Doha, Qatar – 12th March 2017 Nakilat held its Annual General Meeting (AGM) for the financial year 2016 and Extraordinary General Meeting (EGM). During the AGM, Nakilat’s Board of Directors stated that the company achieved a net profit of QR 955 million compared to QR 984 million for the year 2015. The General Assembly reviewed and approved all its agenda. The Board of Directors stated that despite […]
When it comes to renewable energy in Saudi Arabia, there still remains more than a hint of scepticism. Multi-billion dollar plans have come and gone and the kingdom has made little progress developing renewable energy capabilities to harness its advantageous climatic conditions. In 2010, the King Abdullah Centre for Atomic and Renewable Energy (KA-Care) was established to develop the country’s renewable and nuclear capabilities, as the country […]
12 March 2017 Dubai, United Arab Emirates Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global leader in cybersecurity solutions, in collaboration with INTERPOL, today released research on cybercriminal activity in West Africa, “Cybercrime in West Africa: Poised for an Underground Economy,” as part of its ongoing Cybercriminal Underground Economy Series (CUES). Scams targeting individuals and businesses have grown exponentially since 2013. West African cybercriminal activity is […]
By Angela Moon | NEW YORK NEW YORK For some millennial investors, loyalty to one of their favorite apps matters more than financial details in the case of Snap Inc. The stock of Snapchat’s parent company has been on a roller-coaster ride since its market debut last week, surging more than 70 percent from the initial public offering price in the first two days of trading and […]
Here are the main questions facing investors and markets as a new trading week beckons. What will the Federal Reserve say?Sometimes words matter more than action. A quarter percentage point tightening is all but baked in after the February jobs report, when 235,000 jobs were created — eclipsing market expectations. Of greater importance is whether Fed officials indicate a willingness for a faster rate of tightening in […]
CAIRO Cairo’s population is set to grow by 500,000 this year, more than any other city in the world, adding to the pressure on an Egyptian economy struggling to recover from six years of political turmoil. Greater Cairo, a metropolitan area including the cities of Cairo, Giza and Qalyubia, is home to some 22.8 million people and will gain another half a million in 2017, a Euromonitor […]
Authored by Federico Pieraccini via The Strategic Culture Foundation, While the world continues to decipher, or digest, the new Trump presidency, important changes are afoot within the grand strategic triangle that lies between Russia, Iran and China Away from the current chaos in the United States, major developments are progressing, with Iran, Russia and China coordinating on a series of significant moves crucial for the future of […]
Company’s yearly revenue surges by more than 30% in 2016, staff strength increases from 350 in 2015 to 600 in 2016 11 March 2017 Abu Dhabi, UAE – Emirates International Property Services (EIPS), a Bloom Holding subsidiary that offers a comprehensive range of competitive, customised facility management services, has adopted a simpler and more dynamic brand name – b.fm. The move is part of the company’s strategy […]
By Fathin Ungku and Hillary Teo | SINGAPORE SINGAPORE More than 100 people gathered in Singapore’s Speakers’ Corner on Saturday for a rare protest against a government plan to hike water prices that has stirred discontent over sluggish economic growth and rising unemployment in the city-state. Singapore’s government enjoys strong popular support but is also known for having little tolerance for dissent. Residents are only allowed to […]
ABU DHABI // From exploring the ocean’s depths and deep space to supporting emergency personnel in natural disasters, researchers believe robots are the key to solving many of the world’s most difficult challenges. Unmanned systems have the potential to transform military operations, the way first responders fight fires and how researchers explore the ocean depths, experts have said. The world will also witness greater human-machine collaboration, artificial […]
This report marks the end of a series of three big trains of thought. The first explained how we’re living through the Mother Of All Financial Bubbles. The next detailed the Great Wealth Transfer that is now underway, siphoning our wealth into the pockets of an elite few. This concluding report predicts how these deleterious and unsustainable trends will inevitably ‘resolve’ (which is a pleasant way of […]
Middle East carriers led the world after posting the biggest growth in passenger demand in January, according to new figures. The region’s airlines reported year-over-year demand growth of 14.4 percent, said the International Air Transport Association (IATA). It added that capacity climbed 11.4 percent and load factor rose against the year-ago period for a third consecutive month, up 2.1 percent to 79.8 percent. Globally, demand (measured in […]
Alphabet’s Waymo is requesting for a preliminary injunction to keep Uber from pushing through with its self-driving car plans and thus stop the ride-hailing service from using allegedly stolen secrets. This move follows the lawsuit Waymo filed back in February against Otto, a self-driving truck startup, and Uber, the startup’s parent company. The case argues that the defending party has stolen more than 14,000 confidential documents, including info […]
Burkhard Varnholt last week paid €14 for lunch for two people at a smart restaurant in Berlin. “The euro is so cheap,” says Credit Suisse’s deputy chief investment officer. It is cheap because of one factor: Marine Le Pen. In normal circumstances, the euro would be trading a lot higher on the back of the eurozone’s record current account surplus, an unemployment rate at its lowest in […]
Business conditions in the UAE’s non-oil private sector continued to improve in February, with a sharp increase in inflows of new work underpinning a robust expansion of output, according to a new survey Data from the Emirates NBD UAE Purchasing Managers’ Index (PMI) showed that strong demand conditions and a favourable economic environment encouraged companies to scale up purchasing activity and hire additional workers over the month. […]
Samsung Electronics has completed the acquisition of Harman International Industries in a deal worth $8 billion, the company announced. Harman stockholders will receive $112 per share in cash, and the deal was approved by the US firm’s stockholders and local and foreign regulators, the Korean company said. Harman will be 100 percent owned by Samsung, while Dinesh Paliwal will remain as Harman’s CEO. The company’s workforce, headquarters, […]
Emirates National Oil Company (ENOC) has announced plans to build 10 new service stations in 2017, as part of its 2020 expansion programme to increase its retail network capacity by 40 percent. The group’s plans for this year started with the opening of its new Warsan service station, with other locations to include Sheikh Zayed Road, Al Barsha South, Hessa Street, Sheikh Rashid Road, Bab Al Shams, […]
Bank shares have been the runaway winners of the post-election U.S. stock market boom as investors wagered that higher interest rates, lighter regulation, lower taxes and faster economic growth would boost profits for lenders. Up 32 percent since the election of Donald Trump, the S&P 500’s bank index .SPXBK has outpaced the wider market’s gain by roughly 3-to-1. Now, however, a changing dynamic in the bond market […]
Saudi Arabia’s is set to narrow during 2017 on the back of higher oil prices, discipline in spending and non-oil revenue measures, according to a new research note by Bank of America Merrill Lynch. BofA Merrill Lynch said it sees the 2017 budget deficit at SR316 billion ($85 billion), about 12 percent of the Gulf kingdom’s GDP, compared to a deficit of SR402 billion in 2016, which […]
Dubai, UAE, 9 March 2017: Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has been awarded with “Best Sukuk House” at the EMEA Finance Middle East Banking Awards 2016. The ninth edition of the EMEA Finance Middle East Banking Awards took place at the Conrad Hotel in Dubai recently, and celebrated the regional banking industry’s top achievers. Dubai Islamic Bank is an international leader […]
WASHINGTON A series of tweets by White House spokesman Sean Spicer on Friday commenting on strong February job creation figures may have run afoul of federal guidance barring most officials from commenting on key economic data within an hour of its release. The rule, Statistical Policy Directive Number 3, is meant to “preserve the distinction between the policy-neutral release of data by statistical agencies and their interpretation […]
By Lucia Mutikani | WASHINGTON WASHINGTON U.S. employers hired workers at a robust pace in February, beating expectations, and wages grinded higher, which could give the Federal Reserve the green light to raise interest rates next week despite slowing economic growth. Nonfarm payrolls increased by 235,000 jobs last month as the construction sector recorded its largest gain in nearly 10 years due to unseasonably warm weather, the […]
Risky US corporate bond funds suffered the largest weekly redemptions since the US election in November, as oil prices settled at their lowest level since December and benchmark stock indices slipped from record highs. The high-yield corporate bond asset class, which is comprised of speculative-rated groups judged more likely to default than their investment-grade peers, recorded outflows of roughly $2.8bn in the week to March 8, according […]
Saudi Arabian corporate earnings may finally have bottomed out after two years of falls due to low oil prices and the government austerity which followed, with the petrochemicals sector leading signs of recovery. But a sharp rebound is unlikely for companies in the Middle East’s biggest economy as further austerity looms and they are competing for customers who are no longer flush with cash. Analysts say stronger […]
