First Avenue, the new shopping mall and hotel planned for Dubai’s Motor City, has signed up leading retailer Carrefour as a key anchor tenant ahead of the project’s launch early next year. Carrefour, owned by Majid Al Futtaim, will open the new store in First Avenue while other major retailers are set to be announced for the AED500 million project’s launch during the first quarter of next […]
AMSTERDAM Royal Dutch Shell expects to pump out all the fossil fuel reserves listed on its balance sheet, its chief executive said, dismissing concerns that production limits in the wake of the Paris climate accord could hit the energy giant’s valuation. In an interview with Dutch newspaper Het Financieele Dagblad, Ben van Beurden said the issue of “stranded” reserves – deposits in the ground that cannot be […]
KUALA LUMPUR Malaysian Prime Minister Najib Razak said on Sunday that he will “not necessarily” call a snap election next year, amid talk that he would seek an early vote as splits in the opposition have hobbled efforts to oust him over a long-running financial scandal. The multi-ethnic Southeast Asian country is due to hold an election by August 2018, and a government official has told Reuters […]
Saudi-based developer Cayan Group is set to announce the launch of a hotel apartments tower as part of its $272 million Cayan Cantara project in Dubai. The developer said in a statement that the hotel apartments tower will be managed and operated by a well-renowned hospitality giant, to be named later this month. The launch will represent the company’s first foray into the hospitality sector, it said. […]
Istanbul, 24.11.2016 The Islamic Development Bank Group (IDBG) and Borsa Istanbul have signed a Memorandum of Understanding (MoU) to provide a general framework to facilitate cooperation and collaboration among the parties in fostering Islamic Finance in Turkey and other IDB Member Countries. The MoU was signed under the auspices of the President of Republic of Turkey, H.E. Recep Tayyep ERDOĞAN during the 32nd Ministerial Session of the […]
By David French DUBAI, June 10 (Reuters) – Banque Saudi Fransi (BSF), the kingdom’s fourth-largest listed lender, will complete a 2 billion riyal ($533 million) capital-boosting sukuk issue by the end of this month, banking sources said on Tuesday. Pricing of the trade, which will boost the bank’s Tier 2 – or supplementary – capital, is at 140 basis points over the Saudi interbank offered rate (Saibor) […]
25 November 2016: Gulf International Bank (GIB) last night revealed its new corporate identity coinciding with the bank’s 40th anniversary celebrations. The unveiling of the new identity was shared with officials at a special ceremony in the Kingdom of Saudi Arabia, Riyadh. The new brand identity reflects the core of the bank’s new strategy and its board’s vision for the bank to be the preferred financial services […]
By Stephen Grey and Jack Stubbs | LONDON/MOSCOW LONDON/MOSCOW A little-known Russian businessman from St Petersburg has provided properties to multiple women who share one common theme: President Vladimir Putin. One of the women is Putin’s younger daughter; two are close relatives of a woman Russian media have reported to be Putin’s girlfriend – though the president has strongly denied any relationship. And a fourth is a student […]
By Noel Randewich | SAN FRANCISCO SAN FRANCISCO Wall Street expects consumers to open their wallets a little wider this holiday shopping season but bargains among red-hot retail stocks could be hard to find, especially as profit growth proves elusive for many big names. Retailers, including Best Buy, Kohls Corp and Macy’s, that were pummeled in last year’s disappointing holiday quarter have seen their shares surge recently […]
ISTANBUL, June 10 (Reuters) – Turkey’s Kuveyt Turk, owned by Kuwait Finance House, mandated banks for a sukuk issue, bankers told Reuters on Tuesday. The bank has mandated KFH Investment as global coordinator and Citi, Emirates NBD Capital, HSBC, KFH Investment and Standard Chartered Bank as joint lead managers and joint bookrunners, bankers said. (Reporting by Behiye Selin Taner, Writing by Humeyra Pamuk, Editing Seda Sezer) ((humeyra.pamuk@thomsonreuters.com)(+90 […]
November 26, 2016 by: Madison Marriage in London and Andres Schipani in Bogotá Fidel Castro, the controversial Cuban leader who seized power in 1959 and ruled over the communist state for the following five decades, has died aged 90. Castro came to power as a charismatic guerrilla leader after his army of revolutionaries marched into Havana 49 years ago when he was just 32 years old. His […]
By Alexandria Sage | LOS ANGELES LOS ANGELES Volvo’s North American CEO, Lex Kerssemakers, lost his cool as the automaker’s semi-autonomous prototype sporadically refused to drive itself during a press event at the Los Angeles Auto Show. “It can’t find the lane markings!” Kerssemakers griped to Mayor Eric Garcetti, who was at the wheel. “You need to paint the bloody roads here!” Shoddy infrastructure has become a […]
One of the tallest roller coasters in the region will have its home in Qatar, with the first shipment of a section of the steel structure on its way, the manufacturer has announced. Within the currently under-construction mixed-use complex, Doha Oasis, on Al Khaleej St/B-Ring Road, the 60m-high structure will be the centrepiece of a new underground mall and theme park that will include more than two […]
Professor Stephen Hawking, David Coulthard and Lily Cole supported the event that looked into the changing perceptions towards wealth 26 November 2016 Abu Dhabi – UNLIMITED, a new platform powered by UBS, hosted an exclusive event at New York University Campus in Abu Dhabi today that explored changing attitudes towards wealth. UNLIMITED is a content partnership with the aim of deepening and amplifying public understanding of what […]
He seized power audaciously in 1959 and commanded to the last a powerful personal following inside and outside Cuba. But during more than half a century in office Fidel Castro, who has died at the age of 90, metamorphosed from a popular and charismatic guerrilla leader into a traditional caudillo, an autocratic holdover from another age. At his life’s end, although bolstered by the emergence of a […]
Updated Nov. 26, 2016 2:23 a.m. ET Fidel Castro burst on the world scene in 1959, spawning the very image of a revolutionary with his scruffy beard, rifle and cigar, ruling Cuba for a half-century while rankling 11 U.S. presidents and helping bring the world to the brink of nuclear war. Mr. Castro, who was suffering from undisclosed illnesses, died at 90 years old, his brother, President […]
Updated Nov. 25, 2016 8:52 p.m. ET The most valuable U.S. financial-technology startup is extending its lead. Stripe Inc., whose software is used by businesses to accept and track digital payments, will be valued at $9.2 billion in a new funding round that is being completed, the company said. That valuation, which includes roughly $150 million in new cash being raised, nearly doubles the privately held company’s […]
The dollar broke new ground in its post-US election surge against the yen on Friday as the market eyed a potential ¥3.8tn ($34bn) deluge of yen selling by life insurers. Tokyo’s morning session saw speculators pushing the dollar into the high ¥113 zone — an eight-month peak and a move that is underpinned by more unwinding of long yen positions built ahead of what big Japanese investors […]
* Debut sukuk seen pricing around 175 bps over midswaps * May come in tighter than Majid Al Futtaim * Order books over $2 bln within hours of announcement * Retail sector avoids some of Dubai’s property risk Advertisement * Expected to price on Wednesday By Archana Narayanan DUBAI, June 10 (Reuters) – Emaar Malls Group, a unit of Dubai’s Emaar Properties , may price its debut […]
The National has teamed up with Grow Your Food, an initiative supported by Dubai Municipality, to create this comprehensive, UAE-specific planting guide. Committed to getting the UAE to start planting its own produce, Grow Your Food has been running a series of seed-planting workshops, offering advice on what, when and how to plant basic herbs and vegetables, according to organic principles. The workshops have been led by […]
As Wall Street traders departed for Thanksgiving this week, they could celebrate a rare achievement. On Monday and Tuesday, the four most widely cited indices of US stocks — the S&P 500, the Dow Jones Industrial Average, the Nasdaq Composite and the Russell 2000 — hit all-time highs simultaneously. The last time a “grand slam” happened was on New Year’s Eve 1999, at the height of the […]
Not many people know about the second floor café in Building 3 at Emaar Square. Dubbed “the digital café”, it serves great food, great coffee and of course has pretty decent Wi-Fi. It has a “google” feel to it. But when the history books of the Middle East digital revolution are one day written, chances are the café will get a chapter to itself. For the […]
A declining gold market faces a major challenge as a $3.8bn outflow from exchange traded funds over the past 10 days is seen intensifying the liquidation of holdings by investors. Gold has dropped below $1,200 a troy ounce for the first time since February as ETF outflows have risen to their highest level since July 2015. A stronger dollar, higher US yields and a rallying stock market […]
Submitted by Jeffrey Snider via Alhambra Investment Partners, For the month of July 2014, total durable goods orders exploded higher in a fit of Boeing. The growth in aircraft orders in percentage terms was so large as to be meaningless. On a seasonally-adjusted basis, total durable goods (using the latest benchmarks) went from $236.3 billion that June to $290.8 billion for July. Coming as it did in […]
