Sunday was the day for festivities and pride in Panama as people there marked the inauguration of newly expanded multibillion dollar Panama Canal that will link the Atlantic and the Pacific Oceans and boost the regional and international trade. Currently, some 5 percent of global maritime commercial traffic uses this strategic waterway, which provides a valuable shortcut between North ...

  Mohamed A. El-Erian As global financial markets convulse in response to British citizens voting to leave the European Union, the stunning outcome of the U.K.’s referendum provides more questions than answers. As discussed on Monday, the heightened uncertainty, fueled by sudden institutional instability now compounding long-standing economic fragility and financial fluidity, is likely to cause an unprecedented mix of ...

The United Kingdom’s exit from the European Union is creating a lot of losers: London’s finance industry. British Prime Minister David Cameron. The pound. The grand cause of European integration. But out of all of the market turmoil and uncertainty will emerge at least one big winner: China. In the short term, of course, China’s struggling economy may take a ...

  Emirates Business Increased internet penetration in the Arab World has led to a jump in the GCC region’s online ad spending for this year with internet ads in the GCC set to grow 20 per cent in 2017, according to a market research report recently launched by Orient Planet Research, an Orient Planet Group venture. The report, entitled, ‘GCC ...

  Dubai / Emirates Business Jumeirah Golf Estates, the leading residential golf community, announced that Phase 1 of its Redwood Park development has officially sold out to a mix of local and international buyers. As Jumeirah Golf Estates continues its ambitious growth plans and international sales drive, also reported that buyer confidence in the community of modern townhouses – overlooking ...

  Sharjah / Emirates Business Sharjah Islamic Bank (SIB), voted “Best Islamic Bank in the UAE” at the World Finance Awards 2016, has has announced that more honours have been bestowed as it has received the “First Successful Data Submission Award” from Al Etihad Credit Bureau (AECB). AECB provides world-class services on creditors to help financial institutions and credit providers ...

  Abu Dhabi / Emirates Business This summer, get ready to witness pre-historic times come to life with your entire family in Abu Dhabi, as dinosaurs resurrect like you have never seen before in the internationally-acclaimed “Dinosaur Zoo Live” show, taking place from July 7-9 at Emirates Palace. The interactive show, which has toured around the world and featured in ...

  Emirates Business In line with the spirit of caring and sharing during the holy month of Ramadan, Etihad Airways, the national airline of the United Arab Emirates, hosted a charity Iftar for 5,000 labourers at the Workers Village in Mussafah, Abu Dhabi. Etihad Airways’ employees and leadership contributed generously, purchasing thousands of Iftar vouchers for the labourers’ meals. The ...

  Bloomberg TransCanada Corp. is seeking to recoup $15 billion for the Obama administration’s rejection of the Keystone XL oil pipeline, in a legal claim that highlights how foreign companies can use trade deals to challenge U.S. policy. The Calgary-based pipeline operator filed papers late Friday seeking arbitration under the North American Free Trade Agreement, arguing that TransCanada had every ...

  Washington / AFP Rattled by the Brexit shock, major US companies are seeking more clarity about the future of the British market, their preferred entry port to Europe. From clothing chain stores to automakers, the big names of “Corporate USA” have long flocked to Britain, attracted by its tax advantages and a common language, and by the prospect of accessing ...