INTERNATIONAL. This is now officially a Greek tragedy. In many ways, it is relatively easy to understand why the result was a No from Greece. There is little to lose, as a Yes to more austerity hardly was a great choice for a society on the brink of a social break down. The vote clearly was not help by the fact that the actual vote: Yes or No […]
Dubai and the mid- market hotel sector …stable performance. Dubai hotels sector focus shifting to mid-market DUBAI, 11 hours, 43 minutes ago Dubai is seeing a shift towards the development of mid-market hotels, underpinned by government incentives, a growing middle class in key source markets and the rise of a younger, more cash constrained guest profile, a report said. Strong demand for branded mid-market hotels has helped […]
Oil price flux unlikely to hit long-term sector growth BEIRUT, 13 hours, 17 minutes ago The cyclicality of the oil and gas industry is unlikely to impact the long term trajectory of the sector, a report said, noting that the current fluctuations may speed up some of the trends that were already unfolding. The new report entitled “Oil and Gas Reality Check 2015” released by Deloitte, a […]
|TAP Staff| Iran’s oil biggest shipping company has amassed the world’s largest fleet of super tankers and is in talks to sail back into western waters should the Islamic Republic strike a nuclear deal, according to senior officials, the Wall Street Journal reported. The report quotes privatised Iranian shipping company NITC as saying it has 42 very large crude carriers, known as VLCCs, after buying 20 such […]
ME property market among world’s fastest growing NEW DELHI, 2 days ago Middle East real estate market revenues have augmented at a compounded annual growth rate (CAGR) of 4.7 per cent between 2009 and 2014, making it one of the fastest growing sectors across the world, a report said. Foreign real estate developers have infused billions of dollars into places such as Oman, Qatar, Dubai (UAE), Saudi […]
INTERNATIONAL. Greece’s seeming hour-by-hour descent into chaos at the end of the second quarter has fashioned an intensely uncertain framework casting markets at the mercy of headline risk. It is with that ever-changing caveat that Saxo Bank publishes its Q3 Outlook ahead of the Greek referendum on EU membership which, as things stand, will take place July 5. The outlook for Q3, therefore hangs in the balance, […]
Saudi Arabia … expanding population base ofbrand-conscious consumers.Image: Bigstockphoto. For illustration only. Mall rental rates curbing retail growth in Saudi DUBAI, 15 hours, 58 minutes ago High rental rates in the top-tier malls are deterring the growth of Saudi Arabia’s retail market, a report said, noting that the kingdom is currently facing a great challenge due to scarcity of human resources owing to high attrition rates. Availability […]
Innovation key to globalize for top Chinese firms BEIJING, 17 hours, 1 minutes ago Leading Chinese companies are making innovation a strategic priority in their business models to stay competitive in global markets, according to a new report. The Emerging Best Practices of Chinese Globalizers: Develop the Innovation Models report by the World Economic Forum in collaboration with Strategy& (a part of the PwC network) was based […]
|TAP Special|Emirates has released a point-by-point rebuttal of subsidy allegations, asserting that the US legacy carriers got the facts wrong, got the law wrong, and set their sights on an outcome that will be wrong for American consumers, communities and the national economy. This is the airline’s response to allegations of subsidy and unfair competition leveled by the “big three” US legacy carriers – Delta, United and […]
It looks like 2015 will be the remembered as the summer of dueling mobile offerings. Only days after T-Mobile said it would begin allowing users to upgrade their smartphones up to three times a year, Sprint promised to go “All-In” with a new pricing structure that offers unlimited talk, text, and data for $80 a month. The company, which is the third-largest wireless carrier in the country […]
Dubai real estate developer Limitless has taken a step closer to securing a second restructuring on debt outstanding from Dubai’s property crash six years ago. It said on Monday it would repay 2.07 billion dirhams ($564 million) to creditors and has won the approval of almost 90 percent of banks to extend its remaining debt to December 2018. Limitless is seeking to follow in the footsteps of […]
VIENNA — Iran’s top nuclear negotiator was heading back to Tehran on Sunday to consult with his nation’s top leadership, as negotiators remained divided over how to limit and monitor Tehran’s nuclear program and even on how to interpret the preliminary agreement they reached two months ago. With all sides now acknowledging the talks would need to continue beyond what was once considered the absolute deadline for […]
|TAP Special| Singapore’s importance as an oil trade centre has received further boost with Platts adopting e a new system from next month for determining oil product values with reference to loadings out of the city state as well as Malaysia. This is expected to encourage use of regional oil storage facilities. According to Reuters, the change in how fuel oil, diesel, jet fuel and gasoline are […]
FUJAIRAH // A month on from the fire that tore through the Friday Market in Masafi, shop owners are still waiting for promised financial relief and Government support. Some of those who lost their shops can no longer pay for their children’s schooling while others do not have a home or food to eat. Sayd Abdalmajed, a 35-year-old Bangladeshi trader, lost four vegetable shops and one pottery […]
Few events will be as significant for the world in the next 15 years as China opening its capital borders, a shift that economists and regulators across the world are now starting to grapple with. With China’s leadership aiming to scale back the role of investment in the domestic economy, the nation’s surfeit of savings — deposits currently stand at $21 trillion — will increasingly need to […]
GCC construction … buoyant. GCC construction sector in major growth phase DUBAI, 1 days ago The GCC construction industry foresees growth for the next three years, encouraged by factors such as favourable macroeconomics, positive demographics, and rising tourism activities, said an industry expert. “Higher budget allocation towards construction sector, as part of the strategic vision of the member nations, lends an added push to the industry,” added […]
Wigley … increased focus on HR technology in the GCC. HR technology spend sees spike across ME, Europe DUBAI, 1 days ago Nine out of 10 firms in the Europe, Middle East and Africa (EMEA) region plan to spend the same or more on HR technology this year than they did last year, a report said, adding that 12 per cent of them will hike investment by […]
Five former members of President Obama’s inner circle of Iran advisers have written an open letter expressing concern that a pending accord to stem Iran’s nuclear program “may fall short of meeting the administration’s own standard of a ‘good’ agreement” and laying out a series of minimum requirements that Iran must agree to in coming days for them to support a final deal. Several of the senior […]
As the civil war in Yemen continues, many families say they are living in constant fear. Parents say that their older children have been wetting their beds at night, and that younger ones are so traumatized that they are sent running for cover by the sound of a door slamming. The fighting between Houthi rebels and Saudi-backed government forces has displaced a million people, destroyed cultural heritage […]
A construction site in Doha.Qatar has planned $200 billion in infrastructure spending. Qatar building boom a challenge for foreign firms DOHA, 10 hours, 44 minutes ago Qatar’s plans to splurge $200 billion on infrastructure as part of its 2030 development plan has lured foreign contractors to what promised to be big profits, but project delays and problems with contracts and bureaucracy have left many in difficulties and […]
Endangered wildlife list swells in 2015 OSLO, 17 hours, 2 minutes ago The number of animals and plants at risk of extinction rose in 2015 despite government pledges to improve protection, with species under threat ranging from lions in West Africa to orchids in Asia, a study showed on Tuesday. The Red List of Endangered Species, backed by governments, scientists and conservationists, grew to 22,784 species in […]
JERUSALEM — A United Nations investigation found “serious violations of international humanitarian law” that “may amount to war crimes” by both Israel and Palestinian militants in the Gaza Strip during their bloody battle last summer, according to a report released on Monday in Geneva. The report, written by a two-member independent commission of inquiry and submitted to the United Nations Human Rights Council, said that “impunity prevails […]
The downturn in the helicopter will likely last18 to 24 months, say experts. Helicopter makers upbeat despite slump PARIS, 17 hours, 21 minutes ago Top US and European helicopter executives said this week that the oil price-led commercial helicopter market slump would be temporary and that they will keep investing in new technologies given the sector’s positive long-term outlook. The downturn will likely last 18 to 24 […]
