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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 […]

Egypt is still suffering from coordinated Palm Sunday bombings of two Christian churches that killed more than 40 people, nearly killed the head of the Coptic Church and prompted President Abdel Fattah el-Sisi to declare a three-month state of emergency. Continue reading the main story Francis will lend his support to the roughly 250,000 Roman Catholics in Egypt and insist on the protection of minority rights, including […]

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After a strong 2 Year on Tuesday, poor 5 Year on Wednesday we close the week with the Treasury’s sale of $28 billion in 7 Year paper in what can only be described as a spectacular auction. The high yield priced at 2.084%, stopping 2bps through the 2.104%, the biggest gap between the two going back to January 2016. The Bid to Cover was a whopping 2.733, […]

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 Brian Ellsworth | CARACAS CARACAS Protesters blocked a highway in Venezuela’s capital Caracas for nearly eight hours this week in an effort to show the opposition’s dedication to civil disobedience as their main tool to resist President Nicolas Maduro. But by the end of the afternoon, hooded youths had filled the highway with burning debris, looted a government storage site, torched two trucks and stolen medical […]

Thermal image showing thermal runaway of an 18650 cell with an implanted internal short circuiting device. Credit: Donal Finegan (UCL, NASA and NREL) How lithium-ion (Li-ion) batteries behave under short-circuit conditions can now be examined using a new approach developed by a UCL-led team to help improve reliability and safety. The use of high energy density Li-ion batteries is ubiquitous – from powering portable electronics to providing […]

By Andrew Cawthorne and Eyanir Chinea | CARACAS CARACAS Venezuelan security forces fired scores of tear gas volleys and turned water cannons on rock-throwing protesters on a bridge in Caracas on Wednesday as the death toll from this month’s anti-government unrest hit at least 29. A 20-year-old male demonstrator died in those latest clashes in the capital after being hit by a gas cannister, said officials of […]

Netflix saw a flood of demand for a €1.3bn bond sale on Wednesday, as supply-starved junk debt investors put aside concerns around the US streaming service’s substantial cash burn to get a piece of its debut euro deal. The sub investment-grade rated company announced the deal on Monday as a €1bn 10-year bond to help fund its international expansion and planned shift to developing more original content. […]

President Donald Trump’s top economic team unveiled what they called the biggest tax cut in US history, proposing a sharp reduction in corporate taxes and a simplification of individual rates they said would unleash economic growth. Steven Mnuchin, the Treasury secretary, said the proposal would slash corporate taxes from 35 per cent to 15 per cent and include a “one-time” cut-rate tax to induce companies to repatriate […]

26 April 2017 Renowned Intellectual Property expert Munir Suboh has joined Hadef & Partners to head the Intellectual Property practice in the Dubai office, advising on the full suite IP services and providing support across all of Hadef & Partners’ practice areas, including dispute resolution. As an Intellectual Property specialist with over a decade of experience in the region, Munir’s expertise covers all areas of Intellectual Property, […]

PARIS France’s centre-right party, seeking to rebound after the defeat of its presidential candidate, said on Wednesday it could share power with Emmanuel Macron if he is elected, as pollsters predict, on May 7. Macron, a 39-year-old centrist, is tipped to comfortably win a run-off vote against far-right leader Marine Le Pen, but the political movement he created a year ago faces a huge challenge in the […]

Oil prices reversed early losses on reports of the third weekly drawdown of crude stocks in the US, although analysts cautioned on waiting for further signs that Opec’s production cuts are finally tightening the market. Inventories of US crude fell by a larger than expected 3.6m barrels in the week ended April 21, the Energy Information Administration said on Wednesday, compared with expectations for a draw of […]

By Michael Shields | ZURICH ZURICH Swiss voters look set to decide for a second time whether to impose curbs on immigration from the European Union after the cabinet proposed on Wednesday allowing a straight yes-or-no referendum on an issue that still bedevils ties with the EU. In a 2014 referendum, voters narrowly backed upper limits and quotas to reduce immigration from the EU, amid concerns that […]

PepsiCo Inc reported higher-than-expected quarterly revenue and profit as the company benefited from demand for its healthier drinks and snacks and kept a tight leash on costs. The company’s shares, which had risen 9.1 percent this year, were off 1 percent in premarket trading on Wednesday. PepsiCo and other processed-food makers are investing heavily to meet consumers’ increasing preference for healthier snacks such as unsweetened tea and […]

Modest dress is enjoying a renaissance. Fashion brands are increasingly embracing the long-held view shared by those in region that style does not have to equate to revealing a lot of flesh. Building on the foundations of sensuality over sexuality, and demure over décolletage, the West is finally catching up with the Middle East in terms of tasteful dressing. Women in the Middle East have long expressed […]

With little macro data overnight (aside from a modestly disappointing Australian CPI print), offset by an ongoing of corporate profits (this is the single busiest week for corporate earnings in more than 10 years), today everyone’s attention will be focused on three things to come out of Washington: taxes, healthcare, spending. And while we did our best to summarize what is known and unknown last night, this […]

Tencent’s cloud computing unit has launched a data centre in Silicon Valley and will open another four outside its domestic market, as it looks to expand its portfolio to include cloud and artificial intelligence. The Chinese internet giant said the following four facilities in Mumbai, Seoul, Frankfurt, and Moscow would be operational this year, adding to its global network of data centres that currently include Singapore, Toronto, […]

Uber is planning to demonstrate a network of flying cars in Dallas-Fort Worth and Dubai by 2020, as announced by the ride-hailing company at the Uber Elevate summit. Similar to how Uber dispatches drivers and their cars, the company will not be manufacturing the flying cars, which will be vertical take-off and landing, or VTOL, vehicles. Rather, it will lead the formation of the network that will […]

Government incentive programs — such as the investment tax credit (ITC) and California Solar Initiative (CSI — increased the number of commercial solar PV adoptions. Credit: Wang, Yu and Johnson One key goal for renewable energy in the United States is to promote the continued adoption of solar photovoltaic (PV) systems to reduce greenhouse gas emissions and create a clean energy workforce. Federal and state governments are […]

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