By Caroline Valetkevitch | NEW YORK NEW YORK A U.S. stock rally fueled by optimism President Donald Trump will boost the economy may be near its peak, according to a Reuters poll of strategists who forecast U.S. shares will gain less than 3 percent between now and year-end. The run up since the Nov. 8 U.S. election has left the S&P 500 .SPX at levels many consider […]
A wonderful skyscraper is getting ready and will hang like a fruit above the Earth. Analemma Tower, proposed to be the world’s tallest building, will be a marvel in motion, as it comes pointing to Earth. Its residents will be going over a world tour above the world’s top cities at an altitude of more than 30, 000 miles. What makes the skyscraper so special is that it […]
In a country that is becoming increasingly modern and globalised, there is a renewed focus on what it means to be Emirati and what can be done to preserve local heritage. This weekend, the courtyard of Al Ain Palace will be transformed into a traditional market, with food stalls and demonstrations of traditional medicine practices, such as hijama and tajbeer splinting, for the campaign “My Heritage, My […]
Samsung launched its new Galaxy S8 smartphone with a bombastic event in New York, promising a “new beginning” for mobile handset design as well as for the Korean company amid a series of corporate crises. The Galaxy S8’s signature feature is a new “infinity display” which wraps around the edges of the device to give a larger screen in a smaller body. Claiming the biggest design breakthrough […]
Bank supports initiative by enabling the installation of Qindeel’s book collection kiosks at branches 29 March 2017 Dubai – Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has partnered with Qindeel Printing, Publishing, and Distribution, a subsidiary of the Mohammed bin Rashid Al Maktoum Knowledge Foundation (MBRF), to promote literacy inclusion worldwide. The partnership follows the announcement of March as the dedicated month […]
Dubai is likely to unveil new rent regulations by June, which will reduce the number of landlord-tenant disputes as well as stabilise the emirate’s rental market, sources familiar with the matter told Arabian Business. While the exact details of the draft law were not disclosed, sources confirmed the draft is ready and will soon be sent to the emirate’s Legislative Council for review and discussion. “It will […]
By Elizabeth Piper | LONDON LONDON After nine months of preparation, bitter public argument and a battle with parliament, British Prime Minister Theresa May is launching talks with the European Union armed with a plan she hopes will secure a better divorce deal than many expect. But what is it? Although May has published a policy document outlining a 12-point approach to the talks that will reshape […]
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. Donald Trump is temporary ratings gold, which is either evidence of renewed civic engagement or merely the decline of Western civilization. Variety reports that Fox News “finished far and above its competition in the ratings for the first quarter of […]
LONDON Britain’s financial sector is drawing up proposals on how it could still serve EU clients after Brexit, even as firms begin establishing new operations on the continent to keep access to the European market. Regulatory and banking experts working for the City of London and lobby group TheCityUK are basing their ideas on a ‘mutual recognition’ system. Under this, the European Union and Britain would broadly […]
There’s a chance Microsoft is going to lose a lawsuit over unwanted Windows 10 upgrades, the results of which allegedly caused a permanent loss of data on plantiffs‘ computers. This suit, which only amounts to $5 million (so far), could easily turn into a massive class-action suit if Microsoft cannot counter the threat by finding something in its end-user license agreement (EULA) that holds the […]
By Michel Rose and Sudip Kar-Gupta | PARIS PARIS Former French Prime Minister Manuel Valls said on Wednesday he would vote for Emmanuel Macron in the presidential election, the biggest Socialist Party name to date to turn his back on its official candidate and support the centrist instead. While it was not clear if the defection would benefit poll favourite Macron, who politely thanked Valls, it prompted […]
Bloomberg suffered its second-ever drop in the number of ubiquitous terminals dotting global trading desks as it fell victim to cost cutting by the finance industry. The number of Bloomberg’s distinctive black terminals, used daily by bankers, traders and money managers, fell by 3,145 last year to just under 324,500, down nearly 1 per cent from 2015, according to a report on Tuesday from Burton-Taylor International, one […]
Legendary fashion designer Elie Saab has joined forces with British brand The Rug Company on a collection inspired by his signature design elements: femininity, luxury and modernity. Drawing on his personal passion for architecture and interiors, Saab created three modern rug designs that revolve around themes such as foliage, floral motifs, texture and abstraction. One of the designs, In Bloom, features oversized florals in shimmering silk tones […]
New photovoltaic plant will add 61.3 MWp of installed energy capacity to Risha, Jordan Lowest tariff for solar energy ever presented for a Jordan-based photovoltaic project The plant marks ACWA Power’s strategy of continuous investment Jordan, and its second Solar Photovoltaic Plant The new PV plant will bring the installed capacity in Jordan as controlled by ACWA Power to 1,665 MW further consolidating ACWA […]
AMSTERDAM Elliott Advisors, the activist investor with a 3.25 percent stake in Akzo Nobel (AKZO.AS), said on Wednesday other shareholders owning almost a quarter of the Dutch paints and chemicals group want it to enter into talks with spurned U.S. suitor PPG Industries (PPG.N). Akzo has rejected a 24.4 billion-euro ($26.4 billion) takeover offer by PPG and declined to talk to the U.S. company to see if […]
A mega-merger of the two biggest banks in the UAE should leave the combined company with a larger representation on the benchmark emerging-market index, triggering hundreds of millions of dollars of inflows to the stock, according to calculations by EFG-Hermes strategists. Thursday marks the last day of trading in First Gulf Bank before its combination with National Bank of Abu Dhabi in a deal that creates the […]
If you’re a Cuban focused on visiting the United States for tourism of business purposes, it’s probably going to be a case of “close but no cigar”. As Statista’s Nial McCarthy notes, even though relations between Washington and Havanna have improved hugely over the past few months, Cuba still has the highest rate of U.S. visa refusal of any country worldwide. According to U.S. State Department data, 81.9 percent of […]
This originally ran in our weekly newsletter Local Edition. You can join the conversation here. A few months ago, my son, Max, got me thinking about adaptation. “Everything is different!” the 9-year-old blustered from the back seat after his Kindle finished updating. “I can’t find anything now!” “That stinks,” I told him. But it’s also good practice, I said, for a skill that younger people figure out […]
If meat was handled in the same fashion as broadband in Australia, barbeques would be a lot less popular. Imagine a situation where there is a single government-owned cattle farmer, the weirdly spelled National BoviNe (NBN), and you know of its existence because there are always ads on TV and buses telling you to eat more meat, but consumers are told to continue purchasing meat from butchers, […]
Dubai-based investment bank Arqaam Capital is launching a globally focused hedge fund, it said on Monday, becoming one of only a handful of local firms to offer such a product. Although Dubai has been growing rapidly as a banking centre, the local fund management industry has largely confined itself to traditional equity and fixed income funds which focus on the Middle East region. Areski Iberrakene, who will […]
TOKYO Toshiba Corp’s (6502.T) troubled U.S. nuclear unit Westinghouse intends to file for Chapter 11 protection from creditors, Japan’s government said on Wednesday, as the conglomerate seeks to limit losses that have plunged it into crisis. Yoshihide Suga, the government’s chief spokesman, told a regular news briefing he was aware that Pittsburgh-based Westinghouse plans a bankruptcy filing. Sources with knowledge of the situation have said that the […]
Chinese social media company Tencent has purchased a 5 percent stake in Tesla for $1.78 billion, providing a boost to the company as it prepares for the launch of the Model 3 mass-market electric vehicle. The shares of Tesla increased by 2.7 percent to $277.45 upon the announcement of Tencent’s investment, with the company now close to overthrowing Ford as the second most valuable automobile company in the […]
HE Khalifa Al Mansouri, Undersecretary of the Abu Dhabi Department of Economic Development, delivers welcome note on day one of the Global Manufacturing and Industrialisation Summit Global Manufacturing and Industrialisation Summit held at the Paris-Sorbonne in Abu Dhabi from March 27-30, 2017 Abu Dhabi, UAE, March 28, 2017 HE Khalifa bin Salem Al Mansouri, Undersecretary of the Abu Dhabi Department of Economic Development (ADDED), said that […]
ABU DHABI // Big businesses need to be more aware of the crimes being committed on their watch, one of the country’s most senior police officers has said. Maj Gen Mohammed Al Romaithi, commander-in-chief of the Abu Dhabi Police, said the private sector has a greater role to play in combating crimes, such as drug smuggling through ports. He was speaking at the Unity for Security Forum […]
