By S. Sethuraman The Reserve Bank of India’s Fourth Bi-Monthly Monetary Policy Statement on September 30 does not offer any hint of monetary easing in the near future, again citing risks to lowering at present the policy lending repo rate from 8 per cent it has maintained since April, in the current fiscal year. This leaves all other policy rates and reserve ratios unchanged, (reverse […]
By Surojit Mahalanobis It is better late than never. The news that the power minister Piyush Goyal has set up an inter-ministerial panel (IMC) to examine and move forward with effective allocation of the 214 coal blocks, after the Supreme Court’s recent order, is indeed acceptable. What is positive about the move is that the committee (IMC) would comprise engineers of power, steel, and mining sectors as […]
Participants at a microfinance conference in Dubai this week. Sanabel Microfinance has blossomed in recent years, helping fill a funding need for businesses too tiny and risky for traditional banks. Curiously perhaps, while microfinance has been a big hit across parts of Asia and South America, its start in the Middle East and North Africa hasn’t been as auspicious. Microfinance institutions have existed in the Middle East […]
|By TAP Staff| Emaar Malls Group, the shopping mall operator based in Dubai, said Monday that it had raised $1.6 billion in its initial public offering. Emaar Malls, which owns the Dubai Mall, one of the largest shopping centers in the world, with 3.7 million square feet in leasable space and 75 million visitors last year, is being spun off from Emaar Properties, the property giant that […]
A landmark ruling by the court system in Dubai’s financial free zone suggests the emirate is starting to influence the way international business disputes are resolved in the Middle East, partly taking over that role from London and New York. Last month a court in the Dubai International Financial Centre (DIFC) found Switzerland’s Bank Sarasin had mis-sold $200 million of investment products to Kuwait’s prominent Khorafi family, […]
Barjeel Data Centre…IT hub for operations Mercury Mena wins data centre project in Abu Dhabi MANAMA, 7 hours, 15 minutes ago Mercury Middle East and North Africa, a leading mechanical, electrical and plumbing (MEP) company, has won a deal to provide the turnkey solutions for the new data centre for the National Bank of Abu Dhabi (NBAD). The Barjeel Data Centre will service as the information technology […]
The Dubai Mall … a key property of Emaar’s malls unit. Emaar malls unit IPO priced at top of range DUBAI, 12 hours, 27 minutes ago Dubai’s Emaar Properties confirmed on Monday that the initial sale of shares in its malls unit priced at the top of the proposed range amid massive demand from investors, making it the largest stock offer in a Gulf Arab economy since […]
DubaiDino at the Dubai Mall – EMG’s flagship property in the emirate. Associated Press Retail giant Emaar Malls Group priced its $1.58 billion initial public offering–the biggest in Dubai in seven years–at the top of the range amid strong demand for its stock. Morgan Stanley is a joint global coordinator for the offering and also one of the joint bookrunners. Patrick Delivanis, its head of investment banking […]
By S. Sethuraman Tamil Nadu, noted for stability and good governance through decades, may be in for political uncertainty, without a robust leader at the helm like Ms. Jayalalithaa, the convicted and jailed Chief Minister. But this is dependant on the outcome of the 2016 assembly elections. Meanwhile, her ruling AIADMK will hold the fort firm. The space for political rivalry may open wide especially if […]
BBK relaunches training plan for Bahraini graduates MANAMA, 6 hours, 22 minutes ago BBK, a leading bank in the Middle East, has announced the relaunch of its management trainee development programme, as part of its ongoing talent development and succession planning strategy. The bank has developed this programme to identify and foster future leaders in the banking Industry, reported the Gulf Daily News, our sister publication. This […]
Al Sudairy … GEMS is a leading player Saudi group buys waste management firm for $300m RIYADH, 1 days ago Jadwa Waste Management Opportunities Fund, a unit of leading Saudi Arabian private equity house and investment bank Jadwa Investment, has acquired Global Environmental Management Services (GEMS) together with its co-investment partners in a deal valued at around $300 million. The acquisition was funded by funds managed by […]
Genesis offers financial monitoring class DUBAI, 1 days ago Genesis Institute, a leading financial trainer, has launched courses in financial monitoring for businesses to enable them to analyse their performance, reduce losses, improve profits and detect accounting fraud. “You don’t have to be a finance expert in order to see when you’re business is in jeopardy and in fact, it is crucial to be able to tell […]
Stephen Fry has boasted of taking drugs in royal palaces and famous hotels Photo: REX FEATURES Someone once called Stephen Fry “a stupid person’s idea of what a clever person is like”. Which is unkind: there’s nothing wicked about being a bit stupid, or admiring celebrities who seem brainy and cuddly, or enjoying a faux-donnish, avuncular figure who admits his problems with depression and makes you feel as […]
Shares of Marka started trading Thursday at a premium of 77% to its 1 U.A.E. dirham ($0.27) issue price. Asa Fitch for The Wall Street Journal Shares of Marka, a brand-new retail and hospitality company in the United Arab Emirates, began trading at a huge premium to their initial public offering valuation on the Dubai Financial Market Thursday, underscoring both a revival of confidence and what could […]
Demand for aircraft leasing is expected to stay steady. Aircraft lessors wary as new rivals crowd into aviation ISTANBUL, 1 days ago By Tim Hepher Aircraft leasing companies voiced confidence in steady jetliner demand, but warned new aviation investors that they may take a painful hit when central banks start unwinding their efforts to stimulate the economy. Deterred by poor returns elsewhere as interest rates remain at […]
Vivek Uberoi, country head of Mashreq Bank Bahrain Mashreq names new country head for Bahrain MANAMA, 1 days ago UAE-based financial institution Mashreq has appointed Vivek Uberoi as the new country head of Mashreq Bank Bahrain. Uberoi has more than 20 years experience in the banking and financial sector, and has held various senior positions with international banks, said a report in the Gulf Daily News (GDN), […]
How do you take sales away from a dominant company like Apple? One way might be to beat Apple’s signature product to market with one of your own. That seems to be the thinking by Samsung as it prepares to launch its new Galaxy Note 4 “phablet” ahead of schedule in China and South Korea this week. With early sales success by Apple with its iPhone 6 […]
| By Peter Garnry| What is clear post the Alibaba IPO is that the market is presumably mispricing Yahoo. Basically, it does not make sense if we assume markets are rational. Yahoo closed at $40.93 last Friday but based on a sum-of-the-parts (SOTP) analysis the stock should trade closer to $45. The table below outlines the SOTP analysis behind Yahoo’s fair value. The company has $3,408 million […]
The Rawabi project displayed at Cityscape Global in Dubai. Rory Jones for The Wall Street Journal New settlements in the West Bank are often heatedly discussed in Dubai. But at the emirate’s showcase real estate event Cityscape Global, it was Palestinian, not Jewish building that was on the tips of tongues. Rawabi, a controversial housing project billed as Palestine’s first planned city, was this week being sold […]
The Dow Jones Industrial Average (DJIA) Index is the only stock market index that covers both the second and the third industrial revolution. Calculating share indexes such as the Dow Jones Industrial Average and showing this index in a historical graph is a useful way to show which phase the industrial revolution is in. Changes in the DJIA shares basket, changes in the formula and stock splits […]
|By TAP Staff| The success of Emaar’s malls IPO has prompted Nakheel to consider a flotation on the local stock market. Such a possibility was indicated by top Nakheel official Sanjay Manchanda, who spoke to reporters at the sidelines of Cityscape. “The market is definitely very receptive to Dubai IPOs now. The success of Emaar will be an encouraging sign for us. Should we decide to list […]
|By TAP Staff| Dubai Duty Free (DDF) has completed re-pricing a $1.75 billion loan for the second time in about a year with more favourable terms, the leading retailer announced in a statement. It said a second facility worth $750 million has also been renegotiated. The $1.75 billion six-year loan, originally signed in July 2012 but repriced a year later, now carries an interest rate of 1.5 […]
|TAP Special| Sultan bin Nasser Al Suwaidi, who has been replaced by Emirates Investment Authority chief executive Mubarak Rashid al-Mansouri as the new UAE central bank governor, was a hardcore dollar loyalist and had all along resisted any change in the dirham’s peg to the greenback. The outgoing governor has served in that position for over two decades and the entry of a financial professional as the […]
The Dubai International Financial Centre DIFC plans $700m sukuk issue by end-October DUBAI, 1 days ago DIFC Investments, the investment arm of the company running Dubai’s financial free zone, is seeking to raise as much as $700 million by issuing a sukuk to help repay existing debt and fund real estate development, its top executive said on Sunday. The company aims to finalise the ijara-structured deal by […]
