London’s FTSE 100 stands apart as the global laggard among major stock indices with investors giving it a wide berth almost a month since the election of Donald Trump. The performance reflects concern over Brexit negotiations hurting the shares of companies exposed to the UK economy while the pound’s recent rebound against the dollar and the euro offsets the boost for resource stocks from rising crude and […]
BEIRUT, Lebanon — A court in Saudi Arabia sentenced 15 men to death on Tuesday for spying on behalf of Iran, after a trial that a Western human rights organization characterized as a “travesty of justice.” The sentences came as the sectarian and political rivalry between Saudi Arabia and Iran is fueling conflicts across the Middle East, including in Iraq, Syria and Yemen. Both Saudi Arabia, a […]
Wall Street climbed on Tuesday as telecom stalwarts AT&T and Verizon gained and bank shares added to their torrid post-election rally, helping the Dow set another record closing high. The S&P financial sector .SPSY rose nearly 1 percent, lifted by a 2.2 percent gain for Wells Fargo (WFC.N). The bank’s chief executive told an investor conference it will see a near-term profit hit because of the sharp […]
ABU DHABI // The UAE Space Agency issued the Arab world’s first national space policy in the capital on Tuesday – the first step to formulating laws for the industry. “The policy is just like a torch guiding us to where we have to go,” said Dr Mohammed Al Ahbabi, the agency’s director general. “Our space laws will have elements designed for tomorrow’s technologies and industries, such […]
A Turkish-Arab fund plans to spend up to about 300 million euros ($322 million) to redevelop a luxury seaside resort outside Greece’s capital Athens, bringing significant foreign investment into the cash-strapped country, the fund said on Tuesday. Greece concluded in October the sale of a 90 percent stake in the Astir Palace hotel complex to the Jermyn Street Real Estate Fund as part of a key privatisation […]
A man holds up his mobile phone showing a M-Pesa mobile money transaction page for the photographer at an open air market in Kibera in Kenya’s capital Nairobi (Reuters/Noor Khamis). This post features a conversation with Georgia Levenson Keohane, executive director of the Pershing Square Foundation, adjunct professor of social enterprise at Columbia Business School, and author of Capital and the Common Good: How Innovative Finance is […]
Hedge fund manager Pierre Andurand has returned almost 15 per cent this year by betting on a recovery in oil prices and he forecasts the rally has further to run after Opec’s agreement last week to cut supplies. The French founder of Andurand Capital, which has grown to be one of the world’s largest oil funds, returned 6.1 per cent in November as he positioned for crude’s […]
Image: Dropbox Dropbox on Tuesday announced the launch of Dropbox Mobile Offline Folders. The cloud-based file sharing service provider says the new premium feature will let users stay on task on their smartphones even when data and Wi-Fi is unavailable. With mobile offline folders, users can tag an entire folder to have its contents synced automatically to their phone or tablet, as opposed to marking each individual […]
“It’s something different,” Rose said recently. “Something to relax you. Something to stimulate your mind and help you out in the long term as far as clearing your mind. There’s different things you can do; I don’t take it for granted. Whenever I see those types of things, I try to focus in on it because you never know whether it gives you an advantage if you […]
By Angus McDowall , John Davison and Stephanie Nebehay | BEIRUT/GENEVA BEIRUT/GENEVA Syria’s army and allies closed in on areas near Aleppo’s Old City on Tuesday, looking closer than ever to achieving their most important victory of the five year civil war by driving rebels out of their last urban stronghold. Rebels said on Tuesday they would never abandon Aleppo, after reports that U.S. and Russian diplomats […]
Solar panels, which convert sunlight into electricity, are a key player in the fast-growing renewable energy sector, which also includes water- and wind-generated electricity The climate-friendly electricity generated by solar panels in the past 40 years has all but cancelled out the polluting energy used to produce them, a study said Tuesday. Indeed, by some calculations, the so-called “break-even point” between dirty energy input and clean output […]
DUBAI // Motorists were warned on Tuesday to be cautious on the roads this week because of poor visibility. Strong winds will cause dust and sand to blow over open areas from Wednesday to next Monday, leading to low visibility, the National Centre for Meteorology and Seismology said. Seas in the Arabian Gulf and Oman Sea will be rough to very rough, and a significant drop in […]
DUBAI // Justin Bieber will perform in Dubai in May next year, his website says. The Canadian singer is scheduled to perform at Autism Rocks Arena in Dubai on May 6, according to his website. The performance is part of his Purpose World Tour, which kicks off on Friday in New York. Other tour dates include shows in Mexico, Australia, Brazil, Denmark, Italy, France and Canada. Purpose […]
Pouncer: Next year the compay plans to demonstrate the drones being launched from a C130 Hercules cargo aircraft.” Illustration:Windhorse Aerospace A UK company is developing lightweight and edible food drones to bring supplies to hard-to-reach areas in times of disaster. The Somerset-based Windhorse Aerospace last week presented its Pouncer design to Priti Patel, the UK’s Secretary of State for International Development. The drone is nine feet wide, […]
If you set out to make a positive investment case for Italy 20 years ago, the best hope was to play down the myriad structural inefficiencies that blighted the corporate sector and argue that this was a good economy burdened by an unworkable state. Now, after years of no growth accompanied by stubbornly high public debt, a positive case looks even harder to make, especially after the […]
Good morning. Here’s our daily summary of all the media news you need to know. Want to get this briefing in your inbox every morning? Subscribe here. It’s so quaint that politicians still get pissed at the press and utter some version of Mark Twain’s, “Never pick a fight with people who buy ink by the barrel.” That was underscored again Monday by Donald Trump, who tweeted, […]
Albaddad Capital has announced plans to expand its factory space in Dubai to 500,000 sq ft to enable growth in the production of temporary buildings and relief units. Albaddad said in a statement that it expects to triple its growth during the next five years to meet the Emirati market needs and customers’ requirements in the GCC, Africa and Middle East markets, in addition to expanding into […]
By Jonathan Cable | LONDON LONDON Britain will most likely leave the European Union having signed a bilateral trade agreement, according to a Reuters poll of economists on Tuesday that also suggested there remains little chance of the country slipping into recession. Since the June 23 decision to leave the EU, Britain’s economy has performed much better than had been previously feared. The Bank of England is […]
The UAE Armed Forces is now using two of the most advanced military vehicles, which have been both designed and manufactured in the Emirates. NIMR Automotive, a subsidiary of Emirates Defence Industries Company and which has a manufacturing facility in Abu Dhabi, has introduced the N35 and the Ajban-class Special Operations Vehicle (SOV). Both were on display at the UAE’s National Day parade. The N35 is a […]
Paula Hawkins takes the plunge Into the Water It has been the publishing sensation of the past few years, so it is no surprise that news of the follow-up to Paula Hawkins’s psychological thriller The Girl on the Train made waves this week. Into the Water will be released on May 2 next year, and Hawkins shows no signs of diverting from the successful formula that has […]
A four-rotor “bunnycopter” developed at MIT’s Computer Science and Artificial Intelligence Laboratory features propellers at different heights. Credit: Jason Dorfman/MIT CSAIL This fall’s new Federal Aviation Administration regulations have made drone flight easier than ever for both companies and consumers. But what if the drones out on the market aren’t exactly what you want? A new system from MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL) is […]
InfoComm MEA Opens Today as Region’s Leading A/V Event, Showcasing Holograms, Videoboards, and Audio and Lighting Systems DUBAI, United Arab Emirates – 6 December 2016 Holograms, massive videoboards, and state-of-the-art audio and lighting displays will be among the audiovisual innovations set to make Expo 2020 in Dubai the world’s most technologically advanced event. The UAE is one of the fastest-growing professional audiovisual markets in one of […]
Ouch. Shares in spread-betters have tanked after the Financial Conduct Authority announced a comprehensive series of proposals to tighten up on a business that it says is poorly understood by clients. Over 80 per cent of customers lose money on these financial-market bets, the FCA said. At pixel time: CMC Markets shares are down by over 30 per cent to 128.4p. Shares in IG Group are down […]
The vast majority of UAE-based CEOs are confident about prospects for their organisations over the next three years, according to the KPMG 2016 CEO Outlook report. The survey findings revealed that 76 percent of polled UAE-based CEOs – compared to 41 percent of global CEOs – believe that their business will change significantly over the next three years. The survey also found that UAE bosses believe that […]
