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A year after a $920 million payment default at a spot commodities bourse cut trading from gold to soybeans futures, jolting India’s biggest brokerages, investors are returning as newer regulations buoy confidence. The volume of commodities traded on the Multi Commodity Exchange Ltd. (MCX), India’s biggest commodity bourse, has rebounded from a five-year low after the regulator tightened warehousing and shareholding norms in response to the payment […]

Local lenders in Saudi Arabia are dominating the market, prompting overseas banks to surrender their licenses as they struggle to compete, the chief executive officer of Standard Chartered (STAN) Plc in the country said. “International banks have found this market more challenging to find their edge and differentiate themselves enough to build a viable business,” Boutros Klink, chief executive officer of Standard Chartered Capital Saudi Arabia, said […]

|By TAP Staff| Oil prices have never been so stable as they are now since the breakup of Bretton Woods system in 1971. Despite major geopolitical tensions in Libya, Syria, Iraq, or the Ukraine, global crude oil prices have been remarkably steady in the past three and a half years. Global oil prices have not been this stable since the break-up of the Bretton Woods system in […]

Two weeks, three continents, and 100 meetings. That — and founder Jack Ma celebrating his 50th birthday on the road — is what it will take for Alibaba Group Holding Ltd. to pull off the largest initial public offering in U.S. history. The Chinese e-commerce company is weighing a plan to start marketing the share sale to investors on Sept. 3, with management traveling across Asia, Europe […]

Goldman Sachs and Qatar National Bank (QNB) are arranging a $800 million loan to help  B.R. Shetty acquire a majority stake in foreign exchange operator Travelex, the Abu Dhabi-based entrepreneur said on Tuesday. “The jumbo transaction has been finalised, we are happy with the terms,” Bavaguthu Raghuram Shetty told Reuters, adding that the financing was expected to be completed by September or October. QNB declined to comment, […]

|By TAP Staff|The re-introduced Indian Rupee Options contract is picking up on DGCX. The Indian Rupee Options contract which was re-introduced on July 18 traded 343 contracts, according to the exchange. Indian Rupee Futures grew 22 percent from last month, while Mini Indian Rupee Futures rose 3 percent. Among the other currency pairs, British Pound, Australian Dollars and Yen Futures, grew 45 percent, 47 percent and 7 […]

Hotels and high-end retailers in Dubai are optimistic that they can ride out the Russian tour operator crisis and possibly even benefit from it. Rotana, which operates 15 hotels in the emirate and has a global sales office in Russia, is hopeful that the decline in Russian tourists because of the closure of some leading tour operators in the country would be offset by more tourists from […]

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|By TAP Staff| A Dubai-based company has launched the UAE’s first offline business directory for Smart phones, named Call UAE, which can work without an internet connection or a mobile network. With over 400,000 listings and more than 5,000 search categories, Call UAE is claimed to be the only “patented” offline Search Engine for Business Data in the UAE. can work without an internet connection or a mobile […]

fsNEW DELHI: The central government’s worries on the Insurance Bill aggravated on Tuesday with Congress accusing it of adopting double standards on the issue and dismissing threats from the treasury benches that a joint session may be convened, forcing BJP ministers to knock on the doors of parties like SP and BSP to muster the numbers in the Rajya Sabha. Congress sources maintained the government was reportedly keen on passing the insurance bill in Parliament in this session so that Prime Minister Narendra Modi can showcase it to the US during his visit in September and hence wants to hurry through the process without sending it to a select committee of the Rajya Sabha. BJP leaders, on the other hand, alleged Congress was playing politics on

FireEye, Inc. (NASDAQ:FEYE) Q2 2014 Earnings Conference Call August 5, 2014 17:00 ET Executives Kate Patterson – Vice President, Investor Relations Dave DeWalt – Chairman and Chief Executive Officer Michael Sheridan – Senior Vice President and Chief Financial Officer Analysts Rick Sherlund – Nomura Rob Owens – Pacific Crest Securities Matthew Niknam – Goldman Sachs Daniel Ives – FBR Capital Markets Walter Pritchard – Citi Gary Powell […]

|By TAP Staff| The world’s most expensive recreational vehicle (RV) was recently sold in Dubai. The 40-foot-long EleMMent Palazzo from Austrian company Marchi Mobile changed hands for around $3 million, luxury and performance automotive website Motor Authority reported. The EleMMent Palazzo looks like an alien spacecraft, or perhaps two different vehicles fused together by some mishap involving tampering with the spacetime continuum. At least it’s covered in […]

By STEVEN ERLANGER and JODI RUDOREN August 3, 2014 JERUSALEM — The Israeli military continued its substantial military attacks around Rafah in southern Gaza on Sunday while defending its decision to announce the death of a missing Israeli soldier at 2 a.m., only hours after Prime Minister Benjamin Netanyahu went on national television to say that he had no new information about the case. Army spokesmen said on Sunday that the […]

Medics at a field hospital in Rafah, Gaza Strip. More than 120 Palestinians were killed in Rafah alone on Friday and Saturday. By BEN HUBBARD and FARES AKRAM August 2, 2014 RAFAH, Gaza Strip — It was clear from the bodies laid out in the parking lot of the maternity hospital here that it had assumed new duties: No longer a place that welcomed new life, it was now a makeshift […]

Israeli soldiers watching Prime Minister Benjamin Netanyahu speak on television at a coffee shop near the border with Gaza. By STEVEN ERLANGER and JODI RUDOREN August 2, 2014 JERUSALEM — The Israeli military said early Sunday morning that an officer thought to have been captured by Palestinian militants during a deadly clash Friday morning, which shattered a planned 72-hour cease-fire, was now considered to have been killed in battle. The announcement […]

By JODI RUDOREN and ISABEL KERSHNER August 1, 2014 JERUSALEM — Palestinian militants sprang from the ground and confronted Israeli soldiers Friday morning, as they have repeatedly in recent days. This time, Israeli officials said, one exploded a suicide belt while another unleashed machine-gun fire. This time, two Israeli soldiers were killed and the militants apparently escaped with a third. The attack, at the start of what was supposed to be […]

egNEW DELHI: A visiting US team has told Indian negotiators it would link pacts on the power sector to the agreement the two countries draw on climate change and one would not happen without the other.

 

This message was conveyed by the US team to India in a meeting held with the power ministry on Wednesday. Power Minister Piyush Goyal and other ministry officials attended the meeting.

 

The US team, headed by Todd Stern, the US special envoy on climate change, also called on Environment, Forests and Climate Change Minister Prakash Javadekar in its bid to stitch an agreement on various climate change issues.

 

Sources said the meeting with the environment ministry focused on areas where the two countries

Gold headed for a third weekly loss in the longest run of declines since September as U.S. employment data may add to signs that the world’s largest economy is gaining traction. Gold for immediate delivery fell as much as 0.3 percent to $1,279.30 an ounce, the lowest level since June 19, and was at $1,283.85 at 2:20 p.m. in Singapore, according to Bloomberg generic pricing. The metal […]

Even the best albums contained the occasional dud – did anyone ever look forward to hearing the obligatory Ringo song on a Beatles album? . Photo: AFP/Getty Images My home is full of vinyl. It’s there in the living-room, the study, the spare bedroom – all my yesterdays, the good, the bad the ugly, filed in batches of 30 in sturdy black plastic boxes (they weigh a ton!), […]

Video | Behind the Escalations in Gaza A look at why Israel and Hamas have repeatedly chosen to intensify the violence at every stage of the continuing conflict. By JODI RUDOREN July 30, 2014 JERUSALEM — After years in which Israel’s prevailing approach to the Gaza Strip was a simple “quiet for quiet” demand, there is growing momentum around a new formula, “reconstruction for demilitarization.” Prime Minister Benjamin Netanyahu […]

Three young rebels, their AK47s propped against wooden stools in the afternoon heat, guard the entrance to the giant Ndassima goldmine carved deep into a forested hilltop in Central African Republic. Sat in a thatched shack at the edge of a muddy shantytown, the gunmen keep the peace – for a price – among hundreds of illegal miners who swarm over the steep sides of the glittering […]

(Reuters) – A Florida family scavenging for sunken treasure on a shipwreck has found the missing piece of a 300-year-old gold filigree necklace sacred to Spanish priests, officials said on Tuesday.   Eric Schmitt, a professional salvager, was scavenging with his parents when he found the crumpled, square-shaped ornament on a leisure trip to hunt for artifacts in the wreckage of a convoy of 11 ships that […]

inNEW DELHI: Under fire for sitting on foreign investment proposals for singlebrand retailing, the department of industrial policy and promotion has set a maximum time frame of 90 days to process all applications pending with it.

 

As many as 13 applications from foreign retailers, including Forever 21, Furla and Swarovski, to open single-brand company-owned stores in the country have been pending with the department of industrial policy and promotion (DIPP) for several months.

 

“We will ensure zero pendency of applications at DIPP and strict compliance to the timeline from now on,” a department official said. DIPP, under the ministry of commerce and industry, is mandated with first-stage vetting

Gold hit its highest in nearly a week on Tuesday as violence flared in the Middle East and Ukraine, but gains were capped by uncertainty ahead of a Federal Reserve policy meeting and important U.S. data later this week. Israel’s military pounded targets in the Gaza Strip on Tuesday after Prime Minister Benjamin Netanyahu said his country should prepare for a long conflict in the Palestinian enclave, […]

inMUMBAI: India’s banking sector may be getting ready for a wave of consolidation as the country tries to build institutions of world-class proportions. Four big state-run banks — State Bank of India, Punjab National Bank, Bank of Baroda and Bank of India — have already begun an exercise to identify takeover targets to gain access to franchises that would augment their capabilities, said three top bankers familiar with the move.

 

The top managements of the four banks are in the process of preparing a blueprint that would explain the rationale for absorbing one or two entities, said the people cited above, none of whom wanted to be named.

 

Employees at these state-run banks are engaged in the exercise after f

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