Dubai / Emirates Business Kuwait’s KAMCO Investment Company, a leading investment company with one of the largest private sector Assets under Management (AUMs) in the region, on Monday announced the opening of its first international office in DIFC. A subsidiary of United Gulf Bank BSC (UGB) Bahrain, KAMCO obtained a Category 4 license from the Dubai Financial Services Authority (DFSA). ...

  ST. LOUIS America’s economy has now slouched into the eighth year of a recovery that demonstrates how much we have defined recovery down. The idea that essentially zero interest rates are, after seven and a half years, stimulating the economy “strains credulity,” says James Bullard, president of the Federal Reserve Bank of St. Louis. But last month he and ...

  The world’s focus will be on Beijing rather than The Permanent Court of Arbitration (PCA), the world’s oldest international arbitration tribunal, set to issue a written decision on Tuesday after the Philippines challenged China’s claim over much of the strategic waterway, China South Sea, in 2013. In an anticipation of the verdict, China has vowed it would not comply ...

  Albert R. Hunt Years ago, the conservative activist Grover Norquist was the guest speaker in a class I teach at the University of Pennsylvania. “Older people are the base of the Democratic Party,” he told the class of predominantly liberal Ivy League students. “Do you know what they do every day? Die.” Ironically, Norquist’s argument, that Democrats were on ...

Mohamed A. El-Erian Since the onset of the global financial crisis, I have pointed out that advanced economies should learn policy lessons from the experience of the developing world. This argument has been reinforced by two developments last week: the destabilization of the pound after the Brexit vote in the U.K., and indications that the U.S. now has less influence ...

  Emirates Business A newly-released report highlights that the UAE is leading the Arab world when it comes to generating economic impact from investments in information and communications technologies (ICT). The study, titled the World Economic Forum’s Global Information Technology Report 2016, ranked the UAE 26th globally, just ahead of Qatar (27th) while Kuwait (61st) as one of the world’s ...

  Emirates Business Al Hamra Real Estate Development (AHRED) has extended its winning streak after claiming two awards at the recent MEED Quality Awards for Projects. The Al Hamra Village-based Waldorf Astoria won Best Tourism and Leisure Project UAE. The recently-launched Bayti (meaning ‘my home’ in Arabic) picked up Best UAE residential Property of the Year. “Al Hamra Real Estate ...

DUBAI / Emirates Business Mashreq, the UAE’s leading financial institution, together with The Ritz-Carlton, Dubai announced the Offer of the Season, to make this summer truly memorable for Mashreq credit and debit cardholders. From complimentary dining, to a world-class spa or a luxury stay at beach-facing spacious suites for two whole nights, Mashreq has allied exclusively with The Ritz-Carlton, Dubai ...

  Emirates Business As the staycation season kicks in, Dubai is the favourite leisure destination in the UAE according to a new online survey of over 1,000 UAE residents commissioned by Emaar Hospitality Group and conducted by YouGov. The word ‘staycation’ refers to a vacation taken in the country of residence. In the UAE, staycations are gaining ground as the ...

  DUBAI / Emirates Business The Dubai Airport Freezone Authority (DAFZA) recently received a high-profile Chinese delegation headed by Zhang Qingwei, Governor of Hebei Province, to explore new investment prospects to deepen economic cooperation between the UAE and China. The meeting focused on DAFZA’s leading experience in transforming into one of the world’s most advanced free zones, amid wide commendation ...