PayTM, the Alibaba-backed Indian smartphone payments platform, plans to enter the asset management market a month before it begins banking operations in the country. The group, which has attracted more than 170m users since it started seven years ago, told the FT that its aggressive strategy to disrupt traditional finance will soon extend to loans, wealth management and mutual fund products. The move could give PayTM an even […]
Britain’s security co-operation with EU countries will be on the table as part of the Brexit negotiations, Theresa May has said as she prepares to become the first world leader to meet new US president Donald Trump. The prime minister plans to discuss British-US co-operation on terrorism and Nato at the meeting in Washington on Friday, the prime minister said on Sunday — and sent a signal […]
Kuwait is well positioned to mitigate the impact of lower oil prices on the economy despite a deterioration in the country’s fiscal position, according to the International Monetary Fund. It said in a new report that Kuwait’s nonhydrocarbon growth has moderated from 5 percent in 2014 to about 3.25 percent last year as a result of the drop in oil prices. However, large financial buffers and low […]
For hundreds of years, fishing and pearl diving were vital to the people who lived around the Arabian Gulf. Along with trade, it was these two activities that allowed communities to flourish in the days before the discovery of oil. While pearl diving is largely a thing of the past, fishing remains a major industry – perhaps too major. Like many other seas, the Arabian Gulf is […]
Dubai Chamber of Commerce and Industry saw its network of members grow by 9 percent, or 16,800 companies in 2016, bringing the organisation’s total membership to 201,000 by the end of the year. The increase strengthens the Chamber’s position as one of the largest membership-based chambers of commerce in the world, it said in a statement. It said the total value of members’ exports and re-exports amounted […]
While tech titans such as Google, Uber, and Apple along with almost every auto maker on the planet have poured resources into the development of autonomous vehicle technology, online retail giant Amazon has been relatively quiet on that front. But a recently approved patent shows the Seattle-based company could be ready to make a big move in the autonomous vehicle space. The patent doesn’t suggest […]
When it comes to gourmet food, you can find all manner of creations in Dubai – from camel stir fry to truffle ice cream. Yet there is one thing missing – a Michelin star. That may be about to change, if recent rumours are to be believed. The prestigious 126-year-old French ratings guide recently expanded to Singapore, another expatriate-dominated hotspot. Last April, the international director of Michelin […]
In 2015, Malian businessman and former interim prime minister Cheick Modibo Diarra told Arabian Business: “When it comes to investment…Africa really is the last frontier. Be it agriculture, energy production, extraction of gold and diamonds, or oil and gas, we have a lot of opportunities and a young workforce that understands how business works.” He was speaking at a time when interest in Africa among Middle East […]
Whatever has happened to cloud? From risk bête noir to flavour of the month – how did that happen? Surveys across the board show huge growth in the adoption of cloud computing, especially hybrid cloud: in a recent report, 95% of IT professionals said they were using the cloud, and 75% said they were using hybrid cloud. And the report also found that security was no longer […]
In strange and confusing times, with disenchantment at successive governments aggravated by feelings of insecurity after terrorist attacks, looming elections threaten to produce a socially-divisive outcome France may come to regret. One essential question faces French voters: should they embrace the extraordinary political turmoil that has swept the West and elect Marine Le Pen, leader of the anti-immigration Front National, a party many see as racist, as […]
20 January 2017 The Roads and Transport Authority – Nashwan Atta’ee: A delegation from the Roads and Transport Authority (RTA) in Dubai has recently traveled to Paris to visit ALSTOM Company, a partner of RTA’s Rail Agency and one of the leading players in the rail industry worldwide. The visit was part of RTA’s efforts to keep abreast of the latest and most innovative solutions for broadening […]
BERLIN Germany will need a new economic strategy geared toward Asia should the new U.S. administration start a trade war with China, Vice Chancellor Sigmar Gabriel said on Friday, warning against protectionism hours after President Donald Trump was sworn in. “I think we have to prepare for a rough ride,” Gabriel said in an interview with the public broadcaster ZDF, in the first official German reaction to […]
Brexit’s impact on the UK economy weighed on sterling traders at the end of another turbulent week for the devalued currency following the publication of disappointing retail sales, sending the pound sharply lower. December’s seasonally adjusted sales, minus fuel, were 2 per cent lower than in November, the worst monthly decline in more than five years. The pound had begun the day higher, but the data reversed […]
Dubai, UAE, 20 January 2017 Dubai Electricity and Water Authority (DEWA) has issued on 15 January 2017 a Request for Proposal (RFP) to all qualified bidders for a 200MW Concentrated Solar Power (CSP) Power Plant, the fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park. This supports the wise vision of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the […]
Bernie Dunn may have retired from the US Army but he remains on a mission in the Middle East. The Boeing regional president hit a bullseye on December 11 when his team secured an $8 billion deal with Iran Air in the airline’s first plane contract since 1979. The world’s largest aerospace manufacturer beat out its French rival, Airbus, by 11 days. Though Airbus then secured 20 […]
By Ayesha Rascoe and Julia Edwards Ainsley | WASHINGTON WASHINGTON Donald Trump is ready to begin taking executive actions on his first day in the White House on Friday to move quickly on his pledge to crack down on immigration, build a wall on the U.S.-Mexican border and roll back outgoing President Barack Obama’s policies. Trump, a Republican elected on Nov. 8, arrived in Washington on a […]
Submitted by Charles Hugh-Smith via OfTwoMinds blog, You need Insiders who are loyal to an Outsider and an Outsider agenda to accomplish any real reforms. Readers ask a reasonable question: if Trump is a political Outsider, then why has he stuffed his staff with Insiders–Goldman Sachs alumni, generals, etc.? The question follows an understandable logic: wouldn’t an Outsider appoint other outsiders? The doubt expressed also follows a […]
Appoints Industry Veteran Amid Al-Shanteer to Lead Regional Office in Dubai Covering Middle East and North Africa 19 January 2017 FREMONT, Calif.–(BUSINESS WIRE/ME NewsWire) Responding to growing business in the Middle East and North Africa, AlertEnterprise, the leading Silicon Valley based provider of Security Convergence software, has appointed Amid Al-Shanteer as Vice President of Sales for the Middle East and North Africa (MENA) market effective January 16, […]
Etihad Airways is not looking to take a stake in German carrier Lufthansa, a spokesman said on Wednesday, denying a report in an Italian newspaper that sent Lufthansa’s shares higher on Tuesday. “We can confirm that are not looking to take a financial stake in Lufthansa,” the spokesman said, after the Wall Street Journal quoted Etihad Aviation Group CEO James Hogan as saying he was interested in […]
President-elect Donald Trump has been pretty vocal that he intends to repeal Obamacare and replace it with a better healthcare plan that will offer “insurance for everybody.” This move prompted Bernie Sanders to assert that the decision could lead to nearly 36,000 deaths in the U.S. Now according to reports, the “repeal and delay” strategy of the incoming U.S. government could cost millions of people their health insurance. According […]
If this week’s speech by Theresa May on her Brexit plans was designed to reassure the City of London and stop banks from shifting jobs out of the UK, early indications are that it appears to have failed. The prime minister is scheduled to address business leaders at the annual World Economic Forum in Davos Thursday morning, but in the meantime a flurry of senior financiers popped […]
Researchers have developed a general framework to design reconfigurable metamaterials. The design strategy is scale independent, meaning it can be applied to everything from meter-scale architectures to reconfigurable nano-scale systems such as photonic crystals, waveguides and metamaterials to guide heat. (via WSJ)
Net profit of QAR 427 million by the end of 2016 Total Assets rose by 7% to QAR 60.6 billion Loans and Advances grew by 5% to reach QAR 35.2 billion by the end of 2016 Deposits reached QAR 32.2 billion, up 4% from the previous year Doha, January 18, 2017 Al Khalij Commercial Bank (al khaliji) P.Q.S.C, in Qatar, released its consolidated financial statements for the […]
YOUTUBE SAN FRANCISCO – An American journalist has reported on President Rodrigo Duterte’s use of a social media army of trolls to generate fake news and adulatory propaganda and attack his critics. Sean Williams details his finding in an article titled, “Rodrigo Duterte’s Army of Online Trolls,” published in this month’s issue of The New Republic. When Williams was reporting on the violence in the Philippines and in […]
