Soft-drinks maker Dr Pepper Snapple Group Inc (DPS.N) said it would buy Bai Brands LLC, a maker of antioxidant beverages, for $1.7 billion in cash. The purchase price includes a tax benefit of about $400 million on a net present value basis, Dr Pepper Snapple said on Tuesday. Dr Pepper Snapple bought a minority stake in Bai last year and is one of the company’s “Allied Brands,” […]
22 November 2016 Dubai – ICT spending in the Middle East, Turkey, and Africa (META) is forecast to total $243 billion in 2017, according to the latest insights presented today by International Data Corporation (IDC). Hosting its annual ‘IDC Predictions’ event at Dubai’s Burj Al Arab hotel, the global technology research and consulting services firm said it expects the region’s ICT market to grow 3.6% year on […]
The UK’s world-renowned Red Arrows, officially known as the Royal Air Force Aerobatic Team, is to perform a display over Abu Dhabi Corniche on Thursday. The display at 4pm local time will last for about 24 minutes and will include breathtaking moves such as the “heart and spear” and “corkscrew”, news agency WAM reported. The jets can move to within six feet of each other during the […]
After a flurry of rumors, OnePlus 3T has already hit the market. Now, does it live up to the hype? The tech world is already testing, scrutinizing and possibly tearing the device down or subjecting it to some cruel torture — all to bring the public the most revealing insights about this new piece of technology. Reviews are coming out of the press as we speak and […]
By Henning Gloystein | SINGAPORE SINGAPORE Oil prices rose to their highest level since October on Tuesday as the market priced in an expected output cut led by producer cartel OPEC, but analysts warned that a failure to agree on a cut could lead to a deepening supply glut by early 2017. International Brent crude oil futures rose as high as $49.63 a barrel on Tuesday, up […]
Dubai’s Shuaa Capital announced on Monday the completion of a deal allowing Abu Dhabi Financial Group (ADFG) to buy a 48.36 percent stake in the investment bank. Alternative investment firm ADFG agreed in June to acquire the stake from Dubai Banking Group, a subsidiary of Dubai Group. Shuaa received approval from both the central bank and the stock market regulator last week and the deal has now […]
Riyadh, 22 November 2016 Investcorp, a global provider and manager of alternative investment products, today announced that an entity managed by it has invested in a stake in the leading private medical laboratory chain in the GCC, Al Borg Medical Laboratories (“Al Borg” or the “Company”). Established in 1999 in Jeddah, Al Borg has 53 laboratories across eight countries in the GCC and Africa, with a clear […]
What does Europe’s top judge think of a full-blooded British tabloid headline casting justices as “Enemies of the People”? With a nod to propriety, Koen Lenaerts insists that he “cannot speak about ” that Daily Mail front page or the specifics of a landmark British ruling on parliamentary approval for Brexit. But the European Court of Justice president is unable to resist making a broader point. “I can say […]
Submitted by John Whitehead via The Rutherford Institute, “We Americans are the ultimate innocents. We are forever desperate to believe that this time the government is telling us the truth.”—Former New York Times reporter Sydney Schanberg Let’s talk about fake news stories, shall we? There’s the garden variety fake news that is not really “news” so much as it is titillating, tabloid-worthy material peddled by anyone with […]
Photo A view of Aleppo from rebel-held territory. Staffan de Mistura, the United Nations special envoy to Syria, said he feared that the eastern part of the city could be razed before Donald J. Trump is inaugurated. Credit Abdalrhman Ismail/Reuters BEIRUT, Lebanon — The United Nations special envoy to Syria offered unsolicited advice on Monday to President-elect Donald J. Trump: Pay attention to what happens between now […]
Torture and other forms of ill-treatment persist in Bahrain despite reforms introduced by the Gulf Arab kingdom to address alleged human rights abuses after a 2011 uprising, Amnesty International said on Monday. An Amnesty report assessing the work of oversight bodies set up to deal with grievances or guard against further abuses said it had found “serious shortcomings” in the work of two British-supported institutions whose work […]
By Saikat Chatterjee | HONG KONG HONG KONG Asian stocks struck one-week highs with investors undeterred by a powerful earthquake in Japan on Tuesday, but after Wall Street closed at a record peak they were also wary of chasing prices higher until President-elect Donald Trump picks his economic team. Crude oil extended gains in Asian trading with U.S. West Texas Intermediate (WTI) up 1 percent in early […]
ABU DHABI // Youths from across the Emirates met on Monday to dream up plans for unmanned vehicles capable of saving lives in an emergency situation, and build models of them. The Make It engineering and manufacturing competition, hosted at Khalifa University by Mubadala and the Abu Dhabi Education Council, challenged 95 public and private school pupils to develop a business strategy around their prototypes. Pupils had […]
The UK’s Autumn Statement arrives laden with investors waiting to see whether the British government will make good on recent heavy-handed hints about fiscal expansion. Past Treasury updates have tended to be a damp squib in global financial markets — political posturing and fiddling with tobacco taxes rarely able to catch the interest of international money. This year however the chancellor, Philip Hammond, has an opportunity to […]
Doha, Qatar – November 22 2016 Aamal Readymix, a branch of Aamal Company Q.S.C. and one of Qatar’s largest producers of quality ready mixed concrete has been awarded the First International Qatar Sustainability Award 2016 by the Qatar Green Building Council (QGBC). The award recognizes Aamal Readymix’s contribution to green and sustainable design in the development of concrete under the Green Building Material and Green Concrete categories. […]
Abu Dhabi Commercial Bank (ADCB) has closed a $600 million three-year syndicated loan, Wells Fargo, the bank that coordinated the debt transaction, said in a statement. The facility, which was syndicated to Asian banks, offers an interest rate of 95 basis points over the London Interbank Offered Rate (Libor). The loan initially closed at $220 million after a limited syndication which saw the participation of seven banks. […]
Symantec, a computer security company, has decided to buy identity-theft protection company called LifeLock for around $2.3 billion or $24 per stock. With the goal of improving its consumers’ computer security sector, Symantec has agreed to acquire LifeLock, seller of identity protection services. The board of directors for both companies has approved the deal, which was bound to close in the early part of 2017. The World’s […]
Submitted by Howard Kunstler via Kunstler.com, America didn’t get what it expected, but perhaps it got what it deserved, good and hard. Daddy’s in the house and he busted straight into the nursery and now the little ones are squalling in horror. Mommy was discovered to be a grifting old jade who ran the household into a slum and she’s been turned out to solemnly await the […]
WASHINGTON U.S. President-elect Donald Trump released a video on Monday laying out actions he will take on his first day in office on Jan. 20, including withdrawing the United States from a Trans-Pacific Partnership trade deal. Trump also said he would issue a rule cutting government regulations, direct the Labor Department to investigate abuses of visa programs, and cancel some restrictions on energy production, including shale oil […]
The United Arab Emirates could refer the United States to the World Trade Organisation over anti-dumping charges levied on steel pipes, a senior official said on Monday. The US International Trade Commission announced on Friday it was taking measures against UAE, Oman and Pakistan in relation to circular welded carbon-quality steel pipes, after a Department of Commerce investigation found them to be sold in the United States […]
Dubai/London: November21, 2016 Advance Global Capital (AGC), announced the partnership with Invoice Bazaar, a FinTech Supply Chain Finance platform in the United Arab Emirates for offering receivables purchase from SME suppliers. As part of the initial term sheet signed, AGC is committing a capital of AED 4 Million (US$1.1Million) as the first tranche towards purchase of receivables mainly targeted towards the SME segment. Supply Chain Finance, is […]
Mylan NV (MYL.O) has declined a U.S. Senate committee request to testify about a $465 million pending settlement to resolve charges the company underpaid government healthcare programs by misclassifying its the EpiPen emergency allergy treatment. In a Nov. 18 letter to the Senate Judiciary Committee released on Monday, Mylan said the company would not attend since government agencies had also refused to testify. Senator Chuck Grassley, who […]
The 11km Boardwalk at Palm Jumeirah in Dubai was officially opened on Monday by Nakheel chairman Ali Rashid Lootah, marking the completion of another new attraction at the world-famous island. The AED150 million Boardwalk was created by building out over the rocks of the island’s protective breakwater to produce a six metre wide promenade – and a new destination for fitness, leisure and socialising. Accessible from 14 […]
Six people suffered minor injuries in a 25-car pile-up on the busy Al Ain-Abu Dhabi Road on Monday morning, according to Abu Dhabi Police. “Twenty-five vehicles were involved in an early-morning crash due to low visibility,” said Brigadier General Ali Khalfan Al Dhaheri, director-general of central operations at Abu Dhabi Police. The injured received first aid on the spot and were then taken to Tawam Hospital in […]
