A manhunt was underway for a gunman who opened fire on people at a packed nightclub on the shores of Istanbul’s Bosphorus waterway on New Year’s morning, killing at least 39 people, including 15 foreigners, then fled the scene. The suspect escaped the scene by changing clothes at the club after the attack, according to reports on Turkish media. There have also been rumors that there was […]
Authored by Eric Zuesse via Strategic-Culture.org, I’m a former lifelong Democrat, stating here a clear and incontestable fact: Barack Obama is a failed President. It’s true not just because of the sad realities such as that «Top Ex-White House Economist Admits 94 % Of All New Jobs Under Obama Were Part-Time» — or, as the economists Alan Krueger and Lawrence Katz wrote in the original of that study: «94 percent of the […]
DUBAI, June 10 (Reuters) – Saudi Telecom Co (STC), the Gulf’s largest telecommunications operator by market value, said on Tuesday it had completed a 2 billion riyal ($533 million), 10-year debut sukuk issue. The issue, which was almost two times oversubscribed, carried a floating profit rate of 70 basis points over the three-month Saudi interbank offered rate , currently at 0.9525 percent. Government investors, banks, asset managers […]
Dubai’s state utility company has announced that more than 80 percent of the second phase of the Mohammed bin Rashid Al Maktoum Solar Park is complete. The Mohammed bin Rashid Al Maktoum Solar Park is the largest single-site solar park in the world based on the Independent Power Producer model (IPP). The second phase is the first and largest of its kind in the UAE and will […]
DUBAI, June 10 (Reuters) – Saudi Telecom Co (STC), the Gulf’s largest telecommunications operator by market value, said on Tuesday it had completed a 2 billion riyal ($533 million), 10-year debut sukuk issue. The issue, which was almost two times oversubscribed, carried a floating profit rate of 70 basis points over the three-month Saudi interbank offered rate , currently at 0.9525 percent. Government investors, banks, asset managers […]
First Avenue, the new mall and hotel project planned for Motor City in Dubai, has signed up a raft of high-profile food and beverage brands. Krispy Kreme, Costa Coffee, London Diary and Mikel Coffee are among those to have signed up and will join a total of 15 food and beverage outlets at the new motoring-themed mall, co-located with a four-star 150-room Park Inn by Radisson hotel, […]
By Mohamed Abdellah | CAIRO CAIRO An Egyptian appeals court on Saturday upheld an agreement to give control of two islands in the Red Sea to Saudi Arabia, providing a boost for the government in a case that has prompted rare street protests. The territorial deal, announced in April, caused public uproar among many Egyptians who said the uninhabited islands of Tiran and Sanafir belonged to their […]
Globalization, the path that the world economy has largely followed for decades, took some hefty blows in 2016. The election of Donald Trump as U.S. president and Britain’s decision to leave the European Union have raised questions over the future of tariff-free trade and companies’ freedom to move production to lower-cost countries. Borders are back in vogue. Economic nationalism is paying political dividends. “We […]
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Oman’s first budget airline Salam Air has reportedly revised it launch plans with passenger flights now set to begin on January 30, 2017. The low-cost airline, which had previously announced it would start flights in mid-to-late December, said that its initial route will be Muscat-Salalah with international flights to Dubai International to follow on February 15, ch-aviation reported. In October it was reported that Salam Air would […]
Oman, traditionally on friendly terms with Iran, confirmed on Thursday that it had joined a Saudi-led coalition of Muslim countries fighting terrorism, a move praised by other Gulf Arab states as closing ranks with them against Iran. Saudi and Gulf sources reported the development on Wednesday, saying Omani Minister for Defence Affairs Badr bin Saud al-Busaidi had informed Saudi Arabia in a letter that it would join […]
Two beauty queens with links to the Gulf have won the latest season of The Amazing Race Asia. After they returned from filming The Amazing Race Asia last summer, Maggie Wilson-Consunji and Parul Shah could barely contain their excitement. “Don’t let our invisible crowns fool you. We are beauty-queen fighting machines,” they told their fans on social media. “We are scared but also super excited. We cannot […]
By David French DUBAI, June 10 (Reuters) – Banque Saudi Fransi (BSF), the kingdom’s fourth-largest listed lender, will complete a 2 billion riyal ($533 million) capital-boosting sukuk issue by the end of this month, banking sources said on Tuesday. Pricing of the trade, which will boost the bank’s Tier 2 – or supplementary – capital, is at 140 basis points over the Saudi interbank offered rate (Saibor) […]
Oil prices were on track for their biggest annual gain since 2009 after the OPEC grouping and other major producers agreed to cut crude output to reduce a global supply overhang that has depressed prices for two years. US benchmark West Texas Intermediate (WTI) crude futures slipped 12 cents to $53.62 a barrel by 1400 GMT on Friday, while Brent front-month March crude futures were down 19 […]
This has already changed the course of the Syrian war. Turkey grudgingly accepted the fall of Aleppo in return for a de facto recognition of its zone of influence along the Syrian-Turkish border. Instead of supporting rebel groups fighting in Aleppo or pressuring the Assad forces besieging the city, Turkey raced to capture territory from the Islamic State before the Kurds did. The Kremlin is now not […]
WASHINGTON: Almost six months since their summer meeting to achieve closer ties, Russian President Vladimir Putin and his Turkish counterpart Recep Tayyip Erdogan took another step toward that goal by brokering a new cease-fire deal in Syria, to be followed by political talks to try to resolve the six-year-long conflict.The deal — announced simultaneously by the governments of Turkey, Syria and Russia — is a seven-point package […]
Abu Dhabi, United Arab Emirates; December 30, 2017 As the 10th anniversary year of Masdar, Abu Dhabi’s renewable energy company, draws to a close, industry watchers can reflect on 12 months that have marked a historic milestone for the company and a pivotal moment for the renewable energy sector as a whole. During the decade since Masdar was established, the UAE has cemented a global reputation for […]
Saudi Arabian commercial bank deposits rose to their highest level this year in November, a sign that a liquidity crunch due to low oil prices is easing as the government liquidates foreign assets to pay its bills, official data showed on Wednesday. Bank deposits climbed to 1.624 trillion riyals ($433 billion) from 1.610 trillion riyals in October, the fourth straight month-on-month gain, the central bank figures showed. […]
Authored by Oliver Stone (via Facebook), THE RUSSIANS ARE COMING As 2016 draws to a close, we find ourselves a deeply unsettled nation. We’re unable to draw the lines of our national interest. Is it jobs and economy, is it national security, or is it now in our interest to ensure global security — in other words, act as the world’s policemen? As the “failing” (to quote […]
Jeddah, Kingdom of Saudi Arabia, 29 December, 2016 The Islamic Development Bank (IsDB), based in Jeddah, Kingdom of Saudi Arabia, is providing a US $5 million financing support for construction of a solar power plant which is expected to contribute to the sustainability and financial resource optimization of the “King Hussein Cancer Center (KHCC) Expansion Project” in Jordan. The approval came during the 316th meeting of […]
ABU DHABI // Camels owned by Sheikh Sultan bin Zayed, the President’s Representative, have won top prizes in the camel ‘mazayna’ beauty contest at this year’s Al Dhafra Festival. Sheikh Sultan’s camels won the Aayel category for the golden-red camel breed, originally from Oman. Camels belonging to Khamis Al Mazrouie scooped the Majahim category, the black camels of Saudi Arabia. Held in Madinat Zayed in Al Gharbia […]
Oman has joined a Saudi-led coalition of Muslim countries to fight terrorism, Saudi Arabian and Gulf sources said on Wednesday. The sultanate indicated its willingness to take part in the 40-country alliance in a letter to Saudi Deputy Crown Prince and Defence Minister Mohammed bin Salman, the sources said. Although differences are rarely aired in public, Oman has long stood out among its Gulf allies, remaining close […]
By John Davison | BEIRUT BEIRUT A nationwide ceasefire in Syria, brokered by Russia and Turkey which back opposing sides in the conflict, got off to a shaky start after midnight on Friday (2200 GMT on Thursday) in the latest attempt to end nearly six years of bloodshed. Russian President Vladimir Putin, a key ally of Syrian President Bashar al-Assad, announced the ceasefire on Thursday after forging […]
With the US Federal Reserve raising interest rates, and President Mario Draghi of the European Central Bank seemingly unable to escape his addiction to quantitative easing policy, many investors are questioning who wants to buy the euro. The answer is simple. The whole world is eager to buy the euro. The problem in 2017 is more likely to be finding anyone who wants to buy the US […]
JEDDAH / DUBAI (December 29, 2016) Arab News has been honored at this year’s MENAA Awards for its transformation over the last three months and creating “momentum and buzz” in the media industry. The newspaper’s Editor-in-Chief Faisal J. Abbas, who was appointed in late September, was presented with the prestigious Best Business Leaders Award at an event held this month at the Burj Al Arab hotel in […]
