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Anwar Gargash Diplomatic Academy Unveils Programs at Education Exhibition // What Jews, Palestinian Israelis and Turkish Kurds have in common // Emirates Reports 71% Jump in Profits to $5.1 billion // Appier delivers strong Q1 results, achieving continuous profitable growth with diversified customer traction // NetApp and Lenovo Offer Converged Infrastructure Solution Optimized for GenAI // VT Markets Shares Expert Tips on Recognising Genuine // Lee Kum Kee Sponsors the 9th World Championship of Chinese Cuisine // Dubai Reigns Supreme in Foreign Investment Destination Race for Third Year Running // Coda Bridge Launches First-of-its-Kind Purpose Bound Money Blockchain Charity Project in Hong Kong // Burjeel Medical City and TII Forge Alliance to Bolster Cancer Immunotherapy // Dubai Gold Traders Push for Streamlined Regulations // Introducing Rescence EYE Optima: The Breakthrough Eye Anti-aging Supplement // Loss In Hindi Belt May Prove Too Costly For PM Narendra Modi And BJP // Diamond Stakeholders Convene in Dubai to Discuss Industry Reform // Revenue Soars But Profits Dip for Abu Dhabi Ports in First Quarter // DP World Strengthens Ties with Arab Media Forum as Strategic Partner for 22nd Edition // Andertoons by Mark Anderson for Wed, 15 May 2024 // Eq8 Capital Rebrands with Greater Accessibility to Its Exchanged Traded Fund // Cecilia Chang Earns Prestigious Recognition in the Insurance’s “Global 100” Award // Dubai Roads Unveils “Inspiring Women Leaders” Program //

Saudi

Featured Blogs

UAE.  The start of 2016 signalled another loss of growth momentum at UAE non-oil private sector firms, with business conditions improving at the weakest rate since March 2012. Underpinning the slowdown was a relatively subdued rise in new work, which was linked in turn to a near-stagnation in new export business. Growth rates for output and employment also eased, though stocks of pre-production items increased more quickly. […]

Featured Blogs

UAE. In an article published today, titled “Qatari Banks’ Profitability To Wane In 2016,” Standard & Poor’s Ratings Services says that it anticipates tightening liquidity, slackening credit growth, and weakening profitability for Qatar’s banks in 2016. Although the drop in hydrocarbon prices and the Qatari government’s streamlining of its public investment program are putting the brakes on the domestic economy, banks’ asset quality held generally steady while […]

Middle East

Video Bashar al-Jaafari, the Syrian government’s chief negotiator, blamed the opposition for the postponement of the talks, calling them a failure. By NICK CUMMING-BRUCE and SOMINI SENGUPTA February 3, 2016 GENEVA — The United Nations on Wednesday temporarily suspended the fledgling talks aimed at ending the war in Syria and called on the countries fueling the conflict to do more to yield results, as Syrian government forces sharply escalated an offensive […]

Middle East

By SHUAIB ALMOSAWA and KAREEM FAHIM February 3, 2016 SANA, Yemen — An airstrike by a military coalition led by Saudi Arabia hit a cement factory north of Sana, Yemen’s capital, on Wednesday evening, killing at least 15 people, including civilian workers in nearby businesses, according to local security and medical officials. The bombing of the factory, in Amran Province, came days after Saudi officials pledged to form a high-level committee […]

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Columns

|By Matein Khalid| “One country, two systems”. This was the historic formula under which Margaret Thatcher agreed to hand over the British Crown Colony of Hong Kong to the People’s Republic of China, then ruled by Paramount Leader Deng Xiao Ping. The Hong Kong dollar’s spike to 7.81, on the high end of its 7.75 – 7.85 band, demonstrates the sheer scale of the speculative attack against […]

Economy

|By Arabian Post Staff| The low oil prices are likely to dampen the impact of Iran deal for Dubai, although the emirate will be the main beneficiary in the region from the opening up of Iran’s domestic market, Bank of America-Merrill Lynch said in its latest report. “We still think that normalized external financing flows and macro reforms in Iran will be required to support sustainably higher […]

Economy

Drivers in the U.S. oil hub of Houston can fill their tanks for less than the cost in Abu Dhabi and Dubai for the first time since 2008 as falling crude prices push Middle East exporters to cut government fuel subsidies. The price of the cheapest grade in the United Arab Emirates, of which Abu Dhabi is the capital, is 1.51 dirhams per liter ($1.55 a gallon) […]

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Featured

Plans for a 1,350-mile railroad running the length of the Persian Gulf from Kuwait to the Indian Ocean are in doubt after the United Arab Emirates halted contract awards amid a review of spending as oil proceeds shrink. Abu Dhabi-based Etihad Rail has suspended the tender process for stage two of the project, which is due to take the line west to the U.A.E.’s border with Saudi […]

Featured Blogs

UAE.  To coincide with the annual Arab Health Exhibition & Congress this week, six major investment opportunities in the GCC’s health care market in 2016 have been predicted by EY as being areas of high demand and growth in the region. According to the EY ‘Investment Big Bets – Healthcare and Life Sciences in the GCC’ report launched today, specialized centers of excellence (CoEs), home health care […]

Featured Blogs

INTERNATIONAL. Oilprice.com recently spoke with Carl Larry, Director of Oil and Gas at Frost & Sullivan, a consultancy that conducts research on oil and gas markets, to get his thoughts on the state of oil in 2016. Oilprice.com: I saw that you were on Bloomberg in December, and you said that you thought oil would go to the low $30s per barrel, which was a good call […]

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Featured Blogs

SAUDI ARABIA. 2015 has established itself as a record-breaking year for cross-border M&A post-financial crisis, according to a Cross-Border M&A Index* by global law firm Baker & McKenzie. With corporate deal-making activity at record highs, those companies are also executing record levels of cross-border transactions, a global trend reflected in the Middle East. Overall M&A in 2015 reached US$4.28 trillion, of which 39% were cross-border in nature […]

Featured

Less than two months after OPEC nations sparred over oil policy in Vienna, they resumed the debate at Davos. Nigeria’s oil minister, speaking on a panel at the World Economic Forum in the Swiss resort, said the Organization of Petroleum Exporting Countries needs to meet soon as crashing prices force the group to reconsider its current laissez-faire policy. Saudi Arabia, represented by the chairman of its national […]

Columns

|By Matein Khalid| I had called for Brent crude to fall to $30 in successive columns since the November 2014 OPEC conclave in Vienna, when Saudi Arabia abandoned its traditional role as the “swing producer” the central bank of black gold. The world oil markets now face a supply shock, a demand shock, epic volatility and the loss of the “swing producer”. The world is running out […]

Talking Point

As the chattering chieftains of the global economy gather this week in Davos, Switzerland, they’re facing the darkest outlook since the financial crisis tipped the world into recession seven years ago. The Chinese slowdown and accompanying slide in the yuan are imperiling already sluggish international growth, oil is trading at its lowest level in more than a decade, stocks have suffered their worst January ever, and the […]

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Featured

Global oil markets could “drown in oversupply,” sending prices even lower as demand growth slows and Iran revives exports with the end of sanctions, according to the International Energy Agency. The IEA trimmed 2016 estimates for global oil demand as China’s economic expansion weakens and raised forecasts for supplies outside the Organization of Petroleum Exporting Countries. While non-OPEC supply is set to drop 600,000 barrels a day […]

Featured

As Iran emerges from a decade of international sanctions, its Gulf Arab rivals are facing their toughest economic predicament since the global financial crisis. Governments across the six-nation Gulf Cooperation Council are taking unprecedented measures to counter the slump in oil prices, curtailing some of the world’s most generous welfare systems to plug widening budget deficits. In some countries, contractors are facing delays in government payments, while […]

Talking Point

Iran’s release from sanctions testifies to its new relationship with the United States as it moves from pariah state to regional power, a status that could come at the cost of Saudi Arabia, Washington’s chief Arab ally. Enemies and allies alike must adjust to Iran becoming an uninhibited power broker in the Middle East after its nuclear deal with world powers and Saturday’s lifting of sanctions that […]

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Featured

Stocks across the Middle East tumbled as the easing of sanctions against Iran raised the prospect of a surge in oil supplies to a market already reeling from the lowest prices in more than a decade. Shares in Tehran gained. Saudi Arabia’s Tadawul All Share Index dropped 5.4 percent to its lowest level since March 2011. Abu Dhabi’s ADX General Index fell into a so-called bear market. The Bloomberg […]

Featured

After a decade of unprecedented economic sanctions, Iran is about to be back in business. The Islamic Republic curbed its ability to make a nuclear bomb as required under a deal with world powers, clearing the way for it to resume global commerce, the International Atomic Energy Agency said Saturday. The European Union, United Nations and U.S. agreed in July to lift sanctions simultaneously once compliance was verified. […]

Economy

Gulf Arabs could pull billions in investment money from the United States if Donald Trump wins the presidency later this year, billionaire UAE businessman Khalaf Al Habtoor told Reuters. Trump, front-runner to be the Republican presidential candidate, triggered outrage around the world when he advocated a temporary ban on Muslims entering the United States. The United States “will lose their businesses, people will cancel any plans of […]

Investing

|By Matein Khalid| This was the ghastliest week for global risk assets since September 2011. Not even 290,000 new US jobs in December could negate the raw fear on Wall Street generated by the 10% fall in Shanghai, a yuan depreciation, market meltdowns of 6 – 7% in Tokyo, Hong Kong, Frankfurt, Mumbai and New York. Four months ago, I had published a KT article titled “History’s […]

Featured

|By Arabian Staff| Additional information forthcoming from state-owned Saudi oil giant Aramco suggests that the proposed IPO may be restricted to refining and other similar activities rather than the parent company as a whole. Aramco clarified in a statement the other day that while the company was studying options including a full initial public offering, one of the options under consideration is “listing of a bundle” of […]

Columns

|By Dr Alaa Alghamdi| In a modern, largely secular world, it is remarkable to observe how strongly the interplay between the original ‘big three’ Abrahamic religions, many hundreds of years old and stemming from a common root, still affect world affairs and attitudes toward them. To cite a somewhat whimsical analogy, Rick Riordan’s series of books about a character named Percy Jackson posits that the Greek gods […]

Economy

Saudi Arabia’s potential initial public offering of its state oil company could be the largest ever, a juicy target for any ambitious Wall Street bank. In a country traditionally cold to outsiders, only a few have the experience to win it. JPMorgan Chase & Co. and HSBC Holdings Plc are among international lenders in the best position to win a role if the kingdom goes ahead with […]

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Banking & Finance

|By Arabian Post Staff| The UAE insurance industry has recently started to show signs of impact due to lower oil price and the challenging economic environment. The shifting regulatory landscape, increased competitiveness and light regulatory enforcement were some of the key topics of discussion at the recent Business Breakfast organized by EY, attended by key insurers and market players in the UAE insurance industry. “The UAE insurance […]

Economy

At almost any other time, an escalating diplomatic conflict between OPEC members Iran and Saudi Arabia would mean a spike in oil prices. That the rally this time couldn’t be sustained shows just how abnormal things are in the oil market. Brent crude has fallen 0.5 percent this week as a global supply glut and the slowest Chinese growth in a generation trumped mounting strife between the […]

Banking & Finance

India’s rupee fell the most since November on speculation demand for riskier assets will be hurt as tensions in the Middle East intensify and poor Chinese economic data adds to concern over global growth. Emerging-market stocks and currencies dropped Monday as manufacturing in China weakened for a fifth straight month, the longest such streak since 2009. Saudi Arabia cut ties with Iran and expelled the Islamic Republic’s diplomats, […]

Columns

|By Matein Khalid| In retrospect, the last six years were a unique period in global central banking, an epic monetary experiment that averted a Great Depression after Lehman’s failure and interbank/credit contagion plunged the world into recession in 2008-9. Yet the Fed (and later Bank of Japan, ECB and even PBOC) quantitative easing also led to asset bubbles, credit market excesses, currency wars and the mispricing of […]

Featured

Almost every Middle Eastern stock index declined after oil, the region’s main source of income, sank to the lowest in seven years, damping the outlook for government spending. Dubai’s DFM General Index ended its longest winning streak in almost three months, sliding 1.5 percent, the most in a week, to close at 3,026.05. Emirates NBD PJSC’s 4 percent retreat was the biggest contributor. The Tadawul All Share […]

Featured

|By Arabian Post Staff| Central banks in the Gulf raised the interest rates within 24 hours of the US Fed announcing a quarter percent rate hike as their currencies are linked to the dollar. At least four central banks announced the hike.    “We have an advantage over other emerging markets because the currencies are pegged,” so there are fewer foreign exchange risks, said Nabil Farhat, an […]

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Just in:
Hong Kong Crypto Funds Hemorrhaged Millions This Week // Tech and Innovation Fuel Global Food Investments // Introducing Rescence EYE Optima: The Breakthrough Eye Anti-aging Supplement // Dubai Gold Traders Push for Streamlined Regulations // Lee Kum Kee Sponsors the 9th World Championship of Chinese Cuisine // DP World Strengthens Ties with Arab Media Forum as Strategic Partner for 22nd Edition // Emirates Reports 71% Jump in Profits to $5.1 billion // Burjeel Medical City and TII Forge Alliance to Bolster Cancer Immunotherapy // Appier delivers strong Q1 results, achieving continuous profitable growth with diversified customer traction // Dubai Roads Unveils “Inspiring Women Leaders” Program // Revenue Soars But Profits Dip for Abu Dhabi Ports in First Quarter // Cecilia Chang Earns Prestigious Recognition in the Insurance’s “Global 100” Award // Solar Storm Dazzles Earth // Eq8 Capital Rebrands with Greater Accessibility to Its Exchanged Traded Fund // Andertoons by Mark Anderson for Wed, 15 May 2024 // What Jews, Palestinian Israelis and Turkish Kurds have in common // Diamond Stakeholders Convene in Dubai to Discuss Industry Reform // NetApp and Lenovo Offer Converged Infrastructure Solution Optimized for GenAI // VT Markets Shares Expert Tips on Recognising Genuine // Loss In Hindi Belt May Prove Too Costly For PM Narendra Modi And BJP //