RIYADH Saudi Arabia’s King Salman starts a month-long Asian tour on Sunday to build ties with the world’s fastest growing importers of Saudi oil and promote investment opportunities, including the sale of a stake in its giant state firm Saudi Aramco. The octogenarian monarch, who has overseen the launch of an ambitious economic reform plan since his accession two years ago, is expected to visit Malaysia, Indonesia, […]
By Balazs Koranyi | FRANKFURT FRANKFURT Devastated by the collapse of its iconic wine industry over a century ago, France may have inadvertently discovered the ideal way for central banks to aid an economy in crisis – open up the purse strings. The Great French Wine Blight, caused by an infestation of phylloxera aphids, laid waste to much of the French countryside in the second half of […]
Stock photo SoftBank, Sprint, and TBCASoft have revealed plans to create new solutions which introduce blockchain technology into the telecommunications industry. On Friday, the companies announced their intentions to “aim” for a technology partnership which will jointly develop blockchain technology for telecommunication carriers. In a press release, the firms explained that the heart of the research and development of a new blockchain solution relies on TBCASoft, which […]
The partnership seeks to take advantage of the numerous networks and content providers already connected to MainOne to grow traffic in the Nigerian Internet Exchange LAGOS, Nigeria, February 24, 2017 MainData Nigeria (MDXi) and the Internet Exchange Point of Nigeria (IXPN) have announced a partnership aimed at expanding the peering of Internet Transit traffic within Nigeria. The partnership seeks to take advantage of the numerous networks and […]
Submitted by Daniel Mitchell via The Foundation for Economic Education, Early last month, in a column on my hopes and fears for 2017, I fretted about fiscal chaos in Italy leading to default and bailouts. Simply stated, I fear that Italy, along with certain other “Club Med” nations, has passed the point of no return in terms of big government, demographic decline, and societal dependency. And this […]
The Reserve Bank of Australia (RBA) has confirmed that its new payments platform rollout is on schedule to begin before the end of the year. Addressing the House of Representatives Standing Committee on Economics on Friday, RBA Governor Philip Lowe said his organisation’s work on building the infrastructure behind the new payments platform is on schedule and currently undergoing industry testing. “Developments look on track to allow […]
February 24th, 2017, Dubai, UAE International leadership coaches Dr. Marshall Goldsmith, Kate Sweetman and happiness expert Alexander Kjerulf will be among key speakers at the 12th Human Capital Forum MENA. The forum will gather HR professionals from the MENA region to discuss their latest challenges including change management, employee engagement, training & development and maintaining a high-performing workforce in a tough economic climate. The forum is taking […]
The latest GDP numbers from the World Bank were released earlier this month, and today’s visualization from HowMuch.net breaks them down to show the relative share of the global economy for each country. As Visual Capitalist’s Jeff Desjardins explains, the full circle, known as a Voronoi Diagram, represents the entirety of the $74 trillion global economy in nominal terms. Meanwhile, each country’s segment is sized accordingly to […]
TOKYO Toshiba Corp (6502.T) said on Friday it was not aware that its U.S. nuclear unit Westinghouse was considering filing for Chapter 11 bankruptcy protection. The Nikkei business daily reported earlier that a Chapter 11 filing was one of the options that Toshiba was considering. (Reporting by Makiko Yamazaki; Editing by Clara Ferreira Marques) ‘); $(‘.second-article-divide’).append($(‘.slider.slider-module’)); $(‘.third-article-divide’).append(”); var median = (relatedItemsTotal / 2); var $relatedContentGroupOne = $(‘.related-content.group-one […]
US and European authorities eased enforcement of new derivatives rules on Thursday less than a week before the standards come into effect, allowing small financial institutions more time to prepare for the wide-ranging reforms. In a series of statements hours apart, supervisory watchdogs bowed to growing concerns of a potential dislocation in the swaps market and hundreds of unprepared pension funds, asset managers and credit institutions likely […]
Selling pressure on French bonds ebbed on Thursday, pushing the yield on the 10-year bond back below 1 per cent, as the prospect of a centrist alliance in the country’s presidential election eased anxiety that far-right candidate Marine Le Pen will win. The decision on Wednesday by independent candidate François Bayrou not to stand in the country’s elections, and instead throw his support behind fellow centrist Emmanuel […]
By Brian Love and Michel Rose | PARIS PARIS France’s presidential race took a new turn on Thursday as opinion polls began to show centrist Emmanuel Macron benefiting from an alliance with a veteran politician that could help him beat the far-right’s Marine Le Pen and win power at the age of 39. Macron, a fresh-faced ex-investment banker who has never held elected office, met his new […]
By Lucia Mutikani | WASHINGTON WASHINGTON The number of Americans filing for unemployment benefits rose slightly last week but the four-week average of such claims, considered a better gauge, fell to a 43-1/2-year low in a sign of a strengthening labor market. Other data on Thursday showed house prices increasing solidly in December amid strong demand for housing even as mortgage rates rose. The reports highlighted strength […]
“What’s up with the dollar?” has been the recurring question for investors lately as the reserve currency has slipped from a 14-year high set at the start of January. The answer may lie in the link between the dollar and real yields, a proxy for how investors in the bond market view prospects for stronger economic growth and the normalisation of interest rates. Whereas nominal yields give […]
A HoloLens display visualization Microsoft “You take the high road and I’ll take the low road and I’ll be in Scotland before you,” assert modernized lyrics of The Bonny Banks of Loch Lomond. The 176 year-old song is a metaphor for the state of virtual reality. Scotland represents a promised land of market leadership, Oculus and HTC, with their pricey high-end products, are taking the high road, […]
DUBAI // A Pakistani man is accused of transferring millions of dirhams from a man’s account after posing as him to access his mobile banking. Dubai Criminal Court heard that the 22-year-old accused pretended to be the Afghan man when he went to du to request a replacement SIM card with his old phone number after claiming that he had lost his. After getting a SIM with […]
Frank Sorrentino used to do a lot of mortgages. But since the passage of the Dodd-Frank Act seven years ago, he has mostly shied away. Rules have been tightened so far as to make home loans uneconomic, says the chairman and chief executive of ConnectOne, a bank with $3.7bn in assets based in Englewood Cliffs, New Jersey. “Community banks used to be able to cut through the […]
For footloose international money, the safest place to hide in the European financial system may be two-year German debt. The government of Europe’s largest economy not meeting such obligations in euros is as close to inconceivable as things get. The debt is also easy and cheap to trade, which means it can be a market signal of investor angst. The price of such safety set a record […]
Many fear electronic voting machines can be hacked and tampered with. Image: iStock The hacking campaign around the US presidential election, cyberattacks against Ukrain’s power grid, and even the internet crippling Mirai botnet DDoS attack all demonstrate how cyberattacks have grown to threaten the very fabric of society itself, NATO has warned. Citing the impact of high profile incidents like these, Jamie Shea, deputy assistant secretary general […]
PARIS PSA Group’s (PEUP.PA) proposed acquisition of Opel would swiftly create savings and value from the General Motors (GM.N) European division’s turnaround and complementary brands, the French carmaker’s Chief Executive Carlos Tavares said on Thursday. Adding GM’s German Opel British Vauxhall brand would bring new customers reluctant to buy French cars, Tavares told analysts and reporters, while generating savings from shared technical underpinnings. “There is significant complementarity […]
Axa chief executive Thomas Buberl has distanced himself from a bid for Generali’s German life insurance business. There has been speculation that the French group could play a part in any break-up process that would follow the possible acquisition of Generali by Italian bank Intesa Sanpaolo. However, speaking to the Financial Times on Thursday, Mr Buberl said that “buying a traditional life insurance business in Germany would […]
By Mubashir Bukhari | LAHORE, Pakistan LAHORE, Pakistan A blast at a market in Pakistan’s eastern city of Lahore killed at least five people on Thursday and wounded 21, a rescue official told Reuters. The cause of the explosion was not immediately clear. Security forces cordoned off the area and people were not being allowed to leave or enter. “Forensic teams have arrived on the scene and […]
The documents’ detailed account of Mr. Awlaki, who stars in Mr. Abdulmutallab’s story as both a religious hero and a practical adviser on carrying out mayhem, is particularly important. The government allegation that Mr. Awlaki was behind the underwear bomb plot — never tested in a court of law — became the central justification that President Barack Obama cited for ordering the cleric’s killing in a drone […]
Thursday 05:25 GMT Overview Asian stocks fell, following their US counterparts lower as investors digested the minutes of the Federal Reserve’s January policy meeting. Hot topic The Fed’s minutes showed that “many” policymakers thought it would be appropriate to raise short-term US interest rates again “fairly soon”, even given potential uncertainty around the new Trump administration’s economic policies and possible tax cuts. The market view on rates […]
