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|By Arabian Post Staff| The Saudi Arabian Public Investment Fund has announced the creation of a new national military industries company. Saudi Arabian Military Industries (SAMI) will manufacture products and provide services across four business units: Air Systems, which includes maintenance and repair of fixed-wing aircraft as well as manufacturing and repair of unmanned air vehicles; Land Systems, which includes manufacturing and repair of military vehicles; Weapons & […]

Australian enterprise software provider TechnologyOne has announced its enterprise software-as-a-service (SaaS) solution has been certified to the highest standard by the federal government. According to TechnologyOne, it is the first and only company in the country to receive the certification from the government’s Information Security Registered Assessors Program (IRAP), an initiative from the Australian Signals Directorate (ASD) aimed at providing high-quality IT services to government in support […]

By Mark Hosenball and Lawrence Hurley | WASHINGTON WASHINGTON Former FBI director and prosecutor Robert Mueller, known for his independence in high profile government investigations, is taking on a new challenge in the midst of a crisis that threatens the presidency of the United States. Mueller, 72, was named on Wednesday by the Justice Department to probe alleged Russian efforts to sway November’s presidential election in favor […]

China has agreed to increase its import quota for Cambodian rice to 300,000 tonnes by next year, Prime Minister Hun Sen announced yesterday following his return from Beijing where he attended the Belt and Road initiative summit. In a post to his official facebook page, Hun Sen detailed a conversation he had with Chinese president Xi Jinping, who said China would increase its imports of Cambodian rice […]

Call it the Trump fade? The so-called Trump trade captivated Wall Street after the surprise election of Donald Trump last November. After years of stagnant economic growth in the wake of the financial crisis, the prospect of Mr Trump’s pro-business agenda, combined with Republican control of both executive and legislative branches of the US government, breathed new life into the ageing equity rally, sent the dollar to […]

Jeddah May 17, 2017  The Islamic Corporation for the Development of the Private Sector (“ICD”), the private sector arm of IDB Group, and JSC “KapitalBank” have entered into a Joint Strategic Collaboration to finance SMEs in Uzbekistan. The CEO of ICD, Mr. Khaled Al-Aboodi, and Mr. Sherzod Karimbaev Deputy Chairman of the Management Board of JSC “KapitalBank”, signed the financing agreement for the amount of USD8 million […]

Their trade ministers will talk on the sidelines of an Asia-Pacific Economic Cooperation (APEC) meeting in Hanoi, Vietnam, where newly appointed US Trade Representative Robert Lighthizer is also due to give more detail of Washington’s trade plans. Uncertainty over those plans after Trump abandoned a trade deal he had compared to the “rape” of America has brought fears of protectionism and strengthened China’s […]

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/Foreign Policy/What better way to learn about China’s grand geopolitical ambitions than a bizarre awkward music video? That’s what China’s state-run Xinhua news agency thought when they decided to jazz up a summit in Beijing with what appears to be an attempt at pop music. This week, China hosted a massive international conference to showcase its “One Belt One Road” initiative, Beijing’s $1 trillion infrastructure investment project […]

This week’s 20th anniversary of Amazon’s initial public offering has thrown into sharp relief the stagnation of the US public equity listings market. Finger-pointing by some at the regulatory requirements of going public — which can be burdensome and costly for small companies — is now yielding to a discussion about longer-term headwinds such as the ready availability of private funding for young companies and the culture […]

Ruler of Dubai Sheikh Mohammed has ordered three clubs in the emirate to merge into one new entity. In a decree, Al Shabab, Al Ahli and Dubai Club will be merged into one sports club named Shabab Al Ahli Dubai Club, Dubai Media Office announced. Crown Prince of Dubai, Sheikh Hamdan, has been appointed as chairman of the new club, while Sheikh Maktoum, Deputy Ruler of Dubai, […]

DUBAI // The lowest ranked schools will “wither on the vine” until they raise more money for the good of their pupils, educators say. Ten schools, catering for about 15,500 pupils, have been rated “weak” and altogether 94,000 attend schools that are acceptable or below, Dubai’s education regulator said this week. The bottom 10 can only raise fees by 2.4 per cent, about the level of inflation, […]

US stocks were on track for their worst session for eight months on fears that US President Donald Trump’s ability to push through his pro-growth policies will be sidelined by deepening political controversy. The Wall Street benchmark fell 1.3 per cent to 2,369 on Wednesday, shedding all its gains for May, with financial stocks the worst hit as the S&P banks index retreated 3.8 per cent. Shares […]

May 17, 2017  The Islamic Corporation for the Development of the Private Sector (“ICD”), the private sector arm of IDB Group, and JSC “Hamkorbank” have entered into a Joint Strategic Collaboration to finance SMEs in Uzbekistan. Mr. Khaled Al-Aboodi CEO of ICD and Mr. Ikram Ibragimov, Chairman of the Supervisory Board of JSC “Hamkorbank”, signed the financing agreement for the amount of USD12 million. The collaboration will […]

A selfie-app company learned the value of index membership on Wednesday, when shares in Meitu Inc dropped 9 per cent after MSCI said the Hong Kong listed stock would not, as previously announced, enter its China index in June. MSCI had included Meitu in a list of planned index changes published Monday evening, and the sudden reversal highlights the power of index providers to direct money and […]

By Yashaswini Swamynathan The S&P 500 and the Dow were headed for their worst day in more than eight months as reports of a leaked memo by former FBI chief James Comey spooked investors, raising questions about whether President Donald Trump tried to interfere with a federal investigation. Trump asked Comey to end a probe into former National Security Adviser Michael Flynn’s ties with Russia, according to […]

By James Davey | BIRMINGHAM, England BIRMINGHAM, England Andy Street’s mayoral victory in Britain’s second largest metropolitan area may give the best indication yet of just how far Prime Minister Theresa May’s Conservatives are poaching traditional Labour supporters ahead of the June 8 national vote. Street quit his $1-million-a-year job as managing director of department store chain John Lewis to stand for the top political job in […]

This Jan. 14, 2015 satellite image provided by NASA shows the shattered remains of a colossal iceberg known as B-15 on the Ross Ice Shelf in Antarctica. A Dubai firm’s dream of towing icebergs from the Antarctic to the Arabian Peninsula could face some titanic obstacles. Where many see the crumbling polar ice caps as a distressing illustration of global warming, the company sees it as a […]

Kuwait Airways has appointed Ebrahim Abdullah Al-Khuzam as its new CEO, taking over from Rasha Al-Roumi, who resigned last month. Formerly MD of AREF Investment Group KSCC, advisor to the chairman of Kuwait Finance House and GM of telco Zain, Al-Khuzam was announced one of the newly appointed board members of Kuwait Airways in the wake of Al-Roumi’s resignation, and will now take on the additional role […]

Market research company Kantar has published the latest statistics on mobile market share in Australia, revealing that despite competition, Telstra has yet again increased its mobile market share to a total of 41.4 percent. As of March 31, Telstra’s post-paid market share grew by 2 percentage points for a total of 42.8 percent, although prepaid fell by 2.8 percentage points down to 38.9 percent of the market. […]

The company building out the Australian government’s National Broadband Network (NBN) has revealed purchasing 15,051km of copper cabling to date for the purpose of building out fibre-to-the-node (FttN) connections to some newly built premises, also revealing that a portion of its hybrid fibre-coaxial (HFC) network will be new cabling laid by NBN. In response to Senate Estimates Questions on Notice published this week, NBN has explained that […]

Riyadh, 16 May 2017: Under the patronage and inauguration of H.R.H Prince Faisal Bin Bandar Bin Abdulaziz Al Saud, Governor of Riyadh, Al Jazirah Vehicles Agencies has opened successfully the world’s largest Ford’s dealer showroom in Riyadh branch of Al Jazirah Vehicles, the sole authorized dealer of Ford and Lincoln vehicles in Saudi Arabia, located on Khurais road. The opening was attended by a number of officials, […]

BEIJING China hopes that Sri Lanka can create a good legal, security and public opinion environment for its investment projects in the Indian Ocean country, Premier Li Keqiang told his visiting Sri Lankan counterpart Ranil Wickremesinghe. Chinese investment in Sri Lanka has been controversial. President Maithripala Sirisena is struggling to contain popular opposition to land acquisition for a huge Chinese industrial zone next to Hambantota port in […]

For years we’ve written about the fact that Americans, young to old, are lousy savers (see “Retirement Crisis Looms As Average U.S. Household Has Saved $2,500 For Retirement“). Of course, they have to be because how else can a mature economy continue to grow unless every single person levers every asset they own to the maximum extent possible and then spends all of that money?  Anything less […]

Saudi Aramco plans to sign agreements with at least 10 companies including General Electric Co. and oil field-service businesses Schlumberger Ltd. and  Halliburton Co. when President Donald Trump visits Saudi Arabia, according to two people familiar with the matter. The world’s biggest crude oil exporter plans to sign accords also with  Baker Hughes, KBR Inc., Jacobs Engineering Group Inc., Nabors Industries Ltd., Weatherford International Plc, McDermott International […]

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