Hedge funds cut bullish bets on Brent crude to the lowest level in three years amid speculation that Saudi Arabia may refrain from paring output to tackle global oversupply. Speculative bets that prices will rise, in futures and options combined, outnumbered short positions by 36,704 lots in the week to Sept. 30, the London-based ICE Futures Europe exchange said today in its weekly Commitments of Traders report. […]
|By TAP Staff| Mobogenie , the fastest growing developer of applications for android and mobile devices, announced the launch of a new app development platform named CYMaker at the Global App Summit in Dubai. Mobogenie claims it will open up the world of app development through a simplified, free of cost solution with no limitations, no hidden fees, and no credit card requirement. Visitors to the Global […]
For the second time since June, AT&T has acknowledged that it has been hit by an insider data breach. The telecom giant is warning consumers that an employee, who has since been fired, illegally accessed the personal information of some of its users, making off with Social Security numbers and driver’s license numbers. In a letter sent to the Vermont attorney general earlier this month, AT&T officials […]
A Luxembourg court on Friday rejected a request by two holding companies of Portugal’s Espirito Santo family for “controlled management”, a sort of bankruptcy protection from creditors. Espirito Santo Financial Group (ESFG) and its subsidiary Espirito Santo Financiere SA still have the right to appeal, and the court has yet to decide on two other holding companies controlled by the family. ESFG is Banco Espirito Santo’s largest shareholder, and […]
Officials at the announcing of the Gitex Technology Week 2014 Mideast ICT market to hit $20bn, outpacing global average DUBAI, 3 days ago The Middle East region’s information and communication technology (ICT) market is set to jump from a projected $15 billion this year to $20 billion in 2020, outpacing the global average, according to market intelligence firm IDC. The growth is being buoyed by region-wide investment […]
Slide Show | Preparing for New Risks in Golan Heights The fighting in Syria has prompted residents of the Golan Heights, Israel’s quietest frontier, to reassess the potential danger. By JODI RUDOREN October 4, 2014 EIN ZIVAN, Golan Heights — The updates poured in by two-way radio and cellphone as Tomer Lahav’s pickup sped around this kibbutz near Israel’s cease-fire line with Syria one recent evening. Mortars were falling […]
By Nora Chopra There is a saying that great men think alike so does Rahul Gandhi and Narendra Modi and his man Friday Amit Sharma. Rahul who is all set to take over from his mother the reins of the Congress Party does not want to have any pre poll alliance. He wants to start from scratch and go alone so that the Congress base which it […]
UAE. A working paper by the International Monetary Fund (IMF) has called for the countries of the GCC to create a dynamic non-oil tradable sector to support sustainable growth. The paper ‘Soaring of the Gulf Falcons: Diversification in the GCC Oil Exporters in Seven Propositions’, authored by Reda Cherif and Fuad Hasanov, says this strategy should be implemented right away, even for the richest GCC countries. Charles […]
Gulf banks are feeling the pinch of rapidly shrinking corporate loan margins, with some predicting a bounce in lending rates as soon as the first half of 2015 as the escalating price war bites into profitability. Lenders are being forced to cut rates and loosen lending terms to secure business as local banks, flush with cash as their balance sheets recover from the global financial crisis, seek […]
|By TAP Staff| Following the huge success of Emaar’s malls IPO, Chairman Mohammed Alabbar indicated the possibility of floating the group’s hotel business, which includes the signature Armani Hotel. Meraas Holding, a Dubai government-controlled developer, has picked banks to manage the IPO of its theme park unit, three people with knowledge of the matter said earlier this month. The company’s IPO is planned for the fourth quarter, […]
Kuwait plans clamp on energy subsidies Kuwait starting to cut subsidies, says IMF DUBAI, 3 hours, 26 minutes ago Kuwait’s government has started reducing some state subsidy payments and is in an advanced stage of preparing a plan to cut subsidies for kerosene and electricity, the International Monetary Fund said. Subsidy cuts are an important economic reform for Kuwait because lavish subsidies, mostly on energy, swallow about […]
Qatar… construction activity jumps 14.5 per cent Qatar’s economic growth edges up to 5.7pc in Q2 DUBAI, 4 hours, 21 minutes ago Qatar’s economic growth picked up slightly to 5.7 per cent on an annual basis in the second quarter of this year as robust non-oil activity outweighed a decline in the hydrocarbon sector, official data showed on Tuesday. Real gross domestic product growth accelerated from a […]
The PM has pledged seven-day GP cover by the end of the decade Photo: Geoff Pugh/The Telegraph Everyone will have access to a family doctor seven days a week by the end of the decade, David Cameron has pledged. But according to official figures, millions of patients have to wait a week or more for an appointment with their GP. Doctors’ unions are warning that there would need […]
By S. Sethuraman The Reserve Bank of India’s Fourth Bi-Monthly Monetary Policy Statement on September 30 does not offer any hint of monetary easing in the near future, again citing risks to lowering at present the policy lending repo rate from 8 per cent it has maintained since April, in the current fiscal year. This leaves all other policy rates and reserve ratios unchanged, (reverse […]
The Dubai Mall … a key property of Emaar’s malls unit. Emaar malls unit IPO priced at top of range DUBAI, 12 hours, 27 minutes ago Dubai’s Emaar Properties confirmed on Monday that the initial sale of shares in its malls unit priced at the top of the proposed range amid massive demand from investors, making it the largest stock offer in a Gulf Arab economy since […]
New home? Chelsea could move to Twickenham while Stamford Bridge is redeveloped Photo: PA YES, the sort of widespread disruption that once accompanied football matches is a thing of the past, says Jim White. The very idea of Chelsea fans arriving in Twickenham has apparently put some locals in a state of high anxiety. They are terrified for their hubcaps, petrified about their herbaceous borders, panicked about the […]
By L.S. Herdenia BHOPAL: Brisk preparations are on for the mega investors’ summit to be held in Indore in the first week of October. Chief Minister Shivraj Singh is hopeful that the summit will open the doors for massive investments in Madhya Pradesh. Almost all the important and leading industrial houses of the country are likely to be present in the summit. According to a government spokesman, […]
By Ashok B Sharma The likely face off between Indian and Chinese troops at the line of actual control (LAC) in Ladakh has been averted. Thanks to efforts of the Indian External Affairs Minister Sushma Swaraj and her counterpart Wang Yi at the margins of the UN General Assembly. The Chinese troops have begun withdrawing from Chumar in Ladakh following the flag meeting between two sides. […]
FTTH Council to host 6th annual conference DUBAI, 3 hours, 27 minutes ago Fibre to the Home (FTTH) Council Mena, has announced the launch of its sixth annual conference in the UAE under the theme of ‘FTTH – The Rise of Smart Nation’.According to a 2013 study conducted by the council, UAE has the highest penetration rate in the world of fibre to the home connectivity for […]
By DAVID E. SANGER and ANNE BARNARD September 27, 2014 WASHINGTON — The Pentagon said on Saturday that it had conducted its first strikes against Islamic State targets in a besieged Kurdish area of Syria along the Turkish border, destroying two armored vehicles in an area that has been the subject of a weeklong onslaught by the Islamic State. The action around Kobani, where at least 150,000 refugees have crossed into Turkey, appeared to signify the opening of […]
Supporters of the Shiite Houthi movement in Sana, Yemen, standing around the coffins of their comrades killed in recent fighting. The rebels seized control of much of the capital last week. By REUTERS September 27, 2014 SANA, Yemen — A splinter group of Al Qaeda fired a rocket toward the United States Embassy in Sana on Saturday, wounding local guards. In a post on Twitter, the group said […]
Apple Products May Be Scarce Around the L.A. Clippers The Los Angeles Clippers have a new rival under [basketball team] owner Steve Ballmer, one that cannot fluster them with cheap shots on the court or end their season in heartbreaking fashion. Of course, that doesn’t make Apple products such as the iPad and iPhone any less vexing to Ballmer, the longtime former Microsoft executive who famously bars […]
Deloitte Middle East hires 700 new staff BEIRUT, 2 days ago Deloitte Middle East, a leading provider of audit, tax, consulting, and financial advisory services, hired 700 new people this year while continuing to deliver double digit growth, said the company’s chairman and chief executive. “The firm is also investing heavily in its internal systems and in developing world-class expertise in such areas as cyber security, Private […]
Stephen Fry has boasted of taking drugs in royal palaces and famous hotels Photo: REX FEATURES Someone once called Stephen Fry “a stupid person’s idea of what a clever person is like”. Which is unkind: there’s nothing wicked about being a bit stupid, or admiring celebrities who seem brainy and cuddly, or enjoying a faux-donnish, avuncular figure who admits his problems with depression and makes you feel as […]
