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After a long busy day, many people search the web or switch on their cable television, to know what is coming about in this uncertain world. On every international news channel and portal website, they see guiltless people being deliberately harmed, tortured or killed, every day. Around the world, from...
Most foreign residents who happen to live or work in the Arab region are accustomed to hear the majority of Arab nationals and expatriates complaining about the living conditions and socio-political situations of their native countries. Nowadays, Arabs tend to be freer to express their frustration and condemnation of the...
In its latest report “Global Trends 2030: Alternative Worlds” issued by the National Intelligence Council, an analytical arm of the U.S. government’s Office of the Director of National Intelligence says that China’s economy is likely to surpass the United States in less than two decades while Asia will overtake North...
Zomato was founded in July 2008 by IIT Delhi alumni and has expanded its services over a span of 4 years to 16 cities across India and the UAE. The website has become Asia’s largest restaurant and nightlife guide with listings of over 48,000 restaurants. The Delhi-based restaurant info and review website...
Etihad Airways, which has been aggressively expanding on a global level through stake purchases in firms like Air Berlin and Virgin Australia, announced on Sunday it is set to extend its geographical reach to India and other Asian markets. Abu Dhabi’s flag carrier is competing with regional rivals like Emirates...
IndusView, Sunday September 16 (London): The Indian Prime Minister introduced long awaited reforms on Friday allowing foreign direct investments (FDI) in multi-branded retail and aviation sectors that should boost Indian retail, airline, banking and property industries. In the biggest economic policy push in eight years, more than halfway through Prime Minister...
Today’s top business news from the Middle East and North Africa: Dubai’s posts record H1 trade figures Dubai’s non-oil foreign trade hit a record AED602 billion ($163.9 bn) during the first half of 2012, registering a 12% increase compared to the same period last year. Dubai’s trade totalled AED 537 billion during the first...
Middle East Business News Review – A look at today’s important financial news and business updates from the Gulf, Levant and North Africa: Cathay heals Airbus’ Etihad cancellation heartbreak with $4.2bn order Cathay Pacific announced on Tuesday it planned to place an order worth up to $4.2 billion at list...
New Delhi allowed its state-run insurers to provide limited cover to Indian ships transporting Iranian oil, paving way for refiners to receive uninterrupted supplies from Tehran. India’s Insurance and Regulatory and Development Authority (IIRDA) announced state-run insurers can replace their European counterparts, enabling at least Shipping Corp Of India to...
“The real voyage of discovery consists not in seeking new landscapes but in having new eyes.” ~ Marcel Proust Time and space bear no relevance, in the midst of such majestic imposing grace. These endless monuments of nature, bear the epiteths of the beginning of life as we know it. From...
Middle East Business News Review – A look at today’s important financial news and business updates from the Gulf, Levant and North Africa: Shard opened by Qatari PM, Duke of York Europe’s tallest building has been officially unveiled in central London by the prime minister and minister of foreign affairs...
Switzerland announced on Thursday it will not follow European Union sanctions on Tehran and carry on trading Iranian oil for “foreign policy reasons”. Reports said Switzerland is one of the top hubs for physical oil trading and hosts a branch of the National Iranian Oil Company NICO. However, it does...
India’s telecoms tribunal delivered a split ruling Tuesday on a challenge by mobile phone operators to a government ban on forming roaming pacts to provide 3G services outside their licensed zones. The Telecom Dispute Settlement and Appelate Tribunal (TDSAT) had sanctioned the strength of three people including the Chairman. But...
Middle East Business News Review – A look at today’s important financial news and business updates from the Gulf, Levant and North Africa regions of the Middle East: Qatar Telecom interested in $1.9 billion Wataniya stake Qatar Telecom (QTEL) has expressed its interest in buying a stake valued at about...
Dubai posted a 6.6% growth during the first quarter of 2012 in its non-oil foreign trade, amounting to over AED 298.1 billion ($81.85bn), compared to AED 279.7 billion ($76.14bn) during the first quarter of last year, statistics released by Dubai Customs revealed. Dubai Custom’s top official said the growth of emirate’s...
The Indian rupee hit its record lowest of Rs 56.57 against the US dollar on Thursday. Rupee’s previous record low was 56.52 on 31 May this year. Indian Rupee has been on a freefall for various reasons and the latest being the US Fed slashing growth forecasts for the ailing economy. On...
Middle East Business News Review – A look at today’s important financial news and business updates from the Middle East and North Africa region: Kuwait court dissolves newly elected parliament day after suspension Kuwait’s constitutional court ruled on Wednesday the country’s Islamist-dominated parliament was elected unconstitutionally and restored the previous...
Iran received a massive boost on Wednesday when two of its Asia’s four top buyers said they will keep importing crude by finding out ways around an EU ban on insuring tankers carrying Tehran’s oil. The Japanese parliament has approved plans that will allow the government to provide insurance cover....
A look at today’s important financial news and business updates from the Middle East region: 4 GCC states among top 10 world millionaire household countries Four GCC countries have been ranked in the top 10 worldwide list of millionaire households, reflecting the growth in private financial wealth in the MENA...
India has announced plans to hold roadshows next week in five Gulf countries in a bid to attract sovereign funds and other investors to help revive faltering Asia’s third largest economy. The Indian economy was rapidly expanding at more than 9% per annum before the 2008 global financial crisis. However,...
Grappling with the fall of rupee, inflation and political turmoil, there seems to be no abating of crises in India. According to a recent study conducted by the Transport Corporation of India and IIM (Kolkata), India faces a loss of Rs 600bn ($10.8bn) a year due to congestion, slow speed...
Both domestic and eurozone crisis are taking a toll on India’s gross domestic product (GDP), which dropped 5.3% during the first quarter (Jan-Mar) of 2012. GDP was 6.1% during Q4 of 2011, government data revealed. India’s manufacturing and farm outputs were the most affected sectors of the economy. Manufacturing output...
The Indian rupee has been in the news recently for all the wrong reasons. Over the past few weeks, the rupee’s value has fallen considerably. As of today, a US dollar will fetch you 54.4250 Indian rupees. Singapore-based investment firm CLSA is predicting the Indian rupee will go as low as Rs58...
India is now home to the world’s largest solar park. China’s 200 megawatt Golmud Solar Park previously held the record of the world’s largest solar park. The 214MW capacity photovoltaic solar park was completed at the cost of $2.3 billion. Currently, the largest single location plant in the world, it...
A look at today’s important financial news and business updates from the Middle East region: Dubai govt. direct debt registers significant drop A Dubai government’s bond prospectus suggested its direct debt dipped 1.6% at the end of March from May last year to AED113.6bn ($31bn). Outstanding government debt, excluding that owed...
India says it would like to increase its import of liquefied natural gas (LNG) from Qatar, Qatar’s English language daily reported on Tuesday. Speaking in Doha Monday, India’s minister for commerce, industry and textiles, said New Delhi wants to purchase 15m tonnes of LNG annually from the Gulf state. “Qatar is...
Dubai’s flag carrier on Tuesday dismissed reports it is interested in buying a stake in India’s troubled aviation sector. “We are not interested in getting involved in the Indian aviation sector,” Emirates President Tim Clark said, speaking to Reuters on the sidelines of a finance conference. He also denied suggestions the...
A top Indian shipping executive, along with other industry sources, said firms will continue to ship Iranian crude despite limited insurance coverage. European Union imposed tough new sanctions, effective from 1 July, on Iranian oil exports that also ban EU insurers and reinsurers from covering tankers carrying Iranian crude anywhere in...
The economic growth of India – hampered by rising inflation, high interest rates and lack of substantial policy decisions over the two or three years – seems to have made no real impact on talent availability. As a matter of fact, Indian CEOs are quite optimistic when it comes to...
Dubai’s foreign trade in 2011 surpassed the 1 trillion dirhams mark, a first in the emirate’s history, Dubai Customs said on Wednesday. The authority added that the total of AED1.1trn ($299bn) represented an increase of 22% compared to the AED902bn achieved in 2010. The figures represented the “robust UAE economy in...
Emirates Airline, Dubai’s flag carrier, has hinted it is keeping its investing options open in India amid signs New Delhi is moving toward overhauling country’s ownership rules. “Anything to do with the aviation, if it’s at the right price, we always look at it,” chairman Ahmed Bin Saeed Al Maktoum...
Experts have always accused Infosys of being conservative in its approach, though top management of the company has always denied it. However, now it seems like the trend is changing with chief financial officer V Balakrishnan announcing in media that some sort of conservatism has indeed crept into Infosys, especially...
While every expert is of the opinion that Kingfisher Airlines is on the verge of collapse, Vijay Mallya is not going to give up that easily. Arabian Gazette has an information that Mallya already have a foreign airline partner. Only thing he need to do is to clear the regulatory...
A senior Emirates Airline executive announced Thursday the company is in talks with Indian authorities to expand its network of routes across the subcontinent. The world’s fastest growing airline, which is steadily investing in India, says it wants to increase its frequency on existing routes. However, the Dubai-based carrier rejected...
A look at today’s financial news and business updates from the Middle East region Abu Dhabi sells Tesla stake for $133m profit State-owned power supplier Abu Dhabi National Energy (TAQA) announced it has sold its 7% stake in US electric carmaker Tesla. TAQA, in which the Abu Dhabi government owns a...
Qatar and India have signed an agreement that will enhance co-operation in oil and gas production, the Gulf state’s government news agency reported. The deal, among six agreements, was made during Sheikh Hamad bin Khalifa Al Thani’s official visit to India, where the Qatari Emir held talks with Prime Minister Manmohan...
In line with what experts have been saying and the various research reports that are coming out, the recent ‘The Wealth Report 2012′ has reinforced that the economic centre of gravity is shifting towards the East. ‘The Wealth Report’ is Knight Frank’s annual perspective on prime property and wealth, produced...
Abraaj Capital, the Middle East’s largest private equity firm, has announced plans to expand further in India. Dubai-based Abraaj joined hands with Sabre Capital, a leading private equity firm in India, to form Sabre Abraaj Capital in 2006. Both Abraaj Capital and Sabre Capital have equal partnership in the joint...
Starbucks is drawing up an expansion strategy in the Europe, Middle East and Africa region as it intends to increase the number of operating stores from 700 to 1,000 over the next three to five years. Michelle Gass, the president of Starbucks Europe, Middle East and Africa (EMEA), will be...
UAE IT SERVICES ONE OF THE MOST EXPENSIVE IN THE WORLD According to a report published by the Telecommunications Regulatory Authority (TRA), the UAE has one of the costliest internet and telephone service in the world despite price cuts during the last few years. “Telecommunications services in the UAE are...
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