The Dubai Mercantile Exchange (DME), the premier international energy futures and commodities exchange in the Middle East, has launched ‘DME Auctions,’ a new platform that will provide a transparent spot commodity auction system for the first time in the region. It will provide commodity market participants with the flexibility to buy and sell physical energy products and other commodities in the Middle East and beyond via an […]
Kuwait’s government spending in August stood at KD4.2 billion ($13.91 billion) fiscal-year-to-date (fytd), marking 22 per cent of the FY15/16 budget, slightly above the historic average of 14 per cent, a report said. The figure, while being 6 per cent lower than during the same period last year, indicates that spending cuts have not yet been fully reflected in the interim figures, added the latest Economic Update […]
Abu Dhabi Islamic Bank (ADIB) has raised Dh504 million ($137 million) in its rights issue, which was nearly three times oversubscribed with Dh1.46 billion in subscriptions received. The rights issue, the first tradable rights issue for a bank in the UAE, forms part of the comprehensive capital plan to support ADIB’s strong growth plans. Following the close of the subscription period on September 10, all 168 million […]
Microsoft has announced that Almoayyed Computers, the flagship division of Almoayyed International Group, has won the ‘Microsoft Country Partner of the Year 2015 Award for the Kingdom of Bahrain’. Awards were presented in several categories, with winners chosen from a set of more than 2,300 entrants from 108 different countries worldwide. Almoayyed Computers was honoured among a global field of top Microsoft partners for demonstrating excellence in […]
Egypt-listed Global Telecom (GTH) will move its operational headquarter to Amsterdam from Cairo, the firm said in a statement on Monday. “The strategic move is a natural evolution in GTH’s development following VimpleCom’s acquisition of a 51.9 per cent stake in 2011 and the reorganisation plan announced by the company on January 4, 2015,” it said. The firm will continue to have a registered office in Cairo […]
Bahrain’s leading telecommunications operator Batelco has announced its platium sponsorship for the upcoming Shreya Ghoshal Live in Concert event. The major musical event will take place during the Eid Al Adha holiday on September 24 at the Indian School grounds, and is expected to attract a huge multicultural audience, said a statement. Batelco annually supports a wide range of initiatives across a number of sectors including health, […]
Growth in the number of people with access to the Internet is slowing, and more than half the world’s population is still offline, the United Nations Broadband Commission said on Monday. Internet access in rich economies is reaching saturation levels but 90 per cent of people in the 48 poorest countries have none, its report said. The access growth rate is expected to slow to 8.1 per […]
A senior French economic and political delegation is in Tehran to lay the groundwork for the first business contracts between France and Iran since an accord to curb its nuclear programme in July. France’s main business lobby group, the Medef, is sending a delegation comprising more than 100 firms to Iran, including companies such as oil major Total, planemaker Airbus and car manufacturer Peugeot. “We’re trying to […]
The crew of craftsmen at Nashville-based Railyard Studios designs and hand-builds unique furniture using century-old reclaimed railway materials. Rustic, industrial age tables, desks, storage, seating, and more, all with original details like maker’s marks, and reclaimed “date nails” that denoted when the rail was 1st installed. This entry passed through the Full-Text RSS service – if this is your content and you’re reading it on someone else’s […]
QATAR. On Sept. 18, 2015, Standard & Poor’s Ratings Services affirmed its ‘AA’ long-term and ‘A-1+’ short-term foreign and local currency sovereign credit ratings on the State of Qatar. The outlook is stable. We also affirmed the ‘AA’ long-term issue ratings on the bonds issued by Qatari Diar Finance Q.S.C. and SoQ Sukuk A Q.S.C. RATIONALE Qatar is a wealthy economy; we estimate its GDP per capita […]
ADEN // With the help of the UAE, 33 schools in Aden were reopened on Sunday, after the Emirates Red Crescent rebuilt more than 154 schools in the Yemeni southern port that were damaged or destroyed in fighting with the Houthi rebels. Dr Mohammed Atiq Al Falahi, secretary general of the ERC, said that all of Aden’s students would be able to return to school after the […]
DUBAI // The late Sheikh Rashid bin Mohammed has been remembered as a “noble knight” who raised the flag of the UAE, as tributes continued to flow after his death on Saturday. Condolences were offered on Sunday at Zabeel Palace to Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, for the death of his eldest son after a heart attack at the age of 33. […]
SHARJAH // Commuters are hoping for an easier ride with the completion of phase one of the multi-million dirham upgrade of King Faisal Road. The Dh11.4 million project, which started in July, caused daily traffic jams along the busy stretch of motorway. Phase one was completed last Thursday when the road towards the Central Market was opened, said Sharjah Roads and Transport Authority. Work on the lanes […]
EDIRNE, Turkey — Doaa, a 25-year old Syrian, was lying in the shade one day last week, trying to shelter herself from the scorching sun in a makeshift camp near this northwestern border city. A pile of blankets next to her quivered, and a tiny hand emerged. Her son, Nassim, was just a week old. Doaa had walked out of a hospital in Istanbul a few days […]
SANA, Yemen — A Saudi-led military coalition bombarded government buildings and residential neighborhoods in Sana, the Yemeni capital, overnight on Saturday, killing more than two dozen people, officials and witnesses said, and destroying homes in Sana’s Old City, a Unesco World Heritage site. The Saudi coalition, which includes nine other Arab nations and is supported by the United States, began fighting Yemen’s Houthi rebels in March, two […]
LONDON — Russia’s military buildup in Syria now includes surface-to-air missiles as well as combat aircraft with air-to-air capability, deployments that raise “serious questions” about Moscow’s role in the region, Secretary of State John Kerry said Saturday. Russian officials have said that the purpose of the buildup at a base near Latakia, Syria, is to combat the Islamic State. But the deployment of air defense systems and […]
INTERNATIONAL. The era of the autonomous vehicle (AV) is fast approaching. Mass-market adoption of AVs will be the greatest inflection point for the automotive industry since the introduction of the assembly line and will confer tremendous benefits on society, according to a new report from The Boston Consulting Group (BCG). The report, titled Revolution Versus Regulation: The Make-or-Break Questions About Autonomous Vehicles, is being released today. It […]
INTERNATIONAL. Emerging Asian economies remain a challenging operating environment according to new risk ratings released today. In their first jointly produced economic and political risk ratings, Oxford Economics and Control Risks have evaluated the outlook for 164 countries worldwide, producing for each country a score based on a weighting of key political, economic, business and security risks. The ratings, drawn from the new Economic and Political Risk […]
UAE. Forbes Middle East has unveiled the names of its Most Powerful Arab Women for 2015 at a glittering awards ceremony that shone a light on some of the region’s most influential and accomplished leaders. The impressive event recognized the achievements of women in reaching the top of their fields in business and government and, in doing so, working towards a fairer and more equal working environment […]
ADEN // Relatives of Yemeni loyalist fighters killed by Houthi rebels thanked the UAE for its support on Friday, as the Emirates Red Crescent (ERC) helped families in Aden buy new clothes for Eid Al Adha. “I cannot describe my happiness today. I got the clothes that will enable me to celebrate this Eid”, said Waleed Abdullah, 14, whose father Saleh was killed in fighting in July. […]
Middle East By ISABEL KERSHNER September 18, 2015 JERUSALEM — Mahmoud Abbas, president of the Palestinian Authority, called Pope Francis to brief him on the “ongoing Israeli aggression in occupied East Jerusalem, and particularly against Al Aqsa Mosque.” Benjamin Netanyahu, the Israeli prime minister, told the United Nations secretary general, Ban Ki-moon, that “Israel is acting against the violence on the Temple Mount” and “is strictly maintaining the status […]
Tumblr co-founder Marco Arment, who developed the most popular paid ad-blocker on Apple Inc’s (AAPL.O) U.S. app store, has pulled the product, citing concerns that the tool could hurt independent Web publishers. In a blog post on Friday, Arment, wrote on the social media site that he was pulling his “Peace” app because he does not feel that it is his role to decide what content is […]
ABU DHABI // European nations need a unified response to the refugee crisis to prevent the situation from worsening, a senior Italian official has said. Andrea Orlando, the country’s minister of justice, said there should be a common policy to deal with the hundreds of thousands of people who are fleeing conflict in Syria, as well as Iraq and Afghanistan, to head to the European Union. “Italy […]
Everyone needs a pocket knife. And if you’re like us, you need 2 or 3 drawers full of them. The flat, laser-cut Swiss-made Crono fans open to reveal a bottle opener, fish scaler, wire stripper, metric ruler, 4 hex wrenches, a knife blade, bradawl and sewing awl, a fork, & a screwdriver. This entry passed through the Full-Text RSS service – if this is your content and […]
