|By TAP Staff| Gold traded near a three-month low as the dollar advanced on speculation the Federal Reserve will increase interest rates next year, curbing demand. Gold has declined 5.2 percent this quarter as the outlook for higher borrowing costs reduced demand for an inflation hedge. Fed policy makers will meet Sept. 16-17. The Bloomberg Dollar Spot Index, which tracks the greenback against a basket of 10 […]
|By TAP Staff| Dubai Multi Commodities Centre (DMCC), AstroLabs and Google have team up to launch a technology hub that will promote start-ups. Based in the DMCC free zone, the hub is expected to open early next year, catering to technology entrepreneurs from around the world looking to gain access to high-growth emerging markets, including the Emirates. AstroLabs, which is a DMCC member, trains Middle East and […]
|By TAP Staff| A $32 billion project to make the Al Maktoum International airport at Dubai World Central as the world’s biggest airport has received approval. When completed, the airport targets to handle more than 200 million passengers per year. The first phase of the expansion alone aims to build enough runway and terminal space to handle 120 million passengers a year and 100 mammoth Airbus A380 […]
|By TAP Staff| Abu Dhabi is hosting a meeting of Global Opportunity Network on September 9, along with London, Shanghai, San Fransisco, Mumbai and other global cities. The meeting will discuss how the pressure for change can be used to create more resilient and sustainable societies. Global Opportunity Network has presented five risks that will inspire this year’s opportunity panels. The Abu Dhabi meeting will take place […]
|By TAP Staff|Meraas Holding said the first phase of its ambitious e $2.7 billion Dubai Parks and Resorts project incorporating the Legoland park would be completed by 2016. In addition to the Legoland park, that initial phase will include a Bollywood-themed park celebrating the Indian film industry and another known as Motiongate Dubai promising to bring Hollywood characters to life. Plans also call for a central retail […]
|By TAP Staff|President Obama is planning a speech Wednesday to outline a broader offensive against Islamic militants in the Middle East, a move welcomed by a number of key congressional leaders who have come to view the insurgent group as an increasingly menacing threat to the U.S, Los Angeles Times reported. Foreshadowing his remarks to the nation, Obama said in an interview aired Sunday on NBC’s “Meet […]
|By TAP Staff| Emaar Properties will launch the initial public offer of its shopping malls and retailing unit on Sept. 14. The developer further said the subsidiary will be listed on Dubai’s main stock market on Oct. 2. The offer would be one of the largest equity sales in the Middle East since 2008, underlining Dubai’s recovery from a credit crisis that forced many state-linked developers to […]
Valérie Trierweiler, the high-heeled hellcat whose memoir of their time together has plunged the surreally unpopular president into the biggest crisis anyone at the Elysée Palace can recall Photo: REX FEATURES Beneath the twinkling chandeliers of Cardiff Castle’s banqueting hall last week, François Hollande wore the pale, sweaty look of a man in big trouble. Back home, the economy was collapsing, the public was in revolt, the government […]
To me, visiting old churches makes more sense as a fundraiser than a bucket of cold water thrown over my head She hasn’t got the heaves, but if Miss Opsimath’s cough isn’t better by next Saturday, I’d better take my bike. So my cousin told me, when the possibility of my borrowing the mare was discussed. I’ll probably be more comfortable on the bike, because, although this […]
|By TAP Staff|The global Sukuk industry is expected to be one of the fastest growing segments of the Islamic finance industry with huge growth potential in the Gulf Cooperation Council (GCC) region, according to a report by the Dubai Chamber of Commerce and Industry. This is particularly true of Dubai where Sukuks are expected to play an important role over the next decade in securing funds for […]
|By TAP Staff| King Abdullah bin Abdulaziz of Saudi Arabia warned that terrorists will target the West if the world does not unite to confront them. King Abdullah made the statement during a presentation of credentials ceremony held in Jeddah yesterday for new ambassadors to Saudi Arabia, including U.S. Ambassador Joseph W. Westphal. “If neglected I’m sure they [terrorists] will reach Europe in a month and America […]
Barack Obama got a warm reception in Rhode Island last week, yet his lack of strategy has dismayed many others Photo: AP Just in case you thought that the Leader of the Free World was secretly harbouring a calculated, well-developed plan for bringing Isil under control and putting Russia’s imperial leader back in his box, Barack Obama banged that idea firmly on the head last week. He gave […]
By NICK CUMMING-BRUCE August 29, 2014 GENEVA — The number of refugees from the Syrian civil war has risen above three million, the United Nations refugee agency said Friday, calling the crisis “the biggest humanitarian emergency of our era.” More than a million people have fled in the last 12 months alone, the refugee agency said, counting only those who registered as refugees. The total number is believed to […]
|By TAP Staff| Forbes has ranked Dubai ahead of Los Angeles, Beijing and Sydney as the most influential city in the world. Dubai was ranked seventh on a list topped by London. The rankings are based on eight factors including the amount of foreign direct investment they have attracted; the concentration of corporate headquarters; how many particular business niches they dominate; air connectivity (ease of travel to […]
|By TAP Staff| Dubai Healthcare Authority has joined hands with Emirates Holidays, Dubai Immigration, Department of Tourism and Commerce Marketing and other stakeholders to offer medical tourism packages. The packages will be launched in October as part of ambitious plans for the emirate to become one of the world’s most popular destinations. The details will be announced during the first Health Regulations Conference in Dubai which will […]
|By TAP Staff| Abu Dhabi, along with London, Shanghai, San Fransisco, Mumbai and other global cities, will be the venue for the meeting of Global Opportunity Network panels to discuss how the pressure for change can be used to create more resilient and sustainable societies. Global Opportunity Network has presented five risks that will inspire this year’s opportunity panels. The Abu Dhabi meeting will take place on […]
|By TAP Staff| Emirates is likely to launch a flight service to Dubai from Indore by the end of this year, Indian television channel NDTV reported, quoting a Madhya Pradesh minister. “We want Emirates to launch a flight from Indore and are giving full support to the airline, which is also keen to connect the city to Dubai by air,” Madhya Pradesh Urban Administration and Development Minister, […]
|By TAP Staff| Aldar Properties has reported a strong wave of demand for long-term, bulk lease deals from corporate clients. The lease agreements signed with corporate clients range from two to 30 years, providing Aldar with long-term security of income. Both local and international companies have signed bulk leases at Al Rayyana, The Gates Towers, The Arc, Sun and Sky Towers and Al Murjan Tower over the […]
|By TAP Staff| Oil prices have never been so stable as they are now since the breakup of Bretton Woods system in 1971. Despite major geopolitical tensions in Libya, Syria, Iraq, or the Ukraine, global crude oil prices have been remarkably steady in the past three and a half years. Global oil prices have not been this stable since the break-up of the Bretton Woods system in […]
|By TAP Staff| Indians were the biggest foreign investors in Dubai property in the first half of this year, while Saudis dominated the GCC investors. According to statistics published by the Dubai Land Department, more than Dh10.5 billion was invested into the emirate’s property market by Indians out of a total of Dh37.5 billion spent by foreigners in the first six months of the year. During the […]
The chemical triclosan has been linked to cancer-cell growth and disrupted development in animals. Regulators are reviewing whether it’s safe to put in soap, cutting boards and toys. Consumer companies are phasing it out. Minnesota voted in May to ban it in many products. At the same time, millions of Americans are putting it in their mouths every day, by way of a top-selling toothpaste that uses […]
Royal Bank of Scotland confirmed it was considering selling the international arm of its private bank, a deal one source said could net it as much as $1 billion, as the British government leans on it to focus more on domestic lending. The move means that Coutts, founded in the 18th century and best known as banker to Queen Elizabeth, could be split into two businesses – […]
|By TAP Staff| A Dubai-to-Boston flight with 367 passengers and crew members aboard has been grounded at Logan International Airport after an engine fire that officials say was quickly extinguished when the plane landed, AP reported. Massport says a flame was seen coming from an engine of the Emirates Boeing 777-300 after it landed at 2 p.m. Sunday on its flight from Dubai International Airport in the […]
|By TAP Staff|The re-introduced Indian Rupee Options contract is picking up on DGCX. The Indian Rupee Options contract which was re-introduced on July 18 traded 343 contracts, according to the exchange. Indian Rupee Futures grew 22 percent from last month, while Mini Indian Rupee Futures rose 3 percent. Among the other currency pairs, British Pound, Australian Dollars and Yen Futures, grew 45 percent, 47 percent and 7 […]
|By TAP Staff| The international arbitration in relation to the gas sales and purchase contract between its partner Crescent Petroleum and the National Iranian Oil Company (NIOC) for the supply of gas to the UAE has given its final verdict, proclaiming the contract binding on all the parties. The issue has been the subject of international arbitration since June 2009. Dana Gas announced in a release that […]
The U.S. is considering airdrops of aid for thousands of refugees driven from their homes by Islamist militants in Iraq, and possible airstrikes against the insurgents, according to a defense official. Aircraft dropping food and other humanitarian supplies to the refugees would be accompanied by military planes, the official said, asking not to be identified because discussions are private. If the insurgents target the planes, the U.S. […]
|By TAP Staff| A Dubai-based company has launched the UAE’s first offline business directory for Smart phones, named Call UAE, which can work without an internet connection or a mobile network. With over 400,000 listings and more than 5,000 search categories, Call UAE is claimed to be the only “patented” offline Search Engine for Business Data in the UAE. can work without an internet connection or a mobile […]
|By TAP Staff| The world’s most expensive recreational vehicle (RV) was recently sold in Dubai. The 40-foot-long EleMMent Palazzo from Austrian company Marchi Mobile changed hands for around $3 million, luxury and performance automotive website Motor Authority reported. The EleMMent Palazzo looks like an alien spacecraft, or perhaps two different vehicles fused together by some mishap involving tampering with the spacetime continuum. At least it’s covered in […]
|By TAP Staff|Dubai International Capital, the private equity arm of Dubai Holding, announced that it has completed the sale of Mauser Group to Clayton, Dubilier & Rice for $1.7 billion. The agreement for this sale was announced on 12 May 2014. David Smoot, Chief Executive Officer of DIC, said the transaction demonstrated DIC’s ability to improve and grow the companies it has invested in to ultimately achieve […]
|TAP Special| Dubai stands to gain from a changing shopping profile of Singapore as strengthening exchange rate, rising labour costs and sales tax are putting foreign shoppers at a disadvantage in the island city state. Reports already suggest a marked drop in tourist arrivals, particularly from China. Dubai retailer Al-Futtaim has closed its stores for brands including Shana and Vince Camuto in Singapore, and is closing Mango […]
