JERUSALEM — Pope Francis inserted himself directly into the collapsed Middle East peace process on Sunday, issuing an invitation to host the Israeli and Palestinian presidents for a prayer summit at his apartment in the Vatican in an unexpected overture that has again underscored the broad ambitions of his papacy. Francis took the extraordinary step in Bethlehem, where he became the first pontiff ever to fly directly […]
Western Sahara Viewed From International Space Station | NASA Western Sahara Viewed From International Space Station On May 23, 2014, Expedition 40 Commander Steve Swanson posted this photograph — taken from the International Space Station — to Instagram. Swanson noted, “Western Sahara – the contrast between the sand and the water is spectacular from here.” Swanson uploaded the first image from space to Instagram on April 7. […]
Etihad Airways had access to an interest-free $3 billion loan from Abu Dhabi’s ruling family, the Australian Financial Review newspaper said on Thursday, prompting criticism from rivals that have long complained of state support for the carrier. Citing what it said were leaked documents prepared for prospective financiers in 2011, the newspaper said the loan for government-owned Etihad required no repayments until 2027. The airline, which also […]
The Tories are the only party offering a realistic prospect of the referendum that Ukip longs for – and David Cameron needs all the allies in Brussels that he can get Photo: Eddie Mulholland It is a political truism that the European and local elections are an irrelevance, certainly compared with the serious business of a general election. Yet even if that were true, we are still on […]
Attacks on Nigel Farage, Ukip’s leader, by other politicians have not damaged his standing with voters Photo: EPA Nick Clegg was at his most priggish this week as he sought desperately to persuade the public not to back Ukip in the European elections. Indeed, he laid into not only Nigel Farage, but all those who back him – which, by my reckoning, could be some five million voters. […]
Preparations for Expedition 40/41 Launch to International Space Station Three new Expedition 40/41 crew members are counting down to their May 28, 2014 (U.S. time) launch to the orbital laboratory. The trio is in its crew quarters at the Cosmonaut Hotel in Baikonur, Kazakhstan, finalizing mission preparations. Soyuz Commander and cosmonaut Maxim Suraev, NASA astronaut Reid Wiseman and European astronaut Alexander Gerst will launch aboard the Soyuz […]
How much? Labour leader Ed Miliband estimated the price of his weekly shop at something like £70 or £80 – roughly £30 below the UK average Photo: PA David Cameron must have been beside himself with glee. On the penultimate day of campaigning for the local and European elections, his two main rivals – Nigel Farage and Ed Miliband – bounced from blunder to blunder. Mr Miliband kicked […]
GAZA — For 14-year-old Aseel Radi, the promised reconciliation between warring Palestinian political factions is viewed through a forlorn fountain in a crowded market on the eastern side of Gaza City. Aseel used to visit the fountain in what is known as Palestine Square with her father, Maher, a member of the Fatah faction’s armed wing who was killed by militants from its rival, Hamas, during the […]
BP’s chief economist is jumping ship to the Abu Dhabi Investment Authority to establish and run a global research team for the sovereign wealth fund. Christof Ruhl is joining the Abu Dhabi Investment Authority to establish and run a global research team. Bloomberg News Christof Ruhl, a German academic who specializes in energy economics and has been with BP since 2005, will start at ADIA in July, […]
A Deutsche Bank stake worth 1.75 billion euros has already been placed with an investment vehicle owned and controlled by Sheikh Hamad Bin Jassim Al-Thani, Qatar’s former prime minister. Reuters Qatar is again swooping in to help one of Europe’s biggest banks – this time with a twist. Paramount Holdings Services, a vehicle owned by former prime minister Sheikh Hamad bin Jassim Al Thani, agreed to put […]
Sheikh Hamad bin Jassim bin Jabr Al Thani, who played a key role in Glencore International Plc’s takeover of Xstrata Plc, is returning to dealmaking a year after his ouster as prime minister and head of Qatar’s sovereign wealth fund. Sheikh Hamad is injecting 1.75 billion euros ($2.4 billion) into Deutsche Bank AG through his Paramount Holdings Services Ltd. investment vehicle, the Frankfurt-based bank said May 18. […]
Dutch far-right politician Geert Wilders Agence France-Presse/Getty Images Saudi Arabia is considering trade measures against the Netherlands because of stickers resembling the kingdom’s flag and carrying anti-Islam slogans printed by far-right politician Geert Wilders. Local business daily Al Eqtisadiah reported on Friday that the chambers of commerce have received an order to ban Dutch companies from bidding for future projects in the country, halt visits of business […]
Qatar Investment Authority is acquiring joint control of a group of luxury hotels in five European cities including the Carlton InterContinental in Cannes and Amsterdam’s Amstel InterContinental. The Qatari sovereign wealth fund’s Katara Hospitality unit is also taking joint control of InterContinental hotels in Frankfurt, Madrid and Rome, according to a notice on the website of the European Commission’s competition authority. The hotels are managed by and […]
Happier days: Nick Clegg and David Cameron in 2010 agree to form a coalition government Photo: Getty Images Just before the general election, the Conservatives released a party political broadcast warning that a coalition would bring disaster. “Under-the-table deals will be the order of the day,” we were told. The fate awaiting savers was depicted by a hammer smashing a piggy bank. The process of proper government would […]
STORY HIGHLIGHTS Porta Nuova aims to transform Milan’s skyline Project will feature new skyscrapers and buildings covered with trees Some experts believe construction ventures like these could get Italian economy moving One Square Meter explores the leading architectural designs, city plans and demand for property investment in emerging markets. Join CNN’s John Defterios as he visits some of the world’s most dynamic cities for an insight into […]
Middle East borrowers are increasingly weighing Australian-dollar bonds as they seek to tap one of the world’s biggest sources of pension funds, according to HSBC Holdings Plc. Three regional lenders including National Bank of Abu Dhabi sold A$1.05 billion ($984 million) of debt this year, known as Kangaroo bonds, compared with two sales in 2013 for A$475 million, according to data compiled by Bloomberg. “We expect to […]
Dubai is set to become a smart city in the next three years, which would see a thousand government services going smart along with other changes that will make daily life of the residents smoother. There will be service booths in public places like malls equipped with video conferencing, document scanning and printing services so that people can complete almost all paperwork without visiting any of the […]
If you are looking for an explanation as to why crude oil prices in Asia aren’t lower, then the blame rests squarely with Chinese stockpiling. China’s record imports of 6.78 million barrels per day (bpd) in April give the impression that oil demand is roaring ahead, but the reality is that almost half a million bpd is being put into storage tanks. The authorities don’t officially disclose […]
Gold fell to its weakest in a week early on Monday as the euro hovered near a one-month low on fears of policy action from the European Central Bank, but the metal recovered some losses on safe-haven demand over escalating violence in Ukraine. Spot gold eased 0.2 percent to $1,286.40 an ounce by 0313 GMT, after dropping to a one-week low of $1,279.60 earlier in the session. […]
With Alibaba Group Holding Ltd. filing to go public, the biggest winner won’t be founder Jack Ma or his fellow executives or even venture capital backers like Silver Lake Management LLC. It’ll be Japan’s Masayoshi Son. Fourteen years ago, Son’s SoftBank Corp. started with a $20 million bet on a then-unknown Web portal connecting Chinese manufacturers with overseas buyers. That site evolved into China’s biggest Internet shopping […]
As Dubai freight-forwarding firm Able Logistics Group began preparing early this year to go public, it conducted a leveraged recapitalisation, taking on fresh bank debt so it could pay a cash dividend to shareholders. By the standards of developed Western markets, the transaction was routine. But for the Middle East it was an unusually creative deal, a sign that the region’s private equity industry is finally building […]
Abu Dhabi’s Etihad Airways on Sunday said its strategy of buying stakes in European airlines was bringing fresh competition to the region, despite close scrutiny by regulators over whether its investments comply with European ownership rules. State-owned Etihad is building up a network of minority stakes in airlines around the world as it seeks to drive traffic to its Abu Dhabi hub. “We are bringing competition in […]
NEW DELHI (Reuters) – New Delhi has asked the European Union to lift a ban on Indian mangoes, as the country has already addressed the issue cited by the 28-nation bloc in a clampdown on shipments from next month. The EU informed India in March that shipments of premium Alphonso mangoes would be blocked from May until December 2015 after authorities in Brussels found consignments infested with […]
When French wine and cognac bottle maker Saverglass decided to expand three years ago, it chose a relatively remote, less affluent location in the United Arab Emirates for its plant rather than the business hubs of Dubai and Abu Dhabi. The company sited its 75 million euro ($105 million) factory, which produces some 400,000 bottles a day, in the desert emirate of Ras Al Khaimah, an hour’s […]
