The main US markets regulator on Tuesday approved a plan to introduce a vast surveillance system to monitor trading on the $23tn US stock market, ending six years of delays. The move by the Securities and Exchange Commission sets in motion a timetable to bring to reality its Consolidated Audit Trail, a single data warehouse that collects the millions of orders and quotes that daily pass across […]
DUBAI // Increased female participation in society is a top priority for the UAE, Sheikha Manal bint Mohammed, wife of Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs, said on Tuesday. Sheikha Manal, President of the UAE Gender Balance Council and President of Dubai Women Establishment, said these goals would be achieved through the adoption of legislation and policies that support women. She […]
US President-elect Donald Trump is sending another strong signal that he plans to take a pro-growth and business friendly approach to economic policy, with leading New York investors Steve Mnuchin and Wilbur Ross on his short list for Treasury and Commerce secretary. The pair on Tuesday won the endorsement of billionaire investor and Trump backer Carl Icahn who turned to Twitter after speaking with the incoming Republican […]
Donald Trump’s election victory heralds the beginning of a new era that will be marked by the retreat of globalisation and rising bond yields, according to Bridgewater’s Ray Dalio. Mr Dalio, the founder of the world’s biggest hedge fund group, said in a note on Tuesday that “there is a good chance that we are at one of those major reversals that last a decade”, similar to […]
MARRAKECH // The UAE is investing in “rain-enhancement” as lack of water could become a matter of national and environmental security, meteorologists have told the Conference of Parties 22. Scientists have been looking at techniques such as cloud-seeding and the first annual grant of US$5 million has been awarded to researchers seeking solutions. “Rain enhancement is a possible solution to water security, which is in turn related […]
Sweden’s Riksbank is debating whether to become the first significant central bank to issue a digital currency as it responds to an increasing move away from cash in the Scandinavian country. The world’s oldest central bank — it was the first to issue paper banknotes in the 1660s — is launching a project to examine what a central bank-backed digital currency would look like and what challenges […]
The world’s favourite spy has arrived in Dubai with a licence to thrill – or at least, we have his cars, suits, guns, gadgets and even a few of the women that have helped to make the 24 Bond movies the most enduring film franchise of all time, raking in an estimated US$14 billion (Dh51.4 bn) since Sean Connery introduced us to 007 in 1962’s Dr No. […]
During an interview in his office here, Mr. Omgy acknowledged that his company had provided financial services to Al Qaeda. “We had no other option but to comply with them,” he said. “They were the rulers of the city.” Continue reading the main story But he denied the Treasury Department’s charge that he was a Qaeda member, describing his ties to the group as a business relationship […]
|By Arabian Post Staff|Saudi Arabia’s sovereign wealth fund is considering selling stakes in local companies to raise funds for international expansion, Bloomberg reported quoting people with knowledge of the matter. The Public Investment Fund — with about $100 billion worth of shares in listed local companies including Saudi Basic Industries Corp. and Saudi Telecom Co. — is reviewing the stakes as it seeks to diversify its assets, […]
|By Arabian Post Staff|Saudi Arabia’s sovereign wealth fund is considering selling stakes in local companies to raise funds for international expansion, Bloomberg reported quoting people with knowledge of the matter. The Public Investment Fund — with about $100 billion worth of shares in listed local companies including Saudi Basic Industries Corp. and Saudi Telecom Co. — is reviewing the stakes as it seeks to diversify its assets, […]
14 November 2016 The Middle East and Africa (MEA) will experience the fastest rate of digitization in the world according to analysts IHS Markit. Shipments of LTE technologies* increased by more than 300 per cent in 2015, and the MEA region is projected to be one of the world’s fastest growth markets for TETRA critical communications technology Led by TETRA, the MEA PMR market was the fastest […]
The UAE is to join with the World Economic Forum (WEF) to establish the first permanent policy unit to study and implement measures regarding the “Fourth Industrial Revolution” – the transformation of business and society brought about by technological advances. Mohammed Al Gergawi, UAE Minister for Cabinet Affairs and the Future, announced the initiative at the WEF summit of Global Future Councils in Dubai. He promised full […]
Abu Dhabi, November 14, 2016: Abu Dhabi Islamic Bank (ADIB) and Thomson Reuters announced today the winners of the 4th edition of the Ethical Finance Innovation and Challenge Awards (EFICA). Tirad Al Mahmoud, Chief Executive Officer of Abu Dhabi Islamic Bank (ADIB) presented The EFICA Lifetime Achievement Award to the former governor of Malaysia’s Central Bank, Dr Zeti Akhtar Aziz for her pivotal role in developing the […]
Copper recorded its best week in five years as speculators scrambled to reverse bearish bets following the election of Donald Trump as US president, which boosted hopes for more consumption in the western world. The promise of a big infrastructure programme in the US, following a decade of reliance on China, has driven the market to reassess the outlook for copper and other industrial metals such as […]
Three-dimensional printing may still seem more like science fiction than real-life science, but its use in the medical world is booming, with the number of 3-D printers doubling year-on-year. Traditional prosthetic hands, for instance, can cost anywhere from US$6,000 to $40,000 (Dh22,000 to Dh146,900), but 3-D printing is allowing volunteer groups such as the global, web-based Enable Community Foundation in the United States to offer their bionic […]
Dubai, UAE – November 14, 2016 Gulf Islamic Investments LLC (‘GII’), a UAE based Islamic financial services company, today announced the successful closing of US.$145 million fund raising for “Apttus”, a Silicon valley based company delivering Enterprise Class, Software-as-a-Service (Saas) Solutions to complete the Quote-to-Cash customer process and the Procure-to-Pay supplier process. This is the fourth company out of Silicon Valley for which GII has raised funds […]
|By Arabian Post Staff|The GCC has the potential to become the world’s fastest growing e-commerce playground, according to A. T. Kearney’s ‘Getting in on the GCC E-commerce Game’ report. Despite strong economic fundamentals, the GCC is one of the most underpenetrated e-commerce markets in the world. However, with high levels of disposal income, world-leading internet and smartphone penetration, and changing consumer preferences, there is robust potential in […]
Fear and loathing was the overriding sentiment of fund managers and analysts contemplating the market implications of an unlikely Donald Trump presidency. Instead we have seen hope and excitement as the reality sinks in. What changed? It’s been quite the turnround. The overwhelming finance industry view before Tuesday’s election was that the stock market would tank if Mr Trump triumphed. Going by how equities quivered every time […]
newslide Stan Lee’s company launches new Indian superhero Comic book legend Stan Lee’s POW! Entertainment and Graphic India, an entertainment company, have come out with Mighty Girl, a new female superhero for India. The new Chakra The Invincible and Mighty Girl comics were unveiled on Saturday at the Bengaluru Comic Con. The comic was also done in collaboration with Unicef’s ‘World’s Largest Lesson’ initiative, supported by GEMS […]
Riyadh, Saudi Arabia; November 10, 2016 Consumer confidence in Kingdom of Saudi Arabia (KSA) falls at the optimism baseline as the index decreased by four points from the previous quarter, according to the latest consumer confidence report from Nielsen. The Nielsen Global Survey of Consumer Confidence and Spending Intentions recorded a Consumer Confidence Index of 100 for KSA in Q3 2016, down from 104 in Q2 2016. […]
Photo An Egyptian street vendor in Cairo on Friday. The country is struggling with soaring inflation and shortages of staple foods. Credit Amr Nabil/Associated Press CAIRO — The International Monetary Fund approved a $12 billion loan for Egypt on Friday, in a move intended to stave off economic collapse in the Arab world’s most populous nation as it grapples with a plunging currency, soaring inflation and shortages […]
ABU DHABI // Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, met Dr Klaus Schwab, founder and executive chairman of the World Economic Forum, Davos, who was visiting the UAE to attend the Global Agenda Summit. Sheikh Abdullah welcomed the participation of Dr Schwab at the summit to exchange ideas on the most current issues facing the world, with a view to […]
Saudi Arabia’s government has set aside 100 billion riyals ($26.7 billion) to pay debts that it owes to private sector companies after payment delays that have lasted months, Reuters reported citing an official document. To help curb a huge budget deficit caused by low oil prices, the government of the world’s largest oil exporter has slashed spending and reduced or suspended payments that it owes to construction firms, […]
Warren Buffett has thrown his weight behind scandal-hit Wells Fargo, saying it is “a great bank that made a terrible mistake” whose new chief executive Tim Sloan is “exactly right” for the top job. Breaking his months-long silence on the debacle, the head of Berkshire Hathaway, the bank’s biggest shareholder, confirmed he has not sold any shares after the scandal erupted over sales practices. The famed investor […]
