Expats living in India are the third-highest paid in the world, according to a survey from HSBC. The average salary of foreigners living in India was $145,057, the poll of almost 27,000 expats in 100 countries showed. Highest paid were foreign workers in Switzerland who got an average salary of $188,275, followed by Hong Kong at $169,756. Like Switzerland and Hong Kong, India has a financial hub […]
Budget Secretary Benjamin Diokno on Tuesday said it was unfair to use taxpayer’s money to subsidize the P2,000 pension increase for Social Security members (SSS). “You contribute to that fund, okay and when you retire, you get benefits from that fund, okay. So given that perspective, I don’t think it is fair to say use the taxpayers’ money to subsidize the benefits of the pension members, the […]
LONDON Upbeat data from China helped lift global markets as 2017 trading started in earnest on Tuesday, with the dollar notching its biggest gain in three weeks, oil on a tear and European stocks setting a one-year high. Base metal prices and bond yields also advanced, as the better-than-expected factory growth in China dovetailed with higher inflation data in Europe to give investors a solid start to […]
Producers refute Mariah Carey’s ‘sabotage’ claim Dick Clark Productions has hit back at Mariah Carey’s claim the company sabotaged her live performance on its ‘New Year’s Rockin’ Eve’ special in Times Square. The star vocally stumbled through her set, failing to sing most of it, despite a pre-recorded track of her songs playing in the background. Carey’s representative Nicole Perna blamed technical difficulties and a faulty earpiece […]
He was released on his recognizance, but arrested 10 days later. He was accused of acting as an undercover liaison between Fatah, the dominant faction within the Palestine Liberation Organization, and guerrilla cells in the West Bank. Continue reading the main story The authorities also said he had smuggled gold, whiskey and television sets across the border. In addition, investigators said the archbishop had been involved in […]
While 2016 was the year the unlikely became real, currency investors enter 2017 no better equipped to tell the difference between reality and illusion. Brexit and Trump made a mockery of assumptions, shredded investors’ best-laid plans and turned political risk analysts into the most in-demand advisers of the year. The two big themes of 2016 will feel palpable during the first quarter of 2017. Donald Trump takes […]
Qatar’s budget deficit is set to decline by 38.9 percent from $13bn (QR46.5bn) in 2016 to $7.8bn (QR28.4bn) in 2017 due to a rise in government revenues, according to an economic analysis by Qatar National Bank. However, capital spending is expected to increase in 2017 and remain as the main driver of economic growth in the coming years, revealed The Peninsula Qatar. The decision is aimed at […]
Seven months after the leak of 11.5 million documents from a law firm in an incident that has come to be known as the “Panama Papers”, the world is right to ask what has been done since to fight global tax evasion and promote financial transparency. As president of Panama, and in particular through my interactions with the international community, it is clear that the affair shined […]
JAKARTA Indonesia has penalized JPMorgan Chase & Co after the investment bank’s research arm recommended a smaller exposure to the country’s sovereign bonds, a senior finance ministry official said on Tuesday. “After we did a comprehensive review, we said no need to use JPMorgan’s services as a primary (bond) dealer and a perception bank,” Suahasil Nazara, the head of the ministry’s fiscal policy office, told Reuters. A […]
Saudi Arabia’s Yamama Cement Company has secured 1 billion riyals ($266.6 million) in Islamic financing to partially fund the building of a new factory, it said on Monday. The three-year financing includes 750 million riyals from National Commercial Bank and 250 million riyals from Samba Financial Group, it said in the statement. The company signed a 4.2 billion riyal contract with Germany’s ThyssenKrupp Industrial Solutions in November […]
A stable UAE economy is likely to create “more” employment opportunities in 2017, according to employment website, Monster.com. The company’s statement follows a report issued by London-based Hays Recruiting which says over half of GCC workers were “considering leaving their current employer this year” and 14 percent of UAE employers were “short of the talent required to achieve 2017’s objectives”. Monster.com also referred to another study by […]
An analyst says it is unwise of politicians to get into heated quarrels with the royal families because it may cost them votes. PETALING JAYA: The spat between Tunku Mahkota Johor Tunku Ismail Sultan Ibrahim and Umno information chief Annuar Musa, should it escalate, could have an impact on voting patterns, says a political analyst. Faisal S Hazis of Universiti Kebangsaan Malaysia was commenting on Tunku Ismail’s […]
Venezuela has issued $5bn in new bonds to state-run Banco de Venezuela in a private placement, as it seeks cash for imports of food and medicine as the country struggles with critical shortages of basic goods. France-based Global Emerging Markets Group said it advised on structuring and executing the deal. The operation was underwritten by China’s Haitong Securities, according to two bond traders who had seen preliminary […]
Doha, 02 January 2017 The global publishing, research and consultancy firm Oxford Business Group (OBG) has appointed a new team to oversee its latest project in Qatar. Izabela Kruk takes on the role of country director, while Simon Gaillard will be the Group’s editorial manager for The Report: Qatar 2017. Kruk moves into her new post from Nigeria, where she contributed to the Group’s most recent report […]
LONDON Euro zone stocks opened 2017 by climbing to their highest in more than a year on Monday after data showed manufacturers in the currency bloc ramped up activity at the fastest pace in more than five years. With all of Asia’s major markets closed for the New Year holiday – along with Britain and Switzerland in Europe – trade was thin, which could cause some volatility. […]
Airbusand Boeingare bracing themselves for a challenging 2017 after struggling to reach sales targets in the past year. Later this month the two companies will reveal the final tally for last year’s orders and deliveries, but both look set to fall short of their goal of achieving a book to bill of about one — essentially replacing almost every aircraft delivery with a new order. This would […]
At inauguration, Donald J. Trump promises to make Cleveland Browns great again. This time, even backers say he has gone too far. Continue reading the main story Women’s national soccer team finally agrees to new collective bargaining agreement when U.S. Soccer promises to pay women the same bonus money for winning matches that men receive for losing. February Patriots capture Super Bowl, deflating Cowboys. Championship rings ordered […]
Some analysts believe the rise in Bitcoin is due to some investors treating it as a safe-haven, like gold, at a time of global uncertainty The value of Bitcoin surged above $1,000 on Monday as the digital unit continues a dizzying rise that made it the best-performing currency of 2016. Its value has more than doubled in the last year and it was trading at around $1,024 […]
The awards celebrates the top global banks on their performance through the year. Saudi Arabia, 2 January 2017 Alawwal Bank won The Banker’s ‘Bank of the Year’ (Saudi Arabia) at a ceremony hosted in London, England. The award win caps off a momentous year for the bank and follows a series of award wins in 2016 including ‘Best Mobile Application for Banking’ and ‘Best Call Center’. The […]
Photo Prime Minister Benjamin Netanyahu of Israel at a cabinet meeting in Jerusalem in December. “This will all come to nothing, because there is nothing,” he has said repeatedly of recent accusations of impropriety against him. Credit Pool photo by Amir Cohen JERUSALEM — Police investigators arrived at the official residence of Prime Minister Benjamin Netanyahu on Monday evening to question him, indicating that Israel’s attorney general […]
MANAMA, BAHRAIN – 02 January 2017 Ithmaar Bank B.S.C., a Bahrain-based Islamic retail bank, announced today (ed note: 020117) that it has obtained final approval from the Central Bank of Bahrain (CBB), the Kingdom’s banking and financial services regulator on the completion of all requirements with respect to the reorganisation plan. This aims to further develop the growth achieved in Ithmaar Bank’s core retail banking business, the […]
By Alonso Soto | BRASILIA BRASILIA Around 60 people have been killed in a bloody prison riot sparked by a war between rival drug gangs in the Amazon jungle city of Manaus, officials said on Monday, in some of the worst violence in years in Brazil’s overcrowded penitentiary system. The head of security for Amazonas state, Sergio Fontes, told a news conference that the death toll could […]
LONDON Digital currency bitcoin kicked off the new year by jumping above $1,000 for the first time in three years late on Sunday, having outperformed all central-bank-issued currencies with a 125 percent climb in 2016. Bitcoin – a web-based “cryptocurrency” that has no central authority, relying instead on thousands of computers across the world that validate transactions and add new bitcoins to the system – jumped 2.5 […]
The UAE has moved up a global list of the best destinations for expats to enjoy a successful career while Bahrain is also in the world’s top 10 places to move to. The UAE now ranks as the fourth best destination after moving up two places on 2015 in the new data released by HSBC. Bahrain, ranked 10th, fell three places compared to last year’s list, while […]
