Ever since Sheikh Mohammed bin Rashid, Vice President of the UAE and Ruler of Dubai, and Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, stated that they wanted every Emirati, no matter their background, to complete their education and contribute to the advancement of the UAE’s society, education has played a pivotal role in fulfilling that dream. The […]
European equities funds have enjoyed a $6.1bn rush of new inflows around the election of Emmanuel Macron. “Allez les flows“, says Bank of America Merrill Lynch, suggesting there’s still much further to go. “Our European Equity Strategist Ronan Carr argues Europe inflows are barely halfway to levels consistent with prior market peaks,” it says. (Read our full story on flows for more detail.) The new-found enthusiasm comes […]
By William Schomberg and David Lawder | BARI, Italy BARI, Italy Finance chiefs from some of the world’s richest nations began a two-day meeting in Italy on Friday, with Europe, Japan and Canada hoping to come away with a clearer picture of U.S. President Donald Trump’s plans on important policies. Inequality, international tax rules, cyber security and blocking the funding of terrorism are the focus of the […]
At the end of April, Dubai added yet another acquisition to its steadily growing list of attributes. No longer just a city, an emirate, a tourist destination or even home to the world’s tallest building, the city now also has its own official typeface, the Dubai font. The product of a two-year partnership between the Dubai Executive Council, the computer giant Microsoft and Monotype, the owner of […]
The yield on Chinese five-year government bonds hit its highest since 2014 on Friday, as tight liquidity and a regulatory crackdown on leveraged investment caused a rarely seen inversion of the yield curve. Bond yields, which move inversely to price, have been on the rise since last October as the People’s Bank of China moves to discourage the use of borrowed money for bond investment. The bond […]
The completion date for the world’s tallest tower has been pushed back to 2019, a Saudi Arabian billionaire said Thursday, almost six years after launching the record-breaking project. Jeddah Tower is to rise more than a kilometre (almost 3,300 feet), placing it above Dubai’s Burj Khalifa. “The project was delayed… but it’ll open (in) 2019,” Prince Alwaleed bin Talal told AFP during a visit to the site […]
Profits take a hit at Entertainment One. FT Opening Quote is your early Square Mile briefing. You can sign up for the full newsletter here. Efforts to strengthen Entertainment One’s film division will hit its full-year profits by almost £50m, the company announced today, after it renegotiated one of its main distribution agreements, writes FastFT. Entertainment One is best known for producing television programmes such as Peppa […]
Pantech, Korea’s third-largest handset maker, has suspended its smartphone business and will commence restructuring, a move that could see it end for good despite surviving a dramatic bankruptcy filing two years ago. In an email to employees, Jung Jun, the chairman of Optis, the parent company of Pantech, said the company will halt production of smartphones and commence the restructuring. The company will retain its Internet of […]
Investors poured $6bn of new capital into European stock funds in the past week, underlining the voracious appetite for assets across the continent as growth accelerates, earnings recover and several of the bloc’s largest countries move past critical elections. The amount of flow in the five days to May 10 is the first time the weekly amount has passed $6bn since at least 2000 when EPFR began […]
Kuala Lumpur, 11 May 2017 The fifth edition of Islamic Financial Services Board’s (IFSB) annual Islamic Financial Services Industry Stability Report 2017 examines the implications of the recent economic developments and changes in the global regulatory and supervisory frameworks on the global Islamic financial services industry (IFSI). Amidst a challenging external environment brought on by the changing policy directions and uncertainties in the global economic landscape, institutions […]
Michael Dell at Dell EMC World Image: Asha McLean/ZDNet Although Dell EMC operates in approximately 180 countries, not all of the products and services from the company’s bag of tricks are available everywhere. When it comes to Australia, however, Michael Dell told ZDNet that Australia is pretty high up on the priority list, giving local organisations access to almost the entire Dell EMC stack ahead of many […]
While China growth has been slowing, and monetary conditions tightening, few (if any) have predicted any prolonged deflation (let alone a recession), yet overnight – for the first time ever – the $1.7 trillion Chinese bond market inverted, flashing a warning signal to the world that something is wrong. Early on Thursday, the five-year yield rose to 3.71%, breaking above the 10-year yield for the first time […]
A $100 million fund has been launched in Bahrain to invest in the country’s small and medium-sized enterprises (SMEs). The initiative has been unveiled by the Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of IDB Group, in partnership with Ibdar Bank, and Labour Fund Tamkeen. The Bahrain SME Fund is a Shariah compliant mezzanine private equity fund which will target […]
It’s been a strange day in Washington, as top intelligence officials and even US President Donald Trump appeared to question his own statements on the firing of FBI director James Comey. Andrew McCabe, the FBI acting director, contradicted Mr Trump over the firing of Mr Comey, denying in testimony to the Senate intelligence committee that the ousted chief had lost the support of employees as he insisted […]
ISLAMABAD: The Joint Investigating Team (JIT) tasked with investigating corruption allegations against Prime Minister Nawaz Sharif and his children has sought from the Election Commission of Pakistan asset declarations submitted to the electoral body by the premier and his son-in-law Captain (retd) Safdar, Geo News quoted sources as saying on Thursday. According to the sources, the JIT, set up by the Supreme Court in the light of […]
By John McCrank | NEW YORK NEW YORK Goldman Sachs Group Inc (GS.N) will launch a new private stock-trading venue, known as a “dark pool,” on Friday, that is run by exchange operator Nasdaq Inc (NDAQ.O), according to a note to clients obtained by Reuters. Goldman has been refreshing its trading technology to become more competitive in its electronic stock execution business, and hired Nasdaq last year […]
DUBAI // Six people have been arrested over a Dh3 million robbery of a bank truck owned by a Dubai cash in-transit company. The suspects, from Asian countries, were arrested on Tuesday night in an apartment in Al Rashidiya following investigations, said Maj Gen Khalil Al Mansouri, assistant commander of CID at Dubai Police. Maj Gen Al Mansouri said one of the suspects was a security guard […]
The lead actors of Disney and Cameron Mackintosh’s hit musical, “Mary Poppins”, were pictured in their full costume at Burj Khalifa, the world’s tallest tower. Having flown onto the Dubai Opera stage for the first time last week, the international hit musical “Mary Poppins” is currently running on the Dubai Opera stage until May 25. Leading the cast in the role of “Mary Poppins” is Zizi Strallen, […]
A Human Rights Watch staffer said Wednesday he was barred from entering Bahrain for the annual FIFA congress in the Gulf state, which restricts access to foreign activists and journalists. HRW director for Israel and Palestine, Omar Shakir, said he spent 18 hours in the airport before being obliged to change his return ticket and board an outbound flight. The US citizen told AFP by telephone that […]
Only one member of 7-strong Monetary Policy Committee votes for rate rise Source link
BT’s own goals cost the boss dearly. FT Opening Quote, with commentary by Matthew Vincent, is your early Square Mile briefing. You can sign up for the full newsletter here. Two months ago, all Paris St Germain had to do to reach the quarter finals of the European Champions League was not concede three goals in the final 2 minutes of their match against Barcelona. Barcelona’s ensuing […]
By Ben Blanchard | BEIJING BEIJING When leaders of 28 nations gather in Beijing next week for a summit to map out China’s ambitious new Silk Road project, one question is likely to be on attendees’ minds – what exactly is the Belt and Road Initiative? Proposed in 2013 by President Xi Jinping to promote a vision of expanding links between Asia, Africa and Europe underpinned by […]
By Nandita Bose | WHEATON, Ill. WHEATON, Ill. German grocery chain Aldi Inc is trying to beat the world’s biggest retailer at its own game: low prices. Already with 1,600 U.S. stores, Aldi has set a minimum target of selling groceries at a 21 percent discount to its U.S. rivals, including Wal-Mart Stores Inc (WMT.N), Chief Executive Jason Hart told Reuters. His strategy, previously unreported, centers on […]
The number of automatic teller machines (ATMs) in the UAE has increased by 67 in the past year, according to the country’s central bank. In a statement run by state news agency WAM, it said the UAE now has a total of 5,211, with the increase in ATMs “another indicator of the growth of business sentiment in the country”. The central bank statistics also said that up […]
