HAVANA The head of the U.S. Chamber of Commerce met with Cuban President Raul Castro and in separate meetings with members of Castro’s economic cabinet on Friday, as they prepare for the advent of a more hostile Trump administration next week. The chamber has been urging the Cuban government to sign a number of agreements with major companies such as General Electric, negotiated over the last 18 […]
“We open a new hotel every 36 hours,” Sébastien Bazin remarks, after outlining the impressive portfolio of French hospitality chain AccorHotels, with 4,100 hotels spread across 95 countries and employing 240,000 people. The significant sum includes properties gained through the recent acquisition of FRHI, a hotel management company formerly owned by Qatar Investment Authority, billionaire Saudi Prince Alwaleed bin Talal’s private investment arm Kingdom Holding and Oxford […]
The Middle East Smart Landscape Summit 2017 will be held on 15th and 16th May in Dubai Dubai, United Arab Emirates, January 12, 2017 Rapid population growth coupled with people across the world migrating to cities has fueled the growth rate of urban development. With rapid urbanization and diminishing natural landscapes and greenery, the need for managing urban areas and developing sustainable cities is at the core […]
By Kylie MacLellan | LONDON LONDON The British government must publish a detailed plan for Brexit by mid-February setting out its position on future membership of the European Union’s single market and customs union, a committee of lawmakers said in a report published on Saturday. Parliament’s Exiting the EU committee, made up of lawmakers from several parties including Prime Minister Theresa May’s Conservatives and opposition Labour, also […]
If Donald Trump was concerned by the clashing views that emerged from his cabinet nominees in the first days of Senate confirmation hearings, he did not show it on Friday. “All of my Cabinet nominee (sic) are looking good and doing a great job,” the president-elect tweeted before sunrise in New York. “I want them to be themselves and express their own thoughts, not mine!” But the […]
Citadel Securities, one of the largest traders on the US equity market, has agreed to pay $22.6m with US markets regulators to settle charges it misled customers over the prices they were getting for some of their deals. The Securities and Exchange Commission said on Friday that two of the algorithms Citadel used to execute orders on behalf of retail investors had not sought to obtain the […]
Rex Tillerson, the former Exxon chief, didn’t get where he is by being nice to China. When Beijing tried to force his company to abandon a gas exploration project in the waters off Vietnam in 2008, ExxonMobil showed it the finger. BP, Chevron, ConocoPhillips, and several others caved to Chinese pressure. ExxonMobil is still there, drilling on a Vietnamese license in waters also claimed by China. Is […]
By Jonathan Stempel | NEW HAVEN, Conn. NEW HAVEN, Conn. A former Jefferies Group Inc bond trader being tried a second time for defrauding clients about prices of mortgage bonds should be convicted because he lied repeatedly to his own customers to boost profits, a U.S. prosecutor argued on Friday. Jesse Litvak, 42, was “motivated by greed,” and it was no excuse that other traders might have […]
Theresa May, the UK prime minister, bookended a volatile week for sterling, prompting a sharp rise in the cost of hedging against falls in the pound as she prepares to set out more information about her Brexit negotiating strategy. The pound rallied against the dollar on Friday, at one stage rising 0.6 per cent to regain the $1.22 mark. But traders are positioned for sterling to fall, […]
A report says that WhatsApp messages could be read without its billion-plus users knowing due to a security backdoor The Facebook-owned mobile messaging service WhatsApp is vulnerable to interception, the Guardian newspaper reported on Friday, sparking concern over an app advertised as putting an emphasis on privacy. The report said that WhatsApp messages could be read without its billion-plus users knowing due to a security backdoor in […]
Chinese Premier Li Keqiang (R) meets with Nguyen Phu Trong, General Secretary of the Communist Party of Vietnam Central Committee, in Beijing, capital of China, Jan. 13, 2017. (Xinhua/Li Tao) BEIJING, Jan. 13 (Xinhua) — Senior Chinese leaders Li Keqiang, Zhang Dejiang and Wang Qishan met with General Secretary of the Communist Party of Vietnam (CPV) Central Committee Nguyen Phu Trong in Beijing on Friday, vowing to […]
By Trevor Hunnicutt | NEW YORK NEW YORK BlackRock Inc (BLK.N), the world’s biggest asset manager, reported better-than-expected quarterly profits on Friday as it clamped down on expenses and investors stormed into lower-cost funds to take advantage of a year-end rally. Investors poured $88 billion into the company’s market-tracking index investments and its iShares exchange-traded funds during the quarter, while pulling $546 million from funds managed actively […]
Throughout the presidential campaign and since Donald Trump’s election, former diplomats, retired generals, and foreign-policy analysts have attempted to decipher, explain, and predict his foreign-policy strategy. Will he pursue the big-stick model of Teddy Roosevelt? Embrace a neo-Nixonian “madman” strategy? Is Trump actually a champion of foreign-policy realism, or perhaps no realist at all? But all those questions make the same mistake — they assume the incoming […]
BlackRock says it will raise its quarterly dividend after reporting the largest net inflows of new client money in its history in 2016, despite a 5 per cent fall in net income for the year. Reporting its fourth quarter and full-year results, the world’s largest asset manager said that it took in total net inflow of $202bn in 2016, as its total assets under management rose by […]
Fragile market conditions, poorly controlled algorithms and inexperienced staff all contributed to last October’s flash crash in sterling, global policymakers have concluded, with the Bank for International Settlements urging banks and other market participants to learn from their mistakes. The BIS — the central bank for central banks — said on Friday that no single event was responsible for the extraordinary 9 per cent plunge in the […]
By Mai Nguyen | HO CHI MINH CITY HO CHI MINH CITY Outgoing U.S. Secretary of State John Kerry said on Friday he was confident the next administration would stick to the same peaceful principles on Asian security as the current one, despite hawkish comments from President-elect Donald Trump’s cabinet picks. Referring to the disputed South China Sea, Kerry told a university audience in Ho Chi Minh […]
By Jamie McGeever | LONDON LONDON European and U.S. stocks looked to end a sluggish week on a high note on Friday, while the dollar was on track for its biggest weekly fall in two months and U.S. bond yields eyed their longest run of weekly declines since July. Investors largely shrugged off figures that showed Chinese exports fell the most last year since 2009, and will […]
Takata, the Japanese automotive supplier at the centre of a global recall crisis over its exploding airbags, is expected to plead guilty as early as Friday to criminal wrongdoing in the US, as the Obama administration targets the global auto industry with a final burst of fines over environmental and safety issues. Takata is expected to agree to a criminal settlement with the Department of Justice on […]
After the excitement around Opec agreeing oil supply cuts with Russia and other non-members at the end of last year, attention in 2017 has quickly shifted to the next key question: will they actually deliver all the promised cuts? A group of companies believe that they are positioned to deliver that answer, trumpeting their years of experience tracking global oil flows, using everything from modern satellite technology […]
By Ingrid Melander | PARIS PARIS Every week, a small group of Marine Le Pen’s aides brainstorm on how to achieve what many say is impossible: change how most French people view her to get her elected president in May. The “Idea-Image” committee of Le Pen’s far-right National Front (FN) consists of about 10 party officials and supporters. It held its first meeting in October as the […]
The proposal — opposed by businesses that make and use the solvent — comes eight years after the European Union approved a ban on sales of methylene chloride paint strippers to consumers and companies, with the exception of businesses using it in industrial sites with protective equipment and other cautionary measures. The chemical is also known as dichloromethane. The would-be rule is the third the EPA has […]
By Patricia Zengerle | WASHINGTON WASHINGTON The Obama administration on Thursday announced the repeal of a measure granting automatic residency to virtually every Cuban who arrived in the United States, whether or not they had visas, ending a longstanding exception to U.S. immigration policy. The end of the “wet foot, dry foot” policy, which allowed any Cuban who reached U.S. soil to stay but returned any picked […]
Donald Trump’s upcoming presidency has led many investors to size up oil, coal and gold trades that could benefit from the sweeping changes he has promised. But a growing band of specialist commodity traders think investors may be overlooking the one raw material in line for bigger price gains than others when the US president-elect takes office: uranium. While interest in the key fuel for nuclear power […]
Rashid Bin Fahd: ‘Bilateral relations between the UAE and India are witnessing continuous development and strong potential for greater prosperity in the next phase’ Abdullah Al Saleh: ‘India’s largest trading partners.. and UAE is the largest Arab investor in India and tenth globally’ Abu Dhabi, January 12, 2017 A high-level delegation from the UAE is participating in the 8th eighth Vibrant Gujarat Global Summit which kicked […]
