54% of Amman residents rate the quality of education institutions as good or excellent, according to the 2016 Bayt.com and YouGov survey ‘Top Cities in the Middle East and North Africa’ Amman, Jordan, 28 November 2016 A new survey by Bayt.com, the number one career site in the Middle East, and YouGov, a pioneer in online market research, titled ‘Top Cities in the Middle East and North […]
Industry eyes opportunity to reinvest at higher yields and leave low rate era behind ©Noam Galai/WireImage/Getty Donald Trump may be just what the global insurance industry needs. Shares in several of the sector’s largest companies have outperformed the market strongly since the US election, on hopes that a prolonged squeeze on their returns is finally drawing to a close. Years of ultra-low rates have eaten away at […]
BEIJING Chinese police have formally detained nine people involved in a power plant construction project in the east of the country which collapsed last week killing 74 people, state news agency Xinhua said on Monday. The accident happened on Thursday morning in Fengcheng, in Jiangxi province, during work on a cooling tower for a coal-fired power plant. A tower crane collapsed, triggering the collapse of the entire […]
Soaring US ecommerce sales on the day after Thanksgiving have put Black Friday on course to challenge Cyber Monday as the year’s busiest online shopping day. But the opening days of the holiday shopping season have also seen heavy discounting that could weigh on retailers’ profits. US ecommerce sales hit a record $3.34bn on Black Friday, a 22 per cent increase from 2015, according to Adobe Digital […]
In these volatile times, gold is more important than ever. Bonner & Partners’ Bill Bonner explains in this two-part series, the importance of ‘real money’ and why you need it now… Many years ago, before the invention of modern money or capitalism, people still had wealth – although limited. And they still had ways of keeping track of it. The principle of “fair trade” seems to be […]
It is hard to believe that less than 50 years ago, life in the UAE relied entirely on the natural environment. When you look at photographer Richard Allenby-Pratt’s images of landscapes across the country, the devastation to the fine balance of a desert ecosystem caused by modern consumptive lifestyles is heartbreaking. Shots of the Hajar Mountains in Fujairah reveal great trenches carved out for cement production. On […]
Chinese electronics company Xiaomi witnessed a clear decline in its smartphone profit lately. The company, however, is not afraid of the drop, as it announced it derives its profits from other products aside from smartphones. Furthermore, company executives believe that the regression in its smartphone trade would have no significant negative impact to the company. Despite experiencing a fallback in terms of revenue as of late, Xiaomi […]
Electrolux, the Swedish appliance maker, is exploring starting an “Uber for laundry” in which consumers would use their own washing machines to wash other people’s clothes. Jonas Samuelson, the new chief executive of the world’s second-biggest white goods manufacturer, told the Financial Times that Electrolux was trying to overcome big hurdles to make the project work. “We have a few fun ideas we are testing, like: how […]
Our round-up of the week’s best comment and analysis from the Financial Times focuses on how infrastructure and fiscal policy shake-ups will play out for investors in the light of the current “Trumpflation” market rallies. The selection is taken from our Markets Insight and Smart Money columns, written by industry contributors and FT commentators. Infrastructure spending is the new zeitgeist of our age but we should have […]
By Edward Taylor and Jan Schwartz | FRANKFURT/HAMBURG FRANKFURT/HAMBURG Just as Porsche and Audi have fought for supremacy on the race track, the Volkswagen brands are now locked in a cut-throat battle to develop and manufacture the next generation of electric cars at a group embroiled in the “Dieselgate” scandal. Volkswagen Group denies that the kind of internal rivalry that it encouraged at the Le Mans 24 […]
Riyadh, Saudi Arabia, 27 November 2016 Saudi Hollandi Bank, announced today that it has rebranded to Alawwal Bank. The name change marks the start of a transformation that will see the bank build on its reputation for innovation and service excellence. The new branding highlights the bank’s commitment to supporting the growth of the country’s economy while meeting the demands of its existing customers and a new […]
Hotel demand will outpace supply by 2020, according to STR’s client relationships director Sarah Duignan. She made the pronouncement at the Accommodating growth in the Middle East presentation at the Hotelier Express Summit 2016, held on November 23 in Dubai. Duignan said Middle East hotels’ revenue per available room (RevPAR) levels had peaked in October 2009 at AED1,300 ($353.9) and today current average rates over the last […]
Here are the big questions we are asking at FT Markets into the week when the calendar flips over into December. Will Opec deliver a meaningful production cut? All eyes are on Vienna and Opec’s annual gathering with a keenly awaited decision on production levels. An Opec deal on Wednesday that delivers a concrete supply reduction of at least 1m barrels a day, with non-members such as […]
Saudi-based developer Cayan Group is set to announce the launch of a hotel apartments tower as part of its $272 million Cayan Cantara project in Dubai. The developer said in a statement that the hotel apartments tower will be managed and operated by a well-renowned hospitality giant, to be named later this month. The launch will represent the company’s first foray into the hospitality sector, it said. […]
As mourners carried the coffin of a slain Hezbollah commander, they moved quickly to wipe away blood still dripping from his body — it had been washed in haste as it was rushed from the battlefields of Aleppo to its final resting place in Lebanon. While Russian war planes and bombs have dominated headlines about outside intervention in Syria’s five-year conflict, thousands of those fighting on the […]
By David French DUBAI, June 10 (Reuters) – Banque Saudi Fransi (BSF), the kingdom’s fourth-largest listed lender, will complete a 2 billion riyal ($533 million) capital-boosting sukuk issue by the end of this month, banking sources said on Tuesday. Pricing of the trade, which will boost the bank’s Tier 2 – or supplementary – capital, is at 140 basis points over the Saudi interbank offered rate (Saibor) […]
25 November 2016: Gulf International Bank (GIB) last night revealed its new corporate identity coinciding with the bank’s 40th anniversary celebrations. The unveiling of the new identity was shared with officials at a special ceremony in the Kingdom of Saudi Arabia, Riyadh. The new brand identity reflects the core of the bank’s new strategy and its board’s vision for the bank to be the preferred financial services […]
By Noel Randewich | SAN FRANCISCO SAN FRANCISCO Wall Street expects consumers to open their wallets a little wider this holiday shopping season but bargains among red-hot retail stocks could be hard to find, especially as profit growth proves elusive for many big names. Retailers, including Best Buy, Kohls Corp and Macy’s, that were pummeled in last year’s disappointing holiday quarter have seen their shares surge recently […]
Abu Dhabi Terminals (ADT) has announced that on it recently set a new daily record by handling 5 million containers, a milestone achievement for Khalifa Port Container Terminal (KPCT). The record number was achieved on October 28 serving the CMA CGM, a vessel belonging to ADT’s long-term customer, CMA CGM Pegasus. The new throughput milestone follows terminal operator ADT’s success in the first half of 2016, which […]
Professor Stephen Hawking, David Coulthard and Lily Cole supported the event that looked into the changing perceptions towards wealth 26 November 2016 Abu Dhabi – UNLIMITED, a new platform powered by UBS, hosted an exclusive event at New York University Campus in Abu Dhabi today that explored changing attitudes towards wealth. UNLIMITED is a content partnership with the aim of deepening and amplifying public understanding of what […]
Nov. 21, 2016 11:03 a.m. ET LONG BEFORE BRITISH ACTOR and rapper Riz Ahmed made a career of role-playing, he was already navigating competing identities. “There was a bit of a jump between home and school, both culturally and classwise—I often found myself pinballing between different versions of myself,” says Ahmed, 34, about his teenage years. “I guess, in a way, I was sort of acting from […]
Updated Nov. 25, 2016 8:52 p.m. ET The most valuable U.S. financial-technology startup is extending its lead. Stripe Inc., whose software is used by businesses to accept and track digital payments, will be valued at $9.2 billion in a new funding round that is being completed, the company said. That valuation, which includes roughly $150 million in new cash being raised, nearly doubles the privately held company’s […]
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Event recognizes importance of encouraging innovation, knowledge and reading in cultural advancement UAE, November 24, 2016 In celebration of the UAE Innovation Week 2016, the Secretariat of the Supreme Legislation Committee (SLC) has held a ‘Reading Day’ recently as part of the national efforts to promote science, innovation and reading and place the UAE as one of the leading capitals in culture, knowledge and innovation. This move […]
