By Christina Farr and Edwin Chan SAN FRANCISCO Wed Sep 3, 2014 7:44am IST The Apple logo is pictured at a retail store in the Marina neighborhood in San Francisco, California April 23, 2014. Credit: Reuters/Robert Galbraith/Files SAN FRANCISCO (Reuters) – Apple Inc (AAPL.O) has often displayed uncanny timing, with its well-orchestrated end-of-year iPhone releases. But the leak of racy celebrity photos in the past few days […]
Islamic debt could become a source of funding for U.K. infrastructure projects from wind turbines to high-speed trains and airports as Britain cements its position as the first sukuk market in a non-Muslim nation. Investors including Bank of London and the Middle East see scope for the U.K. to issue Shariah-compliant bonds with varying maturities after the Debt Management Office attracted bids for more than 10 times […]
Italian airline Alitalia and Etihad Airways are expected to win EU regulatory clearance for their tie-up by the end of the year with minor concessions, a person familiar with the matter said on Tuesday. Abu Dhabi-based Etihad clinched a deal last month to buy 49 percent of loss making Alitalia in a 1.76-billion-euro ($2.31 billion) rescue plan, giving it access to Europe’s fourth-largest travel market and 25 […]
By Robert Mattei: In general I avoid debt. I had one car loan in my life, for my first car, and I borrowed that money from my dad. I pay my credit cards in full every month. I paid off my one and only mortgage in seven years. So writing this article goes against my grain. However, if you believe that today’s low interest rates and inflation […]
Secretary-General Hassan Al-Thawadi (3rd L) of Qatar’s Supreme Committee for Delivery and Legacy, the nation’s 2022 World Cup organising committee, speaks during a news conference to announce the start of work on the Al-Khor Stadium in Al-Khor in June. Reuters Investors in Qatar are likely to hold their breath, and cash, this month: Well, at least until FIFA reports on its investigation of the bidding process for […]
Emirates said it’s ready to play the long game in seeking to add routes in Germany, one of the few major travel markets that the world’s No. 1 airline by international traffic is struggling to penetrate. Emirates, which has overcome the modest population of its home base by building Dubai into a long-haul transfer hub, can serve only four German cities under a bilateral air-services accord dating […]
Meraas Holding, a state-owned property firm that is developing some of Dubai’s most ambitious real estate projects, is in talks with banks to raise up to $4 billion, sources aware of the matter said on Monday. Dubai has bounced back rapidly from a debt crisis in 2008, when property prices fell by more than half, and state-linked property companies have started work on several major projects in […]
A logo of Emaar is seen near the Dubai Mall Reuters Emaar Properties plans to float at least 15% of its profitable and fast-growing malls business in a September IPO. The chances are high though that Dubai’s flagship developer may sell an even bigger stake. It all depends on getting the right valuation for Emaar Malls Group. After all, Emaar will be cutting its own stake in […]
|By TAP Staff| King Abdullah bin Abdulaziz of Saudi Arabia warned that terrorists will target the West if the world does not unite to confront them. King Abdullah made the statement during a presentation of credentials ceremony held in Jeddah yesterday for new ambassadors to Saudi Arabia, including U.S. Ambassador Joseph W. Westphal. “If neglected I’m sure they [terrorists] will reach Europe in a month and America […]
By Eric Parnell, CFA: The market news coverage is becoming increasingly polarized. On one side of the debate are those that believe the sky is the limit for stocks in the months ahead. With stocks reaching a fresh all-time high on Friday, this view has yet to be invalidated. On the other side of the discussion are those that expect a significant stock market pullback is not […]
KUWAIT. A recent report issued by KFH Research, a subsidery for KFH Group, sees continued positive outlook for the Kuwaiti construction industry, on the back of strong domestic demand in the Kuwaiti economy and a pick-up in government capital spending. Overview and Outlook “While we remain fundamentally cautious about the country’s medium-term investment outlook, we note that higher growth in bank lending over the last few months […]
“We have to be honest, we weren’t able to finish it the way we wanted,” said Kassem Eid, a Syrian rebel who has joined the opposition in exile. By ANNE BARNARD August 29, 2014 BEIRUT, Lebanon — As he rode onto the base of the Fourth Division, the formidable Syrian Army unit that had been starving and bombarding his town near Damascus for months, Kassem Eid prepared for a […]
First-time sellers of bonds that adhere to Islam’s ban on interest are poised to revive an industry suffering its worst quarter in more than four years. Luxembourg and Hong Kong aim to market debut offerings of sukuk next month, while Kenya, South Africa, Bangladesh and Tatarstan have announced plans for maiden issues. Islamic bond sales have fallen 82 percent to $2.6 billion this quarter compared with the […]
The Floating Cinema drops anchor on the Grand Union Canal at King’s Cross, London Photo: HYDAR DEWACHI ‘It’s really captured people’s imagination,” enthuse producer Anna Ramsay and curator Laura Harford as they sit on the deck of the Floating Cinema, their 60ft wide-beam canal boat fitted out as a mini-Odeon. “I think it’s because it’s something so unusual, not at all what they expect to see on a […]
Occidental Petroleum Corp. (OXY) is in talks to sell a $3 billion stake in a gas field to Abu Dhabi-owned Mubadala Development Co., Petroleum Intelligence Weekly reported, without saying where it got the information. The companies are discussing the sale of as much as 30 percent of the $10 billion Shah natural gas project in the United Arab Emirates, the newsletter reported. Two officials at Mubadala’s media […]
A revival of international bond issues from the Gulf is set to draw heavy demand from local and foreign investors, despite the latest geopolitical upheavals in the Middle East and the approach of higher U.S. interest rates. Gulf bond issuance has dried up since early July, because of a traditional summer lull in local investor activity as well as global market instability due to the crisis in […]
NEW DELHI: Government has started the process for setting up four new ultra mega power projects in Bihar, Jharkhand and Odisha, which will together add 16,000 MW capacity to the country’s power generation. UMPP is a thermal power project of at least 4,000 MW capacity, with an approximate investment of Rs 25,000 crore. Power Finance Corporation, the nodal agency for ultra mega power projects (UMPPs), […]
INTERNATIONAL. U.S. special operations forces made a failed attempt to rescue journalist James Foley and other Americans held hostage by Islamic extremists in Syria earlier this summer, the White House said in a statement. The secret mission was authorized by President Barack Obama after the administration’s national security team concluded that the hostages “were in danger with each passing day,” said Lisa Monaco, Obama’s assistant for homeland […]
DUBAI—Saudi Arabia’s regulator on Thursday issued a set of draft rules for foreigners ahead of the long-awaited opening of its $580 billion stock market to international investors next year. The Capital Markets Authority said a qualified foreign investor must be a bank, brokerage, fund manager or insurance company with at least $5 billion in assets under management, a requirement aimed at attracting more stable and experienced institutional […]
U.K. authorities recovered more than 300,000 pounds ($498,000) from the sale of a convicted drug trafficker’s home in Dubai in the first such confiscation involving the United Arab Emirates. The apartment in Dubai Marina was owned by Redwan El-Ghaidouni, 37, who was convicted at Kingston Crown Court in March 2011 on drug charges, the Crown Prosecution service said in a statement on its website. A confiscation order […]
|By TAP Staff| Abu Dhabi, along with London, Shanghai, San Fransisco, Mumbai and other global cities, will be the venue for the meeting of Global Opportunity Network panels to discuss how the pressure for change can be used to create more resilient and sustainable societies. Global Opportunity Network has presented five risks that will inspire this year’s opportunity panels. The Abu Dhabi meeting will take place on […]
Tim Vine: king of the one-liners Photo: Geoof Pugh/The Telegraph ‘What makes a one-liner work?” Tim Vine was asked on BBC News last week. “Er . . .” blinked the 47-year-old comedian. “It can only be one line and it has to be funny.” Thus are trade secrets preserved, and we are left to figure out for ourselves why Mr Vine’s latest effort won the prize for the funniest joke […]
Most of the rest of the world is horrified that so much British ice cream is made up of vegetable fat and air Photo: REX FEATURES The Ice Cream War was one of Scotland’s most notorious criminal cases. It involved two rival Glasgow families using ice cream vans to sell drugs and stolen goods in the Eighties. The vicious turf war culminated in arson and murder. Now, a […]
(Reuters) – Swiss authorities have warned that a plan by Etihad Airways to buy a third of Switzerland’s Darwin Airline does not meet legal requirements to be approved, as foreign stakes in European airlines come under increasing scrutiny. Switzerland’s Federal Office of Civil Aviation (FOCA) said that Darwin, rebranded as Etihad Regional, has until Sept. 30 to make changes to the agreement, which would then undergo a […]
