For Indian IT, the world has changed seemingly overnight. The biggest existential threat seems to be US President Donald Trump’s proposed immigration reform that could put substantial barriers to Indian IT being able to corner the market on skilled H-1B visas, thereby threatening the lucrative $75 billion or so that it collects in revenue from the US alone. Equally serious is the fact that the traditional outsourcing […]
BEIJING Even as Chinese Premier Li Keqiang pledges to ensure that blue skies never become a luxury, a state-backed firm is doing brisk business selling 48 yuan ($6.95) cans of fresh air bottled in a forest in western China. Each bottle is good for two minutes of uninterrupted use. From air-filter necklaces to anti-smog stockings, Chinese companies are touting innovative – if not odd – products to […]
By Julia Fioretti | BRUSSELS BRUSSELS Social media companies Facebook Inc, Alphabet Inc and Twitter Inc will have to amend their terms of service for European users within a month or face the risk of fines, a European Commission official said on Friday. U.S. technology companies have faced tight scrutiny in Europe for the way they do business, from privacy to how quickly they remove illegal or […]
Bob Diamond, the former Barclays chief executive, has teamed up with the investment vehicle of the Qatari royal family to launch a bid for Panmure Gordon, the lossmaking stock broker and investment bank. Panmure, whose name dates back more than 140 years, is suffering like many mid-cap brokers from a number of structural challenges, including increased regulation, fewer deals and lower corporate retainers. The deal may be […]
By John Davison | MOSUL, Iraq MOSUL, Iraq After five months of intense fighting, Iraqi forces have begun to drive back Islamic State into the dense and narrow-alleyed Old City of Mosul, with the mosque where its leader Abu Bakr al-Baghdadi declared a caliphate in 2014 firmly in sight. Iraqi leaders say the battle to recapture Mosul is reaching its final stages, trumpeting each gain made against […]
Bahrain’s tourism industry is growing rapidly and is expected to reach $1 billion by 2020, according to figures released ahead of Arabian Travel Market 2017. Bahrain witnessed an 8.4 percent increase in inbound traffic in the third quarter of 2016 and a peak of 1.4 million arrivals during the month of August, a statement said. It added that the Gulf kingdom expects to welcome 15.8 million annual […]
Rachel Maddow may have taken flak for dangling her scoop in front of Twitter users for more than an hour, but the suspense appears to have paid major ratings dividends. The Rachel Maddow Show was the No. 1 cable news program on Tuesday, according to Nielsen ratings, drawing 4.13 million total viewers. Last week, Maddow’s show drew just 2.5 million total viewers, according to Nielsen data provided […]
By Sijia Jiang | HONG KONG HONG KONG Chinese technology conglomerate LeEco is looking to sell a 49-acre U.S. Silicon Valley property less than a year after buying it from Yahoo Inc, sources said, in what is the latest effort by the firm to ride out a cash crunch. LeEco, one of China’s most ambitious companies that grew from a Netflix-like video website to a business empire […]
Overall, there was a 17% increase in the number of companies in MEA in 2016 compared to 2015, with Johannesburg being the leading destination for Africa JOHANNESBURG, South Africa, March 16, 2017 The Middle East Africa (MEA) region has become increasingly important for the majority of global Fortune 500 countries, according to a new report released by Infomineo (www.Infomineo.com ), a global business research company specialising in […]
Office of Government Ethics officials confirmed that four meetings with McGahn ultimately materialized, including one in person. In addition to McGahn, a former Federal Election Commission chairman who is now Trump’s top lawyer, Jones Day attorney Ann Donaldson took part. Jones Day, a private law firm where McGahn was a partner before going to the White House, provided Trump with legal counsel during his campaign. In a […]
The parkas that have made it to the top of Mount Everest and the cover of Sports Illustrated’s swimsuit edition have found their way to Wall Street. Shares of Canada Goose, the maker of down winter coats with coyote fur trim and a circle patch logo, soared in their New York debut on Thursday, rising 26 per cent to $16.08 after pricing at $12.78 a piece, above […]
QInvest, the Qatari investment bank, has announced the acquisition of a plot of land on South Boulevard in Charlotte, North Carolina, US, in conjunction with a GCC investor. The company said in a statement that the property will be developed into an upscale 200-unit, multifamily apartment complex covering 165,000 square feet. It added that the necessary regulatory approvals have been received and the project is already well […]
It’s a story that’s cherished in the hearts of journalism students across the United States: Two enterprising Washington Post reporters, hungry for a big story, dig deep into Richard Nixon’s secretive presidency and expose wrongdoing that eventually pushes him out of office. Except it didn’t happen that way. Not exactly. In fact, the enterprising heroes of Watergate, Bob Woodward and Carl Bernstein, were mostly chroniclers of an […]
Leisure Supercars were all the rage at this year’s Salon International de l’Automobile in Geneva, now in its 87th year… Ten best new cars from the Geneva Auto Show: Ferrari 812 SuperfastLamborghini Huracán PerfomantePorsche Panamera Sport TurismoMcLaren 720SRange Rover VelarPagani Huayra RoadsterMercedes-AMG GT ConceptRuf CTR 2017Bentley EXP 12 Speed 6e ConceptMercedes-Benz X-Class (Source: CEO Middle East YouTube channel) Source link
By Jackie Cai and Adam Jourdan | SHANGHAI SHANGHAI China’s annual consumer rights day TV show turned its spotlight on U.S. sports brand Nike Inc (NKE.N) for misleading advertising and Japanese brand Muji for selling food products allegedly sourced from part of Japan affected by radiation. The state-run China Central Television (CCTV) show – which can have brands and their corporate PR teams scurrying to take evasive […]
ABU DHABI // Tobacco as well as fizzy and energy drinks are expected to be taxed this year, the Minister of State for Financial Affairs announced. Obaid Al Tayer was speaking on Wednesday as the Federal National Council approved a draft law that paves the way for value-added tax (VAT) and excise duties on selected items, by setting up a legal framework for taxation. While the GCC […]
William “Billy” Walters’ stomach for taking risky bets and reading “tells” of opponents made him one of the most successful sports gamblers of all time. It is the same strategy he used to invest in the stock market, his lawyer told a jury as opening statements began in his $40m insider trading trial. Prosecutors have accused Mr Walters of making over $30m in profits and avoiding $10m […]
Retail stocks were once again heading straight for the discount bin on Wednesday. Struggling department store operator Macy’s was the day’s biggest decliner on the S&P 500, dropping 2 per cent to $30.32 following news that one-time suitor Hudson’s Bay now has its eyes on upmarket retailer Neiman Marcus instead. Shares in Macy’s, which have been languishing at six-year lows amid falling sales and profits, had rallied […]
Underlying net profit up 7.3%, driven by continued margin expansion Aamal Company Board recommends a cash dividend of 6% (QAR 0.60 a share) Doha, 15 March 2017 The Board of Directors of Aamal Company QPSC (“Aamal”), one of the GCC’s fastest growing diversified companies, today announces the financial results for the year ended 31 December 2016 Financial Highlights Group revenue marginally down, by 1.8%, to QAR 2,829.1m […]
Emirates on Tuesday advised passengers travelling to the United States to check the status of their flights before heading to the airport amid widespread cancellations caused by storm Stella. The Dubai-based airline is one of several airlines to be impacted by the storm which brought heavy snow and high winds to the northeastern area of the US. In a tweet, Emirates urged passengers to check on its […]
NEW YORK Jeffrey Gundlach, chief executive officer of DoubleLine Capital, said on Wednesday he expected a short-term rally in U.S. Treasuries and that investors should “use the strength” in U.S. stocks to take profits and diversify in overseas markets. “I am surprised with the relentless nature” of equities after the election of U.S. President Donald Trump, Gundlach said on CNBC. Gundlach, who oversees more than $101 billion […]
ABU DHABI // The introduction of value-added tax in the UAE next year, in tandem with the other five GCC countries, will boost government revenues that took a hit with falling oil prices. VAT could generate Dh12 billion in its first year and Dh20bn in its second year, said Sultan Al Mansouri, Minister of Economy. The international monetary fund (IMF) said introducing VAT at a low rate […]
The White House will propose large spending cuts on Thursday for the state department, public broadcasting and environmental programmes as part of its preliminary budget for the 2018 fiscal year. Administration aides call it an “America First” budget — with greater spending on defence, law enforcement and veteran affairs, as well as new education programmes that emphasise school choice. The last are a pet project of Betsy […]
A Saudi soldier was killed by gunmen late on Tuesday in the Eastern city of Qatif, in an incident the interior ministry said was carried out by “terrorist elements”. The security patrol came under fire upon approaching a suspicious vehicle, the statement carried by state news agency SPA, adding that the gunmen fled the area. Eastern Province is home to much of Saudi Arabia’s oil production as […]
