Arabian Post Staff Dubai International Financial Centre (DIFC) announced a record growth in 2019. The total number of firms in the Centre reached 2,437, up 14% from 2018, with a total of 32% growth since 2017. It attracted 493 new businesses in 2019 and now counts 17 of the world’s top 20 banks, 8 of the 10 leading global law firms, 3 of the top 5 insurance companies […]
By Matein Khalid The US dollar is the traditional safe haven currency during times of geopolitical or financial stress even when the cause of a risk aversion spasm is ultimately American, such as the failure of Lehman Brothers in 2008, Obama’s epic budget battles with the Republicans in 2011 and the Trump White House’s drone hit on Iran’s most revered Revolutionary Guard commander on 3 January 2020. […]
Arabian Post Staff The Dubai Financial Services Authority (DFSA) announced that it has fined Enness Limited (Enness DIFC), a DIFC Representative Office. The DFSA fined Enness DIFC USD 105,000 (approximately AED 386,000) for engaging in unauthorised activity outside the scope of its Representative Office DFSA Licence. As a Representative Office, Enness DIFC is only permitted to carry out a narrow set of activities in the DIFC relating […]
The Value Added Tax (VAT) Recovery Self-Service Kiosks for Tourists will be set up at major shopping malls and hotels, in addition to the existing ones at air, land, and maritime entry and exit ports across the UAE, the Federal Tax Authority (FTA) announced. The expansion aims to provide additional services to tourists, enhancing the UAE’s status as a leading destination on the international tourism map. Planet […]
The following is a text of seven -year-old Soborno Isaac Bari’s prepared remarks to Mankind, delivered on January 6, 2020 at SP Pune University in India. I am honored to be in India, the birthplace of Mahatma Gandhi, and to be hosted by Savitribai Phule Pune University. Since 1949, India has stood as a beacon of democracy, diversity, and tolerance and the University of Pune has served […]
Arabian Post Staff Dubai is to have a Blockchain Campus at the site of Dubai Expo 2020. The campus will be established by Atlas Capital, one of the leading Fintech firms in the emirate, which are also hosting the Blockexpo and World Blockchain Summit 2020 in Dubai during the Expo 2020 Dubai. Dubai’s Blockchain market grew by 24% in 2018, surpassing the global average of 19%, Smart […]
Arabian Post Staff DMCC announced its strategic partnership with CV VC and CV Labs, to launch Crypto Valley – the world’s largest ecosystem for cryptographic, blockchain and distributed ledger technologies – in Dubai. Designed to foster growth, collaboration and integrity across the global blockchain economy, the ‘DMCC Crypto Valley’ will offer a variety of services including incubation for early-stage start-ups, co-working facilities, innovation services for corporate clients, blockchain and […]
(Source: https://pixabay.com/illustrations/diabetes-disease-diabetic-health-2058045/) Type 2 diabetes is the most prevalent type of diabetes around the world. This happens when your blood sugar levels rise due to problems with the production or use of insulin. Diabetes type 2 can happen to people of all ages; however, it mostly occurs to people above 45 years. Although diabetes is incurable, it is not a life sentence. According to the International Diabetes […]
By Arabian Post Staff DJIBOUTI: Just a few kilometres from the centre of the capital city of Djibouti, experts are giving final touches to what is tipped to be the second largest mosque in the country. The initial idea of Masjid Al Rayan originated in the need for providing a place for worshipers who had to vacate their original neighbourhood in an old district of the capital. […]
By Arabian Post Staff A surge in arrivals over the summer months accelerated Dubai’s tourism momentum, as the city welcomed 12.08 million international overnight visitors in the first nine months of 2019, according to the latest visitation figures released by Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism). The strong 4.3 per cent increase in volume growth compared to the same period last year was supported […]
It’s the largest and most popular music festival in the world, so it’s no surprise that every single available ticket for Glastonbury Festival 2020 sold out instantly. Tickets were placed on general sale on the morning of Sunday, 6th October. They were all done within a matter of hours. During that time, websites crashed, phone lines became engaged, and millions of music fans took to the internet […]
Most companies invest in training their employees to equip them with the relevant skill to perform specific jobs. Training enhances a workers’ performance and prepares him for future jobs and promotions. After training, employees can meet various challenges faced in the workplace. The leading companies in the UAE take their new entrants through relevant training to enable them to perform their jobs as expected. Employees who go […]
Zoutons, one of India’s largest marketplace for deals and offers, in order to expand its business portfolio, has recently launched itself in UAE. The website, which has so far successfully established itself amongst the Indian and USA customer base, is now unleashing a whole new “online shopping “experience for UAE consumers. The website has been actively initiating as a portal which ensures smooth online shopping experience with […]
By James M. Dorsey A public apology by a prominent Salafi scholar sheds a light on Saudi crown prince Mohammed bin Salman’s version of ‘moderate Islam,’ his effort to shape the Middle East and North Africa in his mould, and the replacement of religion with hyper-nationalism as the source of his legitimacy. Claiming to speak in the name of the Sahwa or Awakening movement, Aidh al-Qarni, one of the […]
By Matein Khalid I had published a column in the UK/MENA press arguing that the Uber IPO was “absurdly valued” last week. I was vindicated with a vengeance when Uber priced its IPO at 45, well below the level Saudi Arabia’s uber-sovereign wealth fund PIF invested $3.5 billion in the hose of Travis (now Dara) three years ago. Uber opened on the NYSE with a whimper, not […]
/By Matein Khalid/ Uber Technologies goes public in the most controversial and global tech IPO since Facebook seven years ago. Uber bulls claim that the ride sharing colossus is another embryonic Amazon, a firm that will dominate the digital constellation of the next two decades. I disagree. Uber loses $4 billion per annum and has already been forced to surrender Russia/CIS to Yandex, China to Didi and […]
|By Arabian Post Staff| A new whitepaper published by Dubai Chamber of Commerce and Industry on start-ups has called for closer cooperation between universities, government agencies and investment funds to expand the scope of investments that can support the growth of startups in the UAE. The whitepaper has been published in collaboration with Roland Berger. The findings were released during Dubai Startup Hub’s Entrepreneurship Advocacy event series. […]
|By Matein Khalid| Dropbox, founded by MIT students, venture financed by Sequoia Capital, is one of the world’s most valuable software startups. Even the Irish legend Bono of UB40 is an early stage investor. Its March 2018 IPO was a blowout. Dropbox broke syndicate at 21 and closed at up 50% on its first day. The shares peaked at 43 in June, but as Sophocles observed two […]
It is now far too dangerous to short the British pound, another fabulously profitable short since its fateful 1.50 high against the US dollar the night of the June 2016 referendum. The UK Foreign Secretary shocked me when he publicly warned that voting down Mrs. May’s deal to exit the EU would scrap Brexit. Sterling rose to 1.2850 on reports that the Tory Cabinet in Downing Street […]
|By Arabian Post Staff| The Central Bank of the UAE confirmed that its working with the Saudi Arabian Monetary Authority (SAMA) on a joint project which constitutes a Proof-of-Concept (PoC) for experimenting with Blockchain technology to facilitate cross-border payments between the two countries. The PoC is still at an early stage and will help CBUAE gain a deeper understanding of the feasibility of distributed ledger technology in this […]
|By Arabian Post Staff| The Arab Strategy Forum has issued a report that estimates the total cost of Iran’s nuclear programme to have exceeded US$500 billion since 2002.Furthermore, the costs of developing and operating infrastructure and facilities for the programme have added some US$50 billion to the bill. Specifically, the report states that the construction of the Bushehr Nuclear Power Plant accounted for the majority of the nuclear […]
|By Raj Samani |As 2018 draws to a close, we should perhaps be grateful that the year has not been entirely dominated by ransomware, although the rise of the GandCrab and SamSam variants show that the threat remains active. Our predictions for 2019 move away from simply providing an assessment on the rise or fall of a particular threat, and instead focus on current rumblings we see […]
James M. Dorsey The killing of journalist Jamal Khashoggi and potential Western sanctions against Saudi Arabia has sparked renewed debate about the value of the longstanding alliance between the United States and the kingdom. The debate is not limited to the US or the kingdom, both of which are assessing the reliability of the other even if that is a debate that is waged in Saudi Arabia behind […]
|By Arabian Post Staff| DP World announced that Sir Richard Branson has decided to step down from his role as chairman of Virgin Hyperloop One, which has a project with the Dubai-headquartered global port operator to launch DP World Cargospeed–an international brand for hyperloop-enabled cargo systems to support the fast, sustainable and efficient delivery of palletized cargo. Virgin Hyperloop said Branson’s decision is based on the increased […]
