Paul Polman thought it was just going to be an informal catch-up. But it quickly became clear that Alexandre Behring, chairman of Kraft Heinz, had something very specific on his mind when he visited Unilever’s art deco headquarters in London last month. Had Mr Polman, chief executive of Unilever since 2009, ever considered a collaboration with Kraft Heinz, Mr Behring wanted to know. Mr Polman took this […]
Despite suggestions to the contrary, the demand for luxury products and services was continuously rising in the UAE in 2016, albeit at a slower pace. This proves that there is a growth of wealthy and ultra-rich consumers; key potential customers of the luxury segment, which is a contributing factor in the growth of the luxury market. Not only that but demand for luxury is steadily increasing here […]
Vocus Communications has announced its financial results for the first half of FY17, revealing a net profit of AU$47.2 million, up from AU$24.2 million a year previous due to its acquisitions of M2 and Nextgen. Statutory earnings before interest, tax, depreciation, and amortisation (EBITDA) were AU$168.3 million, up from AU$60.7 million a year previous, while underlying EBITDA — excluding acquisition, integration, and other costs — was AU$187.2 […]
MANILA The foreign minister of the Philippines expressed doubt on Wednesday that a maritime sovereignty dispute with China could be resolved “during our lifetime”, so it was better to set it aside, engage Beijing and avoid an armed confrontation. In a defence of President Rodrigo Duterte’s decision not to push China to abide by an international arbitration ruling that went in Manila’s favour last year, Foreign Secretary […]
22 Feb 2017, Doha, Qatar The Commercial Bank (P.S.Q.C.) (“the Bank”), its subsidiaries and associates (“Group”) announced today its financial results for the full year ended 31 December 2016. The Group reported a net profit of QAR 501.4 million as compared to QAR 1,434 million for the same period in 2015, a decrease of 65%. The Bank reported a net profit of QAR 683 million (2015- QAR […]
|By Arabian Post Staff| Saudi Arabian Oil Co may offer discounted shares of its record breaking IPO to Saudi nationals, Bloomberg reported quoting sources. It said the company has discussed methods to structure the sale so that retail investors in Saudi Arabia can buy shares for less than those buying on international exchanges. Aramco, as the company is known, is considering listing venues in the U.S., U.K. […]
By Shinichi Saoshiro | TOKYO TOKYO Asian stocks edged up on Wednesday, joining a record-setting night for world markets as investors cheered upbeat factory activity in Europe and solid earnings on Wall Street. The dollar was steady after hawkish comments from top Federal Reserve officials bolstered expectations the world’s no. 1 economy was strong enough to keep policymakers on course to further raise rates this year. MSCI’s […]
Rising angst over the outcome of France’s presidential election sent the premium investors are demanding to own French debt instead of German bonds to a new post-eurozone crisis high. The gap between the yield on 10-year French debt and German equivalent bonds exceeded 0.81 percentage points for the first time since August 2012, as a fresh poll showing far right candidate Marine Le Pen is on course […]
By Idrees Ali | WASHINGTON WASHINGTON China, in an early test of U.S. President Donald Trump, is nearly finished building almost two dozen structures on artificial islands in the South China Sea that appear designed to house long-range surface-to-air missiles, two U.S. officials told Reuters. The development is likely to raise questions about whether and how the United States will respond, given its vows to take a […]
By Fergus Jensen | JAKARTA JAKARTA Saudi Arabia’s King Salman will visit Jakarta and Bali on the Indonesian leg of his Asian tour next month, bringing 1,500 people in his entourage including 10 ministers, Indonesian officials said. “This is a very historic visit for us,” Cabinet Secretary Pramono Anung told reporters on Tuesday, adding that the king would be in Indonesia from March 1 to 9. He […]
Yahoo agreed to take a $350m cut on the original $4.8bn sale of its core business to Verizon, becoming one of the first major US companies to revise deal terms because of a cyber attack. Verizon, the US telecoms company, will now pay the California-based internet company $4.5bn, Yahoo said on Tuesday, ending months of uncertainty about the future of the deal first agreed in July last year. […]
By Tom Allard and Liz Lee | KUALA LUMPUR KUALA LUMPUR Ri Jong Chol, a North Korean arrested in the probe into last week’s murder of the half-brother of the isolated state’s leader, lived in Malaysia for more than three years without working at the company registered on his employment permit or receiving a salary. Ri, 47, had a Malaysian work visa that showed he was an […]
U.S. News & World Report Philippine Senator Urges Cabinet to Stop ‘Sociopathic Serial Killer’ DuterteU.S. News & World ReportPhilippine Senator Leila de Lima gestures during a news conference at the Senate headquarters in Pasay city, metro Manila, Philippines September 22, 2016. REUTERS/Romeo Ranoco Reuters. MANILA (Reuters) – A staunch critic of Philippine leader …President Duterte is a ‘sociopath serial killer’ unfit to lead, says senatorEagle RadioPhilippines’ Duterte a […]
Tuesday 08:45 GMT Overview European stocks are easing back after a mixed Asia session as Wall Street looks to re-enter the fray at record levels. The dollar is stronger and Treasury yields are moving up as expectations build of tighter US monetary policy, a scenario that is hurting gold. Hot topic European government bond markets remain a focal point for investors after an opinion poll showed Marine […]
BORACAY, Philippines Foreign Ministers of the Association of South East Asian Nations are worried about “recent developments” in the South China Sea and urged restraint and dialogue to prevent any escalation, the Philippine foreign secretary said on Tuesday. “A number of ministers expressed concern over recent developments and escalation of activities in the area which may further raise tensions and erode trust and confidence,” Foreign Secretary Perfecto […]
Kacific Broadband Satellites has announced that it will provide a 100Mbps satellite broadband service to under-served areas across more than 20 countries in South East Asia and the Pacific through a 702 Boeing satellite. The Kacific-1 satellite, being built by Boeing, will provide broadband via the projection of 57 Ka-band narrow beams targeted at geographically remote locations throughout those 20 countries, with the service to launch in […]
Australian Prime Minister Malcolm Turnbull has reiterated that parts of the Trans-Pacific Partnership (TPP) trade deal are still worth salvaging despite the United States’ withdrawal last month, with Australia to continue pushing for a revised deal during a meeting in March with the remaining TPP members in Chile. “While Australia is disappointed by the decision of the United States to withdraw from the Trans-Pacific Partnership, we are […]
HONG KONG Asian stocks held near 1-1/2-year highs in subdued early trade on Tuesday as a holiday in the United States left investors with few catalysts, while the euro nursed overnight losses as lingering concerns about the looming French election rattled its bonds. Political concerns have been at the front and center of investors’ minds over the past week or so, with markets wary about the outcome […]
DHAKA Bangladesh’s foreign minister called on the international community on Monday to address Myanmar’s treatment of its Rohingya Muslim minority, tens of thousands of whom have fled in recent months to Bangladesh from its mainly Buddhist neighbour. Speaking at a meeting with Yanghee Lee, the United Nations Special Rapporteur on human rights in Myanmar, who is in Dhaka on a three-day visit, A. H. Mahmood Ali said […]
As the world’s oil traders descend on London this week, the hot subject will be how to keep North Sea Brent, the benchmark for the global oil price, fit for purpose. S&P Global Platts , the oil pricing agency, is trying to execute the biggest overhaul of North Sea oil trading in a decade, with plans to rejig how prices in the region are set ahead of […]
Here we go again. The premium investors are demanding to hold French over German 10-year debt has hit a fresh post-eurozone crisis high today – exceeding 0.81 percentage points for the first time since August 2012. The yield gap has swollen to its highest in over four years this month, reflecting investor jitters about France’s upcoming and unpredictable presidential elections in three months’ time. France’s 10-year bond […]
KUALA LUMPUR The son of Kim Jong Nam, the estranged half-brother of the North Korean leader who was murdered in Kuala Lumpur last week, will arrive in the Malaysian capital late on Monday, according to an airline source and a media report. An airline source said Kim Han Sol was arriving in Kuala Lumpur on an AirAsia flight from Macau. Malaysian authorities have said they will release […]
LONDON Shares in Anglo-Dutch consumer goods group Unilever (ULVR.L) (UNc.AS) dropped 8 percent on Monday after U.S. rival Kraft Heinz Co (KHC.O) abruptly ditched its surprise $143 billion merger proposal. Backed by Warren Buffett and the private equity firm 3G, Kraft had wanted to buy Unilever to build a global consumer goods giant but its offer was flatly rejected on Friday by the maker of Lipton tea […]
Two Filipino films are screening at this week’s Glasgow Film Festival, which opened in the Scottish city yesterday (February 15) and will run until February 26. Lav Diaz’s acclaimed film, Ang Babaeng Humayo (The Woman Who Left) will screen as part of the festival’s CineMasters section, which features works by renowned veteran directors from across the globe. Shot in black-and-white, The Woman Who Left won the Golden […]
