Aluminium Bahrain, also known as Alba, has announced that it has secured commitments of about $700 million from Export Credit Agency (ECA) supported facilities to finance its Line 6 Expansion Project. Expected to start metal production in early 2019, Line 6 will boost the annual production by 540,000 metric tonnes upon its full ramp-up, the company said in a statement. It said the new line will bring […]
Damac Properties on Sunday launched Golfotel, the only premium 5-tower hotel property surrounded by a golf course in Dubai. The announcement was made as part of Damac’s participation at the Arabian Travel Market 2017, taking place in Dubai from Monday. Golfotel will feature over 2,000 rooms with golf views of the Trump World Golf Club Dubai, which is set within the 55-million square foot community Akoya Oxygen. […]
By Yashaswini Swamynathan U.S. stock index futures rose sharply on Monday, tracking European and Asian stocks, as investors breathed a sigh of relief after Centrist candidate and market favorite Emmanuel Macron won the first round of the French election. * Polls showed pro-EU Macron is expected to beat right-wing rival Marine Le Pen in a deciding vote next month, reducing the chances of France taking a Britain-like […]
Risk is definitely on this morning as European shares soar, led by French stocks and a new record high in Germany’s Dax, after a “French relief rally” in which the first round of the country’s presidential elections prompted investors to bet that establishment candidate Emmanuel Macron will win a runoff vote next month, and who is seen as a 61% to 39% favorite to defeat Le Pen […]
Two Qatari hunters who endured a 16-month hostage ordeal in Iraq spoke Sunday of their joy at being released, in the first public comments since the group were freed. Mohammed Marzouki was among 24 Qataris and two Saudis who were on a hunting trip in a mainly Shiite area of southern Iraq when they were kidnapped in late 2015. They flew back to Doha on Friday following […]
LONDON British luxury retailer Jimmy Choo (CHOO.L) is seeking offers for the company as part of a review of its strategic options to maximize shareholder value, it said on Monday. The firm, which specializes in shoes and accessories, said it had discussed the strategic review process with its majority shareholder, JAB Luxury, which has confirmed it is supportive of the process. JAB Luxury holds 67.7 percent of […]
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, […]
Investigators said Levashov was believed to have been “carrying out this type of (hacking) activity for more than 10 years, earning huge profits” US authorities moved Monday to take down a global computer botnet behind the massive theft of personal data and unwanted spam emails, as Spain arrested the notorious Russian hacker who operated it. US authorities say the Russian, Piotr or Peter Levashov, had operated the […]
24 April 2017 Dubai – Commercial Bank International (CBI or ‘The Bank’) today announced its financial results for the first quarter (Q1) 2017. Financial highlights – three-months ended 31 March 2017: · Operating Income increased by 9% to AED 203 million versus AED 187 million in Q1 2016. · Net profit of AED 21 million. Advertisement · Net interest income increased by 10% to AED 126 million […]
Dubai’s transport authority has revealed details of a major expansion of the city’s public bus network. The Public Transport Agency of the Roads and Transport Authority (RTA) opened 11 new bus routes including 10 metro feeder services, and improved 13 other routes starting from last Saturday. “The move is intended to bring more happiness to public transport users in general and bus riders in particular. It also […]
By Rodrigo Campos and Megan Davies | NEW YORK NEW YORK U.S. stock index futures rose sharply on Sunday on relief that centrist Emmanuel Macron took the first round of voting in the French presidential election, reducing the prospect of an anti-establishment market shock. Macron will face far-right leader Marine Le Pen in a May 7 runoff and opinion polls on Sunday had him easily winning the […]
The UAE has a Minister of Happiness. It also has a happiness rating, and for three years running has been the highest-ranked Arab country on the global Happiness Index, an annual list compiled by the Sustainable Development Solutions Network, under the General Secretariat of the United Nations. It also ranks 21st globally. A recent YouGov survey revealed that more than three-quarters of new arrivals in the UAE […]
For Myanmar’s first generation of bank customers, there is little difference between a Visa card and one from China’s state-controlled card-payment monopoly, UnionPay. With only 2 per cent of the Southeast Asian nation’s 53m people carrying plastic in their wallets, UnionPay’s rapid push into the frontier market will make its red, blue and green logo one of the first that Burmese youth see when opening an account […]
Many grieving relatives were incensed that the government had minimized the sacrifices of the victims, ordering officials to stay quiet or hide the extent of the fatalities, which have dribbled out over the past three days. Continue reading the main story The government is highly sensitive to the casualty count in the military and has sought to suppress information about such figures. But it is widely known […]
Kuwait’s appeals court ruled Sunday that a government decision to raise petrol prices was in line with the constitution, overturning a decision by a lower court. It said the decision to raise prices was within the cabinet’s powers. Ali al-Ali, one of several lawyers who filed the suit against the government, said on Twitter the group intends to challenge the latest ruling in Kuwait’s supreme court, whose […]
By Mohammed Al-Ramahi | MOSUL, Iraq MOSUL, Iraq Toy shops are thriving in eastern Mosul, with Iraqi children once again able to buy dolls, teddy bears or action figures after Islamic State was driven out of the area. The militant group banned toys with faces or eyes during the three years they controlled Iraq’s second largest city, including any anthropomorphic animals, which they deemed a form of […]
A model demonstrates the Welwalk WW-1000, a wearable robotic leg brace designed to help partially paralyzed people walk at the main system with treadmill and monitor, at Toyota Motor Corp.’s head office in Tokyo, Wednesday, April 12, 2017. Toyota Motor Corp.’s Welwalk WW-1000 system is made up of a motorized mechanical frame that fits on a person’s leg from the knee down. (AP Photo/Eugene Hoshiko) Toyota is […]
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 […]
SHANGHAI/BEIJING Global security companies and their smaller Chinese rivals are jostling for business along Beijing’s modern-day “Silk Road”, the grandiose plan for land and sea routes connecting the world’s second largest economy with the rest of Asia and beyond. Representing investments of hundreds of billions of dollars, the pet project of Chinese President Xi Jinping is seen boosting economic growth at home, and as positive for everything […]
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 […]
For business people, AI presents a variety of challenges. On a technology level, artificial intelligence and machine learning is complicated to develop and demands rich data sets to produce meaningful results. From a business perspective, many business leaders have difficulty figuring out where to apply AI and even how to start the machine intelligence journey. Making matters worse, the constant drumbeat of AI hype from every technology […]
ZURICH LafargeHolcim (LHN.S) is close to announcing that its chief executive Eric Olsen is to step down following an internal investigation into activities at a former Lafarge cement plant in Syria, a source familiar with the matter said on Sunday. The source said there would be a change in leadership at the cement company following reports in the Financial Times and French newspaper Le Figaro that Olsen […]
Authorities from Allegan County informed health officials that a surgeon may have endangered patients as well as the public by performing liposuctions in a pole barn, which served as a center for cosmetic surgery. According to health officials, the county sheriff’s investigators noted that the procedures were carried out in the building along 114th Avenue in Glenn. Glenn residents declared that Dr. Bradley Bastow is the man who allegedly […]
ABU DHABI // The more educated a father is, the more likely he is to encourage his daughter to take up a high-powered career, a study suggests. And an Emirati child with parents in the private sector is much more likely to hold similar aspirations, it says. Before Mariam Al Zaabi had finished university, her father urged her to become a self-sufficient, professional woman. “He wanted me […]
