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Pakistani volunteers tried to identify the bodies of some of the 22 people killed Friday night in attacks in Baluchistan. By SALMAN MASOOD and ZIA ur-REHMAN May 30, 2015 ISLAMABAD, Pakistan — Tensions were running high on Saturday in southwestern Pakistan after dozens of heavily armed gunmen, wearing the uniforms of security forces, stopped two buses, singled out ethnic Pashtuns and fatally shot at least 22 of them on Friday night. […]

UAE.  The depressed oil prices predominant since late last year could herald a lasting trend if, as evidence suggests, we are now facing the low-price segment of an oil ‘super cycle’, according to the latest paper from global strategy and management consulting firm A.T. Kearney. This new situation would pose both challenges and opportunities to Middle East companies and countries. There is still much volatility in the […]

UAE. Etihad Airways, the national airline of the United Arab Emirates, achieved its strongest financial results to date in 2014, posting a net profit of US$ 73 million on total revenues of US$ 7.6 billion, up 52.1 per cent and 26.7 per cent respectively over the previous year. 2014 PEFORMANCE SUMMARY OF ETIHAD AIRWAYS *The above results represent the standalone airline business within the newly formed Etihad […]

Mena M&A value rises 9pc to $8.9bn in Q1 DUBAI, 23 days ago Announced deal value in Mena increased to $8.9 billion in the first quarter (Q1) of 2015 from $8.2 billion during the same period last year, marking an increase of 9 per cent, a report said. In Q1 2015, 90 deals were announced as compared with 89 deals in Q1 2014, according to the Q1 […]

A worker adjusts the logo at the stand of Huawei at the CeBIT trade fair in Hanover March 15, 2015. Reuters/Morris Mac Matzen/Files BANGKOK China’s Huawei Technologies, the world’s No. 2 telecom equipment maker, expects total shipments of smartphones in southeast Asia to rise 160 percent to 8 million units in 2015, boosted by strong demand in Myanmar, it said on Thursday. In the first quarter, Huawei […]

Travel tech firm moves to Microsoft Azure cloud technology DUBAI, 22 days ago Microsoft has signed a strategic deal with Illusions, a Dubai-based travel tech firm, to support the transfer of the company’s entire business operating platform onto Microsoft’s cloud technology, Azure, an initiative aimed at enhancing productivity and client satisfaction. The move to Azure will incorporate the existing system on which Illusions operates to provide services […]

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Derek Donahue ….. Satcom EEMEA region’s regional director Satcom Direct appoints new regional director DUBAI, 22 days ago Satcom Direct, the leading provider of satellite voice and broadband data solutions for flight deck and cabin communications, has appointed Derek Donahue as its regional director for the Eastern Europe, Middle East and Africa (EEMEA) region. Currently based in the Dubai office, Donahue’s new role has him managing the […]

UAE. Fifty-seven percent of global financial services executives believe regulation has enabled growth of their business, according to the results of Deloitte’s Staying Ahead of the Pack survey.  In addition, half of executives expect much more regulation in the near future, with 69 percent feeling prepared for it. The survey of 200 executives at banking, securities, insurance and investment management firms around the world was conducted to […]

ABU DHABI // The Mohammed bin Rashid Space Centre will send students to American universities this summer as part of the UAE’s Mars Mission Hope. They will undergo an intensive programme in space sciences at the University of California, Berkeley, and the University of Colorado Boulder that will help them along a career path as Emirati scientists and engineers. “We don’t have a proper career path for […]

We all know the Internet has revolutionized civilization, but have you ever stopped to think just how much it has changed your life over the past 15 years — and what the future may hold? The International Telecommunications Union (ITU) reports unprecedented growth in information and communications technologies (ICTs) since 2000. Here are some mind boggling statistic from the latest ITU report: there are over 7 billion […]

JORDAN.  Technology will be a “game changer” in tackling youth unemployment in the Middle East and North Africa’s emerging Digital Economy, but only if the government, private, and people sectors collaborate effectively, according to a new report released on the eve of the World Economic Forum on the Middle East and North Africa (MENA) 2015. The report “Re-Dynamizing the Job Machine: Technology-Driven Transformation of Labor Markets in […]

|By TAP Staff| Qatar currently has an estimated US$220 billion worth of projects in the pipeline. This new work is already positively impacting the interiors and fit-out market across all major sectors and there are no signs of this rapid growth slowing. The Qatar interiors and fit-out market had an estimated value over US$800 million during 2014, with some studies expecting the value to have doubled by […]

A box from Amazon.com is pictured on the porch of a house in Golden, Colorado July 23, 2008. Reuters/Rick Wilking/Files NEW YORK Amazon.com Inc has started booking revenue from retail sales in individual European countries, instead of channeling all sales through low-tax Luxembourg, the Wall Street Journal reported Sunday. The change was made effective May 1, a company spokesman told the Journal. Amazon said it had started […]

By TAP Staff|Arcapita, the global investment management firm, announcedthe completion of the sale of J.Jill Group Inc., a leading US-based multi-channel retailer of women’s apparel, accessories and footwear, to TowerBrook Capital Partners L.P., a New York and London-based investment management firm. The parties did not disclose the transaction value. Originally founded in 1959 and headquartered in Quincy, Massachusetts, J.Jill provides inspired styles to its loyal customer through […]

About 6.6 babies die per 1,000 live births in Washington. Washington world’s most dangerous city for babies KAMPALA, 16 days ago Washington has the highest infant mortality rate of all the world’s richest capitals, according to a survey highlighting the failure of the world’s wealthiest country to prevent high rates of child deaths among its poorest citizens. Save the Children said in a study on Tuesday that […]

UAE. The findings of a new study by The Boston Consulting Group (BCG), a global management consulting firm and the world’s leading advisor on business strategy, shows that mobile technologies are creating immense value for consumers – value that greatly exceeds the costs of owning a mobile device. In fact, consumers worldwide value mobile technologies at 11 to 45 percent of their income – well above what […]

UAE. Landmark real estate regulatory changes including the UAE-wide Federal Mortgage Cap and Dubai’s doubling of Property Registration Fees last year, which was aimed at curbing speculative activity, have together gradually and successfully contained a market that was in danger of overheating with the level of transactional activity now dramatically reduced, according to latest research released by international real estate consultancy Cluttons.   Cluttons Spring 2015 Dubai Residential […]

MUMBAI Indian e-commerce firms are offering funding help and tech support to woo small retailers, emulating a strategy used by Chinese online retail giant Alibaba Group Holding Ltd to expand into the towns and villages home to the majority of consumers. India’s biggest e-tailers such as Flipkart, Snapdeal and the local arm of Amazon.com Inc are online marketplaces, with commission from sellers accounting for the bulk of […]

|Special by TAP Staff| RERA’s Rent Index system continues to be unrealistic as it fails to factor in variables such as views, size of units, age of the building, and this might may trigger a period of ‘off-grid’ deals, where landlords and tenants agree to rents that are not in sync with RERA’s recommendations, property consultants Cluttons has predicted. The Cluttons’ report highlights that with supply levels […]

|By TAP Staff| Emaar Properties announced its intention to list its Egyptian subsidiary Emaar Misr for Development to proceed with an IPO, which will be listed on the Egyptian Stock Exchange. The offer will comprise a part meant for retail investors in Egypt, and a private placement to institutional investors. Emaar Misr plans to use the net proceeds raised from the offering to further the development of […]

|Special byTAP Staff|Abu Dhabi-based Aabar Investments is expected to reap rich dividends from its involvement with Mongolia’s coal industry in the wake of a landmark mining deal concluded recently. Aabar Investments has been the largest UAE investor in Mongolia since 2011 through its investment into Gobi Coal & Energy Ltd, which has been credited with the discovery of the massive Oyu Tolgoi project. Its two main projects, […]

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