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SAUDI ARABIA. — In line with its steadfast commitment to supporting the realization of the Saudi Vision 2030 – and its related strategic goals – The Boston Consulting Group (BCG) has inaugurated a year-long Business Analyst Program in the Kingdom. The initiative is especially designed to help nurture young Saudi talents and equip the nation’s youth with the tools, knowledge, and leadership skills needed to excel in the […]

UAE. Project activity in the UAE is forecast to recover in 2017 after a difficult 2016 on the back of a strong recovery in economic growth, according to a new report from Middle East business intelligence service MEED. MEED’s annual UAE Outlook Report for 2016 says that a recovery in oil prices combined with growing public and private sector activity boosted by Dubai’s preparations for the Expo […]

The logo of Samsung Electronics is seen at its headquarters in Seoul, South Korea, July 28, 2016. Reuters/Kim Hong-Ji/Files SEOUL Samsung Electronics Co Ltd on Wednesday unveiled a new Galaxy Note smartphone with a curved screen and iris-recognition technology, seeking to build on the sales momentum that has helped it roar back to surging profit growth. Samsung, the world’s top smartphone maker, saw its January-June mobile profit […]

SolarCity Corp (SCTY.O) agreed to Tesla Motors Inc’s (TSLA.O) $2.6 billion offer to buy the solar panel installer, the companies said on Monday, clearing one obstacle in the way of Elon Musk’s ambitious plans for a carbon-free energy and transportation company. Tesla’s offer represented about half of SolarCity’s value a year ago, a tumble reflecting the solar company’s slowing growth, complex financial structure and the increased scrutiny […]

|By Arabian Post Staff| Dubai’s private developer engaged in developing shopping malls, hotels and mixed use communities says Dubai is well on the way to a strong market recovery. Robert Welanetz, Chief Executive Officer of Majid Al Futtaim – Properties, believes Dubai’s position as a world-class business and investment hub will drive the real estate revival. “We expect the ‘soft’ retail market will continue through the end […]

ABU DHABI // Expatriates will have to pay their traffic fines before they can leave the country for business or holidays, under a plan being considered. The idea has been put forward by the Federal Traffic Council and, if approved, expats will be told to pay their fines at airports and land borders or miss their trip. Road-safety experts say the move could make motorists think twice […]

INTERNATIONAL.  – Higher GDP per capita alone does not determine real quality of life. This is according to the Social Progress Index (SPI) 2016 published recently by US-based nonprofit, the Social Progress Imperative. The Index ranks Finland the world’s most socially progressive country, Canada in second place tops the G7 nations. Economic growth is not the sole determinant of quality of life The 2016 Index finds that whist […]

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Jack Ma, founder and Executive Chairman of Alibaba Group speaks during the inaugural ”Xin” Philanthropy Conference in Hangzhou, Zhejiang Province, China, July 9, 2016. China Daily/via Reuters A Chinese consortium that includes game developer Shanghai Giant Network Technology Co Ltd and e-commerce company Alibaba Group Holding Ltd founder Jack Ma has agreed to acquire Caesars Interactive Entertainment Inc’s online games unit for $4.4 billion in cash, the […]

INTERNATIONAL. Despite significantly increasing investment in compliance and being continuously under the scrutiny of regulators, economic crime in financial services has increased, showing new thinking is needed to make investment in compliance deliver more value and tackle economic crime.　 The views are published in a new paper by PwC examining how the financial services sector (including Banking & Capital Markets and Insurance) responds to economic crime. Financial […]

SAUDI ARABIA. JLL, the world’s leading real estate investment and advisory firm, today has released its Q2 2016 Riyadh and Jeddah Real Estate Overview reports assessing the latest trends in the office, residential, retail and hotel sectors. With Saudi Vision 2030 pivotal to the diversification and restructuring of the economy in lieu of decreasing oil prices, this report highlights that both Riyadh and Jeddah continue to maintain […]

|By Arabian Post Staff| First Gulf Bank reported a lower Group net profit for the first half of this year, recording AED 2.64 billion for the six-month period ended 30 June 2016, compared to AED 2.87 billion for the first half of 2015 FGB, one of the leading banks in the UAE, reported second quarter 2016 Group revenue growth of 3%, while Q2’2016 net profits were recorded at AED […]

EGYPT. JLL, the world’s leading real estate investment and advisory firm, today has released its Q2 2016 Cairo Real Estate overview report determining the factors affecting all sectors in the real estate market. In March, Cairo’s Central Bank announced the devaluation of the Egyptian pound from EGP7.78:US$1 to EGP8.85:US$1 in order to boost the banking system to attract foreign investment and finance major projects, as well as […]

INTERNATIONAL. Following the vote to leave the EU, the UK economy is expected to face challenges in the short term, with high levels of uncertainty leading to a slowdown in business investment and lower GDP growth.  UK: In light of this, PwC has revised down its main scenario real GDP growth projection for the UK to 1.6% and 0.6% per annum in 2016 and 2017 respectively, down […]

Commuters pass by the front of the Bangladesh central bank building in Dhaka March 8, 2016. Reuters/Ashikur Rahman/Files DHAKA/NEW YORK When the Federal Reserve Bank of New York cleared five transactions made by the Bangladesh Bank hackers, the money went in two directions. On Thursday, February 4, the Fed’s system sent $20 million to Sri Lanka and $81 million to the Philippines. The Sri Lankan transaction contained […]

DHAKA/NEW YORK Jupiter. That single word, by a stroke of luck, helped stop the Federal Reserve Bank of New York from paying nearly $1 billion (£757 million) to the cyber-criminals behind a notorious bank heist earlier this year, according to sources familiar with the incident. When hackers broke into the computers of Bangladesh’s central bank in February and sent fake payment orders, the Fed was tricked into […]

Yahoo CEO Marissa Mayer delivers her keynote address at the annual Consumer Electronics Show (CES) in Las Vegas, Nevada in this January 7, 2014, file photo. Reuters/Robert Galbraith/Files SAN FRANCISCO Former Yahoo executive Dan Rosensweig has not worked at the pioneering internet company in nearly a decade. But last week, as Yahoo Inc (YHOO.O) prepared to sell its core internet business, he was sporting a Yahoo T-shirt […]

A Tesla logo hangs on a building outside of a Tesla dealership in New York, U.S., April 29, 2016. Reuters/Lucas Jackson/File Photo Tesla Motors Inc Chief Executive Elon Musk Wednesday unveiled an ambitious plan to expand the company into electric trucks and buses, car sharing and solar energy systems. In a blog post titled “Master Plan, Part Deux,” Musk sketched a vision of an integrated carbon-free energy […]

People play the mobile phone game Pokemon GO in a park in Central Jakarta, Indonesia July 21, 2016. Reuters/Iqro Rinaldi JAKARTA Avid players of smash-hit mobile phone game Pokemon GO in Indonesia, home to the world’s largest Muslim population, are not letting religious decrees or security warnings get in the way of their mission to catch their next cartoon creature. Nintendo’s augmented reality app, in which players […]

Well that didn’t take long. Just two years after its debut as a standalone app, Facebook is reporting that Messenger has reached more than 1 billion active monthly users. That’s in addition to the more than 1 billion users on WhatsApp, the company’s other popular messaging app. Facebook’s main app, with 1.5 billion active monthly active users, is believed to be the single most popular iOS app […]

By transitioning Skype from a peer-to-peer architecture to a cloud-based one, Microsoft aims to enable the messaging and file-sharing service to better keep up with changing technologies and user habits. While the move hasn’t been completed yet, changes made so far have already helped support a number of new features on Skype, including mobile group video calling, near-real-time translations of conversations and bots for automated, artificial intelligence-powered […]

UAE. JLL, the world’s leading real estate investment and advisory firm, today has released its Q2 2016 Dubai Real Estate Q2 Overview report that evaluates the impact of Britain’s exit from the European Union on the Dubai Real Estate Market across office, residential, retail and hotel sectors. Dubai caters to the most open real estate market within the region and as a result is more susceptible to […]

|By Matein Khalid|Brexit will have a profound impact on international banking. It was no coincidence that the shares of UK, German, Swiss, Italian, Spanish and other banks fell 20-25% in a single trading session on news of Brexit. Even American money center banks and investment banks with a large footprint in the City of London fell 8 – 10% on Friday, June 24, 2016. As Deutsche Bank […]

The flight to Europe’s sixth-largest city was business travel as it ought to be – on time, comfortable and efficient, with plenty of room to work and relax. Emirates has a very reliable chauffeur service in Dubai to get you to the airport without any fuss. It takes you straight to the dedicated first- and business-class terminal in Terminal 3. Here you will find a spacious check-in […]

UAE. Implementing change strategies to reinvent the value proposition of the Islamic financial services industry is high on the agenda of industry leaders, according to Deloitte’s new whitepaper entitled “The catalysts for change: Strategic priorities in governance and regulation in Islamic Finance practice.” This necessity is fueled by recent global economic downturn coupled with geopolitical risks that have put more pressure on industry strategists and policymakers. The […]

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