|By Matein Khalid| The Algiers pact was a game changer in the international oil markets. Crude oil prices have risen to three month highs above $50 Brent after OPEC agreed to cut output to the 32.5 – 33 MBD range, with the symbolic Saudi-Iranian deal reinforced by a sharp drop in US inventories and Hurricane Matthew’s havoc in the Caribbean. Unfortunately for OPEC, the US land rig […]
By Se Young Lee | SEOUL SEOUL Samsung Electronics Co slashed its quarterly profit estimate by a third on Wednesday, soaking up a $2.3 billion hit from ditching its flagship smartphone in what could be one of the costliest product safety failures in tech history. Quantifying the financial pain of Tuesday’s move to scrap the Galaxy Note 7 smartphone after a global recall and weeks of mounting […]
|By Arabian Post Staff|Etihad Aviation Group and TUI AG confirmed they are in discussions to create a strong European leisure airline group, focused on point-to-point flying to connect key tourist markets. It is proposed to contribute the touristic operations of the airberlin group and the German TUIfly company, including the aircraft currently operated by TUIfly for airberlin under a wet-lease agreement, into a new airline group established […]
6-7 February 2017 Advanced Conferences & Meetings (ACM) is launching Future Landscape & Public Realm UAE conference in its third successful edition, on 6-7 February 2017 in Abu Dhabi. This focused conference will once again provide a unique platform for business professionals to discuss the latest challenges and opportunities covering the landscape and public realm industry in Abu Dhabi and the wider UAE, bringing together a broad […]
|By Arabian Post Staff| Despite external debt remaining at tight spreads due to still-high leverage and refinancing challenges, Dubai will muddle through the current crisis in terms of debt rollovers, Bank of America-Merrill Lynch said in its latest research. Although the investment bank expects the local bid on the shorter end to weaken due to low oil prices, it sees chances of less supply risk for Dubai […]
WASHINGTON — The United States formally suspended talks with Russia about the protracted Syria conflict on Monday because of the Russian military’s role in the assault on the besieged Syrian city of Aleppo. The United States also shelved plans with Russia for the joint military targeting of jihadists in Syria, the State Department said in a statement. The American step reflected aggravated tensions with Russia on a […]
The Interpreter By AMANDA TAUB It is a truth universally acknowledged by every war correspondent, humanitarian aid worker and Western diplomat: Some wars, like Syria’s, receive tremendous public attention, which can translate into pressure for resolution. But many others, like Yemen’s still raging but much ignored conflict, do not. Some of the reasons are obvious; the scale of Syria’s war is catastrophic and much worse than Yemen’s. […]
DUBAI // City authorities plan to make Dubai fully accessible to the disabled. Surveys in hospitals, hotels, mosques, malls, schools and transport hubs will determine what needs to be done. Finding a way for disabled people to get from their homes to any destination by public transport is a challenge, but it is not impossible, planners say. Senior officials from transport authorities, the municipality and disability support […]
DUBAI // As Amanda Fagan embarks on her 16th and final round of chemotherapy treatment this week, she has a message for women in the UAE – if you do one thing this October, have a mammogram. The 44-year-old was told she has breast cancer on April 24 after going for her annual scan. “The radiologist was concerned with what she saw on the mammogram and ultrasound, […]
By HWAIDA SAAD and NICK CUMMING-BRUCE September 30, 2016 BEIRUT, Lebanon — An array of groups allied with the Syrian government pressed an assault on rebel-held eastern Aleppo on Friday, as the World Health Organization said heavy bombardment of the area by Russia and Syria had killed 338 people in the last week, including more than 100 children. With more of the city’s already limited hospitals destroyed in the latest offensive, […]
Dutch architect and scientists have delivered proof of principle for what started years ago with the question “Can we get energy from gravity?” The invention can now lead to a sustainable home energy generator. Over the past six months, architect Janjaap Ruijssenaars at Universe Architecture, Amsterdam and scientists from VIRO in Hengelo (NL) have been working on the physical evidence. As was expected based on earlier […]
UAE. (ME NewsWire )–Despite the fact that FinTech has been causing significant digital disruption to global finance for almost a decade, the sector is still in need of strong guidance against regulatory hurdles, says a new report from ACCA (the Association of Chartered Certified Accountants). The report, FinTech – transforming finance, finds that while FinTech’s impact on finance and banking is proving to be as revolutionary to […]
UAE. The UAE industrial market has continued to show a relatively steady performance despite the emergence of economic headwinds, amidst on-going global uncertainty, according to the H1 2016 UAE Industrial & Logistics MarketView, by global real estate consultancy firm CBRE. The softening of crude oil prices over the past 18 months has had mixed effects on the UAE industrial sector, and on the markets in Dubai and […]
UAE. Mobile phones are the most commonly used device among consumers in the UAE and more than half of all consumers (59%) prefer using their smartphones over any other device to make payments, the new Mastercard Impact of Innovation Study reveals. The study surveyed 23,000 consumers in 23 different countries across the Middle East, Africa and Europe about their attitudes to digital technology. It found that while […]
UAE. Dubai’s residential and hospitality markets have rebalanced towards a “new normal” in the first six months of 2016, according to Deloitte’s new report “Deloitte Real Estate Predictions 2016 – H1 Review.” The report predicts that residential sale prices will decline further in Dubai for the balance of 2016, but that this rate of decline will slow, as value and affordability returns to the market. “Our real […]
Nokia Bell Labs, Deutsche Telekom T-Labs and the Technical University of Munich (TUM) have achieved unprecedented transmission capacity and spectral efficiency in an optical communications field trial with a new modulation technique. The breakthrough research could extend the capability of optical networks to meet surging data traffic demands. In an optical communications field trial, Nokia Bell Labs, Deutsche Telekom T-Labs and the TU Munich showed that the […]
The Infiniti Q50 gets a new four-cylinder engine making it a good entry-level luxury car. Affordable and satisfying to drive, it gets good fuel economy and has a lower price point. If you’re in the market for a small, luxury sports sedan, the Infiniti Q50 might just be the ticket. This week we test drove the completely refreshed 2016 Infiniti Q50 2.0t Premium. What’s New For 2016? […]
|By Matein Khalid| The Federal Reserve did not disappoint the financial markets after Janet Yellen’s FOMC conference on Wednesday. The US central bank did not raise the overnight borrowing (or Fed Funds rate) to 0.5% on the eve of the November election. This triggered a wild rally in the US stock market with the Dow Jones up 163 points, gold up to $1342 and oil to $46 […]
/Klaus Wille/Bloomberg/Singapore-based hedge funds outperformed Asian rivals during the first seven months of the year thanks to a greater focus on India and global markets, according to data provider Eurekahedge Pte. Funds headquartered in Singapore returned 2 percent through July, while Hong Kong-based funds declined an average 2.3 percent, Eurekahedge said in a report Tuesday. Funds based in Australia rose 1.9 percent, while Japan-based funds declined 2.5 […]
|By Arabian Post Staff| Platts, independent provider of information and benchmark prices for the commodities and energy markets, announced that it will publish independent, outright price assessments for a range of oil products for the Middle East market on a Free-On-Board Fujairah basis starting October 3, 2016. The new assessments are for gasoline, diesel/gasoil, jet fuel and fuel oil. They will be published alongside existing physical netback […]
An international research team discovered a human skeleton during its ongoing excavation of the famous Antikythera Shipwreck (circa 65 B.C.). The shipwreck, which holds the remains of a Greek trading or cargo ship, is located off the Greek island of Antikythera in the Aegean Sea. The first skeleton recovered from the wreck site during the era of DNA analysis, this find could provide insight into the lives […]
WASHINGTON — The United States’ accidental bombing of Syrian troops over the weekend has put it on the defensive, undercutting American efforts to reduce violence in the civil war and open paths for humanitarian relief. The United States had thought that if a deal to ease hostilities in Syria, struck by Secretary of State John Kerry and his Russian counterpart in Geneva nine days ago, fell apart, […]
President Obama arrived in New York City on Sunday evening for three days that will mix election-year politics with a farewell to the world stage at the United Nations. But the visit comes against a suddenly tense backdrop, after a powerful explosion rocked a Manhattan street and a man claiming fealty to the Islamic State stabbed several people in a Minnesota shopping mall. The president’s diplomatic schedule […]
By Adam Jourdan and Tom Westbrook | SHANGHAI/SYDNEY SHANGHAI/SYDNEY Apple Inc fans from Sydney to Shanghai, the first customers worldwide to snap the new iPhone 7 off the shelves, cheered as they left stores on Friday brandishing their purchases, flanked by applauding sales staff. But underneath the usual fanfare, the crowds of enthusiasts and overnight campers were smaller than in past years. Some customers complained after the […]
