Sunil John, the founder and CEO of ASDA’A Burson-Marsteller, was presented with the Chairman’s Award at the Middle East PR Awards 2016. Now in its eighth year, the Middle East PR Awards recognises agencies, corporates, teams and individuals who have shown exceptional return on investment, creativity and strategic impact. The Chairman’s Award, one of the top prizes at the industry’s biggest event, is given to an individual […]
By Henning Gloystein | SINGAPORE SINGAPORE Oil prices fell over 1 percent on Friday, dragged by a strong dollar, rising Saudi supplies to Asian clients, and a fall in Chinese imports. Brent crude futures were trading at $48.42 at 0753 GMT, down 58 cents, or 1.2 percent, from their last close, although overall activity was thin after the U.S. Thanksgiving holiday and ahead of the weekend. U.S. […]
After a US election in which hyper partisan news sites helped propel Donald Trump to the presidency, the future direction and financing of this ardent alternative journalism seems unclear. In recent days, some brands and ad platforms have blacklisted the right-wing Breitbart News for hate speech, while Facebook and Google — facing accusations of enabling misinformation online — have acted to prevent their advertising from appearing on […]
Craig Timberg from Washington Post must be bored this Thanksgiving, spending his time concocting a rich and imaginative tale of fake news websites swaying the billion dollar Clinton campaign from no brainer win to a horrible loss. Here we are, once again, with the faux claims out of Washpo — spreading their own ironic fake news of Russian hacking conspiracies and a furious — and all of a […]
Amazon.com Inc is reportedly in talks to acquire Dubai-based online retailer Souq.com for about $1 billion, it was reported on Thursday. Bloomberg reported that the deal will give the US-based e-commerce giant a footprint in the high-growth Middle East market, citing people familiar with the matter. It said Amazon is considering a bid for all of the site, which had initially planned to sell a stake of […]
By Nichola Saminather | SINGAPORE SINGAPORE Asian stocks advanced on Friday as the Thanksgiving break in the United States helped slow a relentless surge in the dollar that has sucked capital out of most emerging markets. The respite for Asian assets may be short-lived, however, with U.S. Treasury yields resuming their climb after the holiday as investors bet that President-elect Trump will adopt policies that increase spending […]
Motoring presenters Jeremy Clarkson, Richard Hammond, and James May’s return to the small screen has been a long while coming but, with the debut episode of The Grand Tour, Amazon has certainly wasted no time showing us where vast sums of the reported USD$250 million it spent on its most expensive TV experiment to date have gone. The Grand Tour picks up in the only logical place […]
Gulf governments are increasingly turning to export credit agencies (ECAs) to finance billions of dollars of infrastructure projects as low oil prices squeeze liquidity in the region. Bankers say that since oil prices fell more than two years ago, eroding state revenues and drying up funding from local and international banks, borrowers are considering ECA finance for everything from airports to oil refinery expansion. The extent of […]
By Tim Hepher and Johanna Decosse | TOULOUSE, France TOULOUSE, France Europe’s largest twin-engined passenger jet, the Airbus (AIR.PA) A350-1000, took to the skies for the first time on Thursday, seeking to grab the spotlight from Boeing’s popular 777. The lightweight carbon-fiber plane, 7 meters longer and able to carry 40 more people than A350s already in service, began a three-hour debut flight at 4.42 a.m ET, […]
Dubai, November 24, 2016 NDIGITEC, the UAE-based creative production company, has announced that it is the creative production partner for a wide range of brand owners and exhibitors at The Big 5 Dubai – the largest construction event in the Middle East currently under way at Dubai World Trade Centre. NDIGITEC Fabrication, the main production contractor for the exhibition stands of its partners, provides conceptualization, design, production, […]
When you pull out your phone to order an Uber in ten years’ time, you’ll probably get a car that drives itself. Then again, you might not get a car at all. The taxi-hailing app is working on technology that would allow for airborne passenger drones that would take users short distances around cities. Speaking at Recode, Jeff Holden, Uber’s head of product, said that the company […]
Theresa May is facing a growing backlash over her flagship business reforms after leading company bosses and the Bank of England’s chief economist urged her to reverse plans on executive pay. Senior finance and corporate figures, including the BoE’s Andy Haldane and GlaxoSmithKline’s chief executive Sir Andrew Witty, have rejected two of the prime minister’s main corporate governance proposals. In a report to be published on Friday, […]
For those familiar with the Cote d’Azur, seeing one of the world’s largest or most luxurious superyachts is commonplace. The region plays holiday home to some of the world’s richest men and women (as well as their toys). You’ll often find the likes of Roman Abramovich’s Eclipse (at 162-metres, it’s the second largest yacht in length) or HRH Sheikh Khalifa bin Zayed Al Nahyan’s Azzam (the world’s […]
U.S. healthcare company Johnson & Johnson (JNJ.N) has approached Swiss biotechnology firm Actelion Ltd (ATLN.S) about a potential takeover, Bloomberg reported on Thursday, citing people it said were familiar with the matter. The report said that deliberations are still at an early stage following Johnson & Johnson’s initial offer, and Actelion is working with an adviser to explore options. Johnson & Johnson Chief Executive Alex Gorsky said […]
Zayed Future Energy Prize leads discussion on innovation for sustainable development in UAE during Innovation Week in Masdar City Abu Dhabi-UAE: 24 November 2016 The Zayed Future Energy Prize convened a majlis of business, science, technology and youth leaders in Masdar City today, to explore ways in which innovation can unlock potential in the economy to sustainably deliver on the goals of the UAE Vision 2021. Entitled […]
Billionaire investor Wilbur Ross, known on Wall Street as the “king of bankruptcy” for his record of buying failing companies, will be tapped as Donald Trump’s commerce secretary, putting an advocate of renegotiating US trade pacts in a key economic post. Mr Ross was a close adviser to Mr Trump during his campaign and helped develop the president-elect’s policies for corporate tax cuts, increased infrastructure spending and […]
Authored by Bonner & Partners’ Bill Bonner, annotated by Acting-Man’s Pater Tenebrarum, Permanently Skewed TRUMP HOTEL, New York – Trump’s rambling army – professionals, amateurs, camp followers, and profiteers – is marching south, down the I-95 corridor. There, on the banks of the Potomac, it will fight its next big battle. Lieutenants in Trump’s army: Bannon, Flynn & Sessions Here at the Diary, we do not […]
Saudi Hollandi Bank on Thursday said it would change its name to Alawwal Bank as part of a new corporate identity that will be rolled out over the next three months. Alawwal, meaning “The First” in Arabic, references the bank’s status as the first bank to launch in the country in 1926. The name change coincides with Royal Bank of Scotland seeking a buyer for its 40 […]
By Stanley Carvalho and Agnieszka Flak | ABU DHABI/MILAN ABU DHABI/MILAN Alitalia could cut up to 2,000 jobs as controlling shareholder Etihad Airways pushes for sweeping changes to turn the loss-making airline around, according to sources close to the matter. The Italian carrier may also ground at least 20 planes to cut certain unprofitable routes on domestic and regional services where it is struggling to compete with […]
|ARABIAN POST SPECIAL|By K Raveendran| As predicted, Emaar chairman Mohammed Alabbar’s foray into e-commerce has already started creating waves in the regional and global online retailing market. In an apparent move to retain its clout, global e-commerce leader Amazon.com is reportedly in talks to acquire Dubai-based online retailer Souq.com. Amazon is reportedly considering a bid for all of souq.com, which had initially planned to sell a minority stake. […]
Jason van den Brand can’t promise that your mortgage won’t end up with Wells Fargo. As chief executive of Lenda, a home-loan provider, he’s in the business of selling mortgages into a huge secondary market in which Wells is a significant player. But he says that a wave of revulsion against the “too big to fail” bank, in the wake of the sham-account scandal, is prompting more […]
Saudi Arabia’s 30-year bonds are outperforming other Gulf debt during volatility triggered by Donald Trump’s election as US president, a sign of unsatisfied demand for Saudi debt and a good omen for issuance expected from Riyadh next year. The week to Nov. 16 saw the largest outflows from emerging market debt on record, according to Bank of America Merrill Lynch, partly because Trump’s election fuelled expectations of […]
While most global equity markets were subdued due to the US Thaksgiving holiday, the FX world was very busy overnight, marked by the relentless dollar surge on expectations of a rate hike not only in December but further in 2017, sending Asian currencies to the weakest level in 7 years: the Bloomberg-JPMorgan Asia Dollar Index reached 103.32, the lowest level since March 2009. The regional FX plunge […]
CASSINO, Italy Fiat Chrysler Automobiles (FCA) (FCHA.MI) will add as many as 2,000 new jobs at its Alfa Romeo Cassino plant in Italy by 2018, Prime Minister Matteo Renzi said on Thursday. Speaking at a conference at the factory, Renzi said there were 4,300 workers at Cassino at present, but added that the number would rise to up to 6,300 over the next 18 to 24 months. […]
