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 […]
NEW YORK Billionaire activist investor Carl Icahn said Thursday that mutual funds will increasingly realise that being underweight shares of Apple (AAPL.O) will hurt their performance as the technology giant continues to innovate. “They are underweight Apple in relation to the index funds, and I think more and more of these funds will realise that’s going to hurt their performance in the future as Apple continues to […]
MOSCOW/FRANKFURT Russia’s media watchdog has written to Google, Twitter and Facebook warning them against violating Russian Internet laws and a spokesman said on Thursday they risk being blocked if they do not comply with the rules. Roskomnadzor said it had sent letters this week to the three U.S.-based Internet firms asking them to comply with Internet laws which critics of President Vladimir Putin have decried as censorship. […]
Sepp Blatter, the FIFA president, center, with Ofer Eini, head of the Israeli soccer association, left, in Jerusalem on Tuesday. By JODI RUDOREN May 19, 2015 RAMALLAH, West Bank — The Palestinian grievances against Israel are familiar ones: hampering travel, blocking import of equipment, rampant racism and the treatment of settlements in the occupied West Bank. The Israeli response is also a repeat: security concerns, mostly. But this round […]
Slide Show | The Ancient Syrian City of Palmyra Islamic State militants have destroyed historical sites and sold off artifacts in other cities, and some fear they may do the same in Palmyra. By ANNE BARNARD and HWAIDA SAAD May 20, 2015 BEIRUT, Lebanon — Islamic State militants swept into the historic desert city of Palmyra in central Syria on Wednesday, and by evening were in control of it, residents and […]
|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, […]
|By TAP Staff| Oil is poised to slump to $45 US a barrel by October as a surplus of crude and producers’ easy access to cash weigh on the market, according to Goldman Sachs Group Inc. A recovery in prices to near $60 a barrel from a six-year low in March is premature, analysts including Jeffrey Currie said in an e-mailed report dated May 18. The availability […]
|TAP Special| Faced with a continued upswing in capacity creation, Dubai hospitality sector is under pressure and is forced to continuously make price adjustments to remain competitive. This has already meant lower revenues, posing a question mark over the hotel sector’s performance. According to the latest Hotel Intelligence report of JLL, performance of the hospitality sector in Dubai is expected to remain under pressure this year. This […]
|By TAP Staff| RP Global – part of RP Group of Companies, a global business conglomerate with an annual turnover of over US$4 billion – made its entry into the Dubai real estate market by breaking ground on its new multi-storey residential tower project RP Heights. RP Global will initially develop two prestigious projects in the heart of the city with a total development value of over […]
|TAP Special| US airlines companies hired secret accountants to unearth how Gulf governments subsidized their airlines, including Emirates, Etihad and Qatar Airways, western media has reported. As the battle intensifies over U.S. airlines’ allegations of unfair state subsidies to three Persian Gulf rivals, American carriers have been gathering data to support their claims sheds light on the vast financial reporting divide between the two sides. The U.S. […]
Most major Gulf stock markets, led by Dubai, rose on Sunday after the Brent oil price hit a 4-1/2-month high, while the bourse of energy importer Egypt closed in the red. Brent crude climbed to $65.80 a barrel on Friday because of continued fighting in Yemen and, although U.S. crude fell on concerns about another upcoming stock build, both benchmarks posted weekly gains. The main Saudi equities […]
Plunging iron ore prices are providing a lifeline for some of China’s biggest steel mills, but raising the prospect of a rising tide of exports and increased friction with the European Union and countries such as India. Even as China’s domestic steel demand shrinks and the industry battles chronic overcapacity, lower iron ore prices have helped many large mills post better earnings in 2014 than a year […]
When American writer Kate Bolick was in her mid-twenties, she and her boyfriend used to go running after work, jogging through Boston in the early evening. One night, they passed a woman running behind her toddler in an all-terrain buggy. Her boyfriend smiled and said: “Look: there’s you someday.” Bolick’s stomach lurched, like in a scene from a Woody Allen: the career woman horrified by smug maternity, […]
/Marshall Hargrave/investorsalley.com/The end of Google’s reign as the king of search is near. Competitors are eating away market share and growth is sputtering. Trying to cherry-pick the next winner in search, however, is akin to rolling dice at a casino. All luck. Where investors are going to make their millions is in this red hot sector that is on the vanguard of life-saving technology that will revolutionize […]
|By TAP Staff| Oil production from the Organization of the Petroleum Exporting Countries (OPEC) totaled 30.72 million barrels per day (b/d) in March, up 800,000 b/d from February, and the highest monthly volume since November 2012, according to the latest Platts survey of OPEC and oil industry officials and analysts. In November 2012, OPEC output was estimated at 31.08 million b/d. Saudi Arabia boosted production by 280,000 […]
India has bought the first oil for its strategic petroleum reserve (SPR), trade sources said on Monday, marking the start of a round of purchases by the world’s fourth-biggest oil consumer to build up emergency stockpiles. Oil prices have almost halved in the past year due to excess global production, leaving traders looking for any signs of new demand to help absorb the surplus. The sources said […]
Brent crude oil held below $56 a barrel on Tuesday on signs of slowing growth in China and as Saudi Arabia said its production was close to an all-time high. Factory activity in China, the world’s second-largest economy and top oil importer, slipped in March with the flash HSBC/Markit Purchasing Managers’ Index (PMI) reading at 49.2, below the 50-point level that separates growth from contraction. Economists polled […]
DIFC posts 18pc growth in companies DUBAI, 23 hours, 54 minutes ago Dubai International Financial Centre, a leading financial hub connecting the Middle East, Africa and South Asia (Measa) markets with the economies of Europe, Asia and the Americas, has posted an 18 per cent growth in the number of active registered companies. More than 240 new companies were licensed during the last year, compared with 199 […]
Lloyds Banking Group and Natixis have sold their holdings in debt of Dubai World, the state-owned conglomerate nearing a $14.6 billion debt restructuring, according to sources familiar with the matter. Royal Bank of Scotland (RBS) also sold at least part of its exposure in the conglomerate, said two sources, which could mean more than $1 billion of Dubai World’s debt has changed hands. The moves help pave […]
Hundreds of foreign construction workers staged a rare public protest outside the opulent Dubai Mall on Tuesday in a pay dispute with their company, witnesses said. Dubai authorities deployed riot police to Sheikh Mohammed bin Rashid Boulevard in downtown Dubai, where the world’s tallest building is located, blocking some roads while negotiators tried to settle a dispute about overtime pay. The workers, from south Asia, said the […]
By Se Young Lee and Harro Ten Wolde SEOUL/BARCELONA Mon Mar 2, 2015 9:39am IST 1 of 5. A hostess displays the Galaxy S6 edge smartphone at the Samsung Galaxy Unpacked event before the Mobile World Congress in Barcelona March 1, 2015. Credit: Reuters/Albert Gea SEOUL/BARCELONA (Reuters) – South Korea’s Samsung Electronics Co Ltd unveiled its latest Galaxy S smartphones, featuring a slim body made from aircraft-grade […]
By DAVID D. KIRKPATRICK February 24, 2015 A Cairo court on Tuesday acquitted former President Hosni Mubarak’s longtime interior minister of the last of several criminal charges that have kept him behind bars, opening the potential for his release. The acquittal of the former minister, Habib el-Adly, is the latest in a long string of rulings since the 2013 military takeover that have exonerated former officials jailed after the Arab […]
Egypt … struggling to cope with energy demandfrom a population of 85 million Egypt aims to halt gas imports in 2020 – minister CAIRO, 11 hours, 19 minutes ago Egypt hopes to halt liquefied natural gas imports in 2020, Oil Minister Sherif Ismail said on Monday, as projects to develop its own gas fields are completed. The Arab world’s most populous nation is struggling to cope with […]
Dubai-based financial services firm Arqaam Capital has invited banks to pitch for roles in arranging its flotation on the emirate’s bourse, three banking sources aware of the matter told Reuters. Arqaam has offices in five countries in the Middle East and Africa and offers services including brokerage, asset management and corporate finance advisory. It declined to comment when contacted by Reuters. The invitation, known as a request […]
