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The Power Transmission and Distribution Business of L&T Construction has won its single largest order in the Middle East from the Qatar General Electricity & Water Corporation, also known as Kahramaa. The order relates to Kahramaa’s ongoing electricity transmission network expansion plan which aims to meet the ever-increasing demand for power in the Gulf state. The $817 million order will involve the engineering, procurement and construction of […]

Three Lines Shipping, a UAE-based transportation and logistics company, is looking for an investor to help boost its regional expansion and grow its brand, CEO Rafeeq KK has said. An investment of between $15-20 million is expected for a majority stake depending on the type of investor, he said in a statement. TLS said it is looking for an investor with good understanding of the business and […]

Two pillars — Trump and China — have supported a bounteous few months for global portfolio investors. But the hope invested in both is starting to fade, casting a bearish tinge over what nevertheless remains a largely optimistic picture. In the case of Donald Trump, expectations that the US president would act swiftly to push though tax reforms, deregulation and bold infrastructure investments are starting to ebb […]

While geopolitical concerns and French election uncertainty are factors, The Wall Street Journal notes that many markets are flashing red on growth as investors begin to return to pre-election bets on the ol ‘new normal’ – a persistently weak economic expansion. There are clear signs that the sugar rush of Donald Trump’s victory and global-growth hopes has faded, raising doubts among some investors about whether stocks can […]

The Federal Reserve appears to believe that the size of its balance sheet matters, but not that bigger is better. The question is, why not? As the Fed pushes ahead with plans to shrink its stock of about $2.5tn of Treasuries and $1.8tn of mortgage-backed securities to “normal”, it is puzzling that officials haven’t provided a compelling case for why the move is either necessary or desirable. […]

Dubai-based retailer Marka has announced that it is opening the first Reem Al Bawadi outlet in Abu Dhabi as part of its ongoing expansion plans for its flagship brand. The new restaurant brings Reem Al Bawadi to Dalma Mall and will offer a total capacity of 243 covers, with 111 seats inside and 132 seats outside. The venue, which will open this spring, also features a TV […]

Astronomers have detected for the first time multiple images from a gravitationally lensed Type Ia supernova. The new observations suggest promising new avenues for the study of the accelerated expansion of the universe, gravity and distribution of dark matter in the universe. (via WSJ)

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HMH – Hospitality Management Holding is all set for a strong presence at Arabian Travel Market 2017 (ATM). 21 April 2017HMH – Hospitality Management Holding is all set for a strong presence at Arabian Travel Market 2017 (ATM). Mr Ferghal Purcell, COO of HMH, said, “We have a number of strategic announcements lined up for ATM this year that is the MENA region’s largest B2B travel and […]

Emirates will shift aircraft to destinations in Malaysia, Oceania and Africa as the airline scrambles for alternatives after eliminating 25 weekly flights to the US in the fallout from President Donald Trump’s travel restrictions. Planes on US routes usually fly more than 80 percent full in the summer season but are now “percentage points” less than that, hurting the flights’ profitability, Emirates President Tim Clark said in […]

The London market broke a four-day losing streak as the week’s spate of sterling-induced selling eased and consumer stocks from Burberry to Unilever put in robust performances. The marginal gains for the FTSE 100 were not enough to reverse Wednesday’s fall into losses for the year for the benchmark. But UBS maintaining that Burberry was its “preferred turnround name in luxury” and top pick in that European […]

Wall Street still exudes widespread optimism that 2017 will provide another year of solid if unspectacular economic growth and only gentle interest rate rises. With the S&P 500 up over 4.5 per cent for the year, here is a series of charts that will hearten investors of a more bearish persuasion. While there are good reasons why each chart should not be taken too seriously, together they […]

A few months ago, staff at The Minneapolis Star Tribune did something journalists don’t always have the time to do: think way ahead. One year in advance, staff photographers shot images of the Minnesota winter for next winter’s StarTribune Magazine. The quarterly magazine debuted Sunday, marking a new product for a newsroom that’s worked hard over the last year to become more digital. But that new product […]

DOHA, 20 April, 2017  The annual Middle East Forum supports the worldwide movement to improve quality and safety in healthcare and will host healthcare improvement experts and innovators from around the globe during the three day conference from May 5 to 7 2017. The Ministry of Public Health, Primary Health Care Corporation, Sidra Medical and Research Center, World Innovation Summit for Health, and Qatar Biobank will be participating in […]

Emaar Malls, the shopping malls and retail business majority-owned by Emaar Properties, on Tuesday approved a proposal to distribute 10 percent of it share capital, equivalent to AED1.301 billion ($354 million), as a cash dividend to shareholders. Addressing shareholders, Mohamed Alabbar, chairman of Emaar Malls and Emaar Properties, said the success of Emaar Malls is led by the UAE’s robust growth and the vision of Sheikh Mohammed […]

By David Morgan and Yasmeen Abutaleb | WASHINGTON WASHINGTON Top White House deputies returned to the Capitol on Tuesday evening to meet Republican lawmakers and discuss a second attempt at replacing Obamacare. Vice President Mike Pence and other key aides were meeting with members of the moderate “Tuesday Group,” the conservative Republican Study Committee and the House Freedom Caucus, the rebel group of conservative lawmakers that derailed […]

Italian government bond prices were lower on Monday, as investors focused on signs of political sclerosis rather than economic data pointing to strength in manufacturing and a drop in the ranks of the unemployed. The difference between Italian 10-year sovereign bonds and the benchmark German Bund — a key measure of investor confidence as it shows the premium traders are demanding to buy Italian debt — hit […]

By Nichola Saminather | SINGAPORE SINGAPORE Asian shares inched lower on Tuesday as caution reigned ahead of a potentially tense meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping later this week. The dollar lost ground after investors sold stocks overnight and looked to safe havens as political uncertainty overshadowed positive U.S. economic data and solid growth in global manufacturing. European markets were also […]

HealthEngine announced on Tuesday that it has raised AU$26.6 million in a Series C round led by Sequoia India, who is joining existing investors Telstra Ventures and Seven West Media on the company’s board. Alium Capital and some high net worth family offices participated in the round, as did existing investors including Go Capital, Lux Group managing director Adam Schwab, and founder of Carsales Greg Roebuck. The […]

By Julia Edwards Ainsley | WASHINGTON WASHINGTON The U.S. Department of Homeland Security announced steps on Monday to prevent the fraudulent use of H1B visas, used by employers to bring in specialised foreign workers temporarily, which appeared to fall short of President Donald Trump’s campaign promises to overhaul the programme. Trump had promised to end the lottery system for H1B visas, which gives each applicant an equal […]

The annual Cesco Week gathering for the global copper industry starts Monday in Santiago. For the first time in five years, attendees arriving in the Chilean capital can reflect on a copper price that is higher than at the previous year’s event. However, optimism that 2017 represents a turning point in the market should be tempered by the realisation that any sustained recovery in the copper price […]

Monday 09:35 BST What you need to know ● Equities starting second quarter on the front foot● S&P 500 futures just 1.5 per cent off record and Euro Stoxx up 0.4 per cent ● Investors keeping a watch on national manufacturing surveys● Dollar little changed against peers and South African rand continues to slide● Brent and WTI crude hold above $50 a barrel, while gold soft——————- Hot […]

TOKYO Asian shares started the week on a steady footing on Monday after a bumper quarter as investors look to the shape of U.S. trade and economic policies and how they could affect global growth. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was little changed in early trade while Japan’s Nikkei .N225 rose 0.1 percent. Ex-Japan Asia MSCI had gained 12.3 percent in the last […]

Ecommerce platform MallfortheWorld has announced that consumers in the UAE, Saudi Arabia and Qatar will now have access to more than 150 of US retailers through its app, marking its first foray into the Middle East.  MallfortheWorld said in a statement that its cross platform app, with both desktop and mobile versions available, will launch in other Gulf countries by the end of the year. The website […]

Marka, the UAE’s first retail-focused listed company, has reported a net loss of AED150 million ($40.8 million) for the full financial year of 2016. The company, which has exclusive rights to manufacture and sell Real Madrid products in the Gulf region, reported total revenue of AED294 million, an increase of nearly 37 percentover the full year results for 2015. Marka added that the net loss was mainly […]

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