Deal Professor By STEVEN DAVIDOFF SOLOMON It’s hard to get one’s head around it: An initial public offering that would value a company in the trillions of dollars. That’s trillions, with a T. Saudi Arabia is considering selling shares in its state oil company. With 261 billion barrels of oil in reserves and a yearly output of over three billion barrels of oil, the company, Saudi Aramco, […]
}By Arabian Post Staff| Iran plans to set up its own financial center as it seeks to attract global financial institutions, Bloomberg reported. Chinese and Russian banks are seeking to set up representative offices in the area, Farhad Taghizadeh-Hesary, senior adviser to the Qeshm Investment and Development Co., was quoted as sayig in an interview. One of Japan’s largest banks is also negotiating with officials on establishing a […]
LONDON — After years of international isolation under the rule of Col. Muammar el-Qaddafi, Libya sought to emulate its Middle Eastern neighbors by creating a sovereign wealth fund in 2006 to invest the proceeds from its sale of oil. The North African nation soon turned to Goldman Sachs to help it invest some of the more than $35 billion in funds it had available in late 2007. […]
A 22-year-old Dutch woman detained for three months in Qatar on suspicion of adultery after she reported being drugged and raped was given a one-year suspended sentence on Monday and will be allowed to return home, the Dutch Foreign Ministry said. The woman, identified only as Laura and described as being from the Dutch city of Utrecht, was held and prosecuted on charges of adultery and alcohol […]
From the author of the definitive history of Bourbon, Dane Huckelbridge, comes The United States of Beer: A Freewheeling History of the All-American Drink. From George Washington’s first unsuccessful batch of homebrew to the rise of our country’s global mega beer brands to the frontlines of our current craft brew renaissance, this book covers the evolution of America’s favorite drink. Let’s block ads! (Why?) -Werd
Global IP traffic is expected to triple over the next five years, as a result of more than 1 billion new Internet users coming online before 2020, according to Cisco. As many as 10 billion new devices may join the Internet in that time, bringing the total number of connected devices up to 26.3 billion from the 16.3 billion that were connected in 2015. The study is […]
|By Matein Khalid|Dr. Mervyn King broke with tradition by publishing his book “The End of Alchemy: money, banking and the future of the global economy”. After all, retired governors of the Bank of England do not, as a rule, do not write/publish books, let alone write books that lambast the City of London’s culture of greed and hubris. It is no coincidence that Dr. King quotes T.S. […]
SAUDI ARABIA. According to a new report by The Boston Consulting Group (BCG), the digital age has ushered in a number of trends that have transformed the media consumption habits of each Saudi generation profoundly – and vastly differently. In parallel, with information and connectivity available at everyone’s fingertips – anywhere, anytime – the Kingdom’s traditional media landscape has, in recent years, been disrupted. The findings presented […]
INTERNATIONAL. A sense of disappointment permeated through the global markets during trading on Monday following last week’s shocking NFP result of 38k that discounted expectations over the Fed raising US rates in Q2. With the number of jobs created falling to its lowest level since 2007, the Dollar was left vulnerable as concerns elevated over a potential economic slowdown in the States. Although the headline unemployment rate […]
In the days before rapid sea or air travel, it could take months to travel to Mecca. The spiritual heart of Islam lay far from its great capitals in Istanbul, Delhi and Isfahan. The devout came from distant lands on foot, by camel and in horse-drawn carriages. Bedouin tribes routinely robbed these pilgrims, who were the primary source of revenue for this ancient desert town. Now, the […]
DUBAI // A Ramadan education campaign to distribute five million books to children in refugee camps and schools around the world was launched on Sunday by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai. The Reading Nation campaign, announced by Sheikh Mohammed on Twitter, is part of Mohammed bin Rashid Al Maktoum Global Initiatives. He said that he asks God to accept his and the […]
INTERNATIONAL. As companies move to catch up with the digital future, they are taking a close look at what kind of executive they need to lead the way. In a new report, “The Right CDO for Your Company’s Future”, Strategy&, PwC’s strategy consulting business, defines five Chief Digital Officer (CDO) “archetypes” – descriptions of typical roles CDOs might play within an organisation. The Five Archetypes of a […]
Ali was the most thrilling if not the best heavyweight ever, but he was more than the sum of his athletic gifts Ali faces the media at the US federal court in June 1967, while on trial for refusing to be inducted into the armed forces. New York: Muhammad Ali, the three-time world heavyweight boxing champion who helped define his turbulent times as the most charismatic […]
Hewlett Packard Enterprise (HPE) announced a new suite of applications and services yesterday to help businesses comprehensively manage, govern and extract actionable insights from enterprise information. The new suite, called HPE Verity, aims to offer companies a set of tools that are both integrated and modular. The objective of HPE Verity is to address the problem enterprises have trying to manage a wide variety of data types, […]
Saudi Arabia’s sovereign wealth fund made its highest-profile deal, investing $3.5 billion in U.S. ride-share company Uber Technologies Inc. as the country seeks to diversify its assets with more overseas acquisitions. Yasir Alrumayyan, managing director of the Public Investment Fund, will take a board seat at the San Francisco-based company after the deal, which values Uber at $62.5 billion, the company said in a statement. It’s the biggest […]
INTERNATIONAL. –(BUSINESS WIRE)–Shifting power relationships in the Middle East are reordering regional geopolitics, entrenching a stalemate of conflict that threatens to further destabilize the region. Wars in Syria and Yemen and against the Islamic State, combined with the balancing of supply and demand in oil markets later this year, will likely return a risk premium to oil prices in 2017, says a new special report by IHS […]
More than 18 months after Apple Pay took the United States by storm, the smartphone giant has made only a small dent in the global payments market, snagged by technical challenges, low consumer take-up and resistance from banks. The service is available in six countries and among a limited range of banks, though in recent weeks Apple has added four banks to its sole Singapore partner American Express; […]
In all my long days as an automotive writer, not one single car manufacturer has asked me to attend their display at an international motor show, and drape myself alluringly across the hood of one of their vehicles. Sex Sells When people (in truth, men) discovered sex sells, car makers jumped on the band wagon. They found that a seductive model adjacent to the product seemed to […]
When was the last time you travelled through time? This evening, an archaeologist and a geologist will take to the stage at Manarat Al Saadiyat and invite their audience to do just that. They will take the audience on a journey from the UAE’s very distant past to a moment in its near future, taking in the broad sweep of Abu Dhabi’s geological history and the possible […]
A Bitcoin (virtual currency) paper wallet with QR codes and a coin are seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, May 27, 2015. Reuters/Benoit Tessier/File Photo LONDON The price of the web-based digital currency bitcoin soared to its highest in almost two years on Tuesday, rising to more than $500 per unit, as worries about a further weakening of the […]
A new line of chips from Qualcomm aim to be the go-to hardware to power the growing wearables market. Over the weekend, the chipmaker announced a new line of processors called the Snapdragon Wear 1100, containing numerous functions and complex usage capabilities. The new chipsets will be integrated into smart watches, smart headsets and various accessories. The new chips, which are meant to complement Qualcomm’s recently introduced […]
The application icons of Facebook, Twitter and Google are displayed on an iPhone next to an earphone set in this illustration photo taken in Berlin, June 17, 2013. Reuters/Pawel Kopczynski/Files BRUSSELS – Facebook, Twitter, Google’s YouTube and Microsoft on Tuesday agreed to an EU code of conduct to tackle online hate speech within 24 hours in Europe. EU governments have been trying in recent months to get […]
TEHRAN — In a sign of further tension between regional rivals, Iran will not allow its citizens to travel to Saudi Arabia for the annual Muslim pilgrimage to Mecca in September, Iran’s state television reported on Sunday. The decision, which means that tens of thousands of Iranians cannot make their spiritual journey to the main pilgrimage site of Islam, came after several failed rounds of talks between […]
|By Arabian Post Staff| DP World’s new $1.2 billion 7-year sukuk received strong investor interest and was two times oversubscribed receiving more than $2 billion in bids, the company announced. The new sukuk was priced at a fixed coupon rate of 3.91% maturing in 2023, replacing over $1.1bn of the 2017 6.25% coupon sukuk. The new sukuk issue followed DP World’s successful refinancing of over $1.1 billion […]
