Tesla, the upstart electric carmaker, surpassed US motor pioneer Ford in market value on Monday, as investors look to a future beyond the internal combustion engine. Shares of Tesla, founded in 2003, rose 7.3 per cent to a market capitalisation of $48.7bn, gliding past the 100-year-old Ford, whose shares fell 1.7 per cent after disappointing March sales results to a market value of $45.3bn. While it is symbolic for […]
That big hug was just what Mr. Sisi’s government sought, said Eric Trager, a scholar on Egypt at the Washington Institute for Near East Policy. “It wants to see the White House legitimate it, and set it on a new course.” Continue reading the main story The scene provided a powerful counterpoint to Mr. Sisi’s many critics, in Egypt and abroad, for whom he is known as […]
Dubai, UAE – April 3, 2017 BlackBerry Limited (NASDAQ: BBRY; TSX: BB) today shared new details on its broad licensing strategy which addresses the growing need for secure, connected devices and endpoints in today’s Enterprise of Things. The first phase of BlackBerry’s strategy, announced in September 2016, was focused on providing the most secure and comprehensive Android software for smartphones around the world manufactured and marketed […]
By Steve Holland | WASHINGTON WASHINGTON U.S. President Donald Trump moved to reset U.S. relations with Egyptian President Abdel Fattah al-Sisi on Monday after the prior Obama administration’s strained ties, giving him firm backing and vowing to work together to fight Islamic militants. “I just want to let everybody know in case there was any doubt that we are very much behind President Sisi. He’s done a […]
A new sexual harassment lawsuit against Rupert Murdoch’s Fox News Channel has increased the pressure on the cable network with allegations that Bill Shine, its co-president, failed to protect a female contributor from retaliation by Roger Ailes after she spurned his unwanted advances. Julie Roginsky, a Fox News contributor and political consultant, alleged in a complaint filed in New York State supreme court that she was denied […]
Investors face a test of nerve as the second quarter beckons. The rally in US stocks and the dollar sparked by the election of Donald Trump is looking stretched, amid doubts about the president’s ability to deliver fiscal stimulus for the economy that can justify lofty equity valuations. The shifting mood has spurred money into emerging markets and European stocks, with EM currencies enjoying a stellar March […]
AED 77 billion of Dubai real estate transactions during the first quarter of 2017 Dubai, UAE, April 3, 2017 The Dubai Land Department revealed the results of real estate transactions during the first quarter of 2017. His Excellency Sultan Butti bin Mejren, Director General of Dubai Land Department announced the value of real estate transactions that reached AED 77 billion through 20 thousand real estate transactions. Dubai […]
Spain’s foreign minister Alfonso Dastis has said his government is “surprised” at the tone of commentary in the UK over Gibraltar, after a weekend in which former Tory leader Michael Howard suggested Britain could go to war to defend the territory. “I think that someone in the UK is losing their temper and there’s no reason for that,” said Mr Dastis, as he sought to play down […]
The merger between First Gulf Bank (FGB) and National Bank of Abu Dhabi (NBAD) formally completed on Sunday, as the board of directors unveiled a new name for the bank. In a statement, the board of directors announced that the merged entity would be named First Abu Dhabi Bank, subject to regulatory approvals and following a General Assembly Meeting to be held “at a later stage” to […]
Australia’s house prices are rising at their fastest pace in seven years, igniting fears of an emerging property bubble and prompting regulators to crack down on risky bank lending. New figures on Monday show residential property prices have increased 12.9 per cent in the past 12 months, with prices in Sydney surging 18.9 per cent — the fastest rate of growth in almost 15 years. “Four of […]
AMMAN: US-backed Syrian forces repelled a major counter-attack by Daesh militants holding out at the country’s largest dam and in the nearby town of Tabqa, the group and activists said on Sunday.The dam is a key strategic target in the military campaign to isolate and capture the Syrian city of Raqqa, 40 km to the east and Daesh’s biggest urban stronghold.The US-backed group said militants attacked its […]
Abu Dhabi, 2 April 2017: Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has been named the Best Islamic Financial Institution in the UAE by Global Finance Magazine, one of the world’s leading finance and banking publications. Now in its 10th edition, the Global Finance Magazine awards are bestowed on banks that provide best in-class Shariah-compliant banking services and solutions, utilize modern and efficient channels to […]
The recently unveiled Galaxy S8 and S8 Plus flagships will not be compatible with Google’s Daydream VR headset. Both phones, sporting gorgeous, near bezel-less displays, is decidedly perfect for virtual reality experiences given the screen’s vibrance and pixel density. A great display is one of the de facto requirements of smooth VR experiences, and it’s a shame that the Galaxy S8’s awe-striking display won’t tandem Google’s own VR […]
Your daily guide to community and cultural activities across the Emirates for April 3, 2017, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. Ellen Fortini rounds up 10 things to do today in the UAE. Want to see your event listed here? Email us with the details and contact information at [email protected] newslide Abu Dhabi Comedy show Beat […]
To Jeremy Grantham, co-founder and chief investment strategist of the Boston asset manager GMO, the earth’s changing temperature is an investment imperative as well as a question of ethics. “The climate is moving much faster than people think, and the responses are going to move much faster as well”, he says, arguing that measures to help polluters announced last week by the administration of Donald Trump may […]
The number of data breaches in the Middle East has risen 16.67 percent since 2015 as hackers become increasingly sophisticated, according to research. New data from global cybersecurity firm Gemalto found that approximately 45.2 million data records in the Middle East were compromised in 2016, compared to 38.5 million in the previous year. Globally, 1.4 billion data records were compromised in 2016 as hackers targeted large-scale databases […]
DUBAI // Retailers are bracing for a rush on big-ticket items including cars, electronics and jewellery before the value-added tax is brought in next year. Shoppers are expected to make major purchases earlier to beat the 5 per cent goods and services tax that will be introduced across the GCC next January. At a car show room on Sheikh Zayed Road in Dubai, Abu Razak, 44, a […]
Some of the region’s leading female filmmaking talent gathered at the film and TV industry trade show Cabsat at Dubai World Trade Centre last week to talk about their careers and the challenges they face. They were assembled by Japanese camera manufacturer Canon to help promote the local launch of its new C700 cinecamera. Encouragingly, none of those we spoke to felt they had been passed over […]
China’s Huishan Dairy raised millions of dollars by selling shadow bank products labelled as “low risk” to the public last year, only months before missed loan payments sent creditors scrambling to protect themselves, according to exchange listings in north-east China. Huishan’s share price plunged 85 per cent in Hong Kong on March 24 amid reports — which the company denies — that chairman and controlling shareholder Yang Kai embezzled Rmb3bn […]
The number of lease renewals at reduced rents is three times higher in Dubai than it was at the bottom of the last market trough in 2012, according to the managing director of CBRE Middle East. Preliminary findings from CBRE research expected to be published in May indicates that landlords are increasingly flexible on lease renewal terms as they seek to retain existing tenants rather than risk […]
Huaqiangbei electronics market in downtown Shenzhen is a gadget geek’s paradise, selling everything from individual semiconductor chips to roll-up drum kits to hoverboards. For some, it is also the culprit for the declining fortunes of US wearable tech companies such as GoPro and Fitbit. “[Their] problem essentially is Shenzhen,” says Richard Windsor, founder of independent research company Radio Free Mobile. “It makes much cheaper cameras that are […]
Here are the main questions facing markets as a new trading week and the start of the second quarter beckons. What are the likely drivers?A host of market-moving events confront investors as the calendar flips over to April. These include France’s presidential elections and the opening salvos of the UK’s divorce from the EU. But there is also the prospect of a sustained recovery in global activity, […]
Dubai’s residential market contracted during the first quarter of 2017, with rental rates falling by an average of 1 percent quarter-on-quarter over the period, a new report reveals. CBRE’s latest Dubai Market View said the dip was driven by an increase in available housing options amid more constrained demand. Meanwhile, landlords are becoming increasingly flexible with rental rates and tenants are able to negotiate, CBRE added. Residential […]
Dubai, UAE, 2 April 2017 The inaugural edition of AIM Startup, organised in conjunction with AIM 2017, commenced today on Sunday, April 2nd in Dubai World Trade Centre. The new initiative witnessed a prolific gathering of visitors, investors and officials. AIM Startup 2017 aims to extend support to the small projects, which in turn can be the core for larger projects in the future, representing a significant […]
