The banking caucus Economic stability and improved bank safety haven’t stopped supporters of the Choice Act from moving forward with tearing down Dodd-Frank. The bill was introduced in September by Rep. Jeb Hensarling, a Texas Republican who is a deregulation crusader and friend of Vice President Mike Pence; Pence represented Indiana in the House from 2001 to 2013 and was a critic of Dodd-Frank when the law […]
Telstra has said that as a result of a fire at its Chatswood exchange, it is possible that customers’ SMS messages have been delivered to people other than the intended recipients. “As a result of the Chatswood exchange fire today, it’s possible some SMS messages have been incorrectly delivered,” a Telstra spokesperson said. “As mentioned previously, customers won’t be receiving SMS messages in the short term while […]
TOKYO Asian shares inched up to four-month highs while the dollar was finding its feet on Thursday after the U.S. Federal Reserve stuck to its mildly upbeat economic view but gave no hint of accelerating rate hikes. While strong economic data from the United States and elsewhere have underpinned risk assets, uncertainty and concerns over U.S. President Donald Trump’s policies have markets on edge. “With many of […]
A law clerk from Toronto and a paralegal in Montreal commanded a prolific corporate empire of nearly 200 companies over the past 25 years — while knowing nothing about the businesses or the multimillion-dollar deals bearing their names, they say. Karen McIntyre of Toronto and Annette Laroche of the Montreal area both say they filed company tax returns without any idea if the numbers were accurate, signed […]
Blackstone-backed Invitation Homes began trading on Wednesday above its $20 a share initial public offering, as investors latched on to positive signals in the property rental market. The Dallas-based real estate investment trust, which allows investors to buy and sell shares in a company that owns single-family rental properties, raised $1.54bn from its IPO on Tuesday, the largest public offering since mid-2015, according to Bloomberg data. However, […]
By Lindsay Dunsmuir and Jason Lange | WASHINGTON WASHINGTON The Federal Reserve kept interest rates unchanged on Wednesday in its first meeting since President Donald Trump took office, but painted a relatively upbeat picture of the U.S. economy that suggested it was on track to tighten monetary policy this year. The central bank said job gains remained solid, inflation had increased and economic confidence was rising, although […]
The Federal Reserve signalled it remains on course for further increases in short-term interest rates this year as inflation heads back towards target, even as it avoided giving strong indications on the timing of the next move. The US central bank’s Federal Open Market Committee left the federal funds target range at 0.5 per cent to 0.75 per cent in a unanimous decision, following a quarter-point increase […]
Investors demanded a higher premium to hold France’s debt instead of Germany on Wednesday, reflecting a combination of political uncertainty and concerns over the outlook for inflation and central bank debt purchases. A series of upcoming elections in Europe, combined with worries that inflation pressures are picking up, have pushed down eurozone bond prices since the start of the year, with France becoming a notable laggard. The […]
Dubai Islamic Bank, the largest sharia-compliant bank in the United Arab Emirates, has appointed banks ahead of a potential benchmark-sized US dollar sukuk sale, banking sources familiar with the situation said on Wednesday. The group of banks arranging the deal includes Bank ABC, Boubyan Bank, Emirates NBD, HSBC, Maybank, National Bank of Abu Dhabi, Sharjah Islamic Bank and Standard Chartered, the sources said, speaking on condition of […]
India’s government on Wednesday announced its budget which laid out its strategy to boost economic growth following its move in November to void 86% of high-value bank notes. The Wall Street Journal’s South Asia Deputy Bureau Chief Eric Bellman and reporter Newley Purnell will be live on Facebook on Thursday at 10 a.m. India time (11:30 p.m ET) in New Delhi to discuss the budget. Send us […]
Submitted by Charles Hugh-Smith via OfTwoMinds blog, We cannot advance until we dump the Technocrat Class and decentralize the power that the Liberal Establishment happily concentrated into the hands of corporate cartels and the central state. Those who don’t yet understand our centrally-planned cartel-state system will benefit from reading How Democrats Killed Their Populist Soul (The Atlantic). I’ve presented related analyses in three recent essays: The Protected, […]
China’s stock market regulator has accelerated approvals for initial public offerings in recent months but market watchers say that long-awaited deregulation of the process is still years away. IPO fundraising in Shanghai and Shenzhen has totalled Rmb87bn ($13bn) since November, the biggest three-month total since the second quarter of 2015, when China’s stock market bubble reached its height. The surge of new offerings reflects the relative stability of China’s […]
Millions of Indians are preparing to vote in the biggest test of public opinion since prime minister Narendra Modi announced the demonetisation of 500 and 1,000-rupee notes three months ago – a move which has plunged the country into an unprecedented cash crisis and sent the economy into a tailspin. Over the next four weeks, starting today, a series of regional elections will be held across India […]
Israel has approved the construction of 3,000 more settlement homes in one of the government’s biggest announcements on its building programme in recent years. The statement on Tuesday evening is a further sign that the rightwing government feels it has a free hand to build housing for Jewish settlers in the occupied Palestinian territories following the election of US President Donald Trump. It came as Israel began […]
Photo A construction site in the Israeli settlement of Ma’ale Adumim in the West Bank, near Jerusalem. Credit Dan Balilty for The New York Times JERUSALEM — Israel approved 3,000 more housing units in the occupied West Bank late Tuesday, the largest number in a wave of new construction plans that defy the international community and that open a forceful phase in the country’s expansion into land […]
By Eli Berlzon | AMONA, West Bank AMONA, West Bank Israeli police moved into an outpost in the occupied West Bank on Wednesday to remove settlers who Israel’s Supreme Court ruled have been living illegally on privately owned Palestinian land. Settlers and dozens of pro-settlement activists who flocked to the Amona outpost to protest against the evacuation burned tyres and piled makeshift barricades at its entrance. But […]
Apple Chief Executive Tim Cook says India’s move to replace its largest-denomination bank notes with newly designed ones has presented a challenge in India, but the tech giant is still bullish on sales growth in the South Asian nation. Speaking on a call with analysts Tuesday after Apple announced last quarter results, Mr. Cook said “despite the demonetization move in India that created lots of economic pressure there last […]
The Federal Reserve is likely to hold rates unchanged on Wednesday but keep the markets primed for further monetary tightening as it surveys steady growth and a tightening labour market. Recent statements from Fed chair Janet Yellen have suggested that she does not want to rush into a third rate increase, but that she also has no intention of letting the US economy overheat. This points to a […]
Wednesday 06:00 GMT Overview Stock markets across Asia were mixed after disappointing earnings and weak US data pushed Wall Street lower overnight. European bourses are expected to open higher, with spreadbetters predicting the UK’s FTSE 100 will add 34 points to 7,133 and Germany’s Dax to gain 70 points to 11,605. The rebound comes after Wall Street climbed sharply off its session lows on Tuesday, and index […]
Dubai Municipality plans to impose tougher controls on people conducting illegal trade through social media channels. The controls include stiff fines and blocking of ‘business’ websites, it said on Monday. Redha Hassan Salman, director of the health and safety department at Dubai Municipality, said in a statement to media: “We are looking for different means to implement penalties on those people who practice illegal online trade. “We […]
By Sinead Carew and Jamie McGeever | NEW YORK/LONDON NEW YORK/LONDON U.S. President Donald Trump and a top economics adviser on Tuesday unleashed a barrage of criticism against Germany, Japan and China, saying the three key U.S. trading partners were engaged in devaluing their currencies to the harm of American companies and consumers. The comments from Trump at the end of a White House meeting with pharmaceutical […]
The three largest Omani banks – BankMuscat, Bank Dhofar and National Bank of Oman – face pressure on profitability from slowing economic growth and increased demand for Islamic finance, Moody’s warned on Tuesday. Growing appetite for Islamic finance is intensifying competition for products and placing the banks under pressure, a report from the rating agency argued. However, it added that BankMuscat, Oman’s largest bank by assets, was […]
|By Arabian Post Staff| Dubai Holding yesterday confirmed that it will repay the entire outstanding principal, along with accrued interest, of its final and remaining GBP500 million bond, maturing today. According to an announcement filed with Nasdaq Dubai, this will be the last tranche of Dubai Holding Commercial Operations Group’s multi-currency, Medium-Term Notes Programme issued in 2007. The full repayment will be made from Dubai Holding’s internal […]
Written by Anees Jillani | Published:February 1, 2017 12:31 am Pakistani Prime Minister Nawaz Sharif (File Photo) Since January 4, a five-member Bench headed by the second seniormost judge of the Supreme Court of Pakistan has been hearing for three hours every day petitions alleging corruption by Prime Minister Nawaz Sharif, filed by the chairman of the Pakistan Tehreek-e-Insaaf (PTI) Imran Khan, and the head of the […]
