logo

News related to
business

10 May 2017 BP today announced that it has started gas production from the first two fields, Taurus and Libra, of the West Nile Delta development in Egypt. The project was delivered eight months ahead of start-up schedule and under budget. First gas was exported to Egypt’s national grid on 24 March 2017 and the commissioning of all nine wells of the development’s first two fields and […]

Retailers were among Wednesday’s biggest gainers, with Next and AB Foods both in demand on broker upgrades. Next climbed 1.7 per cent to £44.01 on the back of an Investec upgrade to “buy”. Investors have been too preoccupied by Next’s short-term trading and have missed its active estate management, Investec said. Rather than focus on refurbishments, Next has been opening and closing stores to adapt to the […]

Microsoft, whose campus is shown in this 2014 picture, has told developers at its annual Build conference it wants to bring artificial intellience into the mainstream Microsoft on Wednesday unveiled new tools intended to democratize artificial intelligence by enabling machine smarts to be built into software from smartphone games to factory floors. The US technology titan opened its annual Build Conference by highlighting programs with artificial intelligence […]

WASHINGTON Minneapolis Federal Reserve Bank President Neel Kashkari said on Wednesday that there should not be any relaxation of regulations that have tightened oversight of Wall Street. “Progress has been made. I wouldn’t want to roll that back off the biggest banks,” Kashkari said at an event in Minneapolis, when asked about the fate of the Dodd-Frank reform act that was passed in part to prevent big […]

IBM on Wednesday is announcing significant updates to PowerAI, its deep learning software distribution package, making it faster for data scientists to deploy deep learning models and easier for developers to integrate computer vision into their applications. Analysts say that artificial intelligence has reached a tipping point where it’s being integrated into just about every service, product or integration, but there are still major challenges for the […]

DUBAI // Abdualah Mohammed Al Soori has never let his muscular dystrophy get in the way of achieving his dream of becoming a published author. The Emirati, who has suffered from the disorder since the age of 7, has written several books of short stories and writes a column for Al Roya newspaper. He said people with special needs have an important role to play in society […]

The Emir of Kuwait, Sheikh Sabah al Ahmad al Sabah, and the President of Turkey, Recep Tayyip Erdoğan, on Tuesday officially inaugurated the start of heavy construction of Kuwait International Airport’s new passenger terminal. The new KD1.31 billion ($4.27 billion) passenger terminal is currently being built by the Turkey-based construction company Limak Insaat, and will have the capacity to handle 25 million passengers per year and accommodate […]

Advertisements

Jes Staley, chief executive of Barclays, has apologised to shareholders for the “error” he admitted he had made in trying to uncover the identity of a whistleblower. In an attempt to take the sting out of the bank’s annual meeting on Wednesday, the Barclays CEO said: “I feel it is important that I acknowledge to you, our shareholders, that I made a mistake in becoming involved in […]

A joint venture between Dubai developer Nakheel and Spanish hospitality group RIU Hotels & Resorts has released a construction tender for an 800-room, beachfront resort and water park at Deira Islands. With an investment value of AED670 million ($182.4 million), the resort – RIU’s first in the Middle East and one of the biggest in Dubai in terms of hotel rooms – is set for delivery in […]

By Yashaswini Swamynathan U.S. stocks were slightly lower on Wednesday, dragged down by Walt Disney’s disappointing results, while investors turned cautious after President Donald Trump fired his FBI chief. Disney (DIS.N) fell 2.5 percent and was the top drag on the Dow and the S&P 500 after the media company reported quarterly revenue below analysts’ expectations. Trump said he fired FBI Director James Comey, who had been […]

Manama, 10 May 2017 GFH Financial Group (GFH) announced today that Islamic International Rating Agency (IIRA) has upgraded its national scale ratings by a notch to ‘BBB-(bh)/A3(bh)’ (TripleB Minus/ A Three) with a ‘Stable’ outlook and maintained its international scale ratings at ‘BB/B’ (Double B / Single B),  1`. According to the agency’s report, the rating action recognizes recent positive developments that have reinforced the Group’s balance […]

Time Inc cut its dividend and announced a board shake-up as the magazine publisher reported a steeper than expected first-quarter net loss and decline in revenue. The owner of Time, People and Sports Illustrated is in the midst of a strategic reorganisation aimed at shifting its business from print to digital, following its decision last month not to sell itself. Its net loss widened to $28m, or […]

Good morning. Here’s our morning roundup of all the media news you need to know. Want to get this briefing in your inbox every morning? Subscribe here. Sean Hannity, the eight-figure archetype of selective moral outrage, last night charged the press with going “completely insane” over the James Comey firing. Hannity accused it of “selective moral outrage,” proving it takes one to know one amid wall-to-wall Comey […]

Air Arabia has renewed plans that were put on hold after a dip in demand to expand its fleet, with the biggest discount carrier in the Gulf and North Africa encouraged by rebounding sales at its Moroccan unit. The airline, an Airbus SE A320 operator, could reach a decision on new jets as early as this year or into 2018, Chief Executive Officer Adel Ali said in […]

The Indian government issued an ordinance at the end of last week laying out some new powers for the Reserve Bank of India, powers which are aimed at chipping away at the country’s mammoth and thoroughly discussed bad loan problem. Here’s CreditSights with a brief explanation: In essence, two additional sections ­35AA and 35AB ­ were introduced into the Banking Regulation Act. 35AA will allow the government […]

MANNHEIM, Germany SAP (SAPG.DE) said on Wednesday its executive pay system was reasonable, defending management bonuses against the criticism of some shareholders. “Our executive payment must be seen in comparison with other software companies and must be competitive,” SAP’s co-founder and supervisory board Chairman Hasso Plattner told the company’s annual shareholders’ meeting. “We think we have a reasonable system,” he added. Leading shareholder advisors have called on […]

Turkish President Recep Tayyip Erdogan said Tuesday his country’s trade with the energy-rich Gulf had yet to reach its full potential, as he visited a region where Ankara aims to strengthen ties. “We want to develop trade volume with the Gulf states, which last year reached $17.4 billion (15.9 billion euros),” Erdogan said in Kuwait. “Compared with the potential we have, this size is below the required […]

ZURICH ChemChina [CNCC.UL] has won around 82 percent support from Syngenta shareholders for its $43 billion takeover of the Swiss pesticides and seeds group, China’s biggest foreign acquisition to date, the two companies said on Wednesday. Definitive interim results of the tender showed around 82.2 percent of Syngenta shares and depository receipts had been offered, slightly above the level the partners had announced last week when ChemChina […]

An Emirati entrepreneur has created a buzz in the GCC honey industry with the region’s first apiary that rears queen bee breeds from across the world. Mana Al Kaabi established the Al Kaabi established Hatta Honey, a honey production business with support from Dubai SME and Dubai Municipality, and now plans to create a new bee breed, to be called the Dubai Breed that will have unique […]

The British perfumer founded Jo Malone London in 1988, moving from home-made creams to best-selling fragrances in a short span. She stayed on as creative director when she sold the company to the Estée Lauder group in 1999, but then quit the industry altogether in 2006 because she temporarily lost her sense of smell following a battle with breast cancer. Malone launched her second business, Jo Loves, […]

Saudis often liken Aramco, the kingdom’s state oil company, to a fat cow or productive hen. The company has for decades been the bedrock of the economy and the enabler of the government largesse to which Saudis have grown accustomed. Now its future has become a source of concern as disquiet grows over plans by Mohammed bin Salman, the deputy crown prince, to sell a 5 per […]

Enhancing Kuwait’s arbitration legal framework in order to render Kuwait a more attractive arbitration venue in the region Kuwait – 10 May 2017 ASAR – Al Ruwayeh & Partners (ASAR), Kuwait’s leading corporate, litigation and finance law firm, co-organized a leading seminar on arbitration with the International Court of Arbitration of the International Chamber of Commerce – Paris (ICC). The ICC is one of the oldest and […]

The Local Government Association of Queensland (LGAQ) has announced a live trial of drone technology to be used for disaster management, utilising Telstra’s 4G network and a combination of three drone operators and four software platforms for the tests. The combination of drone operators and software platforms will allow the drones to fly beyond visual line of sight (BVLOS); however, current legislation still requires drones to be […]

Two Sigma Securities said on Tuesday that it plans to buy Interactive Brokers’s options market-making unit. After completion of the deal, Two Sigma Securities’s market-making offering will “span over 7,000 U.S. equity securities and options on 1,300 underlying securities, executing over 300 million shares and one million options contracts per day,” the company said. “Through this transaction, TSS will integrate Timber Hill’s highly complementary platform to form […]

VISHNU RAJA
RYO YAMADA
HITORI GOTOH
IKUYO KITA
Just in:
ADNEC Abu Dhabi secures regional MICE venue honour // Hyperliquid Strategies pursues US futures registration through subsidiary // Paraguay court detains impeached Peña over bank collapse // BJP’s Counter Rallies To “Expose” Rahul Gandhi, Reveals The Weakness Of The Party // Bail refused to Kochi sex assault accused // Greens back Sreedharan plan // Wall Street’s AI Reckoning Offers India A New Opening // DEWA and Dell pursue stronger digital utility infrastructure // Dubai activates six-lane Al Khaleej Street tunnel // Herzog selects Eisenkot for Israeli coalition negotiations // Basheer sets Feb deadline for delayed ULCCS projects // Coca-Cola bottling holding company submits share sale prospectus // UAE Coast Guard evacuates 22 from burning cargo vessel // Claude Code approval settings expose thousands of credentials // Employees Up In Arms Against Sale Of IDBI To Canadian Company Fairfax // HKUST President and Chinese Academy of Sciences Academician Prof. Nancy Ip Receives UNESCO Honor for a Second Time // Vijayan accuses CM of being evasive // Turkish court remands senior financial regulators in fund investigation // UAE forecast to lead solar output per person // X’mas bumper lottery prize money raised to ₹25 crore //