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, […]
Apple Inc. shares tumbled, wiping out $32 billion in market value, after disappointing iPhone sales rekindled concerns over whether the company can keep making must-have products. Even though iPhone sales climbed 35 percent to 47.5 million units in the fiscal third quarter, the result fell short of the 48.8 million shipments projected by analysts. That, plus a revenue forecast for the current period that missed estimates, on […]
An Apple iPhone 6 is seen on display at the Apple store on 5th Avenue in the Manhattan borough of New York City, July 21, 2015. Reuters/Mike Segar Forget that iPhone unit sales were not as strong as many had expected; that the revenue forecast fell short of the average estimate, and that there was no clarity on Apple Watch sales. Analysts, for the most part, remain […]
DUBAI // Dozens of athletes and celebrities took part in the Dubai Sports Council’s initiative for orphans in the emirate. More than 100 children between the ages of seven and 16 were given the opportunity to play with professional athletes, most of whom volunteered to take part in the event during their off seasons. The event took place at Dubai Sports World at the World Trade Centre. […]
JIDDA, Saudi Arabia — Defense Secretary Ashton B. Carter gave a surprisingly upbeat assessment on Wednesday of American relations with Saudi Arabia, asserting that the kingdom welcomed the international nuclear deal reached with its regional rival, Iran. Mr. Carter, who visited Jidda and held his first meeting with King Salman, also said the Saudi monarch would visit the United States this fall and is committed to fighting […]
ABU DHABI // The family of a man who died after undergoing surgery at a hospital in Al Ain will have to wait to find out how much compensation they are entitled to. Before his death, the man sued Tawam Hospital in Al Ain for Dh7million in 2013, alleging an unqualified surgeon, W H, botched a bladder operation, leaving him with a clogged artery and intestinal gangrene. He […]
The rout in commodities deepened with prices touching the lowest since 2002 as the prospect of higher U.S. interest rates sent gold tumbling. Raw materials are losing favor with investors as the dollar gains amid signals from Federal Reserve Chair Janet Yellen that the central bank may raise rates this year on the back of an improving U.S. economy. Higher borrowing costs curb the attractiveness of commodities […]
Crude slumped below $50 a barrel in New York for the first time in more than three months on speculation that Iranian shipments will climb, extending a global glut. West Texas Intermediate decreased as much as 1.9 percent. Iran will focus on regaining oil sales it lost due to sanctions regardless of the impact on prices, Oil Minister Bijan Namdar Zanganeh said in Tehran Monday. U.S. crude […]
HUSSEIN LOOKOUT, Israel — The Obama administration opened its Middle East reassurance tour on Monday with the secretary of defense, Ashton B. Carter, promising Israeli officials that the United States would remain vigilant in trying to combat what he called “Iran’s malign influence” in the region despite the nuclear deal struck last week among Tehran and six world powers. To make his point, Mr. Carter let Israeli […]
WASHINGTON — The Islamic State’s reclusive leader has empowered his inner circle of deputies as well as regional commanders in Syria and Iraq with wide-ranging authority, a plan to ensure that if he or other top figures are killed, the organization will quickly adapt and continue fighting, American and Iraqi intelligence officials say. The officials say the leader, Abu Bakr al-Baghdadi, delegates authority to his cabinet, or […]
UNITED NATIONS — The United Nations Security Council on Monday unanimously approved a resolution that creates the basis for international economic sanctions against Iran to be lifted, a move that incited a furious reaction in Israel and potentially sets up an angry showdown in Congress. The 15-0 vote for approval of the resolution — 104 pages long including annexes and lists — was written in Vienna by […]
Intel Q2 revenue drops 4pc to $13bn NEW YORK, 3 days ago Intel Corp reported that its net revenue fell 4.6 per cent to $13.19 billion during the second quarter of the year, edging past the average analyst estimate of $13.04 billion. Growth in the company’s data centers and Internet-of-Things businesses helped offset weak demand for personal computers that use the company’s chips. Shares of the world’s […]
The prime minister of Israel, Benjamin Netanyahu, responded to the Iran deal as expected: It is bad, endangers Israel, he argued; we are against it and will be the only American ally not only to oppose it, but to go down gloriously, fighting a battle in Congress that we are destined to lose. Mr. Netanyahu often warns that Iran is like Nazi Germany in 1938, fooling naïve […]
|By TAP Staff| With the nuclear deal between Iran and the world powers complete, American business interests are looking for opportunities. But before all the sanctions are lifted, U.S. and global businesses will have to clear plenty of hurdles before they begin investing in and selling to Iran, Voice of America said. The agreement, which puts strict limits on Iran’s nuclear development for 10 years, calls for […]
BEIRUT, Lebanon — The security forces in Saudi Arabia have carried out a nationwide dragnet in recent months that resulted in the arrest of more than 400 people believed to be connected to the Islamic State jihadist group, the Saudi Interior Ministry said on Saturday. The people who were arrested were linked to recent attacks inside the kingdom; they planned attacks or monitored potential targets, or used […]
ABU DHABI // It has gone so fast – and so far, so good. It’s already the third anniversary of work starting on the UAE’s first nuclear power plant at Barakah, near the border with Saudi Arabia. And it is still on budget and set to go live in late 2017, ultimately providing a quarter of the Emirates’ energy needs. But becoming the first new member to […]
Google Inc’s (GOOGL.O) shares soared as much as 16.8 percent on Friday, crossing the $700 mark and adding nearly $68 billion to its market value, as strong growth in YouTube viewership allayed concerns about Facebook Inc’s (FB.O) push into video. The stock’s surge, which sent the Nasdaq composite index to a record intraday high, came a day after Google reported better-than-expected profit for the first time in […]
INTERNATIONAL. Global investors have raised their holdings of cash significantly in response to a weaker global economic outlook, particularly in China, according to the BofA Merrill Lynch Fund Manager Survey for July. Overall, equity allocations are unaffected by the higher risk aversion, however. • Confidence in the global economy falls sharply: 42percent of investors expect strengthening over next year, down from 55 percent a month ago.• China heads concerns: […]
UAE. Retailers in the UAE experience some of the best conditions in the world in which to operate in, benefitting from a strong quality of infrastructure and a robust economic environment, says Arcadis in its Retail Operation Index. The UAE ranks eighth place in the overall rankings and first place in the Middle East, while quality of transportation and ease of getting up-and-running is holding many other […]
Relatives of three Americans imprisoned in Iran expressed optimism on Wednesday that the nuclear agreement reached in Vienna had removed a significant political obstacle to the United States government’s efforts to secure their release. But the relatives also said they had received no specific indications that anything had changed, tempering their excitement. “We obviously hope that this is moving on, and now we can see some movement,” […]
VIENNA — One by one, the roadblocks to a nuclear accord between Iran and the United States had been painstakingly cleared. But as the negotiations went into their third week in the neoclassical Coburg Palace hotel this month, a major dispute lingered over whether a ban on Iran’s ability to purchase conventional weapons and missile technology would remain in place. The American delegation, led by Secretary of […]
DUBAI // For decades, Dubai Creek has been a hub of activity as traders bring in goods and sell their wares at the bustling markets nearby. Even today, laden dhows can be seen unloading items to be sold at the Spice Market, on the Deira side of the saltwater Creek, and other souqs around the city. Most of these dhows’ captains are Bangladeshis and Pakistanis but, in […]
A man looks at a smartphone at the Intel booth during the 2015 Computex exhibition at the TWTC Nangang exhibition hall in Taipei, Taiwan, June 2, 2015. Reuters/Pichi Chuang Intel Corp (INTC.O) reported better-than-expected quarterly results on Wednesday as growth in its data centres and Internet-of-Things businesses helped offset weak demand for personal computers that use the company’s chips. Shares of the world’s largest chipmaker, which also […]
WASHINGTON — President Obama on Wednesday urged lawmakers to support the nuclear deal reached with Iran, saying that failure to put it into effect would increase the likelihood of war in the Middle East and accelerate a nuclear arms race in the region that would threaten the safety of the United States. “That’s the choice that we face,” Mr. Obama said in opening comments at a news […]
