BERLIN Germany will need a new economic strategy geared toward Asia should the new U.S. administration start a trade war with China, Vice Chancellor Sigmar Gabriel said on Friday, warning against protectionism hours after President Donald Trump was sworn in. “I think we have to prepare for a rough ride,” Gabriel said in an interview with the public broadcaster ZDF, in the first official German reaction to […]
Brexit’s impact on the UK economy weighed on sterling traders at the end of another turbulent week for the devalued currency following the publication of disappointing retail sales, sending the pound sharply lower. December’s seasonally adjusted sales, minus fuel, were 2 per cent lower than in November, the worst monthly decline in more than five years. The pound had begun the day higher, but the data reversed […]
Dubai, UAE, 20 January 2017 Dubai Electricity and Water Authority (DEWA) has issued on 15 January 2017 a Request for Proposal (RFP) to all qualified bidders for a 200MW Concentrated Solar Power (CSP) Power Plant, the fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park. This supports the wise vision of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the […]
The United Launch Alliance (ULA) is geared up for its maiden mission of 2017 with the launch of the Atlas V rocket from Cape Canaveral, Florida. Initially, it was scheduled to be launched on Thursday, Jan. 19, but it has now been reported that the launch will take place on Friday, Jan. 20, instead. The ULA was established in 2006 and is a joint venture of Lockheed Martin […]
Kabir Mulchandani is a hands-on developer. While he may not be laying bricks, the SKAI Holdings CEO forwent his air-conditioned office in Downtown Dubai for an often stinking hot construction site on the Palm Jumeirah for the two years that it took for his flagship $1.2 billion hotel to be built. It was only in November that he finally walked offsite when the Viceroy Dubai Palm Jumeirah […]
Thirty people still missing at Italian hotel buried by massive avalanche | Reuters ‘+Reuters.inlinevideo.title+’ ‘+Reuters.inlinevideo.length+’ ‘); } PENNE, Italy Rescuers dug all night in deep snow and debris in search of some 30 missing people who were staying in a luxury mountain hotel in Italy when an avalanche struck almost two days ago. Officials have confirmed finding two bodies, while Italian media said two more were located […]
“Comeback is a good word, man,” noted the actor Mickey Rourke, after portraying a washed-up wrestler led to a career renaissance. Could 2017 be the year when stockpickers can say the same thing? The post-financial crisis environment has been unkind to active investing, especially in equities, with most portfolio managers unable to beat their benchmarks even before costs. That has accelerated the seismic investor shift towards cheap, […]
20 January 2017 Abu Dhabi, UNITED ARAB EMIRATES – Etihad Airways today announced four additional weekly flights on the popular Abu Dhabi – Malé route, increasing frequency to the idyllic Maldives to 11 services a week between 1 July and 17 September 2017. The capacity increase will cater to high demand during the peak summer season. The announcement comes as the Abu Dhabi-based airline completed five years […]
Bernie Dunn may have retired from the US Army but he remains on a mission in the Middle East. The Boeing regional president hit a bullseye on December 11 when his team secured an $8 billion deal with Iran Air in the airline’s first plane contract since 1979. The world’s largest aerospace manufacturer beat out its French rival, Airbus, by 11 days. Though Airbus then secured 20 […]
HTC Vive has launched a $10 million program to support virtual reality developers working on projects that drive awareness and understanding of global issues such as famine, poverty, gender disparity, and climate change. VR technology has drawn a lot of attention, particularly in the last few years, for its ability to stimulate our senses, transport us to an alternate reality, and ultimately entertain us. But beyond the […]
The new UAE fire and life safety code is expected to be released on January 22 – but it will not be retrospective. Considering that upgrading the code was made more urgent by the alarming string of fires in existing residential buildings and the realisation that more than 1,000 buildings in the UAE still have a form of external cladding that is at high risk of rapidly […]
By Kevin Yao and Elias Glenn | BEIJING BEIJING China’s economy grew a faster-than-expected 6.8 percent in the fourth quarter, boosted by higher government spending and record bank lending, giving it a solid tailwind heading into what is expected to be a turbulent 2017. But Beijing’s decision to raise spending to meet its official growth target could exact a high price, as policymakers grapple with financial risks […]
Sheikh Abdullah bin Zayed, Minister of Foreign Affairs and International Co-operation, met a delegation from the US Harvard University on Thursday. Wam The delegation, which includes professors and students, is currently visiting the country to get acquainted with the practices and experiences of the UAE government in several areas. Wam During the meeting, the delegates were briefed on a number of topics and issues of common interest, […]
Donald Trump vowed to make America “greater than ever before” as he stood framed by Washington’s Lincoln Memorial and addressed a crowd of supporters on the eve of his inauguration as the 45th president of the United States. “It’s a movement like we’ve never seen anywhere in the world,” the former property developer and reality television star declared before fireworks lit up the sky above the National Mall […]
19 January 2017 Leading global publisher The Business Year (TBY) recently met with HE Essam Abdul Mohsen Al-Marzouq, the newly appointed Minister of Oil and the Minister of Electricity and Water of Kuwait. The Minister spoke extensively about privatization plans in the electricity sector and elaborated on his intentions to move the Ministry of Electricity and Water away from being a producer in order to become more […]
BEIJING China asked foreign diplomats in Beijing to help “weave a cooperative network against corruption,” state media reported on Friday, as Beijing seeks greater international cooperation in Chinese President Xi Jinping’s four-year war on graft. Xi has vowed to fight deep-rooted graft at all levels of the ruling Communist Party until officials “dare not, cannot and don’t want to” be corrupt, warning that a failure to deal […]
Singaporean telecommunications provider StarHub has revealed that it attained speeds of 35.15Gbps during a trial of 5G network technology with Chinese technology giant Huawei earlier this month. The field trial was conducted using 2GHz at the e-band — which sits between the 60GHz and 90GHz frequencies — using three layers of e-band, as well as 64 Quadrature Amplitude Modulation (QAM). “To future proof our network, we have […]
An extraordinary moment has arrived in the evolution of the internet. For all the transformation that has occurred over the 20+ years since the arrival of the World Wide Web and for the billions of people whose economic, civic and social circumstances have been improved, most people remain without internet connections. Residing in every country, these unconnected billions still wait for affordable meaningful access to this essential […]
Investor optimism faded in the week preceding the inauguration of Donald Trump as US president, with equity funds suffering their largest outflows since the surprise result of November’s election. Close to $2.5bn fled US equity funds in the week ending Wednesday, according to data from EPFR Global, extending outflows of $250m from the prior week and demonstrating that the investor demand that drove more than $60bn of […]
PALO ALTO, Calif. With monetary policy still modestly accommodative, the U.S. central bank should continue to raise interest rates slowly to keep jobs plentiful and inflation low, Federal Reserve Chair Janet Yellen said on Thursday. “I think that allowing the economy to run markedly and persistently “hot” would be risky and unwise,” Yellen said in remarks prepared for delivery to the Stanford Institute for Economic Policy Research. […]
Western Union agreed on Thursday to forfeit $586m after admitting that it violated US anti-money laundering laws by ignoring evidence that thousands of its agents were involved in sending illicit cash to criminals, including human traffickers in China and bookies in Costa Rica, the US Department of Justice announced. From 2004 to 2012, Western Union, a global money services business based in Englewood, Colorado, “processed hundreds of […]
19th January 2017 Profile Software, an international financial solutions provider, today announced its sponsorship of the Middle East Wealth Management Forum organized by Hubbis, taking place on the 24th of January at the Ritz Carlton, DIFC in Dubai, UAE. Profile’s executives will demonstrate the client centric and innovative platforms that address the Wealth Management industry’s requirements. Profile supports thought provoking industry leading events for the Wealth Management […]
Lawmakers, government officials, and aid workers are bracing themselves for a broad offensive from President-elect Donald Trump against federal programs that support family planning and gender equality around the world. As one of his first acts in the Oval Office, the Republican president-elect plans to restore the “Mexico City policy” as soon as Sunday, a congressional staffer told Foreign Policy. Also known as the “global gag rule,” […]
Oman Air is more than double its contribution to the country’s gross domestic product this year to OR900 million ($2.3 billion) as it seeks to continue expansion of its fleet and network. The national carrier will tell its staff at its global conference in Muscat on Thursday that it increased its GDP contribution in 2016 by 6 percent to OR415 million. The increase came in the context […]
