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 […]
In the past, gambling was seen as something ‘other’. It was something that only the rich would and could do, and unless you had a huge fortune then gambling was always a mistake – it would lead to big financial problems and potentially ruin your life. Thankfully, a lot has changed since this idea was first circulated. Today, gambling at Barbados – as long as you are […]
We all know that the internet changed slot machines forever, which once were loved well by gamblers and pub goers alike in the casinos, arcades and pubs all over the UK that just wanted to have a bit of fun, and during a time where getting a win was just an added bonus so that you could get some money for more beer or you could win […]
Arabian Post Staff Dubai-based DP World has agreed to acquire a majority 51% stake in TIS Container Terminal in the Port of Yuzhny, Ukraine, subject to the satisfaction of certain conditions, including regulatory approval. Bringing the TIS Container Terminal into DP World’s global network of ports, economic zones, warehousing, and inland logistics solutions will strengthen its position as the market-leading terminal of Ukraine. This latest acquisition also […]
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 […]
By Matein Khalid My tactical idea last week to recommend buying sterling against the US dollar (cable) at 1.30 for a 1.34 target is 200 pips in the money now that the Bank of England kept the policy rate unchanged at 0.75% despite Governor Carney’s smoke signals. Sterling closed at 1.32 on Friday evening and will be well bid next week – hopefully. I expect Governor Bailey […]
Dubai-based Finalrentals makes it possible to rent a car globally By Arabian Post Staff When traveling abroad, people often try to search for a car online from unknown platforms, resulting in situations where customers feel they didn’t get the service they’d hoped for. But Finalrentals has changed all that. Finalrentals is a startup born in Dubai, United Arab Emirates. After creating the best online car rental experience for tourists and […]
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 […]
Arabian Post staff Dubai-based Wafi Group has acquired the UK’s Craig Bragdy Design (CBD) to establish a new business venture. A small family business in ceramics, started in Wales by Rhys and Jean Powell, the company is now managed by the founder’s two sons Nick and Shon Powell and is an established enterprise that creates art-based products for use in architectural settings. The new company in Dubai […]
By James M. Dorsey Disclosures of taped phone calls between embattled former prime minister Najib Razak and a person believed to be United Arab Emirate crown prince Mohammed bin Zayed go a long way to explain Malaysian efforts to counter UAE and Saudi influence in the Muslim world. The disclosures are the latest incident in what have been complex, if not strained relations with the UAE and Saudi Arabia […]
DUBAI: Internet has changed the way the health sector in some of the African countries operates. Better internet and mobile connectivity have brought huge benefits to hospitals and health professionals. For instance, doctors and health care workers in the region are now able to exchange information in real-time, thereby improving disease diagnosis and patient management. Similarly, medical staff can now use video conferencing to consult with other […]
Emaar, the master developer of the Burj Khalifa, wowed over 2 billion people across the globe with a breathtaking pyrotechnic show on the world’s tallest building to ring in 2020. In a mesmerising story, the Burj Khalifa transformed through animation, light, sounds and a synchronized fountain show taking viewers on a journey at the onset of a new decade. Following the traditional 10 second digital countdown on […]
By Matein Khalid I had recommended buying the Tadawul ETF iShares MSCI Saudi Arabia (symbol KSA on NYSE) on November 30 to benefit from the post-IPO surge in the price of the Saudi Aramco IPO shares on the Tadawul. This tactical trade was a beauty even before Saudi Aramco shares soared 20% on its Thursday December 12 to peak at 38.7 Saudi riyals (SAR). As I expected, […]
By Arabian Post Staff Saudi Arabia has unveiled a 2020 budget that projects a budget deficit of 6.4 percent of GDP. This is much higher than the figure for 2019, which was estimated at 4.7 percent. The 20220 budget indicates total expenditures of SAR 1,020 billion, and SAR 833 billion of projected revenues. For FY 2019, it is expected that the actual expenditures will reach SAR 1,048 billion and total actual revenues are expected […]
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 Landmark Group announced the opening of its fully-automated Mega Distribution Centre (DC) at JAFZA, Dubai – the largest of its kind in the GCC. The Group invested over AED 1 billion with a firm strategy to further strengthen its supply chain capabilities and build a facility that can serve as a logistics and distribution hub for the region. The Mega DC will also […]
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 […]
By Matein Khalid I first encountered Lebanon as a teenager after the fabled Choueifat College opened its first UAE campus in Sharjah, fleeing the civil war in the Chouf. My ignorance of the country I was to know and love as my own patrie was monumental. When a classmate told me he was a Darzi, I assumed his father was a tailor since Darzi means “tailor” in […]
Research and advisory firm Oxford Business Group (OBG) will launch The Report: Dubai 2020, its new analysis of the emirate’s economic development and investment opportunities, on Monday, December 9 at Nasdaq Dubai, The Exchange Building, DIFC. The event will include a roundtable, titled “Dubai Beyond Expo 2020”, at which leading representatives from the public and private sectors will share their views on how best to ensure the legacy of the world expo benefits the […]
By Arabian Post Staff More than US$500 billion (Dh1.8 trillion) worth of family wealth will be passed on to the next generations in the Middle East and North Africa (MENA) region within the next decade, experts at the 4th Wealth Arabia Summit (WAS) said on Tuesday. According to WealthX, a global intelligence solutions provider, more than US$15 trillion worth of family wealth will be passed over to the […]
By Arabian Post Staff Air Arabia, the Middle East and North Africa’s first and largest low cost carrier, has signed a firm order for 120 Airbus aircraft comprising 73 A320neos, 27 A321neos and 20 A321XLRs. The agreement was signed at the 2019 Dubai Airshow in the presence of Air Arabia’s Chairman Sheikh Abdullah Bin Mohammed Al Thani, Adel Ali, Chief Executive Officer Air Arabia and Guillaume Faury, […]
By Arabian Post Staff The changing landscape of the US$360 trillion (Dh1,321 trillion) global wealth is now more than four times the global GDP of US$88 trillion. The wealth per adult reached a new record high of US$70,850, or 1.2% above the level of mid-2018 with Switzerland topping the biggest gains in wealth per adult this year, according to a latest report by Credit Suisse. Aggregate global […]
By Saifur Rahman Dubai: Emirates Group, which includes Emirates Airline and its ground handling and ticketing arm Dnata, reported an 8 percent growth in profits to Dh1.2 billion (US$320 million), despite a 2 percent decline in group revenues to Dh53.3 billion (US$14.5 billion) for the first six months of 2019-2020 financial year, starting April 1, 2019, compared to Dh54.4 billion (US$14.8 billion), during the same period last year, due to unfavourable […]
