ABU DHABI // Even though Sunday was a working day, there was a holiday atmosphere on Yas Island where thousands of fans flocked to the big race. Marie Jacob, 35, from South Africa, travelled from Dubai with her friends to watch the race, arriving about 3pm. “I am too excited and it’s one of the most thrilling races in the world,” she said. Ms Jacob has been […]
Hotel demand will outpace supply by 2020, according to STR’s client relationships director Sarah Duignan. She made the pronouncement at the Accommodating growth in the Middle East presentation at the Hotelier Express Summit 2016, held on November 23 in Dubai. Duignan said Middle East hotels’ revenue per available room (RevPAR) levels had peaked in October 2009 at AED1,300 ($353.9) and today current average rates over the last […]
Here are the big questions we are asking at FT Markets into the week when the calendar flips over into December. Will Opec deliver a meaningful production cut? All eyes are on Vienna and Opec’s annual gathering with a keenly awaited decision on production levels. An Opec deal on Wednesday that delivers a concrete supply reduction of at least 1m barrels a day, with non-members such as […]
First Avenue, the new shopping mall and hotel planned for Dubai’s Motor City, has signed up leading retailer Carrefour as a key anchor tenant ahead of the project’s launch early next year. Carrefour, owned by Majid Al Futtaim, will open the new store in First Avenue while other major retailers are set to be announced for the AED500 million project’s launch during the first quarter of next […]
DUBAI Iran may seek to set up naval bases in Yemen or Syria in the future, as distant footholds might be more valuable militarily than nuclear technology, the chief of staff of the Iranian armed forces said in remarks published on Sunday. “We need distant bases, and it may become possible one day to have bases on the shores of Yemen or Syria, or bases on islands […]
“We have lost everything, our infrastructure, and we have nothing left to lose,” he said. “Now it is a long war of attrition.” Photo A nonfunctioning cement factory in Amran, Yemen, that was bombed twice by the Saudi-led coalition. Credit Tyler Hicks/The New York Times The Houthis’ control of such key territory has made them essential to international efforts to end the conflict, leaving policy makers and […]
Dubai, November 27, 2016: Al-Futtaim has announced the appointment of Dr. Hayan Sayed as Chief Executive Officer of Al-Futtaim Engineering and Technologies. Part of Al-Futtaim Group Real Estate, Al-Futtaim Engineering is a multi-disciplinary engineering organisation operating across UAE, Qatar and Saudi Arabia with over 30 years of successful operations. Al-Futtaim Technologies is a leading Converged Systems Integrator and provides complete business solutions to large, medium and small […]
As mourners carried the coffin of a slain Hezbollah commander, they moved quickly to wipe away blood still dripping from his body — it had been washed in haste as it was rushed from the battlefields of Aleppo to its final resting place in Lebanon. While Russian war planes and bombs have dominated headlines about outside intervention in Syria’s five-year conflict, thousands of those fighting on the […]
25 November 2016: Gulf International Bank (GIB) last night revealed its new corporate identity coinciding with the bank’s 40th anniversary celebrations. The unveiling of the new identity was shared with officials at a special ceremony in the Kingdom of Saudi Arabia, Riyadh. The new brand identity reflects the core of the bank’s new strategy and its board’s vision for the bank to be the preferred financial services […]
By Karin Strohecker | LONDON LONDON Turkey’s rapprochement with Russia has not changed Ankara’s position that Syrian President Bashar al-Assad must go to restore peace in the country, Turkish deputy prime minister Numan Kurtulmus said on Saturday. Russia is Assad’s main military backer while Turkey backs the rebels fighting to oust him in the six year old conflict. “We are in the same position, Assad has committed […]
By Steve Holland and John Whitesides | WASHINGTON WASHINGTON Republican presidential front-runner Donald Trump made a surprise closed-door visit to the Republican National Committee on Thursday after a tumultuous two days on the campaign trail that included a reversal of his pledge to support the party’s nominee. Trump, who is also struggling to contain the fallout from his Wednesday comment that women who have abortions should be […]
Iraq’s prime minister said the country is willing to cut some of its own production, in a move that could smooth the way to a supply deal when Opec, the oil cartel, meets next week. Haider al-Abadi said Iraq would “shoulder responsibility” for some of the planned reductions of the 14-member group’s output to bolster the oil price, according to comments reported by Reuters. The price of […]
This transcript has been automatically generated and may not be 100% accurate. … our coalition is on the office … I so is on the offensive Anais is going to use … the only one up … with our allies and partners where to degrade and ultimately destroy … the search … the resolution resubmitted today does not … call for one of yours ground combat forces […]
This transcript has been automatically generated and may not be 100% accurate. … the state of disarray themes the unusual even for that nasty region … that all risk and peril and President Barack Obama is policy dreams … and leaving him with limited ability to control events joining us this cost is the Journal’s Washington D C bureau chief … Jerry side … Gerri thank you […]
By Henning Gloystein | SINGAPORE SINGAPORE Oil prices fell over 1 percent on Friday, dragged by a strong dollar, rising Saudi supplies to Asian clients, and a fall in Chinese imports. Brent crude futures were trading at $48.42 at 0753 GMT, down 58 cents, or 1.2 percent, from their last close, although overall activity was thin after the U.S. Thanksgiving holiday and ahead of the weekend. U.S. […]
Amazon.com Inc is reportedly in talks to acquire Dubai-based online retailer Souq.com for about $1 billion, it was reported on Thursday. Bloomberg reported that the deal will give the US-based e-commerce giant a footprint in the high-growth Middle East market, citing people familiar with the matter. It said Amazon is considering a bid for all of the site, which had initially planned to sell a stake of […]
Gulf governments are increasingly turning to export credit agencies (ECAs) to finance billions of dollars of infrastructure projects as low oil prices squeeze liquidity in the region. Bankers say that since oil prices fell more than two years ago, eroding state revenues and drying up funding from local and international banks, borrowers are considering ECA finance for everything from airports to oil refinery expansion. The extent of […]
Video Suicide Bomber Kills Dozens in Iraq At least 80 people, many of them Shiite pilgrims visiting from Iran, were killed when a suicide bomber detonated a truck packed with explosives at a service in the southern city of Hilla on Thursday. Publish Date November 24, 2016. Photo by Alaa Al-Marjani/Reuters. Watch in Times Video » ERBIL, Iraq — At least 80 people, many of them Shiite […]
|ARABIAN POST SPECIAL|By K Raveendran| As predicted, Emaar chairman Mohammed Alabbar’s foray into e-commerce has already started creating waves in the regional and global online retailing market. In an apparent move to retain its clout, global e-commerce leader Amazon.com is reportedly in talks to acquire Dubai-based online retailer Souq.com. Amazon is reportedly considering a bid for all of souq.com, which had initially planned to sell a minority stake. […]
Dream on – vibrant homes inspiring creativity and attractively priced; payable over 3 years Dubai, United Arab Emirates – 24 November 2016 DAMAC Properties today announced the launch of AKOYA Manarola, a unique collection of colourful villas directly facing the international golf course and nestled within AKOYA Oxygen. Inspired by the charming village of Manarola on the Italian Riviera, this vibrant community is where creative and passionate […]
Dubai, 23 November Today, The Big 5 2016’s Gaia Awards elected SageGlass as the most innovative product in the Middle East, which will help moving towards a more sustainable built environment. SageGlass is an electronically tintable, dynamic glass that prevents heat and glare, increases occupants’ comfort, optimizes daylight while maintaining the view to the outdoor. Awarded by a panel of industry experts headed by Dr. Alaa K. […]
Iraq, the second-largest oil producer in OPEC, will shoulder part of the burden of output cuts outlined by the group in September, Prime Minister Haider Al-Abadi said. “Iraq will cut its output to preserve prices,” Al-Abadi told reporters in Baghdad on Wednesday. The country wants OPEC to reduce production by a total of 900,000 barrels a day when it meets next week in Vienna because the crude-market […]
Jeddah, Kingdom of Saudi Arabia, 22 November 2016 President of the Republic of Benin, H.E. Patrice Talon, paid an official visit to the Islamic Development Bank (IsDB) Group headquarters in Jeddah today. He was officially welcomed by IsDB President, Dr. Bandar Hajjar, as well as Vice Presidents and heads of the Bank’s entities. President Talon expressed his country’s willingness to scale up ongoing cooperation with the IsDB […]
22 November 2016 Dubai – ICT spending in the Middle East, Turkey, and Africa (META) is forecast to total $243 billion in 2017, according to the latest insights presented today by International Data Corporation (IDC). Hosting its annual ‘IDC Predictions’ event at Dubai’s Burj Al Arab hotel, the global technology research and consulting services firm said it expects the region’s ICT market to grow 3.6% year on […]
By Henning Gloystein | SINGAPORE SINGAPORE Oil prices rose to their highest level since October on Tuesday as the market priced in an expected output cut led by producer cartel OPEC, but analysts warned that a failure to agree on a cut could lead to a deepening supply glut by early 2017. International Brent crude oil futures rose as high as $49.63 a barrel on Tuesday, up […]
Torture and other forms of ill-treatment persist in Bahrain despite reforms introduced by the Gulf Arab kingdom to address alleged human rights abuses after a 2011 uprising, Amnesty International said on Monday. An Amnesty report assessing the work of oversight bodies set up to deal with grievances or guard against further abuses said it had found “serious shortcomings” in the work of two British-supported institutions whose work […]
RIYADH: The 48-hour cease-fire in Yemen, which ended on Monday, will not be extended because of repeated violations by the Houthi militias and their supporters, said the spokesman of the Saudi-led Arab coalition fighting terrorism.“The conditions and requirements to extend the truce were not met, and cease-fire rules were repeatedly violated by the Houthi militias and their allies, therefore it was called off,” Maj. Gen. Ahmed Al-Asiri […]
The United Arab Emirates could refer the United States to the World Trade Organisation over anti-dumping charges levied on steel pipes, a senior official said on Monday. The US International Trade Commission announced on Friday it was taking measures against UAE, Oman and Pakistan in relation to circular welded carbon-quality steel pipes, after a Department of Commerce investigation found them to be sold in the United States […]
By Henning Gloystein | SINGAPORE SINGAPORE Oil prices rose around 1 percent on Monday as OPEC moved closer to an output cut to rein in oversupply that has pressured prices for over two years. Brent crude futures LCOc1 were trading at $47.31 per barrel at 0743 GMT, up 65 cents, or 0.96 percent, from their last settlement. U.S. West Texas Intermediate (WTI) CLc1 was up 0.9 percent, […]
DUBAI // Two Moroccan women who lured three compatriots to the UAE with the promise of good jobs before forcing them to work as prostitutes have been jailed for three years each. The women, aged 39 and 22, beat the three and locked them in a flat, Dubai Criminal Court was told. One of the victims said she arrived in Dubai in September after paying the women […]
