US stock markets climbed higher on Monday, as bipartisan agreement over a US budget deal overpowered weak manufacturing data in the US and China, with European markets closed for the May bank holiday. The benchmark S&P 500 climbed 0.3 per cent by midday in New York on news of the budget deal, shrugging off an initial tumble when data from the Institute for Supply Management showed America’s […]
Your daily guide to community and cultural activities across the Emirates for May 2, 2017, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. Ellen Fortini rounds up 10 things to do today in the UAE. Want to see your event listed here? Email us with the details and contact information at [email protected] newslide Abu Dhabi Fitness event Register […]
Hamas, the militant Islamist group, on Monday dropped a call for Israel’s destruction and endorsed the creation of a Palestinian state inside 1967 borders, in a rhetorical shift that analysts said reflected the group’s political ambitions and changing priorities in a new Middle East. A policy paper released in Doha by Khaled Meshaal, Hamas’s political leader, described the creation of an interim Palestinian state in the 1967 […]
In other words, the FEC can’t really do much to shut down these groups, even if they do have the mailing address of a state prison, as is the case with Pesce’s PAC. (Update: 10:51 a.m., April 7, 2017: The FEC on April 6 sent Pesce a letter asking him to verify the accuracy of his “Impeach the Assole” PAC filing. The letter reminds Pesce that it’s […]
US corporate boardrooms’ approval of share buyback plans has fallen to its lowest level since 2012, signalling that the stock market’s surge to further highs this year is curbing a key source of demand for equities. Companies on the S&P 500 index have authorised $146bn in share buybacks this year, down 15 per cent from a year ago, according to data from Goldman Sachs. Executives have also […]
By Olivia Oran and Svea Herbst-Bayliss | BEVERLY HILLS BEVERLY HILLS U.S. Treasury Secretary Steven Mnuchin said on Monday that economic growth of three percent is achievable in the next two years as the Trump administration sets out to dramatically cut taxes. Speaking at the Milken Institute Global Conference in Beverly Hills, California, almost a week after he helped unveil plans to cut taxes for many people […]
DOHA The Palestinian Islamist group Hamas will drop its long-standing call for Israel’s destruction as well as its association with the Muslim Brotherhood in a new policy document to be issued on Monday, Gulf Arab sources said. Hamas’s move appears aimed at improving relations with the West, Gulf Arab states and Egypt, which label the Brotherhood as a terrorist organisation. Many Western countries classify Hamas as a […]
France’s presidential candidates battled for the working-class vote in a day of sometimes violent protests ahead of next Sunday’s election. As May Day workers’ rights marches were being held across the country, the National Front’s Marine Le Pen attacked her rival Emmanuel Macron as an “enemy of the people” who represented finance and “savage globalisation”. The rancour and confusion of the campaign spilled on to the streets, […]
A club of top bankers, investors and Treasury officials will this week meet at the venerable Hay-Adams hotel in downtown Washington to discuss the US government’s borrowing plans. It could be a blockbuster meeting. The Treasury Borrowing Advisory Committee meets quarterly to discuss with senior government officials the best way for the US to finance its budget deficit. It is made up of senior executives from hedge […]
WASHINGTON U.S. consumer spending was unchanged in March for a second straight month and the overall monthly inflation rate fell for the first time in a year,confirming the weak domestic demand in the first quarter. But when adjusted for inflation consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased 0.3 percent, ending two straight months of decline,the Commerce Department said on Monday. Economists […]
Besides the upcoming FOMC meeting on May 2-3, and French & Italian politics – the decisive runoff round of the French election takes place this Sunday – this week’s releases are dominated by US payrolls expected to come around 170k. The busy release calendar continues with Norges bank and RBA meetings as well as global manufacturing PMIs. The market’s focus during the week of 5/1 will begin […]
22 February 2016 – Journalist Daphne Caruana Galizia posted the first major hint that the biggest scandal in Maltese history was about to break. “It’s traditional to eat lamb on Easter Sunday, so Konrad Mizzi and his estranged wife Sai Mizzi Liang will be getting theirs from New Zealand, courtesy of their fixer Brian Tonna, who has a desk at the Auberge de Castille”. […]
Hanging over discussion of Federal Reserve tightening has been a potentially market-shaking question: how to safely unwind the crisis-era asset purchases that bloated the central bank’s balance sheet. Policymakers led by Janet Yellen, the Fed chair, have approached the topic gingerly, acutely aware of the potential to repeat the so-called taper tantrum of 2013, where ill-timed talk of slowing bond purchases roiled global markets. Yet for all the […]
30 April 2017 COLOMBES, France–(BUSINESS WIRE/ME NewsWire)– OT (Oberthur Technologies), a leading global provider of embedded security software products, services and solutions and a forerunner in the payment sector, has been selected by Mashreq Bank to deploy Instant Card Issuance in the United Arab Emirates (UAE). Mashreq Bank is one of the UAE’s leading financial institutions. Established in 1967 by the Al-Ghurair Group, it is the largest […]
President Donald Trump was a distracting entertainment from the moment he launched his campaign in June of 2015 — until he wasn’t. His opening speech, in which he called Mexican immigrants “rapists” and told the world he would be the best jobs president “God ever created,” was looked at as the ravings of a man whose outsized ego was too big to be anything but hilarious. News […]
Google Australia has confirmed that the Australian Taxation Office (ATO) is chasing it for a debt relating to unpaid tax, noting it will “lodge an objection” against the amended income tax assessments it was issued at year-end. “Such contingencies relate to reviews for open tax years as well as certain transactions and computations for which the ultimate tax determination is uncertain during the ordinary course of business,” […]
By Shinichi Saoshiro | TOKYO TOKYO Asian stocks struggled for traction on Monday after weaker-than-expected U.S. economic growth data, while the dollar dropped against the yen amid tensions over North Korea and slipped versus the euro on evidence of strong euro zone inflation. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS inched up 0.1 percent and Japan’s Nikkei .N225 added 0.1 percent. Many markets in Asia […]
Authored by EconomicPrism’s MN Gordon, annotated by Acting-Man’s Pater Tenebrarum, Seeing the Light It has been said that “the definition of insanity is doing the same thing over and over again and expecting different results.” No one quite knows who first uttered this remark; it has been attributed to Albert Einstein, Mark Twain, Benjamin Franklin, and has even been said to be an Ancient Chinese Proverb. What […]
30 April 2017 COLOMBES, France–(BUSINESS WIRE/ME NewsWire)– UAE Exchange, the leading global remittance, foreign exchange and payment solutions brand, and OT (Oberthur Technologies) have partnered to launch “gocash” prepaid card of UAE Exchange through the first-ever contactless payment via wearable devices (powered by “Flybuy MiniFOB” technology of OT), at the Seamless Middle East Conference in Dubai on 01 May 2017. UAE Exchange will be offering the wearable […]
The Trump administration’s interest in issuing the US government’s first “ultra-long” bonds, following in the footsteps of countries such as the UK, Mexico and Belgium, is facing scepticism from fund managers, analysts and former officials. The US Treasury in April asked its “primary dealers”, the club of banks that underwrite and arrange the government’s debt sales, to explore whether there would be demand for Treasuries that mature […]
Many discussions of digital transformation focus on marketing metrics such as page views, clicks, and even mentions in the press. Although marketing is important, this limited and unsophisticated view ignores underlying issues such as improving business speed, agility, and responsiveness to customers. Only by rethinking business models can we meaningfully gain benefit from digital transformation in departments across the company including operations, supply chain, manufacturing, and customer […]
Hedge funds have slashed their bets against the British pound to the lowest level since the Brexit vote in June last year, after the currency enjoyed its best month against the dollar in two years. The pared-back “short” bets, which would profit on a drop in the pound, followed Theresa May’s decision to call snap elections in June, a move that investors said would allow the ruling […]
LONDON British Prime Minister Theresa May pledged to protect workers against irresponsible practices over pensions on Sunday, promising new regulations on how schemes are handled during corporate takeovers. May’s Conservative party will give regulators power to examine takeover proposals that threaten the solvency of a company pension scheme, and the regulator could be empowered to block takeovers if it is not satisfied with the arrangements. May set […]
Heart attack and stroke were the most common reasons for life and critical illness cover claims by men in the Middle East, while cancer was the leading cause for claims by women, according to new research. Zurich International Life’s latest claim statistics revealed that the majority of claims made by men are from those aged 40 and above, whereas for women, the majority of claims were paid […]
