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Leading telecommunications operator du has launched its all new Basic TV packages aimed at delivering specific customer needs, by launching four unique language based packages. It includes South Asian, French, English and Arabic, aimed at enhancing its TV customers’ experience by offering them the option to subscribe to one or more of these packages from just Dh39 ($10.6)per month, said a statement. The four new packages offer […]

UAE.  Latest business survey data pointed to a robust and accelerated expansion in Dubai’s private sector output during August. Furthermore, the rate of business activity growth was the fastest seen since May, with all three monitored sub-sectors reporting stronger output growth in the latest survey period. The rebound in activity growth was underpinned by a stronger expansion in new business, which increased at the strongest rate in […]

Apple unveiled its iPhone 6S (pictured) and 6S Plus today at its annual new product blowout in San Francisco. The form factors and screen sizes of the two phones (4.7 inches and 5.5 inches, respectively) are the same as previous models, but that’s about where the similarities end. The big news on the iPhone 6S and 6S plus is the new input feature, previously called Force Touch […]

UAE. Asteco, the Middle East’s largest full service real estate company has released its mid-year UAE market report ahead of Cityscape Global, highlighting stability in Dubai with a continued focus towards the affordable segment, in contrast to the high end market which experienced declines of up to 10%.  Affordable apartment units at IMPZ, Discovery Gardens and Dubai Silicon Oasis showed 3%, 6% and 2% sales growth over […]

UAE.  A report published today by international real estate advisor Savills has ranked the United States of America (USA), the United Arab Emirates (UAE) and Singapore respectively as the top three countries for residential investability on the basis of economic growth and market recovery. The new Savills World Residential Investability Ranking focuses on countries with cities and resort locations that have consistently attracted investor interest over recent […]

BAGHDAD — Having sold his car for $4,600, and then some of his wife’s jewelry, and having loaded his smartphone with photographs of his five children, all that was left for Haider Abdella to do was say goodbye. “From yesterday to today, we are crying,” he said. His mother sat next to him on the couch, sobbing. “He’s never left me before, from when he was a […]

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With oil stock balances next year looking softer and costs coming down, the commodity will trade at $55 and $61 per barrel during 2016 and 2017, respectively, said the Bank of America (BofA) Merrill Lynch in a report. “Looking at the near-term, however, we still believe oil prices will rebound into year-end on a combination of factors,” said the report titled “Global Energy Weekly: Oil at an […]

|By Matein Khalid| Hong Kong now trades at 9.6 times earnings and 0.86 book value. Hang Seng valuations were gutted by the protest movements in Central and the Shanghai financial meltdown. The Hang Seng index is down 25% since late May and now trades at six times forward earnings, its post Lehman, post 2014 bottom. Hong Kong trades at its lowest price/book value since the Asian flu […]

UAE. With a 54% decline in the price of oil prices during the past 12 months the United Arab Emirates (UAE) real estate market is now beginning to feel the effect with property transaction levels falling across Abu Dhabi, Dubai and Sharjah, according to the latest research from international real estate consultancy, Cluttons. Cluttons’ annual 2015 UAE Property Report reveals that the direct correlation between hydrocarbon revenues […]

UAE.  Today, Phidar Advisory released its Q3 mid-quarter Dubai residential research note. The report shows that residential prices in the third quarter of 2015 continue to decline, compared to the previous quarter. However, the most significant finding was in a statistical analysis of the relationship between currencies and Dubai real estate prices. “Analysis reveals a significant relationship between three key foreign currencies and Dubai real estate prices,” said […]

INTERNATIONAL. The first Barclays UK Prosperity Map has revealed that booming house prices and returns in equity markets, in addition to higher wages and employment rates have resulted in every UK region becoming more affluent, and has driven a 41% increase in numbers of millionaires since 2010. Longer-term, growth in millionaires is expected to return to more normal levels, with a 9% increase in the UK expected […]

UAE. The second quarter 2015 real estate report issued by leading local consulting firm ValuStrat – has shown a steady decline in property values since the peak last year. However, the rate of decline is easing and is expected to continue to decelerate over the remainder of the year. The Residential VPI (ValuStrat Price Index), which is a 100 point index that started tracking residential values since […]

A logo is pictured at Google’s European Engineering Center in Zurich April 16, 2015. Reuters/Arnd Wiegmann/Files BRUSSELS Google Inc has rejected EU antitrust charges that it abused its market power, exposing the company to the risk of a hefty fine if it does not alter its business practices. The company’s comments came after the European Commission in April accused it of distorting internet search results to favour […]

INTERNATIONAL. Market price action dictates direction – traditional support levels were broken violently. Yesterday’s market was the most energised sell-off since 2008/2009. – The US dollar lead this crisis and will lead back up when the low is in – We have reached most of Steen Jakobsen’s technical targets and below is his primitive “expected” path from here (2015 low getting established) – We will see recession […]

INTERNATIONAL. OPEC next gathers December 4 in Vienna, just over a year since Saudi Oil Minister Ali Al-Naimi announced at the previous OPEC winter meeting the Saudi decision to let the oil market determine oil prices rather than to continue Saudi Arabia’s role of guarantor of $100+/bbl oil. Despite the intense financial and economic pain this decision has inflicted on Saudi Arabia, its fellow OPEC members, and […]

BEIRUT, Lebanon — The haplessness of the Lebanese government was evident on Tuesday when its attempts to contain a political crisis over festering garbage were thwarted on several fronts. After the Environment Ministry presented the cabinet with a set of bids for new garbage collection contracts, members of Hezbollah, the country’s most powerful political party, called them extravagantly high and “a farce” and walked out of the […]

UAE. The continuation of low energy prices is impacting both optimism and risk appetite in the Middle East, according to Deloitte’s latest report “Global CFO Signals: CFO Sentiment Q2 2015 – Staying focused; remaining vigilant”. With oil at US$53 a barrel at the time of the survey, CFO optimism fell to one of its lowest levels in recent years, with only a net 26% across the Middle East […]

UAE. Business confidence in the Middle East continued to fall in the second quarter of 2015, but not as quickly as it had in the first three months of the year, according to the to the Global Economic Conditions Survey (GECS) organised by ACCA (the Association of Chartered Certified Accountants and IMA (the Institute of Management Accountants). The slight optimism was due to a temporary reprieve in […]

|By Matein Khalid| Geopolitics is now another source of risk for the Turkish lira, government debt and Istanbul equities. The Turkish air force is bombing Daish in Syria and the secessionist Kurdish PKK party in northern Iraq. Suicide bombings have killed Turkish citizens in eastern Anatolian cities on the Syrian border. Ankara has given the US a green light to launch military airstrikes from the Incerlik air […]

FRANKFURT Smartphone apps that help people learn languages for free or nearly free, a few sentences at a time, are piling pressure on established education firms and setting the pace for how to make lessons more engaging. Phone and tablet-based mobile products from newcomers like Germany’s Babbel, Britain’s Memrise and U.S.-based Duolingo have overtaken names like Berlitz and computer self-learning pioneer Rosetta Stone (RST.N) in terms of […]

LEBANON.  Byblos Bank issued today, in cooperation with the Olayan School of Business at the American University of Beirut, the results of the Byblos Bank/AUB Consumer Confidence Index for the first half of 2015. The results show that the Byblos Bank/AUB Consumer Confidence Index declined marginally in January and February, grew in March, regressed in April, and slightly improved in May and June 2015. Further, the Index […]

DUBAI // Drivers are sharing cars, using public transport and even moving house in response to this month’s increase in petrol prices, a survey suggests. Nearly one in five would consider car pooling or using school buses, and nearly a quarter would use public transport more often. One in five intend to reduce their commute by moving to a home closer to work or to public transport […]

The recent action taken by the UAE to eliminate fuel subsidies has rekindled the debate on tax reform in the GCC, with the focus on domestic implementation of a broad-based Value Added Tax (VAT) on goods and services. While countries are facing an increasing amount of pressure on their national budgets, every GCC government understands the urgent need for fiscal-sustainability, added the report “VAT in the GCC […]

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