|From Anand Vardhan in Denpasar, Bali| The Middle East crisis, which has seen the diplomatic isolation of Qatar last week, is expected to impact Indonesia’s tourism and lead to a consequential drop in foreign earnings. Bali, the single largest tourist destination of Indonesia, has been receiving some 400,000 visitors via Qatar, of which 70% are tourists. The anxiety is all the more heightened as a majority of these […]
|By Saifur Rahman | Executive Editor|Emirates, the world’s largest carrier of international passengers, has raised US$47.43 billion (Dh174 billion) to finance its fleet over the last 10 years, its recently-released annual report for 2016-17 shows. “Having raised Dh174 billion (US$47.3 billion) over the last 10 years, Emirates continues to maintain a well-diversified and evenly spread financing portfolio. Tapping into various sources of funding, both in terms of […]
|By Arabian Post Staff|The London High Court has upheld the injunction granted to ICICI Bank UK against leading diamond merchant family of Mehtas, considered legends in the diamond trading business and pioneers in Indian industry’s inroads to Antwerp. This means that the well-known Mehta family of Belgium lost their bid in London’s High Court to unfreeze certain of their family members’ assets, as they continue to be […]
|By Matein Khalid| The financial markets finally cottoned on the increasingly sordid political realities created by the Trump White House. Trump could well be impeached for obstruction of justice if he tried to pressure FBI Director James Comey to drop an investigation on disgraced General Michael Flynn’s contacts with Russian intelligence before the election. The appointment of a special prosecutor to investigate the scandal means Washington is […]
By Pete Schroeder | WASHINGTON WASHINGTON U.S. Treasury Secretary Steven Mnuchin told lawmakers Thursday that the Trump administration does not actually support separating investment and commercial banks. The administration has previously expressed support for some return of the Glass-Steagall Act, which established a firewall between investment and commercial banking. But Mnuchin was explicit before the Senate Banking Committee that that vision did not include breaking up large […]
Interested in precious metals investing or storage? Contact us HERE Posted with permission and written by John Rubino CLICK HERE FOR ORIGINAL) By now everyone with an Internet connection is aware of the “ransomware” attack that shut down hundreds of thousands of computers over the weekend. The fact that the onslaught is just beginning — as the military-grade hacking tools developed by […]
Lubna Qassim is no career diplomat, but in her varied legal and political career, she has had the privilege of walking the corridors of power in London and Dubai. These days, as well as being executive vice president and group general counsel for Emirates NBD, Qassim is a member of several corporate boards. Qassim, the eldest of four daughters, credits her business acumen to the fact that […]
By Jamie McGeever | LONDON LONDON The turmoil in Washington surrounding Donald Trump’s presidency is rattling world markets, and the burst of volatility could force investors into a strategic or tactical rethink of how much risk they are happy to face. Increasingly damaging revelations about the Trump administration’s and election team’s dealings with Russia triggered the biggest fall on Wall Street on Wednesday since last September and […]
Google will launch its payment system Android Pay in Brazil by the end of 2017, the company announced yesterday. The company’s director of engineering for payment products Varouj Chitilian told delegates at Google’s I/O 2017 event taking place this week that “the momentum and the traction is just incredible” for the company’s contactless payment offering. “I’m personally very excited about Brazil because it will be our first […]
Fears over the scale of crisis that Donald Trump’s presidency faces hung over markets on Thursday, with European stocks weaker and those in the US expected to open lower following their worst one-day drop since September. The Stoxx Europe 600, the region’s benchmark, was down 0.8 per cent in mid-session trade while futures suggest the S&P 500 will slip by 3 points to 2.354 when Wall Street […]
A recent poll put Mr. Raisi in second place in the race for the presidency, with 27 percent of the projected vote. The same poll, by the Iranian Students Polling Agency, projected that the incumbent president, Hassan Rouhani, will get around 42 percent, depending on the turnout on Friday. Continue reading the main story On Monday, though, the second-most-popular conservative in the race, Mohammad Bagher Ghalibaf, the […]
Here is a selection of five charts that FT Markets believes are worth watching. A fresh chart will be added on a regular basis. 1. Wall Street hit by biggest slide since November US stocks suffered their worst trading day in eight months on Wednesday after political turmoil in Washington shook investors, with some fearing President Donald Trump’s ability to push through his pro-growth policies has been […]
The citizens of Sweden are perhaps closer to completely giving up a component of their individual sovereignty than any other country on earth. In a world where government’s abuse of power and intrusion into the personal lives of its blissfully ignorant enablers grows more disturbing by the day, at least for now, cash offers the one opportunity to transact in a truly anonymous way. That said, Swedes […]
Japan has recorded its longest run of sustained growth in more than a decade as stimulative policy and a healthier global economy lead to a period of robust progress. Growth for the first quarter of 2017 came in at an annualised 2.2 per cent, according to the Cabinet Office, marking five quarters of continuous expansion in gross domestic product. The figure beat the consensus analyst forecast of 1.7 […]
By Arshad Mohammed and Yeganeh Torbati | WASHINGTON WASHINGTON U.S. President Donald Trump on Wednesday extended wide sanctions relief for Iran called for under a 2015 international nuclear deal even as he imposed narrow penalties on Iranian and Chinese figures for supporting Iran’s ballistic missile programme. The dual actions, announced by the Departments of State and Treasury, appeared intended to signal a tough stance on Iran even […]
By Mark Hosenball and Lawrence Hurley | WASHINGTON WASHINGTON Former FBI director and prosecutor Robert Mueller, known for his independence in high profile government investigations, is taking on a new challenge in the midst of a crisis that threatens the presidency of the United States. Mueller, 72, was named on Wednesday by the Justice Department to probe alleged Russian efforts to sway November’s presidential election in favor […]
Call it the Trump fade? The so-called Trump trade captivated Wall Street after the surprise election of Donald Trump last November. After years of stagnant economic growth in the wake of the financial crisis, the prospect of Mr Trump’s pro-business agenda, combined with Republican control of both executive and legislative branches of the US government, breathed new life into the ageing equity rally, sent the dollar to […]
This time, the day’s big Trump-Russia-Comey news waited until around 6:00 to break. Former FBI director Robert Mueller has been selected by the US Justice Department to serve as special counsel to oversee the investigation into alleged Russian interference in the 2016 US presidential election. Rod Rosenstein, the US deputy attorney general, said on Wednesday that he had determined it was in the “public interest” to appoint […]
Jeddah May 17, 2017 The Islamic Corporation for the Development of the Private Sector (“ICD”), the private sector arm of IDB Group, and JSC “KapitalBank” have entered into a Joint Strategic Collaboration to finance SMEs in Uzbekistan. The CEO of ICD, Mr. Khaled Al-Aboodi, and Mr. Sherzod Karimbaev Deputy Chairman of the Management Board of JSC “KapitalBank”, signed the financing agreement for the amount of USD8 million […]
Earlier today, RBC’s Charlie McElligott explained why today’s action is indicative of one or more energy/risk-neutral/value funds blowing up. Now he looks at the underlying cause, and attributes it to the inability of investors to discriminate between real and imaginary threats in what has now become a “deafening cacophony of noise.” THE DOLLAR MELTDOWN We are currently in the midst of a sixth-consecutive day of declines for […]
We all know — or, well, we should all know — how to block malware attacks. You don’t install unknown applications. You don’t open dodgy email attachments. And you don’t download files from strange websites. But then, there’s WannaCrypt, aka WannaCry. It starts by infecting you the old-fashioned way, but once it makes it on your network, it uses an out-of-date version of Windows’ Server Message Block […]
By Lisa Lambert | WASHINGTON WASHINGTON The U.S. Senate could soon approve a major overhaul of the federal bureaucracy and make lasting changes to regulation of the environment, education, banks and other areas. On Wednesday a Senate committee sent a bill on to the full chamber that, supporters say, will make regulators more accountable to lawmakers and provide greater understanding of how rules affect the economy. The […]
South Carolina state Rep. Rick Quinn used his public office as a multimillion-dollar money funnel that enriched his family’s powerful political empire while doing the bidding of shadowy corporate interests in the Legislature, prosecutors said Tuesday. Misconduct charges handed down as part of the ongoing Statehouse corruption probe paint a picture of influence and greed involving a key cog in one of the state’s oldest and more […]
TEHRAN: Iran’s top two presidential candidates launched a final day of election campaigning Wednesday as the supreme leader called for a massive turnout to bolster the regime against its “enemies.”Ayatollah Ali Khamenei suggested Iran’s foes would be deterred from pursuing regime change if they saw voters flock to the ballot boxes in Friday’s poll.“American, European officials and those of the Zionist regime are watching our elections to […]
