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Middle East

ABU DHABI // National Service recruits and volunteers have come away from military training with greater discipline, patience, appreciation for those serving in the Armed Forces, and life-long friends. After months of physical and technical training at Armed Forces’ National Service centres across the country, Emirati conscripts said the time in service had had a profound effect on their physiques, attitude and outlook. Hadi Al Badi, a […]

Markets

Oil producers are moving closer towards agreement on extending the Opec-led deal to limit output, Saudi Arabia’s energy minister said on Thursday, as the cartel battles excess stockpiles and a resurgent US shale industry that have weighed on prices. Khalid al-Falih said the deal could be run for another three to six months beyond the end of June. Under the terms of the existing accord, Opec members […]

Middle East

Three Lines Shipping, a UAE-based transportation and logistics company, is looking for an investor to help boost its regional expansion and grow its brand, CEO Rafeeq KK has said. An investment of between $15-20 million is expected for a majority stake depending on the type of investor, he said in a statement. TLS said it is looking for an investor with good understanding of the business and […]

Middle East

ABU DHABI // Etihad Airways will donate one dirham from every flight ticket sold in the UAE this year towards the UAE’s Year of Giving causes, the airline announced yesterday. The move is one of many initiatives by Etihad Aviation Group, including free cargo space for humanitarian causes. Each month, the airline will donate proceeds to Emirates Red Crescent’s local and international projects, including For Your Sake, […]

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April 21, 2017 by: Anjli Raval, Oil and Gas Correspondent Oil was set for the biggest weekly drop in a month as market confidence in Opec’s ability to overpower a resurgent US shale industry wavered. US benchmark West Texas Intermediate fell below $50 a barrel on Friday — down $1.32 to $49.39 — by 6.45pm in London. The global Brent marker dropped $1.24 to $51.75 a barrel. […]

Politics

DOHA: Qatari citizens held hostage in Iraq by unidentified gunmen since 2015 have been freed and handed over to the Iraqi interior ministry, Qatar-based al-Jazeera reported on Friday.The satellite channel gave no further details on the release of the hostages, who were seized by gunmen in December 2015 while on a hunting trip near the border with Saudi Arabia.An Iraqi security official later said Iraq would hand […]

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Middle East

Dubai-based retailer Marka has announced that it is opening the first Reem Al Bawadi outlet in Abu Dhabi as part of its ongoing expansion plans for its flagship brand. The new restaurant brings Reem Al Bawadi to Dalma Mall and will offer a total capacity of 243 covers, with 111 seats inside and 132 seats outside. The venue, which will open this spring, also features a TV […]

Middle East

ABU DHABI // Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, held bilateral talks with Russian president Vladimir Putin in Moscow on Thursday to discuss efforts to bring about an end to conflicts in the region as well as increasing security cooperation and economic ties. The UAE is Russia’s closest partner in the GCC, and Moscow has […]

Politics

CAIRO: US Secretary of Defense Jim Mattis arrived in Cairo Thursday on the latest leg of a regional tour, as ties with Egypt continue to warm under President Donald Trump.After touching down at Cairo airport, Mattis set off to meet President Abdel Fattah El-Sisi, who was hailed by Trump during a White House visit earlier this month.Sissi’s visit marked a shift in relations after Trump’s predecessor Barack […]

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Investing

Following years of acrimony between OPEC and the hedge fund community, which the cartel dismissed simply as “speculators”, things suddenly changed in 2016 when the two groups got so close, there were outright reports of collusion between the two on various occasions. We documented this last month in “Why OPEC Is Colluding With Hedge Funds.” However, as Reuters’ energy analyst John Kemp pointed out on twitter this […]

Business

ABU DHABI Kuwait’s oil minister Essam al-Marzouq said on Thursday he expected a global pact to cut oil supplies to be extended beyond June, supported by higher compliance from non-OPEC producers. “We have a noticeable increase in compliance from non-OPEC which shows the importance of extending the agreement,” Marzouq told an industry event with other Gulf oil ministers including Saudi Arabia’s energy minister Khalid al-Falih in Abu […]

World

By Lesley Wroughton | WASHINGTON WASHINGTON U.S. Secretary of State Rex Tillerson on Wednesday accused Iran of ‘alarming ongoing provocations’ to destabilise countries in the Middle East as the Trump administration launched a review of its policy towards Tehran. Tillerson told reporters the review, which he announced on Tuesday, would not only look at Tehran’s compliance with a 2015 nuclear deal but also its behaviour in the […]

Business

LONDON OPEC plans to meet with non-OPEC oil producers on the same day as its scheduled May 25 conference, sources familiar with the arrangements said, as they decide whether to extend supply cuts into the second half of the year. Ministers from the Organization of the Petroleum Exporting Countries will convene at their Vienna headquarters. Joint talks with non-OPEC oil ministers will also take place that day, […]

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Companies

19 April 2017 Jeddah, Kingdom of Saudi Arabia The Islamic Development Bank (IsDB) and the Federal Republic of Nigeria have discussed potential collaboration in Science & Technology, innovation and food security. The discussion took place at the IsDB headquaters led by Mr. Sayed Aqa, IsDB Vice President, Cooperation and Country Programming, with Chief Ogbonnaya Onu, Nigeria’s Minister of Science & Technology. “IsDB is scaling up in the […]

Middle East

For the few who might not be familiar with the business, what’s the story behind Aldar? Aldar was founded just over a decade ago in 2005, and is now the leading real estate lifestyle developer in Abu Dhabi. Since we began, we have always pushed boundaries, resulting in some of Abu Dhabi’s most iconic real estate projects. Our business focuses on two main areas – real estate […]

Middle East

Terrorism and declining oil prices affected the regional hospitality sector especially in Saudi Arabia, Turkey and Egypt, according to Mark Willis, Vice president Middle East and sub-Saharan Africa, Carlson Rezidor Hotel Group. Willis is however optimistic about the results of the Saudi economy during the first quarter of 2017 while stressing that the most difficult performance for their Radisson Blu hotels was in Turkey and Egypt. “We […]

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World

RIYADH British Prime Minister Theresa May called for an investigation into reports of a chemical weapons attack in northern Syria on Tuesday. “I’m appalled by the reports that there’s been a chemical weapons attack on a town south of Idlib, allegedly by the Syrian regime,” May said while visiting Saudi Arabia. “If proven, this will be further evidence of the barbarism of the Syrian regime.” She urged […]

World

The ‘Panama Papers‘ scandal was one of the biggest data leaks in history. But a year on from the exposé by the International Consortium of Investigative Journalists (ICIJ), it appears to be simply ‘business as usual’; as few governments have meaningfully tackled the issues of tax avoidance and evasion. Unparalleled leaks The leak was huge. It contained 11.5 million documents, and named more than 200,000 companies, 14,153 clients in […]

Markets

For traders trying to decipher if Opec’s output cuts are finally tightening the oil market, the evidence may lie out at sea. Data provided to the Financial Times show that crude oil being shipped over the oceans or stored on supertankers has dropped by as much as 16 per cent since the beginning of the year, in a signal that supplies could be dropping faster than many […]

Newsbox

Benjamin J. Rhodes, who was a foreign policy adviser to President Barack Obama, wrote on Twitter: “Kushner in Iraq before the National Security Advisor or Secretary of State. Totally normal.” Continue reading the main story That was not the only way the trip broke with usual government practice: On Sunday evening, as word of Mr. Kushner’s trip began to spread, the White House incorrectly told reporters on […]

Newsbox

That big hug was just what Mr. Sisi’s government sought, said Eric Trager, a scholar on Egypt at the Washington Institute for Near East Policy. “It wants to see the White House legitimate it, and set it on a new course.” Continue reading the main story The scene provided a powerful counterpoint to Mr. Sisi’s many critics, in Egypt and abroad, for whom he is known as […]

Companies

Abu Dhabi, 2 April 2017: Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has been named the Best Islamic Financial Institution in the UAE by Global Finance Magazine, one of the world’s leading finance and banking publications. Now in its 10th edition, the Global Finance Magazine awards are bestowed on banks that provide best in-class Shariah-compliant banking services and solutions, utilize modern and efficient channels to […]

Arts & Culture

Some of the region’s leading female filmmaking talent gathered at the film and TV industry trade show Cabsat at Dubai World Trade Centre last week to talk about their careers and the challenges they face. They were assembled by ­Japanese camera ­manufacturer Canon to help promote the local launch of its new C700 ­cinecamera. Encouragingly, none of those we spoke to felt they had been passed over […]

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Investing

Authored by Giulio Meotti via The Gatestone Institute, British multiculturalists are feeding Islamic fundamentalism. Muslims do not need to become the majority in the UK; they just need gradually to Islamize the most important cities. The change is already taking place. British personalities keep opening the door to introducing Islamic sharia law. One of the leading British judges, Sir James Munby, said that Christianity no longer influences […]

Middle East

ABU DHABI // Abu Dhabi has pushed ahead with a construction programme that began before crude prices slumped in 2014. From a branch of the Louvre museum in Paris, a new airport terminal and a nuclear power plant, here are the 10 biggest projects under way in the emirate. With a combined value of Dh134 billion they are expected to be completed by 2020, according to a […]

Companies

Kuwait City, April 1st 2017: KAMCO Investment Company, a leading investment company with one of the largest AUMs in the region, acted as the acquisition advisor to Qurain Petrochemical Industries Company KSCP (“QPIC”) on the acquisition of 20.5% of National Petroleum Services Company KSCP (“NAPESCO”). The transaction has been successfully completed throughout multiple stages that was initiated in the third quarter of 2016 and finalized in March […]

Middle East

Ecommerce platform MallfortheWorld has announced that consumers in the UAE, Saudi Arabia and Qatar will now have access to more than 150 of US retailers through its app, marking its first foray into the Middle East.  MallfortheWorld said in a statement that its cross platform app, with both desktop and mobile versions available, will launch in other Gulf countries by the end of the year. The website […]

Arts & Culture

Your daily guide to community and cultural activities across the Emirates for April 2, 2017, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. Ellen Fortini rounds up 10 things to do today in the UAE. Want to see your event listed here? Email us with the details and contact information at [email protected] newslide Abu Dhabi #YearofGiving Donate pre-loved […]

Middle East

DUBAI // Three men were sentences to life for possessing almost four million illegal amphetamine tablets. On July 12 of last year, a 43-year-old from Saudi Arabia and two Syrians were arrested by Dubai Police’s anti-narcotics department in a sting operation after the authorities were tipped off that the men possessed a large quantity of drugs. “We received information that the Saudi man was part of a […]

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