The boss of Etihad Airways, which owns 49 percent of troubled Italian airline Alitalia, said he deeply regretted a decision by Alitalia staff to reject a last-ditch restructuring deal, blocking a recapitalisation and sparking fears that the carrier may be grounded for good. The future of Alitalia was in doubt on Tuesday, with James Hogan, president and CEO of the Etihad Aviation Group and vice chairman of […]
ANKARA Turkey will not wait at Europe’s door forever and is ready to walk away from EU accession talks if rising Islamophobia and hostility from some member states persist, President Tayyip Erdogan told Reuters in a wide-ranging interview on Tuesday. Speaking at the presidential palace less than two weeks after winning sweeping new powers in a referendum, a relaxed Erdogan said a decision by a leading European […]
Oil traders banking on a sustained market recovery in 2017 are growing impatient. As the price of Brent crude falls towards $50 a barrel, Opec, energy analysts and some of the most powerful banks in the commodities sector are urging traders to maintain their composure. After a production cut deal between the cartel and rivals such as Russia was agreed late last year, prices began 2017 $10 […]
Payment processing giant Vantiv announced that it is acquiring Paymetric, an electronic payments software firm focused on the B2B channel. Financial terms of the deal were not disclosed. Paymetric is used by enterprises to accept, process and integrate secure electronic payments within enterprise systems, including SAP, Oracle, Hybris and Salesforce. One of Paymetric’s hallmark features is its patented tokenization process, which secures customer payment data running through […]
By Steve Friess | DETROIT DETROIT A Palestinian-born activist who spent 10 years in an Israeli prison on a terrorism conviction before moving to the United States and gaining citizenship pleaded guilty on Tuesday to immigration fraud, agreeing to be deported rather than sent to prison. Rasmieh Yousef Odeh, 69, is scheduled to be sentenced on Aug. 17 and subsequently stripped of her U.S. citizenship and expelled […]
India will not be able to meet its Paris climate agreement commitments in the coming years if it carries through with plans to construct nearly 370 coal-fired power plants, according to researchers. (via WSJ)
Authored by Zainab Calcuttawala via OilPrice.com, Alberta Premier Rachel Notley warned U.S. President Donald Trump that he would face the wrath of the northern nation’s many allies if the freshman president begins employing energy trade restrictions with Canada. Notley is currently in China, negotiating her country’s trade policies with the Asian giant. She told reporters that she did not know what was meant by Trump’s comments about […]
Located on Reem Island, Vida Beach Reem Island Abu Dhabi and Vida Residences Beach Reem Island Abu Dhabi will add to the portfolio of Emaar Hospitality Group’s upscale lifestyle hotel brand Scheduled to open in 2020, the iconic hotel and extended stay serviced residences overlook the Arabian Sea within a marina setting Vida Beach Reem Island Abu Dhabi will feature 262 guestrooms and suites, and […]
AT&T was set to acquire Straight Path — and its valuable portfolio of mmWave spectrum — in a deal valued at $1.6 billion, but Straight Path announced Tuesday that it has received a “Superior Proposal” from another multi-national telecommunications company. The new bidder made an “unsolicited offer” to acquire all issued and outstanding shares of Straight Path for $104.64 a share, in an all-stock transaction valued at […]
Just when US trade partners thought it was safe to come out from their hiding places, along comes President Donald Trump to slap a punitive duty on Canada, America’s long-time ally and neighbour — imposing tariffs of up to 24 per cent on imports on its softwood lumber. The new president seemed to have gone quiet on his protectionist instincts, pulling back from a trade confrontation with […]
After yesterday’s violent gap up in stocks across the globe in response to the “expected” outcome from the French election, today the risk on sentiment has continued if to a lesser extent, with stocks in Europe, Asia all rising while S&P futures point to a higher open. Yen, gold decline, while the euro traded as high as 1.09 this morning before fading some gains; oil is up […]
By Linda Sieg and Tetsushi Kajimoto | TOKYO TOKYO The secretary-general of Japan’s ruling party said on Tuesday he will attend China’s New Silk Road summit in May, a sign Prime Minister Shinzo Abe wants to improve ties with Beijing amid tensions over North Korea’s missile and nuclear programmes. But an adviser to Abe said Tokyo remained cautious about the China-backed Asian Infrastructure Investment Bank (AIIB), created […]
Viktor Medvedchuk has an unusually powerful godfather to his daughter: Vladimir Putin, the Russian president. The Ukrainian is also under US sanctions for “threatening the peace, security, stability, sovereignty or territorial integrity” of his country. So why is Mr Medvedchuk involved in negotiations over the future of separatist-held east Ukraine — on Kiev’s side? Mr Medvedchuk, 62, has long been one of Ukraine’s most divisive and enigmatic […]
Dubai Aerospace Enterprise (DAE) Ltd has announced the signing of a definitive agreement to acquire 100 percent of the AWAS group of companies, a global leader in aircraft leasing. The deal has been struck with funds managed by Terra Firma Capital Partners and the Canadian Pension Plan Investment Board. Terms of the transaction were not disclosed. AWAS is one of the world’s leading aircraft leasing companies, with […]
24 April 2017 Dubai – Dubai master developer Nakheel today broke ground on a new, 375-room hotel at Ibn Battuta Mall, with a total project value of AED240 million. The ground-breaking ceremony – Nakheel’s second in a week – was led by Chairman Ali Rashid Lootah and comes a month after the company handed a construction contract worth AED184.5 million to Dubai-based Parkway International Contracting LLC to […]
The US Treasury has responded to this month’s gas attack in Syria by launching one of its biggest one-off rounds of sanctions, targeting employees of a Syrian agency it accuses of developing non-conventional weapons. The Treasury’s Office of Foreign Assets Control announced that 271 employees of Syria’s Scientific Studies and Research Center were being sanctioned, more than doubling the number of individuals and entities targeted by previous […]
Enviroserve UAE has signed an agreement with Dubai Wholesale City for the construction of a 228,000 sq ft electronics and specialised waste recycling plant at Dubai Industrial Park. Backed by the Swiss Government Export Finance Agency, the AED120 million project represents one of the largest foreign direct investments in the field of environmental management in the UAE, a statement said. It added that the facility will serve […]
ABU DHABI // Emiratis travelling to Japan will soon be able to visit the country visa-free once pre-registered, according to the country’s embassy in the UAE. The announcement comes shortly after the Ministry of Foreign Affairs and International Cooperation said it would sign visa-free travel deals with 18 countries this year alone, including with Brazil and Argentina. Japan announced the visa waiver at the Japan-UAE Foreign Ministers’ […]
The federal government has announced it has agreed to enhanced cybersecurity cooperation with China, following discussions between Prime Minister Malcolm Turnbull, Foreign Minister Julie Bishop, and Secretary of the Chinese Communist Party’s Central Commission for Political and Legal Affairs Meng Jianzhu. During the discussions held last week in Sydney, Australia and China agreed that neither country would conduct or support cyber-enabled theft of intellectual property, trade secrets, […]
A Chinese investment firm has signed an agreement with Al Marjan Island (AMI) Company to acquire a plot of land on Ras Al Khaimah’s man-made island. Novel International Group has bought the 720.000 sq ft plot, with plans to develop a tourism and retail project, a statement said. The project involves a mixed-use development hotel, hotel apartments and shops, it added. Alan Feng, director, Novel, said: “The […]
Photo Members of the United Nations Security Council during a meeting about Syria on April 7. President Trump will host a lunch on Monday with 14 diplomats who are members of the Security Council. Credit Drew Angerer/Getty Images UNITED NATIONS — President Trump, who recently had Ted Nugent, Sarah Palin and Kid Rock over for a White House dinner, is planning to host 14 diplomats from around […]
Egyptian President Abdel Fattah al-Sisi received a royal welcome from King Salman as he landed Sunday in Saudi Arabia for a visit to boost ties after months of tension. Salman, surrounded by key Saudi officials, greeted Sisi as he stepped off the plane in the capital Riyadh and hosted him for lunch, the official Saudi Press Agency said. The Egyptian presidency announced the visit in a statement […]
· Marassi Al Bahrain has been chosen as the first location for The Address Hotels & Resorts hospitality brand outside of the UAE · Linked to Marassi Galleria – the shopping, leisure and entertainment destination 23 April 2017 Manama – Eagle Hills Bahrain, developers of the urban waterfront project Marassi Al Bahrain, held a reception for invited VIP guests of its new-to-market hospitality brand, The […]
Photo King Salman of Saudi Arabia at the 28th Ordinary Summit of the Arab League at the Dead Sea last month. King Salman rescinded a 20 percent cut to ministers’ salaries and promoted two of his sons. Credit Mohammad Hamed/Reuters BEIRUT, Lebanon — King Salman of Saudi Arabia rescinded salary cuts for ministers and restored financial perks for public sector workers in a series of royal decrees […]
