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22 December 2016 The Capital Market Authority Board has approved the final version of the Parallel Market Listing Rules after the draft was published on the CMA’s website. The Authority ensured in the final draft that it took into consideration all recommendations, observations and opinions, received from investors and specialists, the interested an related parties during the public consultation. These Rules will be effective and enter into force […]

PANAMA CITY: From the Panama Papers to the impeachments of the presidents of Brazil and South Korea, 2016 was a year marked by corruption scandals and by rising public outrage over graft. The question is will that translate into a lasting demand for cleaner politics? “A new phenomenon” is being seen, said Jose Ugaz, a renowned Peruvian lawyer and the chairman of Transparency International, a Berlin-based anti-corruption […]

Gulf stock markets barely moved in quiet, early trade on Thursday before the announcement of Saudi Arabia’s 2017 state budget, expected in the afternoon. The Saudi stock index edged up 0.1 percent in the first 40 minutes. Much activity focused on second-tier stocks such as Saudi Printing and Packaging, up 4.9 percent, although Saudi Electricity rose 0.9 percent. Saudi Electricity’s profits rose in the wake of the […]

The series of scattershot remarks has further unsettled a turbulent period in American foreign policy. It underscores Mr. Trump’s challenge in fashioning a coherent approach to the problems he will inherit in Asia, Europe and the Middle East, especially working with a team that consists of retired generals and an oil executive, few of whom have experience in the daily cascade of crises that confront every White […]

Infrastructure of Berth 5 and Berth 6 at final stages of this year’s strategic expansion 21 December 2016 King Abdullah Economic City, The infrastructure works for Berth 5 and Berth 6 are about to be finished in a few weeks, King Abdullah Port announced on Wednesday. The two berths are part of the port’s strategic expansion plan, which aims to significantly uprate the port’s capacity, thus boosting […]

But by the time Mr. Trump is sworn in next month, such safe zones may be irrelevant, if the evacuation of Aleppo and political negotiations proceed. Continue reading the main story More than a year after launching the air campaign that remade the battlefield in Mr. Assad’s favor, Russia appears to be looking for a way out of the war. Analysts say that Moscow sees in the […]

A Middle Eastern investment banking fee bonanza should extend into 2017, spurred by a combination of bond and share sales and mergers and acquisitions as the region adjusts to lower oil prices, bankers say. Deals such as Saudi Arabia’s $17.5 billion debut international sovereign issue and the sale of a majority stake in retailer Kuwait Food Co (Americana) to Gulf-based Adeptio have helped banks’ earnings, off-setting falls […]

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A merger of German container shipping line Hapag-Lloyd and United Arab Shipping Company (UASC) is likely to take months to complete, partly due to financing issues blamed on a deep industry downturn, sources familiar with the deal say. Hapag-Lloyd signed a binding agreement with UASC in July to form the world’s fifth-largest line, valued at about 7 to 8 billion euros ($7.2-$8.3 billion), by the end of […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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). […]

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 […]

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 […]

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 […]

In 1600, actor William Kemp was challenged to morris dance his way from London to Norwich. He accepted the bet and completed his journey – a distance of about 100 miles – in nine days (spread out over a few weeks). So was born the phrase “nine-day wonder”, to describe someone or something that suddenly gains fame, only to quickly fade from the spotlight. Fame no longer […]

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 […]

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, […]

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 […]

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 […]

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 […]

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Just in:
Kochi police detain two actors over bid to honey trap doctor // After Reaching 7 Million Users in the Philippines, Skyro Launches Transparent Cash Loans in Malaysia // The “1st Greater Bay Area Health and Longevity Summit & Awards Ceremony” concludes successfully in Macao // Xi Jinping Preparing For A Trilateral Summit With Trump And Putin At APEC Summit On Nov 18-19 // CR Longdation Aethereal Cybersecurity × Global Cybersecurity Alliance (GCSA) Join Hands to Establish the “AI and Cybersecurity Research Centre” // Hong Kong mandates crypto transaction disclosures to tax authorities // Ta’ziz finalises $1.39bn funding for Ruwais industrial facilities // Emaar approves Development buyout ahead of planned delisting // APT29-linked campaign exploits outdated Apple and Android software // Trump’s Iran War Has A Share Of Contribution To His Midterm Debacle // Ousted top Kochi cop gets IG post // Oil advances towards $100 as tanker attacks persist // UK air traffic outage inflicted £33m financial losses // Private varsities bill all set to face the axe // e-Crime Bureau Signs Cybersecurity Partnership With Smart Africa, Reinforcing Its Global Expansion // Miss Universe Hong Kong Jen Zhou Departs for Puerto Rico to Compete in the 75th Miss Universe World Final // Millions Of Indians May Soon Be Deprived Of Government Assistance // Cloudflare unveils Zero Wire vulnerability intelligence service // Meraas showcases five residential zones at Dubai Design Week // OpenAI identifies 948 Linux privilege escalation flaws using AI //