07 December 2016 Aluminium Bahrain B.S.C. (Alba), the Bahrain-based international aluminium smelter, has been performing reasonably well in light of the market conditions, according to a statement issued by the Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa. The statement was made following the fourth quarterly meeting for the year 2016, which was held on Wednesday December 07, 2016 at Alba. […]
UAE-based Al Dahra Holding and Abu Dhabi Ports have launched a new AED140 million ($38.1 million) rice factory at Khalifa Industrial Zone (KIZAD). Owned by Al Dahra Kohinoor, a subsidiary of Al Dahra Holding, the factory spans a total area of 100,106 sq m and will produce up to 120,000 metric tonnes of rice per annum with 40 silos, each boasting a 750-tonne capacity. It also features […]
This is part of a series on the global rise of exchange traded funds Have we reached Peak ETF? And are we therefore at last in a “stockpicker’s market” where active fund managers skilled in bottom-up stock selection can feast on the mispricings and anomalies that the herd of exchange traded funds have left in their wake? It is beguiling to think that this could have happened. […]
Investment in Manufacturing Innovative Medicines Supports the Kingdom’s “Vision 2030” Aspirations 06 December 2016 Merck Sharp & Dohme (MSD), known as Merck & Co, Inc. in the US and Canada, has today highlighted the initiation of the manufacturing investment agreement with Pharma Pharmaceutical Industries (PPI). This deal enables PPI to exclusively manufacture many of the MSD medicines approved by the Saudi Food & Drug Authority and distributed […]
Dubai Municipality on Tuesday issued a statement to deny a social media video clip claiming liquid nitrogen ice cream is posing a danger to consumers in the emirate. In response to the online video, the Food Safety Department of Dubai Municipality clarified that this rumour is not true. It said liquid nitrogen is used in many industrial applications such as rapid cooling of ice and in making […]
Wall Street climbed on Tuesday as telecom stalwarts AT&T and Verizon gained and bank shares added to their torrid post-election rally, helping the Dow set another record closing high. The S&P financial sector .SPSY rose nearly 1 percent, lifted by a 2.2 percent gain for Wells Fargo (WFC.N). The bank’s chief executive told an investor conference it will see a near-term profit hit because of the sharp […]
The petrochemical sector helped carry Saudi Arabia’s stock market to a fresh one-year closing high on Tuesday after crude oil prices hit a 17-month peak. The main Saudi index added 0.7 percent to 7,155 points in extremely heavy turnover with gainers outnumbering losers 139 to 18. The index is now up 3.5 percent year-to-date. The petrochemical sector stayed strong; it has been contributing to the market’s positive […]
The UAE Armed Forces is now using two of the most advanced military vehicles, which have been both designed and manufactured in the Emirates. NIMR Automotive, a subsidiary of Emirates Defence Industries Company and which has a manufacturing facility in Abu Dhabi, has introduced the N35 and the Ajban-class Special Operations Vehicle (SOV). Both were on display at the UAE’s National Day parade. The N35 is a […]
ABU DHABI // As ties between Turkey and the UAE grow increasingly warm, Ankara’s new ambassador — formerly the most senior Middle East official in the Turkish foreign ministry — says his appointment shows his country is serious about improving bilateral ties. “That is my mission here,” Ambassador Can Dizdar, who began his tenure in October, told The National. “I want to increase the pace, and achieve […]
HONG KONG Asian stocks opened higher on the back of a strong Wall Street with markets discounting the potential impact of Italy’s referendum vote, while U.S. Treasury yields firmed as robust economic data pointed to an interest rate hike next week. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.4 percent in early trade with Antiopodean markets leading gains. Korea .KS11 climbed 1 percent in […]
Wall Street rose on Monday, with the Dow Jones industrials setting fresh record highs, as services sector data gave further evidence of strength in the domestic economy. U.S. services sector activity hit a one-year high in November, with a surge in production boosting hiring, following on the heels of Friday’s employment report that showed strong job gains last month. U.S. stocks have climbed since the Nov. 8 […]
Bahrain, 5 December 2016 DHL Express, the world’s leading express and logistics provider, has renewed its long-standing partnership with the Muharraq Club, one of Bahrain’s most reputed sports clubs and one of the oldest and most recognised in the GCC region. The two entities signed an agreement during a small ceremony held at the DHL Regional Office Muharraq, under which DHL extended its sponsorship support for the […]
By Dominic Evans and Ahmed Rasheed | BAGHDAD BAGHDAD Western-backed Iraqi forces have begun shelling parts of west Mosul, residents said, in preparation for a new front against Islamic State seven weeks into a difficult campaign to drive the militants from the city. Federal police forces, stationed a few miles (km) south of Mosul, on the west bank of the Tigris river that divides the city, have […]
Monday 14.40 GMT Overview Italy’s stock market and much of the country’s banking sector is back under pressure, as investors refine their response to the No vote in the country’s referendum on constitutional reform that led to the resignation of Prime Minister Matteo Renzi. The yield on the country’s benchmark sovereign debt yield remains higher as investors continue to sell Italian government bonds. Italy’s 10-year government debt […]
In the United States, too, I found resistance to the idea that Brexit was a harbinger of a Trump victory. I was assured over and over by liberal friends that Trump would never be president. American voters were too sensible to fall for his hateful demagogy. Trump, I was told, was a product of peculiarly American strains of populism that flare up periodically, like the anti-immigrant nativism […]
December 05, 2016 Aluminium Bahrain B.S.C. (Alba), the Bahrain-based leading international aluminium smelter, announced the appointment of Waleed Tamimi today on Sunday December 4, 2016 as the new Director of Administration. A Lean Six Sigma Master Black Belt, Waleed comes from a business management background with a stronghold on operational excellence. He joined Alba in 2011 as a Master Black Belt Specialist in the Operational Excellence Department. […]
BEIRUT As Syrian government forces advanced into Aleppo’s rebel-held al-Sakhour district, Hasan al-Ali said he faced the choice of staying put and being caught by the army, or fleeing into a shrinking rebel enclave under relentless bombardment. A father of three children, he opted for the latter, though food, fuel, water and medicine are running critically low in rebel-held areas, such is his fear of the Syrian […]
By Jeffrey Heller | JERUSALEM JERUSALEM Israeli Prime Minister Benjamin Netanyahu said on Sunday he will discuss with Donald Trump the West’s “bad” nuclear deal with Iran after the U.S. president-elect enters the White House. During the U.S. election campaign, Trump, a Republican, called last year’s nuclear pact a “disaster” and “the worst deal ever negotiated”. But the businessman-turned-politician has also said it would be hard to […]
Italians and Austrians headed to the polls in closely watched votes on Sunday that will gauge the strength of Europe’s populist and extreme right political parties. Italy’s constitutional referendum on Sunday will determine the political future of prime minister Matteo Renzi and test anti-establishment parties in the eurozone’s third-largest economy. The plebiscite on Mr Renzi’s flagship overhaul — which would shrink the powers of the Italian senate […]
Beijing’s infamous smog spiked on Sunday despite draconian measures in surrounding cities to reduce persistent pollution during the winter in northern China. The thick layer of haze has become a political liability for the ruling Communist party and has driven China’s participation in the Paris climate accord to limit emissions of carbon and other greenhouse gases. An air monitor index released by the US embassy in Beijing breached 600 […]
Good morning. Here’s our daily summary of all the media news you need to know. Want to get this briefing in your inbox every morning? Subscribe here. The rise of “fake news” inspires the press to uncover its many practitioners worldwide, discern its economics and herald the alleged guilt-ridden soul-searching by its greatest enablers, Facebook and Google. But the media dances around another reality with the dexterity […]
Every year, Brazilian venture capital firm Monashees takes entrepreneurs from its portfolio companies on an overseas discovery tour. This year, instead of Silicon Valley, the firm headed to the Yangtze Valley, in a clear sign of a new front opening for Chinese investment in Latin America. China is seeking to expand lending and investment in Brazil and elsewhere on the continent, as it shifts from its traditional […]
BEIJING The death toll from a northern Chinese coal mine disaster rose to 32 on Sunday, state media reported, the latest accident in a country with a poor record of industrial safety. The blast took place on Saturday in a small mine in the Inner Mongolia region, next to Mongolia, Xinhua news agency said. A total of 181 workers were initially trapped underground and 149 of them […]
In June, speaking at a former steelworks in western Pennsylvania that now processes scrap aluminium, Donald Trump promised a bright future for US steel if he became president. “It will be American steel that will fortify American’s crumbling bridges. It will be American steel that sends our skyscrapers soaring into the sky,” he said. “We are going to put American-produced steel back into the backbone of our […]
