|By Arabian Post Staff| Boeing and Emirates announced a commitment to purchase 40 787-10 Dreamliners at the 2017 Dubai Airshow. The deal, including airplanes and related equipment, is valued at $15.1 billion at current list prices. Emirates is the world’s largest Boeing 777 operator and will be the first to receive the new 777X in 2020. In selecting the 787-10, Emirates complements their 777 fleet with a […]
By Saifur Rahman Emirates Group, which include Emirates Airline and its ground handling and ticketing arm Dnata, today reported a 77 per cent jump in net profits to Dh2.3 billion (US$631 million) for the first half of the 2017-18 financial year, starting from April 1, 2017, up from Dh1.3 billion (US$364 million) recorded in the first half of its last financial year – in what is perceived […]
|By Matein Khalid|Emaar Properties will sell 20% of its UAE development portfolio in an initial public offering in November. This is the first IPO in the UAE capital markets in the last three years and follows bellwether offerings such as Emaar Malls and Emaar Misr. Emaar’s Dubai development’s adjusted net value is 24.1 UAE dirhams and I would not be surprised if the post IPO revalues the […]
|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| The combined value of the Expo 2020-related development projects has touched $33 billion (Dh121 billion) as the UAE begins the three-year countdown for the six-month-long mega global event that will kick-off on October 20, 2020, according to BNC Network, a project research and intelligence provider in the Middle East and North Africa (MENA) region. These projects include transport infrastructure, such as the expansion […]
|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| Teneo Holdings, the global CEO advisory firm, today announced that it has acquired Credo Business Consulting LLP, a leading management consulting firm with operations in London and Dubai. Credo is a highly-respected management consulting firm focused on corporate strategy, transaction services, commercial and operating model transformation and performance improvement. With an outstanding reputation for depth of analysis and insight, Credo has helped many of the world’s leading organizations […]
|By Arabian Post Staff| Fitch Ratings has upgraded DP World’s Limited’s Long-Term Issuer Default Rating (IDR) to BBB+ from BBB and affirmed Short-Term IDR at F2. The rating outlook is stable. This follows on Fitch’s rating upgrade in August 2016 from BBB- to BBB and reflects DP World’s solid performance and stable cash flow generation. Fitch also notes the Group’s flexibility in its expansionary plan to maintain […]
|By Arabian Post Staff| SHUAA Capital, the UAE’s premier integrated financial services firm, announced it has entered into an agreement with Integrated Financial Group (IFG), towards the acquisition of Integrated Capital and Integrated Securities. The signing of the agreement follows the completion of the due-diligence process initiated in March. The strategic acquisition, which remains subject to regulatory approvals, of two of the UAE’s most active and successful financial […]
Acquisition Positions JumpStart for International Growth & Expansion of its Mobile Game Offerings for Consumers and Educational Institutions Worldwide TORRANCE, CALIF. (July 6, 2017) – NetDragon Websoft Holdings Limited (“NetDragon”; Hong Kong Stock Code: 777), a global leader in building internet communities, announced that it has acquired JumpStart, the leader in learning-based games for kids. A major player in the global online and mobile learning space, NetDragon […]
|By Arabian Post Staff| Consumer confidence in the UAE remained uncertain in 2016 resulting in the Dubai retail market experiencing further softening in Q1 2017, according to a latest report by Knight Frank. “Well-established malls with higher footfall continue to maintain healthy occupancy rates; however the delivery of additional retail supply is expected to put pressure on overall occupancy rates. UAE shopping malls are also expected to […]
The completion date for new passenger terminal at Dubai’s Al Maktoum International Airport (DWC) has been pushed back to 2018. Dubai Airports, the owner and operator of DWC and Dubai International Airport (DXB), said in its 2015 statement that it expected the expansion to complete in the first quarter 2017. “The expansion of Dubai World Central’s passenger terminal building from the current five million passengers per year […]
Interested in precious metals investing or storage? Contact us HERE Posted with permission and written by John Rubino CLICK HERE FOR ORIGINAL) By now everyone with an Internet connection is aware of the “ransomware” attack that shut down hundreds of thousands of computers over the weekend. The fact that the onslaught is just beginning — as the military-grade hacking tools developed by […]
The Trump administration is considering extending a ban on laptops in aircraft cabins to all flights to the US from anywhere in the world, in a move that would create major disruption for passengers and airlines. US homeland security officials who met European commissioners in Brussels this week said that if Washington does extend its ban on large electronic devices, Europe would not be singled out and […]
DUBAI, United Arab Emirates: Donald Trump Jr. traveled to Dubai and met a billionaire business partner in the city-state, discussing “new ideas” as the Emirati’s real estate firm still lists possible plans for future joint projects while Trump’s father is in the White House.The Trump Organization has said it won’t make new foreign deals while Donald Trump serves as America’s 45th president. That didn’t affect the Trump […]
By Jamie McGeever | LONDON LONDON The turmoil in Washington surrounding Donald Trump’s presidency is rattling world markets, and the burst of volatility could force investors into a strategic or tactical rethink of how much risk they are happy to face. Increasingly damaging revelations about the Trump administration’s and election team’s dealings with Russia triggered the biggest fall on Wall Street on Wednesday since last September and […]
By Robin Emmott | BRUSSELS BRUSSELS France and Germany are resisting a plan by U.S. officials for NATO to take a bigger role in the fight against Islamic State in Syria and Iraq, in line with calls from President Donald Trump for the alliance to do more to combat terrorism. Many alliance members hope the plan will be announced in Brussels next Thursday, when Trump attends his […]
Here is a selection of five charts that FT Markets believes are worth watching. A fresh chart will be added on a regular basis. 1. Wall Street hit by biggest slide since November US stocks suffered their worst trading day in eight months on Wednesday after political turmoil in Washington shook investors, with some fearing President Donald Trump’s ability to push through his pro-growth policies has been […]
Dubai-based Fetchr, a delivery-business and consumer technology app, has secured $41 million in a Series B financing round led by New Enterprise Associates Inc. (NEA), the start-up announced. The app addresses the “no address problem” in emerging markets, typically encountered by traditional companies delivering packages to customers. In a region where more than 80% of users have smartphones, fetchr is tackling delivery challenges by going directly to […]
Japan has recorded its longest run of sustained growth in more than a decade as stimulative policy and a healthier global economy lead to a period of robust progress. Growth for the first quarter of 2017 came in at an annualised 2.2 per cent, according to the Cabinet Office, marking five quarters of continuous expansion in gross domestic product. The figure beat the consensus analyst forecast of 1.7 […]
Jeddah May 17, 2017 The Islamic Corporation for the Development of the Private Sector (“ICD”), the private sector arm of IDB Group, and JSC “KapitalBank” have entered into a Joint Strategic Collaboration to finance SMEs in Uzbekistan. The CEO of ICD, Mr. Khaled Al-Aboodi, and Mr. Sherzod Karimbaev Deputy Chairman of the Management Board of JSC “KapitalBank”, signed the financing agreement for the amount of USD8 million […]
May 17, 2017 The Islamic Corporation for the Development of the Private Sector (“ICD”), the private sector arm of IDB Group, and JSC “Hamkorbank” have entered into a Joint Strategic Collaboration to finance SMEs in Uzbekistan. Mr. Khaled Al-Aboodi CEO of ICD and Mr. Ikram Ibragimov, Chairman of the Supervisory Board of JSC “Hamkorbank”, signed the financing agreement for the amount of USD12 million. The collaboration will […]
Appear Here, a marketplace for short-term retail space that originally launched to ride the ‘pop-up’ shop craze, has raised $12 million in Series B funding. Leading the round is Octopus Ventures, with participation from Simon Venture Group, and existing investors Balderton, MMC, Meyer Bergman and Playfair Capital. It brings total funding for the company to $21.4 million, according to CrunchBase. Founded in London in 2013 by then-20-year-old […]
An Islamic Shariah court in Indonesia’s conservative Aceh province has sentenced two gay men to public caning for the first time, further undermining the country’s moderate image after a top Christian politician was imprisoned for blasphemy. The court, whose sentencing Wednesday coincided with International Day Against Homophobia and Transphobia, said the men, aged 20 and 23, would each be subjected to 85 lashes for having sexual relations. […]
