By Arabian Post Staff The changing landscape of the US$360 trillion (Dh1,321 trillion) global wealth is now more than four times the global GDP of US$88 trillion. The wealth per adult reached a new record high of US$70,850, or 1.2% above the level of mid-2018 with Switzerland topping the biggest gains in wealth per adult this year, according to a latest report by Credit Suisse. Aggregate global […]
By Matein Khalid I literally laughed when I heard that Goldman Sachs put a valuation range of $1.6 to $2.3 trillion on the Saudi Aramco IPO. One, a valuation range of $700 million only means the Goldie analyst bankers (deal promoters?) are clueless about what Saudi Aramco is really worth. Two, I cannot fathom how the financial markets will assign a valuation of 17 to 23 times […]
By Saifur Rahman Dubai: Emirates Group, which includes Emirates Airline and its ground handling and ticketing arm Dnata, reported an 8 percent growth in profits to Dh1.2 billion (US$320 million), despite a 2 percent decline in group revenues to Dh53.3 billion (US$14.5 billion) for the first six months of 2019-2020 financial year, starting April 1, 2019, compared to Dh54.4 billion (US$14.8 billion), during the same period last year, due to unfavourable […]
Mohamed Said Guedi, a Somaliland-Djibouti dual national, has been running successful businesses in East Africa, the Middle East and Europe. He is an entrepreneur who grew several businesses from start-ups to millions in annual sales through effective business planning, quality of products, creative sales techniques and innovative marketing.
Saudi Arabia’s energy-sector manufacturing – industrial activities that are principally related to the energy value-chain – are set for robust growth in the coming decade, not only adding to the Kingdom’s exports but also promoting job creation among highly-skilled Saudis and strengthening the Small and Medium Enterprises (SME) sector, reports the findings of the first-of-its-kind study on the Saudi industrial and energy manufacturing landscape by GE. Unveiled […]
By Diyari Salih On the first of October, Iraq witnessed enormous protests against the government and the political elite in this country. Later, the prime minister, Adel Abdul Mahdi, announced many reform packages. He also declared that a committee would be established to investigate the actions of violence executed against the protesters. No one believed in these governmental procedures. Thus, a new wave of protests engulfed Iraq’s […]
Continuing from the previous quarter, average sales prices and rents softened across most communities in Dubai in the third quarter of 2019, the latest Cavendish Maxwell UAE Property Market Report says. The average apartment prices declined by 16.5% over the 12-month period from Q3 2018 to Q3 2019 while the average villa/townhouse prices declined 15% during the period. Rental declines for apartments in Dubai averaged 15%, whilst […]
By Arabian Post Staff Abu Dhabi announced the establishment of the Mohamed bin Zayed University of Artificial Intelligence (MBZUAI), the first graduate level, research-based AI university in the world. MBZUAI will enable graduate students, businesses, and governments to advance artificial intelligence. MBZUAI will introduce a new model of academia and research to the field of AI, providing students and faculty access to some of the world’s most […]
By Arabian Post Staff Bahrain’s Al Waha Fund of Funds has announced a substantial investment in Beijing-based MSA Capital – its first investment in a Chinese fund. MSA Capital, the most active Chinese fund in the Gulf, plans to use Bahrain as its “hub for regional expansion”. It will work closely with regulators, entrepreneurs and strategic corporate partners to connect growing companies in the region with capital and […]
The downward price corrections witnessed in Q2 2019 in the Abu Dhabi real estate sector appear have to slowed in Q3, with average sales prices for apartments down 1% from the previous quarter and sales prices for villas showing no movement from Q2, according to an S&P report. This suggests the market could be close to bottoming out, however, this will depend on the amount of supply […]
By Hassan Ali Mansoor A noticeable trend around the world these days are media reports that paint a gloomy picture of the global economy. A particular focus of economists has been global banks and financial institutions. These reports claim that some banks have invested in risky portfolios that expose their customers to unnecessary risks. The precarious financial condition of Deutsche Bank, Germany, is quoted as an example […]
By Arjavi Indraneesh It is a no-brainer that when there is an increase in digital payments, a proportionate rise in fraud is a given. But India’s payment digitisation programme has gone ahead without a requisite improvement in the infrastructure for fraud detection and prevention. Over the past five years, the volume of digital payments has grown by a factor of 10 and an additional growth of 10 […]
By Matein Khalid So Boris Johnson was elected the leader of the Conservative Party by 66% of the Tory membership and thus he, not Jeremy Hunt, will go to Buck House to present his credentials to Her Majesty the Queen. This increases the risk of both no deal Brexit and a potential Tory vote of no confidence in parliament, led by Mrs. May’s Chancellor of the Exchequer […]
By Matein Khalid George Soros once observed “the big money in emerging markets is made when things go from Godawful to just plain awful”. So true. The point of maximum pessimism in an emerging market is often an opportune moment to accumulate its shares, ideally after a political, economic or financial systemic shock. I sold my entire Pakistan equities portfolio in summer of 2017 after the Supreme […]
BY Aaditya Tangri We’ve all heard the dire warnings of our impending dystopian future. According to research by Deloitte, an estimated 35% of UK jobs are at high risk of automation in the next 10 to 20 years, whilst in the past 15 years technology has already contributed to the loss of over 800,000 jobs. Market research company Forrester predicts that 6% of US jobs will be […]
By Arabian Post Staff The return of Qatari and Saudi Arabian issuers to the market and high levels of liquidity in Indonesia as well as Turkey’s efforts to tap all available financing sources have boosted issuance of sukuk 17.6% in the first five months of 2019. Foreign currency issuances also increased 15.6% during the period, explained primarily by Turkey’s issuances but also issuances by Qatari banks and […]
By Saifur Rahman Dubai Islamic Bank (DIB), the UAE’s first and largest Islamic lender, said, is set to acquire Noor Bank, enhancing Dubai’s position as the capital of Islamic economy and creating the region’s most powerful Shari’a banking group. The combined asset value is set to reach Dh275 billion post acquisition, it said. “The Board of Directors of Dubai Islamic Bank convened its meeting on 09/06/2019 and […]
By Matein Khalid Citigroup, the third largest US money center bank, owns subsidiaries in Latin America whose pedigrees go back almost a century. For instance, Banamex, Citi’s subsidiary in Mexico, is the second largest corporate/retail bank south of the Rio Grande. So it was no coincidence that Citi shares got sandbagged to a recent 61 as President Trump threatened to impose tariffs on Mexico’s $350 billion exports […]
Arabian Post Staff Saudi Arabia’s economy is expected to pick up in 2019 but a global economic slowdown and its potential impact on the global oil market could impact growth, the Kingdom’s central bank said. Saudi Arabia’s economy grew by 2.2 percent in 2018, driven by the oil sector, compared to a decline of 0.7 percent in 2017, the Saudi Arabian Monetary Authority (SAMA) said in a […]
Starzplay, the Dubai-based subscription video on demand (SVOD) start-up, has now higher subscribers than Netflix – the global SVOD leader – in the Middle East and North Africa, a top official claimed. “In January 2019, we have reached 1 million subscribers in the Middle East – higher than Netflix,” Maaz Sheikh, CEO of Starzplay, told The Arabian Post, on the sidelines of a press briefing on Monday […]
/By Matein Khalid/Are we on the precipice of another spasm of intercontinental contagion in the emerging markets like 2018, or the Asian flu, tequila crisis, Russian rouble default or the Turkish banking crisis in the 1990’s. Yes. The Shanghai Composite Index has plunged 12% and (17% fall for Shenzhen) since Trump got nasty on the tortuous US-China trade dialogue. The IMF cut its global growth forecast to […]
/By Matein Khalid/ Uber Technologies goes public in the most controversial and global tech IPO since Facebook seven years ago. Uber bulls claim that the ride sharing colossus is another embryonic Amazon, a firm that will dominate the digital constellation of the next two decades. I disagree. Uber loses $4 billion per annum and has already been forced to surrender Russia/CIS to Yandex, China to Didi and […]
|By Arabian Post Staff| A new whitepaper published by Dubai Chamber of Commerce and Industry on start-ups has called for closer cooperation between universities, government agencies and investment funds to expand the scope of investments that can support the growth of startups in the UAE. The whitepaper has been published in collaboration with Roland Berger. The findings were released during Dubai Startup Hub’s Entrepreneurship Advocacy event series. […]
|By Hassan Ali Mansoor| “Adversity reveals the genius, austerity conceals it”. This adage has emerged as the dominant theme used by a select few players in the GCC where during the last three years, massive cost cutting has emerged as the new dominant theme across the board. The last couple of years, we saw the entire commercial sector including businesses, commercial banks and financial institutions struggle to […]
