About 40 percent of new hotel supply expected in Riyadh during 2017 will be delayed, but pressure will remain on room rates, according to a new report by real estate consultants Colliers. Despite the softening impact of new supply on the market this year, Colliers forecast that full-year 2017 revenue per available room (RevPAR) for hoteliers in the Saudi capital will fall by 4 percent. The report […]
BRUSSELS One person was killed and about 20 injured, two seriously, on Saturday when a carriage toppled onto its side in a train derailment in Belgium, rescue workers said. Rail operator SNCB said the passenger train bound for Brussels jumped the tracks shortly after leaving the city of Leuven, 25 km (16 miles) east of the capital at about 1.20 p.m. (1220 GMT). Pictures posted on the […]
She and her 10-year-old son, Tíyonn, both have asthma. She sleeps with her rescue inhaler under her pillow. Tíyonn needs medication to keep his lungs working properly and struggles with congestion. He feels safer inside, figuring the air is better, but he’s never far from the trucks. They rumble past Hawkins Street School, the elementary/middle school he attends — an estimated 585 trucks a day on a […]
By Emily Chow and Liz Lee | KUALA LUMPUR KUALA LUMPUR Malaysian police said on Saturday they had arrested a North Korean man in connection with the murder of the estranged half-brother of North Korean leader Kim Jong Un, as a diplomatic spat over his body escalated. Kim Jong Nam died this week after being assaulted at Kuala Lumpur International Airport with what was thought to be […]
Credit: Microsoft “Dear #MongoDB users, we welcome you in #Azure #DocumentDB.” That’s the heading on a February 16 Microsoft blog post that’s attempting to appeal to MongoDB devs who may have been affected and/or spooked by recent ransomware attacks on unsecured MongoDB databases. In January, as many as 27,000 poorly configured MongoDB servers were compromised, with attackers wiping data and demanding ransom for its return. In its […]
Submitted by Matthew Continetti via FreeBeacon.com, How bureaucrats are fighting the voters for control of our country Donald Trump was elected president last November by winning 306 electoral votes. He pledged to “drain the swamp” in Washington, D.C., to overturn the system of politics that had left the nation’s capital and major financial and tech centers flourishing but large swaths of the country mired in stagnation and […]
SEOUL Handcuffed and tied with white rope, the scion of one of the world’s biggest conglomerates, Samsung Group, was taken on Saturday for questioning by South Korean authorities after spending a night in a small detention cell. Samsung Group chief Jay Y. Lee was arrested on Friday for his alleged role in a corruption scandal that has led to the impeachment of President Park Geun-hye. The 48-year-old […]
Soundtrack Your Brand (SYB), the brainchild of an ex-Spotify executive and the quickest growing background music company, has raised $22 million in a round of funding. The round was led by UK’s Balderton Capital and Industrifonden, which is a Nordic venture capital fund. The funding, SYB revealed will be used for the business’ worldwide expansion, as well as improving the service. The company intends to use the […]
Since Ancient times, Visual Capitalist’s Jeff Desjardins explains, gold has served a very unique function in society. Gold is extremely rare, impossible to create out of “thin air”, easily identifiable, malleable, and it does not tarnish. By nature of these properties, gold has been highly valued throughout history for every tiny ounce of weight. That’s why it’s been used by people for centuries as a monetary metal, […]
When Paul Polman became chief executive of Unilever, the consumer goods company which on Friday rejected a $143bn takeover approach from Kraft Heinz, he told investors to steer clear unless they were prepared to sacrifice short-term profit for “sustainable” ideals. The same message has been delivered to the maker of Kool-Aid drinks and Oscar Mayer hot dogs, with a flat rejection of a deal that would be […]
February 17, 2017 by: Eric Platt, US Capital Markets Correspondent A few seats away from starlets Adriana Lima, Amber Valletta and Diane Kruger in the salon at New York’s St. Regis hotel, buyers from the department store chain Bergdorf Goodman were trend-spotting. They were there to see Jason Wu’s latest autumn collection, a line-up full of amber gold velvet draped dresses, smart glen plaid workwear and sheer […]
DUBAI // Robots from around the world have been submitted to the UAE Awards for Good to encourage youth to pursue science, technology, engineering and mathematics in ways they have not considered before. Forty drones and robots were selected from more than 1,300 submissions for a chance to win US$1 million. Although not in the running for the prize, Saif Al Hammadi, 16, was inspired by the […]
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Abu Dhabi Airports has awarded a five-year car parking contract for the under-construction Midfield Terminal Complex (MTC) to Zone Parking Solutions. The company will be responsible for the design, supply, installation, operation and maintenance of a centralised system at the short-term, long-term and employee car parks, state news agency WAM reported. The MTC is being built to accommodate the expected surge in traffic at Abu Dhabi International, […]
By John Tilak and David French | TORONTO/NEW YORK TORONTO/NEW YORK Kinder Morgan Inc (KMI.N) has begun talks with institutional investors including major Canadian pension funds and private equity firms to raise capital for the C$6.8 billion ($5.2 billion) expansion of its Trans Mountain pipeline project, according to people familiar with the process. Kinder Morgan has held discussions with Canada Pension Plan Investment Board, the Caisse de […]
By Yashaswini Swamynathan U.S. stocks were set to open lower on Friday, after a record-setting few days on Wall Street, as investors await clarity on economic policy and ahead of a long weekend. The S&P 500 has risen about 5 percent so far in 2017, with the Dow Jones Industrial Average up 4 percent, mainly on signs of an improving economy and promises by President Donald Trump […]
“Stock market hits new high with longest winning streak in decades. Great level of confidence and optimism — even before tax plan rollout!” Donald Trump tweeted this week. It is a statement that goes beyond the president’s usual rhetoric. Indeed, Wall Street had a record-setting week that included the four key US stock benchmarks — the S&P 500, the Dow Jones Industrial Average, the Nasdaq Composite and the […]
Strata Manufacturing, the advanced composite aero-structures manufacturing company owned by Mubadala Development Company, has signed an agreement which will look at using 3D printing technology to create aircraft parts. The deal inked with India’s Reliance Defence Limited is part of plans to collaborate on advanced aerospace manufacturing capabilities between India and the UAE. The agreement continues to deepen the bilateral ties developed between the UAE and India […]
Submitted by Pam Martens and Russ Martens via WallStreetOnParade.com, Less than two weeks after Mary Jo White was nominated to become Chair of the Securities and Exchange Commission by President Barack Obama on January 24, 2013, White filed an ethics disclosure letter advising that she would “retire” from her position representing Wall Street banks at the law firm Debevoise & Plimpton. White wrote on this subject in […]
By Tulay Karadeniz | ANKARA ANKARA Turkey’s military said on Friday it was close to taking the northern Syrian city of al-Bab from Islamic State, a victory that would deepen Turkish influence in an area where it has created a de facto buffer zone. Al-Bab, an Islamic State stronghold 30 km (20 miles) from the border, has been a key target in an offensive launched by Turkey […]
ABU DHABI // Despite the odd spot of rain and the grey and gloomy skies, the sporting spirit of thousands of budding athletes shone through as National Sports Day kicked off in the capital on Thursday. Teams, gyms and sporting clubs from across the capital offered free sessions in dozens of group and individual sports as well as a range of fitness classes for people to try […]
Friday 04.40 GMT Overview Market volatility dissipated in Asia trade on Friday as the dollar’s downward momentum eased and US Treasuries steadied, but equities in the region were led lower by heavyweights including Toshiba and Samsung. Hot topic Shares in Japan’s Toshiba dropped as much as 12.2 per cent, bringing the company’s market capitalisation nearly 25 per cent lower for the week with a cumulative loss of […]
The emirate of Dubai is expected to issue a US dollar bond by the end of the first quarter, though it has not yet sent to banks any official requests for proposals to arrange the issue, banking sources familiar with the matter said on Thursday. Banks that had lead managers’ roles on Dubai’s previous debt issues have pitched for a new mandate, added one of the sources, […]
Image: Relax VR The early promise of virtual reality (VR) was vast: We would be transported to new worlds and live in alternate realities. While scientists and programmers have been investigating the possibilities of VR since the 1960s, it’s only in the last few years that the technology started to gain mainstream traction, with VR applications spanning from education to real estate. Australian startup Relax VR is […]
Saudi Arabia has broken up four ISIL cells suspected of providing shelter to wanted militants and recruiting fighters, the Interior Ministry said on Thursday, according to Saudi state television. Automatic weapons were seized from the four cells, which comprised 15 Saudis, two Yemenis and a Sudanese man, the ministry’s statement said. Security forces also seized more than 2 million riyals ($530,000) in cash. Among those helped to […]
