China’s largest property developer Dalian Wanda Group has set its sights on banks in Europe, including Germany’s Postbank, as it diversifies away from its core real estate business. The Beijing-based group led by China’s richest man is actively looking at several European financial institutions, three people familiar with the matter said. Postbank — which has been put up for sale by Deutsche Bank — was among the […]
Dubai, 12 February 2017 Emirates NBD (DFM: EmiratesNBD), a leading bank group in the region, held its tenth Annual General Meeting (AGM) at the Bank’s Headquarters. At the AGM, a review of the year ended 31st December 2016 was presented. Commenting on the business environment, Emirates NBD Chairman, His Highness Sheikh Ahmed Bin Saeed Al Maktoum, said, “The UAE continues to stand out as a resilient and […]
By David Alire Garcia | MEXICO CITY MEXICO CITY Thousands of protesters in more than a dozen Mexican cities took to the streets on Sunday to express their fierce opposition to U.S. President Donald Trump, portraying the new leader as a menace to both America and Mexico. Waving Mexicans flags and hoisting anti-Trump signs in both Spanish and English, some vulgar, many protesters also heaped scorn on […]
The UK is set to import its first ever cargo of liquefied natural gas from Peru as a pricing dispute forces shipments to Europe, with growing supplies of the supercooled fuel carving out new export routes. Peru LNG loaded a vessel this week that has its destination listed as the UK, according to data on Lima-based Perupetro’s website. It is carrying about 61,146 metric tonnes of LNG. […]
Dubai-UAE: 12 February, 2017 Governments can counter extremism, a willful deviation from general norms of conduct, through a series of steps according to Arie Kruglanski, distinguished professor of psychology at the University of Maryland. His comments came during a fullhouse breakout session entitled ‘Inside the Most Dangerous Minds: Insights for Government’ on Day One of the World Government Summit (WGS) 2017 in Dubai. Kruglanski said: “As the […]
A period of consumer spending, retail sales and housing weakness may be imminent, after federal tax refunds tumbled by 78% in the early part of February compared to 2016, the result of a new law which requires the IRS to delay the printing of checks to households claiming specific tax credits. The reason for the slowdown is that in late 2015 Congress passed a law forcing the […]
Credit: Salk Institute Although we spend a lot of our time online nowadays—streaming music and video, checking email and social media, or obsessively reading the news—few of us know about the mathematical algorithms that manage how our content is delivered. But deciding how to route information fairly and efficiently through a distributed system with no central authority was a priority for the Internet’s founders. Now, a Salk […]
Egypt, 12 February 2017 Flight diversions due to inflight medical emergencies make up a tiny portion of the millions of flights operated annually, but it is costly for airlines. With more people traveling by air, the actual number of inflight medical events has been gradually increasing over the years. Emirates, the largest airline by international traffic, operates over 3,500 departures a week, or more than 194,000 flights […]
It is time to disabuse our minds of the old notion that West Nile virus (WNV) epidemics spread in “most ideal temperatures of transmission”. A new study suggests otherwise — West Nile virus transmission is higher during drought. The study, published in Proceedings of the Royal Society B on Feb. 8, found out that drought is the key driver in the increased intensity of the WNV epidemics in the […]
|By Arabian Post Staff| As much as 69 percent of oil demand growth up to 2022 will be in Emerging Asia, according to a report by Bank of America Merrill Lynch. Other key conclusions of the report include advancement of the oil demand peak from 2050 to 2035 due to fast growth in electrical vehicles, increased carpooling/sharing and autonomous driving; increase in consumption by 1.1mn b/d p.a. […]
DUBAI Compliance with a global supply cut deal by OPEC and non-OPEC oil producers has been high in January and that level of commitment is expected to improve over the next months, the United Arab Emirates Energy Minister said on Sunday. “The first month I see the commitment around OPEC has been there from the various independent sources. The level of commitment is high and we are […]
12 February 2017 Dubai, United Arab Emirates – Marsh & McLennan Companies Inc. (NYSE: MMC), a global professional services firm offering clients advice and solutions in risk, strategy and people, is a strategic partner of the newly published 2017 Global Risks Report, an annual publication released by the World Economic Forum at Davos. This year’s 2017 Global Risks Report reveals that economic inequality, societal polarisation and intensifying […]
Opec countries drastically curbed their output in the first month of their new production agreement, in the clearest sign to date that the world’s biggest oil producers are committed to living up to the November pact to cut global supplies. The limits adopted by the oil cartel in January have been “one of the deepest in the history of Opec output cut initiatives”, the International Energy Agency […]
A day before Elon Musk, co-founder and CEO of Tesla, officially announces his company’s foray into the Middle East, social media is abuzz with the possible location for the American carmaker’s first showroom in the UAE. A billboard has sprung up on Khalifa Juma Al Nabooda’s building on Sheikh Zayed Road in Dubai – which earlier housed Porsche cars – indicating the showroom opening in “summer 2017”. […]
TOKYO Japanese conglomerate Toshiba Corp probably suffered a group net loss of about 400 billion yen ($3.52 billion) in the nine months through December, the Nikkei reported on Sunday. The loss is largely due to a goodwill impairment of around 600 billion yen on a U.S. nuclear unit that came to light in late 2016. During the year-earlier period, Toshiba lost a similarly significant 479.4 billion yen. […]
The European government bond market had what is known in technical circles as a minor freak-out this week. Yet as yields in eurozone bonds diverged sharply, the markets for stocks, corporate debt and currencies carried on regardless. The Cac 40 index of large French-listed companies was barely changed on the week. The euro weakened per cent against the US dollar, but at the same time the dollar […]
US plane maker Boeing on Tuesday announced that Etihad Airways has signed a four-year contract to introduce the Boeing Wind Updates solution into its operations. The optimisation tool from Boeing will increase efficiency and reduce fuel consumption across the airline’s global operations. It added that more current and accurate weather data allows for more effective use of modern aircraft capabilities and is expected to reduce fuel consumption […]
Feb 10, 2017 11:23 am IST Indian Institutes of Technology were ranked fourth for educating students who went on to create billion-dollars startups, a report by Sage, a U.K-based accounting software firm said this week. Stanford University was the source of the largest number of unicorn founders, followed by Harvard University and the University of California. So what is the secret at the IITs? An impossibly competitive […]
The numbers attached to Jean-Michel Jarre’s decades-long electronic music career are almost too large to comprehend. The Frenchman – whose works include the wildly successful albums Oxygene (1976) and Equinoxe (1978) – has sold more than 80 million records since the release of his first solo album, Deserted Palaces, in 1972. His live performances are the stuff of legend – and world records. He was responsible for […]
BEIJING Six officials in central China’s Hubei province have been punished for dozing off in a meeting on how to motivate lazy bureaucrats, state media and the local government said. Pictures of the sleeping officials have received widespread coverage in Chinese media over the past two days, amid President Xi Jinping’s sweeping crackdown on corruption, extravagance and dereliction of duty. The Communist Party discipline bureau in Hubei’s […]
Gulf countries are forecast to drive the bulk of 2017 sovereign debt issuance, followed by Latin America, according to Bank of America Merrill Lynch. Its latest GEMs Macro Monthly report said it expects Saudi Arabia, Argentina, Qatar and Kuwait to be the largest gross and net debt issuers in 2017. It said these four issuers could account for 37 percent of the total sovereign gross issuance. Among […]
In a centrally planned economy decisions on what to produce, how to produce and for whom are taken primarily by the government. The term is usually associated with communist economies. However, since US President Franklin D. Roosevelt implemented a robust range of government policies in the 1930s to counter the effects of the Great Depression, using principles that would be popularized by UK economist John Maynard Keynes, […]
Qatar Petroleum is the hidden giant of the global energy industry, overshadowed by its neighbor Saudi Aramco. Yet, the country’s colossal natural gas resources allow the state-run company to pump more oil and gas than Rosneft PJSC or Exxon Mobil Corp. After almost two decades of breakneck growth, the company needs to change tack. QP plans to expand abroad as domestic crude output declines and the government […]
MOSCOW Russia will decided in April or May whether an agreement on global oil output cuts between OPEC and non-OPEC producers, set to end on June 31, should be extended, TASS news agency quoted Russian Energy Minister Alexander Novak as saying on Saturday. Novak also said that he planned to meet his Saudi Arabia counterpart Khalid al-Falih during the CERAWeek energy conference in Houston in March. (Reporting […]
