As chairman of Emaar Properties, Mohamed Alabbar has shaped much of Dubai’s skyline, but rapid growth in his outside real estate interests is raising the possibility of a rarity in the Gulf – open shareholder dissent. Speculation persists that Alabbar and Emaar, the company he founded in 1997, could soon part ways despite a categorical denial from the firm last month. His involvement in other firms’ projects, […]
ABC Islamic Bank profit up 23pc to 15m MANAMA, 1 days ago ABC Islamic Bank has posted a net profit of $15.1 million last year, a 23 per cent increase as compared to $12.2 million recorded in 2013. The net profit for the fourth quarter was $3.6 million, 19 per cent higher than the same period of the previous year, said a statement. The total operating income […]
Dubai Investments is close to finalising two acquisitions worth a combined 400 million dirhams ($109 million), it said in a statement on Sunday. One of the purchases will be of a financial entity with expertise in asset management, corporate advisory services, debt raising and brokerage capabilities, with the second acquisition coming in the real estate sector, the statement said. It did not name the acquisition targets nor […]
When it comes to wearables, the headlines often seem dominated by smart watches and fitness-tracking bracelets. However, as the Consumer Electronics Show wraps up in Las Vegas on Friday one thing is clear — there’s a lot more to wearables than just bangles and timepieces. Among the wearable Innovation Award winners at this year’s CES were a heart-rate-monitoring strip that sticks to a user’s torso; a sensor-embedded […]
DUBAI, 2 days ago Developing countries in Asia—particularly China and India—are rapidly becoming the biggest trading partners with Gulf Co-operation Council (GCC) countries ahead of other regions, according to a new report released by the Economist Intelligence Unit (EIU) in conjunction with Falcon and Associates. The study, entitled ‘GCC Trade and Investment Flows,’ explored the GCC’s economic ties with each world region and identifies major growth drivers. […]
Sliding oil prices, leverage and sheer panic have exposed the fragility of Gulf equity markets just as they are becoming mainstream destinations for international investors. In May, MSCI upgraded Qatar and the United Arab Emirates to emerging-market status, drawing billions of dollars of new money to them. Saudi Arabia will open its bourse to direct foreign investment next year, which could draw tens of billions of dollars […]
Just days after Stephen Hawking, a preeminent British physicist, warned artificial intelligence (AI) could end mankind, MetaMind announced its new AI platform and an initial $8 million in funding from Khosla Ventures and Salesforce Chairman and CEO Marc Benioff. MetaMind has developed what it calls “deep learning” software that combines natural language processing and computer vision to solve complex data problems. The technology’s goal is to pave […]
North Korea is an astonishing survival into the 21st century of 19th century traditions of oriental despotism. Just as the old kings of Korea were demigods, beyond mortal criticism and revered as infallible by their awed subjects, so the present-day rulers of North Korea are presented as geniuses who can make no mistakes. Moreover, in this tradition, the monarch personifies the nation – to mock Kim Jong-un […]
NEW DELHI: The T S R Subramanian committee, constituted about three months ago to review laws related to environment and forest protection, has recommended some big-ticket changes to the rules and legislation. These include a complete overhaul of certain laws, special fast-track dispensation for power, mining and linear projects, self-certification of compliance by industry and diluting the powers of the National Green Tribunal (NGT). The committee’s […]
NEW DELHI: The National Democratic Alliance (NDA) government on Thursday approved an outlay of Rs 43,033 crore to fund an ambitious initiative to supply electricity through separate feeders for agricultural and rural domestic consumption, aimed at providing round-the-clock power to village households. In addition, the cabinet also approved spending Rs 32,612 crore on an integrated power development initiative, which involves strengthening sub-transmission and distribution systems, according […]
New Delhi: India has signed a euro 13 million deal with Airbus Defence and Space for the delivery of a dedicated facility in the country for the maintenance and repair its submarine fleet periscopes. The project is due to be completed in September 2016. “When a product is serviced, a lot of time is lost during the transport between different facilities. Once maintenance work can be […]
Kolkata: The fear of bad loans and limited lending opportunities to top companies have prompted several banks to shift focus towards the retail (individual loans) and small & medium enterprises segments. India Inc’s reluctance to borrow money is keeping bankers worried. While lenders were able to stem fresh impairment in their credit quality in the July-September period, low demand for corporate loans has decelerated the growth in […]
NEW DELHI: A few weeks before the Reserve Bank of India announces the monetary policy, Finance Minister Arun Jaitley has made his preferences clear in the raging debate over whether governor Raghuram Rajan should cut interest rates on December 2. “Reduction in the cost of capital will give a good fillip to the Indian economy,” Jaitley said at the Citi Investor Forum, but added that the […]
NEW DELHI: A few weeks before the Reserve Bank of India announces the monetary policy, Finance Minister Arun Jaitley has made his preferences clear in the raging debate over whether governor Raghuram Rajan should cut interest rates on December 2. “Reduction in the cost of capital will give a good fillip to the Indian economy,” Jaitley said at the Citi Investor Forum, but added that the decision […]
PANAJI: Defence Minister Manohar Parrikar is considering the introduction of a new policy on the vexed issue of blacklisting defence equipment suppliers accused of corruption as well as reforming rules for lobbyists to balance the needs of the armed forces with transparency. Speaking to ET in the state capital at the chief minister’s residence, Parrikar said, “One of the ideas the government is thinking about is […]
By Kalyani Shankar The 25-year-old Shiv Sena-BJP break up in Maharashtra confirms the long-term plan of the BJP to go beyond the allies and emerge a dominant national party eclipsing others. In election rallies in both Maharashtra and Haryana, Prime Minister Narendra Modi stressed the end of the coalition era in Indian politics to stress this point. Narendra Modi as well as the BJP chief […]
By Sankar Ray The grim battle waged by a small but well=meaning section in Pakistan for a sustaining and evolving democratic order has suffered a setback as some pseudo-democratic interests are working against the struggle for democracy. Needless to say, the Pakistan Tehreek-e-Insaf (PTI) and its chief Imran Khan serve as catalyst in favour of the unholy combine of a section of army, the ISI and […]
By Ashok B Sharma In a situation where economies are seeking integration with neighbours in the form of institutional grouping, India has made attempts for engagement with the ASEAN bloc primarily for trade and integration of the economy, more particularly to derive benefit for its remote north-eastern region. But this has not been realised in full potential due to poor land route connectivity despite inking of free […]
NEW DELHI: Less than a day after Delhi Electricity Regulatory Commission (DERC) announced a hike in consumer power tariff through power purchase adjustment charges (PPAC), it withdrew the order. This is the first time a tariff order has been withdrawn in Delhi since DERC was constituted in 2001. While the regulator said the order stands withdrawn till it receives complete information from various power generators on fuel […]
|By TAP Staff| Dubai International Financial Centre (DIFC) Court of First Instance hast confirmed its jurisdiction over a lawsuit by an expatriate investor, resident in Dubai, against India’s ICICI Bank, registered in the DIFC. In May, Indian citizen Kishanchand Gangaram Bhatia filed suit in the DIFC Court of First Instance alleging that ICICI Bank induced him to invest in an unsuitable fund and had not disclosed material […]
A view of the Dome of the Rock, which along with Al Aqsa Mosque is on the site in Jerusalem known as the Noble Sanctuary to Muslims and Temple Mount to Jews. By JODI RUDOREN November 6, 2014 JERUSALEM — One cartoon circulating on social networks on Thursday depicted a car as the barrel of an automatic weapon, captioned in Arabic, “Revolt and resist, even by your car.” Another […]
NEW DELHI: Suresh Prabhu is set to play a key role in drafting policy on natural resources and infrastructure in the Narendra Modi government. The Shiv Sena member has been given an office in South Block, where the Prime Minister’s Office is located, and is expected to be given cabinet rank. Prabhu is also expected to look after the organisation that will succeed the Planning Commission […]
New Delhi: India Inc on Wednesday pitched for a rate cut by the Reserve Bank of India (RBI), saying the central bank should be “more courageous”, since inflation had come down drastically and growth is not picking up. RBI is slated to come out with its policy review on December 2. “RBI has to be more courageous,” said Anand Mahindra, chairman and managing director of Mahindra & […]
New Delhi: India is not likely to get a futuristic stealth fighter anytime before 20242025. Technical and price wrangles continue to bedevil the joint project with Russia to develop the fifth-generation fighter aircraft (FGFA). India, in fact, has conveyed its deep concerns to Russia about being denied “full access“ to the FGFA project despite the fact that it is supposed to be an equal partner in […]
