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arabian post staff

Arts & Culture

newslide Stan Lee’s company launches new Indian superhero Comic book legend Stan Lee’s POW! Entertainment and Graphic India, an entertainment company, have come out with Mighty Girl, a new female superhero for India. The new Chakra The Invincible and Mighty Girl comics were unveiled on Saturday at the Bengaluru Comic Con. The comic was also done in collaboration with Unicef’s ‘World’s Largest Lesson’ initiative, supported by GEMS […]

Arts & Culture

Alia Khalifa Al Nabooda strikes a real balance – she’s an entrepreneur and mother-of-four, who puts in the time to be successful at both. Last year, the 32-year-old co-founded VoucherSkout, a 50 per cent discount app for services across the UAE. “We’ve had our struggles, like any start-up business. Things haven’t gone exactly to plan, but now that we’ve launched, we can see the fruits of our […]

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|By Arabian Post Staff| China Construction Bank today marked the listing of a $600 million bond on Nasdaq Dubai under the bank’s six billion US dollar Medium Term Note Programme. Yuan Shengrui, Senior Executive Officer of the DIFC branch of China Construction Bank (CCB), rang the market-opening bell to celebrate the listing. CCB is one of China’s most prominent banks with a market capitalisation of 173.3 billion […]

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|By Arabian Post Staff| China Construction Bank today marked the listing of a $600 million bond on Nasdaq Dubai under the bank’s six billion US dollar Medium Term Note Programme. Yuan Shengrui, Senior Executive Officer of the DIFC branch of China Construction Bank (CCB), rang the market-opening bell to celebrate the listing. CCB is one of China’s most prominent banks with a market capitalisation of 173.3 billion […]

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Middle East

Where Even Nightmares Are Classified: Psychiatric Care at Guantánamo By SHERI FINK November 12, 2016 A guard tower at a now-empty detention block at Guantánamo Bay. The prison, where nearly 800 men were held over the years, now has 60 detainees. By SHERI FINK November 12, 2016 Every day when Lt. Cmdr. Shay Rosecrans crossed into the military detention center at Guantánamo Bay, Cuba, she tucked her medical school class ring […]

Middle East

FUJAIRAH // A centre for the disabled wants more classrooms and teaching staff to deal with a growing number of autistic pupils. Dibba Al Fujairah Rehabilitation Centre for the Disabled started operating in 2002 to teach 12 children with intellectual and physical disabilities. Today, there are 59 aged between 4 and 18, with another five helped by outside support services. Thirteen of children are autistic, and there […]

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|By Arabian Post Staff| With a hardliner like Donald Trump set to head the US administration, Iran-US relations seem to be set to re-enter the tension zone once again. Already signs of hard posturing by both sides are visible. Trump has advocated doubling or tripling the sanctions previously imposed on Iran to force the country to accept greater restrictions on its nuclear program than those contained in a […]

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Middle East

ABU DHABI // Sheikh Mohammed bin Zayed met the Egyptian president in Cairo on Thursday to take stock of regional and global issues. The Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces and Abdel Fattah El Sisi discussed regional challenges, especially interference from foreign parties, the crises in Arab countries and risks to the region posed by terrorist organisations. They also considered […]

Biz Tech

By Makiko Yamazaki | TOKYO TOKYO Japanese conglomerate Toshiba Corp swung to an operating profit in the July-September quarter, driven by strong demand for NAND flash memory chips from Chinese smartphone makers. That boom in demand has been a blessing for Toshiba, which is seeking to recover from a $1.3 billion accounting scandal by turning itself into a company more focused on chips, nuclear energy and social […]

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|By Arabian Post Staff|Bank of America-Merrill Lynch has made moderate downward adjustments to its near-term growth forecasts in the light of the election of Trump as the next US President. “Given the high level of uncertainty about the exact policy changes at this stage, we are assuming that trade tensions and fiscal stimulus have offsetting impacts on growth in the medium term,” it said. While a wide […]

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Biz Tech

By Jonathan Stempel A federal judge on Thursday directed Amazon.com Inc to set up a year-long process to reimburse parents whose children made in-app purchases without permission, but rejected a U.S. regulator’s request for a $26.5 million lump-sum payout. U.S. District Judge John Coughenour, in Amazon’s hometown of Seattle, issued his order more than six months after finding the online retailer liable, in a case brought by […]

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|By Arabian Post Staff|Donald Trump’s election as American President is expected to further complicate OPEC’s efforts to strike a deal for output freeze. OPEC was already struggling to finalize a deal and with Trump, it has become all the more difficult. In fact, Trump’s surprise victory threatens to deepen a market sell-off, according to UBS Group AG. Yet the uncertainty arising from the President-Elect’s policies — from […]

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|By Arabian Post Staff| Dubai Electricity and Water Authority (DEWA) has confirmed that the ACWA Power and Harbin Electric consortium has begun construction of the 2,400 megawatt (MW) Hassyan clean coal power station, based on the Independent Power Producer (IPP) procurement model.The plant will be the first-of-its-kind in the region and is fully-compliant with set international standards, adopting the use of ultra-supercritical technology. In June, DEWA and the […]

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|By Arabian Post Staff| It might be possible in the not too distant future to travel between Dubai and Abu Dhabi in 12 minutes if plans announced today materialise without any major hitch. Hyperloop One, which is reinventing transportation by developing the world’s first Hyperloop, an integrated structure to move passengers and cargo between two points immediately, safely, efficiently,  and the Dubai Roads and Transport Authority (RTA) agreed […]

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|By Arabian Post Staff|The gold price breached US$1,300/oz in the wake of Donald Trump’s victory, up from US$1,275/oz before the vote counting began. Gold price has increased, outperforming other assets, including other safe havens. The market is expeting short term volatility in the wake of the election result as it signals a major political and economic change. Gold trading volumes have risen sharply in Asia. Western markets, which […]

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|By Arabian Post Staff| The Ministry of Finance (MoF) announced the UAE’s membership to the Global Forum on Transparency and Exchange of Information, following the UAE Cabinet’s decision in 2010 on MoF’s implementation of the G20 resolutions for the exchange of information for tax purposes. The Ministry will be responsible for coordinating with government bodies to collect financial information of international companies operating in the country. The UAE Cabinet had […]

Biz Tech

By Abhirup Roy | MUMBAI MUMBAI Ford Motor Co is investing 13 billion rupees ($195 million) over the next five years in a technology and business centre in the Indian city of Chennai to develop new products, design mobility solutions and provide business services. Dearborn, Michigan-based Ford, which has already invested over $2 billion in India till date, will hire 3,000 people and bring in 9,000 from […]

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Newsbox

Gulfnews.com Republican candidate launches marathon final day of campaigning in attempt to win crucial votes U.S. Republican presidential nominee Donald Trump gestures as he speaks at a campaign rally in Raleigh, North Carolina. Raleigh, United States: Donald Trump launched a final marathon Monday as the wildest US presidential campaign in memory drew to a close, desperate to persuade Americans they would be better served by a political […]

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|By Arabian Post Staff|Emaar Malls recorded a net profit of AED 1.42 billion during the first nine months (January to September) of 2016, an increase of 16 per cent over the same period last year at AED 1.22 billion. The total revenue for the first nine months of the year was AED 2.39 billion, which is 10 per cent higher than the revenue of AED 2.17 billion […]

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|By Arabian Post Staff| The growing list of OPEC members seeking exemptions from a planned supply cut has investors seeing future price drops, Bloomberg reports. Money managers increased bets on lower West Texas Intermediate oil for the first time in five weeks as Iraq joined Iran, Nigeria and Libya in seeking to be excluded from OPEC’s first agreement to reduce output in eight years. The deal was reached […]

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|By Arabian Post Staff| Saudi Arabia’s $17.5 billion debut sovereign bond issue had a most successful start, with investor orders reaching $67 billion, according to reports. The huge response has meant that the oil kingdom is in a position to borrow more cheaply than was originally expected. According to Financial Times, the order book was also sufficiently large to enable the country to raise the amount it […]

Business

|By Arabian Post Staff| The UAE has started the process of staffing the Federal Tax Authority, which will be responsible for the implementation of the proposed federal tax system, beginning with the introduction of VAT. The Ministry of Finance is scouting around for a Compliance and Enforcement Director, who will help maximise Federal tax revenues through the development and implementation of compliance and enforcement strategies. Deloitte LLP […]

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|By Arabian Post Staff| US$51.6 billion of Dubai’s debt will come due for repayment in 2016-18, with US$27.4 billion due in 2018, IMF has estimated. Over US$28.9 billion of Abu Dhabi’s debt will also come due during this period. According to IMF, these imply short-term rollover risks for both Dubai and Abu Dhabi, but for a larger extent in the case of Dubai. The Fund feels that […]

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|By Arabian Post Staff| Adnoc announced plans to merge Abu Dhabi National Tanker Co., Petroleum Services Co. and Abu Dhabi Petroleum Ports Operating Co. by the end of 2017. The new shipping company will operate more than 165 vessels, including vessels to carry liquefied natural gas, chemicals and bulk cargo, Adnoc said. The consolidation is expected to lead to improved efficiency and savings. The move is seen […]

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|By Arabian Post Staff| Signs of friction over OPEC’s production freeze plan are already emerging, with more members questioning the proposed numbers. Iraq and Venezuela had already expressed doubts over data compiled by OPEC for this purpose on the ground that the data has been compiled from secondary sources. And now Iran has joined the protest. Output estimates compiled by OPEC’s Vienna-based secretariat are “not acceptable,” Bloomberg […]

Banking & Finance

|By Arabian Post Staff| The three-month Saudi Interbank Offered Rate, or Saibor, used as a benchmark to price loans, has climbed 15 successive months to the highest in seven years, Bloomberg reported. It gained 84 basis points this year to 2.385 percent on Sunday, compared with a 27 basis-point advance in the London Interbank Offered Rate for dollars. Meanwhile, the loans-to-deposit ratio among Saudi banks, a key measure of […]

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|By Arabian Post Staff| A high level panel will examine the effects and ramifications of de-risking for Middle East banks, under which correspondent banking relationships are constrained or blocked by international regulators protecting their banks from perceived risk such as money laundering or financing terrorism. The panel will discuss how banks manage de-risking, how it affects their small and medium sized corporate clients in the Middle East […]

Banking & Finance, Featured

|By Arabian Post Staff| The Dubai Islamic Economy Development Centre is in the process of developing a National Bonds Sukuk Trading Platform, which uses assets in the local economy to structure Shariah-compliant consumer financing. This is pat of the initiative to develop new strategies to meet the liquidity management and personal financing needs of Islamic banks and Islamic windows at conventional banks. These products are expected to […]

Business

|By Arabian Post Staff| GE marked a new milestone in its operational presence in Kuwait with the opening of the GE Kuwait Technology Center (GEKTC), a flagship facility that will foster localized research, provide hands-on training and build an innovation ecosystem specifically for the power sector. Approved by the Kuwait Direct Investment Promotion Authority (KDIPA) for a Foreign Investment License last year, the 6,000 sq meter GEKTC, […]

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|By Arabian Post Staff| Goldman Sachs Group Inc. won a landmark case when a London court ruled that there is no evidence to prove the bank resorted to unlawful practices to get Libyan officials to invest with it, a move that led to  $1.2 billion loss to Libya. The verdict put to rest claims the bank leveraged its reputation as well as lavish meals and prostitutes to […]

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