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|By Arabian Post Staff| The Sharjah Petroleum Council (SPC) announced it is inviting petroleum exploration and production companies and investors to bid in an inaugural onshore acreage licencing round covering three Concession areas. SPC has appointed Sharjah National Oil Corporation (SNOC) to conduct the licencing round, which will open on 25th June,offering companies 30-year contracts with a 10-year extension. “Sharjah has always strongly supported private investment, providing the appropriate economic environment to encourage sustainable […]

Dubai property developer Danube Properties announced the launch of its 11th project, a Dh550 million Lawnz at the International City.Construction of the project is expected to start in 2018 with completion in 2020. Lawnz is Danube Properties’ first project at the International City and its first gated complex. “This is our biggest project so far that will add 1,064 units to our existing portfolio and we are […]

​ |By Matein Khalid| Crude oil prices plunged by 7% in two sessions as Saudi Arabia and Russia confirmed that they would release 1 million barrels a day in the wet barrel markets. Speculative froth in the oil futures markets vanished, to be replaced by a new trading calculus based on the realities of supply and demand – as well as the unknowable (and unquantifiable!) arc of […]

|By Saifur Rahman, Executive Editor|  The International Monetary Fund (IMF) finally recognised the Islamic banking principles by endorsing a proposal on the use of the Core Principles for Islamic Finance Regulation (CPIFR), according to a statement. This effectively means that the IMF now accepts Islamic financial principles to become a globally accepted system in parallel to the conventional interest-based economy.  “The CPIFR will complement the international architecture for financial […]

The Ministry of Climate Change and Environment (MOCCAE) and the International Center for Agricultural Research in the Dry Areas (ICARDA) signed a Memorandum of Understanding (MoU) to strengthen research in forage production in the UAE. The MoU was signed by Sultan Alwan, Assistant Undersecretary of the Regions Sector at MOCCAE, and Dr Aziz Awlad Bilqasim, Regional Coordinator for ICARDA. Speaking on the partnership,  Sultan Alwan said that the […]

 Etisalat Digital announced that it has signed strategic partnerships with four scale-ups as part of the ‘Dubai Future Accelerators Program,’ the world’s largest governbment supported accelerator.  The 4th cohort of the ‘Dubai Future Accelerators’, launched in March this year with the participation of Etisalat Digital and other government bodies and in cooperation with the world’s most innovative companies, came to a close on xx May. The program […]

|By Arabian Post Staff| Emirates Group reported a 67 percent jump in net profits to $1.1 (Dh4.1 billion) billion in 2017-18 financial year ending March 31, 2018 compared to the previous year, with revenues reaching $27.9 billion (Dh102.4 billion), crossing the Dh100 billion mark for the first time in the history of the 32 year old airline group that includes Emirates Airline and its ground handling and ticketing arm, […]

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|By Matein Khalid| I had written an article titled “six reasons to be bullish Saudi equities in 2018, published in the KT on January 28. Yet I was surprised to see Saudi Arabian equities become the world’s second best performing stock market in 2018 after Egypt. The Saudi equity index fund (KSA) I recommended in my column is up 18% at a time when the MSCI emerging markets […]

By Matein Khalid A dismal legacy of civil war, sanctions, insurgency, foreign invasion and terrorism has had a catastrophic impact on the Iraqi economy. Prime Minister Haider al-Abadi told the assembled global elite at Davos 2018 that Iraq needed $100 billion in postwar construction. Yet money alone will not solve Iraq’s problems of systemic corruption, a society divided by sectarian cleavages, poverty, the displacement of 2 million […]

By James M. Dorsey Saudi Crown Prince Mohammed bin Salman’s investment of $1 billion and option to pump a further $480 million into Richard Branson’s ventures in space, confirmed during the prince’s recent visit to the United States, was more than just another headline-grabbing move. By focusing on space sciences, long a field rejected by ultra-conservative Islamic scholars, some of whom insist that the earth is flat, Prince […]

By James M. Dorsey Iranian leaders are struggling, three months after anti-government protests swept the Islamic republic, to ensure that environmental issues that helped sparked a popular uprising in Syria in 2011 leading to a brutal civil war don’t threaten the clergy’s grip on power. Like Syria, Iran has been confronting a drought that has affected much of the country for more than a decade with precipitation dropping to its lowest […]

By James M. Dorsey When Miguel Torres, scion of an iconic Spanish winemaking dynasty, described the impact of the Catalan quest for independence on his more than a century-old business in a letter to wine writer Andrew Jefford, little did he realize that he had put his finger on one of the current world’s most fundamental battles: nationalism and populism vs. inclusive multi-culturalism.  It is a struggle that is tearing […]

By James M. Dorsey In his effort to improve Saudi Arabia’s badly tarnished image and project the kingdom as embracing an unidentified form of moderate Islam, Saudi Crown Prince Mohammed bin Salman has hinted that he envisions a conservative rather than an ultra-conservative society, but not one in which citizens are fully free to make personal, let alone political choices of their own. Prince Mohammed’s vision, although […]

|By Arabian Post Staff| The Abu Dhabi National Oil Company (ADNOC) announced the signing of two historic agreements awarding Italy’s multinational oil and gas company Eni stakes in two of Abu Dhabi’s offshore concession areas. Eni joins an Indian consortium, led by ONGC Videsh, and Japan’s INPEX as stakeholders in the Lower Zakum concession. The awards mark the first time an Italian energy company has been given concession rights in Abu Dhabi’soil and gas sector. […]

|By Arabian Post Staff| Saal, an innovative technology company based in Abu Dhabi, has launched saal.ai – a revolutionary artificial intelligence (AI) framework, an enabler, ready to transcend and redefine current practices across industries and fuel economic and social growth. Capable of cognitive tasks such as reasoning, inference and retrieval, using data collected from multi-modal sensor inputs, saal.ai uses advanced computing and machine learning techniques to perform actions in the AI […]

While there are many ways in which medical science is using digital techniques and artificial intelligence (AI) to make life-saving decisions., the science and art of animation holds the potential to help revolutionize healthcare. Once the province of movies and cartoons, more realistic computer-generated imagery in medical science is providing solace to patients undergoing harsh treatments. And at the meeting point of movies and medicine, doctors are […]

|By Arabian Post Staff|A buoyant GCC Bond and Sukuk market achieved an all-time high issuance of USD 70 billion in 2017, with sustained investor appetite expected in 2018, according to a co-authored white paper from Emirates NBD Asset Management (Dubai) and Fisch Asset Management (Zurich). The paper, titled “The GCC Fixed Income Market: Then and Now” identifies key themes in 2017 and provides an outlook for the […]

|By Matein Khalid| I had projected a bloodbath in the US Treasury bond market since late 2016, when it was obvious that Trump’s tax reform would double the US budget deficit at the same time as the Federal Reserve prepared to “normalize” or shrink its balance sheet by $470 billion. Fiscal stimulus is often a policy ballast amid a depression, as in the early 1980’s or 2009, not […]

|By Arabian Post Staff|Emirates Airline has signed a Memorandum of Understanding (MoU) to acquire up to 36 additional A380 aircraft. The agreement was signed this morning at the airline’s headquarters in Dubai by Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group, and John Leahy, Chief Operating Officer Customers, Airbus Commercial Aircraft. The commitment is for 20 A380s and an option for […]

|By Arabian Post Staff| The Abu Dhabi National Oil Company (Adnoc) is planning to significantly expand its use of Carbon Capture, Use and Storage (CCUS) technology to meet a six-fold increase in the utilization of CO2, for Enhanced Oil Recovery (EOR), over the next 10 years. The volume of the greenhouse gas safely locked away underground will be equivalent to the CO2 emitted by more than one million motor […]

|By Arabian Post Staff| Abu Dhabi Securities Exchange (ADX) has signed a Memorandum of Understanding (MoU) with the Society for Worldwide Interbank Financial Telecommunication (SWIFT) and seven leading global Central Securities Depository (CSD) companies to collaborate on Distributed Ledger Technology (DLT) implementation in post trade operations, as well as capital market transactions. Today, securities processing, particularly in areas requiring multi-party contact and involving extremely cumbersome manual processes carry […]

|Mark Ackerman| Automation has the ability to transform society for the better. Every day I see the powerful impact it can have, revolutionising the way business and everyday tasks are done, saving time, money and delivering game-changing economics. It will increase productivity, which is essential for future growth and prosperity. It will also see the end of employees spending time on mundane, repetitive tasks, instead freeing up […]

|By Matein Khalid| When I first started on a Treasury bond futures trading desk in New York fresh out of Wharton, a senior mentor once advised to keep track of the four heartbeats of gold finance in real time. The price of money (interest rates), the price of currency (the US dollar), the price of oil and the price of gold.   The price of money can be […]

|By Arabian Post Staff| DP World’ made a capital spending of over $1 billion in 2017 for a series of acquisitions, technology tie-ups and other activities, the company said in a statement. These investments saw the global trade enabler expand its business horizons across the world during the year. The expansion at Prince Rupert in Canada opened for business, DP World Limassol in Cyprus opened a new […]

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