UAE. A working paper by the International Monetary Fund (IMF) has called for the countries of the GCC to create a dynamic non-oil tradable sector to support sustainable growth. The paper ‘Soaring of the Gulf Falcons: Diversification in the GCC Oil Exporters in Seven Propositions’, authored by Reda Cherif and Fuad Hasanov, says this strategy should be implemented right away, even for the richest GCC countries. Charles […]
SAUDI ARABIA. Jadwa Investment, the Saudi asset manager focused on Sharia’ah compliant mutual and private equity funds, has just issued its Quarterly Global Oil Market Update (Q3 2014). Summary of the report · The combination of accelerating US supply, weaker than expected global demand, stabilization in geopolitics, and an appreciation of the dollar, led to oil prices dropping by 7.3 percent in Q3 2014, to an average of […]
By JEFFREY MARCUS October 3, 2014 After fighters from the Islamic State militant group attacked her village in northern Iraq in August, an adolescent Yazidi girl was abducted, raped several times by different men and then sold in a public market as a sex slave. The episode is one chilling example from a United Nations report released Thursday that details a litany of atrocities committed by Islamic State militants […]
By JEFFREY MARCUS October 3, 2014 After fighters from the Islamic State militant group attacked her village in northern Iraq in August, an adolescent Yazidi girl was abducted, raped several times by different men and then sold in a public market as a sex slave. The episode is one chilling example from a United Nations report released Thursday that details a litany of atrocities committed by Islamic State militants […]
ABU DHABI // Concerns about the UAE’s food security should not be believed, according to the chief executive of a food retail company. Wisal Ahmed, who heads the Alam Group, which owns the eponymous supermarkets, said the country had sufficient resources to take care of any unforeseen circumstances, whether man-made or natural. A UK-based research centre, Chatham House, published a report in November last year in which […]
The planned merger of the United Arab Emirates’ two main stock exchanges, home to the second-best performing share gauge in the world, will take more time to complete, according to a Dubai government official. “It’s still on the table,” Mohammed Al Shaibani, chief executive officer of Investment Corp. of Dubai, the emirate’s main state-owned holding company, said in an interview today at a Dubai conference. “We were […]
DUBAI // The fifth Big Boys Toys arrived in Dubai yesterday, featuring 80 of the fastest and most luxurious products from makers across the globe. From one of the smallest drones to the world’s most expensive bicycle, and with extreme buggies and electronic motorcycles thrown in, there was plenty to keep petrolheads and gadget geeks happy. Hundreds arrived to see what the 65 exhibitors at the three-day […]
Over the past three years, Google’s Android operating system has grabbed a major share of the global smartphone market. But there’s more than one flavor of Android out there, and Google is increasingly finding one flavor being pitted against the other. In one corner is the truly open-source Android, which falls under the purview of Google’s Android Open Source Project (AOSP). When Google launched the project in […]
People frequently use Facebook to update friends and loved ones about health issues. Now Facebook is looking for a way to make health care an integral part of the social media site. Following on the heels of Samsung and Apple, Facebook is planning to create a group of online support communities that would connect Facebook users that suffer with various afflictions. However, the online support communities are […]
To find inspiration for the future in his new role as chief executive of Masdar, Dr Ahmad Belhoul looked at the past. “When you look back a generation or two to our grandparents’ time, they were some of the most sustainable people on Earth,” he said. “They would use water and food only to the extent that they needed.” Appointed as the head of Abu Dhabi’s leading […]
Dubai bourse… marked recovery in economy boosts IPOs Dubai bourse ‘may see further listings by year-end’ DUBAI, 1 days ago The Dubai Financial Market could see one more company list on the stock exchange before the end of the year in addition to the already-announced share sale by a healthcare and education start-up, its chairman said on Thursday. Initial public offerings in the emirate dried up in […]
Emaar Malls Group jumps 20pc on listing DUBAI, 1 days ago Shares in Dubai’s Emaar Malls Group (EMG) jumped in early trade on Thursday as the stock started trading on Dubai’s main stock exchange and drained liquidity from the rest of the emirate’s market. EMG shares, which were sold at Dh2.90 in the heavily oversubscribed $1.6 billion initial public offer, rose 13.8 per cent to Dh3.30 after […]
VW is unveiling their XL Sport concept this week at the Paris Motor Show, a fuel-sipping Audi A8 look-alike with butterfly doors that’s powered by an 1199-cc Ducati Superleggera V-twin. Its top speed of 168MPH with just 200 horsepower is achieved through ultra-streamlined aerodynamics. A .258 drag coefficient actually makes this the most aerodynamic sports car in the world.-Werd
Regal position: escorting the Queen to Ladies Day at Royal Ascot Photo: Rex Features Forget Downton Abbey and Upstairs Downstairs. This week, we have had a glimpse behind the scenes of a real-life royal household, with the news that The Queen has been advertising for someone to remove chewing gum from the floors and furniture at Holyrood House. Her Majesty’s chosen cleaner must be available to prise pink […]
A trading screen on the floor of Dubai Financial Market shows the bid and offer levels for Emaar Malls Group shares. Asa Fitch for The Wall Street Journal Shares of Emaar Malls Group started trading on the Dubai Financial Market on Thursday, marking the first significant new share sale in Dubai since the global financial crisis. Emaar Malls isn’t a big deal globally. But traders here say […]
|By K Raveendran| The run-away success of Alibaba’s blockbuster IPO is seen inspiring other online players to take similar routes. Among the probable candidates is leading online trading and investment entity Saxo Bank. “The IPO is one of the options the management has under consideration,” Jakob Beck Thomsen, CEO of Saxo Bank Dubai, told The Arabian Post. But he refused to commit himself on a specific time […]
AirAsia is in talks to relaunch flights to the United Arab Emirates from its hubs in Southeast Asia, and has this time chosen Dubai rather than Abu Dhabi for its Western expansion. The low-cost airline’s founder Tony Fernandes was in Dubai Wednesday to talk to officials about flying Airbus Group NV A330 jets into one of the emirate’s two airports, Dubai International or Al Maktoum International. AirAsia […]
By Subrata Majumder At the time when India unveiled its much hyped “Make in India” dream of Prime Minister Narendra Modi, China silently unleashed its “Made in China” programme to re-build its manufacturing hub. “Make in India” and “Made in China” sound similar in their perspectives. But, conceptually they are different. While “Make in India” was a call to establish world’s biggest manufacturing hub and increase share […]
Gulf banks are feeling the pinch of rapidly shrinking corporate loan margins, with some predicting a bounce in lending rates as soon as the first half of 2015 as the escalating price war bites into profitability. Lenders are being forced to cut rates and loosen lending terms to secure business as local banks, flush with cash as their balance sheets recover from the global financial crisis, seek […]
Dubai’s Emirates Airline, the world’s largest carrier by international traffic flown, has signed a deal with TAAG Angola Airlines to manage the carrier for 10 years and cooperate on “commercial opportunities” in Africa. The Gulf carrier, which also has a partnership agreement with Australia’s Qantas Airways, will code-share on cargo and passenger services, participate in each carrier’s frequent flier programs and coordinate ground handling, Emirates said in […]
|By TAP Staff| Following the huge success of Emaar’s malls IPO, Chairman Mohammed Alabbar indicated the possibility of floating the group’s hotel business, which includes the signature Armani Hotel. Meraas Holding, a Dubai government-controlled developer, has picked banks to manage the IPO of its theme park unit, three people with knowledge of the matter said earlier this month. The company’s IPO is planned for the fourth quarter, […]
Qatar… construction activity jumps 14.5 per cent Qatar’s economic growth edges up to 5.7pc in Q2 DUBAI, 4 hours, 21 minutes ago Qatar’s economic growth picked up slightly to 5.7 per cent on an annual basis in the second quarter of this year as robust non-oil activity outweighed a decline in the hydrocarbon sector, official data showed on Tuesday. Real gross domestic product growth accelerated from a […]
By Nantoo Banerjee Barely hours after Pakistan Prime Minister Nawaj Sharif harped before the world audience on its over-six-decade-old position, long discarded by India as ‘unacceptable’ and held ‘impractical’ by most nations deeply interested in peace in the region, that Kashmiris be allowed the right to ‘self-determination’ to decide whether or not to remain part of India, visiting Indian private channels were rushing to Pakistan’s National Security […]
By Surojit Mahalanobis It is better late than never. The news that the power minister Piyush Goyal has set up an inter-ministerial panel (IMC) to examine and move forward with effective allocation of the 214 coal blocks, after the Supreme Court’s recent order, is indeed acceptable. What is positive about the move is that the committee (IMC) would comprise engineers of power, steel, and mining sectors as […]
