The software behind the exposure of a financial scandal was supplied by an Irishman’s firm, writes Joe Leogue. It may now seem like a lifetime ago, but before Trump and Brexit stole the limelight, the revelations contained within the Panama Papers were early contenders for the story of 2016. The reports that emerged from the huge cache of leaked documents showed the world how the rich exploited […]
Jeddah, Kingdom of Saudi Arabia, 27.12.2016 The Board of Executive Directors of the Jeddah-based Islamic Development Bank (IsDB), in its 316th meeting on Sunday, gave the final go ahead for injecting US $863 million in to new financing development projects in a number of member countries namely; Guinea, U.A.E, Bahrain, Morocco, Senegal, Togo, Djibouti, Chad, Jordan, and Mali. The meeting also approved to a number of important […]
By Yashaswini Swamynathan Wall Street was higher on Tuesday, with the Dow Jones Industrial Average resuming its climb toward 20,000 and the Nasdaq hitting a record as technology and health stocks rose. The blue-chip index has been riding on a post-election rally, feeding on optimism that President-elect Donald Trump’s plans for deregulation and infrastructure spending would bolster the economy. The index, which came within 13 points of […]
The stadium lights ripped the darkness over an empty field. They weren’t supposed to be on. The lights at Princeton University’s stadium, recently upgraded, should have followed an automated cycle, reducing the need for human oversight. Instead, the… Date published 27 December 2016 Towards the end of October 2016, several Indian banks announced they would be recalling millions of debit cards in the wake of a data […]
By Jeffrey Heller | JERUSALEM JERUSALEM The Jerusalem municipality, undeterred by a U.N. anti-settlement resolution, is due to consider on Wednesday requests for construction permits for hundreds of new homes for Israelis in areas that Israel captured in 1967 and annexed to the city. Israel is still fuming over the resolution approved last Friday by the United Nations Security Council that demands an end to settlement activity […]
The low-for-long era is over. Central banks, fiscal activism and populism pricked the bond bubble in 2016. Next year will be a lot worse for bond investors, and the aftershocks of the burst will spread across many other assets. Since the crisis, investors have been buying bonds for capital gains and equities for yield, trusting in the holding hand of easy monetary policy. However, today the central […]
Law Blog rounds up the morning’s legal news: Pooled accounts: Tens of billions of dollars every year move through opaque law-firm bank accounts that create a gap in U.S. money-laundering defenses, according to a Wall Street Journal analysis. [WSJ] Judicial vacancies: Donald Trump is set to inherit an uncommon number of vacancies in the federal […] (via WSJ)
Submitted by Alice Salles via TheAntiMedia.org, The end of the year is approaching, and data concerning government abuses of power has begun pouring in. According to Facebook’s Global Government Requests Report, government’s requests for Facebook account data rose 27 percent in the first half of 2016. Facebook’s official announcement explained that requests for user data went from 46,710 in the last half of 2015 to 59,229 in […]
By Patrick Graham | LONDON LONDON Share prices inched higher on Tuesday as trading in some of the world’s major financial markets resumed after a Christmas break, with oil and the dollar also rising marginally. Concerns about Italian banks, Chinese growth and U.S. President-elect Donald Trump’s protectionist bent look set to keep investors on edge into the start of 2017. But expectations the new administration will splash […]
Toshiba warned the market that it could book an impairment loss of “several billion dollars” at its troubled US nuclear division and reconsider its presence in that industry as accounting issues returned to blight one of Japan’s biggest industrial names. With Toshiba’s financial position becoming more clouded by the announcement, its chief executive, Satoshi Tsunakawa, told a press conference on Tuesday night in Tokyo that the company […]
The eurozone’s biggest stock markets are closing in on double-digit gains for the final quater of 2016, as a combination of resurgent banks shares and a weaker euro entice investors into a region that has disappointed for much of the year. On Tuesday’s return from the Christmas break, Germany’s Xetra Dax 30 advanced 0.1 per cent in early afternoon trading, and is now up more than 9 […]
TOKYO Tokyo Electric Power (Tepco) is gauging demand for its first bond offering since the 2011 Fukushima nuclear calamity, with some market participants expecting a sale as early as February, people familiar with the plans said. Once-sceptical investors are now more comfortable with the utility’s outlook after government moves to reassess decommissioning and compensation costs, bankers and investors who asked not to be identified told Thomson Reuters […]
In 2016 it was all about Panamagate. But by retaining Konrad Mizzi in his executive and Keith Schembri besides him in Castille, Prime Minister Joseph Muscat stubbornly failed to recognise the extent of the public outrage at these revelations Jurgen Balzan 27 December 2016, 7:20am Joseph Muscat stood by his men and by his own admission, he evidently considers himself unable to complete the energy plans without […]
Anyone willing to pay for it can get access to fast internet, right? Not exactly. Low income neighborhoods — those with median household incomes below $34,800 — are five times more likely not to have access to broadband internet than neighborhoods with a median income above $80,700. In an increasingly connected economy, internet inequality is more than an inconvenience. For many households in the U.S. tools like […]
A problem has emerged for France’s anti-immigrant, anti-Euro presidential frontrunner, Marine Le Pen, and it has little to do with being behind in the polls ahead of the 2017 presidential elections, far from it. It has, however, everything to do with something far simpler: money, as the National Front leader is suddenly struggling to raise the €20 million ($21 million) she needs to fund the French presidential […]
Iran’s rial hit a record low against the U.S. dollar on Monday in a sign of concern about the country’s ability to attract foreign money after U.S. president-elect Donald Trump takes office. The rial was quoted in the free market at 41,500 to the dollar, weakening from around 41,250 on Sunday and 35,570 in mid-September. Before this month, the record low was about 40,000, hit in late […]
Chinese retail investors may be able to dream of Picasso while hanging share certificates on their walls. A Singapore-based Chinese billionaire investor, who this year acquired stakes in peer-to-peer group Lending Club, Legg Mason, the fund manager and Sotheby’s, has proposed “securitising” the artist’s work to create fractional ownership and tap a wider market in Asia. Chen Tianqiao and his wife Chrissy Luo, co-founders of investment group […]
The prime minister defended his retaliation. “Israel is a country with national pride, and we do not turn the other cheek,” he said. “This is a responsible, measured and vigorous response, the natural response of a healthy people that is making it clear to the nations of the world that what was done at the U.N. is unacceptable to us.” Continue reading the main story The Security […]
Stacie Overton Johnson and Adam Workman pick their favourite restaurants of the year, based on great decor and ambience as well as fabulous food. • Reviewed meals are paid for by The National and conducted incognito. Contact the restaurants as prices may have changed since our original reviews newslide Abu Dhabi Butcher & Still Very few of us will ever be cool enough to recreate the Al […]
The European Central Bank has said that Monte dei Paschi di Siena’s capital shortfall has risen to €8.8bn from €5bn, significantly increasing the price tag of the rescue of Italy’s third-largest lender by the government. In a statement released late on Monday, MPS also revealed that the ECB had warned that the bank’s liquidity had suffered a “rapid deterioration” over the past month, as it tried in […]
The Sunday Times of Malta’s cartoonist Steve Bonello picked this effort as his favourite cartoon of the year. “The Panama Papers had not been published by that date (March 13), but it was what all of Malta was talking about, with the government pedalling hard to shift the focus on its three years of achievements,” Mr Bonello said in explaining his choice. It is indeed a remarkable […]
By Jeffrey Heller | JERUSALEM JERUSALEM Benjamin Netanyahu has been unrelenting in his criticism of the Obama administration over what he condemned as its “shameful” decision not to veto a U.N. Security Council resolution calling for a halt to Israeli settlement-building. But with the clock ticking down on Barack Obama’s presidency, a possibly more amenable Republican Donald Trump waiting in the wings and a $38 billion U.S. […]
MILAN The European Central Bank has told Monte dei Paschi it needs to plug a capital shortfall of 8.8 billion euros ($9.2 billion), higher than a previous 5 billion euro gap estimated by the bank, the lender said on Monday, confirming what sources told Reuters. Last Friday the Italian government approved a decree to bail out Monte dei Paschi (BMPS.MI) after Italy’s No. 3 lender failed to […]
Retailers in the U.S. are hoping to clear stock a day after Christmas so, for bargain hunters, Dec. 26 is the next best day — after Black Friday and Cyber Monday — to score some amazing deals and discounts. Before we forget: today is also a federal holiday. This means that most government offices, banks, post offices, schools, and libraries will be closed on this day. Some people, […]
