SYDNEY Asian shares inched ahead on Wednesday while the dollar and commodities rallied as investors shook off disappointment about U.S. President Donald Trump’s failed healthcare bill and focused on an improving outlook for global growth. The cheerful mood did not extend to the pound which was on the skids as the British government sent a letter to Brussels formally starting the country’s exit from the European Union. […]
The triggering this week of Article 50 of the Lisbon treaty to facilitate Britain’s exit from the EU is undoubtedly a momentous event. At issue in the forthcoming talks will be whether Britain can win back control over immigration and lawmaking without wrecking trade relations in its biggest market and damaging London’s status as the pre-eminent international financial centre. A minimum of two years of difficult and […]
By Daniela Desantis | ASUNCION ASUNCION Security forces surrounded Paraguay’s Congress on Tuesday while lawmakers argued over a possible change in law that would allow President Horacio Cartes to run for re-election, a move that the opposition says would weaken democratic institutions. A bill allowing presidents to run for a second five-year term was defeated in the legislature last year. This week a group of senators asked […]
ABU DHABI // With globalisation threatening to erode the national identities of students across the GCC, experts and academics gathered in the capital on Tuesday to discuss how to promote Khaleeji culture and bonds. The two-day Strengthening Gulf Citizenship conference hosted by the Ministry of Education sought to address how technology and communications can be harnessed to promote a shared regional identity among youths, rather than allowing […]
Era defined by seemingly random and unrelated events combining to create new structures Delegates told to ignore traditional bureaucracy and ‘listen to the information flow’ Global Manufacturing and Industrialisation Summit held at the Paris-Sorbonne in Abu Dhabi from March 27-30, 2017 Abu Dhabi, UAE, March 28, 2017 Beth Comstock, Vice Chair, GE, told delegates to the inaugural Global Manufacturing and Industrialisation Summit (GMIS) that we […]
Index provider FTSE Russell is to consult with stakeholders about including Snap in its widely followed Russell indices, amid investor worries about lack of shareholder rights at the newly listed messaging app provider. The consultation, to be officially launched in the coming days, is the latest sign of growing interest among “passive” fund managers in the corporate governance of the companies their index-tracking model obliges them to […]
BEIJING The inaugural flight of a new charter service from North Korea’s capital to the northeastern Chinese city of Dandong landed on Tuesday, the official Xinhua news agency said. The launch comes amid ongoing tensions on the Korean peninsula over the hermit state’s missile and nuclear tests, which it says are in response to joint drills between the United States and South Korean military. The twice-weekly flight […]
Since its founding in 1857, The Atlantic has been a fundamentally American magazine. It was launched by leading lights of American literature: Ralph Waldo Emerson, Henry Wadsworth Longfellow and Oliver Wendell Holmes. Nathaniel Hawthorne reported for the magazine from Civil War battlefields. President Abraham Lincoln once said that a favorable article in the magazine could save him seven or eight battles in the Civil War. But soon, […]
“The new tax rate will bring Saudi Aramco in line with international benchmarks,” Saudi Aramco’s chief executive officer, Amin H. Nasser, said in a statement. Continue reading the main story The tax cut was announced a couple of months after intensive discussions with international bankers in Riyadh about how the offering should be structured. Bankers and independent specialists said the cut would help increase the cash flow […]
THE DEAD SEA, Jordan: The Council of Arab Foreign Ministers on Monday approved 17 draft resolutions, including the rejection of unilateral steps that “jeopardize the historic and legal status” of Jerusalem. The draft will be presented to Arab leaders at their summit on Wednesday.It followed an announcement by Jason Greenblatt, US envoy to the Middle East, that he looks forward to attending the Arab Summit as an […]
HONG KONG Acquisitive Chinese conglomerate HNA Group is in talks to buy a controlling stake in the owner of the publisher of Forbes magazine, two sources with knowledge of the matter told Reuters. Hong Kong-based investor group Integrated Whale Media Investments (IWM), which holds 95 percent of Forbes Media, is also in talks with another Chinese media firm and is scouting for more potential buyers for most […]
By Tom Westbrook and Benjamin Weir | SYDNEY SYDNEY Howling winds, heavy rain and huge seas pounded Australia’s northeast on Tuesday, damaging homes, wrecking jetties and cutting power to thousands of people as Tropical Cyclone Debbie tore through Queensland state’s far north. Wind gusts stronger than 260 km per hour (160 mph) were recorded at tourist resorts along the world-famous Great Barrier Reef as the powerful storm, […]
Adriaane Pielou Holidaying on horseback is guaranteed to lift the spirits. The exhilaration you feel after spending time in the fresh air afforded by the countryside is enhanced by the fact that you can choose from a range of trips. Despite being a sporty kind of activity, a riding holiday can involve weeks crossing mountains and camping out each night. However, you can also choose undemanding meanders […]
The bagpiper striding across the bottle label wears flowing green tartan, a luxuriant black moustache — and a red turban. Bagpiper whisky, distilled by Diageo through its United Spirits subsidiary in India, is one of India’s most popular brands, available even in a tetra pak. But at Rs300 ($4.50) for a 750ml bottle, it is not a brand that will power a rapid return on Diageo’s £1.9bn […]
Mr. Netanyahu, several experts said, wants to talk to Mr. Trump about how best to confront Iran. But the administration’s policy toward Iran is still taking shape, making it less fruitful for the Israeli leader to come to Washington for a face-to-face meeting with the president. Continue reading the main story In his video appearance — after joking that he skipped the conference to avoid standing in […]
Last week we noted that Mexico’s Economy Minister, Ildefonso Guajardo, was somewhat less than completely supportive of Trump’s impenetrable, yet “aesthetically pleasing”, 30-foot border wall and issued a stark warning to Mexican companies that it would not be in their best “interests” to participate in the project even though there would be no explicit legal restrictions or sanctions to stop them if they tried. Per Reuters: “We’re […]
Colombia-based airline Avianca filed a counter lawsuit in New York on Monday in the latest round of a no-holds-barred legal battle between two Latin American tycoons over the strategic control of one of the region’s biggest carriers and its mooted alliance with United Airlines. Avianca and Gérman Efromovich, the carrier’s biggest shareholder, accused Kingsland Holdings, its second-biggest shareholder, of leaking boardroom secrets in an attempt to obstruct […]
Vocus Communications has announced selling its 16 percent stake in Macquarie Telecom, offloading 3,358,511 MAQ shares at a price of AU$12.20 per share for a total of around AU$41 million. Vocus sold 100 percent of its interest in Macquarie Telecom to both institutional and retail shareholders via a block trade, it announced to the Australian Securities Exchange on Tuesday morning. According to Macquarie Telecom, the sale of […]
SEOUL South Korea’s Kori No. 4 nuclear reactor was manually shut down after the water level in a collection tank rose due to a coolant leak, a spokesman at the reactor’s operator said on Tuesday. “We estimate the water level of the reactor’s collection tank increased after coolant was leaked,” said Lim Dae-hyun, the spokesman at Korea Hydro & Nuclear Power Co Ltd (KHNP) [KRHYDR.UL]. Lim added […]
European governments and related organisations have ramped up their sales of new debt this year, in the latest sign of bond markets bracing for rises in interest rates and an increase in political risks. Overall borrowing from eurozone sovereigns, local authorities, agencies and supranationals such as the European Investment Bank is currently at €210bn — the highest year-to-date amount since 2012, Dealogic data show, and the second-highest […]
By Mfuneko Toyana and Sujata Rao | JOHANNESBURG/LONDON JOHANNESBURG/LONDON South African President Jacob Zuma asked Finance Minister Pravin Gordhan on Monday to return home “immediately” from an investor roadshow abroad, reviving talk of a cabinet reshuffle and unnerving investors who see Gordhan as an emblem of stability. The rand fell more than 3 percent against the dollar, its biggest one day fall since Nov. 10, South African […]
Peruvian ceviche is the new sushi, according to Sanjay Dwivedi, the executive chef at Coya, which has venues in London, Miami, Dubai and, as of last week, at The Galleria in Abu Dhabi. Coya’s debut in the capital marks the latest in a long list of South American-inspired eateries to have popped up in the UAE in recent months – from Pollo Pollo and Lima to Inka. […]
March 27, 2017 by: Roger Blitz in London and Eric Platt and Robin Wigglesworth in New York Financial markets shuddered on Monday as investors absorbed the collapse of US healthcare reform last week, with some fearing pro-growth policies like tax reform could be stymied by government inaction and a Republican party in disarray. Global stocks retreated, US banks slid into correction and the dollar index fell to […]
Kuwait is seeking to follow its Gulf neighbours in its bid to gain emerging-market status. The nation’s Capital Markets Authority plans to extend its settlement cycle for stock trades by the end of April to three days from two for foreigners and zero for local traders, Vice-Chairman Mishaal Al-Usaimi said at a conference in Kuwait City. The regulators are also planning to introduce short-selling and derivative products […]
