19 November 2016 Doha, Qatar: Commercial Bank, Qatar’s first private bank, is proud to announce it has won the “Best Cash Management Bank in Qatar” award at The Asian Banker Middle East & Africa Transaction Banking Awards 2016, held in Dubai. The Asian Banker is an authoritative provider of strategic business intelligence to the Asian financial services community. Judged by an international board of advisors, applicants were […]
1979: A threatening revolution Saudi Arabia, a young country pieced together only in the 1930s, has built its legitimacy on religion. By promoting its stewardship of the holy sites at Mecca and Medina, it could justify its royal family’s grip on power. Continue reading the main story Iran’s revolution, in 1979, threatened that legitimacy. Iranians toppled their authoritarian government, installing Islamists who claimed to represent “a revolution […]
Iuna Al Hashemi remains remarkably calm as she discusses the “very challenging” business year for Bahrain’s national telco, Batelco. Once a monopoly, Batelco is now facing a crowded market, with strong competition from Kuwait’s Zain and Saudi Telecom Company-owned VIVA, as well as about ten internet providers for 1.4 million residents. Current economic conditions are making it increasingly difficult to keep up margins. Batelco Group, the […]
Facebook unveiled a share buyback scheme on Friday, saying it would repurchase up to $6bn of its stock as its investors brace themselves for slower growth next year. In a regulatory filing, Facebook said that the board had approved the buyback on Friday. It will begin in the first quarter of 2017 but the scheme has no set expiration, leaving Facebook the flexibility to be opportunistic if […]
19 November 2016 • 46 Emirati enterprises from diverse sectors among beneficiaries• “Our goal is to boost SME productivity and sustainability,“ says Abdul Baset Al Janahi• Dubai Holding CEO: We are aligned with the government’s agenda to develop the SME sector, and committed to supporting Emirati entrepreneurs Dubai, 19 November 2016: Members of Dubai SME, the agency of the Department of Economic Development (DED) mandated to develop the small and […]
From Fortress Capital: Let’s face it – investing is difficult! Gone are the days of saving for retirement. The average savings account in the USA pays less than 1%. Fortunately for most investors the stock market has been going up and up, but it’s going to correct (it always does). But it hasn’t been a good ride for all investors. Many retirees now living off their retirements are […]
By Patrick Rucker | WASHINGTON WASHINGTON A leading U.S. bank regulator on Friday reversed course and positions the agency to claw back pay of former executives at Wells Fargo & Co after a phony-accounts scandal. The lender must also now seek prior approval before naming new bank leadership, said the Office of the Comptroller of the Currency, the main regulator for federal banks. Friday’s move puts executive […]
19 November 2016 Kuwait City, Kuwait: Ooredoo, the fastest network in Kuwait in 2016, is proudly partnering with Murouj to bring to you Murouj Market, a monthly weekend market for local entrepreneurs and businesses. The market, which is held in Murouj Complex, includes local farm produce, artisanal food products and crafts, with a ‘street food’ section aimed at highlighting the culinary diversity of Kuwait’s local food community. […]
Committed to keeping Dubai a competitive shopping destination: Mohammed Ali Rashed Lootah Dubai, 18 November 2016 The Department of Economic Development has trained 100 employees from Dubai Parks and Resorts, the region’s largest integrated theme park destination, to conduct compliance checks as part of its ‘Self Inspector’ programme. Under the programme launched last year by the Commercial Compliance and Consumer Protection (CCCP) sector in DED, employees nominated […]
The last time we encountered David Brock, Hillary Clinton’s so called media “attack dog”, was two months ago when we exposed a money laundering scheme involving over a dozen of his Pro-Clinton SuperPACs. Now, it appears that unable to concede defeat, the man who aligned his career with Hillary Clinton, is going for blood, and is soliciting the help, but mostly money, of Clinton’s top donors. According […]
Challenges and solutions concerning entrepreneurial strategies discussed at length by public and private sectors during dialogue hosted by Dubai Chamber of Commerce and Industry and MEED, organisers of Innovation Live! The need for introducing a platform as a ‘one-stop shop’ for starting business in the UAE identified as key to progress. Dubai, UAE, 18 November, 2016 The inaugural Innovation Live!, an official anchor event for UAE Innovation […]
|By Ramesh Mahalingam| As someone who has worked in businesses across the ownership spectrum, I am tempted to pose this question to all aspiring CFOs: All other factors being equal, what is the fundamental difference in the approach to the financial reporting function as between a publicly listed company and a privately-owned business? The answer lies not in the IFRS standards, which by and large, do not […]
November 17, 2016 by: Anjli Raval, Oil and Gas Correspondent Worries are growing that a build-up of unsold oil off the coast of the UK will keep prices down as the broader market surplus increases pressure on Opec to cut production. Industry analysts and shipbrokers said an excess of light sweet crudes, has led to a surge in the number of Aframax tankers — which carry around […]
Rising market expectations for growth and inflation were not the only things behind the selling pressure on US Treasuries after the US election. One gauge of long-term Treasury market risk known as the term premium has also climbed. The day after the election of Donald Trump as the next US president, the 10-year term premium made its biggest single-day jump since 2011. The move was within the […]
Photo Nusra Front fighters in Idlib Province, Syria, in 2015. In what analysts say is a calculated move to hide ties to Al Qaeda, the Nusra Front recently rebranded itself and changed its name to Jabhat Fath al-Sham, or the Levant Conquest Front. Credit Ammar Abdullah/Reuters American officials accuse him of being part of the “inner leadership circle” of Al Qaeda’s Syrian affiliate, most widely known as […]
Federal prosecutors have charged a former Valeant manager and the former chief executive of Philidor, a defunct pharmacy chain, alleging the pair operated an illegal kickback scheme to personally enrich themselves to the tune of tens of millions of dollars. New York prosecutors alleged that Gary Tanner of Valeant and Andrew Davenport of Philidor secretly worked together to promote a deal under which the Canadian drugmaker purchased […]
Saudi Arabia’s Public Investment Fund (PIF), its main sovereign wealth fund, said on Thursday it had filled key posts as part of plans to expand investment capacity and help reduce the kingdom’s dependence on oil income. Under economic reform plans announced early this year, the government has said it aims eventually to expand the PIF, founded in 1971 to finance development projects in the country, from $160 […]
Swiss International enters Riyadh with Swiss International Royal Hotel and Swiss Spirit Hotel & Suites Metropolitan Baar (CH)/ Ras Al Khaimah (UAE)/ Riyadh (Saudi Arabia), November 17, 2016 – Gearing up to boost its presence in Saudi Arabia, Swiss International proudly announces the arrival of its first 2 hotels in Riyadh. The chain will be entering the capital city with Swiss International Royal Hotel and Swiss Spirit […]
BANGKOK Thailand’s Charoen Pokphand Foods Pcl (CPF) (CPF.BK) said it will acquire U.S. frozen-food producer Bellisio Parent LLC for $1.075 billion, paving the way for an entry into the world’s largest food market. The acquisition is in line with CPF’s strategy to expand into high-potential markets, CEO Adirek Sripratak said in a statement. CPF, controlled by Thailand’s richest man Dhanin Chearavanont, signed a purchase agreement on Thursday […]
Wednesday 09:20 GMT. European stocks are tracking a mostly positive showing in Asia as Wall Street eyes record highs on hopes the Trump administration’s pledge of infrastructure spending and tax cuts will boost the US economy. The dollar and government bond yields are a touch firmer, keeping gold and industrial commodity prices in check. After the FTSE Asia-Pacific equity index rose 0.6 per cent, the pan-European Stoxx […]
BERLIN The new chief executive of Hugo Boss (BOSSn.DE) said he expects to return the struggling German fashion house to growth in 2018, announcing plans to simplify its brand portfolio and adjust prices in a bid to appeal to younger customers. Mark Langer, the former finance chief who was appointed CEO in May, said the company will focus in future on two main brands – upper premium […]
The visiting delegation explored the Foundation’s programs and initiatives, and toured the Dubai Future Accelerators headquarters Dubai, November 15, 2016 Global future experts in Dubai to attend the two-day Annual Meeting of the Global Future Councils paid a visit to the Dubai Future Foundation’s headquarters in Jumeirah Emirates Towers Offices. The Foundation presented a number of its initiatives to the visiting delegation. This included items on display […]
Three global trends are reshaping GCC travel distribution business models and threaten to weaken the connection between airlines and customers Rise of digital technologies risks weakening connection between airlines and customers In the Middle East, there is growing internet penetration, with a rapid rise in the use of mobile – around 15% of internet users use only mobile for access By getting closer to […]
Political advertising may get more attention but with Election Day hours away, a liberal super PAC is betting direct outreach to voters is actually more effective. For Our Future has “a goal of 8,093,518 knocks by Election Day,” according to its most recent publicly posted strategy memo. The group was formed last June and supports Democratic presidential nominee Hillary Clinton and Democratic candidates for Congress, including U.S. […]
