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Integrated lifestyle development establishes a new benchmark for experiential travel in the region Dubai, UAE – 27 April 2017 – Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia, together with Marriott International (NASDAQ: MAR) today announced plans to launch the region’s first cinema-themed concept at Aloft Dubai City Centre Deira. The concept will feature a unique […]

By Alastair Macdonald | BRUSSELS BRUSSELS European Union leaders will endorse a stiff set of divorce terms for Britain at a summit on Saturday, rejoicing in a rare show of unity in adversity, but well aware that may start to fray once negotiations begin. Meeting for the first time since British Prime Minister Theresa May formally triggered a two-year countdown to Brexit in late March, the 27 […]

Rumors of a mighty Galaxy Note 8 have already been making rounds for a good while, but Samsung just confirmed it. At one point after the two Galaxy Note 7 recalls, it seemed uncertain whether Samsung would continue the series and launch a Galaxy Note 8. Rumors started to intensify nonetheless and it seemed like a given that a Galaxy Note 8 would arrive this year, and […]

When the U.S. Marines and Allied forces stormed the beaches of Normandy in June 1944 over 200,000 Allied forces lost their lives in a matter of weeks. Now, courtesy of some futuristic military technology, “storming a beach” can be done from a completely remote location with some machine-gun wielding robots and not a single human casualty.  Per a recent Fox News note, in addition to miniature robot […]

I was at an event recently that screened a 1956 short film—Key to the Future—in which GM envisions what self-driving cars would look like in 1976. The footage—with a uniformed guy in a control tower directing a singing family along a highway for autonomous vehicles—inspired chuckles from the audience. One aspect of the video that did become a reality is the interstate highway system, a […]

28 April 2017 Beirut, April 27, 2017 US$ 43.9 billion of assets US$ 36.0 billion of customers’ deposits US$ 17.0 billion of loans to customers Advertisement US$ 3.8 billion of shareholders’ equity US$ 110 million of net profits in the first quarter of 2017, of which 23% from Odea Bank and 10% from Bank Audi Egypt, raising the contribution of entities abroad to consolidated net profits to […]

By Girish Gupta | LOS TEQUES, Venezuela LOS TEQUES, Venezuela Hundreds of activists marched on Friday to the hilltop jail of Venezuela’s best-known detained opposition leader Leopoldo Lopez in the latest of a month of protests against the socialist government. Security forces blocked access to the decrepit-looking penitentiary next to a slum in Los Teques, an hour’s drive from the capital Caracas, as the demonstrators shouted “Leopoldo!” […]

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BERLIN German Chancellor Angela Merkel said on Friday that Emmanuel Macron would make a “strong president” for France, throwing her weight behind the centrist favourite to win a run-off on May 7 against far-right candidate Marine Le Pen. Asked in an interview if Germany would accept future French demands that it increase its contributions to the European Union, Merkel said: “We will see. I can’t anticipate the […]

Despite the proclaimed stand of Republican lawmakers to repeal and replace the Obamacare, or 2010 Affordable Care Act, the numbers are eluding the GOP (grand old party) lawmakers as factions within the party are divided on the matter. The GOP will require 216 votes to push their version of the healthcare bill. Factions, however, do not see eye to eye on many of the contentious issues incorporated […]

Sheikh Mubarak Al Sabah Hailed Industry Pioneer at Arabian Hotel Investment Conference April 28 2017, Dubai UAE: His Excellency Sheikh Mubarak A M Al Sabah, founder and chairman of Action Hotels has been acknowledged by the region’s hospitality sector after receiving the signature Industry Pioneer award presented by His Highness Sheikh Ahmed bin Saeed Al Maktoum at the Arabian Hotel Investment Conference (AHIC 2017) in Dubai (yesterday, […]

I’m a PC gamer who hasn’t owned a home video game console in five years. I don’t mention that to obnoxiously flex my PC Master Race muscles or look down upon filthy console peasants. Instead, it’s to highlight how thoroughly done I am with those generic black boxes that sit in entertainment centers and simply…exist. I may not be the most hardcore PC gamer, but […]

By Lucia Mutikani | WASHINGTON WASHINGTON The U.S. economy likely hit a soft patch in the first quarter as an unseasonably warm winter and rising inflation weighed on consumer spending, in a potential setback to President Donald Trump’s promise to boost growth. Reduced business investment in inventories and government spending cuts also crimped gross domestic product growth. A Reuters survey of economists conducted last week forecast GDP […]

Good morning. Here’s our morning roundup of all the media news you need to know. Want to get this briefing in your inbox every morning? Subscribe here. When Barack Obama was vacationing recently with Bruce Springsteen, Tom Hanks and Oprah Winfrey aboard a $300 million yacht in Tahiti, one wonders if he ever hummed Springsteen’s “All Or Nothin’ At All.” At the moment, it seems like he […]

On the last day of the busiest earnings week in a decade, here is a striking statistic from Goldman Sachs, showing just how dominant a handful of large cap companies have become in terms of both overall profitability and market impact: Year to date the top 10 contributors have combined to account for 37% of the S&P 500 index return (more than double their market cap representation […]

A prominent Bahraini activist jailed for life for his role in anti-regime protests has been on hunger strike for two weeks to protest the treatment of prisoners, campaigners said Thursday. Abdulhadi al-Khawaja, who also holds Danish citizenship, is an outspoken critic of Bahrain’s Al-Khalifa monarchy, which has ruled the tiny Gulf archipelago for more than two centuries. Khawaja began the hunger strike on April 12 in a […]

Short-term borrowing costs in China have climbed to their highest level in two years as comments from President Xi Jinping fan investor expectations that a “regulatory windstorm” is part of a broader crackdown on the financial sector. China’s premier on Thursday described finance as the “core of a modern economy”, according to state news agency Xinhua, adding that “accurate judgment of potential financial risks serves as a […]

An early player in drone-tech, 3D Robotics Inc., announced that it has raised $53 million in a Series D round of funding on Thursday, including new equity funding and conversion of debt equity. Atlantic Bridge led the round joined by Autodesk Forge Fund, True Ventures, Foundry Group, Mayfield and other undisclosed investors, according to the company statement. The company didn’t break out how much new capital it saw […]

By Philip Pullella | ROME ROME They will not be drawing swords like their predecessors did 1,000 years ago, but battle lines have been drawn between conservatives and reformers in the Knights of Malta, the Catholic chivalric order and global charity. Its former leader, Briton Matthew Festing, has returned to Rome for a decisive boardroom confrontation over its future this Saturday, defying a request to stay away […]

InterContinental Hotels Group (IHG) is in talks with investors about introducing its US-based Kimpton Hotels & Restaurants brand to the UAE. Pascal Gauvin, IHG’s India, Middle East and Africa COO, told Arabian Business that Nasdaq-listed IHG began discussions with investors in January and hopes to sign a deal this year. After that, it intends to launch boutique hotel brand Kimpton in Dubai, first, within the next 3-5 […]

WASHINGTON U.S. President Donald Trump told Reuters on Thursday he will either renegotiate or terminate what he called a “horrible” free trade deal with South Korea and said Seoul should pay for a U.S. anti-missile system that he priced at $1 billion. In an interview with Reuters, Trump called the five-year-old trade pact with South Korea “unacceptable” and said it would be targeted for renegotiation after his […]

Global energy markets are heading to a rebalancing in the next years after oil prices fell to historic lows due to oversupply, Qatar’s energy minister said Thursday, praising OPEC members for their adherence to a “successful” November deal to cut production. Qatar’s Minister of Energy and Industry Mohammed Saleh Abdullah Al-Sada told the Atlantic Council summit in Istanbul that a decade of high oil prices had led […]

Alphabet, Google’s parent company, reported a 22 per cent surge in sales, despite fears that marketers were withdrawing advertising dollars from its YouTube video site because of worries about ads appearing next to extremist content. The Silicon Valley company’s shares, up 21 per cent in the past year, rose 4 per cent to $928.30 in after-hours trading in New York. Sundar Pichai, Google chief executive, said the […]

By Yeganeh Torbati | WASHINGTON WASHINGTON The United States issued about 40 percent fewer temporary visas in March to citizens of seven countries covered by President Donald Trump’s temporary travel bans than it did in an average month last year, according to a Reuters analysis of preliminary government data released on Thursday. At the same time, the data showed that the total of U.S. non-immigrant visas issued […]

The Nintendo Switch launched just recently and it’s already off to a strong start, with 2.74 million units sold to date. This is the first official figure that Nintendo released for Switch sales, and the console units sold also fueled good game sales. Nintendo made the disclosure in its new earnings report [PDF] for the fiscal year 2016, released on Thursday, April 27. The total Nintendo Switch sales […]

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