Microsoft bid farewell to its Windows XP operating system by ending security support earlier this year.
What’s more, in July 2015, the IT developer will also stop offering users anti-malware support, in a move, experts say, that will effectively “put the nail in the coffin” for the second most widely used operating system, which has sold more than one billion copies.
Launched in 2001, Windows XP enjoyed a 25.27 per cent market share until May 2014, according to web analysers, Net Applications.
More worryingly, the system particularly commands a high presence among business users, particularly SMEs, where one out of five small businesses …Read more
Saudi crude exports fall to their lowest levels since October 2011; the Joint Oil Data Initiative (JODI) reveals.
Exports by the Kingdom reached a three-year low in June of 2014 with just 6,946 million barrels per day (bpd), when compared with the 6,987m bpd exported in May.
Nonetheless, the data published by JODI shows that this figure didn’t have much to do with crude production, which actually increased over the summer from 9,705m bpd in May to 9,780m bpd in June. Moreover, industry sources suggest that production reached 10m bpd in July.
Instead, data shows that oil use for power generation within Saudi …Read more
Dubai’s property market prices are finally cooling, a report by Phidar Advisory has found.
Following an overheated May and June, in the first six weeks of Q3 2014, average lease rates have dropped by 5.6 per cent for single family homes and 9 per cent for apartments.
In a report released on Tuesday, August 26, the Dubai-based consultancy firm explained that “although the market is technically undersupplied, rent inflation has slowed. This is likely due to ambitious expectations in H1-2014 that pushed up asked rents beyond affordability constraints. Housing demand is relatively elastic, but alternatives, such as sharing and relocation to other …Read more
More than 5.8 million tourists visited Dubai hotels since the beginning of the year, the Department of Tourism and Commerce Marketing (DTCM) has announced.
DTCM’s report suggests that an increase in F&B revenues, number of guests and the average length of stay have all contributed to $3.1 billion in H1 revenues, a 11 per cent increase from last year.
Helal Saeed Almarri, director-general at DTCM, explains that the reason for the surge is Dubai’s growing attraction as a family destination, diverse tourism offerings and an increase in hotel establishments.
The report also adds that Dubai experienced a particular rise in the number of …Read more
“The future of business in Africa is promising,” reveals a Dubai Chamber of Commerce and Industry report.
Released ahead of the Africa Global Business Forum 2014 – taking place on October 1 and 2 at Atlantis, the Palm – the study provides detailed research on key African markets to local investors.
Hamad Buamim, Dubai Chamber’s CEO, explains that he is particularly encouraged by the economic potential of Sub-Saharan Africa, as “an increase in economic reforms, rising fiscal spending and ties with fast-growing economies in Asia” are helping it become one of the world’s fastest-growing regions.
Nonetheless, despite its vast resources and accelerated growth …Read more
Ajmal perfumes is one of the largest fragrance brands in the Middle East, but getting there was not an easy journey.
“There are a lot of opportunities, but the problem is that people take too many shortcuts here. Compromising on the juice of a fragrance is very easy, but I would never do it. If you want to attain pure luxury, you have to attain good quality. If you look at any luxury product, people are paying money for the craftsmanship. They want to know the story, the history and where it has come from, because they want to use it …Read more
By Philip P. Merrell
Etihad’s equity alliance receives a double blow as questions are raised about the airline’s acquisition strategy in Serbia and Switzerland.
Earlier this month, Etihad’s chief, James Hogan, was in Rome celebrating the much-anticipated 49 per cent stake takeover of Alitalia. Having expanded its equity alliance to eight airlines, Hogan insisted that there would be no further acquisitions in 2014, and that the focus would now turn to consolidating the existing partnerships.
However, following months of public pressure, last Friday (August 15) Serbia’s government finally released the contracts it signed with Etihad in August 2013, in relation to …Read more
Global investors, hoping to cash in on the opening of the Saudi bourse, will only be able to own 20 per cent of individual companies.
Under the ‘draft rules’ of the upcoming changes, the Capital Market Authority, Saudi’s financial regulatory body, announced a series of caps that would limit the Tadawul’s exposure to foreign influence.
Namely, foreign investment institutions will only be able to own a maximum of ten per cent of the overall market. Currently valued at $580 billion, this would mean that Tadawul would be open to $58bn worth of investments from abroad. John Sfakianakis, an investment strategist, explains that …Read more
The Dubai government approves new regulations that will allow global hedge funds to enter Dubai’s International Financial Centre (DIFC).
The changes, which were issued by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, took effect last Thursday, August 21, and allow a new investment category, The Qualified Investment Fund (QIF), to participate in the DIFC.
QIF will be available to professional investors that, by hedging up to 50 people, can collectively accumulate more than $500,000 in a fund.
Furthermore, the new amendments will also aim to improve the structure and process of …Read more