Dubai, 12 February 2017 Emirates NBD (DFM: EmiratesNBD), a leading bank group in the region, held its tenth Annual General Meeting (AGM) at the Bank’s Headquarters. At the AGM, a review of the year ended 31st December 2016 was presented. Commenting on the business environment, Emirates NBD Chairman, His Highness Sheikh Ahmed Bin Saeed Al Maktoum, said, “The UAE continues to stand out as a resilient and […]
AMMAN Syria’s main opposition body on Sunday approved a new delegation to take part in Geneva peace talks later this month, which include Russian-backed blocs that have been critical of the armed insurgency against President Bashar al-Assad. The High Negotiation Committee, (HNC) the main umbrella group, said in a statement after two-days of meetings in the Saudi capital, Riyadh, that the new 21-member negotiating team included members […]
RIYADH U.N. Secretary-General Antonio Guterres said on Sunday the U.N. envoy to Yemen had his full support, days after Yemen’s Houthi group asked him not to renew the diplomat’s term due to what it said was bias against the Iranian-aligned movement. “Our envoy has my full support and I believe that he is doing an impartial work, that he is doing it in a very professional way […]
ISTANBUL President Tayyip Erdogan said on Sunday the final goal of a Turkish incursion into Syria was not just to retake the city of al-Bab from Islamic State, but to cleanse a border region including Raqqa of the jihadists. Turkish-backed Syrian rebels are pressing a major offensive on al-Bab, 30 km (20 miles) south of the Turkish border. The advance risks putting them in direct conflict with […]
Opec countries drastically curbed their output in the first month of their new production agreement, in the clearest sign to date that the world’s biggest oil producers are committed to living up to the November pact to cut global supplies. The limits adopted by the oil cartel in January have been “one of the deepest in the history of Opec output cut initiatives”, the International Energy Agency […]
Mr. Kushner, on something of a crash course in diplomacy, has been speaking with Arab leaders in recent weeks. But he is a mystery to most Middle Eastern officials. He has no experience in government or international affairs. His up-close exposure to the Arab world amounts to little more than trips to a handful of Persian Gulf countries and a star-studded jaunt to Jordan. Continue reading the […]
Gulf countries are forecast to drive the bulk of 2017 sovereign debt issuance, followed by Latin America, according to Bank of America Merrill Lynch. Its latest GEMs Macro Monthly report said it expects Saudi Arabia, Argentina, Qatar and Kuwait to be the largest gross and net debt issuers in 2017. It said these four issuers could account for 37 percent of the total sovereign gross issuance. Among […]
Qatar Petroleum is the hidden giant of the global energy industry, overshadowed by its neighbor Saudi Aramco. Yet, the country’s colossal natural gas resources allow the state-run company to pump more oil and gas than Rosneft PJSC or Exxon Mobil Corp. After almost two decades of breakneck growth, the company needs to change tack. QP plans to expand abroad as domestic crude output declines and the government […]
MOSCOW Russia will decided in April or May whether an agreement on global oil output cuts between OPEC and non-OPEC producers, set to end on June 31, should be extended, TASS news agency quoted Russian Energy Minister Alexander Novak as saying on Saturday. Novak also said that he planned to meet his Saudi Arabia counterpart Khalid al-Falih during the CERAWeek energy conference in Houston in March. (Reporting […]
A Foreign Ministry spokesman, Bahram Qassemi, said on Thursday, “It is a shame that the U.S. government, instead of thanking the Iranian nation for their continued fight against terrorism, keeps repeating unfounded claims and adopts unwise policies that are effectively helping terrorist groups.” Continue reading the main story Mr. Flynn also made clear that the challenge to Iran extended beyond the missile test, holding Tehran responsible for […]
Dr. Abushamma’s case was highlighted at a hearing in Federal District Court in Brooklyn on Thursday, where Judge Carol B. Amon extended until Feb. 21 the initial ruling — formally known as a stay of removal — issued last week by her colleague, Judge Ann M. Donnelly. Continue reading the main story Judge Amon will be presiding over the case and deciding on the legal issues underlying […]
Domestic consumption of desalinated water in the region is not only carbon-intensive but contributes to making the Arabian Gulf one of the world’s most salty and potentially most uninhabitable bodies of water, experts say. According to the Ministry of Climate Change and Environment, 96 per cent of domestic consumption of water – from drinking water to showers – comes from one of the 70 desalination plants located […]
ABU DHABI // Tensions between the UAE and Iran escalated on Thursday after the Iranian charge d’affaires was summoned by the Ministry of Foreign Affairs and International Cooperation. Dr Abdulrahim Al Awadi, the ministry’s assistant minister for legal affairs, handed him a note of protest on “Iran’s illegal provision of weapons to the coup militia against the legitimacy in Yemen”. “Iran’s move is in violation of United […]
Designs have been unveiled for largest tertiary children’s hospital, the largest hospital of its kind in the world, which is to be built in Kuwait. Design firm SSH was appointed by Kuwait’s Ministry of Health and Ministry of Public Works last year, with the project being undertaken by SSH in association with global architects HKS and engineering firm WSP. The hospital will feature a total of 792 […]
Donald Trump’s administration declared that it was putting Iran “on notice” on Wednesday, signalling both a tougher US line with Tehran and a new test of relations after a weekend missile test by the Islamic republic. During his campaign, Mr Trump vowed to rip up a 2015 nuclear deal negotiated by the Obama administration and other world powers with Tehran but has taken no public steps to […]
By Steve Holland | WASHINGTON WASHINGTON A top adviser to President Donald Trump delivered a tough warning to Iran on Wednesday for test-firing a ballistic missile and declared “we are officially putting Iran on notice” for what he called a provocation. A statement from White House national security adviser Michael Flynn condemning the test was an example of a more muscular U.S. foreign policy that Trump has […]
Dubai Islamic Bank, the largest sharia-compliant bank in the United Arab Emirates, has appointed banks ahead of a potential benchmark-sized US dollar sukuk sale, banking sources familiar with the situation said on Wednesday. The group of banks arranging the deal includes Bank ABC, Boubyan Bank, Emirates NBD, HSBC, Maybank, National Bank of Abu Dhabi, Sharjah Islamic Bank and Standard Chartered, the sources said, speaking on condition of […]
The UAE’s non-oil foreign trade totalled AED1.172 trillion ($320 billion) for the first nine months of 2016, up by 0.1 percent on the same period in the previous year. Preliminary data of the Federal Customs Authority (FCA) indicated that the share of imports in the UAE’s total non-oil trade amounted to AED721.2 billion, a rise of 1 percent. Native gold and semi-processed gold topped the list of […]
The oil industry is zeroing in on a prospective tax shift in Washington that has the potential to upend energy flows around the world. The “border adjustment tax” (BAT) put forth by Republican lawmakers and embraced sporadically by President Donald Trump would radically change the way companies are levied, taxing imports and exempting exports in the world’s biggest economy. While the Trump administration’s stance on BAT has […]
Uber’s self-driving car ambition just got another boost after it signed on the German automaker Daimler in an initiative to develop automated vehicles for its ride-hailing network. Looking at the announcement, however, one is left wondering if the partnership could really lead Uber to build a driverless car on its own. Uber’s Role Uber CEO Travis Kalanick stated that, here, Uber is not going to be involved […]
WASHINGTON: Iran’s ballistic missile launch on Sunday was Tehran’s “first litmus test” for the Donald Trump administration as much as it was a regional show of force, according to experts.With the launch coming just nine days into the Trump presidency, Iran-watchers expect the new administration to respond through the different levers at its disposal.A more aggressive retaliation could, however, backfire, and lead to an unintended escalation in […]
The three largest Omani banks – BankMuscat, Bank Dhofar and National Bank of Oman – face pressure on profitability from slowing economic growth and increased demand for Islamic finance, Moody’s warned on Tuesday. Growing appetite for Islamic finance is intensifying competition for products and placing the banks under pressure, a report from the rating agency argued. However, it added that BankMuscat, Oman’s largest bank by assets, was […]
Written by Anees Jillani | Published:February 1, 2017 12:31 am Pakistani Prime Minister Nawaz Sharif (File Photo) Since January 4, a five-member Bench headed by the second seniormost judge of the Supreme Court of Pakistan has been hearing for three hours every day petitions alleging corruption by Prime Minister Nawaz Sharif, filed by the chairman of the Pakistan Tehreek-e-Insaaf (PTI) Imran Khan, and the head of the […]
BD 1.2 million (US$3.2 million) net profit for the three months ending 31 December, 2016 BD 4.3 million 2016 profit as customer base nears one million milestone BD 1.2 million (US$3.2 million) net profit for the three months ending 31 December, 2016 Manama – 31 January, 2016 Zain Bahrain (Ticker: ZAINBH), a telecom innovator focused on enhancing customer experience, reported a 22% surge in its customer […]
RIYADH The top U.N. humanitarian official in Yemen said on Tuesday he feared for the lives of civilians in two Red Sea coast cities where Yemeni government forces and their Gulf Arab backers are on an offensive to oust Iran-allied Houthi militia. Coalition-supported Yemeni army forces advanced northward into al-Mokha and Dhubab last week in a bid to deprive the Houthis of strategic Red Sea ports. “I […]
DUBAI // “Bubble babies” at risk from the slightest infection as a result of rare genetic conditions will soon benefit from treatment unveiled at the Arab Health Congress on Tuesday. Gene therapy will provide a lifeline for young children in the Middle East, which suffers from the highest rates of genetic diseases in the world. The process involves ineffective genes copied and replaced in a patient’s body […]
Dubai-based Majid Al Futtaim on Tuesday reported a 9 percent increase in group revenues to $8.14 billion (AED29.9bn) in 2016 compared to $7.43bn (AED27.3bn) in 2015. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 8 percent, reaching $1.11bn (AED4.1bn), driven by additional hypermarkets, supermarkets and family entertainment centres. Alain Bejjani, Majid Al Futtaim Holding CEO, said the company will continue on its growth trajectory in […]
By Praveen Menon and Pairat Temphairojana | KUALA LUMPUR/BANGKOK KUALA LUMPUR/BANGKOK Seeking to capitalise on U.S. President Donald Trump’s controversial new travel restrictions, companies and officials in Asia said they would target greater tourism and education ties with Muslims worried about the curbs. Trump’s Friday directive put a 120-day hold on allowing refugees into the country, an indefinite ban on refugees from Syria and a 90-day bar […]
Your daily guide to community and cultural activities across the Emirates for January 31, 2017, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. newslide Abu Dhabi Fitness offer Bodytree Studio will celebrate Valentine’s Day throughout February with Bring a Buddy to Bodytree, which offers two-for-one prices for drop-in classes, including all morning yoga classes, from Sundays to Thursdays […]
President Donald Trump has attacked airlines, the media and Democrats over the protests and criticism of his administration that emerged over the way he executed a ban on people from seven Muslim-majority nations entering the US. In a series of tweets and comments at the White House, Mr Trump tried to shift the blame for the chaos that ensued after more than 100 refugees and migrants from […]
