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UAE.  A report published today by international real estate advisor Savills has ranked the United States of America (USA), the United Arab Emirates (UAE) and Singapore respectively as the top three countries for residential investability on the basis of economic growth and market recovery. The new Savills World Residential Investability Ranking focuses on countries with cities and resort locations that have consistently attracted investor interest over recent […]

|By Matein Khalid| The Federal Reserve could well raise its overnight borrowing rate at the next FOMC monetary policy conclave on September 17. Though contagion from China’s 40% stock market meltdown has triggered bear markets from Hong Kong to Frankfurt and plunged Asian/emerging markets equities into ta ghastly replay of 1998’s epic meltdown (General Suharto’s overthrow, the Russian rouble default, Malaysia’s capital controls, the run on the […]

UAE. The MENA Region is all set to become a global logistics hub in the next few years, an Al Masah Capital Limited Report on “Transportation & Logistics in MENA” has revealed, which experts believe will be driven by the emergence of the MENA-Asia trade corridor that will redefine global supply chains. Notably in 2013, India and China ranked as top merchandise export and import destinations for MENA […]

|By Matein Khalid| Geopolitics is now another source of risk for the Turkish lira, government debt and Istanbul equities. The Turkish air force is bombing Daish in Syria and the secessionist Kurdish PKK party in northern Iraq. Suicide bombings have killed Turkish citizens in eastern Anatolian cities on the Syrian border. Ankara has given the US a green light to launch military airstrikes from the Incerlik air […]

Record trading of Dubai crude by two Chinese state companies this month on a decades-old oil pricing system has pushed the benchmark higher, even as other grades are being pressed lower by a global glut. The strong Dubai trade has forced Middle East producers to raise official selling prices (OSPs), driving Asian buyers to seek cheaper oil elsewhere or cut refinery runs due to low margins. Chinaoil […]

Chinese airlines and European luxury car makers are emerging as the early losers after the People’s Bank of China let the yuan fall the most in two decades. China’s surprising move to cut its daily reference rate by 1.9 percent Tuesday rippled through global markets. Policy makers called the change a one-time adjustment and said its fixing will become more aligned with supply and demand. While it […]

UAE. July’s survey data signalled another increase in overall business activity across Dubai’s private sector economy, which marked five-and-a-half years of continuous expansion. However, growth momentum moderated to its weakest recorded since March 2012 amid softer contributions from all three key sub-sectors monitored by the survey. Private sector companies operating in Dubai are nonetheless still highly upbeat about their business activity prospects for the year ahead, according […]

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UAE. July data suggested that the UAE’s non-oil private sector regained some of the growth momentum that was lost at the end of the second quarter. Output and new orders both rose at sharper rates, contributing to a robust overall improvement in business conditions. Job creation was also sustained at a solid pace. On the price front, data highlighted divergent trends in July. The rate of cost […]

SAUDI ARABIA. Saudi Arabia’s non-oil private sector began the third quarter of 2015 on a positive note, with business conditions improving at the fastest pace in three months during July. Stronger growth of the sector as a whole was mainly driven by sharper expansions in both output and new orders, while purchasing activity also rose more quickly. However, data for employment bucked the general trend, as the […]

What’s going to generate headlines this week in international news? We’re experimenting with offering readers a tip sheet. Let us know if you find it useful or what you’d like to see here. Contact [email protected]. — Hanna Ingber, Assistant Editor, International Desk MONDAY: Secretary of State John Kerry will be traveling all week, after spending the weekend in Cairo, where he pushed Egyptian officials to show greater […]

Gold fell, heading for its largest monthly decline in two years, as the Federal Reserve moved closer to boosting US interest rates for the first time since 2006. While Fed policy makers refrained from signaling the timing of a rate rise after a two-day meeting, they described job gains as solid amid an improving economy, according to a statement Wednesday. The market expects a move as early […]

The bargain hunters who thronged Kumar Jain’s jewelry store in Mumbai as gold prices tumbled in 2013 are staying away for now. They’re holding off because they think this week’s collapse to the lowest price in five years has further to run, according to Jain. That’s a view shared with Goldman Sachs. “It hasn’t been anything like what happened two years ago,” Jain said, referring to the […]

|By Matein Khalid| As a student of investing and the son of a painter/art historian, I cherish art as a visceral, spiritual value but am also intrigued by its historical linkage to banking and the financial markets. The happiest moments of my life have been spent in the Prado, Tate, Hermitage, Rijksmuseum, Ufizi, MOMA, Met, the National Gallery on Trafalgar Square, the Louvre, Musee d’Orsay and so […]

SINGAPORE, 3 days ago Chinese ultra wealthy individuals claimed nine of the 10 spots on a list of Asia’s richest millennials (definite as those born from 1981 to 1997), revealed Wealth-X, an authority on wealth intelligence, providing sales, marketing, strategy and compliance solutions to clients in the financial services, luxury, not-for-profit and education sectors. Three of the 10 spots on the list were occupied by female Asian […]

|By TAP Staff| The UAE is taking the world’s most popular landmarks and attractions in Vegas, Orlando, London, Paris, New York and Ibiza to the next level for 2020. “Dubai is now considered as an international city on the same stage as New York, London, Paris and Tokyo, and is leading the development of the UAE leisure market together with Abu Dhabi,” said Phil Taylor, Director of Team Leisure LLC, previously Chief Executive of […]

UAE. Private sector businesses in Dubai signalled further strong increases in business activity and new orders in June, though the rates of expansion moderated to 27- and 53-month lows, respectively. Despite softer increases in activity and new work, Dubai private sector companies were increasingly optimistic towards the year-ahead, with the degree of positive sentiment reaching a 19-month high. Furthermore, increased confidence towards the business outlook underpinned the […]

|By TAP Staff| Claims worth AED 2.27 billion have been filed with the DIFC’s Court of First Instance from January to June 2015. This represents a 447 percent increase compared with the same period in 2014. The big increase reflects the growing confidence placed in DIFC and Dubai as a global and regional centre of legal excellence, DIFC Courts said. The average value per claim in the […]

UAE. Non-oil private sector firms in the UAE reported the weakest improvement in business conditions since August 2013 during June. Marked slowdowns in growth of output and new business were at the forefront of the overall deceleration, while employment continued to rise at a solid pace. Meanwhile, inflationary pressures from both input costs and output charges were negligible. The survey, sponsored by Emirates NBD and produced by […]

Oil price flux unlikely to hit long-term sector growth BEIRUT, 13 hours, 17 minutes ago The cyclicality of the oil and gas industry is unlikely to impact the long term trajectory of the sector, a report said, noting that the current fluctuations may speed up some of the trends that were already unfolding. The new report entitled “Oil and Gas Reality Check 2015” released by Deloitte, a […]

|TAP Special| Singapore’s importance as an oil trade centre has received further boost with Platts adopting e a new system from next month for determining oil product values with reference to loadings out of the city state as well as Malaysia. This is expected to encourage use of regional oil storage facilities. According to Reuters, the change in how fuel oil, diesel, jet fuel and gasoline are […]

UAE. The UAE has emerged No. 5 in the KPMG 2015 Change Readiness Index behind Singapore, Switzerland, Hong Kong and Norway in terms of its enterprise capability, government capability and people and civil society capability according to a recent study by KPMG International and Oxford Economics. The index ranked 127 countries for their capacity to prepare for and respond to accelerating change brought about by natural disasters, […]

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 […]

WASHINGTONSurging investment by Chinese companies in U.S. research labs is yielding a fast-growing trove of patents, part of a push to mine America for ideas to help China shift from being the world’s factory floor to a driver of innovation. Largely absent from American research hubs a decade ago, Chinese firms including Huawei Technologies and ZTE Corp are now using U.S. researchers to create patents ranging from […]

A map of China is seen through a magnifying glass on a computer screen showing binary digits in Singapore in this January 2, 2014 photo illustration. Reuters/Edgar Su/Files SINGAPORE Security researchers have many names for the hacking group that is one of the suspects for the cyberattack on the U.S. government’s Office of Personnel Management: PinkPanther, KungFu Kittens, Group 72 and, most famously, Deep Panda.     But to […]

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