Lego has announced it has ended its relationship with the Daily Mail after campaigners targeted some of the UK’s biggest newspapers over their coverage of inflammatory issues such as immigration and race following the vote for Brexit. The Danish toy maker posted a message on Twitter on Saturday confirming its current agreement with the Mail had finished and that it was “not planning any future promotional activity […]
By Sumanta Dey | BENGALURU BENGALURU After Donald Trump’s unexpected victory in the U.S. presidential election, investors may refocus in the coming week on the health of the world economy and any signs that years of rock-bottom interest rates and fiscal austerity are coming to an end. Trump’s victory poses a major challenge to the conventional wisdom on the global economy, which for years has relied on […]
ABU DHABI // Mass extinction of species, how to boost economic growth without harming the planet and the effects of mass agriculture are all issues to be addressed at the Cop 22 summit. The meeting in Morocco, which began this week, follows last year’s Paris Agreement, where 196 countries committed to reducing global warming to less than 2°C. One of the major discussion points is that the […]
|By Arabian Post Staff|Bank of America-Merrill Lynch has made moderate downward adjustments to its near-term growth forecasts in the light of the election of Trump as the next US President. “Given the high level of uncertainty about the exact policy changes at this stage, we are assuming that trade tensions and fiscal stimulus have offsetting impacts on growth in the medium term,” it said. While a wide […]
|By Arabian Post Staff| It might be possible in the not too distant future to travel between Dubai and Abu Dhabi in 12 minutes if plans announced today materialise without any major hitch. Hyperloop One, which is reinventing transportation by developing the world’s first Hyperloop, an integrated structure to move passengers and cargo between two points immediately, safely, efficiently, and the Dubai Roads and Transport Authority (RTA) agreed […]
Tech behemoth Dell EMC launched a torrent of new products and services for enterprise client at its Dell EMC World Austin event that wrapped up yesterday. Among the announcements were the new Endpoint Data Security and Management portfolio, new payment solutions for IT procurement, new versions of its Data Domain protection tool, and new analytics suites. Security Is the Word Digital security was one of the biggest […]
|By Matein Khalid| The fall in oil prices since 2014 has triggered a liquidity crunch and higher funding costs in the UAE banking system. EIBOR is almost double the London interbank rate LIBOR. Non-performing loan (NPL) have begun to rise as property prices have fallen 20% from their peak and corporate/SME borrowers are hit by a sharp downturn in the business cycle. DIB shares reflect these macro […]
MUMBAI Samsung Electronics Co (005930.KS) on Friday offered alternative phones to its India customers who had pre-ordered its flagship Galaxy Note 7 devices, in a bid to appease loyal clients in one of its largest smartphone markets. The world’s largest phone maker has been hit by an avalanche of negative publicity, after being forced to recall millions of the fire-prone Note 7 devices and later […]
Donald Trump, under attack by opponents as well as Republican politicians for crude remarks about women, doesn’t “have any clue about what’s going on in the world” and young Americans must vote to make sure he doesn’t get elected president, according to actor Robert De Niro. “I’m so angry because this fool” was allowed to get to this place in the contest, De Niro told reporters on […]
Enterprises will soon be able to speed their Ethernet networks by up to five times their current speeds without having to replace their existing infrastructures thanks to a new networking standard announced this week. The standard, officially known as IEEE 802.3bz, defines 2.5 and 5 Gigabit Ethernet speeds over the existing installed base of twisted pair copper cabling. The new networking protocol will help companies continue to […]
When I went to Las Vegas last week I didn’t go to visit clubs, gamble or even take in a show. Those were activities for another trip. This time I attended the Automotive IQ System Safety conference. I met engineers, auto executives, and computer programmers who shared the same concern about autonomous vehicles: how safe is safe enough? Companies like Uber and Tesla are rolling out autonomous technology faster […]
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. A new report by The Boston Consulting Group (BCG) reveals that, when it comes to its current-level Sustainable Economic Development Assessment (SEDA) scores, the UAE outperforms the GCC and the rest of the world in most dimensions—including income, employment, education, infrastructure, civil society, governance, and environment. Across these dimensions, the UAE topped the average scores of both the GCC and the rest of the world. The […]
Fourteen months after Microsoft released Windows 10, its “last” Windows version ever, the company said the new operating system is now running on more than 400 million devices around the world. That’s an increase of more than 50 million since Microsoft last updated its usage figures earlier this year. Calling the OS “the most secure Windows,” Yusuf Mehdi, corporate vice president of Microsoft’s Windows and Devices Group, […]
|By Matein Khalid| When Ben Bernanke uttered the word “taper” in May 2013, he triggered a bloodbath in emerging markets and a free fall in “fragile five” currencies that included the Indian rupee and the Indonesian rupiah. However, Asian equities markets, while not immune to a Fed rate hike, are far better positioned for higher US dollar interest rates than in 2013, let alone 2007 or 1998. […]
|By Arabian Post Staff|Up to AED 7 billion in outstanding loans were restructured by UAE banks through negotiations with over 1700 small and medium enterprises in distress, the UAE Banks Federation has revealed. The restructuring was done under an initiative of the Federation named “Modus Operandi”. The initiative was launched by the Federation earlier in the year under which lenders to SMEs experiencing repayment difficulties agree to […]
Sometimes, things don’t turn out like we expect. This is the case with Chevrolet and the Chevelle. It started as a conventional car but evolved into a road warrior, carrying the muscle car torch for a new generation. The Chevelle had a body-on-frame design that, while basic, really unlocked its potential as a muscle machine. There was a time when the LS6 Chevelle was the fastest American car […]
|By Arabian Post Staff| The generations of Millennials, meaning people between the ages of 19 and 35, as well as Centennials, denoting young people aged up to 18, will most probably end up poorer than their parents and grand parents, a Bank of America-Merrill Lynch report titled Thematic Investing: The New Kids on the Block has predicted. Gen Y (“Millennials”, 19-35Y) and Gen Z (“Centennials”, 0-18Y) are […]
|By Matein Khalid|I had written a column two weeks ago outlining my view that US equities faced a dangerous autumn and the S&P 500 index was set for a fall of 150 points. However, even I did not expect the S&P500 index to fall 52 points on Friday (the Dow dropped 394 points and NASDAQ 133 points), its worst performance since the Brexit shock. It was even […]
|By Steve Austin| At first sight it appears that low oil prices are good for society. A low oil price helps us save dollars at the pump, acts as an economic catalyst making exchanges cheaper and thereby stimulating the economy. However, there are downsides as well, often out-of-sight-out-of-mind and we will address these today. Change in economic model For the first time we have entered an era […]
/By Matein Khalid/The oil market has been a rollercoaster in 2016. A global financial panic triggered by China’s yuan depreciation caused Brent crude to fall below $30 a barrel in late January. I was amazed at the sheer scale of the speculative short positions accumulated by oil traders and hedge funds in both West Texas and Brent futures markets, the highest since the oil crash of 2008. The […]
Unveiled at Apple’s special event in San Francisco today, the new iPhone 7 and iPhone 7 Plus can be ordered starting this Friday and are set to hit the market on September 16. The latest generation of Apple’s smartphones (pictured above) will introduce a number of new features, including water and dust resistance, an advanced 12-megapixel camera and an A10 Fusion chip architecture billed as twice as […]
SAUDI ARABIA. Saudi Arabia’s non-oil private sector continued on its upward trajectory in August, with business conditions improving to the greatest extent in a year. Output and new business remained the key growth drivers – both rose sharply and more quickly than in July. Employment and input stocks also increased, with a number of companies looking to expand capacity in line with rising workloads. Meanwhile, price pressures […]
|By Arabian Post Staff| Fitch Ratings has upgraded DP World Limited’s Long-Term Issuer Default Rating (IDR) to BBB from BBB- and its Short-Term IDR to F2 from F3. The rating outlook is stable. The upgrade follows the Fitch announcement in November 2015 revising DP World’s outlook to Positive from Stable. It reflects the global trade enabler’s strong performance and stable cash flow generation supported by its geographical […]
