|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 […]
Carillion, the British company building a number of high profile construction projects across the Gulf region, including building part of the infrastructure for Qatar 2022 World Cup, has collapsed. The implications of the development on the Qatar World Cup are yet unknown. British media reported that Carillion collapse is one of the UK’s biggest corporate failures, leaving the future of some of its Middle Eastern projects unclear. The […]
By Saifur Rahman Indian investors top the list of foreign nationals with Dh15.6 billion investment in Dubai’s real estate in 2017, according to Dubai Land Department. Although this is higher compared to Dh12 billion invested by Indian nationals in Dubai’s real estate in 2016, this is still lower compared to the peak figure of Dh20 billion invested by Indian nationals in 2015, Dubai Land Department statistics show. Indians […]
|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 […]
By Manish Rai Last year in June Saudi Arabia, the UAE, Bahrain and Egypt imposed a land, sea, and air blockade on Qatar for its alleged support to terror outfits and being too close to Iran. The Arab neighbours thought that by imposing this blockade they can pressurise Qatar to set aside its own ambitious foreign policy and toe the line of its bigger neighbours. But during […]
|By Matein Khalid|The rise in Brent crude to $60 a barrel and the trade volume ballast generated by the world’s first post Lehman synchronized economic recovery is hugely positive for UAE economic growth in 2018. After all, the UAE is unique because Abu Dhabi’s 100 billion barrels of proven oil reserves is complemented by Dubai’s role as the Gulf’s financial, logistics, aviation, shopping and services hub. The […]
|By Arabian Post Staff| : The UAE once again captivated the world this New Year’s Eve with a dazzling spectacle to usher in 2018. Emaar’s ‘Light Up 2018’ Downtown Dubai celebration hosted more than a million visitors from across the world and reached an estimated 2.5 billion people worldwide through live television broadcast and social media live streams. The mesmerising laser, light and musical fountain show not only […]
|By Arabian Post Staff| Analysts fear that the GCC mobile phone market could see a slump in the wake of the 2018 VAT roll-out, as it happened in many countries, which saw a pre-VAT buildup of inventories, followed by a major slump in sales. Such concerns come at a time when the region’s mobile phone market is already in a state of flux, with IDC’s latest Quarterly Mobile […]
|By Arabian Post Staff|New sectors such as privatisation, digital banking, fintech and blockchain will all become potentially important growth sectors for job creation in 2018, particularly in Dubai, according to Cooper Fitch Salary Guide for the next year. The economic outlook for the UAE for 2018 shows some good signs of growth, in terms of the creation of new opportunities and increased headcount for the year ahead, within the […]
|By Arabian Post Staff| The UAE budget, which was passed by the Federal National Council on Tuesday, allocates Dh10.4 billion to general and higher education, totalling 20 per cent of the budget. Dh26.3 billion or 51 per cent of the overall budget is dedicated to social development programmes and Dh4.2 billion or 8 per cent to the health sector. Some Dh22.1 billion or 43 per cent of the […]
|By Arabian Post Staff| Rhetoric casting the future of the Middle East as an existential battle between the two regional powers has soared – particularly on the Saudi side – over the past year. However, a direct military confrontation between Iran and Saudi Arabia remains unlikely, Control Risks, the specialist global risk consultancy, has warned that businesses in its Middle East risk map for 2018. Iran and Saudi […]
|By Arabian Post Staff| After posting a 10 per cent year-on-year rise in MENA region profits in 2017, Saxo Bank, the online multi-asset trading and investment specialist, has consolidated its high-performing Dubai station as its regional hub of operations. The double-digit annual profit growth across the region, which has elevated MENA to the company’s third most profitable operation this year, had led Saxo’s Head of MENA, Mario Camara, […]
|By Arabian Post Staff| ADNOC Distribution, the retail and fuel-selling arm of Abu Dhabi’s state-owned oil company, will be valued at $8.5 billion — around the middle of a range of possible valuations — when trading opens on the Abu Dhabi Securities Exchange (ADX) next week. The sale of 10 percent of the unit in an initial public offering (IPO) was oversubscribed “multiple” times by institutional investors, and […]
|By Manish Rai | The Taliban recent attacks on the Afghan security forces in the southern province of Kandahar and Farah intended to demoralize Afghan forces beset by casualties and desertions since NATO combat forces pulled out in late 2014. Recently the insurgents have stormed a number of major police and army bases and government facilities across the country it clearly demonstrates that security is deteriorating across the country […]
|By Arabian Post Staff| UAE-based multinational company, Crescent Enterprises, has announced the successful closing of its investment in ColubrisMX and XCath, two next-generation micro-robotic medical device companies through its newly launched corporate venture arm, Crescent Enterprises Venture Capital (CE-VC). Developed at the University of Texas Medical School’s Microsurgical Robotics Laboratory and incorporated in Texas, USA, both companies design and develop next-generation robotic technologies that are expected to revolutionise […]
|By Matein Khalid|I am often asked by investors to articulate my “philosophy” of real estate investing. Tough question. My ideal deal is one where it is possible to buy brick and mortar assets at 60 – 70% of replacement cost. This usually occurs in the aftermath of a banking crisis or economic shock. This was the case in Florida homes in 2009 or Spanish office space in […]
|By Arabian Post Staff|ADNOC plans to explore and appraise Abu Dhabi’s unconventional gas resources, as the company seeks to enable future value creation from its untapped gas resources, the company announced. ADNOC will spend over AED 400 billion over the next five years, as it embarks on its Upstream and Downstream expansion and growth projects, the company announced. The Supreme Petroleum Council (SPC) approved ADNOC’s key strategic […]
|By Arabian Post Staff| Boeing and flydubai signed a landmark agreement for 225 737 MAX airplanes with a list price value of $27 billion. The deal represents the largest-ever single-aisle jet order – by number of airplanes and total value – from a Middle East carrier. Signed at the 2017 Dubai Airshow in flydubai’s hometown, the agreement includes a commitment for 175 MAX airplanes, and purchase rights […]
By Saifur Rahman Emirates Group, which include Emirates Airline and its ground handling and ticketing arm Dnata, today reported a 77 per cent jump in net profits to Dh2.3 billion (US$631 million) for the first half of the 2017-18 financial year, starting from April 1, 2017, up from Dh1.3 billion (US$364 million) recorded in the first half of its last financial year – in what is perceived […]
|By Arabian Post Staff| Abraaj Group, the emerging markets-focused private-equity firm, is delaying the initial public offering of South African food and household products maker Libstar Holdings Ltd., reports quoting people familiar with the matter said. The firm had been working with JPMorgan Chase & Co. and Standard Bank Group Ltd. on a sale expected to raise about $300 million, aaccordding to these reports. Abraaj, which bought […]
|By Arabian Post Staff|With the official implementation of Valued Added Tax (VAT) across the GCC coming into effect in January 2018, a majority of industries in the Gulf, including the burgeoning food production and manufacturing sphere, are worried about the ripple effect of the region’s first applied taxation. The Business Talks Conference will see top decision makers and market leaders gathering to outline, discuss and debate the […]
|By Arabian Post Staff|Saudi Crown Prince Mohammed bin Salman put the kingdom somewhat in the ‘Dubai mode’ announcing the launch of an initiative backed by more than $500 billion investment to transformation of the kingdom into a leading global hub through the introduction of value chains of industry and technology. The plan, known as Neom, spires to make the country the “safest, most efficient, most future oriented, […]
|By Arabian Ppost Staff| DP World Limited claimed that its nine-months performance exceeded projections handling 52.3 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals, with gross container volumes growing 9.6% on a like-for-like basis, with the third quarter growth rates accelerating to 13.5% year-on-year. This is against Drewry Maritime’s upgraded industry estimate of 5.5% throughput growth in 2017. Global trade outlook improved significantly […]
|By Arabian Post Staff| Latest property transactions data released by the Dubai Land Deparment clearly shows an increasing demand across all property categories, including land plots, buildings and residential units, according to Director General Sultan Butti bin Mejren. This indicates Dubai is attracting a wide variety of investors, he added. Dubai Land Department (DLD) announced that the total value of real estate transactions for the first nine […]
