HR technology trends in focus at Dubai summit DUBAI, 22 days ago The latest trends in implementing technology for human resources (HR) function in the Middle East and North Africa (Mena) region will be shared exclusively at a conference in Dubai, UAE next week. The HR Tech Mena, under the theme ‘Smart HR Evolution,’ will take place on May 13 and 14 at the Taj Towers Dubai, […]
UAE. Fifty-seven percent of global financial services executives believe regulation has enabled growth of their business, according to the results of Deloitte’s Staying Ahead of the Pack survey. In addition, half of executives expect much more regulation in the near future, with 69 percent feeling prepared for it. The survey of 200 executives at banking, securities, insurance and investment management firms around the world was conducted to […]
Dubai Islamic Bank has priced a $750 million sukuk with a five year lifespan, a document from arranger banks said on Wednesday, with the cost of borrowing reduced by significant investor demand. The wakala-structured deal, in which one party manages assets on behalf of another, was completed at a spread of 125 basis points over midswaps and carried a profit rate of 2.921 percent, the document said. […]
World Briefing By STEVEN ERLANGER May 27, 2015 LONDON — Tony Blair, former prime minister of Britain, will resign as special Middle East envoy at the end of June, he informed the United Nations secretary general, Ban Ki-moon, in a letter, diplomats said Wednesday. Mr. Blair took the job in 2007, representing the Middle East “quartet” of the United States, Russia, the United Nations and the European Union. But […]
By JODI RUDOREN May 26, 2015 JERUSALEM — Hinting at a new strategy as he starts his fourth term with a more conservative coalition, Prime Minister Benjamin Netanyahu of Israel told the European Union’s foreign policy chief that he wants to negotiate with the Palestinians over which settlements in the occupied West Bank would be annexed by Israel, officials said Tuesday. Palestinian leaders quickly rejected the idea as a […]
|By K Raveendran| Samena Capital, which recently completed the purchase of UAE’s global ceramics leader RAK Ceramics, has acquired a significant stake in London-based private banking and corporate advisory Kleinwort Benson Bank. (KBBL) The transaction opens up the possibility of the bank establishing a new global merchant banking operation in Dubai to offer advisory services for corporate in the region. The transaction is expected to close by […]
Crude oil prices were broadly unchanged in early trading on Tuesday, as firm demand supported and ample supply dragged, but analysts said there were signs that a recent rally was running out of steam. Robust demand in Asia as well as due to the driving season in the United States is being met by near record output, especially from the Organization Of Petroleum Exporting Countries (OPEC), although […]
DUBAI // Outstanding achievements by UAE women in fields as diverse as civil aviation, business strategy, technology and social enterprise were recognised on Monday night. Laila Al Muhairi, assistant director general for strategy and international affairs at the General Civil Aviation Authority, won the first award in the professional category at the Emirates Women Awards. “My objective is to inspire generations of girls in the UAE and […]
|By K Raveendran| Bank customers often find themselves being led up the garden path by the sweet talk of sales agents and rosy promises held out by advertisements when they change their bank. The new choice invariably turns out to be worse than the one that had been given the ditch. There is consolation on the way for such disconcerted customers. The UAE Banks Federation, the collective […]
By JODI RUDOREN May 25, 2015 JERUSALEM — Prime Minister Benjamin Netanyahu of Israel on Monday named a longtime confidant who is hawkish on Iran and the Palestinian issue to run the foreign ministry, the latest in a series of moves that consolidate Mr. Netanyahu’s conservative grip on his new government. The new ministry director, Dore Gold, is a former Israeli ambassador to the United Nations and a prolific […]
A box from Amazon.com is pictured on the porch of a house in Golden, Colorado July 23, 2008. Reuters/Rick Wilking/Files NEW YORK Amazon.com Inc has started booking revenue from retail sales in individual European countries, instead of channeling all sales through low-tax Luxembourg, the Wall Street Journal reported Sunday. The change was made effective May 1, a company spokesman told the Journal. Amazon said it had started […]
qI live in the UAE but have an outstanding loan from Kuwait from about a year ago. As I was unemployed I have only made very small payments on the loan in the past year. I now have a full-time job but a debt collector in America has been calling me threatening me with a travel ban, since there is a National Bank of Kuwait in the […]
|By TAP Staff| Network International, the credit card processing company owned by Emirates NBD and Abraaj Group is set to launch an IPO. According to sources, the offering would happen in the fourth quarter or in early 2016. The business is expected to be valued at more than $1 billion. Abraaj bought 49 percent of Network International from Emirates NBD for about 2 billion dirhams ($545 million) in late 2010. The […]
Buildings that were destroyed during the 50-day war last year between Israel and Hamas militants in the Gaza Strip. By DIAA HADID May 22, 2015 RAMALLAH, West Bank — Gaza’s war-battered economy is on the “verge of collapse,” dragged down by soaring unemployment rates that followed last summer’s war with Israel, border restrictions and government dysfunction, the World Bank says in a new report. Infighting between Gaza’s Islamist Hamas […]
N.R. Narayana Murthy acknowledges the media in Calcutta August 20, 2002. Reuters/Jayanta Shaw/Files MUMBAI The Securities and Exchange Board of India (SEBI) has named Infosys founder N.R. Narayana Murthy to head a panel that will devise rules for a new funding platform for homegrown start-ups, the regulator said on its website. In March, SEBI announced an alternative investment platform targeted at the country’s booming internet start-ups, relaxing […]
UAE. The findings of a new study by The Boston Consulting Group (BCG), a global management consulting firm and the world’s leading advisor on business strategy, shows that mobile technologies are creating immense value for consumers – value that greatly exceeds the costs of owning a mobile device. In fact, consumers worldwide value mobile technologies at 11 to 45 percent of their income – well above what […]
Sepp Blatter, the FIFA president, center, with Ofer Eini, head of the Israeli soccer association, left, in Jerusalem on Tuesday. By JODI RUDOREN May 19, 2015 RAMALLAH, West Bank — The Palestinian grievances against Israel are familiar ones: hampering travel, blocking import of equipment, rampant racism and the treatment of settlements in the occupied West Bank. The Israeli response is also a repeat: security concerns, mostly. But this round […]
MUMBAI Indian e-commerce firms are offering funding help and tech support to woo small retailers, emulating a strategy used by Chinese online retail giant Alibaba Group Holding Ltd to expand into the towns and villages home to the majority of consumers. India’s biggest e-tailers such as Flipkart, Snapdeal and the local arm of Amazon.com Inc are online marketplaces, with commission from sellers accounting for the bulk of […]
|By TAP Staff| Oil is poised to slump to $45 US a barrel by October as a surplus of crude and producers’ easy access to cash weigh on the market, according to Goldman Sachs Group Inc. A recovery in prices to near $60 a barrel from a six-year low in March is premature, analysts including Jeffrey Currie said in an e-mailed report dated May 18. The availability […]
Industrial and Commercial Bank of China has launched a $500 million five-year debut bond issued by its Dubai branch, which is set to price later on Monday, a document from lead managers said. The bank, China’s largest by assets, set the final spread at 120 basis points over U.S. Treasuries, the document stated, tighter than the initial price guidance of around 145 basis points over treasuries announced […]
Dubai Islamic Bank (DIB) has picked six banks to arrange fixed income investor meetings from Thursday for a potential benchmark size, U.S. dollar-denominated senior sukuk issue, a document from lead arrangers showed. DIB, the largest Islamic bank in the United Arab Emirates, has mandated First Gulf Bank, HSBC, Maybank, National Bank of Abu Dhabi, Standard Chartered Bank and itself to arrange the meetings in Asia and Europe. […]
Photo Leah Pfeiffer, left, a student at the Culinary Institute of America, and Chuck Yu, a West Point cadet, cooking in a C.I.A. kitchen in October 2013.Credit Mike Groll for The New York Times We are hard pressed to think of many world-class liberal arts colleges with entire student bodies ambitiously studying and training toward a single profession – and in uniforms that are far from Vassar’s […]
Top UAE banks paying off the emergency loans they previously took from the Ministry of Finance is a sign they now have ample liquidity and funding alternatives, according to banking industry experts. The UAE banks landed in a serious liquidity squeeze, after foreign banks withdrew Dh100 billion worth of funds from the local banks placed with them to make quick gains from the much-anticipated de-pegging of the […]
