|By TAP Staff| The Board of Directors of Emaar Properties has approved a Special Cash Dividend of AED 9 billion (US$ 2.45 billion) to be distributed to the company’s shareholders taking the total value of dividends distributed this year to over AED 17.12 billion (US$ 4.66 billion) – one of the largest announced by any listed company in the UAE. The total value of the dividends is […]
AirAsia is in talks to relaunch flights to the United Arab Emirates from its hubs in Southeast Asia, and has this time chosen Dubai rather than Abu Dhabi for its Western expansion. The low-cost airline’s founder Tony Fernandes was in Dubai Wednesday to talk to officials about flying Airbus Group NV A330 jets into one of the emirate’s two airports, Dubai International or Al Maktoum International. AirAsia […]
While Microsoft has had retail stores across the U.S. for many years now, it has not had a prestigious address that could compete with rival Apple’s store on New York’s Fifth Avenue. That will soon change. Microsoft said Monday it had signed a lease to open a flagship store at 677 Fifth Avenue. That will put it just blocks away from Apple’s famed location beneath the giant, […]
DubaiDino at the Dubai Mall – EMG’s flagship property in the emirate. Associated Press Retail giant Emaar Malls Group priced its $1.58 billion initial public offering–the biggest in Dubai in seven years–at the top of the range amid strong demand for its stock. Morgan Stanley is a joint global coordinator for the offering and also one of the joint bookrunners. Patrick Delivanis, its head of investment banking […]
BlackBerry Ltd Chief Executive Officer John Chen said he wants to return to the consumer market someday, though it’s too soon right now. The smartphone maker is focusing on business users, Chen told reporters yesterday at BlackBerry headquarters in Waterloo, Ontario. Already, the new Passport device for professionals has surpassed his expectations, selling 200,000 units since it was unveiled two days ago, according to Chen. “Over time […]
FTTH Council to host 6th annual conference DUBAI, 3 hours, 27 minutes ago Fibre to the Home (FTTH) Council Mena, has announced the launch of its sixth annual conference in the UAE under the theme of ‘FTTH – The Rise of Smart Nation’.According to a 2013 study conducted by the council, UAE has the highest penetration rate in the world of fibre to the home connectivity for […]
|By TAP Staff| Emaar Properties said it’s seeking to raise as much as $1.58 billion from the initial public offering of its malls unit in the UAE’s biggest IPO since 2007. Emaar Malls Group PJSC plans to sell 2 billion of its founders’ shares, or about 15 percent of its equity, in a price range of 2.5 dirhams to 2.9 dirhams apiece, according to a company statement […]
The supercharged, twin-turbo Mercedes-AMG GT is the brand’s new flagship sports coupe. When it’s released next year, it will be available in 2 trims options, both boasting a 4-liter, 456-horse V8 pushing top speeds pretty near 200MPH. This entry passed through the Full-Text RSS service – if this is your content and you’re reading it on someone else’s site, please read the FAQ at fivefilters.org/content-only/faq.php#publishers. -Werd
Apple Inc. (AAPL)’s prospects seem a lot brighter than they were the last time Tim Cook introduced an iPhone. When Chief Executive Officer Cook unveiled two new smartphone models 12 months ago, Apple’s stock was slumping and the company was losing market share to Samsung Electronics Co. and low-cost manufacturers such as Xiaomi Corp. Questions abounded about whether Apple could keep innovating without co-founder Steve Jobs. Fast […]
RAK Ceramics For RAK Ceramics, the world’s biggest manufacturer of tiles, 2014 may become one of the most transformative periods in the company’s 23-year history. Investment firm Samena Capital this year bought a 31% stake in the company that in the past two decades has become the flagship business of Ras al Khaimah, the most northern of the seven emirates that make up the United Arab Emirates, […]
By Christina Farr SAN FRANCISCO Sat Sep 6, 2014 6:41pm IST The leaf on the Apple symbol is tinted green at the Apple flagship store on 5th Ave in New York April 22, 2014. Credit: Reuters/Brendan McDermid/Files SAN FRANCISCO (Reuters) – Apple Inc has invited top fashion editors and bloggers in unprecedented numbers to its Tuesday launch gala, further evidence that the iPhone maker is preparing to […]
A logo of Emaar is seen near the Dubai Mall Reuters Emaar Properties plans to float at least 15% of its profitable and fast-growing malls business in a September IPO. The chances are high though that Dubai’s flagship developer may sell an even bigger stake. It all depends on getting the right valuation for Emaar Malls Group. After all, Emaar will be cutting its own stake in […]
DP World Jebel Ali, UAE. DP World After posting a decent set of numbers in the first half, a company can be excused if it sounds optimistic about its growth outlook. In DP World’s case – the numbers are more than decent. The Dubai-based ports operator, one of the largest globally, reported a solid 26% jump in six-month earnings as it added new capacity amid a pick […]
Dubai’s next big one is the Apple store. Neil Churchill of EDGAR has the story. US-based tech giant Apple will open its biggest store in the world at Dubai’s Mall of the Emirates, EDGAR can exclusively reveal. After regional media picked up on UAE-based job advertisements by the Californian company, we have insider knowledge that the Majid Al Futtaim owned mall will become home to Apple’s first flagship in the Middle East. Our […]
NEW DELHI: The government will bring a Bill, amending the Central Electricity Act, in winter session of Parliament to improve the tariff policy and regulations in the power sector. The power ministry is working out different tariff structure for different times of the day for easy availability of power for maximum hours in electricity deficit areas. It will soon consult states over the issue as the tariff matter comes under the states’ domain.
Besides, the government has decided to promote domestic power companies to help increase solar power generation in the country. Announcing these decisions in Rajya Sabha, power minister Piyush Goyal said the government will allow only 100% indigenous domestic companies to participate in the
MUMBAI: The Adani Group and Indian Oil Corporation are in talks to build a Rs 30,000-crore joint venture refinery at Mundra, which would give Gautam Adani an entry into the oil sector while the state-run company would get land port facilities for the proposed export-focused unit.
The proposed 30-million-tonne refinery at Mundra will make Prime Minister Narendra Modi’s native state, Gujarat, a bigger energy hub. It already has refineries of Reliance Industries, Essar Oil and Indian Oil, apart from two LNG terminals and the country’s biggest city-gas distribution network.
Industry sources said Gautam Adani has held initial talks with top executives at IOC and offered around 3,500-4,000 acres of land for th
by Christopher Morris Apple’s next generation flagship smartphone should hit the stores in early October After months of speculation, rumor and leaks, it finally seems that the iPhone 6 may be about to be unveiled. The Wall Street Journal is reporting today that Apple will unveil its next-generation smartphone at a special event on September 9. Apple follows typical strategy Although Apple Inc. (NASDAQ:AAPL) is currently declining […]
NEW DELHI: Power plants in India are not importing coal despite global prices of the fuel slumping to decade-low levels. Power generating companies are rather operating at lower capacity on domestic coal that is short in supply, as distribution companies (discoms) are not willing to pay for costly power fuelled by imports.
A Mumbai-based trader, who did not wish to be identified, said global prices had fallen to a 10-year low due to weak demand from China that is reducing dependence on imports by encouraging production from own mines.
He said prices of 4,200 kcal/kg thermal coal in international markets were hovering around $36.50 per million tonne as against $52 per million tonne two years ago.
Following the U.A.E. Central Bank’s regulation to limit GRE exposure, Emirates NBD pledged to trim this. But its latest financial statement shows that lending to sovereign entities has only increased. As Dubai’s flagship bank, Emirates NBD’s lending is inevitably concentrated accordingly around the emirate’s government and its various entities. In times of crisis, as ENBD learned the hard way in previous years, that sizeable single-party exposure can […]
As Dubai’s flagship bank, Emirates NBD’s lending is inevitably concentrated accordingly around the emirate’s government and its various entities. In times of crisis, as ENBD learned the hard way in previous years, that sizeable single-party exposure can have devastating consequences. Emirates NBD’s exposure to debt-laden Dubai has risen in recent years. Reuters ENBD had some bitter pills to swallow in the aftermath of the global financial crisis […]
Egypt’s election commission has extended the presidential poll by one day in an effort to increase voter turnout in an election that is widely expected to bring former army chief Abdel-Fattah el-Sissi to power. The two-day vote was expected to end Tuesday, but polling Monday was reported to be moderate in a country with 54 million registers voters. The extension is widely seen as an effort to boost […]
Egyptians were urged to vote on Tuesday, the second and final day of the presidential election, amid signs of a lower-than-expected turnout on Monday. Election monitoring groups said the turnout on the first day of the vote was moderate and often thin or non-existent in towns and areas where Islamists dominate. Victory for former military chief Abdel-Fattah el-Sissi, 59, is a foregone conclusion. However, el-Sissi and his supporters have been […]
Dubai will not have any issues in repaying all its debt maturing in 2015, and more state-linked firms are likely to repay obligations ahead of schedule, a top government official said on Tuesday. “We will have no issues in repaying debt coming up next year,” said Sheikh Ahmed bin Saeed al-Maktoum, a close advisor and uncle to Dubai’s ruler. Sheikh Ahmed, a key figure in the emirate’s […]
Gold ticked higher on Tuesday to within a whisker of the $1,300-an-ounce level, regaining ground from overnight losses as weaker equities increased its safe-haven appeal. * Spot gold rose 0.2 percent to $1,298.11 an ounce by 0026 GMT. It fell 0.5 percent in the previous session as a short-covering rally after U.S. jobs data fizzed out. * Holdings of the world’s largest platinum-backed exchange-traded fund, Johannesburg’s NewPlat […]
