Janet Yellen may have unwittingly helped the Indian dollar-loan market rebound from a three-year low. Less than a week after the Federal Reserve Chair delayed raising U.S. interest rates, billionaire Mukesh Ambani’s Reliance Industries Ltd. hired 16 banks for a $1.5 billion loan and Rural Electrification Corp. also approached lenders. That takes the pipeline of local dollar-denominated loans planned, mandated or in syndication to more than $5 […]
UNITED NATIONS — Mark Zuckerberg, chief executive of Facebook, promoted access to the Internet as “an enabler of human rights” and a “force for peace” on Saturday, as he announced that his company would help the United Nations bring Internet connections to refugee camps. “It’s not all altruism,” Mr. Zuckerberg said later, in an implicit acknowledgment that drawing new users to his service is also good for […]
DUBAI // You are an employer who catches a staff member stealing a chocolate bar from another worker’s desk. Who are you going to call? It may be time you dealt with it internally rather than calling the police, judges say. A series of minor offences have gone through the Dubai Criminal Court recently and judges have voiced their concerns about cases that cost far more than […]
INTERNATIONAL. Gleaming glass skyscrapers, state-of-the-art technology, and wealthy merchant families have replaced the Gulf’s muddy towns and villages populated by traders and pearl fishers that once lacked electricity, running water or modern communications. The region’s modern day projection of a visionary cutting- edge, 21st century urban environment masks however the fact that some things have not changed. Gulf states continue to be ruled by the same families, […]
DUBAI // A woman who claimed she was tortured and threatened with rape after being mistaken for an Al Qaeda terrorist faces months of uncertainty awaiting the outcome of a legal case against the Kenyan government. Mother of three Kamilya Mohammedi Tuweni, 50, relived her 72-day ordeal this week as she gave testimony via video link from London to the high court in Nairobi. She was too […]
In a split decision, the U.S. Court of Appeals for the Federal Circuit in Washington, D.C. today ruled that Apple has the right to seek an injunction to prevent Samsung from using several smartphone features found to have infringed on Apple patents. In a 2-1 ruling, the appeals court asserted that U.S. District Court Judge Lucy Koh erred in an earlier ruling against Apple’s request for an […]
|By Matein Khalid| The world’s emerging markets have been savaged by multiple economic, banking, currency and political shocks since 2011. Global emerging markets are far too diverse and nuanced to be analyzed as a single asset class but now trade at a 24% valuation discount to developed markets. The financial markets now price draconian scenarios for earnings, exports, sovereign credit, industrial production and economic growth. The shortage […]
The U.S. Securities and Exchange Commission has decided to drop a lawsuit accusing two Dubai men of insider trading in Onyx Pharmaceuticals Inc while the cancer drugmaker was mulling a takeover bid by Amgen Inc . Without explanation, the SEC asked U.S. District Judge Paul Oetken in Manhattan to dismiss its case against Dhia Jafar and Omar Nabulsi without prejudice, and lift a $2.55 million asset freeze […]
Middle East By NICK CUMMING-BRUCE September 15, 2015 GENEVA — The brother of a Washington Post journalist imprisoned in Iran for more than a year appealed to a United Nations human rights panel on Tuesday to intercede with the Iranian authorities to obtain his release. Ali Rezaian, whose brother, Jason, was arrested in Tehran in July 2014, made his entreaty at a meeting in Geneva of the United Nations […]
RAMALLAH, West Bank — A Jewish man died early Monday morning after attackers pelted the road he was driving on with rocks as he was returning home from a dinner celebrating Rosh Hashana, the Jewish New Year, the Israeli authorities said. Prime Minister Benjamin Netanyahu called an emergency meeting to discuss rock-throwing, mostly by Palestinian youths. The man was identified in local news reports as Alexander Levlovich, […]
A NASCAR vehicle is seen parked out front during web hosting company GoDaddy’s initial public offering (IPO) at the New York Stock Exchange April 1, 2015. Reuters/Brendan McDermid/Files GoDaddy Inc (GDDY.N) prevailed in a cybersquatting lawsuit brought by the Academy of Motion Picture Arts and Sciences, which accused the Internet domain registrar of illegally profiting off its trademarks, including for the Oscar telecasts. In a 129-page decision […]
|By Matein Khalid| The Federal Reserve could well raise its overnight borrowing rate at the next FOMC monetary policy conclave on September 17. Though contagion from China’s 40% stock market meltdown has triggered bear markets from Hong Kong to Frankfurt and plunged Asian/emerging markets equities into ta ghastly replay of 1998’s epic meltdown (General Suharto’s overthrow, the Russian rouble default, Malaysia’s capital controls, the run on the […]
JERUSALEM — In one scene, a group of Jews wrapped in prayer shawls begin reciting a mystical death curse known as the Pulsa Dinura. A man in a suit who has urged them to invoke the angels of destruction promises that their prime minister, Yitzhak Rabin, “will be dead within a month.” In another scene, an actor plays an Israeli amateur photographer who captured the assassination of […]
Sheikh Saif bin Zayed offers his condolences to the family of Obaid Saeed Al Mazrouei in Ras Al Khaimah. Wam The Deputy Prime Minister offers his condolences to the family of Rashid Saeed Al Hebsi in Ras Al Khaimah. Wam The Minister of Interior, Sheikh Saif bin Zayed, offers his condolences to the family of Ali Hassan Al Shehi in Ras Al Khaimah. Wam Lt. Gen Sheikh […]
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CAIRO — The Egyptian foreign ministry said Sunday that it had summoned the British ambassador to object to his comments on a recent court ruling to jail two journalists, escalating the government’s defense of its crackdown on dissent. The two journalists, Mohamed Fahmy and Baher Mohamed, have attracted special attention because, unlike most journalists in Egypt’s jails, both have had long careers at respected international news organizations. […]
TEHRAN — Iran’s judiciary sentenced two people to 10 years in prison on Sunday for spying for the United States and Israel, but their names were not released, local media reported. It was not clear if the Iranian-American reporter Jason Rezaian, who faces similar charges, was one of them. It is not uncommon in Iran to hand down sentences without revealing names of the convicted, especially in […]
CAIRO — An Egyptian judge on Saturday handed down unexpectedly harsh verdicts in the trial of three journalists from the Al Jazeera English news channel, sentencing them to three years in prison on charges that legal experts said were unfounded and politically motivated. The verdict on Saturday was especially stunning because Egyptian officials had repeatedly signaled that they viewed the trial as a nuisance that had brought […]
A Microsoft logo is seen at a pop-up site for the new Windows 10 operating system at Roosevelt Field in Garden City, New York July 29, 2015. Reuters/Shannon Stapleton NEW YORK Microsoft Corp (MSFT.O) avoided a potentially costly setback to its mobile phone business on Friday as the U.S. International Trade Commission declined to block the import of its devices in a longstanding patent dispute. The decision […]
An Uber representative registers people on his smartphone during the kick off of a citywide jobs tour in the Queens borough of New York July 21, 2015. Reuters/Shannon Stapleton/Files BRUSSELS Brussels will launch a study in September of the taxi-hailing app Uber, in an effort to settle the legal disputes that have pitched the U.S. start-up against conventional taxis across Europe, three people familiar with the matter […]
The Saturday Profile By DAVID D. KIRKPATRICK CAIRO — Mohamed Soltan knew he had one thing going for him when the Egyptian police came to his door: He was a United States citizen, raised primarily in Ohio. It did not mean much in the moment. The police had come looking for his father, Salah Soltan, an outspoken member of the Muslim Brotherhood. But when they found only […]
ABU DHABI // A company’s success lies in its diversity, the chief of Xerox told an audience at the Crown Pince’s Court ahead of Emirati Women’s Day. It is crucial for society to remove obstacles in the workforce that impede women, said Ursula Burns, chairman and CEO of Xerox. “Diversity is a driver of innovation. Gender, race and background give an eye to the world. Organisations succeed […]
CAIRO — Saudi Arabia has arrested the accused mastermind of a 1996 bombing that killed 19 American airmen, a Saudi-owned pan-Arab newspaper reported on Wednesday, citing unnamed officials. The suspect, Ahmed al-Mughassil, was identified in an American federal indictment as a senior leader of an Iranian-backed Saudi militant group that sought to kill American military personnel in the Persian Gulf. The bombing destroyed an eight-story building in […]
Iran has no plans to trade Jason Rezaian, the imprisoned Washington Post correspondent, for any Iranian citizens held by the United States, a Foreign Ministry official was quoted as saying Tuesday by Iran’s private Tasnim News Agency. The assertion, by Hassan Qashqavi, deputy foreign minister for consular, parliamentary and expatriates’ affairs, was a response to what he described as news media reports about such an exchange. “There […]
