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There was predictable consternation in Beijing and among foreign policy experts in Washington. They fretted that Mr. Trump was recklessly undoing the landmark China diplomacy of Richard M. Nixon and Mao Zedong — fears that were misplaced, it turned out. Continue reading the main story Last week, Mr. Trump telephoned President Xi Jinping and promised to abide by “one China,” having discovered that Mr. Xi was not […]

Samsung’s heir apparent Lee Jae-yong has been arrested for bribery, embezzlement and perjury in connection with a massive corruption scandal, in a huge setback for South Korea’s largest conglomerate that could hinder its succession and restructuring plans. The 48-year-old de factor leader of Samsung is the highest-profile business figure engulfed by the influence-peddling scandal that is poised to topple President Park Geun-hye. The arrest of Samsung’s chief […]

ABU DHABI // UAE scientists have uncovered previously unknown genetic mutations that are responsible for rare diseases in Arab children. The discovery will help with the early detection and treatment of some of the world’s most serious and rare diseases, doctors said. Dr Mahmoud Taleb Al Ali, director of the Centre for Arab Genomic Studies (CAGS), which is affiliated with the Sheikh Hamdan bin Rashid Al Maktoum […]

Details have been revealed about plans to build the first Legoland Hotel in the Middle East in Dubai. DXB Entertainments, a Dubai-based company, and Merlin Entertainments Group, one of the world’s biggest theme park and attraction operators, will open the hotel at Dubai Parks and Resorts.  Every room in the first Legoland Hotel in the Middle East and the seventh to open worldwide will have Lego models […]

China ended a six-month streak disposing of its US Treasury holdings in December, adding to its position for the first time since last May as the country’s central bank seeks to manage capital flight. The country, which ceded its status as the world’s largest owner of haven Treasuries in October to Japan, added $9.1bn of US sovereign debt to its reserves in the final month of 2016, […]

Your daily guide to community and cultural activities across the Emirates for February 16, 2017, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. Ellen Fortini rounds up 10 things to do today in the UAE. Want to see your event listed here? Email us with the details and contact information at [email protected] newslide Abu Dhabi Food trucks Love […]

The reflation trade is back, in earnest. On Wednesday, all-world stock indices traded at all-time highs for the first time since spring 2015. US 10-year bond yields rose back to 2.5 per cent. Bank stocks rallied, with Goldman Sachs at an all-time high for the first time in a decade. So did tech stocks — Apple is back at a record. All of this after a hawkish […]

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Choithrams, located under the ‘Fresh cluster’, is the only exclusive supermarket within the gated community. UAE, 15th February 2017 Choithrams, the leading retail brand across the Middle East, is on full expansion swing with the launch of its new store today within the premises of Jumeirah Islands Pavilion, DMCC. The opening saw the outlet flooded with residents excited to see the launch of a supermarket in their […]

Harrison Ford has near-miss with passenger liner Harrison Ford has had a close run-in with a passenger airliner at an airport in California in the United States. The actor, 74, was told to land his single-engine plane on a runway at John Wayne Airport in Orange County, Southern California on Monday, but he mistakenly landed it on a parallel taxiway, passing over an American Airlines jet holding. […]

Submitted by Don Quijones via WolfStreet.com, Spain’s three biggest banks, Banco Santander, BBVA and Caixa Bank, have got off to a flying start this year having issued €8.6 billion in new debt, seven times the amount they sold during the same period of last year. The last time they rolled out so much debt so quickly was in 2007, the year that Spain’s spectacular real estate bubble […]

The Dubai Land Department and Nasdaq Dubai have signed a Memorandum of Understanding (MoU) that will help real estate companies that are considering listing on the stock exchange. The MoU will see the two entities collaborate in order to facilitate the listing of companies that are active in the real estate sector as well as real estate-related asset classes. The agreement also includes a provision to streamline […]

SoftBank’s billionaire founder Masayoshi Son, who has boasted of creating the “Berkshire Hathaway of tech”, has thrown himself into the world of private equity and hedge funds with a $3.3bn acquisition of US alternative asset manager Fortress Investment Group. The deal, which follows the Japanese group’s traditional focus on telecoms and internet, comes just as SoftBank is emerging as one of the world’s largest investors with the […]

When Federal Reserve chair Janet Yellen testifies before a Senate committee on the state of the economy on Tuesday, there will be plenty tuning in who believe the epitaph for the three-decade rally in the bond market has been rightly written. US president Donald Trump’s plan to ramp up government spending and axe corporate taxes threatens to accelerate inflation, push up interest rates and widen the deficit […]

Ambitious plans to boost the UAE’s space programme by encouraging future generations of Emiratis to take up space and scientific research were announced on Tuesday. Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, said the objective of the Mars 2117 Project is to develop the skills and capacities of nationals. “The Mars 2117 Project is a long-term project, […]

Like a scene from “The Jetsons,” commuters in Dubai, in the United Arab Emirates, may soon climb aboard automated flying taxis, soaring over busy streets and past the desert city’s gleaming skyscrapers, all — quite literally — at the push of a button. Passenger drones, capable of carrying a single rider and a small suitcase, will begin buzzing above the emirate as early as July, according to […]

The reaction to a strike at the world’s largest copper mine underlines the sharp reversal in fortune in one of the world’s key metals over the past four months. Copper has jumped 5 per cent in the past two days to a two-year high after a strike at the Escondida mine in Chile raised supply fears about a market that has been starved of investment. The dispute […]

Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum on Tuesday announced the Mars 2117 project which aims to build a miniature city on the Red Planet within 100 years. Sheikh Mohammed, also Vice President and Prime Minister of the UAE, said the UAE was currently among the world’s top nine investors in space science. In a series of tweets accompanied by photos of what it describes as […]

ABU DHABI // The UAE’s ambassador to the United Nations is the second woman to be elected President of the UN Women Executive Board for 2017. Lana Nusseibeh, who will be representing the Asia-Pacific Group at the UN in New York, said UN Women played a critical role within the UN and around the world as a dynamic and strong champion for women and girls. “In the […]

A striking feature of global financial markets since the crises of 2007 and 2008 has been the high propensity of many wealthy private investors to sit out all the turmoil, holding cash in bank accounts rather than in riskier assets. Might that be about to change? The word among bankers in conservative Switzerland — the world’s largest centre for cross-border private wealth management — is that it […]

US markets regulators have delayed enforcement of new derivatives rules due to come into effect in two weeks’ time because few of the hundreds of pension funds, insurers and asset managers affected would be ready in time. There were fears that the widespread lack of readiness to comply could have caused market disruption if they were enforced as planned on March 1. The rules require some derivatives […]

DUBAI // Sustainable travel hit the UAE running on Monday, as US electric car maker Tesla opened for business in Dubai with plans to launch a shop and service centre in Abu Dhabi next year. Chief executive Elon Musk said at the World Government Summit in Dubai that the company planned to invest millions in the UAE on infrastructure including recharging stations. “We expect to invest tens […]

Dubai-UAE: 13 February, 2017  The UAE imports 85 percent of its food at the cost of 15 percent of its GDP. Though this might be a scary thought, it is also an opportunity for this generation to make a real impact, said Caleb Harper on the second day of the World Government Summit 2017 in Dubai. Harper is the Principal Investigator and Director of the Open Agriculture […]

Your daily guide to community and cultural activities across the Emirates for February 14, 2017, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. Ellen Fortini rounds up 10 things to do today in the UAE. Want to see your event listed here? Email us with the details and contact information at [email protected] newslide Abu Dhabi Art exhibition Grace: […]

Apple stock hit a new all-time high on Monday, driven by investor optimism about a coming iPhone sales “supercycle” and hopes that its $230bn in overseas cash might soon be put to greater use. It has taken two years for Apple to surpass its record closing price of $133 in February 2015, despite briefly breaking above that level during intraday trading at $134.54 in April of that […]

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Japan’s Nikkei advances as buyers return after sell-off // Smart home choices widen as compatibility standards advance // Abu Dhabi unveils restored Porsche from royal motorcade // UAE forecasts heavy showers across northern regions midweek // Flydubai Dammam cancellations persist as Etihad extends suspensions // Iran displays school strike memorial at COP31 summit // AI stock rout erodes sovereign and pension holdings // Recognition under the U.S. Green Building Council’s rating system confirms the 22-residence tower is on track for full certification on completion // Google patches actively exploited Chrome XML security flaw // Messi secures consecutive MLS Golden Boots with 26 goals // Jailbroken AI agent targets European telecom infrastructure // FAB takes full ownership of Bahrain fund administrator Yasira // France identifies Iranian Guards as supermarket hacking suspects // Google school AI search policy draws Senate challenge // California electorate defeats proposed levy on billionaire wealth // Moonless skies improve stargazing conditions across northern Saudi Arabia // European refrigeration hacks expose Gulf retail security risks // Thai Airways discloses 60,529 records exposed through Amadeus // FATF unveils measures to dismantle global scam networks // Microsoft 365 Family cuts combined storage to 2TB //