Nicolas Parasie for The Wall Street Journal In the past six months, the United Arab Emirates’ official credit bureau has ramped up its efforts to procure information: it collected two years of financial records for every single retail customer of each financial institution in the country. That process involved digesting some 100 million transactions, half of which are now fully uploaded into the bureau’s data vault. Marwan […]
Gulf banks are feeling the pinch of rapidly shrinking corporate loan margins, with some predicting a bounce in lending rates as soon as the first half of 2015 as the escalating price war bites into profitability. Lenders are being forced to cut rates and loosen lending terms to secure business as local banks, flush with cash as their balance sheets recover from the global financial crisis, seek […]
|By TAP Staff| Following the huge success of Emaar’s malls IPO, Chairman Mohammed Alabbar indicated the possibility of floating the group’s hotel business, which includes the signature Armani Hotel. Meraas Holding, a Dubai government-controlled developer, has picked banks to manage the IPO of its theme park unit, three people with knowledge of the matter said earlier this month. The company’s IPO is planned for the fourth quarter, […]
Kuwait plans clamp on energy subsidies Kuwait starting to cut subsidies, says IMF DUBAI, 3 hours, 26 minutes ago Kuwait’s government has started reducing some state subsidy payments and is in an advanced stage of preparing a plan to cut subsidies for kerosene and electricity, the International Monetary Fund said. Subsidy cuts are an important economic reform for Kuwait because lavish subsidies, mostly on energy, swallow about […]
By Nantoo Banerjee Barely hours after Pakistan Prime Minister Nawaj Sharif harped before the world audience on its over-six-decade-old position, long discarded by India as ‘unacceptable’ and held ‘impractical’ by most nations deeply interested in peace in the region, that Kashmiris be allowed the right to ‘self-determination’ to decide whether or not to remain part of India, visiting Indian private channels were rushing to Pakistan’s National Security […]
A landmark ruling by the court system in Dubai’s financial free zone suggests the emirate is starting to influence the way international business disputes are resolved in the Middle East, partly taking over that role from London and New York. Last month a court in the Dubai International Financial Centre (DIFC) found Switzerland’s Bank Sarasin had mis-sold $200 million of investment products to Kuwait’s prominent Khorafi family, […]
| By TAP Staff| A report titled Future of Travel by flight comparison website Skyscanner predicts that Lebanon will be the ‘new Dubai’ in a decade’s time. The report looks at how hotel rooms and holiday destinations could change over the next decade. It lists 50 destinations that could emerge as holiday hotspots over the next 10 years, ranking them according to the projected growth per annum […]
While Microsoft has had retail stores across the U.S. for many years now, it has not had a prestigious address that could compete with rival Apple’s store on New York’s Fifth Avenue. That will soon change. Microsoft said Monday it had signed a lease to open a flagship store at 677 Fifth Avenue. That will put it just blocks away from Apple’s famed location beneath the giant, […]
Made with hand-turned, FSC-certified American Walnut, Smoked Ash, Rock Maple and American Oak, these Bright Bead pendant lamps from Australian designer Coco Reynolds feature a variety of designs and shapes offered as single drops or with several clustered together as a chandelier. You choose the bulb and the color that best suits your space. This entry passed through the Full-Text RSS service – if this is your […]
New home? Chelsea could move to Twickenham while Stamford Bridge is redeveloped Photo: PA YES, the sort of widespread disruption that once accompanied football matches is a thing of the past, says Jim White. The very idea of Chelsea fans arriving in Twickenham has apparently put some locals in a state of high anxiety. They are terrified for their hubcaps, petrified about their herbaceous borders, panicked about the […]
By L.S. Herdenia BHOPAL: Brisk preparations are on for the mega investors’ summit to be held in Indore in the first week of October. Chief Minister Shivraj Singh is hopeful that the summit will open the doors for massive investments in Madhya Pradesh. Almost all the important and leading industrial houses of the country are likely to be present in the summit. According to a government spokesman, […]
By S. Sethuraman Tamil Nadu, noted for stability and good governance through decades, may be in for political uncertainty, without a robust leader at the helm like Ms. Jayalalithaa, the convicted and jailed Chief Minister. But this is dependant on the outcome of the 2016 assembly elections. Meanwhile, her ruling AIADMK will hold the fort firm. The space for political rivalry may open wide especially if […]
By Ashok B Sharma The likely face off between Indian and Chinese troops at the line of actual control (LAC) in Ladakh has been averted. Thanks to efforts of the Indian External Affairs Minister Sushma Swaraj and her counterpart Wang Yi at the margins of the UN General Assembly. The Chinese troops have begun withdrawing from Chumar in Ladakh following the flag meeting between two sides. […]
BlackBerry Ltd Chief Executive Officer John Chen said he wants to return to the consumer market someday, though it’s too soon right now. The smartphone maker is focusing on business users, Chen told reporters yesterday at BlackBerry headquarters in Waterloo, Ontario. Already, the new Passport device for professionals has surpassed his expectations, selling 200,000 units since it was unveiled two days ago, according to Chen. “Over time […]
FTTH Council to host 6th annual conference DUBAI, 3 hours, 27 minutes ago Fibre to the Home (FTTH) Council Mena, has announced the launch of its sixth annual conference in the UAE under the theme of ‘FTTH – The Rise of Smart Nation’.According to a 2013 study conducted by the council, UAE has the highest penetration rate in the world of fibre to the home connectivity for […]
Apple Products May Be Scarce Around the L.A. Clippers The Los Angeles Clippers have a new rival under [basketball team] owner Steve Ballmer, one that cannot fluster them with cheap shots on the court or end their season in heartbreaking fashion. Of course, that doesn’t make Apple products such as the iPad and iPhone any less vexing to Ballmer, the longtime former Microsoft executive who famously bars […]
Al Sudairy … GEMS is a leading player Saudi group buys waste management firm for $300m RIYADH, 1 days ago Jadwa Waste Management Opportunities Fund, a unit of leading Saudi Arabian private equity house and investment bank Jadwa Investment, has acquired Global Environmental Management Services (GEMS) together with its co-investment partners in a deal valued at around $300 million. The acquisition was funded by funds managed by […]
Genesis offers financial monitoring class DUBAI, 1 days ago Genesis Institute, a leading financial trainer, has launched courses in financial monitoring for businesses to enable them to analyse their performance, reduce losses, improve profits and detect accounting fraud. “You don’t have to be a finance expert in order to see when you’re business is in jeopardy and in fact, it is crucial to be able to tell […]
Deloitte Middle East hires 700 new staff BEIRUT, 2 days ago Deloitte Middle East, a leading provider of audit, tax, consulting, and financial advisory services, hired 700 new people this year while continuing to deliver double digit growth, said the company’s chairman and chief executive. “The firm is also investing heavily in its internal systems and in developing world-class expertise in such areas as cyber security, Private […]
Since the iPhone 6 and iPhone 6 Plus hit stores on September 19, the highs of Apple’s record-breaking sales have been quickly overtaken by a number of lows. Just three days after Apple announced that it had sold a record 10 million new iPhones over the opening weekend, buyers soon discovered the new phones’ operating system — iOS 8 — featured multiple bugs. A few even found […]
In a move to tap into the vast opportunities in China’s technology industry, Intel plans to invest as much as $1.5 billion for a minority stake in a holding company there. Intel is acquiring 20 percent of a Tsinghua Holdings operating subsidiary to execute its mission. Tsinghua is a solely state-owned limited liability corporation funded by Tsinghua University in China. By partnering with Tsinghua, Intel aims to […]
[embedded content] Sustainable business and production practices are one reason people love Patagonia gear. With their new Truth To Materials program their processes & products become even cleaner, by sourcing materials like reclaimed down, wool, cotton and natural, un-dyed cashmere directly through co-ops and local suppliers. This entry passed through the Full-Text RSS service – if this is your content and you’re reading it on someone else’s […]
Brocade unveils Vyatta SDN controller DUBAI, 21 hours, 28 minutes ago Brocade, an American technology company specialising in data and storage networking products, recently introduced the Brocade Vyatta Controller as part of the company’s strategy that delivers an open and modular networking platform for cloud service providers. The Software-defined networking (SDN) controller from Brocade that is scheduled for general availability in November this year is a key […]
Shares of Marka started trading Thursday at a premium of 77% to its 1 U.A.E. dirham ($0.27) issue price. Asa Fitch for The Wall Street Journal Shares of Marka, a brand-new retail and hospitality company in the United Arab Emirates, began trading at a huge premium to their initial public offering valuation on the Dubai Financial Market Thursday, underscoring both a revival of confidence and what could […]
