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Saudi Energy Minister Khalid Al Falih said on Thursday he was optimistic that OPEC would formalise a preliminary oil output deal reached in Algeria in September. “I’m still optimistic that the consensus reached in Algeria for capping production will translate, God willing, into caps on states’ levels and fair and balanced cuts among countries,” he told Saudi-owned Al-Arabiya TV. Falih said he believed the market was on […]

Held in Bangkok, Thailand, the conference theme for 2016 is “Collaboration in the Digital Economy” and featured sessions on collaborative regulation, smart sustainable cities, fostering SME innovation, gender inclusive development and digital financial services for financial inclusion LAGOS, Nigeria, November 17, 2016/  Nigeria’s government and private sectors have made a pitch to foreign investors at the 2016 International Telecommunication Union conference, Telecoms World, where they presented the […]

The UAE’s workers will get a three-day holiday to mark UAE National Day and Commemoration Day at the start of next month. The Federal Authority for Government Human Resources has announced that public and private sector worker will have a holiday from Thursday December 1 to Saturday December 3, giving one day off from the regular working week. Workers will return to work on Sunday December 4. […]

The man organising Qatar’s World Cup in 2022 has said that the gas-rich country could buy an English Premier League club in the future. “‘I can see it happening down the road,” Hassan Al Thawadi said, in comments reported by the UK’s Daily Mail newspaper. “It’s likely. There’s such a passion for football and the Premier League in particular. Everyone on the street has an opinion.” Qatar, […]

Cambridge, November 17, 2016  The 2nd Islamic Retail Banking Awards (IRBA) ceremony is scheduled to be held in Dubai on November 28, 2016. Organised by Cambridge IF Analytica, a UK-based financial think tank, IRBA was first launched in 2015 to recognise, reward, and honour the achievements of leading Islamic retail banks and individuals across the globe. This year’s Awards Ceremony will be attended by CEOs of Islamic […]

“When the economic crisis hits the elite, it means the suffering is all over the place,” said Malak Rostom, the vice president of the student union. “If we can’t afford it, we can tell how much other people are suffering.” Continue reading the main story Some Egyptians may sneer at the problems of the children of middle- and upper-class families, worried about tuition increases that dwarf the […]

The welcome Several door staff are manning the slick hotel entrance as I drive up, and several more smartly dressed staff are stationed in the marble-and-glass lobby, which is dressed in fresh flowers and local artwork. A couple of the staff recognise me from a previous visit. The reception area to the right is also well-manned. I’m offered a cold towel and a tasty mango, mint, lemon […]

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Lawyer Hani Hussein, who was barred from participating in the parliamentary polls, has claimed a “big surprise” could delay Kuwait’s November 26 elections and lead to the reinstatement of the 2013 National Assembly which was dissolved in October. Hussein made the announcement on his official Twitter account but declined to reveal the nature of the surprise. However, he said it relates to a provision in the election […]

Dead Rising 4 will not feature campaign co-op, unlike previous games in the series. Via Destructoid, Capcom Vancouver producer David McAnerin fielded a question from a fan on a stream asking whether the fourth iteration will feature co-op play in the main campaign. “So, in the story mode, it’s a single player story mode, you’re going to play just as Frank…,” says McAnerin. “The four player co-op […]

Eight years after the launch of the National, state-owned Abu Dhabi Media Company (ADM) has sold the English-language newspaper. WAM reported that the paper had been sold to International Media Investments (IMI), a subsidiary of private investment firm Abu Dhabi Media Investment Corporation (ADMIC). ADMIC was set up in 2010 as a special purpose vehicle for a partnership with broadcaster BSkyB to launch the Sky News Arabia […]

A preliminary October 2016 performance data report by STR has indicated Dubai experienced a 2% occupancy decrease to 77.9%. The research also showed a 10.3% ADR decrease to AED 767.58 (US $208.97) and a 12% RevPAR decrease to AED 598.09 ($162.83). The report indicated performance declines were consistent with significant supply growth. Based on daily data from October, Dubai reported increases in supply of 6.0% and demand […]

As the region’s avid online shoppers get set for another record-breaking 4-day shopping festival, SOUQ.com ensures a seamless and exciting shopping experience for customers – With the introduction of new Fashion, FMCG and lifestyle categories, 50% of units sold expected to be non-electronics – More than 100K mobiles, 100K health & beauty products and 50K apparel items on sale this year 16th November, 2016, Dubai, […]

BERLIN The new chief executive of Hugo Boss (BOSSn.DE) said he expects to return the struggling German fashion house to growth in 2018, announcing plans to simplify its brand portfolio and adjust prices in a bid to appeal to younger customers. Mark Langer, the former finance chief who was appointed CEO in May, said the company will focus in future on two main brands – upper premium […]

Qatar’s United Development Co has awarded three contracts worth 716 million riyals ($190.9 million) to develop projects on its Pearl-Qatar real estate project, the company said on Tuesday. Leighton Contracting Qatar had been commissioned for construction work at the main building of Al Mutahidah Towers, while Navayuga Engineering Co was picked to complete infrastructure work at Giardino Village, a residential district. Promer Qatar was given a contract […]

Dubai’s Shuaa Capital said on Tuesday it has received regulatory approvals allowing Abu Dhabi Financial Group (ADFG) to buy a 48.36 percent stake in the investment bank. Alternative investment firm ADFG agreed in June to acquire the stake from Dubai Banking Group, a subsidiary of Dubai Group. Shuaa received approval from both the central bank and the stock market regulator, the bourse statement said, adding that it […]

By Lauren Hirsch and Liana B. Baker Snapchat has filed for an initial public offering, sources familiar with the situation said on Tuesday, which puts the messaging app a step closer to the biggest U.S. stock market debut since 2014. The Venice, California-based company could go public as soon as March and be valued at $20 billion to $25 billion, making it the largest IPO since Chinese […]

US President-elect Donald Trump is sending another strong signal that he plans to take a pro-growth and business friendly approach to economic policy, with leading New York investors Steve Mnuchin and Wilbur Ross on his short list for Treasury and Commerce secretary. The pair on Tuesday won the endorsement of billionaire investor and Trump backer Carl Icahn who turned to Twitter after speaking with the incoming Republican […]

Saudi Arabia’s central bank expects gross domestic product to grow 1.8 percent this year, faster than the 1.2 percent forecast by the International Monetary Fund, the bank said in its annual report, released on Monday. The non-oil sector is expected to expand 2.5 percent and the oil sector, 1.2 percent, the central bank said. At a news conference, central bank governor Ahmed Al Kholifey said that the […]

A day before its official release, OnePlus 3T has already made an appearance at Oppomart. While the item appears to be serving as a placeholder, some of the listed specifications seem to be the real deal and they confirm a number of leaked information in the past few weeks. Confirming OnePlus 3T Leaks For starters, OnePlus is really calling the device as OnePlus 3T. How about the Snapdragon […]

Three global trends are reshaping GCC travel distribution business models and threaten to weaken the connection between airlines and customers Rise of digital technologies risks weakening connection between airlines and customers In the Middle East, there is growing internet penetration, with a rapid rise in the use of mobile – around 15% of internet users use only mobile for access By getting closer to […]

The first ferry connection between Qatar and Bahrain will launch by the middle of next year, according to a report. Doha News quoted an industry source as saying that the new service, operated by Qatari firm Gulf Ferry, will have two return trips a day from Al Ruwais port in northern Qatar to Khalifa bin Salman port in Manama. The report said the service will take commercial […]

ABU DHABI // Parents can play a role in promoting science education by accompanying their children to the Abu Dhabi Science Festival. As he led officials on a tour of the festival grounds on Monday, Abu Dhabi Education Council director general Dr Ali Al Nuaimi encouraged visitors to make the science festival a family affair. “I urge parents to come and participate with their kids,” said Dr […]

Bank of Sharjah is considering issuing a $500 million conventional bond in 2017 for general corporate purposes, banking sources have told Reuters. The Abu Dhabi-listed lender gained shareholder approval earlier this year to issue bonds worth up to $1.5 billion. It issued its first international bond of $500 million in 2015. The bank chose JP Morgan and National Bank of Abu Dhabi as joint coordinators for the […]

Samsung has announced it has entered into a definitive agreement to acquire Harman, the designer and maker of connection products for automakers, in a bid to expand and accelerate its growth in connected technologies. On Monday, Nov. 14 the Korean company confirmed that it will buy Harman for $112 per share, which brings the cost of acquisition to about $8 billion. Harman has a strong presence in […]

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