By Matein Khalid I had published a column in the UK/MENA press arguing that the Uber IPO was “absurdly valued” last week. I was vindicated with a vengeance when Uber priced its IPO at 45, well below the level Saudi Arabia’s uber-sovereign wealth fund PIF invested $3.5 billion in the hose of Travis (now Dara) three years ago. Uber opened on the NYSE with a whimper, not […]
|By Arabian Post Staff| Groundbreaking for the UAE’s first tyre manufacturing plant by Chinese tyre company Roadbot was performed at KIZAD, Abu Dhabi’s industrial hub and part of Abu Dhabi Ports. Developed with a total investment of AED 2.2 billion ($614.37 million), the Roadbot factory is being built in KIZAD’s China-UAE Industrial Capacity Cooperation Demonstration Zone in line with international standards and equipped with latest innovative solutions […]
By James M. Dorsey The failure of Western allies to rally around Canada in its dispute with Saudi Arabia risks luring the kingdom into a false belief that economic sanctions will shield it from, if not reverse mounting criticism of its human rights record and conduct of the war in Yemen. It also risks convincing Saudi Crown Prince Mohammed bin Salman that acting with impunity will not impinge on […]
|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 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, […]
By James M. Dorsey A Saudi Moroccan soccer spat speaks volumes about the depth of change in the Arab world. The spat over Saudi Arabia’s refusal to support a Moroccan bid for the hosting rights of the 2026 World Cup tells the tale of the rise of individual country nationalism at the expense of Arab solidarity, Saudi determination to safeguard its alliance with the United States at whatever cost, […]
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 […]
Heart Disease – An infographic by GeriatricNursing.org Every year over 1.2 million people suffer from a heart attack due to coronary heart disease. The probability that a person may die from heart attack is 40 out of 100. According to the latest estimations, more than 335,000 of these heart attack patients are estimated to die even before reaching the hospital or the emergency ward. In 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 Matein Khalid|Emaar Properties will sell 20% of its UAE development portfolio in an initial public offering in November. This is the first IPO in the UAE capital markets in the last three years and follows bellwether offerings such as Emaar Malls and Emaar Misr. Emaar’s Dubai development’s adjusted net value is 24.1 UAE dirhams and I would not be surprised if the post IPO revalues the […]
|By Arabian Post Staff| NRI Emirati Investors Group, a new UAE-based group formed by the Business Leaders Forum (BLF), announced that it will raise US$1 billion (Dh3.67 billion) in commercially viable big-ticket projects in India. The announcement was made at the inaugural two-day India-UAE Partnership Summit (IUPS) taking plae at the Armani Hotel, Burj Khalifa, Dubai. This would be the largest such collective fund-raising programme by a […]
A festival, unlike, say, a concert or exhibition, is a contained, utopian world, with a focus on a set of circumscribed pursuits. Like a highbrow summer camp for adults, festivals offer a jot of escapism, a chance to turn our attention away from some of the weightier issues of the past year. What makes them stand apart from other events is the joy of sharing the same […]
Chemists, materials scientists and nanoengineers have created what may be the ultimate natural sunscreen. They report the development of nanoparticles that mimic the behavior of natural melanosomes, melanin-producing cell structures that protect our skin, eyes and other tissues from the harmful effects of ultraviolet radiation. (via WSJ)
Designers, buyers and influencers have descended on Dubai for Arab Fashion Week, a five-day event dedicated to ready couture and resort wear for women, men and those who refuse a label. The show opened Tuesday night with Jordanian-Canadian sensation Rad Hourani, known for his unisex designs, Palestinian-American Jenanne Filat and her menswear lineup straight out of Arkansas, and runway darlings Marchesa. Hourani sent his models down the […]
Human activities, like nuclear tests and radio transmissions, have been changing near-Earth space and weather, and have created artificial radiation belts, damaged satellites and induced auroras. (via WSJ)
This Jan. 14, 2015 satellite image provided by NASA shows the shattered remains of a colossal iceberg known as B-15 on the Ross Ice Shelf in Antarctica. A Dubai firm’s dream of towing icebergs from the Antarctic to the Arabian Peninsula could face some titanic obstacles. Where many see the crumbling polar ice caps as a distressing illustration of global warming, the company sees it as a […]
By Ann Saphir | SAN FRANCISCO SAN FRANCISCO Ramin Forouzandeh had applied to 13 PhD economics programs in the United States, but after President Donald Trump signed his first travel ban in January, the 25-year-old Iranian turned to Canada for other options. He said he had focused on U.S. schools because they hosted most of the world’s top 20 economics programs. “Before the travel ban, I never […]
Edmonton International Airport in Canada will become the first airport in the world to use the Robird on a daily basis. The Robird is a lifelike robotic bird that will scare real birds away from the airport, starting at the end of May. (via WSJ)
Model-of-the-moment Winnie Harlow will walk the runway during Arab Fashion Week at The Meydan Hotel in Dubai this week. The 22-year-old Canadian, who has the depigmenting skin condition vitiligo, is one of many famous figures taking part in the event, which runs from tomorrow until Saturday. “Cardi B, the American influencer and hip-hop artist, will be flying in,” says Jacob Abrian, chief executive of the Arab Fashion […]
Having single-handedly hounded Home Capital Group – the company which we predicted in 2015 would be “ground zero” for any potential Canadian financial crisis, and has emerged as the Canada’s equivalent to the infamous New Century which in 2007 presaged the upcoming global financial crisis – into near oblivion, noted chicken-farmer and short-seller, Marc Cohodes, over the weekend revealed the full details behind his latest short thesis: […]
Radiation therapy shoots high-energy particles into the body to destroy or damage cancer cells, while sparing surrounding healthy tissue. New types of radiation systems are emerging that can better target cancer cells. These include proton beam therapy and MR-linac, which combines real-time imaging and radiation treatment in a single device. Scientists rely on supercomputers to virtually test, plan treatments, and understand the basic science of, these radiation […]
Authored by Paul Criag Roberts, “Fifty years ago, the streets of Leningrad taught me one thing: If a fight is inevitable, you must strike first.” Vladimir Putin In George Orwell’s 1949 dystopian novel, 1984, information that no longer is consistent with Big Brother’s explanations is chucked down the Memory Hole. In the real American dystopia in which we currently live, the information is never reported at all. […]
The tunnel was one of two at the Energy Department’s Hanford reservation used as dumping grounds from 1960 to 2000 for radioactive machine parts, vessels, and other equipment. It was, in short, a tangible expression of the department’s policy of covering over some of its nuclear bomb-making detritus and effectively pretending it isn’t there. The neglect followed a blunt warning 26 years ago from the State of […]
NASA and the European Space Agency are not exactly pursuing a lander mission together. This was recently revealed by a NASA spokesperson to Fox News, following news from last month that the two space agencies were joining forces for a joint lander mission to Jupiter moon Europa when 2025 comes along. Not Teaming Up For Europa Lander Mission Dubbed the Joint Europa Mission, the proposal was revealed on […]
