|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 […]
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 […]
BEIRUT, Lebanon — Terrorists attacked sites in France, Tunisia and Kuwait on Friday, leaving a bloody toll on three continents and prompting new concerns about the spreading influence of jihadists. In France, attackers stormed an American-owned industrial chemical plant near Lyon, tried unsuccessfully to blow up the factory, and left behind a decapitated corpse. In Tunisia, at least one gunman disguised as a vacationer opened fire at […]
GCC construction … buoyant. GCC construction sector in major growth phase DUBAI, 1 days ago The GCC construction industry foresees growth for the next three years, encouraged by factors such as favourable macroeconomics, positive demographics, and rising tourism activities, said an industry expert. “Higher budget allocation towards construction sector, as part of the strategic vision of the member nations, lends an added push to the industry,” added […]
WASHINGTON — The State Department issued a dismal assessment of Iran’s record on human rights on Thursday, saying that the Iranian authorities had stifled dissent and engaged in “unlawful killings.” The assessment, part of a broad overview of human rights practices around the world, was published one day before Secretary of State John Kerry is to leave for Vienna to try to conclude a nuclear accord with […]
UAE. The latest Towers Watson survey on Health Benefits reveals that employers are investing more in the health of their employees as many Gulf Co-operation Council (GCC) countries have implemented new legislation and amendments to laws that deal with mandates for employee healthcare coverage. These changes are already in effect or will come into effect in phases over the next few years and will implicitly impact employers. […]
As the civil war in Yemen continues, many families say they are living in constant fear. Parents say that their older children have been wetting their beds at night, and that younger ones are so traumatized that they are sent running for cover by the sound of a door slamming. The fighting between Houthi rebels and Saudi-backed government forces has displaced a million people, destroyed cultural heritage […]
SANA, Yemen — For nearly three months, Saudi Arabia, along with its allies, has been bombing Yemen, its southern neighbor, hoping to force the retreat of Shiite rebels who have seized major cities and to return the country’s president from the Saudi guest mansion where he lives to the presidential palace. So far, it has not worked. The rebels, known as the Houthis, have gained ground, more […]
UAE. The latest Crédit Agricole Private Banking research report, ‘Macro Comment – MENA Update’, noted that the UAE and Saudi Arabia continues to witness growth despite lower oil prices. The UAE even recorded high levels of job creation during this period. “Interestingly in the UAE, once again new orders and new export orders components reflected strong growth, while job creation hit a three-month high. This is reflected […]
|By K Raveendran| There is much hype about the opening up of the Saudi stock market, but any detached view is least supportive of optimism. The more realistic assessment is based on the fact that the market has already factored in the positivity and moved too far ahead in the expectation of large foreign inflows, making the market expensive for any new entrants. According to the assessment […]
Saudi leaders, whose portraits are displayed at the stock exchange in Riyadh, have not confirmed the leak’s authenticity. By BEN HUBBARD June 20, 2015 BEIRUT, Lebanon — It seems that everyone wants something from Saudi Arabia. Before becoming the president of Egypt, Mohamed Morsi wanted visas to take his family on a religious pilgrimage. A Lebanese politician begged for cash to pay his bodyguards. Even the state news agency […]
Non-oil to drive ME economies to 5pc growth DUBAI, 3 days ago Middle Eastern economies are anticipated to witness around five per cent growth this year due to the gradual shift in investment to non-oil sectors, a report said. However, implementing pragmatic macroeconomic policies to stabilise global oil prices at $50 to $60 per barrel is likely to remain a key challenge to revenue growth, added the […]
