|By Arabian Post Staff| There is a greater national focus on achieving operational efficiency across sectors in the Middle East – and one notable area that stands to benefit immensely from embracing digitally-enabled solutions is utilities, Booz Allen Hamilton says in its energy trend forecasts for 2017. Change continues to be the defining feature of the global energy sector in 2017. In the oil and gas industry, […]
Saudi Arabia has announced a timeline for implementation of a tax on harmful products including soft drinks and cigarettes, and said it has completely ruled out income tax contrary to previous reports, according to an official document. The Fiscal Balance Program 2020 report, published by the Saudi government last week, said the kingdom would impose a 50 percent tax on soft drinks and a 100 percent tax […]
This year has been tough-going in more ways than one and, by most accounts, Singapore’s economy is expected to be heading for rougher seas in 2017. According to a survey by the Singapore Business Federation, 63 percent of local companies said the economic climate worsened in 2016 and 48 percent believed the downward spiral would continue in the new year. The Monetary Authority of Singapore also warned […]
TOKYO Shares in Toshiba (6502.T) fell more than 19 percent in morning trade on Thursday, clocking a third day of heavy losses after the Japanese tech-to-nuclear conglomerate said earlier this week it faced a potential multi-billion dollar writedown. Late on Wednesday, Moody’s became the second rating agency to downgrade the group, pushing it deeper into “junk”, or non-investment grade territory, with a Caa1 rating, from B3. “Although […]
Principal Investment Arm of the Government of Dubai Grows its Portfolio to AED 736.8 Billion Dubai 28 December 2016 Investment Corporation of Dubai (ICD) announced its consolidated financial results for the six-month period ended 30 June 2016 showing Revenues of AED 82.5 Billion and a Net Profit of AED 10.3 Billion. These results are achieved against a backdrop of lower oil and commodity prices, a strong US […]
ABU DHABI // Five hundred taxis at Dubai airport will soon be equipped with free WiFi. Telecoms firm du has signed an agreement with Dubai Taxi Corporation of the Roads and Transport Authority to provide passengers with free internet and smart screens in the airport cab fleet. “Our cooperation with du to provide internet and smart screens across our Dubai Airport fleet embodies the Smart Dubai strategy […]
Two years ago, James Garstang, a brewer at the Kernel Brewery, one of London’s most popular microbreweries, was approached by a friend about an opportunity abroad. “He said: ‘If you are interested in some karma and curry, then I have a potential job for you,’” Mr Garstang recalls. Less than a month later, the Londoner was living and working in Gwalior, a midsized city in India five […]
Almost all – nine in 10 – Middle East workers believe that employee loyalty is tied to higher productivity, but ‘loyalty’ for them is no longer about remaining in the same company for a long period of time, a survey suggests. Recruitment website Bayt.com surveyed 8,223 respondents from countries including the UAE, Algeria, Egypt, Jordan, Kuwait, Lebanon, Morocco, Oman, Tunisia, Qatar, KSA and Yemen between November and […]
Singapore Oil prices fell in early trade in Asia on Thursday following a surprise build in U.S. crude stocks shown in data published by the American Petroleum Institute (API) late on Wednesday. U.S. benchmark West Texas intermediate (WTI) CLc1 crude futures were down 31 cents or 0.57 percent to $53.75 at 0104 GMT after settling up 16 cents at $54.06 per barrel in the previous session. Brent […]
Planemaker Airbus said on Tuesday it was postponing the delivery of 12 A380 planes to Emirates Airline over the next two years, and added it would step up cost cuts to minimise the impact of these delays. Airbus, whose main rival is US group Boeing, said six deliveries of the A380 would be postponed from 2017 to 2018, with another six postponed from 2018 to 2019, following an agreement […]
If there is one thing that unites Middle Eastern leaders these days, it is concern over what Donald Trump might do in 2017. A true political outsider, Trump will arrive in the White House next month with no track record and no political markers that might give an indication. The list of policy problems is certainly long, yet his list of policy ideas, as mooted during his […]
Gasoline and Aromatics Project will add 4.2 mtpa of gasoline supply and 1.6 mtpa of aromatics Abu Dhabi, UAE – December 28, 2016 The Abu Dhabi Oil Refining Company (TAKREER), an ADNOC Group company announced, today, the awarding of two major contracts for its Gasoline and Aromatics Project (GAP), that will significantly increase its gasoline production capacity. As part of ADNOC’s growth strategy, TAKREER plans to expand […]
By Richard Cowan | PALM BEACH, Fla. PALM BEACH, Fla. U.S. President-elect Donald Trump on Wednesday said telecommunications group Sprint Corp (S.N) and a U.S. satellite company OneWeb will be bringing 8,000 jobs to the United States, celebrating the moves as a result of optimism associated with his election. It was unclear how the 8,000 jobs are related to a $50 billion investment announced in December by […]
Saudi Arabia’s austerity measures will weigh heavily on consumer spending in 2017 with households cutting back on “non-essential” expenses, according to BMI Research. In its latest country report, the Fitch Group firm reiterated its previous forecasts that the kingdom’s economy would fall into recession next year, as fiscal consolidation and oil production cuts impact economic activity. It forecasts real gross domestic product (GDP) growth to decline by […]
New York state’s financial regulator on Wednesday revised a proposal for the nation’s first cyber security rules for banks and insurers, loosening some security requirements and delaying implementation by two months to March 1. The rules from the New York State Department of Financial Services are being closely because they lay out unprecedented requirements on steps that financial firms must take to protect their networks and customer […]
Based on Samsung’s staggered announcements, it appears that the South Korean company is going to inundate CES with a host of new products. After revealing fresh projects baked in its Creative Lab, it has now confirmed three more gadgets: the H7 Wireless Speaker, a new soundbar, and a UHD Blu-ray Player. The trio is being touted as the future of audio on the strength of the so-called […]
Mirdif Hills is set to become one of the most popular residential communities in Dubai. The freehold mixed-use residential, commercial and retail development promises home owners a wide range of residential, shopping and services options when it is completed. In recent years, reasonable rents and a growing volume of lifestyle amenities, such as supermarkets, schools, malls, healthcare facilities, parks and entertainment options have opened, increasing Mirdif’s popularity […]
Arguably the biggest newspaper business story of 2016 was Gannett’s failed (for now) bid to take over Tronc. What the broken deal says about the industry, however, is more than a little ambiguous. For starters, consider that 2016 was a particularly hard year financially, with advertising revenue losses that started bad and got even worse in the fall. Both Gannett and Tronc are profitable on a cash […]
By Yashaswini Swamynathan Wall Street lost ground for the first time in three days on Wednesday due to declines across sectors, slowing the Dow’s race to 20,000. The blue-chip index came within 19 points of the milestone shortly after the open, before slipping into negative territory as losses in Boeing (BA.N) offset Goldman Sach’s (GS.N) 0.86 percent gain. Boeing fell 0.8 percent to $156.26 after Delta Air […]
Construction SPONSORED CONTENT: On the face of it, building a 36-kilometre road might not seem like the most ground-breaking story. But when you take into account that this particular road runs through the highest mountains in the United Arab Emirates, it becomes a different story altogether. The road runs from the city of Ras Al-Khaimah to UAE’s highest peak, Jabal Jais, on the border with Oman. The […]
Law Blog rounds up the morning’s legal news: Law firm hacking: Three Chinese traders earned more than $4 million in illegal profits after they hacked into the computer systems of prominent U.S. law firms and stole nonpublic information on mergers and acquisitions, according to an unsealed federal indictment. [WSJ, NYT] Student loan bankruptcy: Borrowers are beginning to win battles to erase some student loans in bankruptcy court, […]
By Se Young Lee and Stephen Nellis | SEJONG, South Korea/SAN FRANCISCO SEJONG, South Korea/SAN FRANCISCO South Korea’s antitrust regulator fined Qualcomm Inc (QCOM.O) 1.03 trillion won ($854 million) for what it called unfair business practices in patent licensing and modem chip sales, a decision the U.S. chipmaker said it will challenge in court. The fine, the largest ever levied in South Korea, marks the latest antitrust […]
Carrie Fisher, who rose to fame as Princess Leia in the “Star Wars” films and later endured drug addiction and stormy romances, has died at age 60 following a recent cardiac episode. Source link
Even as the Singapore economy is projected to see worsening economic climate next year, local businesses appear unwilling to transform to cope with the changing environment. Just 15 percent of small and midsize businesses (SMBs) and 36 percent of large enterprises strongly agreed with the need to transform to adapt to slowing economic growth as well as technological change and disruption. Across the board, 62 percent agreed […]
