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INTERNATIONAL. The era of the autonomous vehicle (AV) is fast approaching. Mass-market adoption of AVs will be the greatest inflection point for the automotive industry since the introduction of the assembly line and will confer tremendous benefits on society, according to a new report from The Boston Consulting Group (BCG). The report, titled Revolution Versus Regulation: The Make-or-Break Questions About Autonomous Vehicles, is being released today. It […]

INTERNATIONAL. Emerging Asian economies remain a challenging operating environment according to new risk ratings released today. In their first jointly produced economic and political risk ratings, Oxford Economics and Control Risks have evaluated the outlook for 164 countries worldwide, producing for each country a score based on a weighting of key political, economic, business and security risks. The ratings, drawn from the new Economic and Political Risk […]

Middle East By ISABEL KERSHNER September 18, 2015 JERUSALEM — Mahmoud Abbas, president of the Palestinian Authority, called Pope Francis to brief him on the “ongoing Israeli aggression in occupied East Jerusalem, and particularly against Al Aqsa Mosque.” Benjamin Netanyahu, the Israeli prime minister, told the United Nations secretary general, Ban Ki-moon, that “Israel is acting against the violence on the Temple Mount” and “is strictly maintaining the status […]

ABU DHABI // European nations need a unified response to the refugee crisis to prevent the situation from worsening, a senior Italian official has said. Andrea Orlando, the country’s minister of justice, said there should be a common policy to deal with the hundreds of thousands of people who are fleeing conflict in Syria, as well as Iraq and Afghanistan, to head to the European Union. “Italy […]

Saudi Arabia’s Emaar The Economic City (EEC) said on Thursday the grace period before starting to repay a SR5-billion ($1.33 billion) loan it signed with the kingdom’s Ministry of Finance in 2011 has been extended by five years. The first payment will commence in 2020 and the rest of the payments will be due over the period until 2026, EEC said in a bourse statement. The company, […]

Autodesk, a leader in 3D design and engineering software, said that new commercial licences of most Autodesk Design and Creation Suites and individual products will be available by subscription only from July 31 next year. When this takes effect, the company will provide new, simplified subscription options so customers can access multiple products and share licences as they currently do — while gaining the simplicity, accessibility, and […]

The development of autonomous vehicles (AV) hinges on cooperation among technology players in the areas of cybersecurity, high-definition maps, and vehicle-to-vehicle and vehicle-to-infrastructure communication, said an industry expert. “But there are equally pressing questions about liability, vehicle certification, and regulatory frameworks,” explained said Nikolaus Lang, a senior partner at The Boston Consulting Group (BCG), a global management consulting firm. “Multi-stakeholder collaboration is key to developing win-win solutions—and […]

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|By Matein Khalid| The world’s emerging markets have been savaged by multiple economic, banking, currency and political shocks since 2011. Global emerging markets are far too diverse and nuanced to be analyzed as a single asset class but now trade at a 24% valuation discount to developed markets. The financial markets now price draconian scenarios for earnings, exports, sovereign credit, industrial production and economic growth. The shortage […]

ABU DHABI // Emiratis living in Khalifa City A want more footpaths, a better road network and more after-school activities for their children. A suburban area of mostly villas, the neighbourhoods do not have parking or traffic congestion problems. But some residents say the lack of paths makes it dangerous to walk. “We do not have any parking shortages here compared with the city,” said Mohammed Al […]

Dubai’s diamond trade will grow as the  emirate attracts dealers from the industry’s traditional hub in the Belgian port of Antwerp after one of the city’s main lenders closed, depriving buyers of needed financing, according to National Bank of Fujairah. “Do we anticipate a big shift of rough diamond traders to Dubai?” Davy Blommaert, unit head for precious metals and diamonds at National Bank of Fujairah, said in […]

Middle East By ELISABETH MALKIN and RICK GLADSTONE September 15, 2015 Mexico’s Foreign Ministry said Tuesday that eight Mexicans had been killed in the Egyptian military’s mistaken assault on a tourist convoy in the desert over the weekend. The news quadrupled the number of Mexican tourists known to have been killed in the assault on Sunday in western Egypt’s storied White Desert area. At least 12 people were killed in all, […]

ABU DHABI // The communities of Al Ain and Al Gharbia are being targeted for a series of walks to raise health awareness and battle diabetes. Six community walks a week for the next eight weeks will lead up to November’s Yas Island walkathon. The first two walks in Al Ain this weekend attracted 40 participants and organisers hope to see that number grow over coming weeks. […]

Two years on from its launch in the city, ride-hailing service Uber is using its Middle East & Africa headquarters in Dubai to lay the groundwork for expanding in the region–through more than just operating in new cities. Since August 2013, the US-based company, which connects drivers and passengers through smartphone apps, has commenced operations within the GCC in Doha, Abu Dhabi, Riyadh, Jeddah and Saudi Arabia’s […]

A display for the Windows 10 operating system is seen in a store window at the Microsoft store at Roosevelt Field in Garden City, New York July 29, 2015. Reuters/Shannon Stapleton/Files REUTERS – Microsoft Corp sent out invitations on Monday for an event on Oct. 6, where it is expected to unveil new devices that run on Windows 10, its latest operating system. “We’re eager to share […]

RAMALLAH, West Bank — A Jewish man died early Monday morning after attackers pelted the road he was driving on with rocks as he was returning home from a dinner celebrating Rosh Hashana, the Jewish New Year, the Israeli authorities said. Prime Minister Benjamin Netanyahu called an emergency meeting to discuss rock-throwing, mostly by Palestinian youths. The man was identified in local news reports as Alexander Levlovich, […]

JERUSALEM — Palestinian youths, some of them masked, clashed with Israeli police officers who entered Jerusalem’s Al Aqsa Mosque compound early Sunday in what appears to have become an increasingly familiar occurrence on the eve of Jewish holidays. This time, the police said, they had intelligence that youths had holed up in the mosque overnight and were planning confront Israeli security forces in an attempt to prevent […]

HAJJA, Yemen — The airstrike slammed into Al-Sham water-bottling plant at the end of the night shift, killing 13 workers who were minutes away from heading home. Standing among the strewn bottles, smoldering boxes and pulverized machines a few days after the airstrike here, the owner, Ibrahim al-Razoom, searched in vain for any possible reason that warplanes from a Saudi-led military coalition would have attacked the place. […]

LEBANON. On Sept. 11, 2015, Standard & Poor’s Ratings Services revised its outlook on the Republic of Lebanon to negative from stable. At the same time, we affirmed our ‘B-/B’ long- and short-term foreign and local currency sovereign credit ratings. RATIONALE The outlook revision stems from our view that political uncertainty in Lebanon and regional tensions will continue to weigh on economic growth in the mediumterm. In […]

Middle East By BEN HUBBARD September 11, 2015 IZMIR, Turkey — A large construction crane toppled over and crashed into the Grand Mosque in the holy city of Mecca on Friday, killing at least 107 people and raising fears about the safety of the site before the yearly hajj pilgrimage that is expected to bring in millions of visitors to Saudi Arabia this month. Saudi Arabia’s civil defense authority […]

UAE. As Dubai continues to roll out developments fueling the expansion of the city, there has been pressure on developers to build affordable homes to support the middle-income groups (earners between 3k-10k AED). In the last year, a flurry of new projects has been launched to cater to this segment. As the markets have matured and slowed down, developers have catered to affordability, more often by reducing […]

DUBAI // Fears over what effect overhead power lines could have on the health of families dominate the concerns of Emiratis in Al Barsha as campaigning for votes in the October 3 election to the Federal National Council gains pace. Residents would like detailed studies on the impact of overhead pylons on nearby homes. “Our whole family stays in villas facing the power lines, we have neighbours […]

Middle East Palestinian supporters of mourabitat demonstrated last week against Israeli plans to forbid the group to enter the compound in Jerusalem that Muslims call the Noble Sanctuary, or Al Aqsa, and that Jews call the Temple Mount. By DIAA HADID September 9, 2015 RAMALLAH, West Bank — Israel on Monday officially outlawed an organization of Muslim women who chase and shout at Jewish visitors to a contested holy […]

UAE. Asteco, the Middle East’s largest full service real estate company has released its mid-year UAE market report ahead of Cityscape Global, highlighting stability in Dubai with a continued focus towards the affordable segment, in contrast to the high end market which experienced declines of up to 10%.  Affordable apartment units at IMPZ, Discovery Gardens and Dubai Silicon Oasis showed 3%, 6% and 2% sales growth over […]

UAE.  JLL, the world’s leading real estate investment and advisory firm, has today published a special report on the middle-income housing segment in the Middle East and North Africa region. The report highlights the social and economic impact of a marked shortfall in the required supply of middle-income housing, suggesting that significant efforts are needed to address the current imbalance. The report clearly outlines that this shortage […]

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