When the direct trading link between stock markets in Shenzhen and Hong Kong opened this month, local dignitaries were easy to spot at the launch events. Less conspicuous were international investors ready to take advantage of what was billed as a big opportunity to buy into Chinese equities. The link offers foreign investors greater access to shares on the Shenzhen Stock Exchange, home to some of China’s up […]
As president-elect Trump plays Boeing and Lockheed off against each other, China flexed its military muscles once again – after sending its aircraft carrier Liaoning into the western Pacific – by testing the latest version of its fifth-generation stealth fighter, state media reported on Monday, as it tries to end the West’s monopoly on the world’s most advanced warplanes. As The South China Morning Post reports, the […]
Submitted by Mike Krieger via Lberty Blitzkrieg blog, Today’s piece should be seen as a bit of a followup to yesterday’s post, India’s Demonetization Debacle Highlights the Dangers of Monetary Monopoly. While yesterday’s piece was more philosophical/strategic in nature, today’s zeroes in on some of the devastating real world impacts of Narendra Modi’s insane and inhumane cash ban. It’s hard to overstate the damage this policy has done to […]
After a two-year experiment with free markets, the pain of low oil prices forced the world’s biggest producers to join forces in 2016 and tackle a global supply glut. Saudi Arabia-led Opec and non-member countries, primarily Russia, agreed after months of discussion and back channel diplomacy to cut production for the first time since the global financial crisis. Prices look set to end the year in the […]
Saudi Arabia expects oil revenue to jump by 46 percent next year following the deal between the kingdom and other producers to curb output and drive up global prices. The world’s top oil exporter expects to collect SR480 billion ($128bn) from oil sales in 2017, compared with SR329 billion ($87.67 billion) this year, the finance ministry said in a budget statement last week. Non-oil revenue will climb […]
As the world’s reaction to news of George Michael’s death at 53 spread on social media, his UAE fans paused to fondly remember the pop legend. Taher Afridi, 36, a Pakistani who was born and raised in UAE, still recalled dancing to his favourite Michael song, Fast Love, when the pop-star played at Abu Dhabi’s Zayed Sports City stadium in December 2008. “There are many reasons why […]
The European Central Bank has said that Monte dei Paschi di Siena’s capital shortfall has risen to €8.8bn from €5bn, significantly increasing the price tag of the rescue of Italy’s third-largest lender by the government. In a statement released late on Monday, MPS also revealed that the ECB had warned that the bank’s liquidity had suffered a “rapid deterioration” over the past month, as it tried in […]
ACE Hardware, the world’s largest hardware retail cooperative, is to open at First Avenue in Dubai’s Motor City, becoming its main anchor retail tenant. The retailer said in a statement that it will operate on the ground floor across an area of almost 6,500 sq ft. ACE stores sell a wide variety of hardware products to maintain and fix homes and businesses. “The pace of demographic growth […]
26 December 2016 Middle East Payment Services (MEPS) – a leading, innovative payment services provider in the Middle East – has formally activated its acceptance of UnionPay cards at points-of sale (POS) across the Kingdom. This step follows the signing of a partnership agreement between MEPS and UnionPay International (UPI), a leading global payment services provider. Under the terms of the agreement, MEPS will not only accept […]
Emirates airline has announced that it will operate the first ever commercial Airbus A380 flight to Morocco and North Africa, when it takes the iconic double decker aircraft to Casablanca on March 26, 2017. The airline’s flagship aircraft will replace the Boeing 777-300ER aircraft currently used on the Dubai-Casablanca route, offering increased seat capacity across all three cabin classes and an enhanced premium product experience. The switch […]
Recently, there has been an increase in anti-Semitic statements at the United Nations. Ambassadors have used its forums to accuse Israel of everything from harvesting the organs of slain terrorists to committing a “final solution” against the Palestinian people. In one case, a United Nations under secretary general has made coded comparisons of Israel’s actions to those of the Nazis during the Holocaust (a common anti-Semitic trope). […]
Over the past year, technology and ‘sharing economy’ start-ups have continued their disruption of traditional industries — from Uber and other ride hailers’ shake-up of the taxi market to Airbnb’s myriad alternatives to conventional hotel stays. But which will be the next businesses to be challenged by further digitisation and automation? FT correspondents have looked ahead five to 10 years to identify those industry sectors and companies […]
China’s land ministry will automatically renew residential leases set to expire next year, temporarily dispelling homeowners’ concerns about an erosion of their property rights. In an announcement at the weekend, the land ministry said that 20-year residential property leases in the eastern city of Wenzhou would be automatically extended without charge, ending speculation that homeowners would face steep renewal fees equivalent to one-third of their property’s value. Ever […]
A Dubai-based developer has announced a partnership with wellness real estate and technology firm Delos to introduce wellness inspired homes to the UAE over the next five years. MAG Property Development said the first project to be carried out by the partnership will be the residences at MAG of Life Creek Resort, the world’s largest wellness concept in Dubai Healthcare City phase 2. The MAG of Life […]
Your daily guide to community and cultural activities across the Emirates for December 26, 2016, including Christmas attractions, food markets, art exhibitions, fitness events, performances, film screenings and family fun. newslide Abu Dhabi Film screening Catch a screening of The Patience Stone. The film is about a young woman in a country torn apart by war, who watches over her comatose husband and begins to tell him […]
The UAE is set to be one of the world’s main centres for New Year’s Eve concerts on Saturday, with a variety of gigs in genres ranging from stadium rock and EDM to Arab pop and hip-hop. The locations are as eclectic as the sounds on offer, with mammoth venues such as Abu Dhabi’s du Arena and Dubai’s Meydan Racecourse hosting events along with resorts, restaurants and […]
Mohammed bin Zayed Falconry and Desert Physiognomy School, the first institution in the world to teach original Arab falconry traditions, rules and ethics, has been officially inaugurated in Al Ain City. Named after Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, the project was launched in 2014 to educate future generations about deep-rooted heritage and history of the UAE and the wider Arabian Peninsula. […]
In 300 B.C., Carthage was one of the world’s largest cities with up to 700,000 people living within its walls. The Carthaginian republic was a force to be reckoned with, controlling inconceivable amounts of wealth and land all around the Mediterranean. However, just over a century later in 146 B.C., Carthage was burnt to the ground by the Romans. The destruction of Carthage was so thorough that […]
Written by Ritu Sarin | New Delhi | Published:December 25, 2016 4:55 am The Letters of Intent along with the precise quantum of orders to each foreign firm would be finalised soon. The remonetisation drive — and the frantic printing of banknotes — has brought some Christmas cheer for some of the world’s largest currency paper suppliers. Over Thursday and Friday, principals of eight foreign firms were […]
Region’s Largest Financial Advisor Observes “Troublingly Low” Penetration Rates across the Country Key Benefits Include Medical Emergency Coverage, as well as Compensation for Flight Delays and Loss of Personal Belongings 22 December 2016 Dubai, United Arab Emirates UAE holidaymakers are putting themselves at increased risk of facing serious financial repercussions by not taking measures to adequately cover themselves in the event of a travel emergency, experts […]
The haiku is a powerful poetic form derived from the original Japanese style, with its structured three lines of five, seven and five syllables. David Lanoue, haiku poet and author, defines it as: “A one-breath poem that discovers connection.” They’re beautiful but not something you expect to find many of in the FT. However, in a fit of experimentation earlier this year, we created an algorithm that […]
Mohammed Ahli: Our airports are gearing up to serve up to 146 million passengers by 2025 Via Dubai Security Supplement features Angela Gittens of ACI and Michael Herrero of IATA Dubai, December 22, 2016: Highness Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority (DCAA) and Chairman of Dubai Airports, said Dubai has successfully transformed innovation into a working culture in the government […]
|By Arabian Post Staff| Dubai saw a 11 per cent surge in the total volume of traded goods in the first nine months of 2016, rising as high as 70.82 million tons of commodities. Imports had the lion’s share at AED 594 billion (46.81 million tons and 12% increase), while exports and re-exports accounted for AED 109 billion (11.84 million tons and 8% increase) and AED 249 […]
A round up of some of 2016’s most significant corporate events and news stories. Smartphone sales © EPA A bright start to the year for Samsung Electronicswent up in smoke, after it took the unprecedented decision to axe its Galaxy Note 7 line, following a spate of safety issues that saw the smartphone banned from aircraft, writes Nic Fildes. The 2016 Galaxy Note iteration won substantial praise […]
