/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 […]
Bengaluru/By Vishnu Raja/The on-going brawl over telcos move to charge consumers differently and discriminate in favor of some apps opposed to others, had once existed in the past, but only in a realm of hypothetical discussions. The debate is becoming realistic as people in India begin to realize the importance of net neutrality (NN) and the ‘dangers’ this may pose to consumers. ISPs, globally, have a track record of such arbitrary actions and […]
As chairman of Emaar Properties, Mohamed Alabbar has shaped much of Dubai’s skyline, but rapid growth in his outside real estate interests is raising the possibility of a rarity in the Gulf – open shareholder dissent. Speculation persists that Alabbar and Emaar, the company he founded in 1997, could soon part ways despite a categorical denial from the firm last month. His involvement in other firms’ projects, […]
Borse Dubai ruled out any sale of its shares in Nasdaq OMX Group on Thursday after shedding its entire 17.4 percent stake in the London Stock Exchange (LSE). The firm had been the biggest single shareholder in the LSE prior to the sale, which occurred on Wednesday through a so-called book building process which a source familiar with the matter told Reuters on Thursday happened at 22.50 […]
|By TAP Staff| Dubai’s stock exchange operators Borse Dubai Ltd said it was selling its remaining stake of 17.4 percent in the London Stock Exchange Group. Borse Dubai holds the biggest shareholder in the premier global exchange, valued at about $2.2 billion. Borse Dubai is the holding company for Dubai Financial Market (DFM) and NASDAQ Dubai. Borse Dubai was created 6 August, 2007 to consolidate the Government […]
Dubai’s Amlak Finance will hold a shareholder meeting on April 16 to seek their approval for lifting a six-and-a-half year trading suspension on the mortgage lender’s shares, according to a bourse filing on Wednesday. If shareholders agree, the board will then seek permission from the “concerned authorities” to resume trade and determine a date to do so. Trading in Amlak, 48 percent owned by Dubai’s biggest developer […]
Dubai Investments, a diversified Gulf-based investment group, plans to float shares in at least one subsidiary next year and could also divest other holdings, its chief executive said on Monday. The firm, which reported a 63 percent rise in annual profit to 1.34 billion dirhams ($364.8 million) last year, has primed three subsidiaries – in financial services and property, plus district cooling firm Emicool – to potentially […]
Arabtec’s chairman will meet officials of Egypt’s housing ministry on Wednesday to renegotiate the terms of a $40 billion plan to build one million homes in that country, a source familiar with the matter said. Dubai-listed Arabtec announced last March that it had reached agreement in principle with Egypt’s army to build the homes at 13 locations around the country, on land provided by the armed forces. […]
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 […]
Saudi Arabia’s ACWA Power is obtaining a loan of about $344 million from three banks to finance a solar energy project in Dubai, chief executive Paddy Padmanathan said on Sunday. The 27-year amortising loan with an interest rate of 4 percent is being provided by Abu Dhabi’s First Gulf Bank and two Saudi banks, National Commercial Bank and Samba Financial Group, he told reporters on the sidelines […]
By Edward Taylor and Jan Schwartz GENEVA Sun Mar 1, 2015 11:43pm IST Customers gather for the opening of an Apple Store in Hangzhou, Zhejiang province, January 24, 2015. Credit: Reuters/Stringer/Files GENEVA (Reuters) – The main talking point at this week’s Geneva car show is likely to be a vehicle that may never be built: the Apple car. The world’s automakers will gather in the Swiss city […]
RIYADH, 2 days ago Saudi Arabia’s Mobily on Wednesday said it swung to a full-year loss in 2014 after the telecommunications operator announced its audited results, also revealing it had breached loan covenants with various lenders. Mobily — formally called Etihad Etisalat — made a loss of SR913 million ($243.4 million) in 2014 after it took an additional charge of SR1.13 billion, it said in a statement […]
Emaar Properties PJSC, Dubai’s largest publicly-traded real estate developer, plans to sell shares in its hotels unit in the second half and hired Rothschild as an adviser, three people with knowledge of the matter said. The offering is planned for later in the year because of conditions on the Dubai Financial Market, two of the people said, asking not to be identified as the information is private. […]
HSBC Holdings, struggling to contain a scandal over tax evasion at its private bank, reported lower-than-predicted fourth-quarter profit as costs and conduct provisions rose. The shares slumped the most since 2011. Pretax profit dropped 56 percent to $1.7 billion from the year-earlier period, London-based HSBC said in a statement on Monday. That missed the $3.7 billion average estimate of five analysts surveyed by Bloomberg. Full-year profit fell […]
Orascom Construction has started proceedings for the demerger of the company’s units with its engineering and construction business to be listed on exchanges in Egypt and Dubai, the Amsterdam-listed firm said on Monday. The demerger of the engineering and construction business from its fertilisers and chemicals’ unit will take place on March 7, the company forecast in a statement. Orascom Construction will re-list on Egypt’s bourse, having […]
|By Sarosh Zaiwalla| Towards the end of last year, it was announced that the UAE’s long anticipated insolvency reform bill was reaching its final stages prior to implementation. The legal framework was drawn up following the establishment of the Dubai World Tribunal that resulted from the entity’s inability to pay its creditors in November 2009. The case cast a spotlight on the UAE, which until today does […]
Fast-growing Gulf Arab banks plan to bolster their reserves by issuing capital-boosting bonds, but uncertainty over regulation and ultra-tight pricing increase the risks for issuers and investors. Basel III standards, now being phased in around the world, will require banks to hold more capital. While Gulf banks have very high capital adequacy ratios, their rapid expansion, and the fact they operate in emerging markets with lower sovereign […]
Dubai Investments PJSC, the company with interests in real estate and manufacturing, will buy a 60 percent stake in investment bank Al Mal Capital PSC as part of a plan to boost financial services assets. The company will pay about 150 million dirhams ($41 million) for the stake and expects to complete the purchase by March 15, Chief Executive Officer Khalid Jassim Kalban said in a phone […]
Dubai’s DAMAC will list on the Dubai Financial Market (DFM) on Monday, a bourse spokesman said, after the developer offered holders of its London-listed global depository receipts (GDRs) shares in its holding company instead. DAMAC in December received approval from the United Arab Emirates’ Securities and Commodities Authority to list on the DFM, according to a filing to the London Stock Exchange. The developer offered 23.08 shares […]
Dubai Investments is close to finalising two acquisitions worth a combined 400 million dirhams ($109 million), it said in a statement on Sunday. One of the purchases will be of a financial entity with expertise in asset management, corporate advisory services, debt raising and brokerage capabilities, with the second acquisition coming in the real estate sector, the statement said. It did not name the acquisition targets nor […]
Gulf stock markets fell sharply on Tuesday as Brent crude extended losses after plunging 5 percent a day earlier and the threat of a fresh euro zone crisis in Greece also prompted investors to sell risk assets globally. Brent crude touched a fresh 5-1/2-year low at $52.28 a barrel on Tuesday on oversupply concerns. MSCI’s emerging market index was down 0.9 percent. Saudi Arabia’s main index dropped […]
By BEN HUBBARD January 5, 2015 BEIRUT, Lebanon — Four heavily armed men from Iraq attacked a Saudi Arabia border patrol early Monday, firing automatic weapons and detonating suicide belts in a confrontation that left three guards and all the assailants dead, Saudi officials said. The early morning clash, which the Saudis described as an attempted infiltration near an isolated patch of the Saudi-Iraq frontier, was one of the […]
MUMBAI Sat Jan 3, 2015 7:26pm IST A worker displays a Micromax mobile phone inside a store in Kolkata December 4, 2013. Credit: Reuters/Rupak De Chowdhuri/Files Related Topics Stocks Bollywood actor Deepika Padukone turns 29. Pics MUMBAI (Reuters) – Micromax Informatics, India’s second-largest smartphone maker, plans to raise as much as $500 million through a stock market listing in its financial year beginning in April, […]
Gulf stock markets rose on Sunday despite oil’s weakness as Saudi Arabia’s plan to maintain government spending at a high level boosted investor confidence. The Saudi government released a 2015 state budget last Thursday that provides for a 0.6 percent increase in spending from this year’s plan. That cheered the retail investors who dominate Gulf stock markets; they had feared falling oil revenues would trigger spending cuts […]
