Stock markets suffered their worst falls since the election of Donald Trump as Wall Street worries about the prospects for the US president’s pro-business agenda triggered a rush for financial havens. US markets led the declines, with the benchmark S&P 500 index tumbling 1.2 per cent — and breaking a run of 109 trading days without a drop of 1 per cent or more. The Dow Jones […]
Your daily guide to community and cultural activities across the Emirates for March 22, 2017, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. Ellen Fortini rounds up 10 things to do today in the UAE. Want to see your event listed here? Email us with the details and contact information at [email protected] newslide Al Ain Cultural talk Attend […]
ROME Italian Prime Minister Paolo Gentiloni said on Tuesday that he wants to send a strong message in favour of free trade when he welcomes U.S. President Donald Trump and other world leaders in Italy in May. Italy hosts the annual meeting of seven of the world’s biggest industrialised economies (G7) in the town of Taormina in Sicily on May 26-27. It will be Trump’s first scheduled […]
Tuesday 18:30 GMT What you need to know ● Sell off in financials drives S&P 500 down 1 per cent● Euro climbs to $1.08 and dollar index slips below 100● 10-year Treasury yield at lowest since start of month● Oil prices come under renewed pressure● Gold heads for fifth daily rise in a row——————- Overview A sharp and sudden sell-off for US financial stocks helped put the […]
(Image: file photo) NEW YORK — A lot of people woke up confused by the news this morning that the US government is banning electronics on some inbound flights from several Muslim-majority countries. They’re right. It doesn’t make sense. The simple rundown is that passengers on all airlines with direct flights from ten Middle Eastern and African airports — including in Turkey, Saudi Arabia, and Jordan — […]
DE LIMA SUPPORT While oral arguments continued on Tuesday at the Supreme Court on Sen. Leila de Lima’s petition questioning her arrest on drug trafficking charges, her supporters outside the court once again demand her release. —RICHARD A. REYES Justices of the Supreme Court on Tuesday hinted that detained Sen. Leila de Lima’s petition questioning her arrest might be headed for an outright dismissal due to violations […]
By Elisabeth O’Leary | EDINBURGH EDINBURGH While the economic case for Scottish independence once centred on oil, people like company director Niall McLean now argue that trade is the way to ensure their country’s future prosperity – and avoid the damage of the United Kingdom leaving the EU. Turning Scotland, which sells two thirds of its exports to the rest of Britain, into a heavyweight international trader […]
All the three major U.S. indexes opened higher on Tuesday, with the Nasdaq Composite hitting yet another record high, lifted by Apple. Apple (AAPL.O) rose 0.66 percent to an all-time high of $142.40 after the company unveiled a new version of its iPad tablet. The stock was the biggest boost to all the three major indexes. The gains were broad, with all the 11 major S&P sectors […]
MANILA The Philippines plans to file a strong protest against China after it announced preparatory work for an environmental monitoring station on a disputed shoal in the South China Sea, a Cabinet minister said on Tuesday. China five years ago started blockading the Scarborough Shoal, a rocky outcrop within the Philippines’ 200 mile exclusive economic zone (EEZ), and the United States has warned Beijing against carrying out […]
DUBAI The United Arab Emirates arrested political activist Ahmed Mansoor on charges of spreading sectarianism and hatred on social media, state news agency WAM reported on Tuesday, in a move criticised by rights groups. Mansoor, an electrical engineer and poet, had used social media “to publish false information and rumours as well as promoting (a) sectarian and hate-incited agenda,” WAM quoted the public prosecutor on Tuesday as […]
TOKYO Asian shares hit 21-month highs on Tuesday while the dollar and U.S. bond yields were on the backfoot on the prospect of a less hawkish than previously expected Federal Reserve policy trajectory. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.3 percent in its eighth consecutive day of gains with tech-heavy Seoul and Taipei shares .KS11 .TWII hitting two-year highs while Hong Kong’s Hang […]
Chinese networking giant Huawei will be constructing and opening a datacentre in New Zealand within two years as well as expanding its research centre in Wellington and opening another one in Christchurch, it has been reported. According to a report by Stuff NZ, Huawei will be spending around NZ$400 million over the next five years in an effort to source products and services in addition to opening […]
By Henning Gloystein | SINGAPORE SINGAPORE Oil prices rose early on Tuesday on expectations that an OPEC-led production cut to prop up the market could be extended, and as strong demand was seen to slowly erode a global fuel supply overhang. Prices for front-month Brent crude futures, the international benchmark for oil, were at $51.76 per barrel at 0043 GMT, up 14 cents, or 0.3 percent, from […]
Your daily guide to community and cultural activities across the Emirates for March 21, 2017, including performances, festivals, art exhibitions, film creenings, health and fitness events, talks, classes, workshops and family fun. Aarti Jhurani rounds up 10 things to do today in the UAE. Want to see your event listed here? Email us with the details and contact information at [email protected] newslide Nationwide New film In The […]
The release of the Panama Papers exposed an elaborate kickback scheme whose tentacles spread from the Caribbean island of Aruba to warehouses in Doral to the offshore banking haven of Panama City, according to a lawsuit filed in Miami federal court. The scam was allegedly hatched by Egbert Koolman, an employee of Aruba’s state-owned telecommunications provider, Setar. Koolman’s job was to buy phones from suppliers around the […]
Rhetoric has recently trumped reality. It has become a misconceived bit of common “knowledge” that the United States of America is a bastion of free trade. Little could be further from the truth. The “freest” nation on earth, as we are taught to believe, imposes a staggering number of tariffs, import and export bans, sanctions and embargoes. Yet somehow “free trade” is blamed for the financial ills […]
By Matt Spetalnick and David Brunnstrom | WASHINGTON WASHINGTON The Trump administration is considering sweeping sanctions aimed at cutting North Korea off from the global financial system as part of a broad review of measures to counter Pyongyang’s nuclear and missile threat, a senior U.S. official said on Monday. The sanctions would be part of a multi-pronged approach of increased economic and diplomatic pressure – especially on […]
By Sarah N. Lynch | WASHINGTON WASHINGTON Shareholder activists are pushing back against a major business trade group’s request that the White House use its influence on the U.S. securities regulator to make it harder to get governance, political or environmental issues onto corporate ballots, according to a letter seen by Reuters on Monday. Company boards and CEOs have increasingly faced requests by investors to include various […]
Photo The bodies of migrants killed in an aerial attack on a boat off Yemen were brought to the port city of Al Hudaydah. Credit Abdel-Karim Muhammed/Associated Press The United Nations on Monday called for an inquiry into an aerial assault on a boat of migrants last week off Yemen’s Red Sea coast that left at least 42 people dead. The attack on the boat, believed to […]
When Tim Armour graduated from Middlebury College, a liberal arts institution in Vermont, he faced a conundrum. He could either accept a graduate programme slot at a West Coast investment group, or go and run a windsurf shop in Florida. Because he loved to windsurf but did not want to turn down a more sensible job, he asked the asset manager whether he could put off the […]
While VIX declined last week, the cost of protecting against major market swings has spiked above its previous Brexit-vote-day peak, reaching a fresh all-time high. As a reminder, CBOE explains, SKEW, is calculated from the prices of S&P 500 out-of-the-money options. SKEW typically ranges from 100 to 150. A SKEW value of 100 means that the perceived distribution of S&P 500 log-returns is normal, and the probability […]
NEW YORK Billionaire philanthropist David Rockefeller, former head of Chase Manhattan Corp and patriarch of one of the most famous and influential American families, died on Monday, a family spokesman said. He was 101. Rockefeller, who reportedly gave away nearly $2 billion in his lifetime, died in his sleep of congestive heart failure at his home in Pocantico Hills, New York, spokesman Fraser Seitel said in a […]
U.S. stocks reversed course to trade slightly higher in late morning trading on Monday, helped by a rise in technology stocks including Apple. Apple (AAPL.O) rose nearly 1 percent, hitting a new record-high of $141.34, lifting the tech-heavy Nasdaq Composite index to yet another intraday high. The iPhone-maker’s stock could rise another 10 percent in six months, Barron’s wrote in an article posted Saturday. The U.S. stock […]
LONDON/BRUSSELS Prime Minister Theresa May will trigger Britain’s divorce proceedings with the European Union on March 29, launching two years of negotiations that will reshape the future of the country and Europe. May’s government said her permanent envoy to the EU had informed European Council President Donald Tusk of the date when Britain intends to invoke Article 50 of its Lisbon Treaty – the mechanism for starting […]
