|By Matein Khalid|Dr. Mervyn King broke with tradition by publishing his book “The End of Alchemy: money, banking and the future of the global economy”. After all, retired governors of the Bank of England do not, as a rule, do not write/publish books, let alone write books that lambast the City of London’s culture of greed and hubris. It is no coincidence that Dr. King quotes T.S. […]
LEBANON. Byblos Bank issued today the results of the Byblos Bank Real Estate Demand Index for the first quarter of 2016. The results show that the Byblos Bank Real Estate Demand Index posted a monthly average of 42.5 points in the first quarter of 2016, representing a decrease of 12.5% from 48.5 points in the fourth quarter of 2015. The results constitute the ninth steepest quarter-on-quarter decline […]
SAUDI ARABIA. According to a new report by The Boston Consulting Group (BCG), the digital age has ushered in a number of trends that have transformed the media consumption habits of each Saudi generation profoundly – and vastly differently. In parallel, with information and connectivity available at everyone’s fingertips – anywhere, anytime – the Kingdom’s traditional media landscape has, in recent years, been disrupted. The findings presented […]
Ali was the most thrilling if not the best heavyweight ever, but he was more than the sum of his athletic gifts Ali faces the media at the US federal court in June 1967, while on trial for refusing to be inducted into the armed forces. New York: Muhammad Ali, the three-time world heavyweight boxing champion who helped define his turbulent times as the most charismatic […]
Saudi Arabia’s sovereign wealth fund made its highest-profile deal, investing $3.5 billion in U.S. ride-share company Uber Technologies Inc. as the country seeks to diversify its assets with more overseas acquisitions. Yasir Alrumayyan, managing director of the Public Investment Fund, will take a board seat at the San Francisco-based company after the deal, which values Uber at $62.5 billion, the company said in a statement. It’s the biggest […]
INTERNATIONAL. –(BUSINESS WIRE)–Shifting power relationships in the Middle East are reordering regional geopolitics, entrenching a stalemate of conflict that threatens to further destabilize the region. Wars in Syria and Yemen and against the Islamic State, combined with the balancing of supply and demand in oil markets later this year, will likely return a risk premium to oil prices in 2017, says a new special report by IHS […]
The company logo is shown at the headquarters of Oracle Corporation in Redwood City, California, February 2, 2010. Reuters/Robert Galbraith/Files Oracle Corp was sued on Wednesday by a former senior finance manager who claimed she was terminated in retaliation for complaining about improper accounting practices in Oracle’s cloud services business. Shares of Oracle fell about 2.6 percent to $39.23 in after-hours trading. In a complaint filed in […]
Advanced economies must take emerging economies into confidence to get desired results The 2008 financial crisis cast a deep shadow over the recent G7 annual meeting, which kept trying to come up with solutions that could lead to the desired economic results. Over the past eight years, they have been making every possible effort to find practical solutions and bring back growth. Unfortunately, their efforts […]
A Bitcoin (virtual currency) paper wallet with QR codes and a coin are seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, May 27, 2015. Reuters/Benoit Tessier/File Photo LONDON The price of the web-based digital currency bitcoin soared to its highest in almost two years on Tuesday, rising to more than $500 per unit, as worries about a further weakening of the […]
In the world of Harry Potter the young wizard undergoes two magical biological transformations: eating Gillyweed to grow gills in order to breathe underwater and drinking Skele-Gro to repair broken bones. Natural Sciences students from the University of Leicester have put these arcane medical practices to the test — and have concluded that a little magic might indeed be required in both situations to make them scientifically […]
MUMBAI India’s biggest conglomerate Tata Group launched an ecommerce venture on Friday, as it seeks to cash in on rising purchasing power in a market dominated by deep-pocketed international retailers and startups backed by global tech investors. The group said it developed its Tata Cliq website over a year and a half at a cost of “several hundred million dollars” to be a marketplace for inhouse and […]
|By Matein Khalid| In retrospect, 2016 will go down in German political and economic history as a significant game changer, on the scale of 1989 (fall of the Berlin Wall), 1990 (reunification) and 1999 (the Euro), even 1945 (launch of Deutschemark), 1945 (Third Reich surrenders), 1943 (Stalingrad) and 1933 (Hitler elected). Chancellor Merkel, renamed Mutti Multi kulti, allowed a million migrants to settle in Germany. The far right […]
|By Arabian Post Staff| The overall tourism spend by visitors to the UAE declined by 6% in the first quarter of 2016, according to a report on consumer card spends by Network International, the leading payment solutions provider in the MENA region. Due to a continuous appreciation in the US Dollar along with a bullish global economic outlook and a fall in the prices of crude oil, […]
Dubai: Dubai Parks and Resorts said on Tuesday its Dh1.68 billion rights issue was oversubscribed 1,25 times at the end of trading on May 23, underlining strong investor support. Total subscription as at close of May 23 amounted to Dh2.1 billion, the company said in a statement. The rights issue is intended to primarily finance the development of Six Flags Dubai, […]
Having conversations on Twitter will become easier as the microblogging site rolls out some changes to how tweets work over the next few months, the company announced today. The most significant change carves out several new exceptions to what information counts toward Twitter’s long-established 140-character tweet limit. Attachments like photos, GIFs, polls, videos and quote tweets will no longer be included within that limit, nor will the […]
|By Arabian Post Staff| Emirates Islamic announced the successful closure of its US$ 750 million 5-year Sukuk from its US$ 2.5 billion Certificate Issuance Programme. The issue, which will be listed on NASDAQ Dubai and the Irish Stock Exchange, received overwhelming investor interest from across the globe and marked the Bank’s return to the international debt capital markets after a period of four years. In September 2015, […]
YISHUV HADAAT, West Bank — With shoulder-length hair tumbling from beneath his knit skullcap, Hanamel Dorfman, a radical young Israeli settler, explains matter-of-factly on camera how hilltop settlement outposts like his own will continue to proliferate across the West Bank. From there, he says bluntly, Israelis will cross the Jordan River and start building on the other side. Reminded that beyond the river there is another sovereign […]
INTERNATIONAL. Global inclusion in the internet could bring seven percent of the world’s population – 500 million people – above absolute poverty levels, and add US$6.7 trillion (£4.6 trillion) to global economic output, according to a new study by Strategy&, PwC’s strategy consulting business. The study, for Facebook, encompassed 120 countries over a 10-year period and examines how barriers to accessing the internet could be removed, and […]
NEW DELHI/MUMBAI Apple Inc chief Tim Cook met Prime Minister Narendra Modi on Saturday, concluding a four-day trip to India that could set the stage for Apple’s expansion plans in one of the world’s fastest growing smartphone markets. Modi and Cook met for an hour in central Delhi and discussed Apple’s plans for its India business, including the possibility of manufacturing and retailing in the country. Apple […]
Spotting native alligators and crocodiles in Florida is common, but anyone who sees a large reptile may want to take a second look — human-eaters that can grow to 18 feet long and weigh as much as a small car have been found in the Sunshine State. Using DNA analysis, University of Florida researchers have confirmed the capture of multiple Nile crocodiles in the wild. The ancient […]
|By Matein Khalid| If ever there was a year to win or lose money big time in emerging markets, 2016 was it. As an investor in the world’s dark alleys (the Third World rebranded as EM!), I am forced to dissect geopolitical, government/monetary policy, foreign exchange, flows, positioning and current account, volatility and credit cycle trends across emerging markets to develop money making strategies. It helps that I […]
Since shortly after Twitter launched in 2006, users of the microblogging site have generally been limited to tweets of no more than 140 characters each. However, the company is reportedly considering a change to eliminate images and links from that limit. The length restriction on tweets made sense in the pre-smartphone era, when SMS text messages had to abide by similar limits. But today’s much more powerful […]
