Business

How the Super Rich Spend Their Money…in the Middle East?

How the other .001 percent lives in the Middle East By Edward Mermelstein For the past two decades, an exorbitant amount of wealth has been created in the Middle East. In fact, it has been reported that in the first half of 2016, more than $10 billion flowed out of the region. The question is, where

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EXCLUSIVE: Saygin Yalcin’s top tips for a successful startup

Saygin Yalcin is a German entrepreneur of Turkish descent. He is the founder and CEO of SellAnyCar.com, and a partner at one of the region’s leading e-commerce company Souq.com Group, which was recently acquired by Amazon for $650 million. But that’s not all. Yalcin made headlines after he gifted a $250,000 Rolls Royce to Kendall Jenner last year on

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Iranian TV Executive Shot Dead in Turkey

ISTANBUL, April 30 – The head of an Iranian satellite television network who last year was sentenced in absentia to six years in prison by a Tehran court was shot dead in Istanbul together with a business partner, Turkey’s Dogan news agency said on Sunday. GEM TV founder Saeed Karimian and an associate were driving

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Orange CEO under fire at Tapie affair trial of IMF’s Lagarde

By Chine Labbé PARIS, Dec 16 – French telecoms boss Stephane Richard was sharply criticized by one of the judges and by a witness during the negligence trial of IMF chief Christine Lagarde in Paris this week. Richard, the chief executive of Orange, is a target of investigators in a related inquiry which has yet

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Ten non-EU Financial Centres Authorised to do Business in the EU

BRUSSELS, Dec 16 – The European Union has authorized a batch of countries outside the bloc to offer clearing and trading of securities to EU firms, under a regime that Britain may also have to use after Brexit. The EU’s executive European Commission said on Friday it has granted so-called equivalence to the clearing houses

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Cost of Pump-at-Will Oil Policy Spurred Saudi OPEC U-Turn

By Rania El Gamal and Dmitry Zhdannikov DUBAI/LONDON, Dec 15  – Saudi Arabia has long said it could produce as much as 12 million barrels per day (bpd) of oil if needed, but that pump-at-will claim – which would require huge capital spending to access spare capacity – has never been tested. Sources say the

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India’s Demonetisation Drive Drags Down Nepal’s Economy

By Gopal Sharma and Manoj Kumar KATHMANDU/NEW DELHI, Dec 15 – India‘s scrapping of high-value bank notes last month has dragged down economic growth in neighbouring Nepal with trade, remittances and tourist numbers all down, BMI Research, a group company of the Fitch rating agency, said on Wednesday. BMI has revised down its forecast for

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Farming Without Soil Seen as Solution in Land Without Water

By Seham El Oraby CAIRO, Dec 14 –  Growing lettuce in the desert is not most people’s idea of how to make a success of farming, but Amr Bassiouny believes he is on to something. The 30-year-old chief executive of Egyptian Hydrofarms says he is growing salad greens at his farm on the outskirts of

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Brexit Endangers U.S.-U.K. Trade as Some U.S. Firms Could Move

LONDON, Dec 14 – Brexit could hit trade relations between Britain and the U.S, with nearly 40 percent of American firms considering moving their British office to the EU and two-thirds saying the vote is impacting investment choices, according to a survey. Food and beverage, life sciences and financial services firms were most likely to

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