Hotel demand will outpace supply by 2020, according to STR’s client relationships director Sarah Duignan. She made the pronouncement at the Accommodating growth in the Middle East presentation at the Hotelier Express Summit 2016, held on November 23 in Dubai. Duignan said Middle East hotels’ revenue per available room (RevPAR) levels had peaked in October 2009 at AED1,300 ($353.9) and today current average rates over the last […]
November 27, 2016 by: Anne-Sylvaine Chassany in Paris French voters were heading to the polls on Sunday in a primary run-off contest predicted to give François Fillon the centre-right nomination and a good chance of becoming president of France next year. Mr Fillon, the former prime minister who unexpectedly surged to pole position with 44 per cent of the votes in a first round last Sunday, is […]
DUBAI, June 10 (Reuters) – Qatar’s central bank plans to issue 4 billion riyals ($1.1 billion) worth of local currency government bonds next week, it said on Tuesday, including a new seven-year tranche to build a longer yield curve. The debt, to be auctioned on Sunday, will include 2.1 billion riyals worth of three-year conventional bonds and 950 million riyals each of five- and seven-year tranches, the […]
Here are the big questions we are asking at FT Markets into the week when the calendar flips over into December. Will Opec deliver a meaningful production cut? All eyes are on Vienna and Opec’s annual gathering with a keenly awaited decision on production levels. An Opec deal on Wednesday that delivers a concrete supply reduction of at least 1m barrels a day, with non-members such as […]
First Avenue, the new shopping mall and hotel planned for Dubai’s Motor City, has signed up leading retailer Carrefour as a key anchor tenant ahead of the project’s launch early next year. Carrefour, owned by Majid Al Futtaim, will open the new store in First Avenue while other major retailers are set to be announced for the AED500 million project’s launch during the first quarter of next […]
“We have lost everything, our infrastructure, and we have nothing left to lose,” he said. “Now it is a long war of attrition.” Photo A nonfunctioning cement factory in Amran, Yemen, that was bombed twice by the Saudi-led coalition. Credit Tyler Hicks/The New York Times The Houthis’ control of such key territory has made them essential to international efforts to end the conflict, leaving policy makers and […]
By Simon Gardner and Ana Isabel Martinez | HAVANA HAVANA From the Bay of Pigs invasion to a historic visit by President Barack Obama to Havana, Cubans have known for generations that whenever the United States turns its face to Cuba, Fidel Castro would be staring right back. But the death of “El Comandante” has added to worries among Cubans that U.S. President-Elect Donald Trump will slam […]
U.S., Peru seize $30 million in fake dollars, biggest bust ever | Reuters ‘+Reuters.inlinevideo.title+’ ‘+Reuters.inlinevideo.length+’ ‘); } WASHINGTON U.S. and Peruvian agents have seized a record $30 million in counterfeit dollars in the biggest netting of fake greenbacks ever by the U.S. Secret Service, the agency said on Thursday. The stash was discovered when more than 1,500 Peruvian police, along with Secret Service agents, carried out searches […]
Dubai, November 27, 2016: Al-Futtaim has announced the appointment of Dr. Hayan Sayed as Chief Executive Officer of Al-Futtaim Engineering and Technologies. Part of Al-Futtaim Group Real Estate, Al-Futtaim Engineering is a multi-disciplinary engineering organisation operating across UAE, Qatar and Saudi Arabia with over 30 years of successful operations. Al-Futtaim Technologies is a leading Converged Systems Integrator and provides complete business solutions to large, medium and small […]
COLUMBUS, Ohio — Generations of Ohio State and Michigan fans will debate the latest episode of one of college football’s most impassioned rivalries, a 30-27 Ohio State victory in two overtimes on Saturday, the Buckeyes’ fifth straight win over the Wolverines. What if Michigan quarterback Wilton Speight — who generally played well, completing 23 of 36 passes for 219 yards and two touchdowns — had not fumbled […]
AMSTERDAM Royal Dutch Shell expects to pump out all the fossil fuel reserves listed on its balance sheet, its chief executive said, dismissing concerns that production limits in the wake of the Paris climate accord could hit the energy giant’s valuation. In an interview with Dutch newspaper Het Financieele Dagblad, Ben van Beurden said the issue of “stranded” reserves – deposits in the ground that cannot be […]
DUBAI, June 10 (Reuters) – Qatar’s central bank plans to issue 4 billion riyals ($1.1 billion) worth of local currency government bonds next week, it said on Tuesday, including a new seven-year tranche to build a longer yield curve. The debt, to be auctioned on Sunday, will include 2.1 billion riyals worth of three-year conventional bonds and 950 million riyals each of five- and seven-year tranches, the […]
KUALA LUMPUR Malaysian Prime Minister Najib Razak said on Sunday that he will “not necessarily” call a snap election next year, amid talk that he would seek an early vote as splits in the opposition have hobbled efforts to oust him over a long-running financial scandal. The multi-ethnic Southeast Asian country is due to hold an election by August 2018, and a government official has told Reuters […]
Scientists have developed a new perovskite material with unique properties that can be used to build next-generation hard drives. (via WSJ)
KUWAIT CITY: Kuwaitis turned out in large numbers Saturday for the first election contested by the opposition in nearly four years amid fresh disputes over cuts in subsidies due to falling oil revenues.Turnout was high with some polling stations reporting that 80 percent of eligible voters had cast their ballots by the time polls closed at 8 p.m. (1700 GMT), according to Kuwait Television. Vote counting started […]
The Irish prime minister has said it will be “impossible” to agree Brexit within two years, in the strongest rejection so far of the UK’s negotiating timetable by an EU leader. Enda Kenny, who is seen as one of Britain’s allies in the process, said “there’s a growing feeling in Europe that there should be a transition period, and that the transition period will be longer than […]
By Marc Frank and Sarah Marsh | HAVANA HAVANA Fidel Castro’s death could give his younger brother, President Raul Castro, more space to pursue economic reforms, but change will also depend on whether U.S. President-elect Donald Trump decides to work with or challenge Cuba’s communist government. Raul Castro has introduced market-oriented reforms in recent years, but the pace of change has been slowed, many Cubans say, by […]
With violence escalating in Aleppo and elsewhere across war-ravaged Syria, the United Nations said Saturday that the number of children trapped in besieged areas had doubled in less than a year to half a million. A report by Unicef, the United Nations Children’s Fund, said the children were among hundreds of thousands of civilians in 16 areas under siege across the country who had been “almost completely […]
Sales and traffic at U.S. brick-and-mortar stores on Thanksgiving Day and Black Friday declined from last year, as stores offered discounts well beyond the weekend and more customers shopped online. Internet sales rose in the double digits on both days, surpassing $3 billion for the first time on Black Friday, according to data released on Saturday. Data from analytics firm RetailNext showed net sales at brick-and-mortar stores […]
ABU DHABI // The Central Bank of the UAE has issued a new silver coin to mark Commemoration Day. The special coin is part of #The_UAE_Remembers campaign, launched by the Martyrs Families Affairs Office to provide a platform for members of society to express their gratitude and pride in the sacrifices made by the country’s heroes to maintain the UAE’s freedom, sovereignty and security. “Launching The UAE […]
Photo Residents of the Tahir district of Mosul, which had been liberated from the Islamic State a few hours before, on Nov. 16. Credit Sergey Ponomarev for The New York Times CHICAGO — The ancient Assyrians considered the Tigris River the division between East and West, and the city I come from in Iraq is called Mosul — connection point, in Arabic — because it connects these […]
Amid increasing social unrest, a collapsing currency (against the dollar), and an economy at a standstill, there has been another growing fear in India that has spooked many around the world. The rumors and speculation of an Indian gold import ban (or even an outright ban on gold ownership) have sparked panic-buying of the precious metal sending retail premia soaring at local jewelers. In an effort to […]
Gold pared a third weekly drop as the dollar halted a rally that sent bullion prices to a nine-month low and pushed silver into a bear market. Bullion’s first gain in four days cut this week’s loss to 2 percent. Prices have tumbled as strong economic data and the prospect of more spending after Donald Trump’s U.S. election win boosted bets for higher interest rates. Investors are […]
By Lucien Libert and Morade Azzouz | PARIS PARIS Hundreds of thousands of workers and high-school students joined protest marches across France on Wednesday to challenge plans to loosen the country’s protective labor laws that unions say favor businesses. The day of protest — which led to scores of arrests as youths and police clashed in Paris, Lyon and Nantes — marked the fourth such test of […]
