UAE. On 20 July 2015, the UAE announced its adoption of a Federal Law, Law No 2 of 2015 on Preventing Discrimination and Hatred (the “Law”). Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, has announced that the law “guarantees the freedom of individuals from religious intolerance … and underpins the UAE’s policy of inclusiveness.” Although the main aim of the Law appears to be […]
UAE. Media outlets in the UAE and elsewhere have picked up on a variety of recent stories regarding the use of social media in the UAE. These stories include one about an Australian expat being arrested, jailed and deported after posting a picture of a car taking up two disabled parking spots. A similar story from earlier in the summer related to an appellate decision to overturn […]
By WILLIAM J. BROAD August 8, 2015 Twenty-nine of the nation’s top scientists — including Nobel laureates, veteran makers of nuclear arms and former White House science advisers — wrote to President Obama on Saturday to praise the Iran deal, calling it innovative and stringent. The letter, from some of the world’s most knowledgeable experts in the fields of nuclear weapons and arms control, arrives as Mr. Obama is lobbying […]
UAE. July data suggested that the UAE’s non-oil private sector regained some of the growth momentum that was lost at the end of the second quarter. Output and new orders both rose at sharper rates, contributing to a robust overall improvement in business conditions. Job creation was also sustained at a solid pace. On the price front, data highlighted divergent trends in July. The rate of cost […]
SAUDI ARABIA. Saudi Arabia’s non-oil private sector began the third quarter of 2015 on a positive note, with business conditions improving at the fastest pace in three months during July. Stronger growth of the sector as a whole was mainly driven by sharper expansions in both output and new orders, while purchasing activity also rose more quickly. However, data for employment bucked the general trend, as the […]
SAUDI ARABIA. JLL, the world’s leading real estate investment and advisory firm, today released its second quarter (Q2 2015) Riyadh Real Estate Market Overview that asses the latest trends in the office, residential, retail and hotel sectors in Saudi Arabia’s largest city. Mr Jamil Ghaznawi, National Director and Country Head of JLL KSA, commented: “there has been relatively little change in the real estate market in Riyadh […]
Viva, Kuwait’s fastest-growing telecom operator, has reported a net profit of KD21.6 million ($71.3 million) for the first half of the year, jumping 14 per cent compared to the same period last year. Total revenues reached KD134 million ($442.5 million), growing 18 per cent when compared to KD113 million ($373.1) in H1 2014. Operational profit increased by 24 per cent, from KD20 million ($66 million) in H1 […]
|By TAP Staff| Emaar Properties reported a 16 percent rise in second-quarter net profit as other income increased and it received more money in income tax credits. Emaar made a net profit of 1.18 billion dirhams ($321.3 million) in the three months to June 30, up from 1.02 billion dirhams on the prior-year period, the company said in a statement. SICO Bahrain had forecast Emaar’s second-quarter profit […]
A BMW i3 electric car is seen during the opening of the 85th International Motor Show in Geneva March 5, 2015. Reuters/Arnd Wiegmann/Files VIENNA The chief executive of BMW (BMWG.DE) hinted in a German paper that there was potential for another of its “i” electric car models. “Between the i3 and the i8, there is space if you look at it from the number point of view,” […]
Protesters in Baghdad on Friday. High temperatures have made the lack of reliable electricity a bigger political issue than usual. By ANNE BARNARD August 1, 2015 BAGHDAD — In the Iraqi summer, when the temperature rises above 120 degrees Fahrenheit, electricity becomes even more of a political issue than usual. This past week, at the top of Iraqis’ agenda, it has even eclipsed war with the Islamic State. The […]
By ANNE BARNARD and ERIC SCHMITT July 31, 2015 BAGHDAD — A Syrian insurgent group at the heart of the Pentagon’s effort to fight the Islamic State came under intense attack on Friday from a different hard-line Islamist faction, a serious blow to the Obama administration’s plans to create a reliable military force inside Syria. The American-led coalition responded with airstrikes to help the American-aligned unit, known as Division 30, in […]
BAGHDAD — A Syrian insurgent group at the heart of the Pentagon’s effort to marshal local foot soldiers against Islamic State militants came under intense attack on Friday from a different hard-line Islamist faction, the Qaeda-linked Nusra Front. The Nusra Front said in a statement that its aim was to eliminate the American-aligned unit, known as Division 30, before it could gain a deeper foothold in Syria. […]
ANTAKYA, Turkey — A Pentagon program to train moderate Syrian insurgents to fight the Islamic State has been vexed with problems of recruitment, screening, dismissals and desertions that have left only a tiny band of fighters ready to do battle. This tiny band, 54 in all, suffered perhaps the most destructive problem yet on Thursday: Its leader, deputy and at least five others were abducted in Syria, […]
Dubai realtor S&K blames weak market for bankruptcy DUBAI, 1 days ago Dubai-based real estate agency S&K Estate Agents said a deteriorating property market in the emirate contributed to its decision to file for bankruptcy and be liquidated. “Simply put, the revenue being generated by the business drastically reduced over the first half of 2015, without enough income to cover operational costs,” S&K said in an emailed […]
|TAP Special by K Raveendran| The Dubai residential market continues to face downward pressure as rents and sale prices decline. It’s perhaps indicative of a systemic shift that the current phase’s first bankruptcy has just been filed. According to a JLL report citing the REIDIN indexes, the sales index dropped by 8% for the one-year period ending June 2015, with declines in apartment sale prices exceeding that […]
DUBAI // A foundation providing help and shelter for abused women and children has reported a rise of two-thirds in calls to its hotline for the first half of this year. The Dubai Foundation for Women and Children received 2,034 calls in the six months – an increase of 63 per cent – 552 of which were about women and children suffering some form of abuse. Director […]
People talk in front of a Baidu’s company logo at Baidu’s headquarters in Beijing January 16, 2014. Reuters/Jason Lee Baidu Inc’s (BIDU.O) quarterly profit missed analysts’ estimates as China’s biggest Internet search company spent heavily to diversify away from its core search advertising business, which is becoming less profitable and more competitive. Baidu’s shares fell more than 8 percent in extended trading on Monday after the company’s […]
Dubai Financial Market (DFM), the Gulf’s only listed stock exchange, reported a 48 percent fall in second-quarter net profit on Monday as bourse turnover slumped. The firm, which runs securities trading in Dubai, made a net profit of 132.4 million dirhams ($36.05 million) in the three months to June 30, down from a net profit of 252.5 million dirhams in the year-ago period, a statement said. DFM’s […]
The Incirlik Air Base in southern Turkey on Monday. Turkey and the United States agreed on a plan that would create what officials are calling an Islamic State-free zone, which the Turks say could also be a “safe zone” for displaced Syrians. By ANNE BARNARD, MICHAEL R. GORDON and ERIC SCHMITT July 27, 2015 BAGHDAD — Turkey and the United States have agreed in general terms on a plan that envisions American warplanes, […]
Mark Zuckerberg, founder and CEO of Facebook, addresses a gathering during the Internet.org Summit in New Delhi October 9, 2014. Reuters/Adnan Abidi/Files MUMBAI Facebook Inc plans to scale up its service to offer free basic Internet on mobile phones, an executive said, after introducing the application in 17 developing countries over the past year. In a blog post released to mark the first year of the initiative, […]
Pearson Plc is in talks to sell its half stake in the publisher of the 172-year-old Economist magazine, marking another step toward the former conglomerate’s transformation to an education company. The Economist is one of the assets that were excluded from London-based Pearson’s agreement this week to dispose of the FT Group to Japan’s Nikkei Inc. Pearson’s 50 percent holding could be valued at as much as […]
A surge in shares of Amlak Finance since they returned to Dubai’s stock market last month has raised concerns about a new wave of unbridled speculation on one of the region’s biggest exchanges. The Islamic mortgage lender has soared about 150 percent since it restarted trading in early June after a six-year suspension due to debt problems. At its latest close of 2.52 dirhams, the stock is […]
July 24, 2015 By LAILA LALAMI One afternoon last April, I stood in the doorway of my daughter’s room, watching her prepare for a big recital. She was going to perform with her middle-school orchestra in Santa Monica. She packed her violin, rosined her bow, put on a black dress and tamed her wild hair into a bun. ‘‘There,’’ she said. ‘‘I’m ready.’’ How lovely she looked, […]
Video | Kerry Defends Nuclear Deal to Senate Secretary of State John Kerry defended the Iran nuclear deal on Thursday before the Senate Foreign Relations Committee, meeting resistance from Republican members of the group. By JONATHAN WEISMAN and MICHAEL R. GORDON July 23, 2015 WASHINGTON — After four and a half hours of contentious questioning, three cabinet secretaries deployed Thursday by President Obama to the Senate to defend his nuclear deal with […]
