Gold fell, heading for its largest monthly decline in two years, as the Federal Reserve moved closer to boosting US interest rates for the first time since 2006. While Fed policy makers refrained from signaling the timing of a rate rise after a two-day meeting, they described job gains as solid amid an improving economy, according to a statement Wednesday. The market expects a move as early […]
Hogan…focused on creating new experiences Consumer choice, innovation ‘key drivers of aviation sector’ ORLANDO, 1 days ago Consumer choice and innovation are the fundamental drivers of competition in the international airline industry, said Etihad Airways president and CEO James Hogan at the 2015 Global Business Travel Association (GBTA) Convention in Orlando, Florida (US). In a discussion, which focused on emerging opportunities and challenges in the global aviation industry, […]
|By Matein Khalid|So Pearson PLC has sold the FT Group (with its flagship Financial Times newspaper) to Japan’s Nikkei Inc for $1.32 billion. Pearson will use the cash proceeds to increase its investment in education publishing businesses in the US and Canada, now 75% of revenues. This deal is a milestone in the history of newspaper publishing and my own life as an investor/financial journalist. I discovered […]
|By TAP Staff| Some 5,200 rooms are expected to be added to the Abu Dhabi hotel sector by 2017. Of this, 2,300 rooms are set to enter the market by the end of 2015 alone, according to a report by JLL. The Abu Dhabi Tourism and Culture Authority (ADTCA) also report a 20% increase in hotel guests in the first quarter of 2015 compared to Q1 figures […]
UAE. A recent qualitative report sponsored by Citi and conducted by Nielsen, a leading global provider of information and insights into what consumers watch and buy, studied the personality of HNWI in the UAE. The results of the research revealed the different needs that they believe are impacting their disposition towards wealth management and analyzed their attitudes towards investments. The participants were represented by a small group […]
Mena lagging in adopting cyber security policies BEIRUT, 1 days ago Despite the current global focus on cyber security issues including hacking, data losses, breaches and other information leaks, organizations in the Mena region still do not have formal cyber security initiatives in place, a report said. In keeping with international trends, managing Compliance Risk remains a high priority for organizations across Mena region, explained the Middle […]
|By K Raveendran| The deregulation of fuel prices in the UAE is no doubt a highly opportunistic move in the sense that the current oil price levels support market-driven pricing. But a major factor that prompted the decision is believed to be the recommendations of IMF. The UAE Ministry of Energy recently announced that domestic gasoline and diesel prices would be deregulated starting from 1 August 2015. […]
|By TAP Staff| Dubai residential rents declined by 3% during the second quarter of 2015, according to the latest ADIB/MPM Properties Real Estate report. This comes amongst a surge in supply as 6,750 new residential units were delivered this quarter, taking the total Dubai residential stock to 479,000 units. The majority of the new supply was added along the Sheikh Mohammed Bin Zayed road, with the International […]
ABU DHABI // Newly-published statistics from Statistics Centre – Abu Dhabi (Scad) show that the population of the emirate is 133 times what it was in 1960. From that year until 2014, the population grew at an average rate of 9.5 per cent, which is one of the highest rates of growth in the world, state news agency Wam reported. During that time, the total population of […]
INTERNATIONAL. On the eve of U.S. President Barack Obama’s visit to Kenya for the Global Entrepreneurship Summit, GeoPoll, the Global Entrepreneurship Network and the U.S. State Department released a survey of 1,000 business owners throughout sub-Saharan Africa on entrepreneurship in their countries. GeoPoll surveyed 200 entrepreneurs per country in the Democratic Republic of Congo, Ghana, Kenya, Nigeria, and South Africa, asking them what resources are most needed […]
UAE. Women are just as likely as men to find employment in small and medium-sized businesses in the UAE, according to the latest research by business intelligence company MEED. Of the more than top 50 SMEs in the Emirates which participated in the study, 50 per cent said they employ an equal number of women and men in their organisations. About 40 per cent even reported having […]
REUTERS – Amazon.com Inc’s shares surged more than 20 percent in early trading on Friday, adding more than $46 billion to the company’s market value, after strong growth in the e-commerce giant’s cloud business drove a surprise quarterly profit. The company’s market capitalization soared to more than $270 billion, overtaking that of Wal-Mart Stores, the world’s biggest retailer. Revenue from Amazon’s cloud operations – Amazon Web Services […]
A surge in shares of Amlak Finance since they returned to Dubai’s stock market last month has raised concerns about a new wave of unbridled speculation on one of the region’s biggest exchanges. The Islamic mortgage lender has soared about 150 percent since it restarted trading in early June after a six-year suspension due to debt problems. At its latest close of 2.52 dirhams, the stock is […]
An AT&T Logo is pictured on the side of a building in Pasadena, California, January 26, 2015. Reuters/Mario Anzuoni WASHINGTON The No. 2 U.S. wireless carrier AT&T Inc (T.N) and the biggest satellite-TV provider DirecTV (DTV.O) became the country’s largest pay-TV company on Friday, completing their $48.5 billion merger after receiving final regulatory approval. The newly expanded AT&T leapfrogs the biggest U.S. cable company Comcast Corp (CMCSA.O). […]
Shepherding livestock in the West Bank village of Susiya. Residents have been displaced three times in the last 30 years and are faced with ejection once again. By DIAA HADID July 23, 2015 SUSIYA, West Bank — Yousef Nawajaa strode between the tents bedecked with Palestinian flags, scattered through parched orchards and rocky hills, shouting delightedly to a man nearby: “Hey, did you hear? John Kerry spoke about Susiya!” […]
A zoomed image of a computer screen showing the Amazon logo is seen in Vienna November 26, 2012. To match Special Report TAX-AMAZON/ Reuters/Heinz-Peter Bader Amazon.com Inc (AMZN.O) swung to an unexpected quarterly profit on higher sales in North America, its popular Prime subscription service and growing demand for its Web services, sending the online retailer’s shares up more than 17 percent. Amazon also forecast third-quarter revenue […]
MUMBAI With only a tiny share of the world’s fastest-growing major smartphone market, Apple Inc (AAPL.O) is stepping up its push into India, with a first targeted TV advertising campaign, expanded retail network and promotional financing schemes. For years, India has been a low priority for Apple as spending power is weaker than in China, where the company’s iPhones swiftly became must-have devices after their 2007 launch. […]
UAE. Wermuth Asset Management has announced its expectation that, given the availability of solar power at $4 cents/kWh, a price with which crude oil could only compete if offered below $7/barrel, the ‘carbon bubble’ will burst and that it will have profound implications for the Middle East’s oil producing countries, global financial markets and the world economy. If COP21 leaders this year commit to a global 2⁰C […]
UAE. The current shortage of middle income housing is one of the greatest challenges facing the real estate industry in the Middle East, said Craig Plumb, Head of Research at JLL MENA. “With a shortage of housing for those families earning salaries around the UAE average, it is important that we address some of the best practice initiatives and developments that have been launched in the Emirates, […]
