LEBANON. Byblos Bank issued today the results of the Byblos Bank Real Estate Demand Index for the first quarter of 2016. The results show that the Byblos Bank Real Estate Demand Index posted a monthly average of 42.5 points in the first quarter of 2016, representing a decrease of 12.5% from 48.5 points in the fourth quarter of 2015. The results constitute the ninth steepest quarter-on-quarter decline […]
SAUDI ARABIA. According to a new report by The Boston Consulting Group (BCG), the digital age has ushered in a number of trends that have transformed the media consumption habits of each Saudi generation profoundly – and vastly differently. In parallel, with information and connectivity available at everyone’s fingertips – anywhere, anytime – the Kingdom’s traditional media landscape has, in recent years, been disrupted. The findings presented […]
INTERNATIONAL. A sense of disappointment permeated through the global markets during trading on Monday following last week’s shocking NFP result of 38k that discounted expectations over the Fed raising US rates in Q2. With the number of jobs created falling to its lowest level since 2007, the Dollar was left vulnerable as concerns elevated over a potential economic slowdown in the States. Although the headline unemployment rate […]
Saudi Arabia’s sovereign wealth fund made its highest-profile deal, investing $3.5 billion in U.S. ride-share company Uber Technologies Inc. as the country seeks to diversify its assets with more overseas acquisitions. Yasir Alrumayyan, managing director of the Public Investment Fund, will take a board seat at the San Francisco-based company after the deal, which values Uber at $62.5 billion, the company said in a statement. It’s the biggest […]
INTERNATIONAL. –(BUSINESS WIRE)–Shifting power relationships in the Middle East are reordering regional geopolitics, entrenching a stalemate of conflict that threatens to further destabilize the region. Wars in Syria and Yemen and against the Islamic State, combined with the balancing of supply and demand in oil markets later this year, will likely return a risk premium to oil prices in 2017, says a new special report by IHS […]
CONCORD, Calif Honda Motor Co gave a sneak preview of its self-driving prototypes on Wednesday, saying it was already on its way to offering semi-autonomous safety functions to the mass market. The Japanese automaker has been less vocal about its plans for self-driving cars than larger rivals like Toyota and General Motors, which in recent months have shown off major research and development projects and big-ticket acquisitions. […]
Michael Dell, chief executive of Dell Inc, delivers his keynote speech at the All Things Oracle OpenWorld Summit in San Francisco, California September 25, 2013. Reuters/Jana Asenbrennerova/File Photo WILMINGTON, Del Michael Dell and Silver Lake Partners underpriced their 2013 $24.9 billion buyout of Dell Inc by about 22 percent and may have to pay tens of millions to investors who opposed the deal for the computer maker, […]
UAE. Brent crude pushed above key psychological level to trade above $50 for the first time since November 2015. The 85% rally since Brent hit a 12-years low in Jan was supported by multiple factors, mainly oil disruption from major exporters and production cut back by U.S. shale. Meanwhile the double than expected drop in U.S. inventories supported bulls to keep holding their long positions. According to […]
Online payment service PayPal is abandoning the apps that it created for Microsoft Windows Phone, BlackBerry and Amazon Fire OS. The company announced the move this week on its blog. The news paves the way for PayPal to steer users toward the latest versions of its app for Apple’s IOS and Google’s Android. Those two platforms have come to dominate the mobile payment space. The last day […]
A pedestrian walks past an Apple iPhone 6 advertisement at an electronics store in Mumbai, India, July 24, 2015. Reuters/Shailesh Andrade/File Photo NEW DELHI India has said Apple Inc must meet a rule obliging foreign retailers to sell at least 30 percent locally-sourced goods if it wishes to open stores in the country, a senior government official told Reuters. Apple is hoping to expand its retail presence […]
The interior of the office of ride-hailing service Uber is seen in this picture in Gurugram, previously known as Gurgaon, on the outskirts of New Delhi, India, April 19, 2016. Reuters/Anindito Mukherjee SAN FRANCISCO Toyota Motor Corp (7203.T) said on Tuesday it would invest in on-demand ride-hailing company Uber, the latest in a wave of high-profile moves by automakers to embrace their potential upstart rivals as partners, […]
DUBAI // Parents are struggling to pay for their children’s education, with employers cutting or doing away with allowances as school fees rise along with the wider cost of living. And there are fears that cutting those allowances will make it harder to attract the best and brightest from overseas to work here, at a cost to the economy. “This year in Abu Dhabi there will be […]
|By Arabian Post Staff| Emirates Islamic announced the successful closure of its US$ 750 million 5-year Sukuk from its US$ 2.5 billion Certificate Issuance Programme. The issue, which will be listed on NASDAQ Dubai and the Irish Stock Exchange, received overwhelming investor interest from across the globe and marked the Bank’s return to the international debt capital markets after a period of four years. In September 2015, […]
By HELENE COOPER May 21, 2016 WASHINGTON — An American drone strike targeted the leader of the Taliban, Mullah Akhtar Muhammad Mansour, in Pakistan near the border with Afghanistan, United States officials said on Saturday, in the most significant American incursion inside Pakistan since Navy SEALs killed Osama bin Laden, the Qaeda leader, in 2011. In a statement issued on Saturday, Peter Cook, the Pentagon press secretary, said the […]
|By Matein Khalid| If ever there was a year to win or lose money big time in emerging markets, 2016 was it. As an investor in the world’s dark alleys (the Third World rebranded as EM!), I am forced to dissect geopolitical, government/monetary policy, foreign exchange, flows, positioning and current account, volatility and credit cycle trends across emerging markets to develop money making strategies. It helps that I […]
Reuters/Jim Urquhart/Files SAN FRANCISCO Republican presidential candidate Donald Trump on Tuesday warned that a dangerous financial bubble has formed in the technology industry – and Silicon Valley responded with a collective eye roll. In a Reuters interview, the New York billionaire said technology start-ups that had never earned a profit were able to sell shares at very high prices, likening the situation to the overheated […]
The Westminster School in Ghusais area, Dubai. The School is hiking fees. Dubai: A Dubai school’s decision to hike its tuition fees by 27 per cent has left parents fuming over what they claim goes against the Knowledge and Human Development Authority’s (KHDA) fee framework, which depends on school ratings. However, KHDA has said that one-time increases exceeding normal yearly increases can be granted when schools apply […]
Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) revealed a more than $1 billion stake in Apple Inc (AAPL.O) in a rare foray into the technology sector, which Buffett has largely shunned apart from a poorly performing investment in IBM (IBM.N). Shares of Apple rose 3.7 percent on the news, closing up $3.36 at $93.88. Berkshire made its investment in the first quarter, before the iPhone maker in April […]
Markets move ‘sideways-to-soft’ ahead of Ramadan amid fears international markets will not be robust Dubai: UAE indices fell on Monday, extending losses for another session as traders repositioned themselves ahead of the Ramadan season. The Dubai Financial Market General Index (DFMGI) closed 0.43 per cent lower at 3,290.37, while the Abu Dhabi Securities Exchange General index closed 0.66 per cent lower at 4,345.31. “UAE markets are moving […]
|By Arabian Post Staff| Saudi Arabia ranks among the top dozen foreign holders of U.S. debt, the Treasury Department disclosed, breaking its silence on the issue for the past four decades. “The stockpile of the world’s biggest oil exporter stood at $116.8 billion as of March, down almost 6 percent from a record in January, according to data the Treasury disclosed Monday in response to a Freedom-of-Information […]
DUBAI // A series of accidents on Sunday morning are causing delays for motorists on their commute. There are a number of accidents on the E611 Emirates Road that are resulting in long tailbacks. There is an accident before the E88 Al Dhaid Road intersection in the direction of Dubai and there are reports of further accidents on the E611 after the Maliha Road intersection, resulting in […]
Reuters/Denis Balibouse/File photo SAN FRANCISCO Warren Buffett struck media gold with a 2012 investment in debt-laden Media General Inc. Now the famed investor may try to reprise that success by supporting a bid for Yahoo Inc’s Internet assets. The Berkshire Hathaway Inc chairman is backing a consortium that includes Quicken Loans Inc founder Dan Gilbert, that is seeking to buy Yahoo’s online portfolio, Reuters reported […]
SAN FRANCISCO Apple Inc’s (AAPL.O) $1 billion investment in Chinese ride sharing company Didi Chuxing intensifies a race to acquire technology, talent and market access in a rapidly evolving global personal transportation market. Apple’s investment comes as auto and technology industry executives and investors are placing bets that self-driving car systems, electric vehicles and ride sharing will eventually converge to allow companies to sell rides in self-driving vehicles, […]
Apple Chief Executive Officer Tim Cook speaks during a event for students to learn to write computer code at the Apple store in the Manhattan borough of New York December 9, 2015. Reuters/Carlo Allegri/Files Apple Inc said on Thursday it has invested $1 billion in Chinese ride-hailing service Didi Chuxing, a move that Apple Chief Executive Tim Cook said would help the company better understand the […]
