Bisco Misr… bidding battle Kellogg outbids Abraaj third time for Bisco CAIRO, 2 days ago Breakfast cereal maker Kellogg Co has again raised its bid for Egyptian snack maker Bisco Misr, outbidding private equity group Abraaj for the third time and snatching the lead in a $140 million takeover battle. Kellogg said on Thursday it would improve its offer to EGP86.36 ($12.04) per share, hoping to secure […]
DUBAI, 2 days ago Developing countries in Asia—particularly China and India—are rapidly becoming the biggest trading partners with Gulf Co-operation Council (GCC) countries ahead of other regions, according to a new report released by the Economist Intelligence Unit (EIU) in conjunction with Falcon and Associates. The study, entitled ‘GCC Trade and Investment Flows,’ explored the GCC’s economic ties with each world region and identifies major growth drivers. […]
Women in the Mena region mostly seek employmentin order to be more financially independent. Majority of Mena women see gender equality in jobs DUBAI, 2 days ago While 51 per cent of women in the Mena region consider recruitment and selection opportunities are regardless of gender, 31 per cent believe that women are treated less favourably in terms of salary, a report said. Women in the Mena […]
Gulf governments seek to improve the livesof citizens and create jobs. Oil slump won’t derail $500bn Gulf infrastructure plan DUBAI, 2 days ago Slumping oil prices will not halt a massive ramp-up in Gulf infrastructure spending, as rich nations deploy huge reserves to maintain a breakneck development pace and the rest turn to buoyant funding markets. However, states are being urged to consider the most effective funding […]
OPEC will stand by its decision not to cut crude output even if oil prices fall as low as $40 a barrel and will wait at least three months before considering an emergency meeting, the United Arab Emirates’ energy minister said. OPEC won’t immediately change its Nov. 27 decision to keep the group’s collective output target unchanged at 30 million barrels a day, Suhail Al-Mazrouei said. Venezuela […]
|By TAP Staff| A shortage of prime office space in Dubai, which is being underpinned by robust demand, has translated into strong upward pressure on rents across the city, and a rapidly diminishing supply of Grade A space in more centrally located submarkets and freezones, according to the latest research from international real estate consultancy Cluttons. Cluttons’ Dubai Winter 2014 Commercial Market Outlook report shows that during […]
Thriving UAE means plenty of opportunity for job seekers UAE firms plan big time hiring as economy looks up DUBAI, 7 days ago Seventy-four per cent of UAE companies claim they will either ‘definitely’ or ‘probably’ be hiring in a year’s time, suggesting long-term growth and a positive outlook for the country’s economy, a report said. Meanwhile, 66 per cent of UAE firms have hired new employees […]
The latest entrant into Islamic finance is leading the industry in the new direction of socially responsible investment – which could even include the fight against Ebola. Last week an immunisation programme secured a $500 million issuance of Islamic bonds, or sukuk, in the largest debut issue ever by a global non-profit organisation, under a broader trend to use bond markets to fund development and humanitarian projects. […]
|By TAP Staff| The second edition of Royal India Luxury Show got under way in Dubai. The show provides glimpses of India’s royalty to visitors with the scions of some of the erstwhile princely states gracing the inaugural ceremony in royal attire. The event has participation from 22 Indian exhibitors representing travel, hospitality, leisure, luxury homes, fashion, weddings, jewellery and entertainment. The UAE offers immense growth opportunities […]
Middle East fund managers expect to put money back into Gulf stock markets in coming months once the shock of the plunge in oil prices fades, the latest Reuters survey of regional asset managers shows. The slide of Brent crude to $70 a barrel last week,from around $115 in June, has shifted the outlook for the oil-exporting Gulf economies. This has caused Gulf equities to underperform after […]
Herman von Rumpuy Photo: REX Tomorrow, Herman Van Rompuy (which, lest we forget, rhymes with ‘Pumpy’) steps down as President of the European Council. He may look like Sven-Göran Eriksson’s less exciting older brother, but for five years this unelected eminence very grise has dominated European politics. So what do you know about this human riddle wrapped in a mystery inside a bland, Belgian enigma? 1 The man […]
OPEC’s decision to cede no ground to rival producers underscored the price war in the crude market and the challenge to U.S. shale drillers. The 12-nation Organization of Petroleum Exporting Countries kept its output target unchanged even after the steepest slump in oil prices since the global recession, prompting speculation it has abandoned its role as a swing producer. Yesterday’s decision in Vienna propelled futures to the […]
Abu Dhabi’s crown prince paid a brief visit to Qatar on Friday, official media said, to cement reconciliation between the two Gulf Arab states before a regional summit they are to hold in Doha next month. The trip by Sheikh Mohammed bin Zayed al-Nahayan was the first since the United Arab Emirates along with Saudi Arabia and Bahrain withdrew their ambassadors from Qatar in March, accusing Doha […]
FlyDubai’s debut Islamic bonds are signaling growing appetite for sukuk from aviation companies in the Gulf as they spend on airports and fleet expansion. The budget carrier raised $500 million this month in the first sale of the debt by a regional airline after Emirates, the world’s largest operator of A380 superjumbo planes. The issue received bids for more than six times the amount offered. Gulf cities […]
I recently reached out to my Twitter followers, asking “What can I, as a VOA reporter in Washington, write about that you need/want to know?” The responses were varied and interesting, but one topic dominated: U.S. policy in Syria. Why hasn’t the U.S. done more to help the Syrian people? “There is lot of frustration with the Obama’s administration’s ambiguous, vague and often incoherent strategy regarding dealing […]
Saudi Arabia’s shares retreated to the lowest level since March as the nation’s oil minister said no one should cut output to stem falling crude prices. Dubai’s measure declined. The Tadawul All Share Index (SASEIDX) lost 1.7 percent to 9,081.27 at the close in Riyadh, the lowest since March 3 and about 162 points away from entering a bear market. Samba Financial Group led the decline with […]
Jersey Finance, the island’s financial centre which acts as custodian of 1.2 trillion pounds ($1.88 trillion), is in talks with a dozen banks from China, India and the Gulf about obtaining a licence in Jersey, its deputy chief executive said. Situated between France and Britain in the Channel, Jersey is a British Crown dependency outside of the United Kingdom and the European Union. It is jostling with […]
By S Sethuraman A Free Trade Area of the Asia-Pacific (FTAAP), by no means a new concept, was successfully pushed by Chinese President Xi Jinping at the APEC Summit in Beijing on November 11, projecting it as ‘historic’, in a move aimed at countering US-dominant trade moves in the region. The 21-member APEC, of Pacific rim nations, including the United States, China and Japan, now […]
By Barun Das Gupta KOLKATA: If one takes the trouble of rummaging through the archives relating to that part of India which is now called Arunachal Pradesh, one will stumble on a shocking document titled “Regulation 2 of 1880. The Assam Frontier Tracts Regulation, 1880.” It begins with the Preamble: “Whereas it is expedient to provide for the removal of certain frontier tracts in Assam inhabited or […]
NEW DELHI: Eyeing joint-production of military and civilian items with a foreign partner, India and Russia could clinch deals on co-production of mid-range civilian aircraft as well as military helicopters during President Vladimir Putin’s trip to Delhi on December 11-12. During Putin’s maiden visit to Delhi for the annual summit after Modi became the Prime Minister the two sides might agree on joint production of the […]
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By SOMINI SENGUPTA November 10, 2014 UNITED NATIONS — The United Nations secretary general announced on Monday that a five-member panel would investigate the attacks on more than 100 United Nations facilities and the death of 11 of its staff members during the Gaza conflict during the summer, defying Israeli demands to wait until the conclusion of its own government inquiry. The United Nations usually conducts such in-house inquiries […]
A view of the Dome of the Rock, which along with Al Aqsa Mosque is on the site in Jerusalem known as the Noble Sanctuary to Muslims and Temple Mount to Jews. By JODI RUDOREN November 6, 2014 JERUSALEM — One cartoon circulating on social networks on Thursday depicted a car as the barrel of an automatic weapon, captioned in Arabic, “Revolt and resist, even by your car.” Another […]
Five years after collapsing, Dubai’s strengthening real-estate industry is getting a vote of confidence from investors in the emirate’s stock market. In September, Dubai’s flagship developer Emaar Properties spun off its malls business in a $1.6 billion initial public offering that enjoyed strong demand from investors. The IPO of Emaar Malls—whose main asset is Dubai Mall, one of the largest shopping centers in the world—marked the biggest […]
