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INTERNATIONAL. EY announces the launch of its Commercial Analytics Services Hub (EY CASH). This cloud-based analytics platform helps consumer products and retail (CPR) companies accelerate growth by predicting consumer choice to inform key decisions. EY CASH combines the professional services organization’s sector experience with the flexibility, scalability and enhanced security of the Microsoft Azure cloud and Cortana Intelligence. With 73% of CPR companies finding profitable growth far […]

WASHINGTON — A cash payment of $400 million delivered to Iran in January became part of the presidential campaign on Wednesday, as Donald J. Trump seized on the money transfer as a sign of what he called the administration’s failed foreign policy — prompting a forceful White House rejection. Josh Earnest, the White House press secretary, said the payment to Iran was part of the resolution of […]

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 […]

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 […]

DUBAI // Two Russians kidnapped a Ukrainian tourist after offering her a lift home before assaulting her and stealing her passport. The men, aged 30 and 34, were convicted of kidnap, physical assault and robbery by Dubai Criminal Court and jailed for two years each. On January 13 this year one of the men approached the woman in Bur Dubai and asked if she knew any good […]

LIBYA. A multi-million redevelopment of Tripoli International Airport is getting ready for take-off following the Libyan Local Investment & Development Fund’s (LLIDF) appointment of PwC as its strategic advisor. The LLIDF is supporting the redevelopment of Libya through its new Investment Programme which includes the redevelopment of Tripoli International Airport into a world-class international airport. Based within a secure hub on the former airport site, the ambition […]

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 […]

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INTERNATIONAL. Even before the failed military coup, Turkey’s President Erdogan governed like a dictator who had the last word on all state matters. The botched coup was nothing but, as he put it, “a gift from God” to purge what is left of Turkey’s democracy and cleanse the army and judiciary in order to ensure the total subordination of all institutions to his whims. For Erdogan, being […]

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 […]

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 […]

|By Arabian Post Staff|Saudi Arabia will build a maritime complex on its east coast, with shipbuilding capability, to provide sufficient capacity for exporting oil, Bloomberg reported quoting Energy Minister Khalid Al-Falih. The country, the world’s largest oil-producing nation, eventually will have a shipping fleet that will match its oil capabilities, Al-Falih said in Riyadh. Saudi Arabian Oil Co., or Aramco, will need more tankers to meet global […]

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 […]

INTERNATIONAL. The Bloomberg Commodity Index, which tracks the performance of 20 major commodities split evenly between energy, metals and agriculture, continues to show a gain of more than 10% in the year to date. Some softness, however, has crept in during the past few weeks with some sectors, most notably energy, pausing after rallies in oil and natural gas ran out of steam. Industrial metals found support […]

During its Shape Tech Expo in San Francisco this weekend, AT&T plans to demonstrate how it is using drones to inspect its cell towers from the air. The company is also looking at other future applications that could include using unmanned aerial vehicles (UAVs) to provide improved LTE coverage during crowded events or disasters. AT&T has been testing various uses for drones over the past year, and […]

Are there places where Pokémon should not be allowed to tread? The digital creatures, which appear overlaid on the real world as part of the hit smartphone game Pokémon Go, have been reported at the former concentration camp Auschwitz in Poland, the United States Holocaust Memorial Museum in Washington D.C. and the National September 11 Memorial in New York, provoking frustrated responses from the representatives of some […]

Researchers at the University of California, Riverside are bringing their idea for a ‘Window to the Brain’ transparent skull implant closer to reality through the findings of two studies that are forthcoming in the journals Lasers in Surgery and Medicine and Nanomedicine: Nanotechnology, Biology and Medicine. The implant under development, which literally provides a ‘window to the brain,’ will allow doctors to deliver minimally invasive, laser-based treatments […]

JIDDA, Saudi Arabia — For most of his adult life, Ahmed Qassim al-Ghamdi worked among the bearded enforcers of Saudi Arabia. He was a dedicated employee of the Commission for the Promotion of Virtue and the Prevention of Vice — known abroad as the religious police — serving with the front-line troops protecting the Islamic kingdom from Westernization, secularism and anything but the most conservative Islamic practices. […]

The logo of free messaging app Line is pictured on a smartphone and the company’s stuffed toy in this photo illustration taken in Tokyo, Japan, September 23, 2014. Reuters/Toru Hanai/Illustration/File Photo TOKYO Japanese messaging app firm Line Corp priced its initial public offering at the top of its marketed range, putting it on track to raise as much as $1.3 billion and reflecting robust appetite for the […]

Tech giant Google made a bid to expand its cloud services offerings to big media companies yesterday with the announcement that it has acquired Anvato. The company provides a software platform that automates the encoding, editing, publishing, and distribution of video content across multiple platforms. The Mountain View, Calif. startup has already won over some major media companies on its own, including NBC Universal, Fox Sports, and […]

Reuters/Tyrone Siu/File Photo SEOUL South Korea’s LG Electronics Inc (066570.KS) said on Friday its second-quarter operating profit likely reached a two-year high, with analysts pointing to strong contributions from its mainstay home appliances and television set businesses. The world’s second-biggest TV maker by market share, behind compatriot Samsung Electronics Co Ltd (005930.KS), said in a regulatory filing that April-June profit was likely 585 billion won ($504 million), […]

|By Matein Khalid| The merger of Abu Dhabi banks First Gulf Bank and NBAD creates the largest bank in the Middle East, a regional colossus with $170 billion in assets, competitive funding cost in the global interbank/capital markets and a market value greater than Credit Suisse, Standard Chartered Bank (SCB) and Deutsche Bank. This is the biggest game changer event in UAE banking and finance since the […]

BAGHDAD — As celebrations for the Muslim holy month of Ramadan stretched past midnight into Sunday in central Baghdad, where Iraqis had gathered to eat, shop and just be together, a minivan packed with explosives blew up and killed at least 143 people — the third mass slaughter across three countries in less than a week. The attack was the deadliest in Baghdad in years — at […]

SAN FRANCISCO Facebook Inc on Wednesday offered a rare glimpse into how it ranks and shows content in its News Feed, part of an effort to provide more transparency about its operations as the social network’s cultural and political influence continue to grow. The disclosures, though lacking in detail, are notable in part because they come in the wake of a May news report alleging liberal political […]

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