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ABU DHABI // From exploring the ocean’s depths and deep space to supporting emergency personnel in natural disasters, researchers believe robots are the key to solving many of the world’s most difficult challenges. Unmanned systems have the potential to transform military operations, the way first responders fight fires and how researchers explore the ocean depths, experts have said. The world will also witness greater human-machine collaboration, artificial […]

UAE theme park visitor spending is set to grow six-fold from $105 million in 2016 to $637 million by 2020 as the country opens several new parks as it chases ambitious tourism targets, according to a new report. The International Association of Amusement Parks and Attractions said the UAE is the dominant market in the Middle East and North Africa, the world’s fastest growing region for theme […]

The Supreme Court on Tuesday asked the Centre to submit six reports from various agencies in connection with the investigation into the Panama Papers leak. The apex court has given four weeks’ time to file the reports and said would then decide if the case merits a probe by a special investigation team. The court will take up the matter again on April 18, reported ANI. In […]

SANA, Yemen — An airstrike by a military coalition led by Saudi Arabia on an open market in western Yemen killed at least 16 people, United Nations and local officials said Saturday. The attack late Friday hit a market selling khat, a mild stimulant common in Yemen, setting off a fire and leaving the dead and wounded scattered in the wreckage. هذة المجزرة ارتكبها اليوم #ال_سعود في […]

Dubai, UAE, 9 March 2017: Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has been awarded with “Best Sukuk House” at the EMEA Finance Middle East Banking Awards 2016. The ninth edition of the EMEA Finance Middle East Banking Awards took place at the Conrad Hotel in Dubai recently, and celebrated the regional banking industry’s top achievers. Dubai Islamic Bank is an international leader […]

“It sucks,” says Mike Mayo. One of the more visible Wall Street analysts, Mr Mayo lost his job last week when CLSA, the Chinese-owned broker which had employed him, abruptly shuttered its US research operations. At 4.15pm last Monday, as Mr Mayo tells it, he was summoned to an all-hands meeting. At 4.20pm he and 89 others were let go. He went to FedEx to buy nine […]

ABU DHABI // The UAE topped the GCC in a Gender Progress Index released by business school Insead this week. The index takes a holistic view towards gender issues and includes education, health, labour, politics, power and society. It considers the relative performance of men versus women with no distinction between the two. The findings were discussed at a seminar marking International Women’s Day at the Insead […]

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New York and London are locked in a frantic race to be the main international listing venue for Saudi Arabia’s initial public offering of its state oil company, emerging as clear frontrunners in what is set to be the world’s biggest ever flotation. Executives from the New York Stock Exchange and London Stock Exchange have held talks with Saudi Aramco, the state group valued at as much […]

Tunis and Dubai, March 9, 2017 – Nasdaq Dubai and Bourse de Tunis have signed a Memorandum of Understanding (MoU) to explore collaboration possibilities, including initiatives regarding existing and future issuers and listings on the two exchanges. Ways to promote Islamic capital markets products and solutions will also be considered under the MoU, together with supporting potential links between central securities depositories in the respective jurisdictions. The […]

By Ben Hirschler | LONDON LONDON Scientists have taken a big step toward designing complex forms of life from scratch by constructing five new artificial chromosomes of baker’s yeast, representing a third of the micro-organism’s genome, or genetic blueprint. The international team used computers to create laboratory-made versions of the threadlike structures that carry genetic code inside cells. Synthesizing genomes may alarm some who see biotechnologists “playing […]

A melting pot of nationalities and a new entry visa system to attract professionals has propelled the UAE to the top of the list of the best countries to start a career and study aboard, according to a new survey. The US News and World Report survey, released this week, ranked the UAE 22nd out of 80 countries surveyed for the best countries in 2017. The country […]

|By Matein Khalid| Janet Yellen confirmed the Wall Street consensus that the Federal Reserve will raise its overnight borrowing (Fed Funds) rate at the March FOMC. Wage growth, inflation, crude oil, asset prices, economic data momentum and Trump’s fiscal stimulus all reinforce the dual mandate logic of a rate hike. Only a really awful February non-farm payroll shock (consensus is 200,000 jobs) will avert a rate hike […]

George Osborne will earn £650,000 a year for working four days a month at BlackRock, more than ten times what he is paid as an MP once expected share awards from the world’s largest fund manager are included. The detail of Mr Osborne’s pay at BlackRock, which he agreed to join as an adviser earlier this year, was disclosed in the register of members’ financial interests at […]

DUBAI // The UAE has cracked the top 20 list of countries with the most billionaires for the first time. The Emirates is home to 21 ultra-rich individuals, giving it a ranking of 19, according to the China-based Hurun Global Rich List 2017. “The world today has 5,000 dollar billionaires, assuming that for every one we have found we have missed at least one,” said Rupert Hoogewerf, […]

by March 7, 2017, 11:46 AM EST Royal Bank of Canada closed accounts of about 40 clients and bolstered tax compliance following a review of offshore accounts tied to last year’s leak of records from a Panama law firm. “The review is completed,” J-F Courville, chief operating officer of Royal Bank’s wealth-management unit, said in an interview. “We found out we have a business with good controls, […]

Providing Innovative Financing Solutions to Buyers Interested In Purchasing Residential Units Muscat, March 08, 2017 Sohar Islamic, Bank Sohar’s Islamic Banking Window signed a memorandum of understanding (MoU) with National Mass Housing, a developer of integrated housing communities, to provide preferential Shari’ah Compliant financing solutions to potential Omani’s buyers for purchasing residential units in the upcoming Areej project – phase 2 located in Muscat. The purpose of […]

March 8, 2017 by: Shawn Donnan and Demetri Sevastopulo in Washington ZTE has agreed to plead guilty to criminal charges of violating US sanctions on North Korea and Iran and to pay up to $1.2bn in fines, the largest sanctions-busting penalty levied against a Chinese company by Washington. The Chinese telecommunications group also admitted to obstructing a federal investigation as part of a settlement announced on Tuesday […]

The inner workings of the CIA’s cyber-espionage operations were at risk of being laid bare on Tuesday, after WikiLeaks published what it claimed was the first part of a large trove of documents detailing the US agency’s techniques for hacking into smartphones, internet-connected TVs and other devices. The documents purported to reveal a stockpile of malware used by the CIA to break into some of today’s most […]

New Delhi [India], Mar. 7 (ANI): The Supreme Court on Tuesday will hear the petition seeking a detailed court monitored investigation against the Indian offshore account holders and stock market regulators, whose names had been exposed in the Panama papers leak case. The petition was filed by Supreme Court advocate Manohar Lal Sharma, seeking an apex court-monitored probe into the matter. Many Indian industrialists and celebrities have […]

05 March 2017 Dubai, UAE – HE Ahmad Bin Shafar, CEO of Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, visited Empower’s cooling plants in JVC and JVT to inspect the two giant projects and ensure the efficiency of the service provided to clients. During his visit, HE Bin Shafar reviewed the operational process in the cooling plants, and watched the work […]

· Tasdeer showcased 20 Qatari food and beverage sector companies at Dubai World Trade Center from 26 February – 2 March 2017 · Food and beverage industry valued at more than USD $5 trillion globally, according to estimates · Expo attracted key businessmen, decision-makers and investors from agri-food industry from across the world 05 March 2017· Tasdeer showcased 20 Qatari food and beverage sector companies […]

China’s banking system has surpassed the eurozone’s to become the world’s largest by assets, a sign both of the country’s increased influence in world finance and its reliance on debt to drive growth since the global financial crisis. While China’s gross domestic product surpassed the EU’s economic bloc in 2011 at market exchange rates, its banking system did not take over the top spot until the end […]

Zuma arrives in Indonesia for IORA Summit and state visit TMG Digital | 2017-03-05 12:39:21.0 President Jacob Zuma arrives in Indonesia. Image by: Twitter/PresidencyZA President Jacob Zuma has arrived in Indonesia to attend the Summit of the Indian Ocean Rim Association Business Forum and Leaders’ Summit in the Asian state. He is also on a state visit to the Asian country at the invitation of President Joko […]

China has lowered its annual economic growth target to “around” 6.5 per cent, as Beijing plans to focus on risk control in the final year of President Xi Jinping’s first term.  The figure, down from the government’s target growth range of 6.5 to 7 per cent for 2016, was revealed on Sunday morning by Premier Li Keqiang in his annual “work report” to China’s parliament, the National […]

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