Several months ago, when it was still conventional wisdom that Trump wanted to replace Janet Yellen – at least until Trump’s famous WSJ interview in which he flipped on this and various other issues – with a hawk once her turn runs out in 2018, the financial punditry was busy coming up with potential replacement names, a practice which gradually faded away once it emerged that Trump […]
The public should be able to freely access the names of the people behind the ownership of assets and bank accounts in order to boost transparency and stop secret shell companies being used for criminal activity. This is the key contention of a host of submissions to Treasury as part of the federal government’s plans to increase transparency of the beneficial ownership of companies following the Panama Papers revelations. Play […]
Etihad Aviation Group on Monday announced the appointment of Robin Kamark as CEO, Airline Equity Partners. Kamark will be responsible for leading and developing the Group’s minority equity investment strategy, which includes stakes in airberlin, Alitalia, Jet Airways, Air Serbia, Air Seychelles, Etihad Regional and Virgin Australia, a statement said. He takes over from Bruno Matheu, who has held the role since May 2016, and is leaving […]
Located on Reem Island, Vida Beach Reem Island Abu Dhabi and Vida Residences Beach Reem Island Abu Dhabi will add to the portfolio of Emaar Hospitality Group’s upscale lifestyle hotel brand Scheduled to open in 2020, the iconic hotel and extended stay serviced residences overlook the Arabian Sea within a marina setting Vida Beach Reem Island Abu Dhabi will feature 262 guestrooms and suites, and […]
By Dan Freed and Ross Kerber | PONTE VEDRA BEACH, Fla. PONTE VEDRA BEACH, Fla. Wells Fargo & Co’s (WFC.N) annual meeting turned raucous when it was repeatedly interrupted by angry shareholders on Tuesday as the bank’s chairman and chief executive tried to calm nerves ahead of a vote that could oust the majority of its board. At least one shareholder was removed and the meeting went […]
Dubai’s tourism sector sustained the momentum of its strong 2017 start, with the emirate reporting an 11 percent increase in overnight visitation in the first three months of the year. Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) said in a statement that the city saw 4.57 million travellers in Q1, more than double the growth achieved in the first quarter of 2016. Among Dubai’s top […]
By Linda Sieg and Tetsushi Kajimoto | TOKYO TOKYO The secretary-general of Japan’s ruling party said on Tuesday he will attend China’s New Silk Road summit in May, a sign Prime Minister Shinzo Abe wants to improve ties with Beijing amid tensions over North Korea’s missile and nuclear programmes. But an adviser to Abe said Tokyo remained cautious about the China-backed Asian Infrastructure Investment Bank (AIIB), created […]
25 April 2017 Dubai, UAE – Emirates Integrated Telecommunications Company PJSC (“du”) today published its financial results for the first quarter of 2017 showing a 2.5% rise in revenue to AED 3.17 billion. Net Profit before royalty decreased by 16.7% to AED 851.2 million, compared with Q1 2016 Advertisement (AED Millions) First Quarter Analysis Q1 2016 Q1 2017 % change Revenue (AEDm) 3,089.6 3,166.4 2.5% […]
Dubai Aerospace Enterprise (DAE) Ltd has announced the signing of a definitive agreement to acquire 100 percent of the AWAS group of companies, a global leader in aircraft leasing. The deal has been struck with funds managed by Terra Firma Capital Partners and the Canadian Pension Plan Investment Board. Terms of the transaction were not disclosed. AWAS is one of the world’s leading aircraft leasing companies, with […]
The Lafarge scandal, as it became known in the French media, stoked ire among critics who accused the company of seeking to improve profitability despite growing danger for its employees. The situation underscores the difficulty of doing business in war-torn regions. The company has argued that its local managers saw little recourse other than paying off armed groups to guarantee the safety of staff members and keep […]
Saudi Arabia is about to cast off its oil-dependence, build brand-new industries and open its economy to foreign investment, according to the government. That might make it a good time to buy into a Saudi bank. And substantial stakes in two of them are up for sale. But in both cases, it’s international lenders who are seeking to get out – and there are no big-name global […]
Newsrooms around the world are experimenting with virtual reality more and more, but mass adoption of the medium has been slowed by the lack of quality content and an industry-wide inability to make money from it. That’s the gist of a new report, released this evening by the Reuters Institute for the Study of Journalism, that tracks adoption of and experimentation with virtual reality at major legacy […]
By Sam Nussey and Ritsuko Shimizu | TOKYO TOKYO Japan’s growing labor shortage threatens the nation’s ubiquitous convenience stores, whose business model relies on an army of part-timers packing bento lunch boxes, manning cash registers and delivering goods 24/7. The big three “combini” operators 7-Eleven, FamilyMart and Lawson, which have expanded through Japan’s long slump, are scrambling to ease the pressure on franchisees by offering a mix […]
By Toby Sterling | AMSTERDAM AMSTERDAM U.S. paint maker PPG Industries (PPG.N) raised its proposed offer for Akzo Nobel (AKZO.AS) by about 8 percent to 26.9 billion euros ($28.8 billion) on Monday, increasing the pressure on its Dutch rival to enter into talks. PPG said its proposal was a “final” invitation to Akzo to enter negotiations and included a break fee in case the deal was rejected […]
Enviroserve UAE has signed an agreement with Dubai Wholesale City for the construction of a 228,000 sq ft electronics and specialised waste recycling plant at Dubai Industrial Park. Backed by the Swiss Government Export Finance Agency, the AED120 million project represents one of the largest foreign direct investments in the field of environmental management in the UAE, a statement said. It added that the facility will serve […]
UK and US share a similar mindset when it comes to horizontal drilling for shale energy, say Cardiff University researchers and colleagues While an entire ocean separates the UK from the US, when the issue of fracking arises, the great divide—philosophically speaking—narrows considerably. Concerns about short-term and long-term impacts of horizontal drilling for shale energy are prevalent in both countries. According to a new study by […]
InterContinental Hotels Group announces new signings as well as openings across its MEA brand portfolio at the UAE’s Arabian Travel Market and Arabian Hotel Investment Conference 24 April 2017 Dubai, United Arab Emirates – InterContinental Hotels Group® (IHG), one of the world’s leading global hotel companies, announced four new hotel signings as well as six new hotel openings across the GCC in 2017 at the Arabian Travel […]
Damac Properties on Sunday launched Golfotel, the only premium 5-tower hotel property surrounded by a golf course in Dubai. The announcement was made as part of Damac’s participation at the Arabian Travel Market 2017, taking place in Dubai from Monday. Golfotel will feature over 2,000 rooms with golf views of the Trump World Golf Club Dubai, which is set within the 55-million square foot community Akoya Oxygen. […]
Risk is definitely on this morning as European shares soar, led by French stocks and a new record high in Germany’s Dax, after a “French relief rally” in which the first round of the country’s presidential elections prompted investors to bet that establishment candidate Emmanuel Macron will win a runoff vote next month, and who is seen as a 61% to 39% favorite to defeat Le Pen […]
By Bate Felix and Sudip Kar-Gupta | PARIS PARIS Round two of the bitter fight for the French presidency got under way on Monday within hours of first round results with far-right leader Marine Le Pen’s top aide launching a stinging attack on her centrist opponent Emmanuel Macron. “Emmanuel is not a patriot. He sold off national companies. He criticised French culture,” Florian Philippot, deputy leader of […]
PARIS Emmanuel Macron’s camp should perhaps keep the champagne on ice a little longer. The young independent centrist’s qualification on Sunday for the runoff of France’s presidential election in two weeks’ time will certainly bring a sigh of relief in European capitals and financial markets; opinion polls suggest he will beat his far-right rival Marine Le Pen with ease. But to have a real chance of implementing […]
A Chinese investment firm has signed an agreement with Al Marjan Island (AMI) Company to acquire a plot of land on Ras Al Khaimah’s man-made island. Novel International Group has bought the 720.000 sq ft plot, with plans to develop a tourism and retail project, a statement said. The project involves a mixed-use development hotel, hotel apartments and shops, it added. Alan Feng, director, Novel, said: “The […]
SHANGHAI/BEIJING Global security companies and their smaller Chinese rivals are jostling for business along Beijing’s modern-day “Silk Road”, the grandiose plan for land and sea routes connecting the world’s second largest economy with the rest of Asia and beyond. Representing investments of hundreds of billions of dollars, the pet project of Chinese President Xi Jinping is seen boosting economic growth at home, and as positive for everything […]
· Marassi Al Bahrain has been chosen as the first location for The Address Hotels & Resorts hospitality brand outside of the UAE · Linked to Marassi Galleria – the shopping, leisure and entertainment destination 23 April 2017 Manama – Eagle Hills Bahrain, developers of the urban waterfront project Marassi Al Bahrain, held a reception for invited VIP guests of its new-to-market hospitality brand, The […]
