By James M. Dorsey Saudi Arabia has taken multiple steps to polish its tarnished image in advance of this weekend’s hosting of the virtual summit of the G20 that groups the world’s foremost economies and in anticipation of an incoming Biden administration in the United States that is expected to be critical of Riyadh and potentially more conciliatory towards Iran and non-violent Islamists. The initiatives target US and European […]
By Saifur Rahman Emirates Group, which operates Emirates Airline — the world’s largest carrier of international passengers – reported a US$3.8 billion (Dh14.1 billion) loss in the first half of its 2020-21 financial year starting April 1 to September 30, 2020, with a 74 percent fall in revenues to US$3.7 billion (Dh13.7 billion), down from US$ 14.5 billion (Dh53.3 billion) during the same period last year, due to […]
Arabian Post Staff IMF Managing Director Kristalina Georgieva has praised GCC countries for what the have done on the digital front. Speaking at the Meeting of the Ministers of Finance and Central Bank Governors of GCC, she said full standalone 5G wireless in the region will enable remote work, education, telemedicine, and e-government. “You can pursue with even more imagination the application of technologies to be even […]
By K Raveendran The ongoing investigations into the sensational case of gold smuggling through the diplomatic channel provide a live example of the nexus between gold, drugs, dirty money and havala. All preliminary findings point to a ‘standard operating procedure’ followed across the world by the underworld, as highlighted in what has been called the FinCEN files, just published by the International Consortium of Investigative Journalists (ICIJ). […]
DUBAI, 31st August, 2020 (WAM) — The Dubai Chamber of Commerce and Industry has announced the winners of 5th Dubai Smartpreneur Competition during a virtual event, which saw 10 shortlisted start-ups from the UAE and abroad pitch their businesses to an expert panel of judges. ProvenMed, a UAE-based medical devices innovation start-up, was named the first-place winner, Callix, a UAE-based start-up offering intelligent cloud-based call answering solutions, […]
As we celebrate the sixth Emirati Women’s Day, it is evident that the year 2020 has been exceptional. Some of the many remarkable plans the UAE had intended for this year included the launch of the Mars mission in July, the commissioning of the first nuclear energy plant in the Middle East in Abu Dhabi shortly thereafter, and the inauguration of Expo 2020 Dubai – the largest […]
The initiative empowers grassroots social innovators with funding and guidance to improve lives, their communities and the environment. WAM Expo 2020 Dubai has joined forces with the Bill & Melinda Gates Foundation to support grassroots innovators with the ambition and potential to improve the lives of people across a variety of complex, fragile or marginalised humanitarian settings, organisers announced at the end of the fifth Expo 2020 […]
By Matein Khalid While brick and mortar property in Dubai is in a vicious bear market spiral, the COVID pandemic has been a dramatic money making opportunity in the shares of industrial property landlords. I had recommended the shares of Prologis (PLD), the NY listed logistics REIT at $60 on April 15th, 2018 and had it published in my media columns in the GCC and Britain. Prologis […]
Arabian Post Staff Dubai International Financial Centre (DIFC) has signed a Memorandum of Understanding (MOU) with Jiaozi Fintech Dreamworks, one of China’s first Fintech innovation and entrepreneurship platforms. The MOU will enable the DIFC to further support the UAE in facilitating the ‘Belt and Road’ economic initiative and forms a central part of the Centre’s 2024 strategy to strengthen relationships with the international financial community and increase […]
Arabian Post Staff Dubai and Sharjah have won endorsement by the the World Travel & Tourism Council (WTTC) for using to the world’s first ever global safety and hygiene stamp, launched the world travel and tourism organization. Other popular holiday hotspots achieving this include Indonesia and Spanish summer sun destinations including Alicante and Benidorm. WTTC, which represents the global travel & tourism private sector, created the Safe […]
By Matein Khalid In the past 18 years, after a series of spectacular and occasionally failed rocket launches, Elon Musk’s SpaceX has emerged as Silicon Valley’s next colossus, a once in a generation business in the same league as an Amazon, a Google or a Microsoft. SpaceX’s current funding round values the company at a pre-money valuation of $42 billion. Yet the cognoscenti of Wall Street and […]
Arabian Post Staff The first WHO enlisted global clinical Phase III trial of Sinopharm CNBG’s inactivated vaccine to combat COVID-19 has started in Abu Dhabi and has been inspired by the UAE leadership’s vision and commitment to overcome the pandemic through a global collaborative effort. Sheikh Abdullah bin Mohammed Al Hamed, Chairman of the Department of Health, Abu Dhabi, was the first individual in the world to […]
Citing the pandemic as the primary factor behind the MASSIVE reductions and staff layoffs, Emirates airline has announced that it will cut off 9,000 more jobs as a result of the COVID-19 global crisis. Prior to the coronavirus pandemic, Emirates had a total workforce of 60,000 which the Dubai state-owned airline is planning to shrink by 15-20%. These drastic measures are being taken as the world’s largest long-haul carrier struggles […]
Building on the success of its portfolio of Indian Rupee (INR) product suite, the Dubai Gold & Commodities Exchange (DGCX) will be launching a Weekly INR-US Dollar (USD) Futures Contract. The new contract will go live on Friday, 10th July 2020. The DGCX’s INR product suite includes its flagship Monthly INR Futures, INR Options, INR Quanto Futures, and Mini INR Futures Contracts. The new Weekly INR Futures Contract […]
By Arabian Post Staff The Dubai Gold and Commodities Exchange (DGCX) today confirmed the launch date of its three FX Rolling Futures contracts – Euro (EUR), Pound Sterling (GBP) and Australian Dollar (AUD) against the US Dollar (USD). The contracts will go live on Monday 6 July, 2020, and will expand its suite of currency products that include G6 and Indian Rupee contracts, with the latter being […]
By James M. Dorsey A Turkish-US business council is projecting Turkey as a trading alternative to China with the help of influential US Republican Senator Lindsey Graham, a close associate of President Donald J. Trump. The Turkish effort comes two weeks after President Recep Tayyip Erdogan heralded a new era in long-strained relations with Washington. Mr. Graham’s agreement to participate in a webinar organized by the Turkey American Business […]
By Manish Rai Recent protests in Beirut over government corruption and mismanagement of the economy quickly escalated into rioting and violence that included clashes between Shi’ite Hezbollah supporters and demonstrators. Protesters poured into the streets of the Lebanese capital to decry the collapse of the economy. Moreover, there are now renewed calls from various sections of the society for the total disarmament of the powerful Hezbollah which is […]
Arabian Post Staff The United Arab Emirates moved up two points to 19th rank globally in the 2020 Kearney Foreign Direct Investment (FDI) Confidence Index, up from 21st place when it was last represented in the index in 2017. The country’s ranking reflects positive investor sentiment based on the government’s strong commitment to economic diversification, innovation, infrastructure and ease of doing business – among other factors. Positive government […]
