Dubai-based port operator DP World is reportedly mulling plans to set up a dry port near Cairo in Egypt. DP World is also considering the establishment of other ports around Egypt, according to a report by the Daily News Egypt which quoted the country’s Minister of Industry and Trade, Tarek Kabil. According to the report, a DP World delegation will visit Egypt soon to hold talks about […]
MANAMA, BAHRAIN – 02 January 2017 Ithmaar Bank B.S.C., a Bahrain-based Islamic retail bank, announced today (ed note: 020117) that it has obtained final approval from the Central Bank of Bahrain (CBB), the Kingdom’s banking and financial services regulator on the completion of all requirements with respect to the reorganisation plan. This aims to further develop the growth achieved in Ithmaar Bank’s core retail banking business, the […]
BP has opted out of the first wave of agreements to develop oil and gas reserves in Iran after the lifting of international sanctions — setting it apart from its two biggest European rivals Royal Dutch Shell and Total. Iran has struck a series of deals with foreign energy groups in recent weeks, including Total and Shell, and plans to award more contracts early in 2017 as […]
Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum on Monday launched Dubai Harbour, a new waterfront destination that will feature the MENA region’s largest marina and the Dubai Lighthouse. The mega project will also include a cruise ship port, shopping mall, events arena, residential buildings, hotels, offices and shops. Dubai Harbour will be located on King Salman Street, in the area between JBR and Palm Jumeirah, and […]
Chinese companies invested a record $45.6bn in the US in 2016 despite a US presidential campaign heavy on China bashing, but Donald Trump’s imminent arrival in Washington is among factors making the feat unlikely to be matched this year, according to a new report. The surge in Chinese foreign direct investment into the US documented by Rhodium Group, a research firm, led the annual flow of corporate […]
Submitted by Federico Pieraccini via Strategic-Culture.org, The two previous articles have focused on the various geopolitical theories, their translations into modern concepts, and practical actions that the United States has taken in recent decades to aspire to global dominance. This segment will describe how Iran, China and Russia have over the years adopted a variety of economic and military actions to repel the continual assault on their sovereignty by the […]
Hollywood has been using film tie-ins – such as comics books, animated TV shows, video games and novelisations – for years to help movies reach wider audiences or expand their stories. Bollywood, however, has been slow to get in on the act. One growing Indian film franchise is now hoping to show others how it is done. The producers of the box-office record-breaking 2015 Telugu-Tamil blockbuster film […]
Chinese residents hoping to cash out of the renminbi will face a great wall of paperwork on Tuesday in a key test of confidence for the currency as the annual quota for individuals’ foreign exchange purchases resets. With individuals in China allowed to purchase up to $50,000 worth of foreign exchange each calendar year, observers will be watching closely for any signs of a rush to use […]
IHG receives Qatar Financial Markets Authority (QFMA) approval for IPO: Doha, January 1st, 2017 Investment Holding Group (IHG), one of the leading contracting and trading firms in the Qatari construction sector, today announced that it has received approval from the Qatar Financial Markets Authority (QFMA) to list 60% of the Group’s paid-up share capital through an Initial Public Offering (IP0), making it the first Qatari family business […]
Authored by Mark St.Cyr, With 2016 now in the rearview mirror. The one thing that was supposed to be included in that vision was the successful resurgence of IPO’s across “The Valley”. 2016 was supposed to be “the year” of the comeback for unicorn cash-out dreams after what can only be described as a “not as advertised” 2015. For if one needs remembering: 2015 was the worst year […]
By Hyunjoo Jin and Se Young Lee | SEOUL SEOUL Hyundai Motor Co (005380.KS) and affiliate Kia Motors (000270.KS) said on Monday they aim to increase their combined sales to 8.25 million vehicles globally in 2017, despite rising competition. The 2017 target is slightly higher than their 2016 goal of 8.13 million vehicles. The South Korean automakers’ final sales figures for 2016 are due out later on […]
Telling voters what they wanted to hear worked out well for Donald Trump. As Mexico shifts into election gear in 2017, another populist, anti-establishment figure will be hoping to follow in the US president-elect’s footsteps. Like Mr Trump, Andrés Manuel López Obrador is a love-him or loathe-him figure with a message that resonates with the underprivileged and the angry. In the case of Amlo, as the maverick […]
Automation, AI, and robotics are the real forces behind the disruption to the global job market, and they will accelerate in 2017. Image: iStockphoto/Matriyoshka As we do each week, the editors of ZDNet will continue to put our heads together in 2017 and give you our weekly Monday Morning Opener–an editorial that zooms in on the most important topic in tech for the week. Now that we’re […]
Dubai, UAE, 29 December 2016 Azizi Developments – a leading UAE-based real estate developer with global reach into international markets – met with the Dubai Land Department today, following their recent announcement of 50 new projects for the coming year. The developer discussed Dubai’s economic situation, the current market conditions and predictions for the upcoming year as well as regulatory changes. The Chairman of Dubai Land Department, […]
Dubai Holding, the global investment holding company, has launched a Books for All programme, an initiative that aims to provide greater access to books for residents across the UAE. Launched in collaboration with Amal Education, the programme is aligned with the Reading Nation campaign, which was launched earlier this year. Pop-up library shelves stocked with books have been installed in prominent public spaces across the emirate. Readers […]
BEIJING A joint venture between Hon Hai Precision Industry Co (2354.TW), known as Foxconn, and Sharp Corp (6753.T) plans to build a 61 billion yuan ($8.8 billion) factory in China to produce liquid-crystal displays (LCDs). Sakai Display Products Corp’s plant will be a so-called Gen-10.5 facility specializing in large-screen LCDs and will be operational by 2019, the company said at a signing event with local officials in […]
ISLAMABAD: Justice Saqib Nisar on Saturday took oath as the chief justice of Pakistan (CJP). He is the 25th chief justice of the Supreme Court who will serve on the post until January 17, 2019. President Mamnoon Hussain had accorded approval to appoint him as the CJP on December 7. The president administered the oath at Presidency. Prime Minister Nawaz Sharif also attended the ceremony besides Senate […]
China has tightened checks on citizens exchanging foreign currency in anticipation of renewed downward pressure on the renminbi in the new year. Banks have been asked to improve standards for verifying customers’ identities and to report “large or questionable transactions”, the State Administration of Foreign Exchange (Safe) said in a public statement at the weekend. “There have been leaks in China’s system of personal foreign exchange purchases,” […]
29 December 2016 Jeddah – The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank (IDB) Group, has convened a US$ 45 million Murabaha financing agreement with the Islamic Republic of Mauritania represented by the Ministry of Economic and Finance and the Mauritanian Electricity Company (SOMELEC), as an executing agency. The purpose of the agreement comes within the Financing Plan of Mauritania’s electricity needs […]
Dubai Chamber of Commerce and Industry has announced that it will launch five new initiatives in 2017 to boost start-ups and entrepreneurs. No details about the new schemes were revealed but a senior Chamber official said in comments published by news agency WAM that efforts to foster innovation and develop Dubai’s entrepreneurial ecosystem will remain a major priority. “With the UAE’s focus on instilling a spirit of […]
New penalties for professional advisers who help their clients to evade tax come into force today, as part of a bid by the government to tackle abuses of the excise system. Accountants, bankers, lawyers and other advisers can be fined by up to the value of the tax they helped their client evade, up to a maximum of £3,000. HMRC will also name and shame company involved. […]
Kuwait Finance House (KFH), the country’s biggest Islamic lender, has announced the launch of operations of 10 ATMs for the blind in various areas of Gulf state. The move is part of KFH’s efforts to provide banking services to customers with special needs, the bank said in a statement. The ATMs have been launched at in its branches in Keefan, Rawda, Shaab, Zahraa, Mubarak Al-Kabeer, Dhaher, Fahaheel, […]
Under the five-year contract, Bee’ah will provide integrated waste management services to Dubai Refreshments – the bottling company of Pepsi in Dubai Sharjah, UAE, 29 December 2016 Bee’ah, the leading integrated environment and waste management company in the UAE, has been awarded a five-year contract by Dubai Refreshments (DRC) – the publicly traded distributor of Pepsi in Dubai. As Bee’ah’s first Food & Beverages (F&B) commercial contract, […]
Submitted by Michael Shedlock via MishTalk.com, In the wake of the near collapse of the Dallas police and fire pension fund, a Dallas News editorial says Former Police, Fire Pension Managers Should Face Criminal Investigation. Mayor Mike Rawlings is right to ask for a state criminal investigation into shady practices by the Dallas Police and Fire Pension System’s prior management. The fund is on the verge […]
