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SYDNEY A new ocean debris drift analysis shows missing Malaysia Airlines MH370 is most likely within a proposed expanded search area rejected by Australia and Malaysia in January, the Australian government’s scientific agency said on Friday. A A$200 million ($150.54 million) search for the aircraft, which went missing in 2014 with 239 people onboard, was suspended when the two nations rejected a recommendation to search north of […]

The construction of Asia-Pacific fibre infrastructure company Superloop’s Indigo subsea cable system has reached a contractually binding status following Alcatel Submarine Networks entering a system supply agreement. The agreement makes the submarine cable system supply and construction binding for all parties, as well as the process of bringing it into operation. The contract was executed between Alcatel Submarine Networks and the Indigo consortium parties including Superloop and […]

By Warren Strobel and Arshad Mohammed | WASHINGTON WASHINGTON The United States wants new commitments from Saudi Arabia to improve its targeting procedures to minimize civilian casualties in its part in the Yemen civil war as it weighs resuming sales of precision-guided munitions to Riyadh, U.S. officials told Reuters. An announcement of the weapons sale had been anticipated last month, but objections by mostly Democratic lawmakers and […]

Bali, the Indonesian island with picture-perfect natural landscapes and rich culture is a favourite amongst travellers from all over the world for a reason. Boasting serene beaches, volcanic mountains and scenic rice paddies, the isle east of Java is not only a visual treat, it also presents visitors with a buzzing art scene, delectable cuisine and recreation like no place else. Far off from the tourist hotspots […]

By Maiya Keidan and Jemima Kelly | LONDON LONDON Hedge funds lost out on Tuesday after British Prime Minister Theresa May shocked markets by calling a snap election, but those led by humans outsmarted those led by machines, in a reversal of fortunes from the Brexit referendum. While computer-driven hedge funds garnered plaudits for their outperformance in the wake of Britain’s shock vote to leave the European […]

By Chad Bray A federal judge said he needs more time to consider a $602 million settlement by hedge-fund firm SAC Capital Advisors LP to resolve allegations related to what federal authorities have called the most lucrative insider-trading scheme ever. The civil settlement with the Securities and Exchange Commission is one of two such agreements reached earlier this month by SAC, one of the nation’s most successful […]

The London market broke a four-day losing streak as the week’s spate of sterling-induced selling eased and consumer stocks from Burberry to Unilever put in robust performances. The marginal gains for the FTSE 100 were not enough to reverse Wednesday’s fall into losses for the year for the benchmark. But UBS maintaining that Burberry was its “preferred turnround name in luxury” and top pick in that European […]

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By Ulf Laessing | MOSUL, Iraq MOSUL, Iraq If you want to hear the resentment people of Mosul feel now that Iraqi forces have driven Islamic State out of most of the city, you should talk to Saddam Hussein. Not the dictator, but the Mosul schoolteacher, who proudly shows off an identity card bearing the name which his parents gave him in the ruler’s honour 45 years […]

ABU DHABI // The attack on the UAE’s humanitarian convoy in Somalia on Wednesday will only strengthen the Emirates’ will to support peace and stability in the region, security experts said. “This incident is not going to deter the UAE from being active in the humanitarian field, where it has been active in the past few decades,” said Ahmed Al Attar, assistant director of defence and security […]

There’s little doubt from the budget offered last month that Donald Trump wants to take the government in some radically different directions than that of his predecessor in the Oval Office, Barack Obama. Trump’s initial blueprint for fiscal year 2018 calls for massive increases in military spending and immigration enforcement, along with hefty reductions in foreign aid, environmental protection and a grab bag of social programs. But beyond the […]

Underwriting profitability for listed insurers in the UAE has returned in 2016 but is still borderline, according to S&P Global Ratings. The average combined ratio improved to 99 percent in 2016, from its peak of 105 percent in 2015, which marks the return of technical profitability for the market. “While the overall market results look profitable, 15 out of 29 listed insurers still posted combined ratios above […]

A few months ago, staff at The Minneapolis Star Tribune did something journalists don’t always have the time to do: think way ahead. One year in advance, staff photographers shot images of the Minnesota winter for next winter’s StarTribune Magazine. The quarterly magazine debuted Sunday, marking a new product for a newsroom that’s worked hard over the last year to become more digital. But that new product […]

The chairman of Saudi-based construction giant Dar Al-Arkan on Wednesay rang the market opening bell to celebrate the listing of a $500 million sukuk on Nasdaq Dubai, the region’s international exchange. Yousef Bin Abdullah Al-Shelash said the listing provides support for Dar Al-Arkan’s capital-raising strategy as it prepares for further property development activities across Saudi Arabia. The sukuk was two times oversubscribed and received significant interest from […]

By Roberta Rampton | JAKARTA JAKARTA U.S. Vice President Mike Pence toured Southeast Asia’s largest mosque on Thursday during a visit to Indonesia, calling the Muslim-majority nation’s tradition of following a moderate form of Islam “an inspiration to the world”. Pence, an evangelical Christian, has sought to use his trip to soften some of the harsher edges of rhetoric about the Muslim world used by U.S. President […]

By Jon Herskovitz | AUSTIN, Texas AUSTIN, Texas Hundreds of condoms that clogged a city sewer pipe led police to raid a massage parlor in Texas and arrest two people for prostitution and other crimes, police documents released on Tuesday showed. A real estate agent who had just taken over the property notified police of the blockage at Jade Massage Therapy in the Texas capital of Austin. […]

With ‘Never-Trump’-ers still convinced he is Hitler and ‘Trump’-ers questioning their reality at his recent flip-floppery, many in the country are asking why should we support this President (even as his approval ratings rise with each warmongering threat). Well there is a simple – and perhaps greedy – reason… the world’s debt and equity markets have gained over $8 trillion since his election and a loss of […]

By Syed Raza Hassan and Saad Sayeed | ISLAMABAD ISLAMABAD Pakistan’s Supreme Court on Thursday ruled there was insufficient evidence to order Prime Minister Nawaz Sharif’s removal from office over corruption allegations levelled by the opposition and ordered further investigations. A verdict to remove Sharif would have left his party in power but would, nevertheless, have sparked turmoil at a time when Pakistan is experiencing modest growth […]

Residents driving on the Sheikh Zayed Highway going to Dubai from Abu Dhabi hit heavy traffic this morning due to an accident near Al Safa 2. Commuters driving from Mall of the Emirates to Dubai World Trade Centre were told to expect delays of up to 45 minutes. Those finding other ways into Dubai from the Northern Emirates along Sheikh Mohammed bin Zayed Road could save time […]

The UAE on Wednesday denounced an attack that took place on a convoy of the Emirates Red Crescent in the Somali capital city of Mogadishu. No human casualties were reported in the attack which local media described as a “landmine explosion” which hit a vehicle ferrying representatives from the charity. The blast happened in Garasbaaley area west of Mogadishu city. In a statement, the UAE Ministry of […]

Jenny Strasburg/The Wall Street Journal Early Friday morning, FBI agents arrested a longtime SAC Capital portfolio manager, Michael Steinberg, on insider-trading charges, making him the most senior employee of one of the nation’s most prominent hedge funds to be snared in the government’s sprawling probe. (via WSJ)

Britain’s benchmark stock index dipped into negative territory for the year on Wednesday, as investors worry that a stronger pound saps the foreign-based revenues for many of the FTSE 100’s multinational companies. The blue-chip gauge slipped as much as 0.5 per cent on Wednesday by the close of trading. The pound retraced some gains in late trade from session highs above the $1.2850 level after surging on […]

In a lab deep within Tata Consultancy Services’ landscaped campus in the western Indian city of Pune, 16 recent graduates are experimenting with new technologies that are shaking up a flagship national industry. TCS, the largest of India’s powerful IT services companies, set up the lab 18 months ago to enable new starters to work on the “internet of things”, the field of connected machines and appliances that […]

Virtu Financial is set to emerge victorious in its effort to buy rival high-frequency trading group KCG Holdings, with a deal expected to be announced on Thursday, according to people briefed on the matter. KCG and Virtu declined to comment. With the announcement of the takeover imminent, Charles Susi, head of institutional sales and electronic trading at KCG, announced internally that he was leaving the company, other […]

By Eyanir Chinea and Anggy Polanco | CARACAS/SAN CRISTOBAL, Venezuela CARACAS/SAN CRISTOBAL, Venezuela Two Venezuelan students died on Wednesday after being shot during protests against unpopular leftist President Nicolas Maduro, increasing turmoil in the volatile nation amid a crippling economic crisis. Opposition supporters protested in Caracas and other cities in what they called “the mother of all marches,” denouncing Maduro for eroding democracy and plunging the oil-rich […]

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