|By Arabian Post Staff|Abu Dhabi is considering more mergers to boost its financial services industry after combining National Bank of Abu Dhabi and First Gulf Bank, Bloomberg reported quoting some people with knowledge of the matter. The agency said Abu Dhabi is weighing a plan to merge Abu Dhabi Commercial Bank PJSC and Union National Bank and also combine Abu Dhabi Islamic Bank with Al-Hilal Bank. But […]
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 […]
Dubai retail firm Marka has reported a Q3 loss of $3.2 million (AED11.8 million), a 15% improvement from the $4 million (AED14.7m) loss it reported last year. Company also reported total revenue of AED 65.9 million ($17.9 million) in Q3 of 2016, a decrease of 15 percent compared to the same period in 2015. In its statement, Marka said the results for Q3 reflect the company’s sale […]
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 […]
|By Arabian Post Staff|Saudi Arabia’s sovereign wealth fund is considering selling stakes in local companies to raise funds for international expansion, Bloomberg reported quoting people with knowledge of the matter. The Public Investment Fund — with about $100 billion worth of shares in listed local companies including Saudi Basic Industries Corp. and Saudi Telecom Co. — is reviewing the stakes as it seeks to diversify its assets, […]
|By Arabian Post Staff|Saudi Arabia’s sovereign wealth fund is considering selling stakes in local companies to raise funds for international expansion, Bloomberg reported quoting people with knowledge of the matter. The Public Investment Fund — with about $100 billion worth of shares in listed local companies including Saudi Basic Industries Corp. and Saudi Telecom Co. — is reviewing the stakes as it seeks to diversify its assets, […]
After months of sending government troops to battle militants blowing up oil pipelines in the Niger Delta, Muhammadu Buhari tried a different tack. The Nigerian president invited the region’s community leaders and traditional rulers to his villa this month for talks — a step energy sector executives hoped could halt a wave of sabotage since January that has cost the country billions of dollars in damages and […]
This Halloween, take a tour with NASA’s Exoplanet Exploration site of some of the most terrifying destinations in our galaxy. The nightmare world of HD 189733 b is the killer you never see coming. To the human eye, this far-off planet looks bright blue. But any space traveler confusing it with the friendly skies of Earth would be badly mistaken. Source link
The election of Donald Trump represents a “tectonic shift” for global economics and politics, and will help kill the three-decade bond market rally, according to Henry Kaufman, the original “Dr Doom”. The former Salomon Brothers chief economist gained his gloomy moniker by correctly calling the last bond bear market in the 1970s, and is now predicting another one, as Mr Trump will probably fire a massive slug […]
Donald Trump and top allies have shown signs the New York billionaire may moderate some of his biggest campaign promises, while digging his heels in on others. In the wake of Mr Trump’s stunning electoral win last week, both political analysts and financial investors are waiting to see which of the two Donald Trumps will prevail: the bombastic primary candidate, or a pragmatist who viewed his more […]
With a strong sustainability plan in place, TASNEEF will use CSR to encourage best practice and strengthen the UAE 2021 vision of excellence in both public and private sectors. Abu Dhabi – 14 November 2016 TASNEEF in cooperation with the joint venture TASNEEF Business Assurance has started to implement a Corporate Social Responsibility (CSR) system, in line with its strategic plans and CSR objectives, by various activities […]
Alia Khalifa Al Nabooda strikes a real balance – she’s an entrepreneur and mother-of-four, who puts in the time to be successful at both. Last year, the 32-year-old co-founded VoucherSkout, a 50 per cent discount app for services across the UAE. “We’ve had our struggles, like any start-up business. Things haven’t gone exactly to plan, but now that we’ve launched, we can see the fruits of our […]
In most of the high-profile swing states, the story was the same. In Ohio, Team Clinton was responsible for about 75 percent of the 79,000 TV ads aired in the race since mid-June, after the primaries had ended. In North Carolina, Team Clinton was likewise responsible for about three-quarters of the 63,000 presidential race TV ads since mid-June. And in Pennsylvania, Team Clinton was responsible for nearly […]
Round 3 brought more of the same, though the champion’s leg kicks seemed to be landing with more of a snap. Continue reading the main story As a championship fight, this bout was scheduled for five rounds, rather than three. And the crowd finally had something to cheer about in Round 4, when Kowalkiewicz stung Jedrzejczyk with a punch and put her on the back foot for […]
Berkshire Hathaway Inc (BRKa.N) shares posted one of their best weeks in years, soaring 9.5 percent and touching a record high, even though Chairman Warren Buffett’s choice for the White House, Hillary Clinton, was defeated by Donald Trump. The conglomerate’s Class A shares closed on Friday up $1,110 at $234,860, a day after surpassing their record set in December 2014. Its Class B shares did even better, […]
Photo United States goalkeeper Brad Guzan (12) could not stop a header by Mexico’s Rafael Márquez in the 89th minute of a World Cup qualifier in Columbus, Ohio. Credit Jamie Sabau/Getty Images COLUMBUS, Ohio — For years, the score was so ingrained it became a mantra. A rallying cry. A marketing device, even. Four straight times, the United States men’s soccer team faced Mexico in a home […]
Warren Buffett has thrown his weight behind scandal-hit Wells Fargo, saying it is “a great bank that made a terrible mistake” whose new chief executive Tim Sloan is “exactly right” for the top job. Breaking his months-long silence on the debacle, the head of Berkshire Hathaway, the bank’s biggest shareholder, confirmed he has not sold any shares after the scandal erupted over sales practices. The famed investor […]
By Tim Baysinger Twitter Inc (TWTR.N) said it was able to deliver more viewers than promised to advertisers on a U.S. election night livestream, good news for the microblogging site as it tries to ward off growing competition for ad dollars from Snapchat and Instagram. Twitter partnered with BuzzFeed to host an election night broadcast on Tuesday and attracted major advertisers, including Paramount Pictures, Amazon.com Inc’s (AMZN.O) […]
By Vladimir Soldatkin | MOSCOW MOSCOW Russia’s top oil producer Rosneft reported strong cashflow on Friday, strengthening its position for a continuing acquisition drive despite a worse than expected 77 percent decline in third-quarter net profit. Rosneft, which bought a controlling stake in mid-sized oil company Bashneft for 323 billion rubles ($4.9 billion) last month, has been looking for ways to increase its global exposure and become […]
ABU DHABI // Mass extinction of species, how to boost economic growth without harming the planet and the effects of mass agriculture are all issues to be addressed at the Cop 22 summit. The meeting in Morocco, which began this week, follows last year’s Paris Agreement, where 196 countries committed to reducing global warming to less than 2°C. One of the major discussion points is that the […]
MUMBAI Tata Motors (TAMO.NS) said on Friday that Tata Sons has called for an extraordinary general meeting to oust two directors, Cyrus Mistry and Nusli Wadia, from the automaker’s board, as the nasty spat between the Tata and Mistry camps escalates. In a securities filing, Tata Motors said top shareholder Tata Sons, which controls a 26.51 percent stake in the automaker that owns luxury brand Jaguar Land […]
UAE. Middle East businesses embracing digital transformations in order to gain business advantage and drive innovation are being warned to place digital trust and cyber security at the heart of such change. The advice has been issued by two new senior experts in IT, digital transformation and cyber security appointed by PA Consulting Group Middle East and North Africa as part of an aggressive recruitment phase to […]
The United Nations implored all sides in the Syria conflict on Thursday to allow food deliveries to rebel-held eastern Aleppo, where roughly 250,000 residents, under siege for months, just received their last rations. Russia appeared to reject the plea. “I don’t think anybody wants a quarter of a million people to be starving in east Aleppo,” Jan Egeland, the United Nations official in charge of a humanitarian […]
During the long 2016 election season, now-President-elect Donald Trump spent far more time talking about immigration, terrorism and the economy than he did about information technology issues. Over the past several years, though, he has occasionally taken to Twitter to bash net neutrality as a “top-down power grab” or say during a Fox & Friends television interview that Apple should be boycotted for fighting an FBI order […]
