Emirates and the Gulf’s two other major airlines are likely to get pride of place at Frankfurt airport’s new terminal, allowing them to offer bigger premium-class lounges to compete more aggressively with local rival Deutsche Lufthansa AG. Frankfurt’s Terminal 3 will probably house Qatar Airways and Etihad Airways PJSC of Abu Dhabi, as well as Dubai-based Emirates, the world’s biggest carrier on international routes, Matthias Zieschang, chief […]
During the long 2016 election season, now-President-elect Donald Trump spent far more time talking about immigration, terrorism and the economy than he did about information technology issues. Over the past several years, though, he has occasionally taken to Twitter to bash net neutrality as a “top-down power grab” or say during a Fox & Friends television interview that Apple should be boycotted for fighting an FBI order […]
Donald Trump won’t be able to undo world powers’ nuclear deal with Iran, Iranian President Hassan Rouhani said, hours after the U.S. businessman was elected president. The 2015 accord, signed between Iran and six powers including the U.S., “cannot be overturned by one government’s decision,” Rouhani told his cabinet on Wednesday, according to the official Islamic Republic News Agency. Trump told a pro-Israel lobbying group in the […]
|By Arabian Post Staff|Donald Trump’s election as American President is expected to further complicate OPEC’s efforts to strike a deal for output freeze. OPEC was already struggling to finalize a deal and with Trump, it has become all the more difficult. In fact, Trump’s surprise victory threatens to deepen a market sell-off, according to UBS Group AG. Yet the uncertainty arising from the President-Elect’s policies — from […]
Emirates Group first-half profit plunged 64 percent as the world’s biggest airline by international traffic struggled with a rising U.S. dollar and political and economic uncertainty that damped global travel and weighed on fares. Net income fell to 1.3 billion dirhams ($364 million) in the six months through September from 3.7 billion dirhams a year earlier, the Dubai-based carrier said Wednesday in a statement. Revenue rose 1 […]
As of this morning, several hours after the U.S. presidential race was called for Donald Trump, some of the tech world’s leading voices had yet to weigh in on what those results could mean for Silicon Valley in particular and innovation in general. But many news outlets are saying the impacts could be disruptive in ways that the otherwise disruption-loving tech sector might not like. Meanwhile, venture […]
Facebook is launching another Snapchat clone, a standalone ephemeral picture and video messaging app — complete with face-distorting masks– that looks almost identical to Snapchat. We’ve seen this play out before. Twice, in fact. In both instances — first with Poke, then with Slingshot — Facebook’s attempt to create a legitimate Snapchat competitor flopped. But this time Facebook is trying something different: Its new app, Flash, was […]
UAE. Low natural gas and electricity prices have created a tough competitive environment for renewable energy, but this has remarkably had little impact on the momentum of alternative energy growth, finds a new Deloitte report entitled, “Alternative Thinking 2016: Five game-changers that are powering the future of renewable energy.” The report identifies the important trends and opportunities in the renewable energy industry. It also presents “what if” […]
INTERNATIONAL. Nine out of 10 banking professionals surveyed at large U.S., European and Canadian commercial banks said their company is currently exploring the use of blockchain technology for payments, according to a new report from Accenture (NYSE: ACN). The initiatives are designed to reduce costs, speed payments, reduce errors and drive new revenues. The report – Blockchain Technology: How banks are building a real-time global payment network – […]
While Chinese truck manufacturers have invested in product quality and service in the Middle East, Western brands will need to expand their presence with high-tech trucks in the region, a report said. Now is an outstanding time to rebuild market presence in the Middle East, as structural shifts directly play to the advantage of high-quality truck manufacturers, said the new study entitled “The Truck Industry in the […]
The reality today is that most enterprise applications are well on their way to being cloud based. We’ve seen it with simple workloads such as HR and payroll, travel and expense management, and in the last decade we’ve seen the cloud as the new normal for customer relationship management (CRM) deployments. In fact, a recent Gartner report predicts that the public cloud services market in the Mena […]
|By Arabian Post Staff|Emaar Malls recorded a net profit of AED 1.42 billion during the first nine months (January to September) of 2016, an increase of 16 per cent over the same period last year at AED 1.22 billion. The total revenue for the first nine months of the year was AED 2.39 billion, which is 10 per cent higher than the revenue of AED 2.17 billion […]
|By Matein Khalid| The fall in oil prices since 2014 has triggered a liquidity crunch and higher funding costs in the UAE banking system. EIBOR is almost double the London interbank rate LIBOR. Non-performing loan (NPL) have begun to rise as property prices have fallen 20% from their peak and corporate/SME borrowers are hit by a sharp downturn in the business cycle. DIB shares reflect these macro […]
|By Arabian Post Staff| The three-month Saudi Interbank Offered Rate, or Saibor, used as a benchmark to price loans, has climbed 15 successive months to the highest in seven years, Bloomberg reported. It gained 84 basis points this year to 2.385 percent on Sunday, compared with a 27 basis-point advance in the London Interbank Offered Rate for dollars. Meanwhile, the loans-to-deposit ratio among Saudi banks, a key measure of […]
|By Arabian Post Staff| The Dubai Islamic Economy Development Centre is in the process of developing a National Bonds Sukuk Trading Platform, which uses assets in the local economy to structure Shariah-compliant consumer financing. This is pat of the initiative to develop new strategies to meet the liquidity management and personal financing needs of Islamic banks and Islamic windows at conventional banks. These products are expected to […]
By Sankalp Phartiyal and Anya George Tharakan | MUMBAI/BENGALURU MUMBAI/BENGALURU Infosys Ltd cut its annual revenue growth target for the second time in three months as India’s software service exporters feel the pinch of major Western clients holding back on spending as they wait to see how November’s U.S. presidential election and Europe’s Brexit drama play out. While it reported second-quarter net profit grew 6.1 percent, the […]
HP Inc. expects to lay off between 3,000 and 4,000 employees in the next three years amid slumping demand for its products, the company said Thursday. The layoffs come one year after HP Inc., the manufacturer of printers, laptops and personal computers, was spun off from Hewlett-Packard in Silicon Valley’s biggest corporate breakup. The other company in the split, HP Enterprise, provides data center technology and business […]
|By Matein Khalid| The Algiers pact was a game changer in the international oil markets. Crude oil prices have risen to three month highs above $50 Brent after OPEC agreed to cut output to the 32.5 – 33 MBD range, with the symbolic Saudi-Iranian deal reinforced by a sharp drop in US inventories and Hurricane Matthew’s havoc in the Caribbean. Unfortunately for OPEC, the US land rig […]
By Mai Nguyen and My Pham | HANOI HANOI Samsung Vietnam will maintain its current staff numbers and its exports target this year, the firm said on Wednesday, despite the parent company scrapping its flagship Galaxy Note 7 phone following a series of battery fires. Samsung Electronics, which employs around 110,000 people in Vietnam, finally pulled the plug on the new Note 7 phone on Tuesday, less […]
By Greg Roumeliotis and Liana B. Baker Salesforce.com Inc (CRM.N) is still deliberating whether it should make an offer for Twitter Inc (TWTR.N) in the face of resistance from Salesforce shareholders over the strategic merits and valuation of such a deal, people familiar with the matter said on Monday. Twitter shares have lost as much as a third of their value since Oct. 5 on concerns the […]
Apple Inc. is reportedly planning to open its first research and development center in China, allowing the tech giant to extend its reach in a vital market and maintain goodwill with the Chinese government. The Cupertino tech giant will eventually invest 300 million yuan, or $45 million, in the facility, which will have 500 employees, according to the state-run China Daily newspaper. Zhongguancun Science Park, a Beijing […]
Enterprises will soon be able to speed their Ethernet networks by up to five times their current speeds without having to replace their existing infrastructures thanks to a new networking standard announced this week. The standard, officially known as IEEE 802.3bz, defines 2.5 and 5 Gigabit Ethernet speeds over the existing installed base of twisted pair copper cabling. The new networking protocol will help companies continue to […]
UAE-based telecommunications service provider du has demonstrated e-SIM for the first time in the Middle East, in collaboration with Gemalto, a world leader in digital security. The e-SIM initiative will enable du’s subscribers to activate the e-SIM on any device over the air. This will allow for an enhanced user experience in a new era of technology adoption that supports multi-device usage – such as smart watch, […]
