SAUDI ARABIA. A recent study released by Glowork, the leading organization for women employment in the region highlights female’s perceptions before graduation. A total of 2000 women from 10 universities Kingdom-wide were surveyed. There were some interesting statistics revealed as it was broken down by city. 49% of women in Riyadh expected to work in a supervisor or manager level when graduating, it was much higher in […]
Dubai realtor S&K blames weak market for bankruptcy DUBAI, 1 days ago Dubai-based real estate agency S&K Estate Agents said a deteriorating property market in the emirate contributed to its decision to file for bankruptcy and be liquidated. “Simply put, the revenue being generated by the business drastically reduced over the first half of 2015, without enough income to cover operational costs,” S&K said in an emailed […]
Western Union….aiding Greece during financial crisis Western Union activates money transfer into Greece ATHENS, 1 days ago The Western Union Company, a leading global payment services, has activated international remittances into Greece, allowing customers to receive cash payouts in minutes from almost anywhere around the world at select walk-in retail agent locations. International and domestic Western Union Money Transfer transactions are available for payout at up to […]
The regulator of Dubai’s financial free zone said on Wednesday it had fined Arqaam Capital $50,000 after investigating the Dubai-based investment bank over compliance with anti-money laundering rules. The investigation followed a periodic risk assessment by authorities that identified deficiencies in Arqaam’s systems and controls to prevent money laundering, the Dubai Financial Services Authority said in a statement. The DFSA said its agreement with Arqaam did not […]
|By Matein Khalid|So Pearson PLC has sold the FT Group (with its flagship Financial Times newspaper) to Japan’s Nikkei Inc for $1.32 billion. Pearson will use the cash proceeds to increase its investment in education publishing businesses in the US and Canada, now 75% of revenues. This deal is a milestone in the history of newspaper publishing and my own life as an investor/financial journalist. I discovered […]
UAE. To preserve economic and social stability and continue with development plans, MENA governments are considering tax measures to broaden their revenue base and increase tax yields. The evolving tax landscape in the MENA region was discussed at the EY MENA Tax Conference held recently in London. The conference was attended by EY Tax specialists and senior finance and tax executives from major European companies with investments […]
Mena lagging in adopting cyber security policies BEIRUT, 1 days ago Despite the current global focus on cyber security issues including hacking, data losses, breaches and other information leaks, organizations in the Mena region still do not have formal cyber security initiatives in place, a report said. In keeping with international trends, managing Compliance Risk remains a high priority for organizations across Mena region, explained the Middle […]
Beirut Journal A restaurant worker took two bags of trash to add to a giant pile of garbage left uncollected for a week outside a bar named Floyd the Dog in Beirut. By BEN HUBBARD July 27, 2015 BEIRUT, Lebanon — On a normal weekend night, the revelers at Floyd the Dog, a bar in one of this city’s rowdiest party neighborhoods, spill onto the sidewalk, drinks in hand, […]
A salesperson cleans next to an iPhone 6 at an Apple store in Beijing, October 17, 2014. Reuters/Jason Lee/Files BEIJING Police in Beijing have busted a factory that produced more than 41,000 fake iPhones worth as much as 120 million yuan ($19 million), including some that reached the United States, and have arrested nine suspects in the counterfeiting operation. Apple is one of the most popular brands […]
|By TAP Staff| Dubai residential rents declined by 3% during the second quarter of 2015, according to the latest ADIB/MPM Properties Real Estate report. This comes amongst a surge in supply as 6,750 new residential units were delivered this quarter, taking the total Dubai residential stock to 479,000 units. The majority of the new supply was added along the Sheikh Mohammed Bin Zayed road, with the International […]
ISTANBUL — As Turkish fighter jets pounded Kurdish militia targets in northern Iraq late Friday, the implications of the attack weighed heavily on Turks and Kurds across the border in Turkey, as they faced the prospect of being drawn back into a bloody civil conflict after years of relative peace. In 2013, Turkey brokered a historic settlement with the separatist Kurdistan Workers’ Party, or P.K.K., vowing to […]
BEIRUT, Lebanon — In a striking admission, President Bashar al-Assad of Syria said on Sunday that the country’s army faced a manpower shortage and had ceded some areas to insurgents in order to hold onto other regions deemed more important. Mr. Assad also acknowledged in a speech televised from Damascus, the Syrian capital, that many Syrians could not watch the address because of the lack of electricity […]
ISTANBUL — Turkish fighter jets, which on Friday attacked Islamic State targets in Syria, have launched a wave of airstrikes in northern Iraq, targeting camps of the militant Kurdistan Workers’ Party for the first time in four years, the prime minister’s office said Saturday. The Iraq raids, which began late Friday and continued into Saturday, effectively ended an unstable two-year cease-fire between the Turkish government and the […]
UAE. Women are just as likely as men to find employment in small and medium-sized businesses in the UAE, according to the latest research by business intelligence company MEED. Of the more than top 50 SMEs in the Emirates which participated in the study, 50 per cent said they employ an equal number of women and men in their organisations. About 40 per cent even reported having […]
REUTERS – Amazon.com Inc’s shares surged more than 20 percent in early trading on Friday, adding more than $46 billion to the company’s market value, after strong growth in the e-commerce giant’s cloud business drove a surprise quarterly profit. The company’s market capitalization soared to more than $270 billion, overtaking that of Wal-Mart Stores, the world’s biggest retailer. Revenue from Amazon’s cloud operations – Amazon Web Services […]
A surge in shares of Amlak Finance since they returned to Dubai’s stock market last month has raised concerns about a new wave of unbridled speculation on one of the region’s biggest exchanges. The Islamic mortgage lender has soared about 150 percent since it restarted trading in early June after a six-year suspension due to debt problems. At its latest close of 2.52 dirhams, the stock is […]
ADEN // An Emirati plane landed in Aden at dawn on Friday, bringing humanitarian aid to the southern Yemeni city only hours after its airport came under rocket fire from rebels. In total, four aircraft have arrived at the port city since the symbolic reopening of Aden’s international airport on Wednesday, which followed nearly four months of fierce fighting. The UAE plane delivered medical supplies from the […]
It could be a match made in heaven. Wall Street says Intel Corp (INTC.O) is the best suitor for Qualcomm Inc’s (QCOM.O) chip unit, if the maker of Snapdragon mobile processors decides to break itself up. “The chip deal to end all chip deals,” says Cowen and Co analyst Timothy Arcuri, would give Intel’s smartphone chip making business a much-needed boost. It would also allow Intel to […]
Defense Secretary Ashton B. Carter, right, and Gen. Taleb Shegati al-Kenani, second from right, commander of Iraq’s Counter Terrorism Service, reviewed maps at the joint operations center in Baghdad on Thursday. By HELENE COOPER July 23, 2015 BAGHDAD — Around 3,000 newly American-trained Iraqi troops, along with 500 trained Sunni tribal fighters, have been deployed to help in an expected government offensive to retake the Sunni stronghold of Ramadi […]
Citigroup Inc’s consumer bank has been ordered to pay $700 million in relief to borrowers for illegal credit card practices, the U.S. Consumer Financial Protection Bureau said. The CFPB, set up under the 2010 Dodd-Frank Act aimed at reforming Wall Street, has been cracking down in recent years on credit card companies offering payment protection, credit score tracking and other add-on products. Citi will also pay civil […]
|By Matein Khalid| As a student of investing and the son of a painter/art historian, I cherish art as a visceral, spiritual value but am also intrigued by its historical linkage to banking and the financial markets. The happiest moments of my life have been spent in the Prado, Tate, Hermitage, Rijksmuseum, Ufizi, MOMA, Met, the National Gallery on Trafalgar Square, the Louvre, Musee d’Orsay and so […]
The IBM logo is seen outside the company’s offices in Petah Tikva, near Tel Aviv October 24, 2011. Reuters/Nir Elias International Business Machines Corp’s (IBM.N) revenue fell for the 13th consecutive quarter and missed the average analyst estimate, as it continued to shed low-margin businesses and the strong dollar weighed on Big Blue’s results. Shares of the world’s largest technology services company fell about 5 percent in […]
Intel Q2 revenue drops 4pc to $13bn NEW YORK, 3 days ago Intel Corp reported that its net revenue fell 4.6 per cent to $13.19 billion during the second quarter of the year, edging past the average analyst estimate of $13.04 billion. Growth in the company’s data centers and Internet-of-Things businesses helped offset weak demand for personal computers that use the company’s chips. Shares of the world’s […]
