Pro-government lawmakers accused Mr. Sadat of leaking drafts of the law to foreign embassies, and of faking the signatures of 16 fellow lawmakers on another proposed law that he had drafted. Mr. Sadat denied the accusations, saying he had circulated his criticism only in a news release via email and his website. Continue reading the main story Mr. Sadat’s expulsion highlighted the lopsided balance of parliamentary power […]
Chinese companies have borrowed more money from the international bond market than from domestic investors so far this year, breaking with tradition as authorities in Beijing focus on curbing capital outflows. Banks and other corporate borrowers have been quietly encouraged to raise money offshore in other currencies, limiting the need for Chinese companies to sell renminbi to finance overseas investments. Borrowing more outside the mainland also allows […]
The National Australia Bank (NAB) has announced the appointment of three executives on Tuesday, which includes former New South Wales Premier Mike Baird. Baird will join the bank in the capacity of chief customer officer, Corporate & Institutional Banking, after announcing his retirement from politics in January. Joining Baird at NAB is Patrick Wright, who leaves his tenure as global chief Operations & Technology at Barclays in […]
When Turkey’s children returned to school in September, there was something new on the curriculum: a week-by-week syllabus, mandated by the minister of education, celebrating what many call Turkey’s “second revolution”. Course materials included two slickly produced patriotic videos laced with references to President Recep Tayyip Erdogan’s success in putting down the attempted coup on July 15. The first opens with an image of Mustafa Kemal Ataturk, […]
French government debt has capped its best run since the aftermath of Britain’s vote for Brexit, underlining the rapid shift in investor sentiment towards the country’s presidential election which now looms over financial markets. The yield on the 10-year French bond dropped to its lowest in a month, as money managers and traders continued to take succour after centrist candidate Emmanuel Macron received the backing of potential […]
It was less than a year ago that the International Consortium of Investigative Journalists and more than 100 other media partners began publishing the largest investigation in journalism history: The Panama Papers. Even here at ICIJ – where we’ve grown accustomed to our work sparking major impacts – we were surprised by the reaction. Citizens hit the streets in protest. Governments and corporations around the world opened […]
Monday 08:50 GMT Overview European stock markets are making gains, tracking another set of record highs for Wall Street’s main equities gauges. The rally reaches the region even after Asia missed out, with banking and commodity stocks leading a sell-off there. Hot topic US equity futures are pointing to further gains after a late rally on Friday pushed the S&P 500 up 0.2 per cent while the […]
In the previous episode of the currency wars, a few years ago, the Euro-Dollar exchange rate was in the spotlight. This has now completely disappeared to the background and whilst the countries of the Eurozone must be pretty happy with the weak currency (which boosts the export and increases the demand for domestically produced goods), the United States are less than happy as it weakens the position […]
By Eric Auchard | BARCELONA BARCELONA Nokia (NOKIA.HE) sees demand for higher speed 4G network equipment starting to recover this year, led by Japan, the company’s chief executive Rajeev Suri said on Sunday as he announced a series of contracts with telecom operators. Speaking at a news conference ahead of the Mobile World Congress in Barcelona, Suri also predicted a new wave of industry consolidation among telecom […]
By Stephen Kalin | MOSUL, Iraq MOSUL, Iraq U.S.-backed Iraqi forces pushed deeper into western Mosul on Sunday, aiming to capture a bridge across the Tigris which would link the city’s government-held eastern bank with the ongoing offensive against remaining militants in the west. The bridge is the southernmost of five bridges spanning the Tigris. All were damaged in strikes by the U.S.-led air coalition, and later […]
Top executives at some of the world’s biggest banks and insurers will have to vouch for their companies’ resilience to cyber attacks, under tough rules laid down by New York’s state regulator. A new regulation, which takes effect on March 1, requires companies supervised by New York’s Department of Financial Services to establish and maintain a cyber security programme that can protect consumers’ private data and “ensure […]
QInvest, the Qatar-based Islamic investment bank, has announced its exit from the St Edmund’s Terrace LP Fund which invested £50 million in a new luxury residential project in London. The fund, which was jointly owned by QInvest and a range of GCC institutional and retail investors, was created to allow investors to invest in London’s prime residential market. QInvest said in a statement that the fund generated […]
By Joseph Sipalan and Noah Browning | KUALA LUMPUR/DUBAI KUALA LUMPUR/DUBAI Malaysia welcomed Saudi Arabia’s King Salman on Sunday for the start of a rare, month-long Asian tour, where the monarch will build ties and seek to draw more investments to the oil-rich gulf nation. The visit is the first by a Saudi king to Malaysia in more than a decade, as the Arab nation courts Asian […]
25 February 2017 Fitch Ratings-London-24 February 2017: Fitch Ratings has assigned UAE based Majid Al Futtaim Holding LLC’s (MAF) proposed benchmark size subordinated perpetual hybrid notes a rating of ‘BB+(EXP)’. The proposed securities qualify for 50% equity credit. The final rating is contingent on the receipt of final documents conforming materially to the preliminary documentation reviewed. The hybrid note proceeds will be used for general corporate purposes […]
25 February 2017 MARC has affirmed its AAA(bg) rating on Boustead Holdings Berhad’s (Boustead) RM1.0 billion Bank-Guaranteed Medium-Term Notes (BG MTN) programme with a stable outlook. The rating reflects the credit strength of the syndicated bank guarantee facility provided by OCBC Bank (Malaysia) Berhad (OCBC Malaysia), Public Bank Berhad (Public Bank), Malayan Banking Berhad (Maybank) and The Bank of East Asia (BEA) Labuan Branch, all of which carry financial institution ratings […]
Citigroup Inc (C.N) on Friday said that U.S. government and regulatory agencies are investigating the bank’s hiring practices. U.S. agencies, including the U.S. Securities and Exchange Commission, are looking into whether or not the bank hired candidates “referred by or related to foreign government officials” over other candidates, the filing said. (bit.ly/2mmiCe4) “Citigroup is cooperating with the investigations and inquiries,” the company said in the filing with […]
French authorities have made yet another monumental error in judgment after arresting Marine Le Pen’s chief of staff and bodyguard for questioning over alleged misuse of public funds to pay parliamentary assistants – the equivalent of a jaywalking ticket in terms of public opinion. By making le mountain out of le molehill, this latest debacle by French authorities is the most recent in a long list of backfired attempts to […]
North Korea is evading international sanctions with a sophisticated network of overseas companies, enabled partly by its continued access to the international banking system, says a forthcoming United Nations report seen by Reuters. North Korea is under heavy U.N. sanctions and a strict arms embargo designed to impede the development of its banned nuclear and missile programmes. The U.N. panel of experts, which produced the 100-page draft […]
The five largest banks in the UAE are forecast to see profitability remaining “solid” over the next 12-18 months, according to ratings agency Moody’s. In the fourth quarter of 2016, Emirates NBD, National Bank of Abu Dhabi, Abu Dhabi Commercial Bank, First Gulf Bank and Dubai Islamic Bank posted solid profitability, said Moody’s Investors Service in a report. “We expect the five large United Arab Emirates banks’ […]
Hyderabad: The Panama Papers are back here to haunt city industrialists. Following directions issued by the Centre, the Enforcement Directorate has begun a probe into 11 companies named in the Panama Papers, the global media investigation into alleged tax evasions which has brought 415 Indians under the scanner of investigating agencies. Sources said that the probe was initiated under the Foreign Exchange Management Act. A top ED […]
SoFi, the biggest and the brashest of a new breed of online lenders in the US, has sealed a $500m funding round, giving it firepower to push into new products and markets including Canada and Australia. The private San Francisco-based company last received a big shot of funds — its fifth — in September 2015, when SoftBank of Japan led a $1bn round, the biggest in the […]
Submitted by Jeremiah Johnson (nom de plume of retired Green Beret of the United States Army Special Forces) via SHTFPlan.com, As of this writing a tremendous number of things are happening in North Korea and Russia. Although these are not events that seem momentous, they are quite profound when taken into consideration with the grand scheme: the worldwide plot to form a state of global governance. These […]
By Lewis Krauskopf | NEW YORK NEW YORK U.S. President Donald Trump’s planned economic agenda has fanned the flames for Wall Street’s record-setting run, but some investors worry that his first major address to Congress next week risks dousing it if his plans look slow to execute or are overly vague. The benchmark S&P 500 .SPX has surged 10 percent since Trump’s Nov. 8 election, with optimism […]
Credit: shatterered.io Today, researchers at the Dutch research institute CWI and Google jointly announce that they have broken the SHA-1 internet security standard in practice. This industry standard is used for digital signatures and file integrity verification, which secure credit card transactions, electronic documents, GIT open-source software repositories and software distribution. CWI cryptanalyst Marc Stevens says: “Many applications still use SHA-1, although it was officially deprecated by […]
