UAE. Etihad Airways, the national airline of the United Arab Emirates, achieved its strongest financial results to date in 2014, posting a net profit of US$ 73 million on total revenues of US$ 7.6 billion, up 52.1 per cent and 26.7 per cent respectively over the previous year. 2014 PEFORMANCE SUMMARY OF ETIHAD AIRWAYS *The above results represent the standalone airline business within the newly formed Etihad […]
ABU DHABI // Ramadan is likely to begin on June 18, the Sharjah Planetarium has predicted. The start of the holy month for the Hijri year 1436 is likely to fall on Thursday, June 18, according to astronomical calculations of the planetarium. Ibrahim Al Jarwan, general supervisor at the SP, predicted that Eid Al Fitr would be on Friday, July 17 (the first of Shawwal). “The daylight […]
Intel Corp (INTC.O) has resumed talks to buy programmable-chip maker Altera Corp (ALTR.O) and is close to a $16 billion deal, people familiar with the matter said on Friday, paving way for the third mega semiconductor-chip deal this year. The price for Altera could be as much as $54 per share, according to one of the people. This would be a 15 percent premium over the stock’s […]
The site of an explosion near a Shiite mosque in Dammam, Saudi Arabia, on Friday. By BEN HUBBARD May 29, 2015 BEIRUT, Lebanon — A suicide bomber dressed in women’s clothing detonated his explosive belt near the entrance to a Shiite mosque in eastern Saudi Arabia on Friday, killing three other people, according to Saudi state media. The Islamic State jihadist group claimed responsibility, as it did just a […]
My wedding day was the first best day of my life. I could not have ordered a more perfect day if I had had a menu of choices in front of me. The marriage to my best friend was what I was really looking forward to. I wanted to settle down and start a family and that’s what we did. Our ideal world was lost on Sept. […]
Mena M&A value rises 9pc to $8.9bn in Q1 DUBAI, 23 days ago Announced deal value in Mena increased to $8.9 billion in the first quarter (Q1) of 2015 from $8.2 billion during the same period last year, marking an increase of 9 per cent, a report said. In Q1 2015, 90 deals were announced as compared with 89 deals in Q1 2014, according to the Q1 […]
By SAM BORDEN and JODI RUDOREN May 28, 2015 ZURICH — The protesters outside the arena where FIFA staged the opening ceremony for its annual congress Thursday held Palestinian flags and blunt banners. “Red Card Israel Apartheid,” one read. “Occupation = Segregation,” another said. “EXPEL Israel, Say NO to racism and discrimination.” But as the congress convened, the Palestine Football Association’s proposal to oust its Israeli counterpart from FIFA, soccer’s international […]
Avago Technologies Ltd (AVGO.O) agreed on Thursday to buy Broadcom Corp (BRCM.O) for $37 billion in the largest merger of chipmakers ever, turning a lesser known company run by a ferocious dealmaker into one of the biggest industry players. Avago, which serves the wireless and industrial markets, is offering Broadcom shareholders $17 billion in cash and Avago shares valued at $20 billion. Broadcom is best known for […]
A worker adjusts the logo at the stand of Huawei at the CeBIT trade fair in Hanover March 15, 2015. Reuters/Morris Mac Matzen/Files BANGKOK China’s Huawei Technologies, the world’s No. 2 telecom equipment maker, expects total shipments of smartphones in southeast Asia to rise 160 percent to 8 million units in 2015, boosted by strong demand in Myanmar, it said on Thursday. In the first quarter, Huawei […]
UAE. Fifty-seven percent of global financial services executives believe regulation has enabled growth of their business, according to the results of Deloitte’s Staying Ahead of the Pack survey. In addition, half of executives expect much more regulation in the near future, with 69 percent feeling prepared for it. The survey of 200 executives at banking, securities, insurance and investment management firms around the world was conducted to […]
ABU DHABI // Lunar pioneer Buzz Aldrin, the second man to walk on the Moon, shared his space journey and excitement for the UAE Mars mission during a lecture at Al Bateen palace on Wednesday. The former Nasa astronaut addressed an audience of dignitaries and industry leaders who included Sheikh Nahyan bin Mubarak, Minister for Culture, Youth and Community Development, Sheikh Hamed bin Zayed, Chairman of the […]
Dubai Islamic Bank has priced a $750 million sukuk with a five year lifespan, a document from arranger banks said on Wednesday, with the cost of borrowing reduced by significant investor demand. The wakala-structured deal, in which one party manages assets on behalf of another, was completed at a spread of 125 basis points over midswaps and carried a profit rate of 2.921 percent, the document said. […]
ABU DHABI // The Mohammed bin Rashid Space Centre will send students to American universities this summer as part of the UAE’s Mars Mission Hope. They will undergo an intensive programme in space sciences at the University of California, Berkeley, and the University of Colorado Boulder that will help them along a career path as Emirati scientists and engineers. “We don’t have a proper career path for […]
One of the biggest challenges marketers face these days is keeping track of customer behavior across multiple channels and devices. Oracle is hoping to help with that by adding new mobile capabilities to its Oracle Marketing Cloud. Those new capabilities, rolled out earlier this month, include an enhanced mobile Data Management Platform (DMP) that helps to link multiple identities across platforms and devices to a single customer. […]
As virtual-reality enthusiasts await the first consumer edition of Oculus Rift next year, Facebook, which owns the game and the firm that makes it, is beefing up its talent roster. Oculus Wednesday said it acquired a trio of 3D reconstruction experts from computer vision firm Surreal Vision. The three founders of the UK-based immersive technology company will be moving over to Oculus: Richard Newcombe, the inventor of […]
By JODI RUDOREN May 26, 2015 JERUSALEM — Hinting at a new strategy as he starts his fourth term with a more conservative coalition, Prime Minister Benjamin Netanyahu of Israel told the European Union’s foreign policy chief that he wants to negotiate with the Palestinians over which settlements in the occupied West Bank would be annexed by Israel, officials said Tuesday. Palestinian leaders quickly rejected the idea as a […]
JORDAN. Technology will be a “game changer” in tackling youth unemployment in the Middle East and North Africa’s emerging Digital Economy, but only if the government, private, and people sectors collaborate effectively, according to a new report released on the eve of the World Economic Forum on the Middle East and North Africa (MENA) 2015. The report “Re-Dynamizing the Job Machine: Technology-Driven Transformation of Labor Markets in […]
DUBAI // Outstanding achievements by UAE women in fields as diverse as civil aviation, business strategy, technology and social enterprise were recognised on Monday night. Laila Al Muhairi, assistant director general for strategy and international affairs at the General Civil Aviation Authority, won the first award in the professional category at the Emirates Women Awards. “My objective is to inspire generations of girls in the UAE and […]
By JODI RUDOREN May 25, 2015 JERUSALEM — Prime Minister Benjamin Netanyahu of Israel on Monday named a longtime confidant who is hawkish on Iran and the Palestinian issue to run the foreign ministry, the latest in a series of moves that consolidate Mr. Netanyahu’s conservative grip on his new government. The new ministry director, Dore Gold, is a former Israeli ambassador to the United Nations and a prolific […]
Shareholders arrive for the Daimler annual shareholder meeting in Berlin April 1, 2015. Reuters/Hannibal Hanschke/Files FRANKFURT German carmaker Daimler is to make software from web services company Baidu available in its Chinese Mercedes-Benz cars as part of a trend of deepening ties between carmakers and consumer technology companies. Carmakers are seeking to extend information and entertainment services available in vehicles, as well as smartphone compatibility, in an […]
SYRIA. Islamic State fighters tightened their grip on the historic Syrian city of Palmyra on Thursday and overran Iraqi government defenses east of Ramadi, the provincial capital that they seized five days earlier. The twin successes not only pile pressure on Damascus and Baghdad but throw doubt on a U.S. strategy of relying almost exclusively on air strikes to support the fight against Islamic State. U.S. and […]
SHARJAH // More than Dh11 million worth of humanitarian aid was offered to poor or low-income families in the first quarter of this year, Sharjah Charity Society has announced. Abdullah Sultan bin Khadam, of the SCS board, said that monthly financial assistance totalled Dh3.4 million, adding rent instalments worth Dh1.7 million were paid to more than 200 families. Almost Dh2 million was spent on surgeries for 150 […]
ABU DHABI // A family of children as young as 8 is living in squalor and deprivation, with social services powerless to intervene because they have no legal authority to do so. The 10 children, the eldest of whom is 24 and mentally ill, sleep on the floor in two outdoor rooms reeking of urine and faeces and littered with rubbish. Their kitchen overflows with dirty dishes […]
By MERNA THOMAS and KAREEM FAHIM May 23, 2015 CAIRO — An Egyptian court on Saturday acquitted 17 witnesses who had been facing criminal charges after some of them came forward to testify about the apparent police killing of an unarmed poet and activist in January, lawyers for the defendants said. The group had seen riot police officers violently disperse a peaceful march on Jan. 24, including by firing birdshot. The […]
