China ended a six-month streak disposing of its US Treasury holdings in December, adding to its position for the first time since last May as the country’s central bank seeks to manage capital flight. The country, which ceded its status as the world’s largest owner of haven Treasuries in October to Japan, added $9.1bn of US sovereign debt to its reserves in the final month of 2016, […]
Upon the closing of the proposed merger between Computer Sciences Corp (CSC) and the Enterprise Services business of Hewlett Packard Enterprise (HPE), the new organisation will be renamed to DXC Technology before it begins its journey as a $26 billion IT services giant. The completion of the merger is slated for April 3, 2017, which will see DXC Technology list on the New York Stock Exchange under […]
By Michael Flaherty and Siddharth Cavale Procter & Gamble Co (PG.N), maker of Tide detergent and Gillette razors, will face ever greater pressure to slice costs and slow-growing divisions now that activist investor Trian Partners is a major shareholder. P&G’s shares hit a two-year high on Wednesday after Trian disclosed a stake in the consumer products behemoth, which is already trying to slim down by selling unprofitable […]
Joo Kim Tiah, the son of one of Malaysia’s wealthiest tycoons, sat on stage in the summer of 2013 as his new business partner announced their plans for a C$360m luxury condominium-hotel project on Vancouver’s most prestigious downtown thoroughfare. With characteristic salesmanship, Donald Trump bragged that the 63-storey glass tower on West Georgia Street would be “one of the great buildings, not only in Canada and the […]
The reflation trade is back, in earnest. On Wednesday, all-world stock indices traded at all-time highs for the first time since spring 2015. US 10-year bond yields rose back to 2.5 per cent. Bank stocks rallied, with Goldman Sachs at an all-time high for the first time in a decade. So did tech stocks — Apple is back at a record. All of this after a hawkish […]
By Roberta Rampton and Noah Barkin | WASHINGTON/BERLIN WASHINGTON/BERLIN U.S. Vice President Mike Pence heads to Europe this week to meet with allies seeking clarity on the Trump administration’s foreign policy strategy and its stance towards Russia after the resignation of the top White House national security aide. Pence, who has hewn more closely to Republican orthodoxy than his boss President Donald Trump, will attend the Munich […]
Wednesday 14:30 GMT Overview Global equities were on track to close at all-time highs as Wall Street hovers near record levels in the wake of comments from Federal Reserve chair Janet Yellen. And Ms Yellen’s more hawkish than forecast rhetoric has been backed up on Wednesday by stronger than expected US retail sales and inflation data that are pushing up the dollar and bond yields, while leaving […]
The chief executive of General Motors has flown to Germany as the US carmaker seeks to assuage concerns from local managers and unions about job losses amid talks to sell the carmaker’s ailing European business to French rival PSA Peugeot Citroën. Mary Barra and key lieutenant Dan Ammann arrived at Opel’s headquarters, GM’s subsidiary, on Tuesday morning, while PSA chief executive Carlos Tavares is pushing to meet […]
15 February 2017 Abu Dhabi, UAE – Held under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the Abu Dhabi International Offset Conference (ADIOC) begins today. ADIOC is organized by the Tawazun Economic Council and is being attended by the global defense industry, government officials and sector experts. The biennial […]
Submitted by Don Quijones via WolfStreet.com, Spain’s three biggest banks, Banco Santander, BBVA and Caixa Bank, have got off to a flying start this year having issued €8.6 billion in new debt, seven times the amount they sold during the same period of last year. The last time they rolled out so much debt so quickly was in 2007, the year that Spain’s spectacular real estate bubble […]
The four-star flagship hotel caters to the market with affordable package deals for all International explorers 15 February 2017 Dubai, UAE – In direct response to the demand from travellers’, Somewhere Hotels, one of Dubai’s most stylish mid-market hotel brands, recently opened the doors to its new 301-room hotel at the renowned and convenient location ‘Barsha Heights’, previously known as Tecom. Making this the second hotel opening […]
Your daily guide to community and cultural activities across the Emirates for February 15, 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 Abu Dhabi Film screening Sign […]
As central bankers seek to wean markets off quantitative easing and exit the dangerous experiment of negative rates, they increasingly fret about the resilience of credit markets. How worried should they be? The US Treasury’s Office for Financial Research, the European Central Bank and the Bank of England have all issued warnings in their financial stability reports voicing concern over whether we might see fire sales that […]
TOKYO Shares in Toshiba Corp (6502.T) tumbled on Wednesday after the conglomerate said it would book a $6.3 billion hit to its U.S. nuclear unit and may sell more of its prized flash-memory chip business than planned to urgently raise funds. Scrambling for capital, Toshiba said it would consider selling most, even all, of its stake in the chips business – a decision that has investors questioning […]
The big publishing story this week is about a Palestinian-American author who has sold her debut novel to Harper for a sizeable fee. Etaf Rum’s The Place an Arrow Shoots From sounds great: publisher Erin Wicks calls it “the story of three generations of Palestinian-American women living in Brooklyn as they struggle to reconcile their individual desires with the demands of their Arab-Muslim culture”. Their identities come […]
SoftBank’s billionaire founder Masayoshi Son, who has boasted of creating the “Berkshire Hathaway of tech”, has thrown himself into the world of private equity and hedge funds with a $3.3bn acquisition of US alternative asset manager Fortress Investment Group. The deal, which follows the Japanese group’s traditional focus on telecoms and internet, comes just as SoftBank is emerging as one of the world’s largest investors with the […]
When Federal Reserve chair Janet Yellen testifies before a Senate committee on the state of the economy on Tuesday, there will be plenty tuning in who believe the epitaph for the three-decade rally in the bond market has been rightly written. US president Donald Trump’s plan to ramp up government spending and axe corporate taxes threatens to accelerate inflation, push up interest rates and widen the deficit […]
On Valentine’s Day everyone is looking to celebrate love. But if you are a millennial, then you might have no problems breaking up and trading in a lover for the limelight. According to a study conducted by the social entertainment network Clapit, some millennials have no problem choosing fame over falling in love, getting married and having children. Clapit, the mobile-first platform that aims to helps users […]
The reaction to a strike at the world’s largest copper mine underlines the sharp reversal in fortune in one of the world’s key metals over the past four months. Copper has jumped 5 per cent in the past two days to a two-year high after a strike at the Escondida mine in Chile raised supply fears about a market that has been starved of investment. The dispute […]
14 February 2017 Infinite – IT Solutions has become a member of the Middle East Council of Shopping Centres (MECSC), a vibrant community of retail professionals dedicated to promote and develop the shopping industry across the Middle East. Infinite decided to join MECSC to actively participate in this professional forum for exchange of ideas and share its technological expertise gathered while deploying integrated IT solutions for companies […]
By Lucia Mutikani | WASHINGTON WASHINGTON U.S. producer prices recorded their largest gain in more than four years in January amid increases in the cost of energy products, but a strong dollar continued to keep underlying inflation at the factory gate tame. Rising raw material costs are boosting producer prices across the globe, notably in China, which is the biggest source of U.S. imports. But economists still […]
The US economy and fiscal policy face an uncertain path under the administration of Donald Trump, Janet Yellen warned on Tuesday as she declared “monetary policy is not on a preset course” but said it would be “unwise” to raise rates too slowly. Testifying before Congress on Tuesday, the Federal Reserve chair painted a picture of an economy with accelerating growth, higher inflation and a robust labour […]
When Israel declared independence in 1948, Jordan, along with five other Arab states, attacked Israel, occupied Judea, Samaria and eastern Jerusalem, and drove out Jewish residents. Again, in 1967, Jordan attempted to wipe out the Jewish State, but this time, Israel forced the Jordanian army back across the Jordan River. While the government of Israel was ambivalent about whether to retain the newly emancipated areas, the settler […]
The Business Roundtable indeed “appears to have significantly softened its stance on disclosure of political activity,” said John Wonderlich, executive director of the nonprofit Sunlight Foundation, which advocates for political transparency. The apparent shift, he said, “reflects a growing judgement that secret political spending violates our political norms and can create liabilities for businesses and their brands.” But David Keating, president of the nonprofit Center for Competitive […]
