Nicola Sturgeon has backed her demand for another independence referendum with a call for disaffected citizens in the rest of the UK to move to Scotland and a promise of continued immigration from Europe. In a speech closing her Scottish National party’s spring conference, Scotland’s first minister dismissed UK prime minister Theresa May’s rejection of a second referendum, saying that while timing could be discussed, a plebiscite […]
Apple, Huawei, LG, Samsung, Sony lead the way as retail extravaganza prepares to open its doors to thousands of visitors in Dubai Global smartphone revenues continue to grow; 97% of UAE users reliant on WhatsApp for communication 18 March 2017 Dubai, United Arab Emirates – Thinner, faster and even more intelligent than we could have imagined, smartphones are back with a bang this year and leading […]
Finance ministers from the world’s biggest economies have dropped pledges to renounce protectionism in a meeting marked by tension over trade between the US and China. G20 finance ministers meeting in the German resort town of Baden-Baden noted the importance of trade to the global economy, but dropped tougher language from last year that vowed to “resist all forms of protectionism”. We have reached an impasse The […]
Real growth in the non-oil sector of Bahrain’s economy reached an annual rate of 4.7 percent in the third quarter of 2016, according to new official figures. This marked a clear acceleration from the 3.6 percent pace seen during Q2, said the country’s Economic Development Board in its latest research note. Overall, during the first three quarters of 2016 the Bahraini economy expanded by a real 3.6 […]
Brazil’s economy will emerge this quarter from its deepest recession on record and reach a growth rate of up to 3 per cent by the final three months of the year, central bank chief Ilan Goldfajn has said. The recovery would be driven by a combination of easier monetary policy as inflation falls to levels not seen since January 2010, economic reforms that are boosting investor confidence […]
18 March 2017 Manama, Bahrain – GFH Financial Group (“GFH” or “the Group”) announced today that it has convened its first meeting in Abu Dhabi last Thursday for its new Board of Directors, whose appointment was recently confirmed for the 2017-2019. Upon its first meeting the 10 member Board have indorsed the appointment of his Excellency Shaikh Ahmed Bin Khalifa Al-Khalifa as GFH’s new Chairman and Dr. […]
ABU DHABI // An event held to raise awareness about special education was attended by Sheikh Nahyan bin Mubarak Al Nahyan in the capital on Thursday. The gala dinner took place at the Abu Dhabi’s Future Rehabilitation Centre, where the Minister of Culture and Knowledge Development praised the centre’s 16 years of contribution to the development of special education and rehabilitation of young people with disabilities, reported […]
The GCC mobile phone market returned to growth in the final quarter of 2016 after suffering three consecutive quarter-on-quarter declines, according to the International Data Corporation (IDC). The global technology research and consulting firm said the region saw the shipment of 5.98 million units in Q4, up 7.7 percent on the previous quarter. When viewed year on year, however, the shipment numbers for Q4 were still down […]
The Partnership for Open & Fair Skies, a coalition of top US airlines and unions, has sent an open letter to President Donald Trump, urging action to address alleged trade violations by the UAE and Qatar The letter, which has been published in the New York Times and the New York Post, claims that the emergence of Emirates, Etihad Airways and Qatar Airways on US routes threaten […]
By Caroline Valetkevitch | NEW YORK NEW YORK Small-cap stocks benefited from a dovish lining to the U.S. Federal Reserve’s decision to raise interest rates this past week, but strategists warn it will take more to make these pricey stocks outperform their larger brethren in the long haul. The Fed on Wednesday raised rates by a quarter of a percentage point, as expected, but did not flag […]
OTTAWA In a bid to attract high-tech workers, British Columbia said on Friday skilled immigrants living in Vancouver will not have to pay a special property transfer tax on foreign purchases of real estate. The Canadian province imposed the 15 percent tax on nonresidents’ purchases of property in the city last August amid concern that speculation by global investors, mostly from mainland China, was fuelling a bubble. […]
UAE-based retailer Paris Gallery has announced plans to open 30 new stores across the Middle East over the next five years. The company said in a statement that its expansion would focus mainly on the Gulf region and would see its workforce grow to about 5,100 employees, up from 3,500. The total projected retail area in operation will reach 3.2 million square feet by 2021, it added. […]
Brazilian outsourcing firm Stefanini IT Solutions has appointed a new chief executive for its operations in North America and Asia-Pacific. Former IBM head for global technology services Spencer Gracias will be leading the business for both regions, after joining the company as vice president in July 2016. Based at the firm’s Detroit offices, Gracias replaces Antonio Moreira, who had been leading Stefanini’s US presence since its launch […]
By Lisa Baertlein | LOS ANGELES LOS ANGELES McDonald’s Corp (MCD.N) investors will vote soon on whether to give the franchisees who operate most of the fast-food chain’s restaurants the opportunity to elect a board member, the proponent of a shareholder proposal said on Friday. The proposal, which faces long odds of success, is believed to be the first of its kind and has attracted great interest […]
Mulesoft, a software “unicorn”, gained 46 per cent in its trading debut in New York on Friday, the latest in a number of hot listings that are reviving the US market for initial public offerings. Mulesoft rose to $24.75 after pricing at $17, giving the IPO the best first-day “pop” this year, according to Dealogic. The performance follows recent first-day gains from Canada Goose, the maker of […]
Modcloth was founded in 2002 in Pittsburgh by Susan Koger. Walmart is buying Modcloth, an online retailer known for its vintage and geek-chic fashion designed to a range of female body types. Financial terms were not disclosed, but Walmart said it acquired Modcloth’s assets and operations and that the deal has already closed. Modcloth was founded in 2002 in Pittsburgh by Susan Koger, then a student at […]
HH Sheikha Manal: “The UAE’s success and experience qualifies the country to play an important role in shaping a new global roadmap for gender balance.” HE Mona Al Marri: “Through the Global Gender Circle initiative, we’re striving to provide new opportunities for international leaders and experts in gender equality to come together, develop innovative ideas and drive transformative change in achieving gender balance as well as bridging […]
As part of sweeping efforts to reduce regulation and boost business, President Trump this week announced plans to relax fuel economy standards. The Corporate Average Fuel Economy (CAFE) standards, which were implemented decades ago but accelerated under President Obama, call for automakers to reach a fleetwide average 54.5 miles per gallon by 2025. In typical deal-maker fashion, Trump went to Detroit to announce the easing […]
Friday 13:30 GMT What you need to know ● Dollar index nudges up after hitting five-week low● Short term US bond yields inch higher● Global stocks at record as Wall St gains ground● Oil prices firmer after volatile week● Gold advances towards $1,230 an ounce——————- Hot topic Has the buck bounce run its course? The dollar index (DXY) — a measure of the greenback against a basket […]
Bahrain’s tourism industry is growing rapidly and is expected to reach $1 billion by 2020, according to figures released ahead of Arabian Travel Market 2017. Bahrain witnessed an 8.4 percent increase in inbound traffic in the third quarter of 2016 and a peak of 1.4 million arrivals during the month of August, a statement said. It added that the Gulf kingdom expects to welcome 15.8 million annual […]
ING Direct in Australia has released its financial results for 2016, reporting AU$295 million in statutory after-tax profit off the back of attracting 163,000 new customers during the 12-month period. According to ING CEO Uday Sareen, the bank’s customer growth came as a result of ING further developing its digital offerings and launching a new online banking platform in 2016. “Bank customer inertia is declining as people […]
Overall, there was a 17% increase in the number of companies in MEA in 2016 compared to 2015, with Johannesburg being the leading destination for Africa JOHANNESBURG, South Africa, March 16, 2017 The Middle East Africa (MEA) region has become increasingly important for the majority of global Fortune 500 countries, according to a new report released by Infomineo (www.Infomineo.com ), a global business research company specialising in […]
QInvest, the Qatari investment bank, has announced the acquisition of a plot of land on South Boulevard in Charlotte, North Carolina, US, in conjunction with a GCC investor. The company said in a statement that the property will be developed into an upscale 200-unit, multifamily apartment complex covering 165,000 square feet. It added that the necessary regulatory approvals have been received and the project is already well […]
Katherine Pace, CEO of children’s lifestyle tech startup Elanation, believes that while children are born “digital natives”, the more they are handed iPads, computers, mobile phones, wearables, and smart garments, the more cases of childhood obesity and digital depression or addiction emerge. In response, Pace and her co-founder Aimee Atkins decided to build a suite of technology products for kids, with a health-focused twist on the usual […]
