|By Arabian Post Staff| Tesla founder Elon Musk described Dubai as a city of opportunity and achievements, and a beacon for tolerance and happiness, while announcing the launch of the company’s regional office. He was received by Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. .Shaikh Mohammad and Musk discussed the company’s activities around the world and its […]
|By Matein Khalid| The US Dollar Index has now fallen 3.5% since it peaked on January 3. Donald Trump and his White House aides broke the 20 year taboo against speaking out against the “strong dollar” policy platitudes. The Federal Reserve did not raise interest rates and signaled no rate hike is imminent at the March FOMC. It is significant that the US dollar has fallen against […]
DUBAI// Schools are likely to face higher operating costs, lower profit margins and a scramble for the best teachers, according to education experts. An extra 175,000 school places are expected to be created in the UAE by 2020, 90 per cent of which will be in the private sector. The findings from the PwC Middle East published Understanding the GCC Education Sector, Country Profile: UAE report, states […]
Nokia has unveiled its 4,5G Pro AirScale base station, as well as fleshing out its 4.9G portfolio. Image: Nokia If you’re expecting the next generation of mobile network technology to be 5G, you might need to think again: Nokia is betting there’s room for one more iteration of LTE before fifth-generation tech goes mainstream. Nokia last year announced its initial 4.9G products, saying it expects the first […]
The cost to upgrade the US electrical grid so it could cope with peak demands may be on the order of $180 billion, said the report in the Proceedings of the National Academy of Sciences As the planet warms due to climate change and hot days become more common, the US electrical grid could be unable to meet peak energy needs by century’s end, researchers warned Monday. […]
By Tetsushi Kajimoto and Stanley White | TOKYO TOKYO Japan’s economy grew for a fourth straight quarter in the final three months of last year as a weaker yen supported exports, but tepid private consumption and the risks of rising U.S. protectionism cast doubts over a sustainable recovery. Data on Monday showed the world’s third-largest economy grew an annualized 1.0 percent in October-December, roughly in line with […]
China’s largest property developer Dalian Wanda Group has set its sights on banks in Europe, including Germany’s Postbank, as it diversifies away from its core real estate business. The Beijing-based group led by China’s richest man is actively looking at several European financial institutions, three people familiar with the matter said. Postbank — which has been put up for sale by Deutsche Bank — was among the […]
Dubai, 12 February 2017 Emirates NBD (DFM: EmiratesNBD), a leading bank group in the region, held its tenth Annual General Meeting (AGM) at the Bank’s Headquarters. At the AGM, a review of the year ended 31st December 2016 was presented. Commenting on the business environment, Emirates NBD Chairman, His Highness Sheikh Ahmed Bin Saeed Al Maktoum, said, “The UAE continues to stand out as a resilient and […]
The New South Wales Telco Authority has announced signing NEC Australia to provide network management systems and wireless backhaul technology for state emergency services and other public safety agencies as part of the government’s Critical Communications Enhancement Program (CCEP). Under the three-year deal, NEC will also provide professional services and 24/7 support via its existing technical service centres. NEC will take part in the CCEP’s pilot program […]
Japan’s economy grew at an annualised pace of 1 per cent in the final quarter of 2016 as yen weakness spurred a pick-up in exports and business investment. The figure, which was broadly in line with analysts’ expectations for a 1.1 per cent rise, confirms Japan’s economy is back on track after a wobble last summer. Robust growth will reinforce the political popularity of Prime Minister Shinzo […]
US President Donald Trump has warned US airlines that foreign rivals “bring big investments” while pledging to support them amid tough competition, in the latest indication of his stance in the ongoing dispute between Gulf and US carriers. The new president told a White House meeting with the country’s largest airlines, air freight companies and airports on Thursday that he would support the US aviation industry in […]
When investors last month thumbed through the voluminous marketing materials from Blue Nile, the US online jeweller being taken private by Bain Capital, a few numbers — and footnotes — stood out. Blue Nile was seeking to raise $180m of debt to fund the $500m private equity takeover. By one measure, Blue Nile’s debtrepresented roughly four times its adjusted earnings before interest, taxes, depreciation and amortisation of […]
As Comcast last year conducted secret talks about a potential acquisition of DreamWorks Animation, five Chinese investors — including an elderly couple in Beijing — acquired an enormous stake in the storytelling studio. Over a three-week period ending on April 25, those five accounts purchased more than 2.1m DreamWorks shares, amounting to nearly 17 per cent of all trading in the stock, according to the Securities and […]
Loss-making Dubai construction firm Arabtec is working with boutique investment bank Moelis to study options for the company’s capital structure, sources familiar with the matter told Reuters on Sunday. A mandate for restructuring advisory firm AlixPartners to reduce overheads at Arabtec was completed at the end of last year, the sources said, declining to be named as the information is not public. The sources said that the […]
If the new proposal is approved next Wednesday, Munich employees’ desktops will be running Windows 10 by the end of 2020. Image: Getty Images/iStockphoto Munich’s city authority is a step closer to moving thousands of council computers from Linux to Windows, in a reversal of one of open-source software’s marquee successes. The authority’s administrative and personnel committee this week made a long-awaited recommendation for the reorganization of […]
“GII” Investing 100 million Pounds to develop a premium residential apartments in London. Dubai: 13th Feb 2017 “Gulf Islamic Investments” LLC (“GII”) and Northacre PLC announced Northacre’s appointment as development manager for a new boutique luxury residential development in the heart of Chelsea. UAE-based GII acquired the site, formerly the Chelsea Police Station. GII recognised the potential for the former Chelsea Police Station site before appointing Northacre […]
PNC Menon is a busy man — it takes several months to lock an interview into his diary. But on the day of our meeting in Dubai, the Indian-born real estate developer exudes characteristic warmth and courtesy, refusing to allow Arabian Business to leave without a bowl of Middle Eastern halva and repeatedly asking whether we have enough milk in our tea. A long-term UAE resident and […]
|By Arabian Post Staff| As much as 69 percent of oil demand growth up to 2022 will be in Emerging Asia, according to a report by Bank of America Merrill Lynch. Other key conclusions of the report include advancement of the oil demand peak from 2050 to 2035 due to fast growth in electrical vehicles, increased carpooling/sharing and autonomous driving; increase in consumption by 1.1mn b/d p.a. […]
12 February 2017 Dubai, United Arab Emirates – Marsh & McLennan Companies Inc. (NYSE: MMC), a global professional services firm offering clients advice and solutions in risk, strategy and people, is a strategic partner of the newly published 2017 Global Risks Report, an annual publication released by the World Economic Forum at Davos. This year’s 2017 Global Risks Report reveals that economic inequality, societal polarisation and intensifying […]
Ford’s autonomous vehicle platform runs this Fusion Hybrid. Image via Ford. Ford has just announced a $1 billion investment in artificial intelligence startup Argo AI to bolster the automaker’s self-driving car technology. The acquisition-sized investment will make Ford the majority shareholder of Argo AI, though Ford plans to spread out the funds over a five-year period. Argo AI was founded (somewhat recently) by Brian Salesky, the former […]
The European government bond market had what is known in technical circles as a minor freak-out this week. Yet as yields in eurozone bonds diverged sharply, the markets for stocks, corporate debt and currencies carried on regardless. The Cac 40 index of large French-listed companies was barely changed on the week. The euro weakened per cent against the US dollar, but at the same time the dollar […]
Investors remained cautious on the so-called Trump trade over the past week, as political wrangling in Washington drove more money into bond funds and bond proxies. Junk bond funds collected $1bn in new money in the week to February 8, while investment grade corporate bond funds gained $2.1bn, the fourth straight week of inflows for highly rated company debt, according to data from EPFR. Utilities-focused equity funds, […]
Record investment deals on the show floor of Cityscape Abu Dhabi in 2016 have resulted in more than 90 percent of show floor space already sold for this year’s event, the organisers have announced. With sales permitted directly from exhibitor stands for the third year running, a host of new property developers have confirmed their participation at the three day event in April. Organisers said that the […]
Nordea, the Nordic bank, has banned its fund managers from investing in the companies constructing the $3.7bn Dakota Access oil pipeline, just weeks after Donald Trump, the US president, decided to push forward with the controversial project. The bank’s fund management division will no longer invest in Energy Transfer Partners(ETP), the main company that oversees the disputed project, amid concerns about the environmental and reputational risks of […]
