Dubai’s boom-and-bust real estate market can land you at the wheel of a Rolls-Royce or behind bars. Kabir Mulchandani should know: he’s experienced both. Five years after spending 140 days in jail facing charges of fraud and embezzlement for which he ultimately was cleared, the chairman of developer SKAI Holdings stands at a building site watching cranes start work on one of the company’s three projects. They […]
Saudi Arabia will hold talks about militant violence in the region on Thursday with the United States and Muslim allies, the kingdom announced on Tuesday, in an apparent attempt to support international efforts to tackle crises in Iraq and Syria. The world’s No. 1 oil exporter is unnerved by the rapid advance of Islamic State — a militant group that has overrun swathes of Iraq and Syria […]
Apple Inc. (AAPL)’s prospects seem a lot brighter than they were the last time Tim Cook introduced an iPhone. When Chief Executive Officer Cook unveiled two new smartphone models 12 months ago, Apple’s stock was slumping and the company was losing market share to Samsung Electronics Co. and low-cost manufacturers such as Xiaomi Corp. Questions abounded about whether Apple could keep innovating without co-founder Steve Jobs. Fast […]
Last year, coworking spaces became all the rage in Dubai as entrepreneurs sought a place to get together and build nascent startups. Now, Google Inc. has also got in on the act. The tech giant has teamed up with the cofounders of online shopping website Namshi to create a “Google for Entrepreneurs” Tech Hub in Dubai. The space will open in 2015 and be run by AstroLabs, […]
|By TAP Staff| Dubai Multi Commodities Centre (DMCC), AstroLabs and Google have team up to launch a technology hub that will promote start-ups. Based in the DMCC free zone, the hub is expected to open early next year, catering to technology entrepreneurs from around the world looking to gain access to high-growth emerging markets, including the Emirates. AstroLabs, which is a DMCC member, trains Middle East and […]
|By TAP Staff| A $32 billion project to make the Al Maktoum International airport at Dubai World Central as the world’s biggest airport has received approval. When completed, the airport targets to handle more than 200 million passengers per year. The first phase of the expansion alone aims to build enough runway and terminal space to handle 120 million passengers a year and 100 mammoth Airbus A380 […]
General Motors Co., the largest U.S. automaker, will introduce a Cadillac model in two years that can travel on the highway without the driver holding the steering wheel or putting a foot on a pedal. The 2017 Cadillac model will feature “Super Cruise” technology that takes control of steering, acceleration and braking at highway speeds of 70 miles per hour or in stop-and-go congested traffic, Chief Executive […]
By Bjørn K. Haugland & Erik Rasmussen How can we use the pressure from global risks such as extreme weather or water scarcity to create new sustainable business opportunities? This might be the single most important question for any company today. In current strategizing and business developing, we are very good at spotting risks associated with the sustainability challenges facing us. Markets will change, access to critical […]
Photo: Alamy When we were young, my brother and I used to argue with our parents over bedtime, pushing it later and later so that we could squeeze in more stories. Beatrix Potter’s were our favourites, though my dad preferred Tom Sawyer. My mum and dad always read us to sleep, and when I was older, I waited to hear their footsteps on the stairs. As soon […]
|By TAP Staff|Meraas Holding said the first phase of its ambitious e $2.7 billion Dubai Parks and Resorts project incorporating the Legoland park would be completed by 2016. In addition to the Legoland park, that initial phase will include a Bollywood-themed park celebrating the Indian film industry and another known as Motiongate Dubai promising to bring Hollywood characters to life. Plans also call for a central retail […]
RAK Ceramics For RAK Ceramics, the world’s biggest manufacturer of tiles, 2014 may become one of the most transformative periods in the company’s 23-year history. Investment firm Samena Capital this year bought a 31% stake in the company that in the past two decades has become the flagship business of Ras al Khaimah, the most northern of the seven emirates that make up the United Arab Emirates, […]
Valérie Trierweiler, the high-heeled hellcat whose memoir of their time together has plunged the surreally unpopular president into the biggest crisis anyone at the Elysée Palace can recall Photo: REX FEATURES Beneath the twinkling chandeliers of Cardiff Castle’s banqueting hall last week, François Hollande wore the pale, sweaty look of a man in big trouble. Back home, the economy was collapsing, the public was in revolt, the government […]
Tory strategists: George Osborne and Lynton Crosby (right) Photo: REX FEATURES The Scottish opinion polls were looking bad for the “No” campaign. Their ratings were sliding downhill faster than a fat man on a skeleton bob. A new report had claimed that there was £300 billion’s worth of oil waiting to be fracked off the coast of Scotland. And all they could offer to stem the Nationalist surge were […]
By Christina Farr SAN FRANCISCO Sat Sep 6, 2014 6:41pm IST The leaf on the Apple symbol is tinted green at the Apple flagship store on 5th Ave in New York April 22, 2014. Credit: Reuters/Brendan McDermid/Files SAN FRANCISCO (Reuters) – Apple Inc has invited top fashion editors and bloggers in unprecedented numbers to its Tuesday launch gala, further evidence that the iPhone maker is preparing to […]
NEW DELHI: The Narendra Modi government may shatter a longstanding bar on the state-run pension fund putting money into equities, sending a flood of money — estimated at Rs 6,000 crore per year at least — into the stock markets, potentially making this the biggest source of domestic institutional investment after LIC. Such a move, which comes as attractive returns from the Indian stock markets have drawn […]
NEW DELHI/DUBAI: Kuwait Petroleum Corp (KPC) aims to pick up a significant stake in Indian Oil Corp’s Paradip refinery and supply about 60 percent of the oil needs of the plant, set to start up later this year, three sources with knowledge of the matter said. Gulf oil producers want to lock in customers in Asia, which is experiencing a wave of refinery expansion, as the […]
By Noel Randewich and Diane Bartz SAN FRANCISCO/WASHINGTON Fri Sep 5, 2014 9:21am IST Visitors walk past the Qualcomm stand at the Mobile World Congress in Barcelona, February 24, 2014. Credit: Reuters/Albert Gea/Files SAN FRANCISCO/WASHINGTON (Reuters) – Nvidia Corp has sued rival chipmakers Qualcomm and Samsung Electronics, accusing both companies of infringing its patents on graphics processing technology. The U.S. chipmaker vies with Qualcomm in the business […]
BEIJING Fri Sep 5, 2014 8:51am IST A man walks past a logo during the presentation the Huawei’s new smartphone, the Ascend P7, launched by China’s Huawei Technologies in Paris, May 7, 2014. Credit: Reuters/Philippe Wojazer/Files Related Topics Stocks Snapshots from Australian PM Tony Abbott’s tour of India. Photos BEIJING (Reuters) – Huawei Technologies Co Ltd unveiled on Friday a slate of new devices meant […]
As political unrest continues to grip the Middle East, it is hardly a surprise that many international investors are wary about the region’s business prospects. Whether that is warranted or not, the International Finance Corporation, a World Bank Group subsidiary that promotes the private sector in developing markets, is trying to change that perception by stepping up its investments in the financial and power sectors. “We have […]
Al Qaeda leader Ayman al Zawahri on Wednesday announced the formation of an Indian branch of his militant group he said would spread Islamic rule and “raise the flag of jihad” across the subcontinent. In a 55-minute video posted online, Zawahri also renewed a longstanding vow of loyalty to Afghan Taliban leader Mullah Omar, in an apparent snub to the Islamic State armed group challenging al Qaeda […]
By Edwin Chan SAN FRANCISCO Wed Sep 3, 2014 12:21pm IST The Apple logo is pictured inside the newly opened Omotesando Apple store at a shopping district in Tokyo June 26, 2014. Picture taken June 26. Credit: Reuters/Yuya Shino/Files SAN FRANCISCO (Reuters) – The week before a crucial launch of its new iPhone, Apple Inc said intimate photos of celebrities including Oscar-winner Jennifer Lawrence were leaked online […]
Spurred by a rapidly deteriorating economy, the International Monetary Fund has approved a three-year extended credit facility worth $552 million with Yemen, the impoverished Arab nation that has become a breeding ground for the terrorist group al Qaeda in the Arabian Peninsula. The lifeline will provide some relief for Yemeni authorities who face a myriad of political and security challenges that continue to drag on the economy. […]
Telr, the payments company based out of Singapore and Dubai, has merged with a payment gateway in the United Arab Emirates to launch its services to ecommerce websites across the Middle East. Telr website The company, founded by ex-PayPal Middle East director Elias Ghanem, plans to offer ecommerce websites a payment gateway and delivery of goods, and will also provide short-term financing to help scale some startups. […]
By Nivedita Bhattacharjee MUMBAI Wed Sep 3, 2014 11:01am IST Android mascots are lined up in the demonstration area at the Google I/O Developers Conference in the Moscone Center in San Francisco, California, May 10, 2011. Credit: Reuters/Beck Diefenbach/Files MUMBAI (Reuters) – Google Inc’s (GOOGL.O) partnership with three Indian phone makers is set to rev up fast-growing demand for lower priced smartphones, and spell more trouble for […]
