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15 May 2017 The Representative Office of the Ministry of Culture and Tourism of Azerbaijan in GCC on Monday announced that it participated in 08th Governmental Travel Roadshow organized by Dnata at the Dubai Police Headquarters. Azerbaijan took the opportunity to showcase what the country has to offer to the staff and members of the Dubai Police. The show was reportedly successful and the representatives at the […]

Emaar Properties on Sunday said net profit for the first quarter 2017 rose 15 percent, driven by its hospitality, entertainment and leisure businesses, and property sales in Dubai, which grew 44 percent the first three months of the year. Net profit rose to AED1.38billion ($377million) in the first quarter from AED1.21bn ($328m) reported in same period last year, while revenue jumped 15 percent to AED4.07bn ($1.11bn) from […]

By Conor Humphries | DUBLIN DUBLIN JPMorgan Chase (JPM.N) has agreed to buy a Dublin building with room for 1,000 staff in the first sign of a financial services company expanding significantly in Ireland since the government began a major campaign to attract firms in the wake of Brexit. The U.S. investment bank will acquire a 130,000 square foot (12,000 square meter) building at the Capital Dock […]

A state of emergency was declared in Yemen after an outbreak of cholera on Sunday, May 14. At least 115 people have been killed in war-torn nation in the past couple of weeks because of cholera. Yemen is ill-equipped to handle any disease outbreak as most of the country’s hospitals and health centers have been ravaged in the last two years of the war. The nation’s news […]

In partnership with TechCrunch, The Europas Conference & Awards, is a different kind of tech event which features main-stage speakers and panels as well as smaller breakout sessions on key subjects for startups. The Europas conference is followed by a glittering awards based on voting by expert judges and the industry itself. Voting is now live, so please go and vote! The awards are editorially led, with […]

German stocks hit a new high on Monday morning, as higher commodity prices boost stocks across Europe. The Dax climbed as much as 0.48 per cent to 12831, with energy group RWE the biggest gainer despite reporting an 18 per cent drop in first quarter profits. German stocks have been some of the biggest beneficiaries of renewed investor desire for European assets, after Emmanuel Macron’s victory in […]

DUBAI // An Asian man has died and others are being treated for their injuries after a bus carrying 10 passengers crashed near Al Quoz industrial civil driving education centre. Dubai Police sent out a message on Twitter just after 7.30am to warn motorists about the collision. Other passengers involved in the incident have been treated by paramedics at the scene and transferred to Rashid Hospital. The […]

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WASHINGTON President Donald Trump is trying to determine how keeping his promise to move the U.S. Embassy in Israel to Jerusalem could affect his hopes of brokering a peace deal between the Israelis and the Palestinians, his secretary of state said on Sunday. Since taking office in January, Trump has shown signs of shelving his campaign pledge to move the embassy from Tel Aviv, while vowing to […]

SYDNEY U.S. buyout firm TPG Capital Management on Monday raised its cash bid for Fairfax Media Ltd (FXJ.AX), offering A$2.76 billion ($2.04 billion) for the struggling Australian publisher and sending its shares to a six-year high. The fresh offer from TPG [TPG.UL] and partner Ontario Teachers’ Pension Plan Board (OTPP) would allow shareholders to cash out completely rather than leaving them with scrip in a piecemeal collection […]

GEORGE TOWN: A police report has been lodged by an investigating officer (IO) after a probe showed that JJPTR’s scheme involved investments amounting to RM1.7bil. Penang police chief Comm Datuk Chuah Ghee Lye said two police reports had been lodged in Penang so far – one from the public and the other from the IO. “The IO’s report was to enable him to conduct an investigation into […]

TOKYO Western Digital Corp (WDC.O) has sought international arbitration to stop partner Toshiba Corp (6502.T) from selling its chips arm without its consent, potentially derailing a much-needed capital injection for the Japanese conglomerate. California-based Western Digital is a long-standing joint venture partner and runs Toshiba’s main semiconductor plant in Japan. It has sought to bid for the Toshiba chips business, but is not seen as the front-runner, […]

Having single-handedly hounded Home Capital Group – the company which we predicted in 2015 would be “ground zero” for any potential Canadian financial crisis, and has emerged as the Canada’s equivalent to the infamous New Century which in 2007 presaged the upcoming global financial crisis – into near oblivion, noted chicken-farmer and short-seller, Marc Cohodes, over the weekend revealed the full details behind his latest short thesis: […]

Amman, 14 May 2017  Marking the debut of The Ritz-Carlton brand in Jordan, Al Eqbal Real Estate Development and Marriot International have announced the signing of an agreement to establish The Ritz-Carlton hotel and residences in Amman, which is scheduled to be complete in 2020. The agreement was inked by Tawfiq Fakhouri, Founder and Chairman of Al Eqbal Real Estate Development, and Alex Kyriakidis, President and Managing […]

DUBAI // The Ministry of Education published a calendar for next academic year giving public school pupils in Dubai and the Northern Emirates a four-week winter break, while teachers will have two. The new school year will begin September 3 for teachers and September 10 for pupils. The winter break will begin December 17 for both pupils and teachers, and the second term will not resume until […]

By Suleiman Al-Khalidi | AMMAN AMMAN More than 1,500 rebels and their family members left the devastated district of Qaboun on the edge of the Syrian capital Damascus after more than two months of aerial strikes and artillery shelling, rebels and state media said on Sunday. The rebels had agreed overnight to a secret evacuation deal after being cornered in a small pocket of Qaboun, which lies […]

Emmanuel Macron’s election as president of France received few more rapturous welcomes than that given by Sylvie Goulard, a liberal French politician in the European Parliament and ally of the 39-year-old new head of state. “Finally! Finally, Europe and France reconciled!” Ms Goulard enthused. “What a symbol — a young president, focused on the future, entering the Louvre of the kings of France to the sound of […]

14 May 2017 Manama, Bahrain: Bank ABC (Arab Banking Corporation B.S.C.) today announced that its consolidated Group net profit, attributable to the shareholders of the parent, for the first quarter of the year 2017 was US$50 million. These results are 22% higher compared to a profit of US$41 million reported for the same period last year, benefitting from strong performance in all core businesses. Total operating income […]

VATICAN CITY Pope Francis called attention on Sunday to the plight of people affected by war and conflict in the Middle East as U.S.-backed forces close in on Islamic State militants in Iraq. “So many innocent people are being sorely tested, be they Christian, or Muslim, or from minority groups like the Yazidi, who are suffering tragic violence and discrimination,” Francis said after his regular Sunday address […]

India’s $1.6tn stock market broke new ground last week, with the benchmark index hitting an all-time high as confidence builds that the government’s reform agenda will strengthen growth and corporate earnings. But the stock market’s 14.9 per cent rally since January 1 has divided opinion among fund managers who disagree over whether Indian equities can make further gains. “The most common question that I am asked by […]

BEIJING Nepal is in talks with China to build a cross-border rail link that may cost up to $8 billion, and funding could be expected after Nepal formally signed up to Beijing’s Belt and Road initiative, a Nepali finance ministry official said on Sunday. Yug Raj Pandey, an under secretary at Nepal’s Ministry of Finance, told Reuters the proposed 550 kilometre-long railway would connect China’s western Tibet […]

(This version of the story corrects paragraph 10 to show quote was by Interim CFO Bob Blowes, not Robert Morton as previously stated) By Matt Scuffham TORONTO Home Capital Group Inc (HCG.TO) confirmed on Friday it is considering asset disposals to enable it to refinance more quickly and pay off an emergency loan provided by the Healthcare of Ontario Pension Plan. Shares in Canada’s biggest non-bank lender […]

By Ju-min Park and Jack Kim | SEOUL SEOUL North Korea fired a ballistic missile on Sunday in defiance of calls to rein in its weapons programme, South Korean and U.S. officials said, days after a new leader took office in the South, pledging to engage it in dialogue. The U.S. Pacific Command said it was assessing the type of missile but it was “not consistent with […]

State-owned utility Qatar General Water & Electricity Corporation (Kahramaa) has awarded Siemens its largest contract to-date in Qatar for the expansion of the country’s power transmission network. As part of the deal, valued at QR3.1 billion ($851 million), Siemens will deliver 35 turnkey super and primary substations for phase 13 of the Qatar Power Transmission System Expansion project. This marks a significant milestone for Siemens, which has […]

Bonds issued by commodity trader Noble Group have fallen, mirroring a sharp decline in its share price, amid growing concerns about the company’s ability to manage its debt load and secure liquidity from banks. Noble’s recently issued 8.75 per cent 2022 notes have fallen from 97 cents on the dollar this week to just 53 cents, pushing the yield up to about 27 per cent, according to […]

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