Global Investment House said on Monday that its Elaj Group unit has concluded partial divestment from Al Borg Medical Laboratories Limited to Investcorp and Boubyan Petrochemical Company. Al Borg is the largest chain of private laboratories in the Middle East and North Africa region, according to its website, with 26 laboratories in Saudi Arabia, four in the UAE, two in Qatar, and one each in Bahrain, Kuwait, […]
The key economic releases this week are durable goods and GDP on Thursday. Chair Yellen’s speech on the labor market on Monday afternoon is also likely to garner considerable attention. While the calendar gets quieter in the weeks ahead over the holiday season, there are a few notable macro events to keep traders occupied. This week, the Bank of Japan and Riksbank deliver their latest policy verdicts, […]
Lennar Corp (LEN.N), the No. 2 U.S. homebuilder, reported higher-than-expected quarterly profit and revenue and said the housing market continued to make a “slow and steady recovery.” An improving job market and attractive mortgage rates continue to fuel demand for housing in the United States, helping homebuilders such as Lennar and PulteGroup Inc (PHM.N). U.S. home prices are set to rise almost 5 percent next year, despite […]
Bank supervision and anti-money laundering standards need to be toughened in global geopolitical hotspots as a way of tackling the recent decline in so-called correspondent banking, a global group of policymakers has said. The Financial Stability Board, the group of policymakers and regulators that makes recommendations to the G20 nations, said on Monday that its members should assist other countries in drafting legislation and training supervisors to […]
A senior Saudi cleric and a health ministry official said women should be allowed to work as paramedics and opticians, Saudi newspapers reported on Monday, part of a push to relax strict labour codes in the ultra-conservative kingdom. The government announced an economic reform plan in June that aims to increase the number of women as a proportion of the workforce to 28 percent from 23 percent […]
TOKYO Asian shares slipped to four-week lows on Monday as the prospect of higher U.S. interest rates and a strong dollar stemming from the incoming Trump Administration’s purported policies of cutting taxes and spending heavily threatened to suck capital out of emerging markets. European shares are seen having better luck, following recent gains in shares of banks, resource companies and some automakers. Spread-betters see a rise of […]
By Jack Kim | SEOUL SEOUL A friend of South Korean President Park Geun-hye at the centre of a corruption scandal that led to Park’s impeachment in parliament denied charges of fraud and abuse of power on Monday on the first day of her trial. The friend, Choi Soon-sil, 60, is charged with pressuring big businesses to pay money to foundations that backed Park’s policy initiatives. Prosecutors […]
Cloud accounting software firm Reckon has recently expanded its product scope, offering up finance for Australian small to medium business in a bid to remove red tape and give SMEs cashflow within hours. According to Reckon COO Dan Rabie, the move into the small business lending market was almost a natural progression. “We’ve been selling accounting software to small businesses for many, many years and a lot […]
Ride-hailing app Uber has launched a new service in time for the festive season that enables customers to pre-book cars to and from events. The UberEVENTS service enables customers – from the Gulf and beyond – to schedule rides from 30 minutes to 30 days before they need to travel, Uber announced on Sunday. UberEVENTS is intended to help people travel to and from office parties or […]
Jayant Bhandari warns “there are clear signs that in a very convoluted way, possession of gold for investment purposes will be made illegal” as he discusses India’s attempts to create a cashless society (and consequences of it) and why precious metals and geographical diversification are the most viable options investors around the world, not just India, should be taking. “The situation is getting worse by the day… […]
As its name suggests, Pablo Picasso was a guest in this suite in Rome’s Hotel De Russie for three months back in 1917. The room was redesigned this spring and dubbed the Picasso Suite. It pays homage to one of the world’s most famous artist, with prints and cushions featuring his abstract designs – such as his famous portrait of lover Dora Maar – as well as […]
By Henning Gloystein | SINGAPORE SINGAPORE Oil prices rose on Monday in anticipation of tighter crude supply going into 2017 following the decision by OPEC and other producers to cut output to prop up prices. Brent crude futures, the international benchmark for oil prices, were trading at $55.57 per barrel at 0401 GMT, up 36 cents, or 0.7 percent, from their last close. U.S. West Texas Intermediate […]
With Tesla’s success and financial muscle, its CEO Elon Musk is free to explore new ventures such as his SpaceX and the solar roof project he has just unveiled. His latest interest seems to have zoomed in on tunnels. Musk vs. Traffic This came after an exasperated Musk posted at Twitter that the traffic is driving him nuts so he is going to build a machine that will bore […]
Ahmed Al-Balushi: The agreement contributes towards enhancing our public transport services Talal Al-Mamari: The partnership comes as part of Omantel 3.0 transformational strategy to enable digital society to flourish Muscat, December 18, 2016 Omantel, the Sultanate’s first telecoms provider, and Oman National Transport Company, ‘MWASALAT’, signed a partnership agreement to provide free WiFi in all MWASALAT buses, in addition to providing a number of other services […]
On a clear afternoon on September 28, 2008, Elon Musk was on the verge of a nervous breakdown. Years earlier he had sunk most of his internet fortune into a commercial space company – SpaceX – and was now vying for a lucrative deal with NASA to resupply the International Space Station. There was only one problem: the last three attempts to send a rocket into space […]
By Brenda Goh, Allison Lampert and Brad Haynes | SHANGHAI/MONTREAL/SAO PAULO SHANGHAI/MONTREAL/SAO PAULO New rules governing Chinese airline startups are fueling hopes at Embraer SA (EMBR3.SA), Bombardier Inc (BBDb.TO) and other regional jet makers for a spike in orders next year, but local competition and doubts about size restrictions still loom as major obstacles. The new policy is aimed at encouraging fledgling carriers to boost domestic flights […]
Image: Sarah Tew/CNET Every week, we sound off on the most important technology trends in our Monday Morning Opener. Looking back on 2016, we’ve identified the five tectonic plate shifts that have made the biggest impact on the industry and our readers who use these tools to drive the progress of the planet. So, without further ado, here are the five big tech trends of 2016 according […]
The Middle East mobile phone market suffered its third consecutive quarter-on-quarter decline between July and September, according to the latest figures announced by IDC. Shipments in the region totalled 23.8 million units, down 0.7 percent on the 23.9 million units shipped in Q2 and 19.4 percent on the corresponding period last year. IDC said that given that the quarter-on-quarter decline in Q2 was much steeper at 8.5 […]
By Kylie MacLellan | LONDON LONDON Britain may need a transitional agreement to smooth its exit from the European Union but it should not “buy back” into too many of the bloc’s regulations, Britain’s trade minister Liam Fox said on Sunday. Fox, who campaigned for a Brexit vote in June’s referendum, also indicated he was seeking a flexible approach on trade to try to ensure the best […]
LONDON Leading Brexit campaigner Nigel Farage said on Sunday he wanted to be a bridge between the British government and the new U.S. administration. Last month U.S. President-elect Donald Trump said Farage – the former leader of the United Kingdom Independence Party (UKIP) – would be great as Britain’s envoy to Washington, but the British government dismissed the suggestion. “I can help to be a bridge between […]
Home» Pakistan » General News Monday, 19 December 2016 00:38 Posted by Fawad Maqsood ISLAMABAD: Minister of State for Information, Broadcasting and National Heritage Marriyum Aurangzeb Sunday said that Pakistan Peoples Party media cell should have told Bilawal Bhutto Zardari that Prime Minister Nawaz Sharif’s name is not included in Panama Papers, while Bhutto family’s name […]
Underlines the Importance of Strengthening Partnership with the Private Sector to Achieve Strategic Objectives in the UAE Dubai, UAE: December 18, 2016 The Ministry of Climate Change and Environment launched the ‘Environment and Business Majlis’, aimed at boosting the private sector’s contribution and guided private companies to be aligned with the government’s environmental strategies and create new investment opportunities that involved the ministry and the private sector. […]
LONDON Talks aimed at averting a planned Christmas strike by British Airways (ICAG.L) cabin crews will be held on Monday, conciliation service Acas said. Last week, British Airways said the Unite trade union had called a strike involving one of its five cabin crew fleets on Christmas Day and Boxing Day, Dec. 26. More than 2,500 Unite members who serve as crews on long- and short-haul routes […]
The opening ceremony of the Dubai Parks and Resorts, the Middle East’s largest theme park, was a statement of intent by entertainment businesses to establish the region as a leading entertainment destination. Sheikh Mohammad bin Rashid, Vice-President and Ruler of Dubai, officially inaugurated the Dubai Parks and Resorts on Sunday. With the official opening of Dubai Parks and Resorts, the country is now home – or will […]
