Chinese residents hoping to cash out of the renminbi will face a great wall of paperwork on Tuesday in a key test of confidence for the currency as the annual quota for individuals’ foreign exchange purchases resets. With individuals in China allowed to purchase up to $50,000 worth of foreign exchange each calendar year, observers will be watching closely for any signs of a rush to use […]
IHG receives Qatar Financial Markets Authority (QFMA) approval for IPO: Doha, January 1st, 2017 Investment Holding Group (IHG), one of the leading contracting and trading firms in the Qatari construction sector, today announced that it has received approval from the Qatar Financial Markets Authority (QFMA) to list 60% of the Group’s paid-up share capital through an Initial Public Offering (IP0), making it the first Qatari family business […]
Authored by Mark St.Cyr, With 2016 now in the rearview mirror. The one thing that was supposed to be included in that vision was the successful resurgence of IPO’s across “The Valley”. 2016 was supposed to be “the year” of the comeback for unicorn cash-out dreams after what can only be described as a “not as advertised” 2015. For if one needs remembering: 2015 was the worst year […]
Telling voters what they wanted to hear worked out well for Donald Trump. As Mexico shifts into election gear in 2017, another populist, anti-establishment figure will be hoping to follow in the US president-elect’s footsteps. Like Mr Trump, Andrés Manuel López Obrador is a love-him or loathe-him figure with a message that resonates with the underprivileged and the angry. In the case of Amlo, as the maverick […]
Automation, AI, and robotics are the real forces behind the disruption to the global job market, and they will accelerate in 2017. Image: iStockphoto/Matriyoshka As we do each week, the editors of ZDNet will continue to put our heads together in 2017 and give you our weekly Monday Morning Opener–an editorial that zooms in on the most important topic in tech for the week. Now that we’re […]
Via StockCats.com, A couple years ago I noticed a strange phenomenon that occurs around the end of each year – and the beginning of each new year. Dozens of necktie-clad stock market experts appear on CNBC (and in other media) and proclaim they “expect the market to rise 8-10%” the following year. Since this annual ritual seemed to encompass the boiler-plate narrative amongst the highly-paid Wall Street […]
ABU DHABI // Dealing with Iran, the conflict in Yemen and finding a viable outcome to the Syrian crisis are the main challenges the United States will face in the Middle East this year, according to a report by an American think-tank. The 2017 Global Forecast by the Centre for Strategic and International Studies found that the US will also have to work on rebuilding its partnerships […]
Marine Le Pen will borrow €6m from a company owned by her father to fund her campaign for the French presidency this year, after the leader of the far-right National Front failed to secure financing from traditional banks. Florian Philippot, the deputy head of the party, told Europe 1 radio on Sunday that the money would come from a group called Cotelec, which is owned by Jean-Marie […]
Towards the end of October 2016, several Indian banks announced they would be recalling millions of debit cards in the wake of a data breach that affected the backend of software that powered an ATM network there. It was a situation that could have been better mitigated; a government-sponsored organization tasked with sharing information about data breaches completely missed the warning signs that a breach was taking […]
China has tightened checks on citizens exchanging foreign currency in anticipation of renewed downward pressure on the renminbi in the new year. Banks have been asked to improve standards for verifying customers’ identities and to report “large or questionable transactions”, the State Administration of Foreign Exchange (Safe) said in a public statement at the weekend. “There have been leaks in China’s system of personal foreign exchange purchases,” […]
29 December 2016 Jeddah – The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank (IDB) Group, has convened a US$ 45 million Murabaha financing agreement with the Islamic Republic of Mauritania represented by the Ministry of Economic and Finance and the Mauritanian Electricity Company (SOMELEC), as an executing agency. The purpose of the agreement comes within the Financing Plan of Mauritania’s electricity needs […]
Authored by Eric Zuesse via Strategic-Culture.org, I’m a former lifelong Democrat, stating here a clear and incontestable fact: Barack Obama is a failed President. It’s true not just because of the sad realities such as that «Top Ex-White House Economist Admits 94 % Of All New Jobs Under Obama Were Part-Time» — or, as the economists Alan Krueger and Lawrence Katz wrote in the original of that study: «94 percent of the […]
Dubai Chamber of Commerce and Industry has announced that it will launch five new initiatives in 2017 to boost start-ups and entrepreneurs. No details about the new schemes were revealed but a senior Chamber official said in comments published by news agency WAM that efforts to foster innovation and develop Dubai’s entrepreneurial ecosystem will remain a major priority. “With the UAE’s focus on instilling a spirit of […]
U.S. fishing and hunting equipment retailer Cabela’s Inc (CAB.N), which is being bought by privately held rival Bass Pro Shops, said the Federal Trade Commission had sought more information from the companies about the deal. Cabela’s shares were down 7.6 percent at $56.98 in premarket trading on Friday. Cabela’s did not provide details about the FTC’s request. As part of the proposed $5.5 billion deal, announced in […]
New penalties for professional advisers who help their clients to evade tax come into force today, as part of a bid by the government to tackle abuses of the excise system. Accountants, bankers, lawyers and other advisers can be fined by up to the value of the tax they helped their client evade, up to a maximum of £3,000. HMRC will also name and shame company involved. […]
The women cowered behind a flimsy bedroom door. One of them dialed 911. Another clutched a stubby kitchen knife. Continue reading the main story Since leaving the corps in 2012, Siatta had been unable to switch off the habits of war. He was hypervigilant and struggled to relax. He watched people, sizing them up and scanning for threats. In the varying situations of everyday life, he constantly […]
Kuwait Finance House (KFH), the country’s biggest Islamic lender, has announced the launch of operations of 10 ATMs for the blind in various areas of Gulf state. The move is part of KFH’s efforts to provide banking services to customers with special needs, the bank said in a statement. The ATMs have been launched at in its branches in Keefan, Rawda, Shaab, Zahraa, Mubarak Al-Kabeer, Dhaher, Fahaheel, […]
Submitted by Michael Shedlock via MishTalk.com, In the wake of the near collapse of the Dallas police and fire pension fund, a Dallas News editorial says Former Police, Fire Pension Managers Should Face Criminal Investigation. Mayor Mike Rawlings is right to ask for a state criminal investigation into shady practices by the Dallas Police and Fire Pension System’s prior management. The fund is on the verge […]
The Central Bank of Oman will be forced to follow the US Fed’s tightening cycle over the coming months, despite low inflation and rising liquidity pressures at home, according to BMI Research. It said in a research noted that combined with low commodity prices, the strength of the US dollar, and weaker economic activity, Oman will adopt a more hawkish monetary policy to lead to average consumer […]
Dubai-UAE: 29 December, 2016 As the New Year approaches, it brings with it new expectations, new aspirations and new resolutions. Along with shedding a few kilos, picking up a new skill or travelling to a faraway land, it’s also time to get a handle on your finances. Here are a few questions for your bank as a first step in this direction. Ask all the usual questions, […]
The traditional paper statement is growing ever longer, complain banks, because they now have to log millions of extra payments from customers tapping their contactless cards. The rapid growth of contactless “tap and pay” and online card transactions means greater volumes of low-value purchases are being recorded line-by-line on bank statements. The average HSBC statement has grown from 2.55 pages to 2.64 pages in the past two […]
Globalization, the path that the world economy has largely followed for decades, took some hefty blows in 2016. The election of Donald Trump as U.S. president and Britain’s decision to leave the European Union have raised questions over the future of tariff-free trade and companies’ freedom to move production to lower-cost countries. Borders are back in vogue. Economic nationalism is paying political dividends. “We […]
Newly formed alliance to play key role in enhancing innovative leadership and provide essential support for emirate’s efforts to maintain global competitiveness December 29, 2016 Sharjah Tatweer Forum and Sharjah eGovernment have recently signed a new Memorandum of Understanding (MoU) signalling the start of a strategic new partnership aimed towards further promoting the Sharjah Leadership Program (SLP), an initiative aimed towards developing leaders who are well informed […]
Market intelligence and networking platform builds momentum as it gathers senior industry decision-makers in third outing. Dubai 29 December,2016 MAZ Chartered Accountants, the region’s leading audit, taxation, financial and management consultancy has held its 3rd MAZ Annual Seminar. The Seminar’s third iteration built on previous years’ success to curate a powerful platform where professionals accessed industry intelligence, developed contacts, improved professional networks and kept pace with a […]
