Egypt confirmed on Sunday that it had arrested an Al Jazeera news producer, accusing him of “provoking sedition” on behalf of the Qatar-based broadcaster that it considers a mouthpiece of the banned Muslim Brotherhood. Judicial sources said Mahmoud Hussain, who was detained on Friday, was being held on charges of disturbing public security and spreading false news. The Interior Ministry said in a statement that Al Jazeera […]
MILAN/LONDON On the morning of July 29, former Italian Industry Minister Corrado Passera was traveling in a high-speed train toward the medieval city of Siena, racing to meet the directors of the world’s oldest bank to present them with a rescue plan. Monte dei Paschi di Siena, Italy’s third-largest lender, was destined to be wound down within months unless it could raise billions of euros and pull […]
Over the past year, technology and ‘sharing economy’ start-ups have continued their disruption of traditional industries — from Uber and other ride hailers’ shake-up of the taxi market to Airbnb’s myriad alternatives to conventional hotel stays. But which will be the next businesses to be challenged by further digitisation and automation? FT correspondents have looked ahead five to 10 years to identify those industry sectors and companies […]
JERUSALEM: In the days following the UN Security Council’s resolution affirming the illegality of Israeli settlements, it is business as usual as the Jerusalem municipality is expected to approve about 5,600 more homes.Israeli officials acknowledged that the move to expand the settlements in East Jerusalem was a direct response to the Security Council Resolution 2334 that was approved by 14 countries — Britain, Russia, China, France, Egypt […]
26 December 2016 Dubai – The internet of things (IoT) is rapidly gaining momentum within the healthcare industry of the Gulf Cooperation Council (GCC) countries. According to IDC Health Insights, there has been a steady rise in IoT initiatives over recent years, and in some usage scenarios, IoT services are maturing rapidly toward mainstream deployment. The firm projects IoT spending by healthcare providers across the Middle East […]
Online platforms that allow users to read and write reviews of businesses and services afford health care providers an opportunity to learn by listening, physicians report. The authors point to a growing body of literature supporting the value of unstructured reviews in supplementing ratings from formal sources such as the Hospital Consumer Assessment of Heathcare Providers and Systems (HCAHPS). They call on hospital leaders to pay attention […]
Dubai’s Shuaa Capital bought 14 percent of Bahrain’s Khaleeji Commercial Bank on Sunday for 9.6 million dinars ($25 million) and said it would use the stake to support the bank’s expansion. The Dubai-listed investment bank purchased the stake from Alimtiaz Investment Group for 0.065 dinar per share, acquiring 147.1 million shares in a special auction, the Bahraini bourse said. KHCB is an Islamic retail bank with assets […]
SEOUL Headed for a fourth straight annual profit decline, Hyundai Motor (005380.KS) is trimming its cost fat; scaling back on business class flights and annual family home trips for overseas employees, executives told Reuters. The South Korean automaker has been hit by its exposure to weak emerging markets, and a product line-up that features more sedans than sport utility vehicles, just as SUVs have become more popular […]
The UAE will host the FIFA Club World Cup tournament in 2017 and 2018, it has been confirmed following the 2016 final which saw Real Madrid crowned world champions. The FIFA Club World Cup 2016 final, played in Yokohama International Stadium, saw the Spanish giants beat Japan’s Kashima Antlers, thanks to a Cristiano Ronaldo hat-trick. The UAE was previously host to the tournament in 2009 and 2010. […]
Dubai, December 25, 2016 Nikai Electronics, a part of the Nikai Group of Companies, has been honoured with the Sheikh Khalifa Business Excellence Award (SKEA) in the Commercial sector. The prestigious award, an initiative of the Abu Dhabi Chamber of Commerce & Industry, aims at providing continuous improvement and enhancing competitiveness within the business sector in the UAE. The coveted award was conferred to Nikai at a […]
By Jake Spring | NINGDE, China NINGDE, China A dusty village on the outskirts of Ningde, a third-tier city in China’s southeast, seems an unlikely place for the headquarters of a potential global leader in future automotive technology. Yet China’s top-down industrial policy diktats – move up the value chain, clean up polluted urban skies, and shift to plug-in cars – have Contemporary Amperex Technology Ltd (CATL) […]
DUBAI // Anyone who received a drone as a present this year has been reminded that they must register it with authorities. Saif Al Suwaidi, director general of the General Civil Aviation Authority, said it was important people know the regulations that govern drone ownership. “Whether it is received as a gift or bought by the person, it doesn’t matter. People need to register their drones with […]
A Dubai-based developer has announced a partnership with wellness real estate and technology firm Delos to introduce wellness inspired homes to the UAE over the next five years. MAG Property Development said the first project to be carried out by the partnership will be the residences at MAG of Life Creek Resort, the world’s largest wellness concept in Dubai Healthcare City phase 2. The MAG of Life […]
Qatar’s Nebras Power said on Sunday its subsidiary Nebras Power Netherland BV had completed the acquisition of a 35.5 percent stake in Indonesia’s largest independent power producer, PT Paiton Energy. PT Paiton Energy owns a 2,045 MW thermal power plant. Nebras announced the acquisition in a bourse statement. In October, Nebras’ chief executive Khalid Jolo told Reuters the company planned to acquire the stake from France’s Engie […]
TEL AVIV Messaging app Snapchat is buying Israeli augmented reality startup Cimagine Media for an estimated $30-$40 million, marking Snapchat’s first acquisition in Israel, the Calcalist financial daily reported on Sunday. Cimagine developed True Marketless Augmented Reality – technology that allows users to virtually place furniture and appliances they wish to purchase in the space of their home, on their mobile devices, at the click of a […]
When US authorities started pursuing banks for their role in slicing, dicing and packaging the arcane products that sparked the financial crisis, they initially focused on domestic lenders. Now it is Europe’s banks that are in the crosshairs. Two days before Christmas, Deutsche Bank and Credit Suisse have agreed to settle with the US Department of Justice over the alleged mis-selling of mortgage-backed securities in the run-up […]
BEIJING China needs to keep financial market liquidity stable and regulate its “money gates” to prevent asset bubbles, but it also needs to ensure a lack of liquidity doesn’t cause financial stress, according to a commentary in a newspaper owned by the People’s Bank of China. Chinese policymakers face a dilemma as they need to tighten credit to contain debt and speculative investment without triggering a wave […]
The Mohammed bin Rashid Space Centre (MBRSC) and Dubai Municipality have signed an agreement to design and manufacture the first environmental nanometric satellite in the region. The satellite, DM SAT1, is a project of the Dubai Future Accelerators program and is designed to collect and analyze environmental data using space technology. DM SAT1 will provide data for monitoring sandstorms and other environment related activities, including aerosols and […]
DUBAI Iran said on Sunday it had negotiated to pay only about half the announced price for 80 new Boeing (BA.N) airliners in an order that the American planemaker had said was worth $16.6 billion. Boeing and its European rival Airbus (AIR.PA) have both signed huge contracts this month to supply airliners to Iran, the first such deals since international sanctions were lifted under a deal to […]
Mohammed bin Zayed Falconry and Desert Physiognomy School, the first institution in the world to teach original Arab falconry traditions, rules and ethics, has been officially inaugurated in Al Ain City. Named after Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, the project was launched in 2014 to educate future generations about deep-rooted heritage and history of the UAE and the wider Arabian Peninsula. […]
Dubai, UAE, 25 December 2016HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), has received HE Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors of the Roads and Transport Authority (RTA), at DEWA’s Main Office. HE Mattar Al Tayer was accompanied by a high-level delegation from RTA comprising Maitha bin Udai, CEO of the Traffic and Roads […]
BEIJING China’s largely rubber-stamp parliament passed a law on Sunday that will levy specific environmental protection taxes on industry for the first time from 2018, as part of a renewed focus on fighting the country’s pollution woes. Anger has risen in the world’s second-largest economy at the government’s repeated failure to tackle land, water and air pollution, with large parts of northern China enveloped in dangerous smog […]
Fare collection gates have more than doubled at the Business Bay Metro Station on Dubai’s Red Line in response to growing passenger number. The Road and Transport Authority’s Rail Agency said it has added six fare collection gates, raising the number of entry gates at the station to 10. It said the step has been taken in response to the growing footfall at the station, which is […]
By Lucia Mutikani | WASHINGTON WASHINGTON New U.S. single-family home sales rose more than expected in November and consumer sentiment hovered near a 13-year high this month, strengthening the view that the economy will gain further momentum next year. President-elect Donald Trump’s plan to cut taxes and increase infrastructure spending is expected to boost economic growth, though it already has sparked a surge in mortgage rates that […]
