A brief period of high profitability for the world’s oil refineries is likely to come to an end as quickly as it began, the International Energy Agency (IEA) said on Friday. Weak crude oil and relatively high prices for gasoline, diesel and petrochemical feedstock have pushed up refining profits sharply over the last six months, helping oil companies cope with much lower profits from upstream production. In […]
A black-market fuel sale in Sana, Yemen, where food and fuel are in short supply because of the fighting. By SOMINI SENGUPTA July 9, 2015 UNITED NATIONS — The Saudi-backed government of Yemen has agreed to a “pause” in fighting, starting Friday, so that humanitarian relief can be delivered in the country, United Nations officials said Thursday. The Houthi rebels who control large parts of Yemen have agreed to […]
Dubai has overtaken other financial centres in listing Islamic bonds on its exchanges, and is mounting a global drive to attract more listings while developing new channels to trade sukuk, the chief executive of Nasdaq Dubai said. “Demand for Islamic financial products still exceeds supply — there are very few financial products for which this is true,” said Hamed Ahmed Ali. The exchange is working on ways […]
JERUSALEM — Robert Turner is recognized everywhere in the Gaza Strip, jokingly called its governor. To most people there, he is known simply as “Mr. Bob.” He departs on Thursday after serving as Gaza director of the United Nations Relief and Works Agency for three years — or, put another way, through two wars between Israel and Hamas, the militant group that controls the coastal enclave. Mr. […]
DUBAI — Three Saudi brothers have been arrested in connection with the suicide bombing of a Shiite mosque in Kuwait last month, the Saudi and Kuwaiti authorities said Tuesday. The attack on June 26 during Friday Prayer killed 26 people, plus the bomber, and was Kuwait’s deadliest militant attack. Two of the suspects, Majed and Mohammed al-Zahrani, transported the explosives across the border into Kuwait in an […]
Saudi Arabia’s sovereign wealth fund is to invest up to $10 billion in Russia over the next five years, in a move signalling a thawing in relations between the two countries. Saudi Arabia’s Public Investment Fund (PIF), the country’s sovereign wealth investment vehicle, agreed on Monday to invest $10 billion over the next five years approximately in the Russia Direct Investment Fund (RDIF), a government-run investment fund. […]
LONDON — Last week, the State Department announced the resumption of “security assistance” to Bahrain. This ended a four-year ban on the transfer of arms that the United States put into effect in 2011, after the Bahraini government’s harsh crackdown on Arab Spring protests. In a statement, the State Department argued that Bahrain had made enough progress in human rights reform to be rewarded by ending the […]
UAE. Non-oil private sector firms in the UAE reported the weakest improvement in business conditions since August 2013 during June. Marked slowdowns in growth of output and new business were at the forefront of the overall deceleration, while employment continued to rise at a solid pace. Meanwhile, inflationary pressures from both input costs and output charges were negligible. The survey, sponsored by Emirates NBD and produced by […]
|TAP Staff| Iran’s oil biggest shipping company has amassed the world’s largest fleet of super tankers and is in talks to sail back into western waters should the Islamic Republic strike a nuclear deal, according to senior officials, the Wall Street Journal reported. The report quotes privatised Iranian shipping company NITC as saying it has 42 very large crude carriers, known as VLCCs, after buying 20 such […]
ME property market among world’s fastest growing NEW DELHI, 2 days ago Middle East real estate market revenues have augmented at a compounded annual growth rate (CAGR) of 4.7 per cent between 2009 and 2014, making it one of the fastest growing sectors across the world, a report said. Foreign real estate developers have infused billions of dollars into places such as Oman, Qatar, Dubai (UAE), Saudi […]
Saudi Arabia … expanding population base ofbrand-conscious consumers.Image: Bigstockphoto. For illustration only. Mall rental rates curbing retail growth in Saudi DUBAI, 2 days ago High rental rates in the top-tier malls are deterring the growth of Saudi Arabia’s retail market, a report said, noting that the kingdom is currently facing a great challenge due to scarcity of human resources owing to high attrition rates. Availability of substitute […]
INTERNATIONAL. Greece’s seeming hour-by-hour descent into chaos at the end of the second quarter has fashioned an intensely uncertain framework casting markets at the mercy of headline risk. It is with that ever-changing caveat that Saxo Bank publishes its Q3 Outlook ahead of the Greek referendum on EU membership which, as things stand, will take place July 5. The outlook for Q3, therefore hangs in the balance, […]
Saudi Arabia … expanding population base ofbrand-conscious consumers.Image: Bigstockphoto. For illustration only. Mall rental rates curbing retail growth in Saudi DUBAI, 15 hours, 58 minutes ago High rental rates in the top-tier malls are deterring the growth of Saudi Arabia’s retail market, a report said, noting that the kingdom is currently facing a great challenge due to scarcity of human resources owing to high attrition rates. Availability […]
UAE. According to EY’s report ‘How will the GCC close the skills gap?’, employers struggle to retain nationals due to high salary expectations; however, these employers rank young people’s lack of work experience (53%), communications skills (36%), and required skills and qualifications (22%) as further challenges to retention in the private sector. Three quarters of GCC employers feel the education system doesn’t know what skills employers need. […]
BEIRUT, Lebanon — A Saudi prince pledged on Wednesday to give away his entire $32 billion fortune to charitable causes in Saudi Arabia and elsewhere in the world. The prince, Alwaleed bin Talal, said the funds would go to his charity, Alwaleed Philanthropies, for causes like disease eradication, intercultural understanding, women’s empowerment, disaster relief and the electrification of isolated areas. The new pledge by one of the […]
|TAP Special| Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of the Board of Trustees of the Alwaleed Philanthropies, announced his intention to donate all of his wealth to philanthropy over the coming years to help build a “better world of tolerance, acceptance, equality and opportunity for all.” This $32 billion philanthropic pledge will help build bridges to foster cultural understanding, develop communities, empower women, enable youth, provide […]
Open Source By ROBERT MACKEY Apparently undeterred by the backlash over its last venture into cartoon diplomacy, Israel’s government released an animated video on Tuesday that equates the threat from Islamic State militants to that of a nuclear-armed Iran. The 28-second animation, uploaded to Prime Minister Benjamin Netanyahu’s official accounts on social networks, attempts to erase the distinction between the Sunni Muslim extremists of the Islamic State […]
Dubai real estate developer Limitless has taken a step closer to securing a second restructuring on debt outstanding from Dubai’s property crash six years ago. It said on Monday it would repay 2.07 billion dirhams ($564 million) to creditors and has won the approval of almost 90 percent of banks to extend its remaining debt to December 2018. Limitless is seeking to follow in the footsteps of […]
French attack suspect admits to killing his boss – source Full Article Iran, big powers plan to keep negotiating beyond June 30 Full Article SpaceX rocket supplying space station explodes after Florida launch Full Article Monsoon covers entire India ahead of schedule – weather office Full Article Bad weather, rugged terrain caused U.S. chopper crash in Nepal – army Full Article Kuwait says mosque bomber was Saudi, detains driver Full Article Video: […]
BEIRUT, Lebanon — Kuwait has identified the bomber who carried out a deadly suicide attack in a Shiite mosque as a citizen of Saudi Arabia who arrived in the small Persian Gulf nation just hours before blowing himself up, the Kuwaiti Interior Ministry said on Sunday. Kuwaiti authorities also arrested a local man who had driven the car that dropped the bomber off and the Kuwaiti owner […]
VIENNA — Iran’s top nuclear negotiator was heading back to Tehran on Sunday to consult with his nation’s top leadership, as negotiators remained divided over how to limit and monitor Tehran’s nuclear program and even on how to interpret the preliminary agreement they reached two months ago. With all sides now acknowledging the talks would need to continue beyond what was once considered the absolute deadline for […]
BEIRUT, Lebanon — Thousands of Kuwaitis, both Sunnis and Shiites, marched Saturday in a funeral procession for the 27 victims of a suicide bombing at a Shiite mosque during communal prayers the day before, an attacked claimed by the jihadists of the Islamic State group. The Kuwaiti authorities were questioning a number of people to determine whether they were connected to the plot, and the Interior Ministry […]
Sophisticated attacks by an Islamic State branch in Saudi Arabia show the jihadist group is better established there than previously suspected, and that fueled by anger over Arab civil wars, Riyadh’s militancy problem is not going away. A sustained militant campaign could undermine stability in the world’s top oil exporter and birthplace of Islam, one of the few major Arab states that has so far mostly avoided […]
French attack suspect admits to killing his boss – source Full Article Iran, big powers plan to keep negotiating beyond June 30 Full Article SpaceX rocket supplying space station explodes after Florida launch Full Article Monsoon covers entire India ahead of schedule – weather office Full Article Bad weather, rugged terrain caused U.S. chopper crash in Nepal – army Full Article Kuwait says mosque bomber was Saudi, detains driver Full Article Video: […]
