Dubai Islamic Bank has priced a $750 million sukuk with a five year lifespan, a document from arranger banks said on Wednesday, with the cost of borrowing reduced by significant investor demand. The wakala-structured deal, in which one party manages assets on behalf of another, was completed at a spread of 125 basis points over midswaps and carried a profit rate of 2.921 percent, the document said. […]
By JODI RUDOREN May 25, 2015 JERUSALEM — Prime Minister Benjamin Netanyahu of Israel on Monday named a longtime confidant who is hawkish on Iran and the Palestinian issue to run the foreign ministry, the latest in a series of moves that consolidate Mr. Netanyahu’s conservative grip on his new government. The new ministry director, Dore Gold, is a former Israeli ambassador to the United Nations and a prolific […]
A box from Amazon.com is pictured on the porch of a house in Golden, Colorado July 23, 2008. Reuters/Rick Wilking/Files NEW YORK Amazon.com Inc has started booking revenue from retail sales in individual European countries, instead of channeling all sales through low-tax Luxembourg, the Wall Street Journal reported Sunday. The change was made effective May 1, a company spokesman told the Journal. Amazon said it had started […]
UAE. The findings of a new study by The Boston Consulting Group (BCG), a global management consulting firm and the world’s leading advisor on business strategy, shows that mobile technologies are creating immense value for consumers – value that greatly exceeds the costs of owning a mobile device. In fact, consumers worldwide value mobile technologies at 11 to 45 percent of their income – well above what […]
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 […]
CRM behemoth Salesforce is rolling out the next iteration of Community Cloud, technology that lets companies combine business data and processes with its customer relationship management (CRM) platform to create personalized, mobile destinations. Specifically, Salesforce is adding Targeted Recommendations, Lightning Community Builder and Templates and Salesforce Files Connect for Google Drive. The goal is to help companies connect with stakeholders in new ways. Community Cloud was already […]
|By TAP Staff| Arch Reinsurance Ltd. (Arch) announced completion of its acquisition of Gulf Reinsurance Ltd. (Gulf Re), a specialty reinsurer based in the Dubai International Financial Centre. Gulf Re was founded jointly by Arch and the Gulf Investment Corporation (GIC) in 2008. In 2014, Arch and the GIC signed an agreement whereby Arch would acquire 100% ownership of Gulf Re. The agreement provides that, among other […]
Industrial and Commercial Bank of China has launched a $500 million five-year debut bond issued by its Dubai branch, which is set to price later on Monday, a document from lead managers said. The bank, China’s largest by assets, set the final spread at 120 basis points over U.S. Treasuries, the document stated, tighter than the initial price guidance of around 145 basis points over treasuries announced […]
Dubai Islamic Bank (DIB) has picked six banks to arrange fixed income investor meetings from Thursday for a potential benchmark size, U.S. dollar-denominated senior sukuk issue, a document from lead arrangers showed. DIB, the largest Islamic bank in the United Arab Emirates, has mandated First Gulf Bank, HSBC, Maybank, National Bank of Abu Dhabi, Standard Chartered Bank and itself to arrange the meetings in Asia and Europe. […]
Photo Leah Pfeiffer, left, a student at the Culinary Institute of America, and Chuck Yu, a West Point cadet, cooking in a C.I.A. kitchen in October 2013.Credit Mike Groll for The New York Times We are hard pressed to think of many world-class liberal arts colleges with entire student bodies ambitiously studying and training toward a single profession – and in uniforms that are far from Vassar’s […]
DP World, one of the world’s biggest port operators, has launched a $500 million, five-year bond that will price later on Tuesday, a document from lead arrangers showed. The transaction was set to price at a spread of 155 bps over midswaps, which is at the tighter end of a final guidance of 160 bps plus/minus 5 bps over midswaps. This is lower than initial pricing guidance […]
|By TAP Staff| The sale of residential properties in Dubai may continue to slide by one to five percent in the first half of this year, according to a report for Deloitte Financial Advisory. But the report forecasts a pickup in the second part of the year. It added that super prime malls will experience further growth in tourist numbers whilst residents will drive demand for convenience […]
This miniature digital camera is built for much more than selfie-stick video posts. It features built in RAW and ProRes recording, 13 stops of dynamic range, a global shutter and an MFT lens mount, making it much more versatile than the average mini DV or POV cam. They also offer an almost unlimited range of accessories for mounting this powerful little guy on almost anything: drones, vehicles, […]
Dubai’s drive to develop its Islamic finance sector is fuelling growth of sharia-compliant banking but the benefits are unevenly distributed, with some lenders struggling to compete against burgeoning competition. In 2013, Dubai’s government announced plans to turn the emirate into a centre for an “Islamic economy” with sharia-compliant businesses ranging from banking to asset management, trade, food preparation and certification, fashion, education and tourism. This looked like […]
In my previous column, I outlined the innovative German system of cooperative study and universities of applied sciences. These institutes in particular support a practical, hands-on approach to learning about engineering. But where do managers of mid-sized business learn the tools of their trade? As we have seen, traditionally, the answer would be through common sense and trial and error. The majority of world-leading mid-sized enterprises were […]
Noor Bank may conduct a benchmark-sized sukuk issue after setting up a $3 billion Islamic bond programme, the Dubai-based lender confirmed to Reuters on Tuesday, with banking sources indicating the sale could happen as early as this month. “Noor Bank has confirmed that they have today established (a) $3 billion sukuk trust certificates issuance programme to be listed on NASDAQ Dubai,” the bank said in a statement […]
Written by former Texas Rangers catcher Benjie “Big Money” Molina, this is the inspiring true story of Puerto Rican factory-worker Benjamin Molina Santana whose three sons—Benjie, Jose, and 6-time all-star Yadier—each beat long odds to earn their own World Series rings. This entry passed through the Full-Text RSS service – if this is your content and you’re reading it on someone else’s site, please read the FAQ at […]
Pacific Control Systems, a Dubai-based information and communications technology provider, has raised 1 billion dirhams ($272 million) in 72-month loans, to partly finance expansion plans. NBF Capital, a unit of National Bank of Fujairah, was financial advisor for the deal. It was joined by Al Khalij Commercial Bank QSC as lead arranger, National Bank of Fujairah said in a bourse statement on Tuesday. The syndication was a […]
This electric bike seems like a real humdinger. It cruises along at 55mph & its Li-Ion battery boasts a 60-mile range on a full charge. It features electronic suspension, disc brakes, 26” Carbon wheels, plus an integrated iPhone holder & iOS app helps you track your ride routes as well controlling power/pedaling modes. This entry passed through the Full-Text RSS service – if this is your content […]
| By Michael Sasso| If you have to fly from New York to New Delhi on April 1, you can book through one of the three big U.S. airlines for at least $1,100 round trip. Or you can take one of Emirates’ luxurious Airbus A380s for less than $900. That choice is at the heart of the complaint raised by Delta, American, and United Continental with U.S. […]
Sharjah Islamic Bank (SIB) priced a $500 million sukuk of five years duration on Tuesday, a document from lead managers showed. The Islamic bond was priced at a spread of 110 basis points over midswaps and carried a profit rate of 2.843 percent, the document said. The final spread was at the tight end of price guidance issued earlier in the day of 115 bps, plus or […]
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 […]
Gen Odierno said that British defence cuts are already jeopardising US-UK joint operations Photo: AP Ever since the Cold War ended more than two decades ago, America has never entertained any serious doubts about Britain’s ability to fulfil its commitment as a vital military ally when tackling threats to the Western alliance. Until now. For the dramatic cuts to Britain’s defence budget implemented since the Coalition took power […]
DUBAI, 4 days ago Wasl Asset Management Group has signed a ‘cloud for customer’ agreement with SAP, the largest of its kind in the enterprise software market company’s UAE history. The real estate development and management organisation will be deploying SAP’s latest cloud solutions to transform its business and provide an even higher standard of service for its customers, said the statement. Hesham Al Qassim, chief executive […]
