The Twitter logo is shown at its corporate headquarters in San Francisco, California April 28, 2015. Twitter Inc. cut its full-year revenue forecast due to weak demand for its direct response products, sending its shares down as much as 24 percent on Tuesday.Twitter said it… Reuters/Robert Galbraith SAN FRANCISCO Twitter Inc rolled out its much-anticipated “Project Lightning” on Tuesday, a feature that shows users the site’s best […]
An Apple logo hangs above the entrance to the Apple store on 5th Avenue in the Manhattan borough of New York City, July 21, 2015. Reuters/Mike Segar/Files NEW YORK Apple Inc’s antitrust compliance program has improved, but the company continues to impede a court-appointed monitor overseeing the program, acting as “its own worst enemy,” the monitor told a federal judge in a report made public on Tuesday. […]
SAUDI ARABIA. JLL, the world’s leading real estate investment and advisory firm, today released its third quarter (Q3 2015) Riyadh and Jeddah Real Estate Market Overview reports that asses the latest trends in the office, residential, retail and hotel sectors. Mr Jamil Ghaznawi, National Director and Country Head of JLL KSA, commented: “The Riyadh real estate market has maintained a steady performance this quarter. The office sector […]
|By TAP Staff| Mediclinic International Ltd. is in talks with United Arab Emirates health-care provider Al Noor Hospitals Group Plc about a tie-up that would create the biggest supplier of private care in Dubai and Abu Dhabi with further operations in Europe and Southern Africa. The potential deal between the two hospital owners would involve the issue of new Al Noor shares to Stellenbosch, South Africa-based Mediclinic […]
TEHRAN — As the music ended and the crowd rose in a standing ovation, several women in the audience could be seen with heads bared, the obligatory head scarves draped around their necks. This was no underground concert by an indie band in North Tehran, though. Rather, it was a recital by a classical lute player in Vahdat Hall. As the opera house emptied, the women casually […]
SAUDI ARABIA. Saudi Arabia is leveraging low oil prices to accelerate development of its downstream petrochemical derivatives sector, and will add over 30 million tonnes of production capacity by 2020, raising production to 126 million tonnes from 2014 levels of 94.6 million tonnes, the latest edition of The Oil & Gas Year (TOGY) revealed. Capital expenditure in the petrochemical sector as well is set to further […]
UAE. In times of economic uncertainty, cold-hearted international investors seek more diversification of their property portfolios; as London provides opportunity for property capital appreciation with prices continuously on the rise in the last five years, reasonable prices and growing yields in Dubai market make an equally attractive income generating opportunity. Mutual InterestFor Middle Eastern investors, London has always been regarded as a strong investment complementary to their […]
Saudi Arabia is expected to cut the prices of crude it sells to Asia in November after the Dubai benchmark weakened last month, in a move that will help the OPEC kingpin retain its market share in the region amid a global oversupply, traders said. Prices, however, are likely to be lowered less than what is indicated by a formula, given the top oil exporter tempered gains […]
MOSCOW — Russia widened its bombings in Syria on Friday, striking Islamic State territory for the first time, but showed no hint of heeding Western demands to avoid attacks on fighters pushing to oust Syria’s weakened, Kremlin-backed president. The Defense Ministry said its warplanes had bombed seven targets in overnight raids including a command post and training camp near Raqqa, the northeast Syrian city that the Islamic […]
Middle East Members of the Iraqi security forces outside the Turkish embassy in Baghdad. “Our 16 workers have just been received by our Baghdad ambassador,” Prime Minister Ahmet Davutoglu of Turkey said on Twitter. By CEYLAN YEGINSU September 30, 2015 ISTANBUL — Sixteen Turkish construction workers abducted four weeks ago by a Shiite militia in Iraq were released on Wednesday, Prime Minister Ahmet Davutoglu of Turkey said in a statement […]
The Twitter logo is shown at its corporate headquarters in San Francisco, California April 28, 2015. Reuters/Robert Galbraith REUTERS – Twitter Inc said on Wednesday it was partnering with U.S. retailers to help them sell products through a “Buy Now” button in tweets, the latest move by the company to boost flagging user growth. The “Buy Now” feature, which was initially rolled out to a small percentage […]
UAE The next six months may prove a pivotal turning point in the recovery of global commodities markets according to Ole Sloth Hansen, Head of Commodity Strategy at Saxo Bank, the online trading and multi-asset investment specialist. Following nine months of geo-political incidents in Europe and the Middle East, and widespread uncertainty catalysed by major economic crises in Greece, Russia and China, Hansen is optimistic the next […]
A Microsoft logo is seen on an office building in New York City, July 28, 2015. The global launch of the Microsoft Windows 10 operating system will take place on July 29. Reuters/Mike Segar Microsoft Corp (MSFT.O) joined Amazon.com Inc (AMZN.O) and Intel Corp (INTC.O) in tweaking the way it reports results, a move that will help the software giant show off its growing cloud and mobile […]
|By Matein Khalid| Even as China’s President meets the capo di tutti capi in Seattle, its manufacturing PMI falls to 47, a post Lehman low, with new export orders in a slump. I found it significant that the offshore yuan fell 200 pips to 6.4346 after the PMI. This proves my core argument, outlined a month ago. The Middle Kingdom will respond to its economic decline and […]
INTERNATIONAL. The low level of insurance penetration seen in many Middle East and North Africa (MENA) countries, combined with the robust, albeit deteriorating, profitability achieved by the leading primary insurers, has made the region a target for international and domestic reinsurers. A new special report by A.M. Best examines how insurance markets in the MENA region have grown significantly over the past decade. MENA insurance premiums surpassed […]
A logo is pictured at Google’s European Engineering Center in Zurich April16, 2015. Reuters/Arnd Wiegmann/Files WASHINGTON The U.S. Federal Trade Commission has opened a preliminary investigation into whether Google Inc (GOOGL.O) uses its Android operating system to dominate competitors as more consumers go mobile, two sources familiar with the matter said on Friday. The Android mobile platform is a key element in Google’s strategy to maintain revenue […]
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 […]
|By Ole Hansen| Global markets went quiet ahead of the long awaited Federal Open Market Committee meeting this past week as the first rate hike in almost ten years seemed possible. In the end Janet Yellen and her follow central bankers opted for no change and the statement following the announcement was surprisingly dovish. While US activity and employment data remains strong the extreme market volatility in late […]
|By TAP Staff| Al Noor Hospitals Group of Abu Dhabi announces that it has reached an agreement to acquire Rochester Wellness. Founded in 2006, Rochester Wellness is a leading provider of long-term physical, speech, and occupational rehabilitation therapy caring for patients in their homes and through two inpatient facilities in Dubai and Muscat. The business operates 51 beds and generated revenue of $ 5.6 million during the […]
QATAR. On Sept. 18, 2015, Standard & Poor’s Ratings Services affirmed its ‘AA’ long-term and ‘A-1+’ short-term foreign and local currency sovereign credit ratings on the State of Qatar. The outlook is stable. We also affirmed the ‘AA’ long-term issue ratings on the bonds issued by Qatari Diar Finance Q.S.C. and SoQ Sukuk A Q.S.C. RATIONALE Qatar is a wealthy economy; we estimate its GDP per capita […]
EDIRNE, Turkey — Doaa, a 25-year old Syrian, was lying in the shade one day last week, trying to shelter herself from the scorching sun in a makeshift camp near this northwestern border city. A pile of blankets next to her quivered, and a tiny hand emerged. Her son, Nassim, was just a week old. Doaa had walked out of a hospital in Istanbul a few days […]
JAYALALITHAA’S PROBE DEMAND PUTS HER AHEAD OF RIVALS S Sethuraman Within minutes of UN Human Rights Panel’s indictment at Geneva…
Autodesk, a leader in 3D design and engineering software, said that new commercial licences of most Autodesk Design and Creation Suites and individual products will be available by subscription only from July 31 next year. When this takes effect, the company will provide new, simplified subscription options so customers can access multiple products and share licences as they currently do — while gaining the simplicity, accessibility, and […]
