Brexit may have come at the most fortunate time for the GCC. As the Gulf seeks greater support to fend off security risks in the region, including Iranian actions, and avenues to shore up bilateral trade in replacement of lost oil revenues, the UK is reaching out to old friends in a bid to strengthen non-mainland European relationships. “We will make it a priority, when the UK […]
3M Co (MMM.N), the maker of Scotch tape and Post-it notes, said it had entered into agreements to sell its identity management business to Amsterdam-based digital security company Gemalto (GTO.AS) for $850 million. The unit, which provides biometric solutions used in law enforcement, border control and civil identification, has annual global sales of about $215 million. “We believe that the identity management business will be better positioned […]
By Jack Kim and Cynthia Kim | SEOUL SEOUL South Korean President Park Geun-hye, engulfed in an influence-peddling scandal, faces a historic impeachment vote in parliament on Friday that could see her become the country’s first democratically elected leader to be ousted from office. Parliament is expected to vote in favour of impeachment, with support from some members of Park’s conservative Saenuri Party, but the Constitutional Court […]
Investors have valued Athene at about $7.4bn in a stock market launch of the US pensions provider, according to people familiar with the matter. Selling shareholders led by private equity house Apollo Global Management are set to raise $1.08bn as bankers handling the float prepare to price shares in the company at $40 apiece, the people said. That is the middle of a range of between $38 […]
By Amanda Becker and Robert Iafolla | WASHINGTON WASHINGTON President-elect Donald Trump named fast-food executive Andy Puzder to head the U.S. Department of Labor on Thursday, drawing criticism from labour advocates worried about his opposition to a higher minimum wage and government regulation of the workplace. Puzder, chief executive of CKE Restaurants Inc [APOLOT.UL], which operates the Carl’s Jr. and Hardee’s fast-food chains, has frequently argued in […]
08 December 2016 “The power and energy landscape in Africa is undergoing significant change” says Evan Schiff, African Utility Week event director, adding that current trends include “the availability of private investment for power and energy projects, the fast development of energy storage, renewable energy is becoming cheaper, gas that is an increasingly attractive mode of power generation in Africa, and that in the next 10 years, […]
Dropbox is often the choice solution for file storage in the cloud, but the problem is that as smartphones proliferate the market, widespread internet coverage is slow to follow suit, so accessing the cloud is not always an easy feat when physically moving from place to place. In this case, cloud-based file storage basically becomes useless on a smartphone. Dropbox previously enabled a solution for this by allowing […]
1776, a Washington, DC-based technology incubator with a direct presence in Dubai, has signed a partnership agreement with the UK Lebanon Tech Hub (UKLTH), a joint initiative by Banque du Liban (Lebanon’s Central Bank) and the UK Government. The partnership is aimed at supporting Lebanon’s fastest-growing tech start-ups and help them break into new international markets such as the UAE and the neighboring Gulf countries. Start-up companies […]
Since announcing the creation of ProPublica Illinois, president Richard Tofel has heard from people in other states hoping the nonprofit investigative organization will set up shop in their cities, too. And it might. But first, they have to figure out the prairie state. ProPublica announced Wednesday the creation of ProPublica Illinois, the search for a Chicago-based editor and seed funding from the Ford Foundation. Two important things […]
By Will Dunham John Glenn, who became one of the 20th century’s greatest explorers as the first American to orbit Earth and later as the world’s oldest astronaut, and also had a long career as a U.S. senator, died in Ohio on Thursday at age 95. Glenn, the last surviving member of the original seven American “Right Stuff” Mercury astronauts, died at the James Cancer Hospital at […]
Major U.S. stock indexes climbed again on Thursday and set fresh record highs as a month-long rally following the presidential election of Donald Trump rolled on. Investors have driven up equities since Trump’s Nov. 8 election over optimism about domestic economic stimulus and reduced corporate taxes and regulations. Supporting the upbeat sentiment on Thursday was a report that showed the number of Americans filing for unemployment benefits […]
RAK Properties has signed a AED30 million ($8.1 million) enabling works contract with Al Nuaimi Group for its upcoming Anantara Resort & Spa within the Mina Al Arab development. The contract between Al Nauimi Group and RAK Properties includes piling and earthworks for a 306-room resort, which will be operated by Minor Hotels under its Anantara brand when it opens in late 2018. The property will feature […]
“Modern Family” star Sofia Vergara is being sued by her two frozen embryos in an unusual lawsuit as part of a three-year battle by her ex-fiance to see the embryos brought to life. The female embryos, which were created when Vergara was engaged to businessman Nick Loeb, are given the names Emma and Isabella and listed as plaintiffs in a lawsuit filed in Louisiana state court on […]
The holiday season 2016 has already started and shoppers are looking out for deals for themselves and for gifting. Gaming consoles are one of the top picks every holiday season. Analysts predict that this holiday season, Sony PlayStation 4 (PS4) will be ahead of Microsoft Xbox One in terms on sales. Global PS4 Sales Surpasses 50 Million On Wednesday, Sony announced that PS4 sales have surpassed 50 million […]
The deals, if finalized, would bring much-needed expertise and foreign investment to Iran’s ailing energy sector. Continue reading the main story Just as important, the agreements provide a lifeline to the rest of the world, experts say, critical to keeping dollars flowing and in cementing relations with European and Asian countries. Few Iranian officials like to acknowledge that in public, insisting that the country is immune to […]
By Alex Lawler and Rania El Gamal | LONDON/DUBAI LONDON/DUBAI Only five of 14 non-OPEC oil producers have agreed so far to meet the group on Saturday for talks aimed at widening a deal to reduce output, casting doubt on whether OPEC will secure the full cuts it is seeking, two OPEC sources said. The Organization of the Petroleum Exporting Countries, which finalised its first oil output […]
The Lifetime Achievement Award handed to Samuel L Jackson during the opening ceremony of this year’s Dubai International Film Festival on Wednesday honours an improbably prolific 40-year career during which the actor has become as ubiquitous as popcorn. Above all else, moviemaking is a business, and on Jackson’s website, you can find a startling fact to explain the true meaning of the citation: “In recognition of his […]
Pop superstar Elton John has postponed a Dubai concert scheduled for next week, citing ill health. The singer-songwriter, who was due to play at Dubai’s Autism Rock Arena on December 15, has moved his show to January 20 at the same venue. The 69-year-old decided to push back the show after being diagnosed with flu, according to a statement. Organisers said all existing tickets will be valid […]
Dell Technologies said its infrastructure group delivered a mixed third quarter as all-flash storage systems, hybrid cloud and hyperconverged gear grew, but storage array and server demand fell. The company’s third quarter results include 52 days of EMC’s business and VMware. Dell said revenue from its legacy businesses were largely unchanged in the third quarter. According to Dell, third quarter revenue was $16.25 billion with a net […]
National Bank of Abu Dhabi (NBAD) secured shareholders’ assent to merge with First Gulf Bank (FGB) at a meeting on Wednesday, a spokesman for NBAD said. First Gulf Bank also secured shareholders’ approval on Wednesday, FGB’s chief executive Andre Sayegh said. The pair announced in July that their boards had approved the tie-up, which will create one of the largest banks in the Middle East and Africa […]
Among the victims of a plane crash that killed 48 people Wednesday night was Junaid Jamshed, a pioneering Pakistani pop star turned religious preacher. Mr. Jamshed’s two careers, and the mourning that followed his death, reflected two conflicting sides of Pakistani society, commentators said. While some of his fans remembered him as a musician others lauded his most recent evangelical persona. The Pakistan International Airlines domestic flight […]
FRANKFURT China’s Fujian Grand Chip Investment Fund has dropped its takeover bid for German chip equipment maker Aixtron after U.S. President Barack Obama blocked the deal. Fujian’s takeover vehicle Grand Chip Investment said on Thursday its offer had lapsed as it had failed to obtain U.S. regulatory approval for the purchase, which had been a condition of the deal. Investors who had already accepted its takeover offer […]
The 19th edition of realty exhibition expecting to attract thousands of NRIs over the 3-day expo Investor confidence gets boost due to demonetisation, home loan rates to be down to 7-8%; RERA, GST and REIT to further improve transparency and bring healthier, sustainable growth Top developers across India meet for exclusive face-to-face interaction. Properties boast features such as eco-friendly housing, water recycling units and […]
Can you imagine a bank where artificial intelligence runs checking accounts, debit cards, and wire transfers? Image: Getty Images/iStockphoto The Milan-London startup connection is getting stronger. After MoneyFarm and Soundreef, yet another promising Italian startup, Euklid, is opening up shop in the UK capital, moving its headquarters to be part of the city’s vibrant ecosystem. The team selected London’s Level39 fintech accelerator as its new center of […]
