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UAE. A new report by The Boston Consulting Group (BCG), a global management consulting firm and the world’s leading advisor on business strategy, delves into the challenges faced by Exploration & Production (E&P) companies here in the GCC region. The fact is, these are trying times for E&P companies globally. Following more than a decade of strong financial returns, the industry has experienced several difficult years caused […]

DUBAI // Education can arm children to break through the cycle of poverty and war in the developing world, Reem Al Hashemy, Minister of State, said on Monday night. “Children are the most innocent and vulnerable and like in any war zone they are first to suffer,” said Ms Al Hashemy, also chairwoman of Dubai Cares, which on Monday night held a Ramadan talk titled “Empowerment through […]

Many reporters have developed an ad hoc system of using Google-related tools in their work. Now the tech giant wants to consolidate those tools and make them easier for journalists to use. On Monday, the company announced the launch of a new site called News Lab, which intends to connect journalists with programs, data and other resources — all from Google — to help in their reporting. […]

KUWAIT.  Fitch Ratings has affirmed Kuwait’s Long-term foreign and local currency Issuer Default Ratings (IDR) at ‘AA’ with a Stable Outlook. The Country Ceiling has been affirmed at ‘AA+’ and the Short-term foreign currency IDR at ‘F1+’. KEY RATING DRIVERS Kuwait’s ratings reflect its exceptionally strong fiscal and external position, balanced against a heavily oil-dependent economy, a degree of geopolitical risk, and weak scores on measures of […]

DUBAI // The higher committee of the UAE Initiative for Connection with Orphans and Minors has called on people and families to take part in a campaign launched by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai. Sheikh Mohammed appealed for community participation in building an Emirati model for caring for disadvantaged young people. Emiratis and their families can sign up at the Awqaf and […]

The Twitter logo is shown at its corporate headquarters in San Francisco, California April 28, 2015. Reuters/Robert Galbraith/Files SAN FRANCISCO Twitter Inc’s (TWTR.N) next chief executive officer faces a crucial challenge as the company seeks to appease Wall Street after this week’s management shakeup – helping disaffected advertisers connect with users. And many advertisers, analysts and investors say Twitter already has the right person for the job: […]

Some things can’t be summed up in 140 characters. Twitter Inc’s (TWTR.N) announcement that Dick Costolo would exit as CEO on July 1 was long on plaudits but offered few clues on how the company will tackle its biggest problem: user growth. Twitter’ shares were down 0.6 percent in early afternoon trading on Friday, after rising much as 3.9 percent just after the opening, as investors assessed […]

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UAE. Etihad Airways, the national airline of the United Arab Emirates, achieved its strongest financial results to date in 2014, posting a net profit of US$ 73 million on total revenues of US$ 7.6 billion, up 52.1 per cent and 26.7 per cent respectively over the previous year. 2014 PEFORMANCE SUMMARY OF ETIHAD AIRWAYS *The above results represent the standalone airline business within the newly formed Etihad […]

UAE. Landmark real estate regulatory changes including the UAE-wide Federal Mortgage Cap and Dubai’s doubling of Property Registration Fees last year, which was aimed at curbing speculative activity, have together gradually and successfully contained a market that was in danger of overheating with the level of transactional activity now dramatically reduced, according to latest research released by international real estate consultancy Cluttons.   Cluttons Spring 2015 Dubai Residential […]

|Special byTAP Staff|Abu Dhabi-based Aabar Investments is expected to reap rich dividends from its involvement with Mongolia’s coal industry in the wake of a landmark mining deal concluded recently. Aabar Investments has been the largest UAE investor in Mongolia since 2011 through its investment into Gobi Coal & Energy Ltd, which has been credited with the discovery of the massive Oyu Tolgoi project. Its two main projects, […]

The proposal by Dubai Municipality to introduce mandatory affordable housing quotas for all new residential developments in Dubai is long overdue and is expected to bring a wide range of benefits to the emirate, while driving further maturity in the market, according to leading international real estate consultants, Cluttons. With the residential market in Dubai now meandering through the second half of the current property cycle and […]

Just one week after announcing a new search partnership with Yahoo, Mozilla is rolling out a new Firefox interface that will enable one-click searches for an array of specific search engines. In addition to a set of pre-installed search engines, the new interface will also allow users to specify other search engines for one-click queries. Following the recent expiration of a 10-year agreement with Google, Mozilla announced […]

|By TAP Staff| Amanat Holdings announced that its AED 1.375 billion Initial Public Offering (IPO) was nearly 10 times oversubscribed. The integrated healthcare and education company  collected more than AED 13.6 billion in total during its 16-day IPO. The company said shares have been allocated proportionately to subscribers and excess funds are due to be returned to investors on November 11, 2014. Amanat is scheduled to list […]

The defendants, in a courtroom in Cairo on Friday, were convicted of “inciting debauchery.” By THE ASSOCIATED PRESS November 1, 2014 CAIRO — An Egyptian court convicted eight men on Saturday of charges of “inciting debauchery” after their appearance in a video of a same-sex wedding party on a Nile riverboat, sentencing each to three years in prison. The Internet video shows two men exchanging rings and embracing among cheering […]

BEIJING Fri Oct 31, 2014 2:56pm IST Visitors use their smarts phones underneath the logo of Tencent at the Global Mobile Internet Conference in Beijing May 6, 2014. Credit: Reuters/Kim Kyung-Hoon/Files Related Topics Stocks     Photographs from India which caught our eyes this week  Pics  BEIJING (Reuters) – Tencent Holdings Ltd said on Friday it would collaborate with International Business Machines Corp (IBM) on a new […]

NEW DELHI: The government has relaxed the norms for allowing foreign direct investment (FDI) in the construction development sector. It is expected the move will boost affordable housing projects and smart cities across the country.   At a Cabinet meeting chaired by Prime Minister Narendra Modi on Wednesday, the minimum built-up area required to attract FDI was reduced from 50,000 sq m to 20,000 sq m, while […]

Al Gergawi … Islamic economy aims at developmentof societies Cross-border partnerships crucial to Islamic economy growth DUBAI, 10 hours, 0 minutes ago The growth of the Islamic economy has the ability to unlock economic opportunities and improve socio-economic stability through cross border partnerships, the opening ceremony of the 10th World Islamic Economic Forum (WIEF) stated. The opening session was graced by HH Sheikh Mohammed bin Rashid Al […]

By G. Srinivasan The Modi Government is overly obsessed head over heels with economic reforms  so much so that even before the results of the Maharashtra and Haryana Assembly elections were out, it announced the decontrol of diesel price and a higher price for natural gas. These are the boldest reform strokes the stakeholders had been crying for that hold out the desirably salutary and intended impact […]

By G. Srinivasan The upcoming G-20 Heads of State meeting in Brisbane, Australia in mid-November is being convened when urgent policy actions from major economies, advanced and emerging, call for coordinated and focused approach to get the world economy out of the anemic recovery. Latest economic data from global financial institutions such as the World Bank, the IMF, OECD and the WTO do not inspire hope that […]

Several factors could stimulate growth in the sector toas many as two billion by 2020. M2M connections to account for 10pc of mobile market ATLANTA, 1 days ago Cellular machine-to-machine (M2M) communications will account for at least 10 per cent of the global mobile market by 2020, according to a new study by GSMA Intelligence, the research arm of the GSMA. The study, entitled ‘Cellular M2M forecasts […]

|By Winfried Weber| German Mittelstand has become a new role model for managers from all over the world. A pilot study of Mannheim Institute of Applied Management Research found that mostly managers from Asia and emerging countries are attracted by the German Mittelstand model and send delegations to learn more about it. They come directly to Germany as the management education programs taught at business schools or […]

By K Raveendran at CeBIT Eurasia, Istanbul Turkey’s Aktif Bank has no branches. In fact, in 2007, when the bank embarked on its journey, it did not even have a signboard. But today, the bank has one of the country’s fastest growing customer bases and every man on the street is its potential customer. Modelled as a ‘shop in shop’, its products and services are sold by […]

KUWAIT. A recent report issued by KFH Research, a subsidery for KFH Group, sees continued positive outlook for the Kuwaiti construction industry, on the back of strong domestic demand in the Kuwaiti economy and a pick-up in government capital spending. Overview and Outlook “While we remain fundamentally cautious about the country’s medium-term investment outlook, we note that higher growth in bank lending over the last few months […]

Etihad Airways PJSC signed a 1.76 billion-euro ($2.4 billion) deal to purchase 49 percent of Alitalia SpA, giving the Gulf company access to one of Europe’s biggest travel markets and providing a lifeline to Italy’s unprofitable former flag-carrier. Etihad will invest 560 million euros in Alitalia, while existing core investors have approved a 300 million-euro capital increase and Italian financial institutions will supply the same amount in […]

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