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An exterior view shows the main entrance of St Bartholomew’s Hospital, in London, one of the hospitals whose computer systems were affected by a cyberattack, Friday, May 12, 2017. A large cyberattack crippled computer systems at hospitals across England on Friday, with appointments canceled, phone lines down and patients turned away. (AP Photo/Matt Dunham) Teams of technicians worked “round the clock” Saturday to restore hospital computer systems […]

     “The hope that consumer and business spending will surge is probably just that, hope.”       – Joel Naroff, President of Naroff Economic Advisors and TDn2K Economist So another chain restaurant is “preparing” to bite the dust. Ignite Restaurant Group, which operates the Joe’s Crab Shack chain with 113 locations and the Brick House Tavern chain with 25 locations, and used to operate the Romano’s Macaroni Grill […]

By David Lawder and William Schomberg | BARI, Italy BARI, Italy The United States said on Saturday the world’s other rich economies were getting used to the policy plans of President Donald Trump, but Europe and Japan showed they remained worried about Washington’s shift. Officials from the Group of Seven nations met in southern Italy hoping to hear more about Trump’s plans which they fear will revive […]

The huge cyberattack wiped out display screens at rail stations in Germany Cyber security experts rushed to restore systems on Saturday after an unprecedented global wave of cyberattacks that struck targets ranging from Russia’s banks to British hospitals and a French carmaker’s factories. The hunt was on for the culprits behind the assault, which was being described as the biggest cyber ransom attack ever. State agencies […]

By William Schomberg | BARI, Italy BARI, Italy U.S. President Donald Trump’s economic policies risk creating growth that mostly benefits the rich and aggravates income inequality in the United States, Nobel Prize-winning economist Angus Deaton said.     Trump was swept to power on promises of help for poorer Americans but Deaton said his proposals to roll back regulations on finance and industry and cut healthcare benefits would […]

By Gavin Jones | BARI, Italy BARI, Italy Group of Seven financial chiefs said they had no idea who was behind the international cyber attack that affected almost 100 countries on Friday but they pledged to redouble their efforts to make cyberspace more secure. The economy minister and central bank governor of Italy, which holds the G7 presidency, both replied negatively when asked at the end of […]

UAE residents, many of whom face a long commute each day, turn to a tried and tested wake-up option to supplement their morning coffee. It features a solid base of upbeat tunes, a dash of local news, a spoonful of friendly banter and a sprinkling of competitions – which together make up the potent concoction we call breakfast radio. For many listeners, it is what makes the […]

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JERUSALEM A Jordanian citizen stabbed and wounded an Israeli police officer who then shot him dead in Jerusalem’s Old City on Saturday, Israeli police said. Police spokeswoman Luba Simri said the officer was walking down a street when he was attacked. “The terrorist rushed toward him, whipped out a knife that he had in his possession, stormed him and began stabbing him. The police officer responded with […]

Romero Rodrigues Contributor Romero Rodrigues is a managing partner at Redpoint eVentures, the Brazilian-focused arm of the Silicon Valley venture firm Redpoint. More posts by this contributor: Fintech is booming around the world. Global investments in fintech companies have continued to rise during the last two years. After international financing for fintech startups hit $19 billion in new funding rounds at the end of 2015, the volume […]

WannaCrypt/WannaCry ransomware has affected Windows XP systems across the globe. Image: Cisco Talos Microsoft has taken the unprecedented step of issuing patches for unsupported operating systems – like Windows XP – in the wake of the massive WannaCrypt ransomware attacks against organisations across the globe. Businesses, governments and individuals in 74 countries across the globe have been victims of more than 45,000 attacks by this one strain […]

BARI, Italy Financial leaders of seven leading world economies will pledge stronger cooperation against cyber crime on Saturday and not to use foreign exchange to gain competitive advantage, but stick to their cautious wording on trade, a draft communique showed. Finance ministers and central bank governors from the United States, Canada, Japan, France, Germany, Italy and Britain are meeting in the Italian city of Bari to discuss […]

Europe’s investment community has barely had time to breathe a sigh of relief following Emmanuel Macron’s victory in the French presidential elections before starting to fret about other latent threats to the eurozone. Some investors have hailed the election — in which Mr Macron, a pro-EU liberal defeated Marine Le Pen, the Eurosceptic rightwing candidate — as a sign that Europe’s economic recovery remains on track. This […]

13 May 2017 Dubai – The Ministry of Finance (MoF) recently held the second meeting of the Government Financial Policy Coordination Council for 2017 in its headquarter in the Dubai. The meeting was headed by HE Younis Haji Al Khoori, Undersecretary of MoF and Chairman of the Government Financial Policy Coordination Council, in the presence of HE Saeed Rashid Al Yateem, Assistant undersecretary of Resources and Budget […]

SAN FRANCISCO Southern Co’s (SO.N) Georgia Power and Toshiba Corp’s (6502.T) Westinghouse have reached a tentative deal to transfer project management of the expansion of a Georgia nuclear power plant to units of Southern Co, Georgia Power said in a statement on Friday. The interim agreement until June 3 will allow construction of the Vogtle plant expansion to continue, it said. Westinghouse Electric Co filed for bankruptcy […]

If you are an investor wanting a safe, unexciting asset to make a bit of money, avoid South Africa’s rand. It is not that you cannot make money trading the currency. You very much can, and you might make it big and quickly. The problem is you can also lose much more than you gain and at a frightening pace. To play the rand, investors need not […]

Gulf neighbours are expected to demand further economic reforms in Bahrain, the region’s smallest economy, to justify continued financial support, according to a new report. Bank of America Merrill Lynch’s MENA economist Jean Michel-Saliba said that while GCC support remains firm in the near-term, over time, the GCC is likely to require from Bahrain greater reforms to restore sustainability. His report said GCC development funds have stepped […]

By Chris at www.CapitalistExploits.at What in God’s name is happening? It’s not a high. It’s a record high. Sweet mother of Mary… As we can see from the above chart courtesy of the FT, emerging markets sold a record amount of government debt in the first quarter of this year. More from the FT here: “Data from Dealogic, a research firm, show that sovereign bond sales from emerging markets rose […]

Greece inched closer to a return to public market finance for at least part of its Sisyphean debt burden this week, with benchmark bond yields dropping to levels seen when the country last issued new debt three years ago. Enthusiasm for the small portion of Greek debt held in private hands and available to trade followed a long-delayed agreement on fiscal and structural reform measures with European […]

By Matt Spetalnick | WASHINGTON WASHINGTON President Donald Trump will express support for Palestinian “self-determination” during a Middle East trip this month, a senior aide said on Friday, suggesting Trump is open to a two-state solution to the Israeli-Palestinian conflict despite not having publicly embraced the idea so far. The comment by U.S. national security adviser H.R. McMaster came just nine days after a White House visit […]

BAKU A court in Azerbaijan on Friday supported the blocking of the websites of several media outlets critical of the government, including the Azeri service of Radio Free Europe/Radio Liberty (RFE). European institutions and rights bodies accuse the oil-producing former Soviet republic Azerbaijan and its leader, Ilham Aliyev, of tightening restrictions on the media and on people’s freedom of expression. Azeri officials deny the accusations. The ruling […]

The Joint Investigation Team (JIT) formed by Pakistan’s Supreme Court to probe graft allegations against Prime Minister Nawaz Sharif and his family in the Panama Papers case began its work on Tuesday with an informal meeting in Islamabad.  The apex court last week approved the six-member team comprising one representative each from the State Bank of Pakistan, Securities and Exchange Commission, National Accountability Bureau, Federal Investigation Agency, […]

Saudi Arabia is preparing to cement ties with President Donald Trump by committing to unprecedented investments in the US. The kingdom’s sovereign wealth fund is set to announce plans to deploy as much as $40 billion into US infrastructure, according to people familiar with the matter. The investment may be unveiled as early as next week to coincide with Trump’s visit to the kingdom, said the people, […]

By Yashaswini Swamynathan The S&P 500 and the Dow edged lower on Friday as financial stocks fell, but losses on the Nasdaq were kept in check by a rise in technology shares. With the first-quarter earnings season coming to an end, investors are looking to the Federal Reserve, Trump administration and economic data for fresh trading catalysts. A risk-off sentiment has dominated trading this week after President […]

JERUSALEM Israeli soldiers shot dead a Palestinian during stone-throwing clashes in the occupied West Bank on Friday, residents and the Palestinian Health Ministry said. An Israeli military spokeswoman said about 100 Palestinians were involved in what she described as a violent riot during which they threw stones at Israeli soldiers. “In response to the threat the soldiers fired riot dispersal means,” she said. The Palestinian Health Ministry […]

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