Saudi

Arab Coalition Bombs Yemen’s Capital, Killing Dozens

SANA, Yemen — A Saudi-led military coalition bombarded government buildings and residential neighborhoods in Sana, the Yemeni capital, overnight on Saturday, killing more than two dozen people, officials and witnesses said, and destroying homes in Sana’s Old City, a Unesco World Heritage site. The Saudi coalition, which includes nine other Arab nations and is supported by the United States, began fighting Yemen’s Houthi rebels in March, two […]

Most Powerful Arab Women 2015: Laying the foundations for future generations

UAE. Forbes Middle East has unveiled the names of its Most Powerful Arab Women for 2015 at a glittering awards ceremony that shone a light on some of the region’s most influential and accomplished leaders. The impressive event recognized the achievements of women in reaching the top of their fields in business and government and, in doing so, working towards a fairer and more equal working environment […]

Fear and hatred in Emerging Markets equities

|By Matein Khalid| The world’s emerging markets have been savaged by multiple economic, banking, currency and political shocks since 2011. Global emerging markets are far too diverse and nuanced to be analyzed as a single asset class but now trade at a 24% valuation discount to developed markets. The financial markets now price draconian scenarios for earnings, exports, sovereign credit, industrial production and economic growth. The shortage […]

Uber’s Dubai hub plots growth

Two years on from its launch in the city, ride-hailing service Uber is using its Middle East & Africa headquarters in Dubai to lay the groundwork for expanding in the region–through more than just operating in new cities. Since August 2013, the US-based company, which connects drivers and passengers through smartphone apps, has commenced operations within the GCC in Doha, Abu Dhabi, Riyadh, Jeddah and Saudi Arabia’s […]

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U.N. Human Rights Chief Calls for Independent Inquiry on Yemen

GENEVA — The United Nations human rights chief called on Monday for an independent inquiry into violations in Yemen by the Saudi-led coalition and by the Houthi rebels the coalition is fighting. More than 2,000 civilians have been killed and 4,000 wounded in the Yemen conflict, and the United Nations official, Zeid Ra’ad al-Hussein, told the Human Rights Council in Geneva that the fighting had left 21 […]

Airstrikes Take Toll on Civilians in Yemen War

HAJJA, Yemen — The airstrike slammed into Al-Sham water-bottling plant at the end of the night shift, killing 13 workers who were minutes away from heading home. Standing among the strewn bottles, smoldering boxes and pulverized machines a few days after the airstrike here, the owner, Ibrahim al-Razoom, searched in vain for any possible reason that warplanes from a Saudi-led military coalition would have attacked the place. […]

Airstrikes Take Toll on Civilians in Yemen War

HAJJA, Yemen — The airstrike slammed into Al-Sham water-bottling plant at the end of the night shift, killing 13 workers who were minutes away from heading home. Standing among the strewn bottles, smoldering boxes and pulverized machines a few days after the airstrike here, the owner, Ibrahim al-Razoom, searched in vain for any possible reason that warplanes from a Saudi-led military coalition would have attacked the place. […]

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Last of Emirati soldiers who fell defending Yemen arrive back home

ABU DHABI // The last of the Emirati soldiers who sacrificed their lives defending the people of Yemen arrived home on Saturday, bringing the total number killed to 52. The servicemen died alongside Saudi Arabian and Bahraini troops when a missile fired by Iran-backed Houthi rebels hit an arms depot in Marib province nine days ago. Their bodies were received in a ceremony at Al Bateen Airport, […]

News Analysis: Nuclear Deal Sealed, Obama Must Now Make It Work, and Mend Fences

Middle East News Analysis By PETER BAKER and JULIE HIRSCHFELD DAVIS September 11, 2015 WASHINGTON — Having beaten back a congressional campaign to derail his nuclear agreement with Iran, President Obama now faces a panoply of challenges that may be just as daunting: making the deal actually work while repairing relations with disaffected allies and constraining Tehran’s regional ambitions. He got started Friday even as the House was still voting by announcing […]

Scores Killed in Mecca as Crane Crashes Into Grand Mosque

Middle East By BEN HUBBARD September 11, 2015 IZMIR, Turkey — A large construction crane toppled over and crashed into the Grand Mosque in the holy city of Mecca on Friday, killing at least 107 people and raising fears about the safety of the site before the yearly hajj pilgrimage that is expected to bring in millions of visitors to Saudi Arabia this month. Saudi Arabia’s civil defense authority […]

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Business activity growth in Dubai's private sector strengthens, as new business expands at fastest rate since March

UAE. Latest business survey data pointed to a robust and accelerated expansion in Dubai’s private sector output during August. Furthermore, the rate of business activity growth was the fastest seen since May, with all three monitored sub-sectors reporting stronger output growth in the latest survey period. The rebound in activity growth was underpinned by a stronger expansion in new business, which increased at the strongest rate in […]

Shortage of 'Middle-Income' housing is a major issue in the MENA region

UAE. JLL, the world’s leading real estate investment and advisory firm, has today published a special report on the middle-income housing segment in the Middle East and North Africa region. The report highlights the social and economic impact of a marked shortfall in the required supply of middle-income housing, suggesting that significant efforts are needed to address the current imbalance. The report clearly outlines that this shortage […]

Sheikh Mohammed bin Zayed visits injured soldiers

ABU DHABI // Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, led condolences for 45 soldiers killed on Friday in Yemen, with a visit to some of the servicemen injured in the attack. Sheikh Mohammed visited the men at Zayed Military Hospital. He praised the soldiers’ steadfastness, heroism and dedication while defending their rights and supporting their brothers […]

Sheikh Mohammed bin Rashid praises loyalty and dignity of UAE heroes’ families

Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, on Monday praised the loyalty and dignity shown by the families of the 45 Emirati heroes, who were killed in Yemen last Friday. Sheikh Mohammed’s comments came as the body of one of the 45 arrived at Al Bateen Airport in Abu Dhabi after identification in Saudi Arabia. The fallen soldier was given full ceremony and attended […]

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Op-Ed Contributor: Israel in a Post-Deal World

HAIFA, Israel — THE day after six world powers reached a nuclear agreement with Iran in July, the Israeli Knesset’s foreign affairs and defense committee called on Israel’s government to “continue to closely follow the precise and strict implementation” of the agreement “to ensure that Iran is not continuing to fool the international community as it did in the past, while strengthening the historic alliance between the […]

Debbie Wasserman Schultz, Head of D.N.C., Backs Iran Nuclear Deal

WASHINGTON — Representative Debbie Wasserman Schultz, the chairwoman of the Democratic National Committee, announced on Sunday that she will support the nuclear agreement with Iran that has roiled many in her Florida district. “I’ll be casting my vote to support the deal and if necessary sustain the president’s veto,” she told Jake Tapper on “State of the Union” on CNN. While she called it a “gut wrenching” […]

Oil price seen at $55 next year

With oil stock balances next year looking softer and costs coming down, the commodity will trade at $55 and $61 per barrel during 2016 and 2017, respectively, said the Bank of America (BofA) Merrill Lynch in a report. “Looking at the near-term, however, we still believe oil prices will rebound into year-end on a combination of factors,” said the report titled “Global Energy Weekly: Oil at an […]

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UAE’s support of Yemen to remain unflinching

As war heroes’ bodies come home, Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces tells Yemen: ‘We are with you until the mission is accomplished’ The UAE on Saturday buried its war heroes, began three days of mourning for their sacrifice and pledged unceasing military and humanitarian efforts to restore peace,security and stability to Yemen. The bodies of […]

Gulf Monarchies Bristle at Criticism Over Response to Syrian Refugee Crisis

BEIRUT, Lebanon — The Arab kingdoms of the Persian Gulf have some the world’s highest per capita incomes. Their leaders speak passionately about the plight of Syrians, and their state-funded news media cover the Syrian civil war without cease. Yet as millions of Syrian refugees languish elsewhere in the Middle East and many have risked their lives to reach Europe or died along the way, Gulf nations […]

Flags at half-mast as UAE mourns fallen servicemen

ABU DHABI // Rulers of the emirates, officials and leaders from abroad on Saturday joined the nation in mourning and honouring the 45 heroes who fell in Yemen’s defence on Friday. Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, received condolences from Kuwait, Qatar, Egypt, Bahrain, Morocco, Saudi Arabia, and from the French defence minister Jean-Yves Le Drian. […]

Exodus of Syrians Highlights Political Failure of the West

Middle East Refugees from Syria walked down the railway in Horgos, Serbia, on Sunday before crossing into Hungary. By ANNE BARNARD September 4, 2015 BEIRUT, Lebanon — Arresting images of desperation on the West’s doorstep have brought Syria, for the moment, back to worldwide attention: refugees cramming into train stations and climbing border fences; drowned Syrian toddlers washing up on beaches, a girl in polka dots, a boy in […]

20 Yemenis Killed in Bombings at Mosque in Capital

SANA, Yemen — A suicide bomber and a subsequent car bomb killed at least 20 people on Wednesday at a mosque here in Yemen’s rebel-held capital amid the country’s raging civil war, officials said. The suicide bomber struck inside the mosque in Sana during the evening call to prayers, while the car bomb exploded outside an entrance, the authorities said. Medical officials said that wounded people were […]

Hong Kong, China and the new macro game

|By Matein Khalid| Hong Kong now trades at 9.6 times earnings and 0.86 book value. Hang Seng valuations were gutted by the protest movements in Central and the Shanghai financial meltdown. The Hang Seng index is down 25% since late May and now trades at six times forward earnings, its post Lehman, post 2014 bottom. Hong Kong trades at its lowest price/book value since the Asian flu […]

Gulf management need to take more risks and drive innovation, says global survey

UAE. Management in the Gulf need to take more risks and develop staff to think creatively, according to a new global innovation survey designed to help companies stop wasting their best ideas and flushing hundreds of billions of dollars down the drain. Announced in Abu Dhabi today by PA Consulting Group, the report highlights an overwhelming view that leadership of organisations in the UAE, Saudi Arabia and […]

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Lebanese Protesters Aim for Rare Unity Against Gridlocked Government

BEIRUT, Lebanon — Lebanese demonstrators gathered by the thousands on Saturday evening to protest towering garbage piles, corruption and political dysfunction, largely avoiding the clashes with security forces that had marred earlier protests. The crowd in downtown Beirut was the biggest turnout yet, and many people arrived leery of the possibility of violence. Last weekend, security forces used water cannons, tear gas and rubber bullets as some […]

Second quarter sees steady decline in Dubai property values since last year's peak

UAE. The second quarter 2015 real estate report issued by leading local consulting firm ValuStrat – has shown a steady decline in property values since the peak last year. However, the rate of decline is easing and is expected to continue to decelerate over the remainder of the year. The Residential VPI (ValuStrat Price Index), which is a 100 point index that started tracking residential values since […]

MENA primed to become global logistics hub, says Al Masah Capital report

UAE. The MENA Region is all set to become a global logistics hub in the next few years, an Al Masah Capital Limited Report on “Transportation & Logistics in MENA” has revealed, which experts believe will be driven by the emergence of the MENA-Asia trade corridor that will redefine global supply chains. Notably in 2013, India and China ranked as top merchandise export and import destinations for MENA […]

Business confidence falls in Middle East, but not as quickly as in previous quarter, finds survey

UAE. Business confidence in the Middle East continued to fall in the second quarter of 2015, but not as quickly as it had in the first three months of the year, according to the to the Global Economic Conditions Survey (GECS) organised by ACCA (the Association of Chartered Certified Accountants and IMA (the Institute of Management Accountants). The slight optimism was due to a temporary reprieve in […]

Op-Ed Contributor: Gaza, Gulag on the Mediterranean

GAZA CITY — At this time last year, as the missiles and bombs rained down in Israel’s lopsided seven-week war against Gaza, I wrote about our struggle to survive during the holy month of Ramadan. This year, another Ramadan has passed, Eid al-Fitr is over and the reality on the ground has changed very little. The same dreadful conditions are creating desperation among Gaza’s inhabitants, whose lives […]

Aden flies the flag in tribute to the UAE

ADEN // The streets of Aden are filled with the flag of the UAE – fluttering above checkpoints, flying from cars, and draped over homes, businesses and government buildings. In the weeks since Houthi rebels were driven from Yemen’s southern port city, there has been an outpouring of gratitude from residents for Emirati troops. “The Emirates’ soldiers were in the frontlines of the battle against the Houthis, […]

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