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After three female Emirati tourists, said to be sisters, were brutally attacked at a London hotel (leaving one victim in a coma with severe head injuries), London police are treating the case as an attempted murder. Initial evidence showed that theft was the reason behind the attack. The three women were visiting London and staying at the four-star Cumberland Hotel, accompanied with three kids aged between 7-12 […]

Addressing the United Nations General Assembly in September, President Barack Obama declared the pursuit of Israeli-Palestinian peace one of the two main U.S. foreign policy priorities for his second term. Fast-forward to today, the Obama administration faces a stark choice: expend more energy on a faltering peace process or absorb the hit to an already-troubled record in the Middle East and walk away from negotiations. Secretary of […]

Fears that high-speed traders have been rigging the U.S. stock market went mainstream last week thanks to allegations in a book by financial author Michael Lewis, but there may be a more serious threat to investors: the increasing amount of trading that happens outside of exchanges. Some former regulators and academics say so much trading is now happening away from exchanges that publicly quoted prices for stocks […]

The U.S. Justice Department is investigating high-speed trading for possible insider trading, Attorney General Eric Holder told lawmakers on Friday. The disclosure comes the same week that regulators and the FBI also confirmed they are looking into potential wrongdoing by high-frequency stock traders. Regulators have been examining whether ordinary investors are at an unfair disadvantage to high-speed traders, who use computer algorithms to rapidly dart in and […]

Saudi Arabia’s leaders hope U.S. President Barack Obama and their King Abdullah understand each other better after talks and can stabilise a close regional security alliance after months of rockiness over Middle East policy, diplomats said. Friday’s two-hour exchange at Abdullah’s desert camp did not yield a shared statement or any evidence of policy changes, leading some Saudis to question whether differences over Syria’s war or Iran’s […]

A UN panel on Monday morning released its much awaited report which assessed impacts of climate change on human lives, natural resources and marine ecosystem across the globe. It predicted a gloomy picture for Asia where most of the countries, including India and China, will not only have to face more extreme weather events but also have to experience severe stress on drinking water and food-grains by […]

Chinese authorities have seized assets worth at least 90 billion yuan ($14.5 billion) from family members and associates of retired domestic security tsar Zhou Yongkang, who is at the center of China’s biggest corruption scandal in more than six decades, two sources said. More than 300 of Zhou’s relatives, political allies, proteges and staff have also been taken into custody or questioned in the past four months, […]

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Middle East fund managers are willing to buy most of the region’s main equity markets on dips, believing corporate earnings and balance sheets will continue improving this year, a monthly Reuters survey shows. Markets retreated early this month as retail investors rushed to take profits during the worst of the geopolitical uncertainty over Ukraine. Dubai’s bourse fell 6.7 percent from its peak close to its trough. Qatar’s […]

The U.S. National Security Agency has infiltrated servers in the headquarters of Chinese telecommunications and internet giant Huawei Technologies Co, obtaining sensitive information and monitoring the communications of top executives, the New York Times reported on Saturday. The newspaper said its report on the operation, code-named “Shotgiant,” was based on NSA documents provided by Edward Snowden, the former agency contractor who since last year has leaked data […]

Russia’s economy is showing signs of a crisis, the government in Moscow said as the U.S. and the European Union announced sanctions over the country’s support for the Crimea region breaking away from Ukraine. “The situation in the economy bears clear signs of a crisis,” Deputy Economy Minister Sergei Belyakov said in Moscow yesterday. The cabinet needs to refrain from raising the fiscal burden on companies, which […]

Growing tension between the West and Russia ahead of Ukraine’s weekend referendum in Crimea pushed down stocks on major world markets on Friday and drove up buying of safe-haven gold and the yen. Financial markets watched nervously as the West increasingly talked about sanctions and Russia hit back with promises of retaliatory measures and displays of military prowess. The vote being held on Sunday by pro-Moscow authorities […]

Saudi Arabia’s drive to make Qatar abandon its embrace of the Muslim Brotherhood may founder because of the limited leverage the Saudis and their allies can exercise over the world’s richest country. Qatar traded more with Singapore in 2012 than it did with the three Gulf neighbors — Saudi Arabia, the United Arab Emirates and Bahrain — that withdrew their ambassadors from Doha last week to protest […]

Indian politicians are expected to spend around $5 billion on campaigning for elections next month – a sum second only to the most expensive U.S. presidential campaign of all time – in a splurge that could give India’s floundering economy a temporary boost. India’s campaign spend, which can include cash stuffed in envelopes as well as multi-million-dollar ad campaigns, has been estimated at 300 billion rupees by […]

The use of stolen passports by two passengers to board a Malaysian airliner that vanished over the South China Sea raises concerns that terrorists may have caused the jet’s apparent crash, say former U.S. security officials who specialize in transportation safety. Use of stolen passports is a tactic of terrorists trying to avoid detection, while groups including al-Qaeda have sought to crash airplanes into oceans to cover […]

Saudi Arabia and India have formed a new joint venture to build a rice distribution hub in Dubai to link Indian production to consumers in Middle East, Arab News reported. Prince Mishaal bin Abdullah bin Turki and global private investor V Raman Kumar have formed the joint venture with India’s rice producer, LEAF India (Lakshmi Energy and Foods), to create West Asia and North Africa region’s largest […]

The Dubai Gold and Commodities Exchange plans to list four currency futures contracts this year to help investors hedge their financial risk in China, Russia, South Korea and South Africa. These will include renminbi, ruble, won and rand futures in the next three to six months, Gary Anderson, chief executive officer of the exchange, said in an interview  to Bloomberg. The DGCX already offers contracts in gold, […]

India has decided to block investigations by the United States into its trade policies and patent laws and prepare for a battle at the World Trade Organization (WTO), a move that could escalate already-strained tension between the two countries. New Delhi is furious about a threat of trade sanctions made by the U.S. Trade Representative’s (USTR) office over its protection of intellectual property rights (IPR), preference for […]

|TAP Special|If you are lucky, maybe you can buy your stolen credit card details from the black market yourself. If you are not, chances are that the information will land up with someone else, who will surely want to use it to make money off you. A cybersecurity firm said on Tuesday that it uncovered stolen credentials from some 360 million accounts that are available for sale […]

Mt. Gox, once the world’s biggest bitcoin exchange, abruptly stopped trading on Tuesday and its chief executive said the business was at “a turning point” but gave no details. Several other digital currency exchanges, including Bitstamp and BTC-E, issued statements attempting to reassure investors of both bitcoin’s viability and their own security protocols. The website of Mt. Gox suddenly went dark on Tuesday with no explanation, and […]

BlackBerry Ltd plans to launch a new tool for business and government customers to manage mobile devices on their networks, part of a drive by the one-time smartphone pioneer to focus on its profitable enterprise or services business. The company said on Tuesday it would launch BlackBerry Enterprise Service 12, or BES12, to unify its existing platforms and provide clients with increased flexibility and security. Following a […]

|By Pranay Gupta| When I look out of the windows of my 25th-floor apartment in Dubai, I see the Persian Gulf shimmering a few blocks away. Cruise ships are parked at the dockyard, and in the blue waters beyond a steady stream of oil-laden tankers head out to quench the world’s thirst for black gold. Closer to me are other skyscrapers, vast shopping centers, and crowded convention […]

A sprawling forested estate of graceful waterways and summer houses – half the size of Monaco but just one hour’s drive from Kiev – stands as a symbol of the folly of Ukraine’s fugitive president. Even the most cynical Ukrainians, who on Saturday streamed to see Viktor Yanukovich’s luxury estate, rubbed their eyes in disbelief when they were confronted by the scale of the opulence he built […]

BlackRock Frontiers Investment Trust Plc (BRFI), a $297 million fund run by the world’s biggest asset manager, said it “substantially” reduced United Arab Emirates holdings last month on concern stocks rallied too much. “While the U.A.E. economy in general is performing well and Dubai is booming, we are increasingly concerned about the level of speculation in the market,” investment managers Sam Vecht and Emily Fletcher in London […]

There is renewed demand from domestic and overseas buyers seeking Dubai property assets and this is a sign of increasing interest in Dubai’s improving real estate market, according to leading international real estate consultancy Cluttons. Strong interest in Emaar’s newly launched Lila and Yasmin properties at Arabian Ranches, Bahrain-based Ravi Pillai Group’s plans to invest USD$1.5 billion into two real estate projects in Business Bay and Downtown, […]

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