It’s Dubai all the way, but for the shouting. From all available indications, the dice has turned in favour of Dubai to host the prestigious Expo 2020. A final round of inspections has been gone through and even in this round, reportedly everything has gone in Dubai’s favour. According to The National, a six-strong team from the Bureau International des Expositions, which oversees world expos, spent five […]
Emirates is breaking out of Dubai. In what will be a curious experiment for one of the world’s fastest-growing and most respected airlines, Emirates will begin flying daily from New York’s JFK International Airport to Milan starting Oct. 1. It will be one of the very few routes in the company’s vast network that doesn’t touch its Dubai hub. The JFK-Milan route is currently served with nonstop […]
The United States and its allies geared up for a probable military strike against Syria that could come within days and would be the most aggressive action by Western powers in the Middle Eastern nation’s two-and-a-half-year civil war. Western envoys have told the Syrian opposition to expect a military response soon against President Bashar al-Assad’s forces as punishment for a chemical weapons attack last week, according to […]
Dubai Aerospace Enterprise (DAE), owner of U.S.-based engine repair and maintenance business StandardAero, is in talks to merge parts of its business with British aircraft services firm BBA Aviation , it said on Monday. Dubai government-owned DAE said the talks were at a preliminary stage and gave no further details. Its statement came after the Sunday Times newspaper reported BBA was holding talks with StandardAero over a […]
Saudi British Bank (SABB), an affiliate of HSBC Holdings, is aiming to sell an Islamic bond by year-end to strengthen its capital base, two banking sources aware of the matter said on Monday. HSBC is advising SABB on the potential riyal-denominated sukuk issue to boost its Tier 2 capital position, the sources said, declining to be identified as the matter is not public. SABB’s total capital ratio […]
President Barack Obama and his top military and national security advisers hashed out options on Saturday for responding to the alleged use of chemical weapons in Syria amid “increasing signs” that the government used poison gas against civilians. Obama spoke with British Prime Minister David Cameron, a top U.S. ally, and agreed that chemical weapon use by Syrian President Syrian President Bashar al-Assad’s forces would merit a […]
HSBC Holdings, the top arranger of debt issues in the Gulf Arab region, has named Mustafa Aziz Ata to run its debt capital markets business for the Middle East and North Africa, an internal memo from the bank showed. Aziz, who joined the bank in 2004, is currently a director in its global capital markets division. In his new role, Aziz will report to Russell Schofield-Bezer, head of EMEA debt capital markets, […]
LONDON–Iran’s Bank Mellat is claiming GBP500 million ($782 million) from the U.K. Treasury after a London court ruled against a British decision to sanction the bank, a defense lawyer said. The claim underscores the financial risks faced by Western governments as they seek to enforce sanctions over Iran’s controversial nuclear program. The U.K.’s “Supreme Court has referred [the claim] to the High Court so it can assess […]
By Shuchita Kapur The average score of some schools in the UAE have beaten the UK’s average of the A-level results. Following the British curriculum, the average score of Dubai British School (DBS), a Taleem school, outshines the average result of students in the UK this year. “We have exceeded this year’s UK average on all levels,” a spokesperson for the school told Emirates 24|7.Now, these proud and […]
(Reuters) – The Dubai-based investment firm that bought English soccer club Leeds United in December after lengthy negotiations sold more than half of its 100 percent holding less than six months later, financial statements show. GFH Capital, a subsidiary of Bahraini Gulf Finance House, offloaded a 10 percent stake to Bahrain-based International Investment Bank earlier this year and its second quarter financial statement showed it had now […]
By David Kirkpatrick CAIRO — Gathering Thursday morning around a mosque used as a morgue for hundreds killed the day before, many Islamists waited confidently for a surge of sympathetic support from the broader public. But it failed to materialize. With their leaders jailed or silent, Islamists reeled in shock at the worst mass killing in Egypt’s modern history. By Thursday night, health officials had counted 638 […]
Aug 13 (Reuters) – Barclays Plc is conducting a strategic review of its retail banking operations in the United Arab Emirates which could lead to a sale of the business, according to two sources familiar with the matter. Britain’s fourth-largest bank by market value confirmed on Tuesday it was holding the review of the UAE retail business but did not provide any further comment. The sources spoke […]
The Dubai Land Department has announced that funds invested in the emirates’ real estate market has reached Dh53 billion, with Emiratis ranking highest among Gulf investors with Dh12 billion in spending. A break-down of the investment shows that Arab investors contributed to approximately Dh5 billion — a 111 per cent increase in spending, other Gulf nationals (including those from the UAE) to over Dh16 billion — a […]
A Barclays employee notified the Federal Reserve Bank of New York in April of 2008 that the firm was underestimating its borrowing costs, following potential warning signs as early as 2007 that other banks were undermining the integrity of a key interest rate. In 2008, the employee said that the move was prompted by a desire to “fit in with the rest of the crowd” and added, […]
