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The Israeli agency that liaises with the Palestinians on civilian affairs, known as Cogat (an acronym for Coordinator of Government Activities in the Territories), said Israel supplies Gaza with 30 percent of its total electricity needs at a monthly cost of about $11 million. Continue reading the main story Israel did not immediately cut off the supply, apparently hoping that international donors would step in and pay. […]

Egypt is still suffering from coordinated Palm Sunday bombings of two Christian churches that killed more than 40 people, nearly killed the head of the Coptic Church and prompted President Abdel Fattah el-Sisi to declare a three-month state of emergency. Continue reading the main story Francis will lend his support to the roughly 250,000 Roman Catholics in Egypt and insist on the protection of minority rights, including […]

After a strong 2 Year on Tuesday, poor 5 Year on Wednesday we close the week with the Treasury’s sale of $28 billion in 7 Year paper in what can only be described as a spectacular auction. The high yield priced at 2.084%, stopping 2bps through the 2.104%, the biggest gap between the two going back to January 2016. The Bid to Cover was a whopping 2.733, […]

Dubai, 26 April, 2017: Mawarid Exchange, a leading exchange company has signed Remittance Agreement with the Land Bank of the Philippines, one of the top government financial institutions in Philippines.  The agreement has been signed by Mr. Mohamed Al Nuaimi, CEO, Mawarid Exchange and Mr. Alex V. Buenaventura, President, Land Bank of the Philippines. According to this agreement, Mawarid Exchange clients shall be able to use the […]

Betting big on Amazon and selling the shares of traditional retailers has been a blockbuster trade for some time. Now, a small but growing number of hedge funds are wagering that the next leg of the woes afflicting bricks and mortar retailers in the US will unfold dramatically for those shopping mall owners who have largely so far been considered immune. The level of bets against some […]

By James Pomfret, Lawrence White and Sumeet Chatterjee | DONGGUAN, China/LONDON/HONG KONG DONGGUAN, China/LONDON/HONG KONG In the digital age, footfall in bricks-and-mortar outlets is an incomplete measure of business activity, but HSBC’s empty branches in the Pearl River Delta (PRD) suggest it’s not all plain sailing for the bank’s expansion in mainland China. HSBC, the world’s sixth-largest bank by assets, announced in 2015 that it would hire […]

Deutsche Bank must set its sights higher, its chief executive said on Thursday, after its core investment banking businesses were outpaced by US rivals in the first quarter of the year. In the three months to March, Germany’s biggest bank managed a net profit of €575m, more than double the €236m it posted in the same period a year earlier, and ahead of analysts’ expectations of €522m. […]

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By Joseph Nasr | DORTMUND, Germany DORTMUND, Germany For all its economic success, Germany has a growing problem with inequality and poverty, and yet Chancellor Angela Merkel seems to be deflecting the blame so far as the battlelines are drawn for elections in September. GRAPHIC – German income inequality tmsnrt.rs/2p3AtK4 Renowned for its highly-skilled workforce, Germany has in fact a greater proportion of working poor – people […]

European companies have been slow to capitalise on this week’s market rally — a pause in issuing new bonds that bankers do not expect to last with borrowers set to return as the spring earnings season progresses. There was no investment grade euro bond issuance from non-financial corporates last week as debt issuers sat on the sidelines ahead of the first round of the French presidential election […]

A Malta magistrate is investigating explosive claims of money laundering and corruption that have put New Zealand in the middle of a global cash trail from the family of Azerbaijan president Ilham Aliyev. President Aliyev’s daughter, Leyla Aliyeva, is alleged to have channelled more than $1.5 million to senior figures of the Malta government, including Prime Minister Joseph Muscat’s wife. These include alleged payments to Panama companies […]

By Steve Holland | WASHINGTON WASHINGTON U.S. President Donald Trump told the leaders of Canada and Mexico on Wednesday that he will not terminate the NAFTA treaty at this stage, but will move quickly to begin renegotiating it with them, a White House said. The announcement came after White House officials disclosed that Trump and his advisers had been considering issuing an executive order to withdraw the […]

The remarks, in an interview that was recorded Tuesday, came at the end of Ms. Trump’s rocky 24-hour trip this week to Germany, her first official foray since taking a West Wing office last month. Continue reading the main story A spokeswoman for Ms. Trump did not respond to questions about her position on immigration — or about whether her remarks were intended to pressure her father. […]

PARIS Fewer French voters believe centrist Emmanuel Macron got off to a good start in the last lap of France’s presidential election than far right leader Marine Le Pen, a poll showed on Thursday. Macron, the favourite to win the presidency, has suffered several costly public relations missteps since he and Le Pen qualified in a first round of voting on Sunday for the decisive May 7 […]

Turkish policymakers surprised investors by tightening monetary conditions on Wednesday, helping to support the lira on a day of widespread weakness across emerging market currencies and prompting some to rethink their pessimism towards the country. While the Turkish central bank kept its main interest rates unchanged, it defied expectations by raising the late liquidity lending rate by 50 basis points. Describing the move as “a hawkish surprise”, […]

There was some snickering two days ago when it emerged that as his first paid speech appearance, former president Barack Obama who – at least on paper was a determined crusader against the big banks – will receive $400,000 for roughly an hour of his time from, well, a bank or rather Cantor Fitzgerald. Moments ago, Obama seemingly concerned by the public response the news has generated, […]

By Phil Stewart and David Brunnstrom | WASHINGTON WASHINGTON The Trump administration said on Wednesday it aimed to push North Korea into dismantling its nuclear and missile programs through tougher international sanctions and diplomatic pressure, and remained open to negotiations to bring this about. The U.S. stance, which appeared to signal a willingness to exhaust non-military options in spite of repeated warnings that “all options are on […]

By Luc Cohen | LA MATANZA, Argentina LA MATANZA, Argentina Billboards in Buenos Aires province’s working-class La Matanza district trumpet a soon-to-be completed bus lane alongside the face of the district’s mayor, an ally of former populist President Cristina Fernandez. Although it was originally conceived when Fernandez was president, the 2 billion-peso ($129.24 million) “Metrobus” lane is being paid for by centre-right President Mauricio Macri’s government and […]

By Valerie Volcovici | WASHINGTON WASHINGTON White House advisers and Trump administration officials will meet on Thursday to discuss whether the United States should remain in the Paris climate agreement, a White House official said on Wednesday. The meeting, which will include member of the National Economic Council and cabinet officials such as Environmental Protection Agency Administrator Scott Pruitt and Energy Secretary Rick Perry, was scheduled for […]

Citigroup Inc has received an investment banking licence from Saudi Arabia’s Capital Market Authority more than 10 years after exiting the kingdom. The CMA board authorised Citigroup Saudi Arabia “to conduct dealing as underwriter, arranging and advising in securities business activities,” according to statement posted on the regulator’s website. The firm lost its key banking licence when it sold its stake in Samba Financial Group in 2004. […]

PARIS France’s centre-right party, seeking to rebound after the defeat of its presidential candidate, said on Wednesday it could share power with Emmanuel Macron if he is elected, as pollsters predict, on May 7. Macron, a 39-year-old centrist, is tipped to comfortably win a run-off vote against far-right leader Marine Le Pen, but the political movement he created a year ago faces a huge challenge in the […]

Oil prices reversed early losses on reports of the third weekly drawdown of crude stocks in the US, although analysts cautioned on waiting for further signs that Opec’s production cuts are finally tightening the market. Inventories of US crude fell by a larger than expected 3.6m barrels in the week ended April 21, the Energy Information Administration said on Wednesday, compared with expectations for a draw of […]

French presidential frontrunner Emmanuel Macron was ambushed on the campaign trail on Wednesday by far-right rival Marine Le Pen, with the rivals for the Elysée Palace clashing over globalisation and compounding a shaky start for Mr Macron in the final two weeks of the election race. The rivals’ visits to a factory in Amiens in northern France came on what was the first day of vigorous campaigning […]

According to Mr. Soylu, the “secret imams” were part of a parallel leadership structure within the police force that was ultimately answerable to Mr. Gulen, whose extradition has long been sought by the Turkish authorities. The subject of Mr. Gulen is almost certain to be discussed at a coming meeting in Washington between President Trump and Mr. Erdogan, whose government was allied to the cleric’s movement before […]

Microsoft began rolling out the Windows 10 Mobile version of its Creators Update release at the end of the day Pacific Time on April 25. The RTM (“release to mainstream,” if you’re not a fan of “release to manufacturing”) version of the OS for Windows Phones is 15063.251. (The RTM for Windows 10 Creators Update for PCs also was 15063.) As Microsoft acknowledged recently, only about a […]

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