|By Arabian Post Staff| Middle East Venture Partners (MEVP) announced the launch of its third MENA venture capital fund – the Middle East Venture Fund III (MEVFIII) – with a target size of $250 million. MEVFIII will invest in innovative early-stage and growth-stage tech companies in the MENA and Turkey region. The launch of the new fund follows the announcement in May 2017 that Mohamed Alabbar and MEVP […]
|By Matein Khalid| Jamie Dimon, the unanointed king of Wall Street and chief executive of New York banking colossus J.P. Morgan did not mince his words. He called Bitcoin “a fraud”, a speculative bubble comparable to the Dutch tulip mania of the seventeenth century and declared he would fire any trader at his bank trading in the cryptocurrency “in a second” for “stupidity”. This has only reinforced the […]
|By Arabian Post Staff| The UAE Federal Tax Authority (FTA) announced that it will open online registration for tax purposes for businesses in mid-September 2017. The announcement was made at a media briefing by the FTA to familiarise with various aspects of the FTA’s work. The briefing also covered the implications of the tax procedures for boosting the momentum of the UAE’s sustainable economic development. Khalid Ali […]
|By Arabian Post Staff| SHUAA Capital, the UAE’s premier integrated financial services firm, announced it has entered into an agreement with Integrated Financial Group (IFG), towards the acquisition of Integrated Capital and Integrated Securities. The signing of the agreement follows the completion of the due-diligence process initiated in March. The strategic acquisition, which remains subject to regulatory approvals, of two of the UAE’s most active and successful financial […]
|By Arabian Posr Staff| The Abu Dhabi National Oil Company (ADNOC) and Borealis have signed a framework agreement to expand both ADNOC and Borealis downstream petrochemicals business and support the delivery of ADNOC’s integrated smart growth and partnership strategy. Under the agreement, ADNOC and Borealis will move to the pre-feed (front end engineering and design) stage for the construction of the Borouge 4 complex, which encompasses a world-scale, mixed […]
A festival, unlike, say, a concert or exhibition, is a contained, utopian world, with a focus on a set of circumscribed pursuits. Like a highbrow summer camp for adults, festivals offer a jot of escapism, a chance to turn our attention away from some of the weightier issues of the past year. What makes them stand apart from other events is the joy of sharing the same […]
Thursday 10:45 BST What you need to know ● Europe and Asia bourses soft after Wall Street sell-off● Futures signal more losses for Wall Street● Dollar finds its footing but pound jumps above $1.30● Yen, gold and Treasuries firm as traders again seek havens ● Brent crude slips back towards $52 a barrel——————- Hot topic US equity futures are weaker while haven assets are again in demand, […]
By Robin Emmott | BRUSSELS BRUSSELS France and Germany are resisting a plan by U.S. officials for NATO to take a bigger role in the fight against Islamic State in Syria and Iraq, in line with calls from President Donald Trump for the alliance to do more to combat terrorism. Many alliance members hope the plan will be announced in Brussels next Thursday, when Trump attends his […]
Designers, buyers and influencers have descended on Dubai for Arab Fashion Week, a five-day event dedicated to ready couture and resort wear for women, men and those who refuse a label. The show opened Tuesday night with Jordanian-Canadian sensation Rad Hourani, known for his unisex designs, Palestinian-American Jenanne Filat and her menswear lineup straight out of Arkansas, and runway darlings Marchesa. Hourani sent his models down the […]
The president’s packed schedule is filled with opportunities for Mr. Trump to slip up, publicly or privately: back-to-back discussions with the leaders of other nations, many of whom are veteran negotiators well versed in issues they care deeply about. Continue reading the main story By contrast, it could also serve as a much-needed change of subject for a president besieged at home with an agenda frozen by […]
By Foo Yun Chee | BRUSSELS BRUSSELS U.S. social network Facebook (FB.O) is set to be penalized by EU antitrust regulators for allegedly providing misleading data related to its WhatsApp acquisition three years ago, a person familiar with the matter said on Wednesday. The move by the European Commission will come after a six-month investigation and is expected to be a stiff warning to other companies facing […]
One minute I’m in an office in Dubai’s Jumeirah Lakes Towers; the next, I have been transported to the grounds of a villa in the Sheikh Zayed Housing Programme. I scan the garden – there’s a ball by my feet, so I pick it up and toss it out of the way. Next, I teleport myself just inside the front door. I take a wander around the […]
Appear Here, a marketplace for short-term retail space that originally launched to ride the ‘pop-up’ shop craze, has raised $12 million in Series B funding. Leading the round is Octopus Ventures, with participation from Simon Venture Group, and existing investors Balderton, MMC, Meyer Bergman and Playfair Capital. It brings total funding for the company to $21.4 million, according to CrunchBase. Founded in London in 2013 by then-20-year-old […]
Market research company Kantar has published the latest statistics on mobile market share in Australia, revealing that despite competition, Telstra has yet again increased its mobile market share to a total of 41.4 percent. As of March 31, Telstra’s post-paid market share grew by 2 percentage points for a total of 42.8 percent, although prepaid fell by 2.8 percentage points down to 38.9 percent of the market. […]
Lauryn Hill made a solid return to the region with a performance at the Mawazine Festival in Morocco on May 15. Headlining the OLM Souissi stage in the capital Rabat, this was the second concert by the mercurial 41-year old in the Arab world – her last being a 2015 show as part of the Carthage Festival in Tunisia. Hill provided a generous 19 song set that […]
By Yara Bayoumy and Katie Paul | WASHINGTON/RIYADH WASHINGTON/RIYADH When U.S. President Donald Trump meets Saudi princes in Riyadh on Saturday, he can expect a warmer welcome than the one given a year ago to his predecessor Barack Obama, who Riyadh considered soft on arch foe Iran and cool toward a bilateral relationship that is a mainstay of the Middle East’s security balance. Beneath the pomp, Riyadh will be looking for assurances […]
Capsule, a New York-based pharmacy delivery startup, has raised $20 million from Thrive Capital, founder Eric Kinariwala told TechCrunch editor Jordan Crook on stage today at Disrupt NY. The raise was first noted in the Wall Street Journal but Kinariwala came on stage today during our Founders Spotlight portion of the event to chat about his plans to cut out third-parties and streamline the supply chain to lower costs […]
British IT expert Marcus Hutchins who has been branded a hero for slowing down the WannaCry global cyber attack, during an interview in Ilfracombe, England, Monday, May 15, 2017. Hutchins thwarted the virus that took computer files hostage around the world, including the British National Health computer network, telling The Associated Press he doesn’t consider himself a hero but fights malware because “it’s the right thing to […]
DAKAR Armed groups have agreed to allow for the evacuation of some civilians from a mosque in Central African Republic’s southeastern town of Bangassou after two days of fighting, a senior U.N. official said on Monday. Around 1000 people in the town had sought refuge from attacks inside and then found themselves trapped there by the militias, said U.N. Humanitarian Coordinator in Central African Republic Najat Rochdi. […]
Abu Dhabi’s Mubadala Investment Co. plans to invest as much as $15 billion in SoftBank Group Corp.’s Vision Fund and start two new venture capital funds to build its technology holdings. The SoftBank fund will be “wrapped up” in two to three weeks with about $95 billion of commitments, according to Ibrahim Ajami, head of venture capital at Mubadala Capital, the sovereign wealth fund’s investment arm. Mubadala plans to […]
Hours before Germany formally declared war on France in WWI, Marcel Proust penned a letter to his financial advisor that anticipated the horrors to come. “In the terrible days we are going through, you have other things to do besides writing letters and bothering with my petty interests, which I assure you seem wholly unimportant when I think that millions of men are going to be massacred […]
By Jack Kim and Ju-min Park | SEOUL SEOUL North Korea’s successful missile test-launch signals major advances in developing an intercontinental ballistic missile, such as mastery of re-entry technology and better engine performance key to targeting the United States, experts say. The isolated country has been developing a long-range missile capable of striking the mainland United States mounted with a nuclear warhead. That would require a flight […]
In partnership with TechCrunch, The Europas Conference & Awards, is a different kind of tech event which features main-stage speakers and panels as well as smaller breakout sessions on key subjects for startups. The Europas conference is followed by a glittering awards based on voting by expert judges and the industry itself. Voting is now live, so please go and vote! The awards are editorially led, with […]
Dubai has secured $3 billion credit facilities for the expansion of its two airports. The Department of Finance for the Government of Dubai, the Investment Corporation of Dubai and Dubai Aviation City Corporation, advised by HSBC, announced the funding agreement and the establishment of Airport Financing Company FZE (FINCO), the long-term funding platform for Dubai Airports, according to news agency WAM. The financing will be used for […]
