|By Arabian Post Staff| Despite external debt remaining at tight spreads due to still-high leverage and refinancing challenges, Dubai will muddle through the current crisis in terms of debt rollovers, Bank of America-Merrill Lynch said in its latest research. Although the investment bank expects the local bid on the shorter end to weaken due to low oil prices, it sees chances of less supply risk for Dubai […]
The Interpreter By AMANDA TAUB It is a truth universally acknowledged by every war correspondent, humanitarian aid worker and Western diplomat: Some wars, like Syria’s, receive tremendous public attention, which can translate into pressure for resolution. But many others, like Yemen’s still raging but much ignored conflict, do not. Some of the reasons are obvious; the scale of Syria’s war is catastrophic and much worse than Yemen’s. […]
By Andrew Chung | NEW YORK NEW YORK A federal jury in Texas on Friday night ordered Apple Inc to pay more than $302 million in damages for using VirnetX Holding Corp’s patented internet security technology without permission in features including its FaceTime video conferencing application. The verdict came in a new trial in Tyler, Texas that had been ordered by the judge in the case, Robert […]
IT services provider Cognizant Technology Solutions Corp (CTSH.O) said it was conducting an internal investigation into possible violations of U.S. anti-corrupt practices laws related to payments in India, sending its shares tumbling on Friday. The company also said President Gordon Coburn had resigned and would be replaced by Rajeev Mehta, the head of IT services. Cognizant, which gave no reason for Coburn’s departure, did not respond to […]
Four States Sue To Stop U.S. from Ceding Internet Control Four states — Arizona, Oklahoma, Nevada, and Texas — are suing to stop the U.S. government from transferring control of the Internet to an international body on Saturday. A U.S. Department of Commerce contract with the Internet Corporation for Assigned Names and Numbers, or ICANN, is set to expire Friday. ICANN, formed in 1998, manages domain names […]
Apple Inc. is reportedly planning to open its first research and development center in China, allowing the tech giant to extend its reach in a vital market and maintain goodwill with the Chinese government. The Cupertino tech giant will eventually invest 300 million yuan, or $45 million, in the facility, which will have 500 employees, according to the state-run China Daily newspaper. Zhongguancun Science Park, a Beijing […]
UAE. (ME NewsWire )–Despite the fact that FinTech has been causing significant digital disruption to global finance for almost a decade, the sector is still in need of strong guidance against regulatory hurdles, says a new report from ACCA (the Association of Chartered Certified Accountants). The report, FinTech – transforming finance, finds that while FinTech’s impact on finance and banking is proving to be as revolutionary to […]
UAE. The UAE industrial market has continued to show a relatively steady performance despite the emergence of economic headwinds, amidst on-going global uncertainty, according to the H1 2016 UAE Industrial & Logistics MarketView, by global real estate consultancy firm CBRE. The softening of crude oil prices over the past 18 months has had mixed effects on the UAE industrial sector, and on the markets in Dubai and […]
The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) and Jordan Securities Commission (JSC) signed an agreement (MoU) to enhance regulatory cooperation and foster cross-border activities. The MoU establishes a framework for both Authorities to co-operate on supervisory matters and exchange of information to maintain the stability and well-being of the financial systems in each respective capital market. This agreement further complemented and […]
The UAE was ranked first regionally and 16th globally in the latest Global Competitiveness Report issued by the World Economic Forum (Davos) in Switzerland. The report is one of the most important global competitiveness reports, which monitors annual performance and competitiveness of the economies of countries in terms of strength, weakness, impact on quality of life, prosperity and well-being of people. Switzerland, Singapore and the United States […]
BEIJING Samsung Electronics Co Ltd, the world’s biggest smartphone maker, said on Thursday more than 1 million people globally are now using Galaxy Note 7 smartphones with batteries that are not vulnerable to overheating and catching fire. Samsung on September 2 initiated a voluntary global recall of at least 2.5 million Note 7 smartphones due to faulty batteries causing some of the flagship devices to […]
By Edward Taylor and Eric Auchard | PARIS/FRANKFURT PARIS/FRANKFURT Alarmed by the threat posed by Silicon Valley firms to their businesses in developing autonomous driving systems, it was evident at the Paris Motor Show this week that carmakers are seeking to fight back by cooperating in areas of technology development where previously they might have tried to compete. Three big carmakers – BMW (BMWG.DE), Daimler (DAIGn.DE) and […]
MUMBAI/HONG KONG Wal-Mart Stores Inc is in talks to buy a minority stake in India’s largest e-commerce firm Flipkart, two people familiar with the matter said, as the world’s biggest retailer aims to break into a fast growing but highly competitive online retail market. One of the sources said the U.S. retailer was looking to invest between $750 million and $1 billion in Flipkart, but the final […]
UAE. A new report by The Boston Consulting Group (BCG) reveals that, when it comes to its current-level Sustainable Economic Development Assessment (SEDA) scores, the UAE outperforms the GCC and the rest of the world in most dimensions—including income, employment, education, infrastructure, civil society, governance, and environment. Across these dimensions, the UAE topped the average scores of both the GCC and the rest of the world. The […]
UAE. Mobile phones are the most commonly used device among consumers in the UAE and more than half of all consumers (59%) prefer using their smartphones over any other device to make payments, the new Mastercard Impact of Innovation Study reveals. The study surveyed 23,000 consumers in 23 different countries across the Middle East, Africa and Europe about their attitudes to digital technology. It found that while […]
UAE. Dubai’s residential and hospitality markets have rebalanced towards a “new normal” in the first six months of 2016, according to Deloitte’s new report “Deloitte Real Estate Predictions 2016 – H1 Review.” The report predicts that residential sale prices will decline further in Dubai for the balance of 2016, but that this rate of decline will slow, as value and affordability returns to the market. “Our real […]
Nokia Bell Labs, Deutsche Telekom T-Labs and the Technical University of Munich (TUM) have achieved unprecedented transmission capacity and spectral efficiency in an optical communications field trial with a new modulation technique. The breakthrough research could extend the capability of optical networks to meet surging data traffic demands. In an optical communications field trial, Nokia Bell Labs, Deutsche Telekom T-Labs and the TU Munich showed that the […]
|By Matein Khalid| The Federal Reserve did not disappoint the financial markets after Janet Yellen’s FOMC conference on Wednesday. The US central bank did not raise the overnight borrowing (or Fed Funds rate) to 0.5% on the eve of the November election. This triggered a wild rally in the US stock market with the Dow Jones up 163 points, gold up to $1342 and oil to $46 […]
|By Arabian Post Staff|The United Arab Emirates (UAE) has witnessed a 210.8% growth in the use of Chinese currency for payments in the last two years, data released by SWIFT has shown. More than 80% of the direct payments made between the UAE and China and Hong Kong in August 2016 were in CNY, representing one of the highest increases worldwide. Data also shows that the EMEA […]
|By Arabian Post Staff| High gold prices are threatening India’s status as a leading importer of gold and this has significant impact on Dubai gold trade. According to Indian reports, the Indian gold bazaars have seen a mass movement of people selling their gold jewelry. The market has transformed from whole sellers and brokers to individual gold sellers looking to take advantage of the high price of gold, […]
|By Arabian Post Staff| OPEC members aren’t likely to reach a supply deal in Algiers next week, but an agreement to boost prices could be drawing closer after Saudi Arabia signaled for the first time in two years that it’s willing to cut production, Bloomberg reported. Saudi Arabia and Iran, whose rivalry thwarted a deal with other major producers in April, didn’t reach agreement after two days of […]
/Klaus Wille/Bloomberg/Singapore-based hedge funds outperformed Asian rivals during the first seven months of the year thanks to a greater focus on India and global markets, according to data provider Eurekahedge Pte. Funds headquartered in Singapore returned 2 percent through July, while Hong Kong-based funds declined an average 2.3 percent, Eurekahedge said in a report Tuesday. Funds based in Australia rose 1.9 percent, while Japan-based funds declined 2.5 […]
|By Matein Khalid| When Ben Bernanke uttered the word “taper” in May 2013, he triggered a bloodbath in emerging markets and a free fall in “fragile five” currencies that included the Indian rupee and the Indonesian rupiah. However, Asian equities markets, while not immune to a Fed rate hike, are far better positioned for higher US dollar interest rates than in 2013, let alone 2007 or 1998. […]
|By Arabian Post Staff| The global oil market will most likely remain oversupplied for the rest of 2016 and well into 2017, rating agency Standard & Poor’s has forecast. The view has been attributed to global oil production remaining in excess of demand, and the resulting persistently high crude oil and product inventories putting spot prices and near-term futures under significant pressure. Members of the Organization of […]
