With Formula One such big business in Abu Dhabi, it shouldn’t be any surprise that the country’s first go-kart-racing school has arrived in the capital. Hosted by Al Forsan International Sports Resort, wannabe future F1 racers can learn invaluable advice to improve technical skills and increase confidence at the school. It offers a single class or a bundle of four, teaching future drivers all they need to […]
Nobody likes to admit going along with the consensus. It sounds better to be contrarian, and in markets there is far more money to be made when you latch on to an unpopular notion that turns out to be correct. That is how you get to buy things cheap. But sometimes the herd gets it right, even if it gets overexcited and “overshoots” its target. On balance, […]
TOKYO U.S. President-elect Donald Trump has threatened Toyota Motor Corp (7203.T) over its Mexican-built cars, but the biggest risk from a punitive tariff would be for its compatriot Nissan Motor Co (7201.T), the largest automaker operating in the country. Trump has criticized U.S. companies like General Motors (G.N) and Ford Motor Co (F.N) which manufacture abroad, accusing them of costing U.S. jobs. On Thursday he took on […]
Facebook’s new head of news partnerships will be Campbell Brown, the founding editor in chief of a nonprofit educational news site. Brown, who was previously a journalist for CNN and NBC News, will be “working directly with (Facebook’s) partners to help them understand how Facebook can expand the reach of their journalism, and contribute value to their businesses,” she wrote on Facebook Friday. Brown founded The Seventy […]
Abu Dhabi-based Mubadala Development Co is reportedly mulling plans to commit up to $15 billion to partner with a new fund to invest in global technology. Bloomberg reported that Mubadala is looking to partner with SoftBank Group Corp and Saudi Arabia’s Public Investment Fund in the SoftBank Vision Fund which is set to close in January and will be capped at $100 billion, citing people familiar with […]
January 6, 2017 by: Adam Samson in New York US wage growth accelerated to the quickest pace since 2009 last month, underscoring rising inflationary pressure as President Barack Obama prepares to pass the torch to Donald Trump. Average hourly earnings climbed 0.4 per cent in December from the previous month, beating expectations for a 0.3 per cent pick-up, the Labor Department said in the final employment report […]
Oman’s sovereign net foreign assets are forecast to fall to 28 percent of GDP by 2018 from 48.5 percent at the end of 2016 due to external debt issuance and draw-downs from wealth funds to finance budget deficits, according to Fitch Ratings. The ratings agency, which also said in a statement that the earlier sharp fall in oil and gas prices had hit Oman hard, published Oman’s […]
By Yashaswini Swamynathan U.S. stocks edged lower on Friday after data showed employment in December rose less than expected but a rebound in wages suggested sustained growth in the labor market. The public and private sectors together added 156,000 jobs last month, a U.S. Labor Department report showed, compared with 204,000 jobs added in November. Average hourly earnings increased 10 cents, or 0.4 percent, after slipping 0.1 […]
Police in India’s tech-hub Bangalore said Friday they were still investigating wide-ranging media reports that a number of women were molested during street celebrations on New Year’s Eve, but that still no victims had come forward to register cases. On Thursday, city police commissioner Praveed Sood said in a news conference that after reviewing security-camera footage from the city’s business district, officers “could not find any sign […]
The 16-member SEA-ME-WE 5 Consortium, in which Dubai-based telco du is a stakeholder, has announced the completion of a 20,000km subsea cable infrastructure on schedule. The project is in line with the UAE National Vision 2021 and the National Agenda of sustainable environment and infrastructure, news agency WAM reported. It added the investments from du were instrumental in bringing SEA-ME-WE 5 to the UAE. South East Asia–Middle […]
Chinese internet company Baidu displays its new “Little Fish” voice-controlled home assistant unit which also features a touch screen Chinese internet colossus Baidu is out to make a splash with ‘Little Fish,’ a family robot that is a voice-controlled virtual valet akin to Amazon Echo or Google Home. Baidu showed off “Little Fish,” a translation of its Chinese name “Xiaoyu Zaijia,” on Thursday at the Consumer Electronics […]
PARIS Airbus (AIR.PA) reached a target for at least 50 deliveries of its A350 wide-body jetliner in 2016, two industry sources said on Friday. Widely watched deliveries of the newest European long-haul jet had been delayed by problems in supplies of cabin equipment, notably from France’s Zodiac Aerospace (ZODC.PA). Airbus declined to comment ahead of an annual news conference on orders and deliveries on Jan 11. It […]
A recent collaboration between the business sector and the School of Engineering at Jönköping University will facilitate the adaption of products to new requirements and strengthen the companies’ competitiveness through new work procedures and IT tools. (via WSJ)
Dubai Financial Market (DFM) saw its capitalisation rise by more than 12 percent during 2016 to AED337.6 billion ($91.9 billion), it has been announced. DFM’s General Index increased 12.1 percent to 3,531 points at the end of 2016 compared to 3,151 points at the end of 2015. Indices of eight out of the nine sectors featured on the DFM ended the year in the green, with the […]
Xiaomi’s division in India claims to have topped $1 billion (roughly 6,800 crore rupees) in revenue in 2016, following an announcement in October that it sold more than 1 million smartphones in India in 18 days. In a Facebook post celebrating the revenue milestone, head of Xiaomi India Manu Kumar Jain wrote that the company thinks it’s the first to cross the $1 billion revenue mark in […]
Samsung Electronics has forecast its best quarterly profit in more than three years, projecting that operating profit for the last three months of 2016 surged 50 per cent as strong sales of chips and display panels offset the Galaxy Note 7 debacle. The world’s largest maker of memory chips as well as smartphones estimated its fourth-quarter operating profit at Won9.2tn ($7.8bn), the highest since the third quarter […]
ZURICH Johnson & Johnson (JNJ.N) and Actelion (ATLN.S) have asked Switzerland’s takeover board about the viability of a complicated takeover deal the U.S. healthcare company is discussing with the Swiss biotech firm, newspaper Tages-Anzeiger reported on Friday, without saying how it got the information. The two companies asked about the proposal under which Johnson & Johnson would acquire Actelion while separating its commercialized portfolio from its research […]
06 January 2017 MARC has affirmed its AAA(fg) rating on KMCOB Capital Berhad’s (KMCOB) guaranteed serial bonds of up to RM320.0 million with a stable outlook. The rating and outlook reflect the unconditional and irrevocable financial guarantee provided by Danajamin Nasional Berhad (Danajamin), which carries MARC’s insurer financial strength rating of AAA and counterparty credit ratings of AAA/MARC-1. As at end-December 2016, KMCOB has an outstanding amount […]
Former world number one Tiger Woods said he would compete in the European Tour’s Dubai Desert Classic next month as he charts his comeback from injury. “I’ve always enjoyed playing in Dubai and it’s fantastic to see how the city has grown phenomenally from when I first started playing there,” Woods said on the event website on Thursday. Woods, sidelined by back pain for the past 15 […]
BEIJING An influential Chinese state-run tabloid has chided the New York Times over its reporting practices after Apple Inc removed the newspaper’s app from its China app store at the request of the Chinese government. The Global Times editorial, released on Friday, said the New York Times had in the past four years been “trying to wield influence in China’s internal affairs” by doing investigative stories on […]
For the tourists visiting Abu Dhabi from around the world, buying dates is a top priority when searching for a taste of the UAE to take back home as gifts for family and friends. ABU DHABI // Date traders are in their element during the winter months at Mina Dates Market because the influx of tourists means they are doing brisk business. It seems the little fruit […]
JERUSALEM — Expensive cigars for him and pink Champagne for her? On Thursday evening, for the second time this week, investigators grilled Prime Minister Benjamin Netanyahu of Israel at his official residence as a suspect in an investigation into possible corruption, the details of which have largely been kept under wraps. The police said in a brief statement that Thursday’s session had lasted five hours and that […]
Fine leather accessories do not come cheap. But with so many options on the market for high end leather goods, how does one make a choice? Robert Ettinger, Managing Director of leather brand Ettinger London, shares his tips. 1. Practicality: Choose accessories that will fulfil your requirements in terms of storage and efficiency, be it a briefcase or card holder, Ettinger advises. More often than not, business […]
With all eyes likely on wage growth indications in the subtext of tomorrow’s payrolls report (following The Fed Minutes’ comments on full employment), Goldman Sachs is forecasting a better-than-expected 0.3% rebound in average hourly earnings (helped by more favorable calendar effects) and a better-than-expected 180k payrolls print (albeit with a small rise in the unemployment rate). However, they are careful to note that any downside can be […]
