ABU DHABI // Concerns about the UAE’s food security should not be believed, according to the chief executive of a food retail company. Wisal Ahmed, who heads the Alam Group, which owns the eponymous supermarkets, said the country had sufficient resources to take care of any unforeseen circumstances, whether man-made or natural. A UK-based research centre, Chatham House, published a report in November last year in which […]
Nasser Al Sayer, chairman of NBK NBK to sell IBQ stake to Qatari investors for $538m KUWAIT, 1 days ago National Bank of Kuwait (NBK) has agreed to sell its 30 per cent stake in its Qatari associate, International Bank of Qatar (IBQ), to Qatari investors in a transaction worth $538 million (KD155 million), at a $87 million profit. Nasser Al Sayer, chairman, highlighted that this transaction […]
Emaar Malls Group jumps 20pc on listing DUBAI, 1 days ago Shares in Dubai’s Emaar Malls Group (EMG) jumped in early trade on Thursday as the stock started trading on Dubai’s main stock exchange and drained liquidity from the rest of the emirate’s market. EMG shares, which were sold at Dh2.90 in the heavily oversubscribed $1.6 billion initial public offer, rose 13.8 per cent to Dh3.30 after […]
A trading screen on the floor of Dubai Financial Market shows the bid and offer levels for Emaar Malls Group shares. Asa Fitch for The Wall Street Journal Shares of Emaar Malls Group started trading on the Dubai Financial Market on Thursday, marking the first significant new share sale in Dubai since the global financial crisis. Emaar Malls isn’t a big deal globally. But traders here say […]
|By K Raveendran| The run-away success of Alibaba’s blockbuster IPO is seen inspiring other online players to take similar routes. Among the probable candidates is leading online trading and investment entity Saxo Bank. “The IPO is one of the options the management has under consideration,” Jakob Beck Thomsen, CEO of Saxo Bank Dubai, told The Arabian Post. But he refused to commit himself on a specific time […]
By Kalyani Shankar While there could be debate about the success of Prime Minister Narendra Modi’s five day visit to the US this week, there can be no doubt that he had conquered the 3 million strong Indian American community. The Madison square garden rock show on Sunday was a shining example to prove this. Although his meeting with the US President Obama was spent on substantive […]
|By TAP Staff| DIFC-based Henyep Investment Bank announced the addition of a large selection of international stocks, into its product list. Clients looking to invest in stocks of companies listed in matured equity markets like the US, UK and Hong Kong will now be able to trade over 100 international stocks, according to a release. Equity markets are riding a wave of renewed investor confidence due to […]
By S. Sethuraman The Reserve Bank of India’s Fourth Bi-Monthly Monetary Policy Statement on September 30 does not offer any hint of monetary easing in the near future, again citing risks to lowering at present the policy lending repo rate from 8 per cent it has maintained since April, in the current fiscal year. This leaves all other policy rates and reserve ratios unchanged, (reverse […]
Barjeel Data Centre…IT hub for operations Mercury Mena wins data centre project in Abu Dhabi MANAMA, 7 hours, 15 minutes ago Mercury Middle East and North Africa, a leading mechanical, electrical and plumbing (MEP) company, has won a deal to provide the turnkey solutions for the new data centre for the National Bank of Abu Dhabi (NBAD). The Barjeel Data Centre will service as the information technology […]
By L.S. Herdenia BHOPAL: Brisk preparations are on for the mega investors’ summit to be held in Indore in the first week of October. Chief Minister Shivraj Singh is hopeful that the summit will open the doors for massive investments in Madhya Pradesh. Almost all the important and leading industrial houses of the country are likely to be present in the summit. According to a government spokesman, […]
|By TAP Staff| Shareholders of Dubai’s Amlak Finance have approved the issuance of a sharia-compliant instrument convertible into its stock worth up to 2.1 billion dirhams ($571.8 million), a statement from the mortgage provider said on Sunday. The instrument is a key part of the company’s $2.7 billion debt restructuring plan, agreed with creditors in August. Amlak, whose shares have not traded on the Dubai Financial Market […]
Forum focus on strategic planning MANAMA, 3 hours, 42 minutes ago The third edition of the Arab Gulf Forum for Strategic Planning will open in Bahrain on November 18, a report said. Bahrain Society for Strategic Planning and ActSmart will co-organise the three-day symposium at Sofitel Bahrain Zallaq Thalassa Sea and Spa, reported the Gulf Daily News, our sister publication. Forum secretary general Dr Fahd Ibrahim Al […]
BBK relaunches training plan for Bahraini graduates MANAMA, 6 hours, 22 minutes ago BBK, a leading bank in the Middle East, has announced the relaunch of its management trainee development programme, as part of its ongoing talent development and succession planning strategy. The bank has developed this programme to identify and foster future leaders in the banking Industry, reported the Gulf Daily News, our sister publication. This […]
FTTH Council to host 6th annual conference DUBAI, 3 hours, 27 minutes ago Fibre to the Home (FTTH) Council Mena, has announced the launch of its sixth annual conference in the UAE under the theme of ‘FTTH – The Rise of Smart Nation’.According to a 2013 study conducted by the council, UAE has the highest penetration rate in the world of fibre to the home connectivity for […]
Mobily rolls out new iPhone 6 models RIYADH, 3 hours, 30 minutes ago Mobily, a leading teleom operator in Saudi Arabia, has launched the new iPhone 6 and iPhone 6 plus mobile phones in selected cities of Riyadh, Jeddah and Al-Khobar. There was a solid rush at the Mobily outlets on Saturday among the cutsomers who wanted to lay their hands on ‘the most sophisticated and advanced’ […]
Al Sudairy … GEMS is a leading player Saudi group buys waste management firm for $300m RIYADH, 1 days ago Jadwa Waste Management Opportunities Fund, a unit of leading Saudi Arabian private equity house and investment bank Jadwa Investment, has acquired Global Environmental Management Services (GEMS) together with its co-investment partners in a deal valued at around $300 million. The acquisition was funded by funds managed by […]
Genesis offers financial monitoring class DUBAI, 1 days ago Genesis Institute, a leading financial trainer, has launched courses in financial monitoring for businesses to enable them to analyse their performance, reduce losses, improve profits and detect accounting fraud. “You don’t have to be a finance expert in order to see when you’re business is in jeopardy and in fact, it is crucial to be able to tell […]
Deloitte Middle East hires 700 new staff BEIRUT, 2 days ago Deloitte Middle East, a leading provider of audit, tax, consulting, and financial advisory services, hired 700 new people this year while continuing to deliver double digit growth, said the company’s chairman and chief executive. “The firm is also investing heavily in its internal systems and in developing world-class expertise in such areas as cyber security, Private […]
Stephen Fry has boasted of taking drugs in royal palaces and famous hotels Photo: REX FEATURES Someone once called Stephen Fry “a stupid person’s idea of what a clever person is like”. Which is unkind: there’s nothing wicked about being a bit stupid, or admiring celebrities who seem brainy and cuddly, or enjoying a faux-donnish, avuncular figure who admits his problems with depression and makes you feel as […]
A warning by Iraq’s prime minister that Islamist militants planned to attack New York City sent political leaders scrambling on Thursday to assure the public it was safe to ride the subways and travel the streets of the nation’s largest city. New York Governor Andrew Cuomo and New York City Mayor Bill de Blasio each had the same idea – take a subway ride to a busy […]
Leading Saudi IT firm achieves 20pc growth RIYADH, 21 hours, 18 minutes ago Al Falak Electronic Equipment & Supplies Company, a leading IT and communications solution provider, said it has registered a growth average of 20 per cent for the last three years. The company has been witnessing continuous growth in its operations in both Saudi Arabia and the rest of the GCC region over the last […]
Brocade unveils Vyatta SDN controller DUBAI, 21 hours, 28 minutes ago Brocade, an American technology company specialising in data and storage networking products, recently introduced the Brocade Vyatta Controller as part of the company’s strategy that delivers an open and modular networking platform for cloud service providers. The Software-defined networking (SDN) controller from Brocade that is scheduled for general availability in November this year is a key […]
Firms with women at top ‘perform better’ LONDON, 1 days ago Companies with higher female participation at board level or in top management exhibit higher returns, higher valuations and higher payout ratios, a report said. While the representation of women in management positions and on the boards of companies is similar, it is qualitatively different in its makeup, added the CS Gender 3000: Women in Senior Management […]
Demonstrators outside the Barbican make their views clear during a protest against ‘Exhibit B’ Photo: Demotix On Wednesday night, I was planning to visit the Barbican with a couple of artist friends, two African Americans from New York. We wanted to see Exhibit B – an installation which involves actors in various tableaux depicting the degradation and the horror suffered by the victims of the Atlantic slave trade. […]
