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UAE.  JLL, the world’s leading real estate investment and advisory firm, has today published a special report on the middle-income housing segment in the Middle East and North Africa region. The report highlights the social and economic impact of a marked shortfall in the required supply of middle-income housing, suggesting that significant efforts are needed to address the current imbalance. The report clearly outlines that this shortage […]

|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 […]

BAGHDAD — Having sold his car for $4,600, and then some of his wife’s jewelry, and having loaded his smartphone with photographs of his five children, all that was left for Haider Abdella to do was say goodbye. “From yesterday to today, we are crying,” he said. His mother sat next to him on the couch, sobbing. “He’s never left me before, from when he was a […]

|By TAP Staff|  Polish financial software provider ‘Softax’ has developed an innovative white label sales and marketing solution for online banking called ‘LogoBank’ for the retail banking sector. The LogoBank system takes an individual ‘contextual’ approach to drive significantly more effective marketing of a lender’s products and services and radically improve customer satisfaction. Whilst the development of most online banking systems tends to focus on widening the […]

With oil stock balances next year looking softer and costs coming down, the commodity will trade at $55 and $61 per barrel during 2016 and 2017, respectively, said the Bank of America (BofA) Merrill Lynch in a report. “Looking at the near-term, however, we still believe oil prices will rebound into year-end on a combination of factors,” said the report titled “Global Energy Weekly: Oil at an […]

BEIRUT, Lebanon — The Arab kingdoms of the Persian Gulf have some the world’s highest per capita incomes. Their leaders speak passionately about the plight of Syrians, and their state-funded news media cover the Syrian civil war without cease. Yet as millions of Syrian refugees languish elsewhere in the Middle East and many have risked their lives to reach Europe or died along the way, Gulf nations […]

|By Matein Khalid| Hong Kong now trades at 9.6 times earnings and 0.86 book value. Hang Seng valuations were gutted by the protest movements in Central and the Shanghai financial meltdown. The Hang Seng index is down 25% since late May and now trades at six times forward earnings, its post Lehman, post 2014 bottom. Hong Kong trades at its lowest price/book value since the Asian flu […]

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UAE. With a 54% decline in the price of oil prices during the past 12 months the United Arab Emirates (UAE) real estate market is now beginning to feel the effect with property transaction levels falling across Abu Dhabi, Dubai and Sharjah, according to the latest research from international real estate consultancy, Cluttons. Cluttons’ annual 2015 UAE Property Report reveals that the direct correlation between hydrocarbon revenues […]

UAE.  Management in the Gulf need to take more risks and develop staff to think creatively, according to a new global innovation survey designed to help companies stop wasting their best ideas and flushing hundreds of billions of dollars down the drain. Announced in Abu Dhabi today by PA Consulting Group, the report highlights an overwhelming view that leadership of organisations in the UAE, Saudi Arabia and […]

Middle East Memo From the West Bank In the 10th year of a four-year term in the absence of national elections, Mahmoud Abbas, the Palestinian president, has lost the public’s confidence. A poll published on Tuesday showed trust in him falling to 16 percent from 22 percent in March. By JODI RUDOREN September 1, 2015 RAMALLAH, West Bank — Mahmoud Abbas, the aging Palestinian president, may be paving the way […]

INTERNATIONAL. The first Barclays UK Prosperity Map has revealed that booming house prices and returns in equity markets, in addition to higher wages and employment rates have resulted in every UK region becoming more affluent, and has driven a 41% increase in numbers of millionaires since 2010. Longer-term, growth in millionaires is expected to return to more normal levels, with a 9% increase in the UK expected […]

ABU DHABI // Emiratis have shown their philanthropic spirit by pledging to support a campaign to rebuild Yemen. At the weekend, the Emirates Red Crescent launched its Yemen: We Care – or Relief for Yemen – fund-raising appeal to help millions of Yemenis suffering in the conflict. Fahad bin Sultan, deputy secretary general of the ERC, urged the public to help out as aid was desperately needed. […]

TORONTO The chief executive of infidelity website Ashley Madison’s parent company Avid Life Media has left, just over a week after hackers leaked data about millions of its clients in a massive cyber assault. Avid Life said on Friday the departure of Noel Biderman was by “mutual agreement” and its existing senior management team would take over until a new CEO is appointed. On Aug. 18, hackers […]

UAE. The second quarter 2015 real estate report issued by leading local consulting firm ValuStrat – has shown a steady decline in property values since the peak last year. However, the rate of decline is easing and is expected to continue to decelerate over the remainder of the year. The Residential VPI (ValuStrat Price Index), which is a 100 point index that started tracking residential values since […]

|By Matein Khalid| A month ago, I published a column predicting history’s first Made in China global recession. Wall Street finally agreed with me last week after we witnessed the most brutal crash in global equities since October 2008. I have predicated a 20% fall in US equities several times in the last three months and the 1000 point drop in the Dow last week only reinforces […]

WESTERN BANKS QUESTION BEIJING’S STRATEGY   From Arun Srivastava   LONDON: While the western mainstream media has described the present market crash…

INTERNATIONAL. Market price action dictates direction – traditional support levels were broken violently. Yesterday’s market was the most energised sell-off since 2008/2009. – The US dollar lead this crisis and will lead back up when the low is in – We have reached most of Steen Jakobsen’s technical targets and below is his primitive “expected” path from here (2015 low getting established) – We will see recession […]

INTERNATIONAL. OPEC next gathers December 4 in Vienna, just over a year since Saudi Oil Minister Ali Al-Naimi announced at the previous OPEC winter meeting the Saudi decision to let the oil market determine oil prices rather than to continue Saudi Arabia’s role of guarantor of $100+/bbl oil. Despite the intense financial and economic pain this decision has inflicted on Saudi Arabia, its fellow OPEC members, and […]

A photo illustration shows the Ashley Madison app displayed on a smartphone in Toronto, August 20, 2015. Reuters/Mark Blinch Infidelity website Ashley Madison and its parent company have been sued in federal court in California by a man who claims that the companies failed to adequately protect clients’ personal and financial information from theft, saying he suffered emotional distress. The lawsuit, filed in U.S. District Court in […]

UAE. The continuation of low energy prices is impacting both optimism and risk appetite in the Middle East, according to Deloitte’s latest report “Global CFO Signals: CFO Sentiment Q2 2015 – Staying focused; remaining vigilant”. With oil at US$53 a barrel at the time of the survey, CFO optimism fell to one of its lowest levels in recent years, with only a net 26% across the Middle East […]

UAE. Business confidence in the Middle East continued to fall in the second quarter of 2015, but not as quickly as it had in the first three months of the year, according to the to the Global Economic Conditions Survey (GECS) organised by ACCA (the Association of Chartered Certified Accountants and IMA (the Institute of Management Accountants). The slight optimism was due to a temporary reprieve in […]

KIBBUTZ SUFA, Israel — Looking out across the perimeter fence of this small rural community in southern Israel, along the border with Gaza, Eyal Shalev, 23, sees a battlefield. Last summer, during Israel’s 50-day war with Hamas in Gaza, Mr. Shalev was on the other side, in a tank. His younger brother, Sgt. Shachar Shalev, who was fighting with the Paratroopers Brigade inside Gaza, was critically injured […]

GAZA CITY — At this time last year, as the missiles and bombs rained down in Israel’s lopsided seven-week war against Gaza, I wrote about our struggle to survive during the holy month of Ramadan. This year, another Ramadan has passed, Eid al-Fitr is over and the reality on the ground has changed very little. The same dreadful conditions are creating desperation among Gaza’s inhabitants, whose lives […]

|By Matein Khalid| Geopolitics is now another source of risk for the Turkish lira, government debt and Istanbul equities. The Turkish air force is bombing Daish in Syria and the secessionist Kurdish PKK party in northern Iraq. Suicide bombings have killed Turkish citizens in eastern Anatolian cities on the Syrian border. Ankara has given the US a green light to launch military airstrikes from the Incerlik air […]

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