|By TAP Staff| Dutch bank ABN Amro said it has paid fines to regulators in the Netherlands and Dubai over “serious shortcomings” in vetting clients and managing risk at its private banking operations. The statement comes a week ahead of the bank’s proposed IPO. The Dubai investigation had put a shadow over the bank, which naturally had a bearing on the forthcoming IPO. ABN said on Wednesday […]
AUCKLAND, New Zealand The next revolution in space, making humdrum what was long the special preserve of tax-funded giants like NASA, will be launching next year from a paddock in New Zealand’s remote South Island. The rocket launch range is not just New Zealand’s first of any kind, but also the world’s first private launch range, and the rocket, designed by Rocket Lab, one of a growing […]
|By TAP Staff| The GFMS Gold Survey for the third quarter is bearish on the short term prospects of gold and expects the metal to trade back down below $1,100/oz for the remaining months of the 2015. According to the survey, published by Thomson Reuters, gold is set to remain under pressure until there is more clarity on the timing and the scale of US rates normalisation. […]
A Dell logo is pictured on the side of a computer in this photo illustration in the Manhattan borough of New York October 12, 2015. Reuters/Carlo Allegri NEW YORK Dell Inc is preparing to sell around $10 billion in non-core assets, including software and services, to reduce the heavy debt load it will be taking on to buy EMC Corp (EMC.N), according to people familiar with the […]
The price range for mobile payments company Square Inc’s initial public offering will be set this week and its shares will start trading in the week before Thanksgiving, CNBC said in a tweet on Monday, citing sources. The company, headed by Twitter Inc (TWTR.N) Chief Executive Jack Dorsey, filed for an IPO on Oct. 14. Square’s roadshow, which will likely take Dorsey across the globe to drum […]
Boston-based enterprise storage provider ClearSky Data said it has raised $27 million in a Series B investment round led by Polaris Partners, along with Akamai Technologies. The money will be used by ClearSky to refine its managed service delivery model for enterprise storage, which the company said combines the performance and availability of primary storage with the economics and scalability of the cloud. ClearSky made a splash […]
As the latest figures from StatCounter and Netmarketshare for October show slowing adoption rates for Windows 10, Microsoft is looking at ways to nudge more users into its new operating system. The company revealed last week that it will soon classify Windows 10 as an “optional update” for users with devices still running Windows 7 and Windows 8.1. And early in 2016, it plans to recategorize Windows […]
|By TAP Staff| Emaar Properties recorded a growth in net profit of 16 per cent for the first nine months (Jan to Sept) 2015 to AED 3.048 billion (US$ 830 million) compared to AED 2.622 billion (US$ 714 million) during the same period in 2014. Revenues for the first nine months of 2015 were AED 9.849 billion (US$ 2.681 billion), a growth of 25 per cent over […]
Japan’s Bank of Tokyo-Mitsubishi UFJ (BTMU) has launched its Islamic finance business in Dubai, to focus on sharia-compliant loan syndications with later plans to offer project financing, a bank official said. Large Asian lenders from China to Japan are increasingly interested in Islamic finance as a way to tap large pools of liquidity in southeast Asia and the Gulf. In July, BTMU received approval from the Dubai […]
Nick Roy/mensxp.com/It seems Asians and Americans are in imminent danger of a mega earthquake that has the potential to kill 4 Crore people and divide the American continent. And it will be the worst earthquake mankind has ever witnessed warns Nuclear Engineer Dr. Keshe. If his theory is to go by then the North and South America will split and mega tsunamis ‘could strike America and Asia […]
|By TAP Staff| Emaar Malls, the shopping malls and retail business majority-owned by global property developer Emaar Properties, recorded net profit of AED 1.22 billion (US$ 332 million) during the first nine months (January to September) of 2015. This is 30 per cent higher than the net profit for the same period last year. Net profit during the third quarter (Jul to Sep) 2015 was AED 376 […]
If I were to put this year’s Nashville British Car Club Show description into a few words, they would be… “Quality, not Quantity.“ For the last few years ( 2010, 2011, 2012, and 2013 to be exact), I’ve had the pleasure to try to showcase the magnificent automotive examples presented at the Nashville British Car Club Shows. But sadly, 2014’s event was washed out by heavy rain. There was […]
|By Matein Khalid| Saudi Arabia has fascinated me since I first met Hani AZ Yamani as a teenage student all those years ago at Wharton. Hani’s father was Sheikh Ahmed Zaki Yamani, legendary Saudi Oil Minister (1962-86) under Kings Faisal, Khalid and Fahd. Sheikh Yamani managed the 1973 and 1979 oil shocks, survived a terrorist assault in Vienna by Carlos the Jackal, midwifed the birth of Saudi […]
|TAP Special by K Raveendran| Landmark events about the development of a shopping mall generally involve major leasing deals or signing up flagship brands, or the launch of the mall itself. But Qatar’s Tawar Mall, coming up in a prime Doha locality, was the scene of a bit of fanfare this week for none of the above. The mall owners, belonging to the leading Qatari business family […]
|TAP Special by K Raveendran| Landmark events about the development of a shopping mall generally involve major leasing deals or signing up flagship brands, or the launch of the mall itself. But Qatar’s Tawar Mall, coming up in a prime Doha locality, was the scene of a bit of fanfare this week for none of the above. The mall owners, belonging to the leading Qatari business family […]
|By TAP Staff| According to an assessment of the post-sanctions situation for Iranians to invest in Dubai’s real estate, Dubai homes are 4.4 times more expensive compared to five years ago. “This is simply a matter of economics,” Jesse Downs, managing director of Phidar Advisor, was quoted as saying. The rial will take time to appreciate and until that happens, Dubai property will be very expensive for […]
Gold is starting to shed its reputation as a dead asset, and bulls can thank signs that the U.S. economy is starting to sputter for the boost. The metal climbed above its 200-day moving average on Wednesday for the first time in about five months. A gauge of inflation dropped by the most since January and retail sales missed forecasts, increasing traders’ bets that the Federal Reserve […]
|By TAP Staff| Dubai Water and Electricity Authority has chosen a consortium including China’s Harbin Electric and Saudi Arabia’s ACWA Power as the preferred bidder to build and operate a 1,200 megawatt clean coal power plant. The plant is the first phase of the $1.8 billion Hassyan clean coal project under planning by Dubai Electricity and Water Authority (DEWA). One unit of 600 MW is to be […]
|By TAP Staff| Etihad Airways and IBM announced a ten-year technology services agreement worth approximately US$700 million. The transformational agreement, one of the most important strategic collaborations by Etihad Airways, will provide access to the latest cloud-based technologies and services for the airline, its group companies and equity partners. Etihad Airways, one of the fastest-growing airlines in the world, carried 14.8 million passengers in 2014, and serves […]
|By TAP Staff| The Organization of Petroleum Exporting Countries has forecast the first fall in U.S. oil production in eight years. Total output of crude and natural gas liquids is forecast to fall 0.5 percent to 12.47 million barrels a day next year, the Organization of Petroleum Exporting Countries said in its monthly market report Monday. The decline is being driven by the fall in prices, which has […]
|By TAP Staff|Indian nationals were ranked first for foreign investment in Dubai’s property sector for the first half of this year, having made a total of 3,017 transactions worth AED 7.8 billion, according to statistics released by the Dubai Land Department. British investors were in second place having conducted deals worth AED 4.7 billion, followed by Pakistani investors with transactions worth AED 3.3 billion. Canadian investors came […]
|By TAP Staff| September data from Emirates NBD Dubai Economy Tracker signaled a sustained upturn in output levels within Dubai’s private sector economy, helped by growth across all three key sub-categories of activity monitored by the survey. Overall rates of business activity and new orders growth were, however, softer than those seen on average through the first half of 2015. As a result, private sector companies were […]
|By TAP Staff| The Dubai Gold and Commodities Exchange (DGCX) said it would list two new futures contracts to trade this week. The first, the India Silver Quanto Futures contract, would trade before and after the closure of Indian markets to offer traders increased trading opportunities and would be cash settled and denominated in U.S. dollars. The second contract will be the Mini WTI contract sized at […]
A Microsoft logo is seen at a pop-up site for the new Windows 10 operating system at Roosevelt Field in Garden City, New York July 29, 2015. Reuters/Shannon Stapleton/Files Microsoft Corp unveiled on Tuesday its first laptop, a line of Lumia smartphones, a new Surface Pro tablet and an updated version of its wearable fitness tracker, Microsoft Band, all running on Windows 10, its latest operating system. […]
