|By Arabian Post Staff| DP World’ made a capital spending of over $1 billion in 2017 for a series of acquisitions, technology tie-ups and other activities, the company said in a statement. These investments saw the global trade enabler expand its business horizons across the world during the year. The expansion at Prince Rupert in Canada opened for business, DP World Limassol in Cyprus opened a new […]
By Manish Rai Last year in June Saudi Arabia, the UAE, Bahrain and Egypt imposed a land, sea, and air blockade on Qatar for its alleged support to terror outfits and being too close to Iran. The Arab neighbours thought that by imposing this blockade they can pressurise Qatar to set aside its own ambitious foreign policy and toe the line of its bigger neighbours. But during […]
|By Matein Khalid|The rise in Brent crude to $60 a barrel and the trade volume ballast generated by the world’s first post Lehman synchronized economic recovery is hugely positive for UAE economic growth in 2018. After all, the UAE is unique because Abu Dhabi’s 100 billion barrels of proven oil reserves is complemented by Dubai’s role as the Gulf’s financial, logistics, aviation, shopping and services hub. The […]
|By Arabian Post Staff| : The UAE once again captivated the world this New Year’s Eve with a dazzling spectacle to usher in 2018. Emaar’s ‘Light Up 2018’ Downtown Dubai celebration hosted more than a million visitors from across the world and reached an estimated 2.5 billion people worldwide through live television broadcast and social media live streams. The mesmerising laser, light and musical fountain show not only […]
|By Arabian Post Staff| After posting a 10 per cent year-on-year rise in MENA region profits in 2017, Saxo Bank, the online multi-asset trading and investment specialist, has consolidated its high-performing Dubai station as its regional hub of operations. The double-digit annual profit growth across the region, which has elevated MENA to the company’s third most profitable operation this year, had led Saxo’s Head of MENA, Mario Camara, […]
|By Alaa Alghamdi| One of the most powerful ways in which individuals can understand the worldview of another culture is through art. Even if economics, politics, and lifestyles may divide different nations, art can provide a common, sympathetic connection and remind others that similarities between human beings are greater than differences. This is one of the underlying rationales for Desert to Delta, an exhibition of art and cinema […]
|By Arabian Post Staff| UAE-based multinational company, Crescent Enterprises, has announced the successful closing of its investment in ColubrisMX and XCath, two next-generation micro-robotic medical device companies through its newly launched corporate venture arm, Crescent Enterprises Venture Capital (CE-VC). Developed at the University of Texas Medical School’s Microsurgical Robotics Laboratory and incorporated in Texas, USA, both companies design and develop next-generation robotic technologies that are expected to revolutionise […]
|By Matein Khalid|I am often asked by investors to articulate my “philosophy” of real estate investing. Tough question. My ideal deal is one where it is possible to buy brick and mortar assets at 60 – 70% of replacement cost. This usually occurs in the aftermath of a banking crisis or economic shock. This was the case in Florida homes in 2009 or Spanish office space in […]
|By Arabian Post Staff|ADNOC plans to explore and appraise Abu Dhabi’s unconventional gas resources, as the company seeks to enable future value creation from its untapped gas resources, the company announced. ADNOC will spend over AED 400 billion over the next five years, as it embarks on its Upstream and Downstream expansion and growth projects, the company announced. The Supreme Petroleum Council (SPC) approved ADNOC’s key strategic […]
|By Alia Al-Khater| The Middle East has a long history of coffee drinking traditions. Over the years, the traditions have been shifting towards more Western ones. More recently, numerous specialty coffee shops are being opened, many of which are run by local independent business owners. As people are beginning to appreciate quality coffee, the region can be characterized by its vastly expanding market for coffee drinking. Many of these […]
|By Alaa Al Ghamdi| One of the most common distinctions made in the discourse of international relations is that of hard versus soft power. Hard power refers to traditional modes of influencing international relations through force, such as through military might or economic power (such as withholding a critical natural resource like oil). Soft power refers to cultural power, such as the arts, intellectual ideas, and tourism. Saudi […]
|By Matein Khalid| US and global equities surged on news of the US House of Representatives pass the tax reform bill, Cisco and Walmart posted blowout earnings and a potential bidding war emerged for Fox’s media assets. The rally on Thursday followed a week of carnage in the US high yield debt markets, flattening of the US Treasury yield curve and losses in the major stock market indices worldwide. […]
|By Arabian Post Staff| Boeing and flydubai signed a landmark agreement for 225 737 MAX airplanes with a list price value of $27 billion. The deal represents the largest-ever single-aisle jet order – by number of airplanes and total value – from a Middle East carrier. Signed at the 2017 Dubai Airshow in flydubai’s hometown, the agreement includes a commitment for 175 MAX airplanes, and purchase rights […]
|By Arabian Post Staff| Boeing and Emirates announced a commitment to purchase 40 787-10 Dreamliners at the 2017 Dubai Airshow. The deal, including airplanes and related equipment, is valued at $15.1 billion at current list prices. Emirates is the world’s largest Boeing 777 operator and will be the first to receive the new 777X in 2020. In selecting the 787-10, Emirates complements their 777 fleet with a […]
|By Arabian Post Staff| An estimated $100 billion has been involved in the systematic corruption and embezzlement |that plagued Saudi Arabia over several decades, Saud Al Mojeb, the kingdom’s Attorney General and member of the Supreme Anti-Corruption Committee, announced. The disclosure came in a statement on the status of the anti-corruption proceedings, which are moving forward There is strong evidence that confirms initial suspicions, which led Saudi […]
By Saifur Rahman Emirates Group, which include Emirates Airline and its ground handling and ticketing arm Dnata, today reported a 77 per cent jump in net profits to Dh2.3 billion (US$631 million) for the first half of the 2017-18 financial year, starting from April 1, 2017, up from Dh1.3 billion (US$364 million) recorded in the first half of its last financial year – in what is perceived […]
|By K Raveendran| The arrest of wealthy Saudi prince Al Waleed, whose investments ranging from Citibank to Apple to Twitter, making him the most high profile Arab investor on the global stage, may involve more than internal power struggle within the Saudi ruling establishment and the new Crown Prince’s spirited fight against corruption. Al Waleed may have paid a heavy price for his spat with Donald Trump […]
|By Arabian Post Staff| Emaar Development said on Thursday it plans to price its initial public offering in between Dh5.7 to Dh6.9, thereby valuing the company at Dh25.2 billion. The company plans to offer 800 million shares or 20 per cent of the share capital, it said in an emailed statement.The final price will be announced on November 16, and the shares will be listed on the […]
|By Matein Khalid|Emaar Properties will sell 20% of its UAE development portfolio in an initial public offering in November. This is the first IPO in the UAE capital markets in the last three years and follows bellwether offerings such as Emaar Malls and Emaar Misr. Emaar’s Dubai development’s adjusted net value is 24.1 UAE dirhams and I would not be surprised if the post IPO revalues the […]
|By Arabian Post Staff| NRI Emirati Investors Group, a new UAE-based group formed by the Business Leaders Forum (BLF), announced that it will raise US$1 billion (Dh3.67 billion) in commercially viable big-ticket projects in India. The announcement was made at the inaugural two-day India-UAE Partnership Summit (IUPS) taking plae at the Armani Hotel, Burj Khalifa, Dubai. This would be the largest such collective fund-raising programme by a […]
The IMF recently upgraded the global growth outlook for 2018, and the oil price is trading at its highest levels since 2015. These are both positive developments for the UAE economy, which is expected to see an uptick in growth in 2018. But will this be the beginning of a sustained period of growth, or will it just be a rebound from the recent slump in growth? […]
|By Arabian Post Staff|Destination management company Alpha Destination Management has signed an exclusive agreement with Expedia, the world’s largest online travel company, to operate the Expedia Local Expert® program in Dubai and Abu Dhabi. Dubai and Abu Dhabi will thus become the first destinations in the world outside North America to offer this program. Expedia is an internationally trusted brand and Expedia Local Expert allows the company […]
DAMAC Properties, a leading luxury real estate developer in the region, announces the launch of Vera Residences, luxury apartments in the ever-popular Business Bay with breathtaking views of Dubai Canal. Strategically placed at the epicentre of one of Dubai’s business hot-spots, Vera’s close proximity to the prestigious Downtown Dubai district offers the ultimate lifestyle for those seeking a lively community with connectivity to the city. Vera Residences […]
|By Arabian Post Staff|Emaar Chairman Mohamed Alabbar said that the new digital marketplace Noon, founded by him, will be rollled out in Saudi Arabia before the end of this year. He was addressing a media briefing with Faraz Khalid, Chief Executive Officer of Noon, on the sidelines of the Future Investment Initiative in Riyadh. Headquartered in Riyadh, Noon is a joint venture with the Public Investment Fund […]
