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Lee Kum Kee Sponsors the 9th World Championship of Chinese Cuisine // Emirates Reports 71% Jump in Profits to $5.1 billion // Eq8 Capital Rebrands with Greater Accessibility to Its Exchanged Traded Fund // Andertoons by Mark Anderson for Tue, 14 May 2024 // Anwar Gargash Diplomatic Academy Unveils Programs at Education Exhibition // DP World Strengthens Ties with Arab Media Forum as Strategic Partner for 22nd Edition // Tech and Innovation Fuel Global Food Investments // What Jews, Palestinian Israelis and Turkish Kurds have in common // Wisconsin Investment Board Makes History with BlackRock Bitcoin ETF Purchase // Nexusguard: 87% of DDoS Attacks Targeted Windows OS Devices in 2023 // Cecilia Chang Earns Prestigious Recognition in the Insurance’s “Global 100” Award // Solar Storm Dazzles Earth // Gulf Food Innovation poised for a quantum leap after 2024 Conference, says MBRGI CEO // Coda Bridge Launches First-of-its-Kind Purpose Bound Money Blockchain Charity Project in Hong Kong // Sheikh Zayed Book Award, Kalima Project Bridge Cultures at Arab-Chinese Symposium // Appier delivers strong Q1 results, achieving continuous profitable growth with diversified customer traction // Social Infrastructure UXLINK Launches Limited Community Sale for Airdrop Voucher NFTs // Mitsumi Distribution spearheading Technological Advancement at GITEX Africa 2024. // Revenue Soars But Profits Dip for Abu Dhabi Ports in First Quarter // Ajman Medical Center Equips Staff with Operational Plan and Performance Indicator Training //

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Investing

|By Matein Khalid| The plunge in crude oil after OPEC’s Vienna conclave, Dr. Draghi’s failure to resist Bundesbank pressure not to fire another ECB easy money bazooka, Wall Street’s junk bond debacle and an imminent rise in the Fed Funds rate for the first time since 2006 will all shape the next big trades in Planet Forex. The Euro has risen to 1.10 on Draghi’s failure to […]

Featured

As oil crashes through $35 a barrel in New York, some producers are already living with the reality of much lower prices. A mix of Mexican crudes is already valued at less than $28, an 11-year low, according to data compiled by Bloomberg. Iraq is offering its heaviest variety of oil to buyers in Asia for about $25. In western Canada, some producers are selling for less […]

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Republican presidential contender Donald Trump said his call to ban Muslims from entering the U.S. sparked a useful discussion about radicalism within that community, and he’s not daunted by polls showing most Americans oppose the idea. “I didn’t do this for polls so I don’t even care what the polls say,” Trump said in an appearance Sunday on CNN’s “State of the Union With Jake Tapper.” “My polls […]

Biz Tech

|By Arabian Post Staff| AstroLabs, Google -backed technology hub, is helping regional entrepreneurs to grow their startups. AstroLabs opened in October, with 42 startups picked from among 250. The facility features a device lab designed by Google is equipped with iPhones, Android smartphones, tablets and computers, which can be used by startups to test their mobile applications and content. One of the aspiring entrepreneurs is Lamia Tabbaa-Bibi, creator of IReadArabic.com, […]

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Economy

Oil declined to the lowest level since 2008 in London amid estimates that OPEC’s decision to scrap production limits will keep the market oversupplied. Brent futures capped the biggest weekly decline in more than a year. The global surplus will persist at least until late 2016 as demand growth slows and the Organization of Petroleum Exporting Countries shows “renewed determination” to maximize production, the International Energy Agency said Friday. […]

Talking Point

|By Dr Alaa Alghamdi| Dear Mr. Friedman, While I would like nothing better than to thank you for your concern for our youth and our country, as expressed in your Nov. 25 piece in the New York Times, I find I cannot in good conscience do so. You made certain observations during your stay in Riyadh, observations which no doubt may sound fresh and even enlightened to […]

Featured

|By Arabian Post Staff| Dubai-based Landmark Group said it was pulling Donald Trump products off its shelves in response to the Republican presidential front-runner’s call for a ban on Muslims entering the United States. Landmark and DT Home Marks International LLC have an exclusive deal to sell Trump Home products – including lighting, mirrors, and jewellery boxes – in their Lifestyle department stores in Kuwait, the UAE, […]

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Featured

|Arabian Post Special| The relentless plunge in oil price, which analysts are likening to the crash of 1990s, and its serious implications on spending plans are putting the focus back on the Gulf currencies’ dollar peg, including that of the UAE dirham. Despite consistent backing for the dollar peg from all possible channels, including the monetary authorities, the debate is back with a bang. And the market […]

Featured

OPEC has seemingly dropped any attempt at trying to fulfill its founding mission and manage the global oil market. For Saudi Arabia’s Ali al-Naimi, the most powerful and longest-serving of the group’s oil ministers, it may have seemed like history was repeating itself. There are several striking parallels between the Organization of Petroleum Exporting Countries’ current situation and the period from 1997 to 1999, when the group lost […]

Talking Point

|By Alaa Alghamdi| Tragedies in Mecca recently were shocking and devastating to witness, for everyone in the world, and most particularly for us in Saudi Arabia. This stronghold of our traditions and faith, during which we host the world in allowing access to our most sacred places, has a unique and central spot in the hearts of our people. Over the years it has been marred by […]

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Featured

|By Arabian Post Staff| Opec’s ability to control the oil market suffered its worst debacle when the organization failed to agree on a ceiling for production. This meant that Saudi Arabia prevailed over other members to continue the policy of excess production as to force non-OPEC players, such as the US and Russia, out of the market by making their output uneconomical. “Lots of people said that […]

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|By Arabian Post Staff| The AED 1.9 billion debt restructuring deal by Dubai government-owned entity Limitless has run into trouble following resistance by some of the creditors, Reuters reported quoting three banking sources. The company needs complete creditor approval in order to push through any deal. The delay in completing the deal is causing uncertainty, particularly in view of the weakness in the UAE property market, the […]

Biz Tech

|By Arabian Post Staff| The latest appendix to the Ericsson Mobility Report for the Middle East and North East Africa  reveals that mobile data traffic will  experience 16 times growth by 2021. This massive growth will be driven by availability of affordable smartphones, coupled with availability of mobile broadband networks in highly populated countries, increased number of subscribers moving to faster networks and growth of the video […]

Talking Point

|By Dr Alaa Alghamdi| Ambassador Mohammed bin Nawaf bin Abdulaziz’s eloquent plea in the UK Telegraph newspaper is a rational, well-stated reminder of the importance of fairness and respect amid today’s complex arena of foreign relations. As the Ambassador points out, Saudi Arabia and the United Kingdom have been allies since 1932, the better part of a century. This relationship presupposes a certain amount of trust between […]

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Off the Cuff

Arab countries’ political, social and economic realities affect their nationals’ dreams. We spend a third of our lives sleeping. What if we can unlock the mystery of what happens in our subconscious minds when we’re asleep? Are our dreams connected to one another? Does our local environment influence what we dream? What if we had a tool that can analyze hundreds of thousands of people’s dreams to […]

Featured

|By Arabian Post Staff| Dubai’s external debt continues to be at tight spreads, given still high leverage and refinancing challenges but this is somewhat offset by certain positive aspects, a Bank of America-Merrill Lynch research report said. The positives include still solid local bid on the shorter end of the curve and its low-beta defensive status within an emerging markets context. The Iran nuclear deal is another […]

Featured

|By Arabian Post Staff| A scenario of continued fall in oil prices, OPEC oil export revenue could fall by a quarter despite the higher output, according to International Energy Agency outlook for oil. In the Low Oil Price Scenario, the Middle East’s share in the oil market ends up higher than at any time in the last forty years, it says. According to IEA, lower prices are […]

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Featured

Airbus Group SE escaped order oblivion at the Dubai Air Show after negotiating a last-minute agreement to sell 30 narrow-body planes to VietJet Aviation — prompting the European planemaker to take a swipe at Boeing Co. over the announcement of a deal that had already been booked. VietJet agreed to buy nine current-generation A321s and 21 upgraded A321neos worth $3.6 billion at list prices after negotiations that […]

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|By TAP Staff| Dubai developer Limitless has failed to repay over $500 million, which it had promised to pay banks from the proceeds of a land sale in Saudi Arabia as part of the debt restructuring deal with the banks and this has apparently caused concern among the banks. Last week Bloomberg had reported that the developer should have paid about $517 million to banks more   than   […]

Economy

|By TAP Staff| Middle East carriers recorded a 9.9% increase in passenger traffic demand in September, well down on the 13.7% year-over year growth experienced in August,  International Air Transport Association (IATA) announced. Capacity rose 12.9% and load factor slipped 2.1 percentage points to 75.7%. Major economies in the region, including Saudi Arabia and the United Arab Emirates, have experienced slowdowns in non-oil sectors, it pointed out. […]

Investing

|By Matein Khalid| I was in a pensive-philosophic mood last week as I decompressed from a trip to a hauntingly beautiful post Soviet country in the Caucasus, the land that produced Koba from Gori and Prince Pyotr Bagration, the fallen hero of Tsar Alexander’s imperial guard at Borodino. Yet Georgia gave me time and perspective to think about the financial firestorms on Wall Street, Marounuchi, the Gulf […]

Featured

|By TAP Staff| The UAE banking sector has lost AED56 billion ($15.25 billion) in government deposits since September last year, NBAD Chief Executive Alex Thursby disclosed. Out of this, NBAD alone lost AED48 billion he said. According to a bank statement, deposits fell to AED31.2 billion last month from 69.6 billion at the end of December. The decline in oil prices is forcing countries from Saudi Arabia […]

Banking & Finance

|By TAP Staff| Union National Bank reported third-quarter profit that missed analyst estimates as impairment charges rose and fee and trading income declined. Net income fell 12 percent to 480.6 million dirhams ($131 million), the Abu Dhabi-based bank said in a statement to the stock exchange on Sunday. Impairment charges jumped 57 percent to 199.8 million dirhams. Fee and commission income dropped 16 percent and the lender […]

Featured

|TAP Special| The UAE healthcare sector witnessed another landmark deal when Aster DM Healthcare acquired an additional 57 per cent stake in Sanad Hospital in Riyadh, Saudi Arabia, raising its total ownership stake to 97 per cent. The AED 900 Million (US$ 245 Million) investment in the Kingdom brings the total number of Aster DM Healthcare hospitals to six in the Gulf. Sanad Hospital has seen steady […]

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Featured

The world is awash in crude, but big oil companies are lining up to develop new fields in Iran even as they slash spending and abandon exploration elsewhere. One thing explains this paradox: cost. The Middle Eastern country is one of the cheapest places in the world to tap new oil fields and pump from existing wells. The slump in crude prices makes Iran even more attractive […]

Featured

|By TAP Staff| Dubai Water and Electricity Authority has chosen a consortium including China’s Harbin Electric and Saudi Arabia’s ACWA Power as the preferred bidder to build and operate a 1,200 megawatt clean coal power plant. The plant is the first phase of the $1.8 billion Hassyan clean coal project under planning by Dubai Electricity and Water Authority (DEWA). One unit of 600 MW is to be […]

Health

|By TAP Staff| Dr David Alessi, the Beverley Hills-based plastic surgeon who helped many a celebrity transform their faces and body shapes to keep pace with the latest trend in high fashion, will soon be available in Dubai and Abu Dhabi for the benefit of people in the UAE and the region. The founder and medical director of Alessi Institute located in Beverly Hills is currently here […]

Real Estate & Construction

|By TAP Staff|Indian nationals were ranked first for foreign investment in Dubai’s property sector for the first half of this year, having made a total of 3,017 transactions worth AED 7.8 billion, according to statistics released by the Dubai Land Department. British investors were in second place having conducted deals worth AED 4.7 billion, followed by Pakistani investors with transactions worth AED 3.3 billion. Canadian investors came […]

Politics

| By Yaroslav Trofimov| Despised by some, admired by others, the U.S. has been the Middle East’s principal power for decades, providing its allies with guidance and protection. Now, however, with Russia and Iran thrusting themselves boldly into the region’s affairs, that special role seems to be melting away. As seasoned politicians and diplomats survey the mayhem, they struggle to recall a moment when America counted for […]

Featured Blogs

UAE.  Across the GCC, public pension funds amount to US$397 billion, representing nearly a quarter of GDP and US$15,000 per national. This is according to EY’s GCC Wealth and Asset Management 2015 report – “Fast growth, divergent paths”, launched at the FundForum Middle East 2015. GCC Governments are relooking at existing models of both public and international pension funds to ensure they are sustainable. George Triplow, MENA […]

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Just in:
Cecilia Chang Earns Prestigious Recognition in the Insurance’s “Global 100” Award // Dubai Roads Unveils “Inspiring Women Leaders” Program // Solar Storm Dazzles Earth // MoneyHero Appoints Hao Qian Chief Financial Officer // VT Markets Shares Expert Tips on Recognising Genuine // Loss In Hindi Belt May Prove Too Costly For PM Narendra Modi And BJP // 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 // Emirates Reports 71% Jump in Profits to $5.1 billion // Introducing Rescence EYE Optima: The Breakthrough Eye Anti-aging Supplement // Eq8 Capital Rebrands with Greater Accessibility to Its Exchanged Traded Fund // Wisconsin Investment Board Makes History with BlackRock Bitcoin ETF Purchase // Mitsumi Distribution spearheading Technological Advancement at GITEX Africa 2024. // What Jews, Palestinian Israelis and Turkish Kurds have in common // Lee Kum Kee Sponsors the 9th World Championship of Chinese Cuisine // Diamond Stakeholders Convene in Dubai to Discuss Industry Reform // Andertoons by Mark Anderson for Wed, 15 May 2024 // Social Infrastructure UXLINK Launches Limited Community Sale for Airdrop Voucher NFTs // Andertoons by Mark Anderson for Tue, 14 May 2024 // Tech and Innovation Fuel Global Food Investments //