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DUBAI // A wish list of 21 requests from Indian expatriates in the UAE was delivered to Narendra Modi’s office on Monday as the Bharatiya Janata Party leader was sworn in as prime minister. It included long-standing demands such as voting rights for non-resident Indians, encouraging investment in infrastructure, joint-venture incentives and exemption from restrictive taxes. “These issues relate to NRIs all over the world, not just […]

Alex Salmond’s miscalculation gave No voters a perfect excuse to vote Ukip Photo: Christopher Pledger/Telegraph Has Alex Salmond lost it? The question becomes especially pertinent in the light of the SNP leader’s extraordinary reaction to his party’s decidedly underwhelming result in the Euro-elections. It is one thing for party bosses to be disappointed when their charges perform less well than anticipated. However, it is entirely another when they […]

Saudi Arabian Mining Co, or Ma’aden, has appointed HSBC Saudi Arabia as financial advisor for its planned 5.6 billion riyals ($1.49 billion)rights issue, the company said in a statement on Monday. Ma’aden had earlier this month said it was seeking shareholder approval for a capital increase to fund the expansion of its phosphate and gold operations, as well as increase funding for its aluminium business. The company […]

ABU DHABI // Doctors will soon be able to issue repeat prescriptions for up to a year to save thousands of patients costly and time-consuming hospital visits. Patients with a long-term reliance on medication for conditions such as diabetes and hypertension have to visit a doctor every time they need a prescription. But health chiefs are now in the final stages of implementing a refill policy, so […]

A Dubai-based startup has raised $1.6 million in new funding to help launch its software that better connects social media users and the brands they follow. Brndstr Inc. (pronounced ‘brandster’) uses software that allows the brand’s Twitter accounts to automatically respond to #hashtags with offers and vouchers. For example, if a Twitter user retweets a brand’s tweet, then that user can automatically be sent a voucher giving […]

CAIRO — Voters around the capital lined up Monday morning to cast ballots in an election universally expected to make Abdel Fattah el-Sisi the next president of Egypt, turning out to show their support in a contest where turnout is the biggest question. In an interview on a pro-Sisi talk show Sunday evening, Abdel Aziz Salman, the general secretary of the High Presidential Election Commission, said that […]

|By K Raveendran| It is indeed a milestone in the history of UAE’s expatriate business. The purchase of a controlling stake in Travelex by Dr B R Shetty is easily the biggest acquisition by an expatriate both in terms of its value and profile. It is also perhaps the biggest global brand acquired by a UAE-based Indian entrepreneur. There have been buyouts of higher values, but these […]

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Asian shares hit one-year high on Monday thanks to a strong session on Wall Street and a decisive win for billionaire Petro Poroshenko in Ukraine’s presidential election. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.15 percent while Japan’s Nikkei share average gained 0.7 percent to hit one-month high. Investors took their cue from upbeat U.S. hosing data on Friday, with sales of new single-family homes […]

BANHA, Egypt — His face smiles down from campaign banners everywhere, but splashes of red paint have bloodied a few. Abdel Fattah el-Sisi, the former army field marshal who led the military takeover last summer, is certain to win a landslide victory in the pro forma presidential election on Monday and Tuesday. But in this town about 30 miles north of Cairo, the mood is a discordant […]

DAMASCUS, Syria — For Younes al-Nasr, a lifelong train lover, the Hejaz railway station here in the heart of the Syrian capital is a repository of shelved ambitions. Every day, Mr. Nasr, 68, a Transportation Ministry employee, pads around his offices in the Ottoman-era building, where light filters through red, yellow and blue stained glass. He imagines the past — the few short years a century ago […]

ABU DHABI // Technical faults and human error are the two major causes of bus accidents, according to the drivers of labourers’ buses. They said that mobile-phone use while driving, drivers not getting enough sleep and older buses with outdated braking equipment also play a role. Most of the buses are fitted with air braking systems, which often fail, the drivers said. “All workers’ buses should be […]

Naomi Campbell during her birthday party At The Billionaire’s Club Photo: GETTY IMAGES Sir Cam makes a stand on Scotland If there’s one thing likely to get Sir Cameron Mackintosh’s goat, it’s asking him to comment on reports about run-ins with locals in the Scottish coastal village of Mallaig. Sir Cameron Mackintosh: Mallaig people ‘unbelievably supportive’ (REX FEATURES) Over the past decade, his nearly 15,000-acre estate in the […]

Investors built up the largest bullish bets on rupee in more than two years in recent weeks, while sentiment on the Thai baht turned the most sour in three months, a Reuters poll showed on Thursday, as the countries’ political fortunes turned in markedly different directions. Long positions in the Philippine peso and the Malaysian ringgit rose to their highest levels in more than one year as […]

|TAP Special|Travelex, which has been acquired by leading UAE businessman Dr. B. R. Shetty along with his partners associated with Centurion Investments, will continue to operate independently of UAE Exchange. The acquisition, to be effected through BRS Ventures & Holdings Limited, a company owned by Dr Shetty and equity partners associated with Centurion, is subject to customary regulatory and other approvals and consents.  The acquisition will not […]

Venture capitalist Chamath Palihapitiya, the former Facebook VP of growth for mobile and international, has criticized Apple’s strategies, saying the company is “screwed.” Palihapitiya, however, has a lot of praise for Facebook and Google.(Photo : Getty Images) Venture capitalist Chamath Palihapitiya says that Apple has lost its “mojo,” compared with the overall better jobs being carried out by tech rivals Facebook and Google. Palihapitiya, who describes himself […]

In the world’s biggest country, railways are still a route to riches. With nearly 1 billion passengers a year and $42 billion in annual sales, the state company Russian Railways is a giant commercial opportunity. At its head is Vladimir Yakunin, an old friend and long-standing ally of President Vladimir Putin. He oversees a company that strikes international deals, issues bonds to major investors and plans hugely […]

Let’s analyze what we should be careful about in the midst of the recent eBay hacking scandal. There are many lessons that can be learned from the incident about our privacy and security online.(Photo : Brian Cantoni I Flickr) As many of us have already found out, eBay was recently hacked while asking users to change their information and passwords. The question, however, is what we have […]

Apple’s blockbuster acquisition of Beats Electronics isn’t for technology. It’s for the talent. Apple reportedly wants music industry heavyweights Jimmy Iovine and Andre Young a.k.a. Dr. Dre on its executive board.(Photo : Beats Music) Apple’s rumored $3.2 billion acquisition of Beats Electronics is still happening, even though sources say the deal almost did not pull through several times, because Apple wants Jimmy Iovine and Dr. Dre on […]

|TAP Special|UAE Exchange owners are said to be in talks with Apax Partners, the London-based private equity firm that controls Travelex Holdings, to buy majority stake in Travelex. The transaction may be worth about 500 million pounds ($843 million). UAE Exchange is owned by BR Shetty, Centurion Investment and Infinite Investment LLC belonging to Abu Dhabi’s bin Butti family. Bloomberg reported quoting unnamed sources that a deal […]

The surge in oil prices driven by Chinese demand has added $1 trillion to output in the Gulf Cooperation Council countries over 10 years, according to HSBC Holdings Plc. The six-member bloc’s gross domestic product increased to $1.7 trillion between 2003 and 2013, bringing per capital GDP to an average of $35,000, HSBC said in a report on the effect of a “globalizing China” on the Middle […]

Emaar Properties, owner of the world’s biggest mall, hired HSBC Holdings and Emirates NBD  as bookrunners for the initial public offering of its retail arm, with Rothschild as financial adviser, five people familiar with the matter said. National Bank of Abu Dhabi and EFG Hermes Holding Co. will also be bookrunners on the sale of between 25 percent to 30 percent of the malls unit on the […]

Qatar’s Ooredoo has signed a $1 billion five-year revolving credit facility, the telecommunications operator said in a statement on Thursday. Ooredoo will use the new facility to repay a $750 million loan due in May 2015, with the rest to be allocated for general business purposes, a filing to Qatar’s stock exchange said. Seventeen banks helped to fund the loan, including Barclays , HSBC and Qatar National […]

The MIT Enterprise Forum Arab Startup Competition, one of the biggest startup events in the Middle East, will announce its winner on Thursday evening at an event in Cairo. Here’s the five startups that caught the Wall Street Journal’s eye from the shortlisted semi-finalists. Elwafeyat.com: The concept of Cairo-based Elwafeyat.com is dead easy to understand. The website is an online platform to honor deceased family members and […]

The Tories are the only party offering a realistic prospect of the referendum that Ukip longs for – and David Cameron needs all the allies in Brussels that he can get Photo: Eddie Mulholland It is a political truism that the European and local elections are an irrelevance, certainly compared with the serious business of a general election. Yet even if that were true, we are still on […]

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