The boss of Dubai’s Emaar Properties has announced that the developer is set to “tighten its belt” next year as the emirate’s property market continues to stabilise, it was reported on Wednesday. Bloomberg quoted company chairman Mohamed Alabbar as saying that Dubai’s real estate market will see a “rebalancing” between supply and demand into next year. He said at a conference in Abu Dhabi that the company […]
SYDNEY Asian shares hustled to one-month highs on Thursday after Wall Street strode to another record, while bonds rallied on wagers the European Central Bank would extend its stimulus campaign at a policy meeting later in the session. Risk appetite got an extra boost when China reported upbeat trade figures with exports and imports both beating forecasts. Resource imports were very strong, a major reason prices for […]
Blackrock’s chief multi-asset strategist summed up tomorrow’s anxiously awaited ECB meeting best by noting that “what’s priced into markets is a fully fledged extension of the [bond-buying] program,” but warns that, thanks to a muted reaction to the Italy vote and recent encouraging data, “there’s a significant chance the ECB disappoints markets.” As bond traders bet on a six-month QE extension, Citi warns, anything less will be […]
By Hamid Shalizi and Josh Smith | KABUL KABUL Afghan and American officials are increasingly worried that any deepening of ties between Russia and Taliban militants fighting to topple the government in Kabul could complicate an already precarious security situation. Russian officials have denied they provide aid to the insurgents, who are contesting large swathes of territory and inflicting heavy casualties, and say their limited contacts are […]
General assembly meetings of FGB and NBAD held on December 7th Combined bank has total assets of approximately AED655 billion (US$178 billion), representing a 27% market share of UAE banking sector[1] Shareholders approve combined bank’s board of directors from effective merger date Effective date of merger towards the end of Q1 2017 as initially planned. Abu Dhabi, 7 December 2016 Shareholders in First Gulf Bank PJSC (FGB) […]
By Steve Holland | WASHINGTON WASHINGTON U.S. President-elect Donald Trump said on Wednesday he will nominate professional wrestling magnate and former Senate candidate Linda McMahon as his choice to head the Small Business Administration. Trump’s announcement said McMahon would be a key player in his effort to generate stronger job growth and roll back federal regulations. McMahon, 68, is a co-founder and former CEO of the professional […]
German and French stocks are closing in on a 20 per cent gain from their post-Brexit low, as a weaker euro and a thawing in sentiment towards banks raise the prospect that markets which disappointed investors for much of 2016 end it in positive territory. While the rebounds of the the two largest equity markets on the continent have been overshadowed by the run of new record […]
|By Arabian Post Staff| Continuing tough conditions in the Dubai real-estate market is prompting leading Dubai developer Emaar to look overseas for growth, chairman Mohammed Alabbar disclosed. Despite the correction in the domestic market, the company is expecting to grow next year Alabbar said at the Bloomberg Markets Most Influential summit in Abu Dhabi. The growth markets are expected to be India and Egypt, which remains a […]
The European Central Bank should retool its asset-purchase programme to fund a wave of new infrastructure spending across the continent, according to one of the world’s most powerful bond managers. Rick Rieder, global chief investment officer of BlackRock’s $1.6tn fixed income business, says the ECB should avoid a “false choice” between continuing on its present course or tapering its existing programme, when it meets to decide monetary […]
Porous crystals called metal-organic frameworks (MOFs) consist of metallic intersections with organic molecules as connecting elements. Thanks to their high porosity, MOFs have an extremely large surface area. A teaspoonful of MOFs has the same surface area as a football pitch. These countless pores situated in an extremely small space offer room for “guests” and can, for example, be used for gas storage or as “molecular gate” […]
Starbucks Corp (SBUX.O) set an annual revenue growth target of 10 percent and profit growth target of 15-20 percent for the next five years, and the coffee chain said it planned to open 12,000 stores globally by 2021. The company also said on Wednesday it would open an outlet of its high-end coffee chain, Reserve Roastery and Tasting Room, in Europe, bringing the number to five globally. […]
AMBERNATH, India—Saturdays are typically busy at the sales office of Patel’s Planet, one of the many new apartment developments in the suburbs surrounding Mumbai where India’s fledgling middle class has been flocking in recent years. But last Saturday, it was virtually deserted. Prateek Patel, the cousin of the developer, complained that he hasn’t sold an apartment since early November, when Indian Prime Minister Narendra Modi shocked the country by announcing an unprecedented […]
Qatar Airways on Tuesday announced that it will offer daily non-stop flights between Doha and Dublin, the capital of the Ireland. Qatar Airways Group CEO Akbar Al Baker said the airline will operate a Boeing 787 Dreamliner on the route which will launch on June 12, 2017. He said: “Qatar Airways has seen unprecedented growth in recent times and continues to launch new destinations on our global […]
Investment in Manufacturing Innovative Medicines Supports the Kingdom’s “Vision 2030” Aspirations 06 December 2016 Merck Sharp & Dohme (MSD), known as Merck & Co, Inc. in the US and Canada, has today highlighted the initiation of the manufacturing investment agreement with Pharma Pharmaceutical Industries (PPI). This deal enables PPI to exclusively manufacture many of the MSD medicines approved by the Saudi Food & Drug Authority and distributed […]
“I thought it would be a great opportunity to treat it like a college professor taking a sabbatical,” he said. Continue reading the main story So Thibodeau attended training camp with the Houston Rockets. He sat backstage with the performance troupe known as the Golden State Warriors. He hit the road with the Sacramento Kings. He met with coach after coach, trading ideas and jotting notes on […]
Wall Street climbed on Tuesday as telecom stalwarts AT&T and Verizon gained and bank shares added to their torrid post-election rally, helping the Dow set another record closing high. The S&P financial sector .SPSY rose nearly 1 percent, lifted by a 2.2 percent gain for Wells Fargo (WFC.N). The bank’s chief executive told an investor conference it will see a near-term profit hit because of the sharp […]
ABU DHABI // The UAE Space Agency issued the Arab world’s first national space policy in the capital on Tuesday – the first step to formulating laws for the industry. “The policy is just like a torch guiding us to where we have to go,” said Dr Mohammed Al Ahbabi, the agency’s director general. “Our space laws will have elements designed for tomorrow’s technologies and industries, such […]
A Turkish-Arab fund plans to spend up to about 300 million euros ($322 million) to redevelop a luxury seaside resort outside Greece’s capital Athens, bringing significant foreign investment into the cash-strapped country, the fund said on Tuesday. Greece concluded in October the sale of a 90 percent stake in the Astir Palace hotel complex to the Jermyn Street Real Estate Fund as part of a key privatisation […]
Hedge fund manager Pierre Andurand has returned almost 15 per cent this year by betting on a recovery in oil prices and he forecasts the rally has further to run after Opec’s agreement last week to cut supplies. The French founder of Andurand Capital, which has grown to be one of the world’s largest oil funds, returned 6.1 per cent in November as he positioned for crude’s […]
Solar panels, which convert sunlight into electricity, are a key player in the fast-growing renewable energy sector, which also includes water- and wind-generated electricity The climate-friendly electricity generated by solar panels in the past 40 years has all but cancelled out the polluting energy used to produce them, a study said Tuesday. Indeed, by some calculations, the so-called “break-even point” between dirty energy input and clean output […]
If you set out to make a positive investment case for Italy 20 years ago, the best hope was to play down the myriad structural inefficiencies that blighted the corporate sector and argue that this was a good economy burdened by an unworkable state. Now, after years of no growth accompanied by stubbornly high public debt, a positive case looks even harder to make, especially after the […]
Albaddad Capital has announced plans to expand its factory space in Dubai to 500,000 sq ft to enable growth in the production of temporary buildings and relief units. Albaddad said in a statement that it expects to triple its growth during the next five years to meet the Emirati market needs and customers’ requirements in the GCC, Africa and Middle East markets, in addition to expanding into […]
By Jonathan Cable | LONDON LONDON Britain will most likely leave the European Union having signed a bilateral trade agreement, according to a Reuters poll of economists on Tuesday that also suggested there remains little chance of the country slipping into recession. Since the June 23 decision to leave the EU, Britain’s economy has performed much better than had been previously feared. The Bank of England is […]
InfoComm MEA Opens Today as Region’s Leading A/V Event, Showcasing Holograms, Videoboards, and Audio and Lighting Systems DUBAI, United Arab Emirates – 6 December 2016 Holograms, massive videoboards, and state-of-the-art audio and lighting displays will be among the audiovisual innovations set to make Expo 2020 in Dubai the world’s most technologically advanced event. The UAE is one of the fastest-growing professional audiovisual markets in one of […]
