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BLOOVO.COM identifies key areas of regulatory focus to help SMEs take on job creation and national economic expansion role Dubai December 20th, 2016 With the oil price slump creating a USD 275 billion export shortfall for GCC countries, regional governments are prioritising economic diversification. Accelerating SME sector growth is an integral element of this economic strategy, says a new report by WWW.BLOOVO.COM . www.BLOOVO.COM’s research shows that SMEs […]

World

It started off as one of those typical conversations you have when you’re in a foreign country and the taxi driver recognizes you to be a foreigner. “Where are you from?,” he asks, soon after I get into the bright yellow taxi cab, to which I reply “Sri Lanka.”“Beautiful country,” he responds.“Have you been there?” I ask him politely.“No, but my friend went there for a holiday. He […]

Middle East

ABU DHABI // Iran’s nuclear deal and the republic’s support for militias across the region are some of the major threats GCC countries face, the head of an Abu Dhabi think-tank told the British Parliament. Dr Ahmed Al Hamli told the International Relations Committee this threat had led to a regional shift of power from legitimate states to illegitimate terrorist groups, weakening the region for the Islamic […]

Middle East

Majid Al Futtaim has announced that it has secured an exclusive retail agreement with American Girl, a division of Mattel, and a premium brand for dolls. The deal also encompasses Majid Al Futtaim being awarded exclusive distribution rights in the UAE, Saudi Arabia, Kuwait, Qatar, Bahrain and Oman, spanning bricks and mortar retail, airport-based retail and e-commerce. The first American Girl store in the UAE is slated […]

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Companies

The newly opened location will expand company’s existing office portfolio, including several offices in Europe and recently announced US presence. 20 December 2016 Dubai, United Arab Emirates – Walkbase, a leading IoT analytics and marketing platform for retail, today announced the opening of its office in Dubai, UAE, resulting from a growing number of existing customer cases and ongoing discussions in the Middle East region. The decision to open […]

Politics

TEHRAN: Iran’s president lashed out at the country’s hard-liners on Monday, accusing them of ignoring human rights, which he said are enshrined in the constitution.Hassan Rouhani’s remarks were apparently an attempt to appeal to the liberal-minded among the country’s middle class ahead of Iran’s May presidential elections. Without naming names, Rouhani said in a televised speech that “some individuals do not like to hear about some of […]

Middle East

Saudi Arabia’s crude oil exports fell in October by 176,000 barrels per day from the month before, despite high production, but its refined products shipments rose as the kingdom expands its refining power, official data showed on Monday. The world’s top exporter shipped 7.636 million barrels per day in October, down from 7.812 million bpd in September, according to data from the Joint Organizations Data Initiative (JODI). […]

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Middle East

ABU DHABI // The majority of Emiratis and Arabs identify themselves by their nation state rather than their religion or Arab identity. These were the results of a survey that were revealed at the Promoting Peace in Muslim Societies forum on Monday. This is a major shift from the past decade when many polls suggested that Arabs saw themselves as “being Arab” more than anything else. The […]

Middle East

An Arab coalition fighting in Yemen said on Monday it would stop using British-made BL-755 cluster munitions in Yemen where thousands of civilians have been killed in 20 months of conflict. “The government of Saudi Arabia confirms that it has decided to stop the use of cluster munitions of the type BL-755 and informed the United Kingdom government of that,” Saudi state news agency SPA reported. The […]

Middle East

ABU DHABI // Pakistan’s ambassador to the UAE said he aims to help deepen bilateral defence and economic ties, particularly through the major new trade route traversing Pakistan to China, the Asian power that is set to become the GCC’s largest trade partner. “We really want to make this relationship more diversified, and deepen and expand it,” said Moazzam Ahmad Khan, who began his tenure as Islamabad’s […]

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World

By Michelle Nichols | UNITED NATIONS UNITED NATIONS African states narrowly failed on Monday for a second time to halt the work of the first U.N. independent investigator appointed to help protect gay and transgender people worldwide from violence and discrimination. The attempt was voted down in the U.N. General Assembly 84 to 77 with 16 abstentions, a month after African states made a similar unsuccessful move […]

Middle East

Global Investment House said on Monday that its Elaj Group unit has concluded partial divestment from Al Borg Medical Laboratories Limited to Investcorp and Boubyan Petrochemical Company. Al Borg is the largest chain of private laboratories in the Middle East and North Africa region, according to its website, with 26 laboratories in Saudi Arabia, four in the UAE, two in Qatar, and one each in Bahrain, Kuwait, […]

Markets

If you are an emerging market investor, things at least look a little rosier than they did 12 months ago. Then sentiment was souring thanks to doubts about China’s economy, a slumping oil price and plenty of political upheaval. There is, of course, much to concern the EM universe going into 2017, notably a rising dollar, the prospect of higher interest rates in the US and president-elect […]

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Companies

Bank also aims to raise interest in Emirati youth to pursue banking and financial careers Dubai, 19 December, 2016 Emirates NBD, a leading bank in the region, has launched a brand new edutainment mobile simulation game, ‘Banki’ in its efforts to promote financial literacy in the UAE. Through its highly engaging and informational interface, Banki will target the nation’s youth to become economically aware at a young […]

Middle East

A senior Saudi cleric and a health ministry official said women should be allowed to work as paramedics and opticians, Saudi newspapers reported on Monday, part of a push to relax strict labour codes in the ultra-conservative kingdom. The government announced an economic reform plan in June that aims to increase the number of women as a proportion of the workforce to 28 percent from 23 percent […]

Newsbox

The deal would send United Nations monitors to observe the evacuation process after consultations with “interested parties,” which means that observers could in theory be turned down by soldiers and militias on the ground. Senior United Nations officials have repeatedly said that they have sought Syrian government permission to be present during the evacuation process, and that they have not received it. Continue reading the main story […]

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Business

By Henning Gloystein | SINGAPORE SINGAPORE Oil prices rose on Monday in anticipation of tighter crude supply going into 2017 following the decision by OPEC and other producers to cut output to prop up prices. Brent crude futures, the international benchmark for oil prices, were trading at $55.57 per barrel at 0401 GMT, up 36 cents, or 0.7 percent, from their last close. U.S. West Texas Intermediate […]

Middle East

The Middle East mobile phone market suffered its third consecutive quarter-on-quarter decline between July and September, according to the latest figures announced by IDC. Shipments in the region totalled 23.8 million units, down 0.7 percent on the 23.9 million units shipped in Q2 and 19.4 percent on the corresponding period last year. IDC said that given that the quarter-on-quarter decline in Q2 was much steeper at 8.5 […]

Middle East

Langham Hospitality Group has signed an agreement with Advanced Hotels Company to manage a luxury hotel in Jeddah, Saudi Arabia, it announced on Sunday. The Langham, Jeddah is located within the downtown district of the city, directly opposite a new shopping complex and with a 360-degree view of the city and the corniche. The hotel will have 239 rooms and 39 suites, as well as an opulent […]

Markets

A series of big events shaped financial markets in 2016. Here is a selection of FT analyses and commentary, alongside charts, highlighting a tumultuous year. The new year rout January proved brutal for investors. After just 10 trading days, global equity markets had lost more than $4tn of value, with sentiment hammered by fears about China’s economic slowdown and a depreciating currency. In turn, bond markets were […]

FT Select

Venezuelans are bracing for Christmas without cash after the country’s highest denomination banknote was withdrawn from circulation with new larger bills not due until January, as many fear that the country is spiralling towards hyperinflation. Embattled President Nicolás Maduro this week announced plans to scrap the ubiquitous 100 bolívar bill, which makes up about half the country’s banknotes but is increasingly worthless as annual inflation is forecast […]

World

ADEN A suicide bomber killed at least 30 soldiers in the southern Yemeni port city of Aden on Sunday, officials there said, a week after an attack by the militant Islamic State group killed 50 troops nearby. The officials said the soldiers were queuing to collect salaries near a military base in the Khor Maksar district when the attacker blew himself up. Forty other troops were wounded, […]

Companies

15 December 2016 The Ajman Real Estate Conference 1, being organized by the Real Estate Regulatory Agency – Ajman [ARRA], the state-run institution mandated with regulating the real estate activities and developments in Ajman, was inaugurated this morning by Sheikh Abdul Rahman bin Ali bin Khalifa Al Khalifa, Director General of Survey and Land Registration Bureau – Bahrain, Sheikh Mubarak Al-Otaibi, prominent business leader – Saudi Arabia […]

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