Photo Nigerians displaced by Boko Haram insurgents last February at Dikwa camp in northeastern Nigeria. The United Nations raised the alarm on Wednesday about the risk of famine in northern Nigeria. Credit Agence France-Presse — Getty Images UNITED NATIONS — In a world filled with excess food, 20 million people are on the brink of famine, including 1.4 million children at imminent risk of death. In the […]
Goldman Sachs, the last bank on Wall Street to handle significant physical volumes of oil and gas, has pushed back against a planned crackdown on combining finance with commodities trading. The institution warned the Federal Reserve to carefully weigh the effects on markets and companies as it sought to levy steep capital charges against a bank’s holdings of bulk materials. In its letter to the Fed dated […]
Analysts and traders alike were looking forward to today’s “black box” earnings from Tesla as it would be the first consolidated report that combined Tesla Motors operations with those from cash-bleeding monstrocity SolarCity following the pair’s merger, to wit: “with the acquisition of SolarCity, we have created the world’s only integrated sustainable energy company, from generation to storage to transportation.“ And, as usual, Elon Musk managed to […]
The shelves of Guillermo Lasso’s office are lined with books that inform his politics: Adam Smith’s The Wealth of Nations; The Denationalization of Money by Friedrich Hayek; a compendium of cases about free speech from the Inter-American Court of Human Rights. “A government cannot regulate freedom of expression,” the Ecuadorean conservative opposition leader told the Financial Times before Sunday’s presidential election, in which he won more than […]
When Ford borrowed a €750m bond in euros at the start of the year, the US carmaker was following a path that has become familiar to corporate America. The deal was an example of so-called “reverse Yankee” issuance, where US companies sell bonds in euros, tapping demand from eurozone investors. Ford added to the more than €100bn of debt sold in the eurozone over the past two […]
By Alan Baldwin | SILVERSTONE, England SILVERSTONE, England Vijay Mallya, the one-time billionaire who co-owns the Force India Formula One team, said on Wednesday Indian authorities had no grounds to extradite him from Britain and he would not be leaving. India wants Mallya to face trial after the liquor and aviation tycoon was charged with conspiracy and fraud over a loan to his defunct Kingfisher Airlines. It […]
Fitch Ratings-Moscow-22 February 2017 Fitch Ratings has affirmed the Long-Term Issuer Default Ratings (IDRs) of five UAE banks with Stable Outlook and maintained Rating Watch Positive (RWP) on First Gulf Bank’s (FGB) IDRs. The agency also downgraded the Viability Rating of Union National Bank (UNB) to ‘bbb-‘ from ‘bbb’. A full list of rating actions is at the end of this commentary. KEY RATING DRIVERS IDRs, SUPPORT […]
Submitted by Chris Hamilton via Econimica blog, I’m dazed & confused…economists and the consensus all acknowledge 2001 and 2007 were low interest rate, debt driven financial and economic bubbles. However, somehow today’s even lower interest rate environment resulting in an additional $9.5 trillion in equity valuation from the last bubble peak…this one is legit and isn’t a bubble??? What I’m even more confused about is who, exactly, is buying all the […]
By Emmanuel Jarry and Gérard Bon | PARIS PARIS Francois Bayrou, a centrist candidate in three past French presidential elections, was set to announce on Wednesday if he will run in this year’s race for the Elysee, a move that could erode support for independent Emmanuel Macron. Opinion pollsters give Bayrou single figure percentages in the April 23 first round of voting, and therefore only a tiny […]
The global Panama Papers investigation is based on the unprecedented leak of confidential information from Panamanian law firm Mossack Fonseca. (Arnulfo Franco / THE ASSOCIATED PRESS FILE PHOTO) In Brisbane and Ankara, Harare and Quito, Berlin and New York, the Panama Papers investigation into tax haven abuses has been recognized with some of the most prestigious journalistic accolades on the planet. The International Consortium of Investigative Journalists, which […]
Political uncertainty is slowing trade growth, a World Bank report has concluded, indicating that the rise of Donald Trump may already be casting a shadow over the global economy. Major international institutions such as the IMF, the OECD and World Bank have recently upgraded their forecasts of global economic growth largely due to expectations that tax cuts, rising infrastructure spending and a wave of deregulation will boost the […]
Wednesday 12:45 GMT Overview US equity futures suggest Wall Street will dip from record levels that were reached amid a positive outlook for economic growth. Political concerns leave the euro carrying the wooden spoon in the forex markets, while the rush for supposed havens pushes short term German bond yields to their lowest ever. Hot topic The FTSE All-World equity index is at another record, up 0.1 […]
Paul Polman thought it was just going to be an informal catch-up. But it quickly became clear that Alexandre Behring, chairman of Kraft Heinz, had something very specific on his mind when he visited Unilever’s art deco headquarters in London last month. Had Mr Polman, chief executive of Unilever since 2009, ever considered a collaboration with Kraft Heinz, Mr Behring wanted to know. Mr Polman took this […]
Photo Prime Minister Benjamin Netanyahu of Israel, left, with his host, Prime Minister Malcolm Turnbull, in Sydney, Australia, on Wednesday. The visit was a first by a sitting Israeli leader. Credit Jason Reed/Reuters SYDNEY, Australia — Prime Minister Benjamin Netanyahu of Israel was warmly welcomed here Wednesday by his Australian counterpart, Malcolm Turnbull, with the Israeli leader promoting the two countries’ growing ties as Israel faces rising […]
Oil company Saudi Aramco [IPO-ARMO.SE] has selected JPMorgan Chase & Co, Morgan Stanley, and HSBC Holdings Plc as lead underwriters for its planned initial public share offering, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. The listing of Aramco is expected to be the world’s biggest initial public offering and could raise up to $100 billion. The IPO is the centerpiece of […]
But they are not buying much. Unemployment is high, especially among the many young people graduating from college. In all, 50,000 people remain displaced. Electricity and water supplies are still near crisis levels. Hamas, which governs Gaza, elected a new hard-line leader. Tunnel building goes on (and, presumably, so does the construction and smuggling of weapons). On the Israeli side, the political right talks of a new […]
22 Feb 2017, Doha, Qatar The Commercial Bank (P.S.Q.C.) (“the Bank”), its subsidiaries and associates (“Group”) announced today its financial results for the full year ended 31 December 2016. The Group reported a net profit of QAR 501.4 million as compared to QAR 1,434 million for the same period in 2015, a decrease of 65%. The Bank reported a net profit of QAR 683 million (2015- QAR […]
|By Arabian Post Staff| Saudi Arabian Oil Co may offer discounted shares of its record breaking IPO to Saudi nationals, Bloomberg reported quoting sources. It said the company has discussed methods to structure the sale so that retail investors in Saudi Arabia can buy shares for less than those buying on international exchanges. Aramco, as the company is known, is considering listing venues in the U.S., U.K. […]
By Shinichi Saoshiro | TOKYO TOKYO Asian stocks edged up on Wednesday, joining a record-setting night for world markets as investors cheered upbeat factory activity in Europe and solid earnings on Wall Street. The dollar was steady after hawkish comments from top Federal Reserve officials bolstered expectations the world’s no. 1 economy was strong enough to keep policymakers on course to further raise rates this year. MSCI’s […]
Your daily guide to community and cultural activities across the Emirates for February 22, 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 Film screening Cinema […]
Evan Spiegel and other top executives at Snap, the owner of messaging app Snapchat, on Tuesday pitched the company to hundreds of investors in New York and faced questions about user growth, costs and the development of the platform. The ballroom at the Mandarin Oriental in midtown Manhattan was the second stop on a roadshow for the company’s listing, after it kicked off its marketing blitz in […]
“If someone is arrested for throwing a rock, they get a two-year sentence,” the father, Yusri al-Sharif, said, according to the news site Ynet. “In this case, a soldier murdered and got a year and a half.” Continue reading the main story “My son is not an animal,” he said. But Israeli leaders, still shocked that an Israeli soldier was convicted in January in a killing in […]
Rising angst over the outcome of France’s presidential election sent the premium investors are demanding to own French debt instead of German bonds to a new post-eurozone crisis high. The gap between the yield on 10-year French debt and German equivalent bonds exceeded 0.81 percentage points for the first time since August 2012, as a fresh poll showing far right candidate Marine Le Pen is on course […]
Creditors of Saudi Arabia’s Al Ittefaq Steel Products, the country’s largest private sector steel manufacturer, have provisionally agreed to a 6.2 billion riyals ($1.7 billion) debt restructuring, banking sources told Reuters on Tuesday. The terms of the deal have still not been finalised but banks have reached an agreement in principle to give the company a two year window in which it would only pay interest on […]
