Arabian Post Staff Dubai International Financial Centre (DIFC) announced a record growth in 2019. The total number of firms in the Centre reached 2,437, up 14% from 2018, with a total of 32% growth since 2017. It attracted 493 new businesses in 2019 and now counts 17 of the world’s top 20 banks, 8 of the 10 leading global law firms, 3 of the top 5 insurance companies […]
Arabian Post Staff While the new low oil prices will test Saudi fiscal balances, they have the lowest cost barrels and with low debt can pull on sovereign reserves and take the pain, according to Chris Midgley, head of global analytics, S&P Global Platts. Crude fell sharply on Friday to test $45/bbl on the back of the failed talks and we now expect if to fall sharply as […]
Over the past few years the UAE has seen a boom in start-ups and online businesses. The influx of female entrepreneurs heading start-ups have systemically changed office culture, making it accessible for all genders, and giving a stronger voice to women in general. In fact, the UAE is considered one of the best markets for business women. Back in 2017 the UAE pledged $50 million to the […]
Arabian Post Staff The International Air Transport Association (IATA) sees 2020 global revenue losses for the passenger business of between $63 billion (in a scenario where COVID-19 is contained in current markets with over 100 cases as of 2 March) and $113 billion (in a scenario with a broader spreading of COVID-19). No estimates are yet available for the impact on cargo operations. IATA’s previous analysis (issued […]
Airlines in Asia-Pacific and Europe suffered sharp declines in year-on-year growth in total air cargo volumes in January 2020, while North American and Middle East carriers experienced a more moderate decline. Latin America and Africa were the only regions to record growth in air freight demand compared to January 2019. Asia-Pacific airlines saw demand for air cargo contract by 5.9% in January 2020, compared to the year-earlier period. This […]
By Matein Khalid The US dollar is the traditional safe haven currency during times of geopolitical or financial stress even when the cause of a risk aversion spasm is ultimately American, such as the failure of Lehman Brothers in 2008, Obama’s epic budget battles with the Republicans in 2011 and the Trump White House’s drone hit on Iran’s most revered Revolutionary Guard commander on 3 January 2020. […]
We all know that the internet changed slot machines forever, which once were loved well by gamblers and pub goers alike in the casinos, arcades and pubs all over the UK that just wanted to have a bit of fun, and during a time where getting a win was just an added bonus so that you could get some money for more beer or you could win […]
By Matein Khalid I had published an article expressing my shock at the abysmal corporate governance and financial disclosure at NMC Healthcare, the London listed UAE’s largest private operator of healthcare clinics and hospitals. NMC Healthcare shares were at 1816 pence on the LSE when I published my article in the Gulf and UK financial press on 30 December 2019. NMC Healthcare has now plunged to 775 […]
Arabian Post Staff DP World has decided to delist its shares from Nasdaq Dubai citing better operational efficiency as a private entity. Accordingly, DP World’s parent company Port and Free Zone World has offered to acquire the 19.55 per cent of DP World’s shares traded on Nasdaq Dubai, returning the company to private ownership. The company said the move will enable DP World to focus on its […]
Arabian Post Staff Dubai-based DP World has agreed to acquire a majority 51% stake in TIS Container Terminal in the Port of Yuzhny, Ukraine, subject to the satisfaction of certain conditions, including regulatory approval. Bringing the TIS Container Terminal into DP World’s global network of ports, economic zones, warehousing, and inland logistics solutions will strengthen its position as the market-leading terminal of Ukraine. This latest acquisition also […]
By Matein Khalid Thankfully, I was not in the global markets during the Black Death, the Great Plague and the Spanish flu pandemic but coronavirus cases have now crossed 40,000 infections and this is way beyond a local Wuhan outbreak. Despite the blowout 225,000 US January non-farm payrolls growth data, I am alarmed by the global recession SOS in the capital markets metrics I track. One, the […]
By Arabian Post Staff Emirates Strategic Investments Company (ESIC), an Abu Dhabi-based investment company owned by Sheikh Mansour bin Zayed al-Nahyan, a member of Abu Dhabi’s royal family, said it has acquired two mixed-use properties in the United Arab Emirates (UAE), one of a series of investments to be funded by last year’s successful issuance of the company’s US$600 million (Dh2.2 billion) sukuk. The Dh1 billion (US$ […]
The Value Added Tax (VAT) Recovery Self-Service Kiosks for Tourists will be set up at major shopping malls and hotels, in addition to the existing ones at air, land, and maritime entry and exit ports across the UAE, the Federal Tax Authority (FTA) announced. The expansion aims to provide additional services to tourists, enhancing the UAE’s status as a leading destination on the international tourism map. Planet […]
The following is a text of seven -year-old Soborno Isaac Bari’s prepared remarks to Mankind, delivered on January 6, 2020 at SP Pune University in India. I am honored to be in India, the birthplace of Mahatma Gandhi, and to be hosted by Savitribai Phule Pune University. Since 1949, India has stood as a beacon of democracy, diversity, and tolerance and the University of Pune has served […]
By Matein Khalid My tactical idea last week to recommend buying sterling against the US dollar (cable) at 1.30 for a 1.34 target is 200 pips in the money now that the Bank of England kept the policy rate unchanged at 0.75% despite Governor Carney’s smoke signals. Sterling closed at 1.32 on Friday evening and will be well bid next week – hopefully. I expect Governor Bailey […]
Dubai-based Finalrentals makes it possible to rent a car globally By Arabian Post Staff When traveling abroad, people often try to search for a car online from unknown platforms, resulting in situations where customers feel they didn’t get the service they’d hoped for. But Finalrentals has changed all that. Finalrentals is a startup born in Dubai, United Arab Emirates. After creating the best online car rental experience for tourists and […]
Arabian Post Staff Dubai is to have a Blockchain Campus at the site of Dubai Expo 2020. The campus will be established by Atlas Capital, one of the leading Fintech firms in the emirate, which are also hosting the Blockexpo and World Blockchain Summit 2020 in Dubai during the Expo 2020 Dubai. Dubai’s Blockchain market grew by 24% in 2018, surpassing the global average of 19%, Smart […]
Arabian Post Staff DMCC announced its strategic partnership with CV VC and CV Labs, to launch Crypto Valley – the world’s largest ecosystem for cryptographic, blockchain and distributed ledger technologies – in Dubai. Designed to foster growth, collaboration and integrity across the global blockchain economy, the ‘DMCC Crypto Valley’ will offer a variety of services including incubation for early-stage start-ups, co-working facilities, innovation services for corporate clients, blockchain and […]
This might just be the most rock and roll slot game of them all, as the Guns N’ Roses slot is officially licensed by one of the greatest rock bands of all time. As such, members of the iconic band, Guns N’ Roses, feature in this entertaining slot game from NetEnt. Plenty of bonus features and, as you would probably expect, a great soundtrack, make this a […]
(Source: https://pixabay.com/illustrations/diabetes-disease-diabetic-health-2058045/) Type 2 diabetes is the most prevalent type of diabetes around the world. This happens when your blood sugar levels rise due to problems with the production or use of insulin. Diabetes type 2 can happen to people of all ages; however, it mostly occurs to people above 45 years. Although diabetes is incurable, it is not a life sentence. According to the International Diabetes […]
Arabian Post staff Dubai-based Wafi Group has acquired the UK’s Craig Bragdy Design (CBD) to establish a new business venture. A small family business in ceramics, started in Wales by Rhys and Jean Powell, the company is now managed by the founder’s two sons Nick and Shon Powell and is an established enterprise that creates art-based products for use in architectural settings. The new company in Dubai […]
Miral, Abu Dhabi’s creator of destinations entered into a partnership with Etihad Airways, the national airline of the United Arab Emirates, to secure exclusive naming rights of Yas Bay Arena. As part of the agreement, Abu Dhabi’s first-of-its-kind multi-purpose, indoor entertainment venue will officially be named Etihad Arena. With Etihad Airways’ track record for connecting Abu Dhabi to the world and promoting the UAE as a vibrant and growing hub for culture, business […]
By James M. Dorsey Disclosures of taped phone calls between embattled former prime minister Najib Razak and a person believed to be United Arab Emirate crown prince Mohammed bin Zayed go a long way to explain Malaysian efforts to counter UAE and Saudi influence in the Muslim world. The disclosures are the latest incident in what have been complex, if not strained relations with the UAE and Saudi Arabia […]
There’s barely an area of entertainment or recreation that Dubai hasn’t either broken into or attempted to break into during the past few years, but this latest trend is one we never expected to see. When you hear the words ‘luxury cruise’, there are to areas of the planet that tend to spring to mind. The first is the Caribbean. The second is the Mediterranean. At a […]
