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04 March 2017 Bahrain – Investcorp, a global provider and manager of alternative investment products, today announced the completion of its acquisition and integration of the debt management business of 3i (“3iDM”) from 3i Group plc. The business, now recognized as Investcorp Credit Management (“ICM”), adds $11 billion of assets under management, bringing the total to approximately $21.4 billion. Investcorp Credit Management is a leading global credit […]

The calendar may have only just flipped into March, but it has already felt like a long year for dollar bulls. They have been frustrated with the wait for detail from Donald Trump on the proposed tax and fiscal policies that started their run at his election in November. It is a rally that has faded in 2017, with the US currency down 0.25 per cent this […]

A friend of mine called me recently to say that he had been arrested at Dubai airport for carrying prescription medicine without the prescription. I am a European who lives outside the UAE so I don’t have much knowledge about such cases in the UAE. Can you tell me more? It is unfortunate what happened to your friend but there are a list of medicines that cannot […]

Jon Corzine, the former New Jersey governor and Goldman Sachs chief who oversaw the collapse of MF Global, is poised to take the stand next week in a potentially explosive trial over the alleged negligence of the company’s auditor, PwC. The world’s second-biggest professional services firm was the auditor of MF Global, the futures brokerage that collapsed in October 2011 after huge bets on the debt of […]

Once upon a time, it was seen as a significant concession to put wheelchair-accessible rooms in a hotel room and organise special assistance for getting off a plane. But things are changing – partly because authorities are introducing more disability-friendly regulations, but mainly because tourism operators have twigged that accessible travel is a lucrative market. And that has led to innovations such as these: Accessible skiing in […]

One of these sites is not like the other: ESPN.com, CBSSports.com, FoxSports.com, SBNation.com. To the titans of sports coverage, networks with broadcast rights to major sporting events, SB Nation is a scrappy flotilla of sports blogs led by its eponymous flagship site. Because it can’t air games, SB Nation has carved out a niche for itself as a multifaceted clearinghouse for sports fans, with individual sites for […]

JUBA South Sudan has arrested four soldiers after residents accused the army of beating and raping civilians in a small village near the capital last month, a military spokesman said on Friday, in a case that became a symbol of spiralling military abuses. The military launched an investigation after a local bishop brought five victims, including young girls, from Kubi village for medical treatment in the capital. […]

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NEW YORK/SAN FRANCISCO Institutional investors anxious not to be left out of this year’s marquee initial public offering helped Snap Inc (SNAP.N) pull off the biggest U.S.-listed technology share sale this week since Chinese e-commerce juggernaut Alibaba Group Holding Inc (BABA.N) smashed records in 2014. Keen to boost returns and with a dearth of new stocks to buy, the IPO of a buzzy social media group was […]

Oman is now getting attention for what’s hidden underneath its craggy peaks. Majlis Al Jinn has the world’s ninth largest cave chamber, while the pools and caverns of Wadi Bani Khalid and Wadi Shab attract a growing number of visitors every year. Of the country’s many caves, Al Hootah is the only one with guided tours, and it reopened earlier this season four-years after severe floods in […]

Total Islamic banking assets in the UAE have increased to about AED520 billion ($141.5 billion), about 7 percent of the global total, it has been revealed. Saif Hadef Al Shamsi, assistant governor for Monetary Policy and Financial Stability at the UAE Central Bank, said that Islamic banking’ assets account for around 20 percent of AED2.6 trillion of the total assets of the state’s banks. He added in […]

Saudi Arabia’s main sovereign wealth fund Public Investment Fund (PIF) is looking at taking minority stakes in German technology and financial companies, although any deal is unlikely before 2018, the kingdom’s ambassador to Germany said. Such a move would mirror other Gulf state funds from Dubai, Qatar and Kuwait, which have taken minority stakes in German companies including Daimler, Deutsche Bank and Volkswagen, although Ambassador Awwad Al-Awwad […]

The law firm at the centre of the Panama Papers scandal has quit New Zealand. The offices of law firm Mossack Fonseca in Panama City (file). Photo: AFP Mossack Fonseca hit the headlines last year when a massive leak revealed its role in helping its clients hide their wealth around the world, including in New Zealand New Zealand became a popular destination for Mossack Fonseca to set […]

Uber’s US rival Lyft is seeking $500m in a new fundraising round to provide fresh ammunition as the transportation company takes its fight with Uber to a growing number of US cities, according to two people close to the process. The fundraising comes at a time when Uber has been struggling with a series of public relations crises, including allegations of sexual harassment and a video of […]

Oman’s government has given itself breathing space from the pressure of financing a large budget deficit by selling $5 billion of international bonds, almost completing its entire foreign borrowing plan for 2017 in a single issue. Wednesday’s bond sale, in tranches of five, 10 and 30 years, was about double the size that most investors had expected and a huge amount for a country which returned to […]

This Sept. 6, 2012, file photo, shows the Amazon logo in Santa Monica, Calif. Amazon’s cloud-computing service Amazon Web Services experienced problems in its eastern U.S. region, Tuesday, Feb. 28, 2017, causing widespread problems for thousands of websites and apps. (AP Photo/Reed Saxon, File) Usually people don’t notice the “cloud”—unless, that is, it turns into a massive storm. Which was the case Tuesday when Amazon’s huge cloud-computing […]

Bin Shafar: “Empower’s annual agenda has many initiatives that target the whole society” Dubai, UAE, 2 March 2017: Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, has been awarded the Dubai Chamber CSR Label for the third consecutive year, in recognition of the company’s social initiatives which seek to raise social and environmental awareness among its employees, clients and the whole society. […]

The federal government has announced that the Australian Signals Directorate (ASD) will be receiving critical infrastructure upgrades at two of its national security facilities in Canberra. The AU$75 million upgrades to the intelligence agency will be funded under the Defence Integrated Investment Program, Minister for Defence Personnel Dan Tehan said on Thursday. “The ASD is essential to Australia’s national security and these improvements will help keep Australians […]

In 2011, the Kabul foreign press corps numbered 85, by the reckoning of Dominic Medley, who has worked here for many years as a press officer for NATO, the American military and the United Nations. The American military was surging, reaching more than 100,000 troops by 2012. The press surged as well, with regular visitors in addition to the resident press corps, plus dozens of reporters going […]

T Rowe Price’s flagship small companies fund has revealed annualised returns of nearly 35 per cent from its private investments, rebutting critics who argue that mutual funds should eschew riskier, unlisted companies.  With more companies delaying stock exchange listings due to the abundance of venture capital and onerous requirements of being a public company, asset managers have begun to invest more aggressively in private groups such as Uber and […]

Its account of the convoy attack went much further than findings of a United Nations inquiry set up by then-Secretary General Ban Ki-moon, which concluded in December that the convoy had been bombed from the air but did not identify the attackers. Continue reading the main story The 31-truck convoy organized by the United Nations and the Syrian Arab Red Crescent had been carrying food, medicine, children’s […]

By Phil Stewart and Idrees Ali | WASHINGTON WASHINGTON The top U.S. commander in Iraq on Wednesday downplayed the chances that the United States would deploy a large number of additional coalition forces to battle Islamic State, even as President Donald Trump weighs options to speed the campaign. Army Lieutenant General Stephen Townsend also appeared to deliver a robust defence of Kurdish fighters that have been America’s […]

Wednesday 16:30 GMT Overview Wall Street surged to another record as comments from Federal Reserve officials caused traders to boost their bets for an increase in US interest rates this month and investors celebrated a more upbeat tone from Donald Trump in his first address to Congress. In keeping with he risk-on mood that washed across financial markets around the globe, the dollar also rose and gold […]

Big reforms to rules for UK initial public offerings have been proposed by the market regulator to give investors better and earlier information, as the watchdog seeks to keep Britain “open for business” after Brexit. The Financial Conduct Authority said on Wednesday that information about a company planning an IPO should be made available sooner, and to a wider range of analysts and investors. The FCA warned that […]

Wednesday 09:30 GMT Overview The dollar and government bond yields are jumping, and gold is falling, as hawkish comments from Federal Reserve officials cause traders to drastically shorten the odds of an increase in US interest rates this month. Meanwhile, US equity index futures point to another record on Wall Street, tracking gains in Europe and Asia, after Donald Trump addressed Congress for the first time, with […]

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