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Lebanon outlook revised to negative on weakening economic prospects; 'B-/B' ratings affirmed

LEBANON. On Sept. 11, 2015, Standard & Poor’s Ratings Services revised its outlook on the Republic of Lebanon to negative from stable. At the same time, we affirmed our ‘B-/B’ long- and short-term foreign and local currency sovereign credit ratings. RATIONALE The outlook revision stems from our view that political uncertainty in Lebanon and regional tensions will continue to weigh on economic growth in the mediumterm. In […]

News Analysis: Nuclear Deal Sealed, Obama Must Now Make It Work, and Mend Fences

Middle East News Analysis By PETER BAKER and JULIE HIRSCHFELD DAVIS September 11, 2015 WASHINGTON — Having beaten back a congressional campaign to derail his nuclear agreement with Iran, President Obama now faces a panoply of challenges that may be just as daunting: making the deal actually work while repairing relations with disaffected allies and constraining Tehran’s regional ambitions. He got started Friday even as the House was still voting by announcing […]

GoDaddy prevails in lawsuit over Oscar trademarks

A NASCAR vehicle is seen parked out front during web hosting company GoDaddy’s initial public offering (IPO) at the New York Stock Exchange April 1, 2015. Reuters/Brendan McDermid/Files GoDaddy Inc (GDDY.N) prevailed in a cybersquatting lawsuit brought by the Academy of Motion Picture Arts and Sciences, which accused the Internet domain registrar of illegally profiting off its trademarks, including for the Oscar telecasts. In a 129-page decision […]

INDIA SHOULD TAKE ADVANTAGE OF SCO MEMBERSHIP

BIG SCOPE FOR COLLABORATION IN OIL RESOURCES   By Nitya Chakraborty   The next summit of Shanghai Cooperation Organisation (SCO) is scheduled…

How Much Income Risk Should You Take In Retirement?

FERG ramps up awareness strategy against cybercrime

The UAE’s Foreign Exchange and Remittance Group (FERG), comprising of businesses engaged in money exchange and remittances in the country, has ramped up its awareness strategy to combat cybercrime.  The strategy focuses on disseminating information to member exchange houses to combat cybercrime activities costing the global economy over $110 billion every year, said a statement. Rajiv Raipancholia, FERG secretary and Orient Exchange’s chief executive officer, said: “Not […]

Senate Democrats Clear Way for Iran Nuclear Deal

President Obama at a meeting to discuss the Iran nuclear accord at the White House on Thursday. By JENNIFER STEINHAUER September 10, 2015 WASHINGTON — Senate Democrats delivered a major victory to President Obama on Thursday when they blocked a Republican resolution to reject a six-nation nuclear accord with Iran, ensuring that the landmark deal will take effect without a veto showdown between Congress and the White House. A […]

Al Barsha residents concerned about effects of overhead power cables

DUBAI // Fears over what effect overhead power lines could have on the health of families dominate the concerns of Emiratis in Al Barsha as campaigning for votes in the October 3 election to the Federal National Council gains pace. Residents would like detailed studies on the impact of overhead pylons on nearby homes. “Our whole family stays in villas facing the power lines, we have neighbours […]

Conditions outlined for GCC nationals looking to buy weapons at ADIHEX

The Ministry of Interior has set conditions for Emirati and GCC citizens to obtain weapons permits at the Abu Dhabi International Hunting and Equestrian Exhibition (Adihex), being held at Abu Dhabi National Exhibitions Centre. Col Humaid Al Aafreet, director of the arms and explosives department at the General Directorate of Security and Ports Affairs at Abu Dhabi Police, and head of the Adihex security committee, said Emiratis […]

Hillary Clinton Backs Iran Nuclear Deal, With Caveats

Video The Democratic presidential candidate Hillary Rodham Clinton backed the Iran deal in a speech at the Brookings Institution in Washington on Wednesday. By DAVID E. SANGER and AMY CHOZICK September 9, 2015 WASHINGTON — Hillary Rodham Clinton on Wednesday embraced the Iran nuclear deal that she paved the way for as secretary of state, but said it would work only “as part of a larger strategy toward Iran” that contained the […]

Republican Revolt Stalls House Debate on Iran Nuclear Deal

Middle East By DAVID M. HERSZENHORN September 9, 2015 WASHINGTON — House Republican leaders on Wednesday postponed debate on President Obama’s landmark nuclear accord with Iran amid a revolt by some Republicans who claimed the White House had not disclosed secret side agreements on the deal. The delay of the historic debate because of Republican infighting opened a new twist in the White House’s effort to move forward with the […]

Shortage of 'Middle-Income' housing is a major issue in the MENA region

UAE.  JLL, the world’s leading real estate investment and advisory firm, has today published a special report on the middle-income housing segment in the Middle East and North Africa region. The report highlights the social and economic impact of a marked shortfall in the required supply of middle-income housing, suggesting that significant efforts are needed to address the current imbalance. The report clearly outlines that this shortage […]

FNC election campaigns begin in earnest

ABU DHABI // Tariq Lootah, undersecretary of the Minister of State for FNC Affairs and head of the Elections Management Committee, said there would be no further changes to the elections schedule. The start of the FNC elections campaigns was delayed by the three days of mourning for the 45 UAE soldiers killed in Yemen on Friday. Ahmed bin Humaidan, the head of Dubai’s election committee, said […]

Fed, bank stocks and Wall Street bears

|By Matein Khalid| The Federal Reserve could well raise its overnight borrowing rate at the next FOMC monetary policy conclave on September 17. Though contagion from China’s 40% stock market meltdown has triggered bear markets from Hong Kong to Frankfurt and plunged Asian/emerging markets equities into ta ghastly replay of 1998’s epic meltdown (General Suharto’s overthrow, the Russian rouble default, Malaysia’s capital controls, the run on the […]

3 More Senators Back Iran Deal, Giving White House Added Cushion

WASHINGTON — Three Democratic senators announced on Tuesday that they would back President Obama’s nuclear deal with Iran, bringing to 41 the total number of Senate supporters as critics in Congress prepared to open a historic debate on the accord. With the support of the three senators — Richard Blumenthal of Connecticut, Gary Peters of Michigan and Ron Wyden of Oregon — the White House gained additional […]

Dick Cheney Denounces Nuclear Deal With Iran as ‘Madness’

WASHINGTON — Former Vice President Dick Cheney on Tuesday rallied Republican opposition to President Obama’s agreement with Iran, denouncing it as a “shameful deal” that would risk a new Holocaust and possibly lead to the first nuclear attack since Nagasaki. In a full-throated speech to supporters at the American Enterprise Institute here, Mr. Cheney argued that Mr. Obama and his team had abandoned their own criteria for […]

A New Wave of Migrants Flees Iraq, Yearning for Europe

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 […]

Injured Emirati soldiers eager to get back to the frontline

Saif Al Kaabi, Abdulaziz Al Bloushi and Abdulrahman Al Qaydi all survived the Houthi strike … and all are keen to return to their brothers on Yemen’s frontline to finish the job they started. ABU DHABI // Lying in his hospital bed, Saif Al Kaabi can only think about getting back to the front line. The 26-year-old from Hatta was one of dozens of soldiers injured in […]

Op-Ed Contributor: Israel in a Post-Deal World

HAIFA, Israel — THE day after six world powers reached a nuclear agreement with Iran in July, the Israeli Knesset’s foreign affairs and defense committee called on Israel’s government to “continue to closely follow the precise and strict implementation” of the agreement “to ensure that Iran is not continuing to fool the international community as it did in the past, while strengthening the historic alliance between the […]

Debbie Wasserman Schultz, Head of D.N.C., Backs Iran Nuclear Deal

WASHINGTON — Representative Debbie Wasserman Schultz, the chairwoman of the Democratic National Committee, announced on Sunday that she will support the nuclear agreement with Iran that has roiled many in her Florida district. “I’ll be casting my vote to support the deal and if necessary sustain the president’s veto,” she told Jake Tapper on “State of the Union” on CNN. While she called it a “gut wrenching” […]

Netanyahu Rejects Calls to Accept Syrian Refugees

JERUSALEM — Prime Minister Benjamin Netanyahu on Sunday rejected calls from opposition politicians for Israel to accept refugees from Syria, saying that Israel was “a very small country that lacks demographic and geographic depth.” He also said that plans to construct a fence along the eastern border with Jordan would go ahead. The Israeli news media has been dominated in recent days by the dramatic reports and […]

Thousands turn out to pay respects to UAE’s fallen soldiers

ABU DHABI // Some had never met them personally, others did not even know their names, but this did not stop thousands turning out for the funerals of two of the fallen servicemen. On Saturday at Bani Yas Cemetery, the services took place for Mohammed Al Hosani and Mohammed Khalid, two of the 45 soldiers killed in the Yemen rocket attack. Mohammed Al Mazroui attended the funeral […]

U.S. Warns Russia Over Military Support for Assad

WASHINGTON — Secretary of State John Kerry told his Russian counterpart on Saturday that the United States was deeply concerned by reports that the Kremlin may be planning to vastly expand its military support for President Bashar al-Assad of Syria, warning that such a move might even lead to a “confrontation” with the American-led coalition, the State Department said. Mr. Kerry called Russia’s foreign minister, Sergey V. Lavrov, “to […]

Unrest Mounts in Southern Syria After Druse Cleric Dies in Blast

BEIRUT, Lebanon — An unusual wave of unrest mounted Saturday in a normally quiet southern Syrian province, according to residents and activists there, after a double car-bombing killed a prominent Druse cleric who had challenged the government by supporting young men who refused to serve in the national army. Angry residents staged demonstrations and attacked security offices, activists said, and by Saturday afternoon the security forces had […]