|By Arabian Post Staff| The DIFC Courts announced the passing away of Sir Anthony Colman after a short illness in hospital in England last week. He was appointed as a Judge of the DIFC Courts from 2008, serving as Deputy Chief Justice from June 2010 until his retirement in May 2013. From 2013 onwards, Sir Anthony continued as a Judge at the Courts, overseeing ongoing cases initiated before […]
|By Arabian Post Staff| Fitch Ratings has upgraded DP World’s Limited’s Long-Term Issuer Default Rating (IDR) to BBB+ from BBB and affirmed Short-Term IDR at F2. The rating outlook is stable. This follows on Fitch’s rating upgrade in August 2016 from BBB- to BBB and reflects DP World’s solid performance and stable cash flow generation. Fitch also notes the Group’s flexibility in its expansionary plan to maintain […]
|By Arabian Post Staff| Chinese operators are on track to launch commercial 5G networks by 2020 and are expected to establish China as the world’s largest 5G market by 2025, according to a new study by GSMA Intelligence and the China Academy of Information and Communications Technology (CAICT). The new study ‘5G in China: Outlook and Regional Comparisons’, which was published today at GSMA Mobile World Congress Shanghai, […]
|By Saifur Rahman| Remittance by foreign workers in the UAE rose 7.6 per cent to US$43.81 billion (Dh160.8 billion) in 2016, up from US$40.73 billion (Dh149.5 billion) in 2015, according to the UAE Central Bank. The outflows of the workers’ remittances that were settled through the exchange houses grew 9.4 per cent – by Dh10.1 billion to US$32.17 billion (Dh118.1 billion) despite a slowdown in the economy and […]
|By Saifur Rahman | Executive Editor|Emirates, the world’s largest carrier of international passengers, has raised US$47.43 billion (Dh174 billion) to finance its fleet over the last 10 years, its recently-released annual report for 2016-17 shows. “Having raised Dh174 billion (US$47.3 billion) over the last 10 years, Emirates continues to maintain a well-diversified and evenly spread financing portfolio. Tapping into various sources of funding, both in terms of […]
|By Matein Khalid| The financial markets finally cottoned on the increasingly sordid political realities created by the Trump White House. Trump could well be impeached for obstruction of justice if he tried to pressure FBI Director James Comey to drop an investigation on disgraced General Michael Flynn’s contacts with Russian intelligence before the election. The appointment of a special prosecutor to investigate the scandal means Washington is […]
The completion date for new passenger terminal at Dubai’s Al Maktoum International Airport (DWC) has been pushed back to 2018. Dubai Airports, the owner and operator of DWC and Dubai International Airport (DXB), said in its 2015 statement that it expected the expansion to complete in the first quarter 2017. “The expansion of Dubai World Central’s passenger terminal building from the current five million passengers per year […]
Interested in precious metals investing or storage? Contact us HERE Posted with permission and written by John Rubino CLICK HERE FOR ORIGINAL) By now everyone with an Internet connection is aware of the “ransomware” attack that shut down hundreds of thousands of computers over the weekend. The fact that the onslaught is just beginning — as the military-grade hacking tools developed by […]
Lubna Qassim is no career diplomat, but in her varied legal and political career, she has had the privilege of walking the corridors of power in London and Dubai. These days, as well as being executive vice president and group general counsel for Emirates NBD, Qassim is a member of several corporate boards. Qassim, the eldest of four daughters, credits her business acumen to the fact that […]
A festival, unlike, say, a concert or exhibition, is a contained, utopian world, with a focus on a set of circumscribed pursuits. Like a highbrow summer camp for adults, festivals offer a jot of escapism, a chance to turn our attention away from some of the weightier issues of the past year. What makes them stand apart from other events is the joy of sharing the same […]
Officials in Saudi Arabia have organised a packed schedule for US President Donald Trump’s visit to the kingdom this weekend. In his first official foreign trip, Trump will attend three key summits on May 20-21 in Riyadh, which will be attended by 55 leaders along with representatives from across the Islamic world, according to the official website riyadhsummit2017.org, which also includes a clock counting down to when […]
Their trade ministers will talk on the sidelines of an Asia-Pacific Economic Cooperation (APEC) meeting in Hanoi, Vietnam, where newly appointed US Trade Representative Robert Lighthizer is also due to give more detail of Washington’s trade plans. Uncertainty over those plans after Trump abandoned a trade deal he had compared to the “rape” of America has brought fears of protectionism and strengthened China’s […]
US stocks were on track for their worst session for eight months on fears that US President Donald Trump’s ability to push through his pro-growth policies will be sidelined by deepening political controversy. The Wall Street benchmark fell 1.3 per cent to 2,369 on Wednesday, shedding all its gains for May, with financial stocks the worst hit as the S&P banks index retreated 3.8 per cent. Shares […]
Good morning. Here’s our morning roundup of all the media news you need to know. Want to get this briefing in your inbox every morning? Subscribe here. A few more Americans now know H.R. McMaster, who resembles an aging Mr. Clean with horn-rimmed glasses. But they don’t know him nearly as well as Tom Ricks. His journalism experience reveals a distinct reason to doubt McMaster’s defense of […]
Over the years, although the government has remained broadly authoritarian, it has oscillated among degrees of democracy. Those fluctuations, while subtle, have often coincided with elections like Friday’s. Photo Ayatollah Khomeini, the leader of the Iranian revolution, returning to Tehran in 1979 after his exile in France. Credit Gabriel Duval/Agence France-Presse — Getty Images Islamic Republic: Yes or No? After throwing off their government in 1979, Iranians […]
● Trump controversies rattle nerves● Dollar index hits fresh six-month low● S&P 500 futures slide, dragging down other equity benchmarks● Yen, gold and Treasury prices rise as traders seek havens● Oil relapses after strong rally The dollar is sliding to six-month low and US equity futures are in retreat as investors fret that president Donald Trump’s ability to push through his mooted pro-growth policies is under threat. […]
The first time China attempted to build a large passenger jet, it tried — and failed — to reverse-engineer a Boeing 707 that crash-landed in Xinjiang in 1971. The latest vehicle for China’s aviation dream, the Comac C919, has just completed its first test flight after Beijing decided to take a different path: buying parts from European and US aviation companies rather than stealing their technology. After […]
Riyadh, 16 May 2017: Under the patronage and inauguration of H.R.H Prince Faisal Bin Bandar Bin Abdulaziz Al Saud, Governor of Riyadh, Al Jazirah Vehicles Agencies has opened successfully the world’s largest Ford’s dealer showroom in Riyadh branch of Al Jazirah Vehicles, the sole authorized dealer of Ford and Lincoln vehicles in Saudi Arabia, located on Khurais road. The opening was attended by a number of officials, […]
Saudi Aramco plans to sign agreements with at least 10 companies including General Electric Co. and oil field-service businesses Schlumberger Ltd. and Halliburton Co. when President Donald Trump visits Saudi Arabia, according to two people familiar with the matter. The world’s biggest crude oil exporter plans to sign accords also with Baker Hughes, KBR Inc., Jacobs Engineering Group Inc., Nabors Industries Ltd., Weatherford International Plc, McDermott International […]
Investors have accelerated their buying of European financial assets in the wake of Emmanuel Macron winning the French presidency, but a top executive at one of the world’s biggest asset managers cautions that the region’s stock markets aren’t as cheap as they appear. European equity funds enjoyed their strongest week of inflows on record last week — pushing the EuroFirst 300 index up 3.7 per cent this […]
“I have been there and, believe me, I have been afraid.” This was how the first African-American Arctic explorer, Matthew Henson, described his expeditions to the North Pole in 1912. It is a feeling novelist Laline Paull can empathise with, for totally different reasons. During her trip to the Arctic, which became the inspiration for her fascinating new novel, Paull’s paralysing fear came from the obvious effects […]
The blockbuster listing of Ant Financial, the payments affiliate of Alibaba, has been put on ice until the end of next year at the earliest, according to bankers. Market players have been counting on Ant, which runs China’s popular Alipay mobile payments service, to be the star in this year’s initial public offerings calendar. It was valued at $60bn in its last financing round in April 2016, […]
Abu Dhabi’s Mubadala Investment Co. plans to invest as much as $15 billion in SoftBank Group Corp.’s Vision Fund and start two new venture capital funds to build its technology holdings. The SoftBank fund will be “wrapped up” in two to three weeks with about $95 billion of commitments, according to Ibrahim Ajami, head of venture capital at Mubadala Capital, the sovereign wealth fund’s investment arm. Mubadala plans to […]
Italy’s Atlantia has launched a bid to buy its Spanish rival Abertis in a deal that values the target at €16.3bn and would create one of the world’s largest toll road and infrastructure companies. Atlantia announced its bid on Monday even though it did not have the full backing of the Abertis cornerstone shareholder Criteria, the Barcelona-based holding of the powerful Caixa foundation. The offer is structured […]
