NEW YORK Jeffrey Gundlach, chief executive officer of DoubleLine Capital, said on Wednesday he expected a short-term rally in U.S. Treasuries and that investors should “use the strength” in U.S. stocks to take profits and diversify in overseas markets. “I am surprised with the relentless nature” of equities after the election of U.S. President Donald Trump, Gundlach said on CNBC. Gundlach, who oversees more than $101 billion […]
How much does the Gulf’s traditional folk music have in common with one of America’s greatest art-forms – jazz? Far more than any musicologist might realise, argues Tarek Yamani, the trailblazing UAE-based pianist, who exposes and explores the shared rhythmic strands linking these two distinct disciplines in an ambitious new, multi-faceted project. Commissioned by the Abu Dhabi Festival, Yamani’s conceptual new album Peninsular will have its live […]
The White House will propose large spending cuts on Thursday for the state department, public broadcasting and environmental programmes as part of its preliminary budget for the 2018 fiscal year. Administration aides call it an “America First” budget — with greater spending on defence, law enforcement and veteran affairs, as well as new education programmes that emphasise school choice. The last are a pet project of Betsy […]
A retired Navy admiral charged along with eight military officers with corruption in the “Fat Leonard” bribery case hosted and paid for a lavish sex party in the MacArthur Suite of the Manila Hotel in the Philippines – and used “historical memorabilia” in the room during sex acts, according to a 78-page federal indictment. Rear Adm. Bruce Loveless, while on a port visit on USS Blue Ridge […]
By Dustin Volz | WASHINGTON WASHINGTON The U.S. government on Wednesday unsealed charges against two Russian spies and two criminal hackers for allegedly pilfering 500 million Yahoo user accounts in 2014, The indictments, announced at a news conference in Washington, represent the first time the U.S. government has criminally charged Russian officials for cyber offenses. The content of at least 30 million accounts were accessed as part […]
Kuwait, 15 March 2017 Dubai-based flydubai’s inaugural flight to Sylhet landed today and was greeted by a traditional water cannon salute. Upon arrival, a flydubai delegation led by Sudhir Sreedharan, Senior Vice President Commercial for GCC, Subcontinent and Africa, was met by H.E. Rashed Khan Menon, Minister of Civil Aviation and Tourism, along with local officials from the Ministry of Finance, Ministry of Civil Aviation and Tourism, […]
Agricultural traders and investors are watching the debut of a new derivative product that will allow them to bet on the benchmark price of Black Sea wheat. Wheat is the largest traded grain on the international markets and Russia became the leading exporter last year. Russia, Kazakhstan and Ukraine — collectively known as the Black Sea region among grain traders — accounted for just under a third […]
It is fitting that just a few hours until the Fed’s second rate hike in two quarters, and one day after Goldman downgraded global stocks to Neutral for the next 3 months, not to mention with the results of the anticipated Dutch election due shortly, that global stocks as well as S&P futures are higher, while crude oil has finally managed to stage a rebound as the […]
By Kevin Yao and Ryan Woo | BEIJING BEIJING China’s Premier Li Keqiang reassured investors on Wednesday that the world’s second-largest economy is strong and not at risk of a hard landing, while stressing Beijing’s support for globalization and free trade at a time of rising protectionism. Li also reiterated that China does not want a trade war with the United States, and urged talks with Washington […]
Shares in Cathay Pacific fell as much as 6.9 per cent on Wednesday after the Hong Kong flag carrier swung to its first annual loss since 2008. The airline reported a net loss of HK$575m ($74m) for 2016 in the face of increased competition from mainland Chinese airlines and falling demand for its premium class seats. The net loss compares with a HK$6bn profit reported in 2015, […]
China plans to introduce a bond trading link between Hong Kong and the mainland by year-end, according to premier Li Keqiang. Dubbed “Bond Connect”, the programme would operate alongside the existing Stock Connect system that allows international and mainland investors their only direct access to each others’ markets. On Wednesday, the Chinese premier said: “We are preparing to implement for the first time this year a bond […]
BEIJING Chinese Premier Li Keqiang said on Wednesday that China hopes to maintain peace and stability in the South China Sea by pushing forward with negotiations for a code of conduct for rival claimants in the disputed waters. Addressing a news conference at the end of the annual meeting of China’s parliament, Li said that “substantive progress” has been made on the code. Negotiations began in 2010 […]
TOKYO Shares in Toshiba Corp tumbled on Wednesday after it said it would consider a sale of Westinghouse but did not offer any clarity on whether it would proceed with a Chapter 11 filing for the U.S. nuclear unit – a move that could stem losses. Toshiba’s failure to submit audited third-quarter earnings on Tuesday and its announcement of an expanded probe into Westinghouse also contributed to […]
As the UAE continues to evolve, Standard Chartered is at the forefront of innovative financial services. By investing heavily in the digital space, not only does Standard Chartered future-proof investments, but continue to explore new and exciting opportunities, as Julian Wynter, chief executive officer of Standard Chartered UAE, explains. What macro-economic fundamentals make the UAE such a good market for Standard Chartered? For us, the UAE continues […]
Wednesday 02:40 GMT Overview A rally in crude oil prices that erased the losses of the previous session failed to bolster energy stocks in Asia, as bond and currency traders also shunned major moves ahead of the US Federal Reserve’s interest rates decision later in the day. Hot topic Crude was climbing in Asia after a slide on Tuesday. Brent, the international benchmark, was up 1.3 per […]
Your daily guide to community and cultural activities across the Emirates for March 15, 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 Abu Dhabi Film screening Book […]
Oil prices have fallen almost 10 per cent in the past week to their lowest level since Opec agreed to cut output in November. Here are five factors contributing to the renewed bout of selling that could dictate whether Brent crude can hold above $50 a barrel. 1. Shale The US shale industry has come back with a bang, with oil prices back above $50 a barrel. […]
By Katharine Houreld | NAIROBI NAIROBI Pirates have hijacked an oil tanker with eight Sri Lankan crew on board, Somali authorities said on Tuesday, the first time a commercial ship has been seized in the region since 2012. Security forces have been sent to free the Aris 13, a regional police official said late on Tuesday. Graphic on track of suspected hijacked tanker: http:// fingfx.thomsonreuters.com/gfx/ce/3/868/868/ARIS13.png Graph showing […]
By Simon Carraud and Brian Love | PARIS PARIS Francois Fillon’s troubled election campaign suffered yet another blow on Tuesday when magistrates put him under formal investigation on suspicion of embezzling state funds, a first for a presidential candidate in France. Election graphic – here With less than six weeks to go until the first round of voting, Fillon has been unable to draw a line under […]
Tuesday 15:10 GMT What you need to know ● Pound under pressure amid Brexit and Scottish secession worries● Sterling drops below $1.22 and euro edges up towards 88p● S&P 500 down 0.5 per cent as sliding oil hits energy stocks● Treasury yields little changed ahead of Fed decision——————- Hot topic The UK pound is back under pressure as traders become concerned that Edinburgh’s demand for a another […]
MANILA The Philippines went on the offensive on Tuesday to assert its sovereign rights over a fishing ground in the Pacific Ocean, stressing a need to protect it after a Chinese survey ship was monitored in the area last year. Manila has lodged a diplomatic protest with Beijing after a Chinese vessel was tracked moving back and forth over Benham Rise, a vast area east of the […]
MOGADISHU // Pirates have hijacked an oil tanker off the coast of Somalia, officials and a piracy expert said on Tuesday. It is the first hijacking of a large commercial vessel there since 2012. The Aris 13 on Monday reported being approached by two skiffs, said John Steed from the organisation Oceans Beyond Piracy. Mr Steed said eight crew members were aboard the ship, which had been […]
BANGKOK: Thai customs have confiscated 21 rhino horns with an estimated value of nearly US$5 million in the biggest such seizure in Thailand for years, officials said on Tuesday. Thailand has become a major transit point for the trade in endangered species to other Asian countries. The seizure of the nearly 50 kg (110 lb) of rhino horn came days after 300 kg of elephant ivory was […]
The Gulf’s healthcare industry is expected to receive the highest volume of investments in 2017 among non-oil sectors as GCC countries seek to further diversify their economies, according to a new survey. CFA Institute, the global association of investment professionals, said its annual Middle East Societies Market Sentiment survey also forecse an increase in hospitality and tourism investment. It said in a statement that in Saudi Arabia, […]
