Donald Trump has named Goldman Sachs president Gary Cohn to head the White House National Economic Council, marking his third top appointment from the ranks of the bank despite his pledge to sever links between Wall Street and Washington. The appointment of Mr Cohn, who serves as chief operating officer, leaves Goldman nursing another big departure from its leadership team just weeks after the news that the […]
Following Friday’s report by RCB’s Charlie McElligott which sought to answer “THE” question every investor is asking, namely “what could derail this rally“, today’s the cross-asset strategist has released a follow up analysis in which he warns that even though the bond battering continues – and is likely to continue for a while – the market is now being set up for a “massive mean-reversion” counter-trend rally […]
A month ago, India asked more than 1.2 billion people to turn out their pockets and turn in their old bank notes, all in an effort to stamp out corruption and tax evasion. A colossal undertaking by any standard, the experiment has unfolded in ways that few nations’ administrators might have been able to predict. That has forced the Indian government to adapt, sometimes without warning, to […]
MIAMI – The government of Panama, anxious to show the financial world that it is engaged in meaningful reform, has announced that it is adopting the recommendations of the controversial independent committee that was hastily formed as a counter to the national reputational damage inflicted by the Panama Papers documents leak. However, the two non-Panamanian members of the committee resigned, charging that the project was flawed from […]
By Toni Clarke Dr. Scott Gottlieb, a partner at one of the world’s largest venture capital funds and a former deputy commissioner at the U.S. Food and Drug Administration, is being considered by President-elect Donald Trump to run the agency, according to sources close to the transition team. Gottlieb, 44, a venture partner at New Enterprise Associates and resident fellow at the American Enterprise Institute, a conservative […]
The MoU envisages bilateral cooperation between ICD and PTA Bank in order to promote and facilitate the execution of their respective mandates through financing and investments in their common member countries JEDDAH, Kingdom of Saudi Arabia, December 12, 2016/ — A Memorandum of Understanding (MoU) was signed between, the Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-PS.org), the private sector arm of Islamic Development […]
ABU DHABI // With kindergarten pupils making up nearly 20 per cent of the private schools population, investors are being encouraged to open more schools catering to the early years education. The Abu Dhabi Education Council, which regulates private schools in the emirate, recently held a workshop for about 60 prospective and current investors to offer information on the business opportunities available in the education market. It […]
Crude oil surged to the highest in 17 months amid efforts to cut production, pushing up the outlook for global inflation and sending 10-year Treasury yields above 2.5 percent for the first time since October 2014. Chinese equities tumbled. Oil jumped more than 4 percent in New York and London after Saudi Arabia signaled it will cut output by more than previously agreed amid a weekend deal to […]
Submitted by Michale Shedlock via MishTalk.com, The eurozone cannot survive without Italy. The serious problem at the moment is the Eurozone also cannot survive with Italy. Two of Italy’s three largest parties are anti-Euro. The only party in Italy that does support the euro is ex-prime minister Matteo Renzi’s Democratic Party. And with Renzi gone, there’s a huge risk the party splinters. Regardless, there are no likely […]
By Ahmed Rasheed | BAGHDAD BAGHDAD Several thousand Iraqi federal police are ready to join the assault against Islamic State in east Mosul, a spokesman said on Monday, reinforcing troops who have faced weeks of fierce counter-attacks from the militants. The extra forces are being deployed as the gruelling U.S.-backed campaign to crush Islamic State in its Iraqi stronghold enters its ninth week. Elite army troops have […]
NEW DELHI—Early last month, Prime Minister Narendra Modi summoned his cabinet to a room in India’s capital, told them to leave their cellphones outside and delivered a shocker: He was about to go on national television to declare that almost 90% of the country’s paper money would no longer be legal tender. The move, prepared in secret by Mr. Modi and his advisers, kicked off a radical […]
The prospect of a more aggressive Federal Reserve and a surge in the oil price hit global bonds on Monday, sending the yield on the benchmark 10-year Treasury note above 2.5 per cent for the first time since 2014. Treasuries have led a sharp sell-off in sovereign bonds since Donald Trump’s victory in last month’s US election, raising the prospect that Fed officials will have to raise […]
Photo Credit Angie Wang More than 25 years ago, at the height of the effort to pass hate speech codes on college campuses, I wrote a monograph about how to do it without censorship. It began with a quotation from a student who had been bullied because he was Asian-American: “I wish they had hit me.” If he had been beaten, he said, the damage would have […]
Goldman Sachs said the formal agreement by non-OPEC oil producers this weekend in Vienna to help curb output was reached with a goal of “normalization” of inventories and not necessarily just at raising oil prices. The Organization of the Petroleum Exporting Countries (OPEC) had previously agreed to cut output by 1.2 million barrels per day (bpd), and on Saturday, 11 non-OPEC producers agreed to join the effort […]
The Chinese government has warned Donald Trump that the two countries will have “nothing to discuss” if the US president-elect’s incoming administration decides to discard the four-decade old “One China” policy. “Adherence to the One China policy is the political bedrock for development of [bilateral] relations,” Geng Shuang, a foreign ministry spokesman, said on Monday. “If compromised, there will be nothing to discuss on co-operation in major fields.” […]
The recent deal to keep Carrier jobs in the United States is not at all unusual. It only received so much press because Trump made it a campaign issue and saw an opportunity to record a big early PR victory before he even took office. Government and corporations cooperate, negotiate deals, scratch each others backs, kickback ill-gotten gains, and function as a career advancement funnel for corrupt […]
This is part of a series on the global rise of exchange traded funds Each day, the investing public hears news of the latest developments in exchange traded index funds (ETFs). But rare is the mention of traditional index funds, which I call Tifs, although the acronym has yet to gain acceptance. In 1976, I created the first Tif. It was named First Index Investment Trust (now […]
The NSW Department of Industry’s Division of Resources and Energy (DRE) has tasked Singapore-based data startup Latize with helping it transform mining safety and incident analysis processes using data intelligence. While the value of the contract has not been disclosed, Latize said DRE is the first local government client it has acquired since opening up an office in Sydney in June. The deal comes at a time […]
By Howard Schneider | WASHINGTON WASHINGTON The Federal Reserve inaugurates the Trump era this week with a near-certain interest rate increase and new economic forecasts providing a first glimpse into whether the U.S. election has reshaped the central bank’s growth and inflation outlook. Fed fund futures show a 97 percent probability that the Fed will lift rates by a quarter of a percentage point at the end […]
The Islamic Development Bank has listed a $1.25 billion sukuk on Nasdaq Dubai, the region’s international financial exchange. It is the seventh sukuk listing on the exchange by the IDB, making it the largest sukuk issuer on Nasdaq Dubai at $8.55 billion. Altogether, Nasdaq Dubai has 56 sukuk listings totalling $43.96 billion, making it the largest exchange in the world for Sukuk by value. Based in Saudi […]
By Engen Tham and Adam Jourdan | SHANGHAI SHANGHAI Ma Yiqing, 24, is typical of China’s younger generation – he uses his credit card frequently and borrows from online platforms to fund his shopping habits. In a pinch, he is happy to fall back on a lender closer to home – his mum and dad. Interviews with Ma, a single-child, his mother and grandmother, show how rapidly […]
11 December 2016 Dubai-UAE – National Bonds Corporation (National Bonds), the leading sharia-compliant savings and investments company in the UAE, has launched its Prestige wealth management program for the benefit of high net-worth customers that total more than 11,000 of the company’s 817,000 client base. National Bonds announced the program at a special gala dinner at the Ritz Carlton in Dubai International Financial Center (DIFC). Attended by guest […]
Boeing officials, already dismayed by Mr. Trump’s attack last week over the costs of a new Air Force One, acknowledged that the Iran jet deal still faced contingencies — a polite way of saying they were deeply worried about whether Mr. Trump and the Republican-led Congress would support it. Continue reading the main story Beyond that deal, Boeing and other companies that export jet engines, high-tech products […]
First it was the Fed, then the ECB (which last week tapered when it reduced the monthly amount of bond purchases under its QE program). Now attention shifts to the Bank of Japan, because as the WSJ writes, one of central banking’s most aggressive easers – Kuroda’s Bank of Japan – may soon have to think about tightening for the first time since 2007. While it has […]
