Emaar Malls has bid up to $800 million to take over e-commerce giant Souq.com, sources familiar to the offer have have confirmed to Arabian Business. Last week Amazon agreed in principle to a 100 percent takeover of Souq.com, in a deal believed be worth around $580m. The Emaar offer for $800 million is thought to have included a $500 million convertible deposit. However, it is understood that […]
A rush by emerging market governments to sell debt before the US Federal Reserve further raises interest rates this year has propelled issuance in Asia to record levels since the start of January, new data shows. Swelled by a $3bn Indonesian bond launched on Thursday, the total value of sovereign bonds sold in Asia, excluding Japan, reached $8.2bn in the year so far, up from $6.5bn in […]
Platinum is a very expensive metal and it is therefore one of the bottlenecks hindering the growth of renewable energy. Platinum is used as the catalyst in electrolysers that store electric energy as chemical compounds, and it also plays an important role in fuel cells, catalytic converters and many chemical processes used in industry. A group of Aalto University researchers led by professors Tanja Kallio and Kari […]
BEIJING An operation platform collapsed at a power plant in China on Saturday, killing nine people and injuring two, the official Xinhua news agency reported. The accident, in the southern province of Guangdong, happened at the No. 7 Thermal Power Plant in the provincial capital, Guangzhou, Xinhua said, citing sources with the local government. The plant is still under construction. The government has launched an investigation. Accidents […]
By Rodrigo Campos and Chuck Mikolajczak | NEW YORK NEW YORK The death of the Republican healthcare reform may not prove to be the knife to the heart of the bull market some had feared, but to keep the Trump Trade alive investors should temper expectations for the breadth of expected tax cuts. Anxiety over prospects for the healthcare bill gave stocks their largest weekly drop since […]
“I’d like to see you hold back on settlements for a little bit,” Mr. Trump told Mr. Netanyahu on Feb. 15, during the Israeli premier’s visit to the White House. “We’ll work something out.” Continue reading the main story Mr. Netanyahu replied, “Let’s try it,” prompting Mr. Trump to joke, “Doesn’t sound too optimistic, but he’s a good negotiator.” On Thursday, a delegation of senior aides to […]
Micron Technologies saw its shares climb to their highest level in two years after the semiconductor maker reported a strong quarter of sales and profit and signalled that the good times would continue to roll. The stock was one of the day’s biggest gainers, rising 7.4 per cent to $28.43. Strong demand and rising prices helped Micron deliver a 58 per cent jump in revenue to $4.65bn […]
US stocks suffered their worst weekly performance since the November election after Donald Trump failed to rally support for his healthcare plan, raising the pressure on the US president as he pursues the rest of his agenda. After trading up for most of the session on Friday, the S&P 500 sold off as it became clear the alternative to Barack Obama’s Affordable Care Act lacked the votes […]
Aldar Properties has announced further details of its current investment programme to include mid-market residential, hospitality and retail assets on Yas Island and Reem Island. The developer said in a statement that they amount to a total of AED1.9 billion ($520 million) and follow the AED1.1 billion already invested in the Daman House acquisition, Al Jimi Mall extension, Al Mamoura school and Repton school. All projects announced […]
24 March 2017 Sharjah, United Arab Emirates – The sixth International Government Communication Forum (IGCF 2017) concluded its first day of constructive dialogue, debate and engagement at the Expo Centre Sharjah, on a successful note. The event was officially inaugurated with a speech by the patron His Highness Sheikh Dr Sultan bin Mohamed Al Qasimi, UAE Supreme Council Member and Ruler of Sharjah, who welcomed the participants. […]
The GCC’s industrial sector is continuing to grow, with the number of people it employs more than doubling since 2005, according to new research by the Gulf Organisation for Industrial Consulting (GOIC). In a report on manufacturing industries in GCC countries, the GOIC said most recent figures reveal the labour force has risen sharply from about 774,000 workers in 2005 to more than 1.6 million workers in […]
Last year, Donald Trump won the election for president by bemoaning the disappearance of the American factory and pledging to bring back manufacturing from other countries. Now in power, he might have to start worrying about the decline of another traditional pillar of the US economy — the American shopping mall. Fears that the rise of online shopping will lead to substantial dislocation in the retail sector […]
Chinese oil companies are turning their focus to overseas retail and services markets, as slowing growth in domestic fuel demand makes their traditional home market less attractive. Sinopec this week agreed to buy Chevron’s 75 per cent stake in a Cape Town refinery, affiliated service stations and convenience stores in South Africa and Botswana for $900m. It was the only remaining bidder after a year-long tender process. […]
24 March 2017 Sharjah, UAE – Themed ‘The Role of Social Media Platforms – From Participation to Real Partnership’, a panel discussion featuring communication specialists examined the role of social media in enabling governments to better communicate with their citizens on the second day of the sixth International Government Communications Forum (IGCF 2017). Eminent panellists included His Excellency Saeed Saleh Al Remeithi, Member of the UAE Federal […]
Dubai-based DP World, one of the world’s largest port operators, is exploring logistics opportunities and the development of industrial parks in Panama. Sultan Ahmed Bin Sulayem, DP World Group chairman and CEO, met with the President of Panama, Juan Carlos Varela, to explore opportunities relating to the expanded Panama Canal. The meeting was also attended by Roberto R Roy, Minister for Canal Affairs and Augusto R Arosemena, […]
Ford said that slowing new car demand in the US and rising costs could halve its first-quarter earnings per share compared with last year’s record first quarter. The Detroit carmaker’s shares slipped in New York on Thursday after the company said in a statement that it now expects pre-tax profits of $9bn in 2017, down from $10.4bn last year. It expects profits to rise again in 2018. […]
Not everything is Donald Trump’s fault. And by the same token, not everything that goes right in the world can be attributed to him. It can be difficult to remember this, particularly in the US where domestic politics is crowding out almost everything else from the news, and where most people are inclined to view the news through stridently pro- or anti-Trump lenses. Mr Trump seems so […]
At the start of the year, I was part of a panel that aimed to offer career guidance to graduating students at a local secondary school in Singapore. The panel dished out the usual advice about the need to have passion, work hard, and always strive to do better. A student then posed a question that struck a chord: “How can I ensure the skills I learn […]
24 March 2017 Saudi Arabia – In the hustle and bustle of the modern age, smartphones have become very important devices helping people of different age groups and backgrounds with their day-to-day lives. These days, it is almost impossible to manage without smartphones. Unlike its predecessors, smartphones are not limited to basic communication as they have conquered the business world, becoming a key source of information, including […]
By Sumeet Chatterjee | HONG KONG HONG KONG HSBC (HSBA.L) plans to add as many as 1,000 new employees to its Chinese retail banking and wealth management arm this year, the business’s regional head said, most of them in the Pearl River Delta, the heart of the bank’s growth strategy in China. If that target is hit, the new additions will mean HSBC will have hired twice […]
|By Arabian Post Staff| A likely ban on slaughter houses in the Indian state of Uttar Pradesh, which contributes a major portion of India’s meat exports, following the election of the right-wing BJP government in the state is sending a chill down India’s meat industry. If the government goes ahead with the ban, it will have serious implications for markets like the Middle East, where Indian meat […]
The wheels on America’s tech IPO train continue to turn. Enterprise data analytics firm Alteryx, the next tech firm in line to go public, has priced its shares at $14 ahead of its listing on the New York Stock Exchange tomorrow (Friday). That pricing — which comes in at the top of the firm’s range — will see Alteryx, which is listing under AYX symbol, raise $126 million from the nine […]
By Venus Wu and Jess Macy Yu | HONG KONG HONG KONG Hong Kong on Sunday will likely select Beijing’s favoured candidate for its next leader who some say will further divide a city where middle class families have become increasingly disaffected by political tension and economic hardship. The former British colony, governed under a “one country, two systems” arrangement, was promised a high degree of autonomy […]
US stock funds suffered their largest redemptions since the Brexit vote in June as Donald Trump’s push to reform healthcare floundered ahead of an expected vote in Congress in the biggest test yet of his young presidency. The quarrel among Republicans over the politically charged healthcare legislation has increased market volatility and flamed investor fears that the US president may struggle to pass tax reforms later this […]
