|By Arabian Post Staff|In a pivotal geopolitical shift, the United States will soon export more oil and liquids than Saudi Arabia. This remarkable turnaround is made possible by the continued rise in oil production from US shale plays and the increased oil export capacity from the Gulf Coast. The US has for decades relied on large-scale imports to satisfy its thirst for oil, but this is about […]
|By Arabian Post Staff| The shareholders of National Central Cooling Company have approved a dividend of 9.5 fils per share for the financial year ending 31 December 2018. Driven by the company’s strong and consistent performance in 2018, this represents a 19% increase on the previous year’s pay out. The dividend was approved by the shareholders at the company’s Annual General Assembly (AGA), chaired by Khaled Abdulla […]
The Middle East e-commerce market forever be changed with the region’s largest-ever acquisitions and new expansions. In particular, 2019 year has seen such big investments that will let the fastest growing eCommerce market of MEA to take a great turn. The business formation in MEA taking up diverse strategies by companies to establish business in unique places to compete strongly with the upcoming. MEA leave a great […]
|By Arabian Post Staff| The current global energy transition is driving an “inevitable geopolitical shift” and creating “unique opportunities not seen in generations,” according to a Winton Group-backed advanced energy investment firm. This analysis by Dr Erich Becker, Founder and Managing Partner of London-based energy investment firm, Exergy Capital, comes as momentum builds across the world on the seismic shift towards cleaner energy sources, and with oil […]
|By Arabian Post Staff| 5G is expected to reach 30 million subscriptions for enhanced mobile broadband in the Middle East and Africa (MEA) by the end of 2024, representing 2% of total mobile subscriptions. This will make 5G the fastest generation of cellular technology to be rolled out on a global scale, according to the new MEA edition of the Ericsson (NASDAQ: ERIC) Mobility Report. Key drivers […]
|By Arabian Post Staff| Aldar Investment Properties announced it has agreed to acquire full ownership of Etihad Plaza and Etihad Airways Centre in an AED 1.2 billion transaction with Etihad Airways. As part of the deal, Etihad will take 100% ownership of Etihad Airways HQ. The three properties were previously held in three 50/50 joint ventures between Aldar Properties and Etihad. The transaction is expected to complete […]
|By Arabian Post Staff| OYO Hotels & Homes signed an MoU with Saudi Arabia’s Public Investment Fund, which reiterates OYO’s commitment to the Kingdom and the business potential it sees in the market. OYO Hotels & Homes also confirmed the launch of its operations in Saudi Arabia. It is also noteworthy that OYO is one of the first Public Investment Fund and SoftBank Vision Fund backed company […]
|By Arabian Post Staff| Dubai Land Department (DLD) announced the launch of the Smart Audit initiative that allows the completion of real estate transactions on the same day. This comes as part of its tireless efforts to develop and formulate modern 10X initiatives that guarantee the smooth provision of services to its customers, ensuring their comfort. During the first week of the evening audit, more than 112 […]
|By Arabian Post Staff| DP World announced the acquisition of the holding company of P&O Ferries and P&O Ferrymasters (together P&O Ferries) for a purchase consideration of about $420 million, implying a 2017 EBITDA valuation multiple of 6.1x. P&O Ferries is a pan-European integrated logistics business consisting of a market leading roll-on roll-off (Ro-Ro) ferries operation and a European transportation and logistics solutions provider, P&O Ferrymasters. P&O […]
|By James M. Dorsey| Continued, albeit slower-paced US and Turkish leaks potentially provide insight into far more than the circumstances of the October killing of Saudi journalist and Washington Post columnist Jamal Khashoggi. They focus attention on crown prince Mohammed bin Salman’s strategic thinking as well as his tightened control of the kingdom’s media. In the latest disclosure, The New York Times, quoting anonymous US intelligence sources, reported […]
|By Arabian Post Staff| The Abu Dhabi National Oil Company (ADNOC) announced, awarding of an onshore block – known as Onshore Block 3 – to US based international oil and gas exploration and production company Occidental Petroleum. Onshore Block 3 covers an area of 5,782 km2 located in the Al Dhafra region. Existing 3D seismic data already covers a large part of the Block which, combined with its proximity to […]
|By Arabian Post Staff| Emirates Integrated Telecommunications Company (EITC), popularly known as du, announced the resignation of its chief financial officer, Amer Kazim, who is leaving to take up a position with a Dubai government-owned organization. Amer Kazim will remain with EITC till the end of the first quarter of 2019 to ensure a smooth handover of responsibilities and to supervise the full year 2018 financial results. Mohamed […]
|By Matein Khalid| Dropbox, founded by MIT students, venture financed by Sequoia Capital, is one of the world’s most valuable software startups. Even the Irish legend Bono of UB40 is an early stage investor. Its March 2018 IPO was a blowout. Dropbox broke syndicate at 21 and closed at up 50% on its first day. The shares peaked at 43 in June, but as Sophocles observed two […]
|By Arabian Post Staff| Gulf Capital, one of the largest tive alternative asset managers in the Middle East, announced that it has successfully exited its investment in Amana Healthcare, the UAE provider of specialised continuum-of-care services including long-term care, medical rehabilitation and specialised home healthcare. Gulf Credit Partners fully realised an early exit from its investment in Amana Healthcare when a controlling stake in the business was […]
|By Arabian Post Staff| Orion Health announced a commercial agreement with Abu Dhabi Health Data Services, a new company established as part of the Public Private Partnership (PPP) between the Department of Health – Abu Dhabi (DoH) and Injazat Data Systems, a subsidiary of the Abu Dhabi government-owned Mubadala Investment Company, to deliver a Health Information Exchange (HIE) platform. The HIE will be known as ‘Malaffi’ and […]
Ole Hansen With turmoil on every side, gold has re-emerged as a preferred safe haven with further upside. Meanwhile, prospects for a further recovery in oil seem limited by signs of slowing global growth. The direction of commodities in the early part of 2019 will continue to be influenced by decisions taken in Washington and by central banks last year. The economic fallout from US president Donald […]
|By Matein Khalid|If Asia is a growth warrant on the global economy, the omens look awful as the IMF just warned the financial glitterati at Davos. Asian equities were the victims of the grim macro investment themes in 2018. Four Federal Reserve interest rate hikes forced Asian central banks to raise borrowing costs to protect embattled local currencies. The Trump White House’s game of chicken on trade […]
|By Arabian Post Staff| Groundbreaking for the UAE’s first tyre manufacturing plant by Chinese tyre company Roadbot was performed at KIZAD, Abu Dhabi’s industrial hub and part of Abu Dhabi Ports. Developed with a total investment of AED 2.2 billion ($614.37 million), the Roadbot factory is being built in KIZAD’s China-UAE Industrial Capacity Cooperation Demonstration Zone in line with international standards and equipped with latest innovative solutions […]
|By Arabian Post Staff|Oversupply concerns in the Dubai real estate market are increasing ahead of demand resulting in further downward pressure on both prices and rentals, JLL said in its review of 2018. The residential market in Dubai remains tenant friendly, allowing existing tenants to renegotiate their rents and providing attractive rentals and sales opportunities for new entrants to the market, it said. Traditionally, the majority of […]
|By Arabian Post Staff| Global trade enabler DP World announced that it has entered into an agreement to acquire 71.3% stake in Puertos y Logistica S.A. from Minera Valparaiso and other shareholders associated with the Matte Group. Pulogsa is listed on the Santiago stock exchange, and the acquisition will be effected via a tender offer to acquire all outstanding shares of the business. Under the tender process DP […]
|By Arabian Post Staff|The UAE Federal Tax Authority plans to further improve VAT compliance rates, promote registration among taxable businesses, and combat tax evasion. FTA director general Khalid Ali Al Bustani announced in a review of the first year of implementation of tax. The DG revealed that the number of businesses that registered in the tax system during the first year of implementation exceeded 296,000 companies and […]
Hosts offering lodgings in the Middle East, travelers and tourists can now connect with each other on a new online platform, Baitoka.com. The Middle East saw $224 billion spent on tourism and travel in 2017. It is expected to reach $234 billion by the end of 2018, and forecast to rise by 4.6% pa to $365 billion by 2028. Coupled with a vacation rental market, also known […]
|By Arabian Post Staff| Dubai Land Department (DLD) recorded an unprecedented growth in the last ten days of 2018, Sultan Butti bin Mejren, Director General of DLD, announced. The-transaction volume during the last ten days of 2018 was worth over AED 19 billion through 2,081 transactions. .Bin Mejren added: “This activity affirms the attractiveness of Dubai’s real estate sector, specifically the demand from buyers and investors who are […]
By James M. Dorsey As far as Gulf leaders are concerned, President Donald J. Trump demonstrated with his announced US troop withdrawals from Syria and Afghanistan that his insistence that the “world is a dangerous place” has never been truer. The troop withdrawals coupled with Mr. Trump’s praising of Saudi Arabia’s alleged willingness to foot the reconstruction bill in Syria, moves that emphasized his lack of geopolitical interest in […]
