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UAE. Dubai private sector companies indicated a modest rebound in output growth from the 18-month low recorded during April, according to the latest Emirates NBD Dubai Economy Tracker™ report. The latest survey also pointed to a slightly faster expansion of incoming new work, while modest job creation and positive sentiment regarding the business outlook was sustained. Of the three key sub-sectors monitored by the survey, construction was […]

UAE. Invesco today released its third annual Invesco Global Sovereign Asset Management Study[1], an in-depth report on the complex investment behaviour of sovereign wealth funds, conducted amongst more than 50 individual sovereign investors across the globe representing $7.09 trillion2 of assets, including Middle East based sovereign wealth funds. This year’s study took place against a backdrop of an extreme fall in the price of oil and provides […]

ISTANBUL — Late into the night on Sunday on the shattered streets of Kobani, the Syrian Kurdish city devastated last year by battles with militants affiliated with the Islamic State, residents celebrated the outcome of the recent Turkish parliamentary election results, honking horns, cheering and firing their guns. The election, in which the Kurdish party surpassed a threshold for the first time to enter Parliament, was the […]

WASHINGTON — In a major shift of focus in the battle against the Islamic State, the Obama administration is planning to establish a new military base in Anbar Province and send 400 American military trainers to help Iraqi forces retake the city of Ramadi. Although a final decision by the White House has yet to be announced, the plan follows months of behind-the-scenes debate about how prominently […]

WASHINGTON — President Obama has authorized the deployment of up to 450 more American troops to Iraq to train and assist the Iraqi forces battling the Islamic State, the White House announced on Wednesday, signaling a major shift of focus in the fight against the Sunni militant group. The United States forces will use Al Taqqadum, an Iraqi base near the town of Habbaniya in eastern Anbar […]

Al Hilal Bank opens new branch in Masdar City ABU DHABI, 6 days ago Al Hilal Bank has inaugurated its new brand in the Masdar City, a mixed-use project being developed in Abu Dhabi which is envisioned to emerge as a sustainable eco-city. The branch aims at highlighting Al Hilal Bank’s commitment to introducing products, services and facilities that are environmentally friendly and powered by state-of-the-art technology. […]

Researchers work at a laboratory at a genomics organization in Tianjin, China, April 2, 2014. Reuters/Stringer SHANGHAI/LONDON Years of pouring money into its laboratories, wooing scientists home from overseas and urging researchers to publish and patent is starting to give China a competitive edge in biotechnology, a strategic field it sees as ripe for “indigenous innovation.” The vast resources China can throw at research and development – […]

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A 3D plastic representation of the Facebook logo is seen in this illustration in Zenica, Bosnia and Herzegovina, May 13, 2015. Reuters/Dado Ruvic NEW YORK Overseas markets bring in more advertising revenue than the United States for Facebook Inc, amounting to 51 percent of global ad sales in the first quarter, with growth in Asia the fastest in the world at 57 percent, company executives told Reuters. […]

Chinese inventor of the e-cigarette Hon Lik poses for a photograph in central London, Britain June 9, 2015. Reuters/Stefan Wermuth LONDON Before Hon Lik invented the e-cigarette, a device now shaking up the Big Tobacco industry, he was a pharmacist in China struggling to quit a two-to-three pack a day smoking habit. Once in 2002, Hon forgot to remove a nicotine patch from his stomach before bed […]

Renovations have started at a 9.5-acre compound in the West Bank that started as a church-run hospital in the 1950s and later became a hostel for travelers. By JODI RUDOREN June 9, 2015 NEAR EL AROUB REFUGEE CAMP, West Bank — The old stone compound set amid Palestinian farmland between the cities of Bethlehem and Hebron has a relatively new fence. The compound, with eight buildings spread over 9.5 […]

UAE. Today, Phidar Advisory released its Q2 mid-quarter Dubai residential research note. The report shows that residential prices continue to decline in the first six weeks of Q2, compared to Q1-15.  “The ongoing erosion of sale prices is a healthy correction” said Jesse Downs, Managing Director of Phidar Advisory. “The more significant concern is the scale and nature of the upcoming launched and announced projects.” she added. Apartment […]

UAE.  The European football market grew to total $28.9 billion in 2013/14. Revenue growth across all of the ‘big five’ European leagues (Bundesliga, La Liga, Ligue 1, Premier League and Serie A), saw the combined revenues of the ‘big five’ leagues pass the $15 billion mark ($15.3bn), according to the 24th Annual Review of Football Finance from the Sports Business Group at Deloitte. Dan Jones, Partner in […]

By ADAM LIPTAK June 8, 2015 WASHINGTON — Against the backdrop of generations of conflict in the Middle East and the longstanding tensions between Congress and presidents on the conduct of foreign policy there, the Supreme Court on Monday struck down a law that allowed American parents of children born in Jerusalem to obtain passports saying the children were born in Israel. The vote was 6 to 3, with […]

Big Blue is looking to make its mark on the mobile device and wearables market. No, IBM isn’t pushing out a smart watch or even a smartphone. In partnership with SiCAD, a silicon design platform company, IBM just announced High Performance Services for Electronic Design Automation (EDA). IBM is billing EDA as the electronic industry’s first enterprise-class, secure cloud service that provides on-demand access to electronic design […]

Tech giant Apple’s annual Worldwide Developers Conference (WWDC) kicked off Monday at the Moscone West convention center in San Francisco with the headlining keynote address. Among the topics discussed during the address were new capabilities for OS X, updates coming to iOS, native apps for the Apple Watch, a streaming music service, and a new version of the watchOS operating system. At the event, Apple also introduced […]

|TAP Special| Sections of public opinion in the Arab Gulf see anti-Arab bias and the grudge in losing the bid  for hosting World Cup as the main motivation for the campaign against Qatar in the award of 2022 tournament. As it becomes increasingly clear that the corruption scandal can have very negative implications for the hosting of the tournament, the Arab public opinion is also becoming more […]

Emirates NBD generates financial report 30pc faster with MDS DUBAI, 4 days ago Emirates NBD has generated its year-end financial statements 30 per cent faster than the previous year, working with the MDS ap, an exclusive partner on the SAP Business Analytics Portfolio of products. The application allowed it to manage critical disclosures and heighten trust and transparency for investors, said a statement. Surya Subramaniam, group chief […]

Video | Libya: Wake Up, Benghazi! On June 25, 2014, Salwa Bugaighis was shot dead in her home by unknown militants, marking a new milestone in the country’s descent towards anarchy: the first female political assassination. By DAVID D. KIRKPATRICK June 7, 2015 Scores or perhaps hundreds of killings remain unsolved in Benghazi, Libya, since the ouster of Col. Muammar el-Qaddafi nearly four years ago. But no victim has symbolized […]

Plastic caution tape marks a small construction area on the exterior of the U.S. Internal Revenue Service (IRS) building in Washington May 27, 2015. Reuters/Jonathan Ernst WASHINGTON A massive breach of U.S. federal computer networks disclosed this week is the latest in a flood of attacks by suspected Chinese hackers aimed at grabbing personal data, industrial secrets and weapons plans from government and private computers. The Obama […]

Political unrest dents business confidence in region DUBAI, 3 days ago Political turmoil and instability in the region have led to a drop in business confidence in the UAE and Middle East in the first quarter (Q1) of 2015, according to a new survey of finance professionals. The Global Economic Conditions Survey for the first quarter of 2015, carried out by ACCA (the Association of Chartered Certified […]

BAHRAIN. Fitch Ratings has downgraded Bahrain’s Long-term foreign currency Issuer Default Rating(IDR) to ‘BBB-‘ from ‘BBB’ and Long-term local currency IDR to ‘BBB’ from ‘BBB+’. The Outlooks are Stable. The issue ratings on Bahrain’s senior unsecured foreign and local currency bonds have also been downgraded to ‘BBB-‘ from ‘BBB’ and ‘BBB’ from ‘BBB+’, respectively. The agency has simultaneously affirmed Bahrain’s Country Ceiling at ‘BBB+’ and Short-term foreign […]

ABU DHABI // Want to save the environment? Start by cleaning your plate. That’s the message dozens of youngsters heard yesterday as part of United Nations World Environment Day activities hosted by Tadweer at Yas Mall. The theme set by the UN for this year’s edition of the annual international campaign, which was commemorated around the world on Friday and aimed at raising awareness and action towards […]

A sign in Bethlehem, in the West Bank, calls for a boycott of products from Israeli settlements in the occupied territories. By RICK GLADSTONE June 5, 2015 South Carolina has become the first state to enact legislation aimed at thwarting an international pro-Palestinian economic and disinvestment campaign intended to penalize Israel. Illinois will soon become the second, and advocates say plans are underway for similar laws in 18 more […]

Tariq Aziz, left, in 1992 at the United Nations as deputy prime minister of Iraq, talking with Chinmaya Rajaninath Gharekhan, the Indian delegate, at a meeting of the Security Council. By ALISSA J. RUBIN June 5, 2015 Tariq Aziz, the Iraqi foreign minister and deputy prime minister who for decades was the most public face of Saddam Hussein’s government on the world stage, died on Friday in Nasiriya, Iraq, where […]

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