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By James M. Dorsey Stepped up Saudi efforts to forge close diplomatic, economic and cultural ties to Shia-majority Iraq in a bid to counter significant Iranian influence in the country appear to be paying off. The Saudi initiative demonstrates the kingdom’s ability to engage rather than exclusively pursue a muscular, assertive and confrontational policy towards the Islamic republic and its perceived allies. It raises the question whether […]

By James M. Dorsey Bangladesh, in a twist of irony, is looking to Saudi Arabia to fund a $ 1 billion plan to build hundreds of mosques and religious centres to counter militant Islam that for much of the past decade traced its roots to ultra-conservative strands of the faith promoted by a multi-billion dollar Saudi campaign. The Bangladeshi plan constitutes the first effort by a Muslim country to enlist […]

By James M. Dorsey There’s a cutting-off-the-nose-to-spite-the face aspect to a Saudi plan to turn Qatar into an island by digging a 60-kilometre ocean channel through the two countries’ land border that would accommodate a nuclear waste heap as well as a military base. If implemented, the channel would signal the kingdom’s belief that relations between the world’s only two Wahhabi states will not any time soon return to […]

By James M. Dorsey In his effort to improve Saudi Arabia’s badly tarnished image and project the kingdom as embracing an unidentified form of moderate Islam, Saudi Crown Prince Mohammed bin Salman has hinted that he envisions a conservative rather than an ultra-conservative society, but not one in which citizens are fully free to make personal, let alone political choices of their own. Prince Mohammed’s vision, although […]

|By Arabian Post Staff| Saal, an innovative technology company based in Abu Dhabi, has launched saal.ai – a revolutionary artificial intelligence (AI) framework, an enabler, ready to transcend and redefine current practices across industries and fuel economic and social growth. Capable of cognitive tasks such as reasoning, inference and retrieval, using data collected from multi-modal sensor inputs, saal.ai uses advanced computing and machine learning techniques to perform actions in the AI […]

By James M Dorsey The Middle East has a knack for sucking external powers into its conflicts. China’s ventures into the region have shown how difficult it is to maintain its principle of non-interference in the internal affairs of other states. China’s abandonment of non-interference is manifested by its (largely ineffective) efforts to mediate conflicts in South Sudan, Syria and Afghanistan as well as between Israel and Palestine and even between Saudi […]

By James M. Dorsey Saudi Arabia, in an indication that it is serious about shaving off the sharp edges of its Sunni Muslim ultra-conservatism, has agreed to surrender control of the Great Mosque in Brussels. The decision follows mounting Belgian criticism of alleged intolerance and supremacism that was being propagated by the mosque’s Saudi administrators as well as social reforms in the kingdom introduced by Crown Prince Mohammed bin Salman, including […]

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While there are many ways in which medical science is using digital techniques and artificial intelligence (AI) to make life-saving decisions., the science and art of animation holds the potential to help revolutionize healthcare. Once the province of movies and cartoons, more realistic computer-generated imagery in medical science is providing solace to patients undergoing harsh treatments. And at the meeting point of movies and medicine, doctors are […]

|By Arabian Post Staff| Abu Dhabi Securities Exchange (ADX) has signed a Memorandum of Understanding (MoU) with the Society for Worldwide Interbank Financial Telecommunication (SWIFT) and seven leading global Central Securities Depository (CSD) companies to collaborate on Distributed Ledger Technology (DLT) implementation in post trade operations, as well as capital market transactions. Today, securities processing, particularly in areas requiring multi-party contact and involving extremely cumbersome manual processes carry […]

|By Matein Khalid| When I first started on a Treasury bond futures trading desk in New York fresh out of Wharton, a senior mentor once advised to keep track of the four heartbeats of gold finance in real time. The price of money (interest rates), the price of currency (the US dollar), the price of oil and the price of gold.   The price of money can be […]

|By Matein Khalid|The rise in Brent crude to $60 a barrel and the trade volume ballast generated by the world’s first post Lehman synchronized economic recovery is hugely positive for UAE economic growth in 2018. After all, the UAE is unique because Abu Dhabi’s 100 billion barrels of proven oil reserves is complemented by Dubai’s role as the Gulf’s financial, logistics, aviation, shopping and services hub. The […]

|By Arabian Post Staff| UAE-based multinational company, Crescent Enterprises, has announced the successful closing of its investment in ColubrisMX and XCath, two next-generation micro-robotic medical device companies through its newly launched corporate venture arm, Crescent Enterprises Venture Capital (CE-VC). Developed at the University of Texas Medical School’s Microsurgical Robotics Laboratory and incorporated in Texas, USA, both companies design and develop next-generation robotic technologies that are expected to revolutionise […]

|By Arabian Post Staff|ADNOC plans to explore and appraise Abu Dhabi’s unconventional gas resources, as the company seeks to enable future value creation from its untapped gas resources, the company announced. ADNOC will spend over AED 400 billion over the next five years, as it embarks on its Upstream and Downstream expansion and growth projects, the company announced. The Supreme Petroleum Council (SPC) approved ADNOC’s key strategic […]

|By Matein Khalid| US and global equities surged on news of the US House of Representatives pass the tax reform bill, Cisco and Walmart posted blowout earnings and a potential bidding war emerged for Fox’s media assets. The rally on Thursday followed a week of carnage in the US high yield debt markets, flattening of the US Treasury yield curve and losses in the major stock market indices worldwide.   […]

|By Arabian Post Staff|With the official implementation of Valued Added Tax (VAT) across the GCC coming into effect in January 2018, a majority of industries in the Gulf, including the burgeoning food production and manufacturing sphere, are worried about the ripple effect of the region’s first applied taxation. The Business Talks Conference will see top decision makers and market leaders gathering to outline, discuss and debate the […]

|By Arabian Post Staff| Subdued economic growth continued to translate into job cuts, reduction of staff allowances and few employment opportunities, which resulted in increased vacancy rates in the Abu Dhabi property market, according to the latest report of Asteco. Average apartment rental rates dropped by 3% over the quarter and by 10% during the past 12 months, with the highest rate of decline recorded for mid-end […]

|By Arabian Post Staff|Saudi Arabia is holding one of its most important investment summits  ever, named the Future Investment Initiative (FII), considered to be game-changing forum  in Riyadh.  The landmark event is being attended by more than 2,500 delegates and internationally-renowned business and investment leaders from over 60 countries. The three-day event will explore new trends, opportunities, challenges and emerging industries that will shape the world economy and […]

|By Arabian Post Staff| Abu Dhabi Securities Exchange (ADX) today announced the launch of its latest investment service ‘Technical Short Selling’ (TSS), an addition to the existing suite of services and products provided by ADX to investors through brokerage firms. The launch of this new service falls in line with ADX’s strategy to increase liquidity levels as well as diversify investment and hedging instruments in order to […]

|By Arabian Post Staff| The introduction of value added tax would force  Dubai’s precious metals and gems businesses to relocate to other centres such as Singapore  and Hong Kong, DMCC excutive chairman Ahmed Bin Sulayem has warned. VAT  could lead to an “exodus” of firms in the gold and diamond industry from the UAE, Bin Sulayem said in a message to the Dubai Diamond Conference and urged the […]

|By K Raveendran| Virgin boss Richard Branson recently went on a voyage to Arabia’s  past, which he claims helped him discover an incredibly exciting time in Saudi Arabia’s history. The visit also turned out to be an inspiration for him to announce a major investment in  a luxury tourism project aiming to transform a stretch of Saudi Arabia’s Red Sea coast into a hub for high-end holidaymakers. […]

|By Matein Khalid| Jamie Dimon, the unanointed king of Wall Street and chief executive of New York banking colossus J.P. Morgan did not mince his words. He called Bitcoin “a fraud”, a speculative bubble comparable to the Dutch tulip mania of the seventeenth century and declared he would fire any trader at his bank trading in the cryptocurrency “in a second” for “stupidity”. This has only reinforced the […]

|By F R Chowdhury| Myanmar (previously known as Burma) is a vast country of 676,550 sq. km. or 261,217 sq. miles on the north-east coast of Bay of Bengal. Basically it is between Bangladesh and Thailand though it has also long common border with India and China. Its population is only about 49 million. Majority are Buddhists. Next large population is ethnic Bengali Muslims and a small percentage […]

|By Matein Khalid| Trump’s post Charlottesville remarks, the Barcelona terrorist attacks and Cisco’s results unnerved the US stock market bulls last week. Friday was a surreal moment in the history of Wall Street. It was entirely rational for traders on the New York Stock Exchange floor to cheers and the Dow Jones Index rise 150 points when news broke that Trump had fired his alt-right, white nationalist chief strategist […]

|By Arabian Post Staff| The DIFC Courts announced the passing away of Sir Anthony Colman after a short illness in hospital in England last week. He was appointed as a Judge of the DIFC Courts from 2008, serving as Deputy Chief Justice from June 2010 until his retirement in May 2013. From 2013 onwards, Sir Anthony continued as a Judge at the Courts, overseeing ongoing cases initiated before […]

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