|By Arabian Post Staff|Emaar Malls recorded a net profit of AED 1.42 billion during the first nine months (January to September) of 2016, an increase of 16 per cent over the same period last year at AED 1.22 billion. The total revenue for the first nine months of the year was AED 2.39 billion, which is 10 per cent higher than the revenue of AED 2.17 billion […]
The UAE was ranked first regionally and 16th globally in the latest Global Competitiveness Report issued by the World Economic Forum (Davos) in Switzerland. The report is one of the most important global competitiveness reports, which monitors annual performance and competitiveness of the economies of countries in terms of strength, weakness, impact on quality of life, prosperity and well-being of people. Switzerland, Singapore and the United States […]
MUMBAI/HONG KONG Wal-Mart Stores Inc is in talks to buy a minority stake in India’s largest e-commerce firm Flipkart, two people familiar with the matter said, as the world’s biggest retailer aims to break into a fast growing but highly competitive online retail market. One of the sources said the U.S. retailer was looking to invest between $750 million and $1 billion in Flipkart, but the final […]
|By Arabian Post Staff| Dubai is seeking $2.5 billion in loans to finance a 15-kilometer extension of its metro line to the World Expo site, Bloomberg reported quoting unnamed sources. The news agency said banks have submitted various proposals, including a $1.34 billion facility backed by European export credit agencies. Lenders also bid for a $1.12 billion unsecured, commercial facility that is guaranteed by the Dubai government, […]
SAUDI ARABIA. Saudi Arabia’s non-oil private sector continued on its upward trajectory in August, with business conditions improving to the greatest extent in a year. Output and new business remained the key growth drivers – both rose sharply and more quickly than in July. Employment and input stocks also increased, with a number of companies looking to expand capacity in line with rising workloads. Meanwhile, price pressures […]
UAE. Change is the new normal for the global health care sector, according to Deloitte’s recent report entitled “2016 Global health care sector outlook – Battling costs while improving care”. As providers, payers, governments, and other stakeholders strive to deliver effective, efficient, and equitable care, they do so in an ecosystem that is undergoing a dramatic and fundamental shift in business, clinical, and operating models. This shift is […]
/by Arabian Post Staff/The global growth of asset management stalled as the industry in 2015 recorded its worst year since the 2008 financial crisis, according to a report by The Boston Consulting Group (BCG). Growth in assets under management (AuM) stalled—or in the case of the Middle East declined 10%—and net new flows of assets, revenue growth, and revenue margins all dipped lower in 2015, according to […]
Two new desktop PCs launched by HP today aim to fundamentally change the way users interact with their desktop devices. The Elite Slice is aimed squarely at the enterprise market and seems designed to function primarily as a tool for Skype meetings, while the Pavilion Wave appears to target Amazon’s Echo speaker system. “Today’s desktop customers want sleek, innovative and powerful designs that enable new experiences,” Mike […]
Can the woolly mammoth be brought back from the dead? Scientists say it’s only a matter of time. In fact this year, the International Union for Conservation of Nature issued its first official set of guidelines on resurrecting extinct species. What’s more, university research labs and non-governmental agencies have projects in motion to bring back extinct species. But is all of this a good idea? A new […]
Humans have evolved a disproportionately large brain as a result of sizing each other up in large cooperative social groups, researchers have proposed. A team led by computer scientists at Cardiff University suggest that the challenge of judging a person’s relative standing and deciding whether or not to cooperate with them has promoted the rapid expansion of human brain size over the last 2 million years. In […]
UAE. Project activity in the UAE is forecast to recover in 2017 after a difficult 2016 on the back of a strong recovery in economic growth, according to a new report from Middle East business intelligence service MEED. MEED’s annual UAE Outlook Report for 2016 says that a recovery in oil prices combined with growing public and private sector activity boosted by Dubai’s preparations for the Expo […]
SolarCity Corp (SCTY.O) agreed to Tesla Motors Inc’s (TSLA.O) $2.6 billion offer to buy the solar panel installer, the companies said on Monday, clearing one obstacle in the way of Elon Musk’s ambitious plans for a carbon-free energy and transportation company. Tesla’s offer represented about half of SolarCity’s value a year ago, a tumble reflecting the solar company’s slowing growth, complex financial structure and the increased scrutiny […]
INTERNATIONAL. Stock markets received a welcome boost during trading on Thursday following the Bank of England’s decision not to change interest rates which eased the ongoing Brexit fears, consequently lifting risk sentiment. Asian markets were elevated in the early sessions of Thursday after China’s better than expected GDP results alleviated concerns over slowing economic growth in the world’s second largest economy. Although European markets initially tumbled after […]
JIDDA, Saudi Arabia — For most of his adult life, Ahmed Qassim al-Ghamdi worked among the bearded enforcers of Saudi Arabia. He was a dedicated employee of the Commission for the Promotion of Virtue and the Prevention of Vice — known abroad as the religious police — serving with the front-line troops protecting the Islamic kingdom from Westernization, secularism and anything but the most conservative Islamic practices. […]
The logo of free messaging app Line is pictured on a smartphone and the company’s stuffed toy in this photo illustration taken in Tokyo, Japan, September 23, 2014. Reuters/Toru Hanai/Illustration/File Photo TOKYO Japanese messaging app firm Line Corp priced its initial public offering at the top of its marketed range, putting it on track to raise as much as $1.3 billion and reflecting robust appetite for the […]
UAE. A new generation of young, highly motivated and mostly well-educated men and women is ready to take over leadership of their family businesses, according to Deloitte’s latest report conducted across the Europe, Middle East and Africa region entitled “Next-generation family businesses Evolution, keeping family values alive.” They are resolute and ready to face the challenges ahead in order to maintain the family character of the business […]
Google has already brought its Fiber high-speed Internet service to six cities across the U.S., but it may soon add Dallas, the home turf of AT&T, to its list of deployment targets. In a blog post earlier today, Google announced that is “exploring the possibility” of rolling out its Fiber service in Dallas. AT&T, which is headquartered in Dallas, is already offering its high-speed GigaPower Internet service […]
Saudi Arabia’s sovereign wealth fund made its highest-profile deal, investing $3.5 billion in U.S. ride-share company Uber Technologies Inc. as the country seeks to diversify its assets with more overseas acquisitions. Yasir Alrumayyan, managing director of the Public Investment Fund, will take a board seat at the San Francisco-based company after the deal, which values Uber at $62.5 billion, the company said in a statement. It’s the biggest […]
A pedestrian walks past an Apple iPhone 6 advertisement at an electronics store in Mumbai, India, July 24, 2015. Reuters/Shailesh Andrade/File Photo NEW DELHI India has said Apple Inc must meet a rule obliging foreign retailers to sell at least 30 percent locally-sourced goods if it wishes to open stores in the country, a senior government official told Reuters. Apple is hoping to expand its retail presence […]
Dark matter is a mysterious substance composing most of the material universe, now widely thought to be some form of massive exotic particle. An intriguing alternative view is that dark matter is made of black holes formed during the first second of our universe’s existence, known as primordial black holes. Now a scientist at NASA’s Goddard Space Flight Center in Greenbelt, Maryland, suggests that this interpretation aligns […]
In addition to protecting your iPhone, the new uniVerse Case System from Otterbox also promises to let you expand its battery life, improve its sound quality, and add other functions. The new system, designed for the Apple iPhone 6 and 6s and the iPhone 6 Plus and 6s Plus, allows a user to attach an additional battery, camera lens, or other peripheral to a phone, while still […]
Tech giant Microsoft said today that it has awarded grants to entrepreneurs who want to expand Internet access across the world, especially in less prosperous areas that lack affordable access. The company’s Affordable Access Initiative awards grants to startup companies that are developing new technologies to improve Internet access to communities. The goal of the initiative is to “democratize access to the Internet through grants, commercial partnerships, […]
BEIRUT, Lebanon — Two teams of suicide attackers waged coordinated assaults on Monday deep inside Syrian government territory, killing scores of people and piercing a sanctuary for supporters of President Bashar al-Assad. Merely pulling off the bombings was a logistical feat that calls into question the effectiveness of Syria’s defenses. To reach the areas attacked, the jihadists would have had to move large quantities of explosives and […]
NEW DELHI/MUMBAI Apple Inc chief Tim Cook met Prime Minister Narendra Modi on Saturday, concluding a four-day trip to India that could set the stage for Apple’s expansion plans in one of the world’s fastest growing smartphone markets. Modi and Cook met for an hour in central Delhi and discussed Apple’s plans for its India business, including the possibility of manufacturing and retailing in the country. Apple […]
