“It sucks,” says Mike Mayo. One of the more visible Wall Street analysts, Mr Mayo lost his job last week when CLSA, the Chinese-owned broker which had employed him, abruptly shuttered its US research operations. At 4.15pm last Monday, as Mr Mayo tells it, he was summoned to an all-hands meeting. At 4.20pm he and 89 others were let go. He went to FedEx to buy nine […]
10 March 2017 MARC has affirmed its ratings of MARC-1/AA on Murud Capital Sdn Bhd’s (Murud Capital) Senior Commercial Papers/Medium-Term Notes Programme (Senior CP/MTN Programme) of up to RM290 million. The outlook on the ratings is stable. Murud Capital currently has an outstanding RM279 million Senior CP under the Senior CP/MTN Programme. Murud Capital is a special purpose vehicle incorporated by MRCB-Quill REIT to set up the […]
By Lucia Mutikani | WASHINGTON WASHINGTON U.S. employers hired workers at a robust pace in February, beating expectations, and wages grinded higher, which could give the Federal Reserve the green light to raise interest rates next week despite slowing economic growth. Nonfarm payrolls increased by 235,000 jobs last month as the construction sector recorded its largest gain in nearly 10 years due to unseasonably warm weather, the […]
Risky US corporate bond funds suffered the largest weekly redemptions since the US election in November, as oil prices settled at their lowest level since December and benchmark stock indices slipped from record highs. The high-yield corporate bond asset class, which is comprised of speculative-rated groups judged more likely to default than their investment-grade peers, recorded outflows of roughly $2.8bn in the week to March 8, according […]
Saudi Arabian corporate earnings may finally have bottomed out after two years of falls due to low oil prices and the government austerity which followed, with the petrochemicals sector leading signs of recovery. But a sharp rebound is unlikely for companies in the Middle East’s biggest economy as further austerity looms and they are competing for customers who are no longer flush with cash. Analysts say stronger […]
Dubai, 10 March 2017 Dubai Investment Development Agency (Dubai FDI), an agency of the Department of Economic Development (DED) in Dubai, along with Dubai Exports, the export promotion agency of DED, will go on a two-week tour of the US on the 11th of March 2017 as part of strengthening the emirate’s engagement with major economies to reinvigorate global trade flows and foreign investment. The mission, which […]
BEIJING/SYDNEY/TAIPEI China said it would “resolutely strike” against the “Dalai Lama clique’s separatist activities” as protesters planned demonstrations in major world cities on Friday to mark the anniversary of a Tibetan uprising against Chinese rule in 1959. The sensitive anniversary coincided with the yearly news conference of Tibet’s delegation to China’s annual meeting of parliament, under way in Beijing. Che Dalha, Tibet’s governor, said the government would […]
By Kentaro Hamada and Makiko Yamazaki | TOKYO TOKYO The Japanese government, fretting over the future of Toshiba Corp’s flagship memory chips unit, is prepared to block a sale to bidders it deems a risk to national security, sources said, a stance that gives U.S. suitors a major advantage. The government would use Japan’s foreign exchange and foreign trade laws to control the auction if need be, […]
Uber’s crisis PR activities have returned to relative normality in Asia after the U.S. firm ran into fresh issues with government regulators in two countries this week: Hong Kong and Thailand. The ride-sharing giant has been fighting some serious corporate fires in the U.S. lately — around its toxic work culture, connections to a polarizing U.S. President, and its CEO’s attitude to its drivers — but it is back to basics as UberX drivers in the two countries come under […]
Your daily guide to community and cultural activities across the Emirates for March 10, 2017, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. Aarti Jhurani rounds up 10 things to do today in the UAE. Want to see your event listed here? Email us with the details and contact information at [email protected] newslide Nationwide New film Badrinath Ki […]
By Thomas Wilson and Minami Funakoshi | TOKYO TOKYO “Radiation! Bang bang!” Gesturing as if with guns, two boys in Tokyo repeatedly taunted a girl whose family fled to Japan’s capital to escape radioactivity unleashed by the Fukushima nuclear crisis of 2011. Tormented by headaches and weight loss, the girl began to skip classes, and switched schools to escape the bullies, her mother told Reuters. But the […]
I’d like to say it isn’t so, but we all know the countdown to the onset of summer has already begun. Make the most of all the great outdoors has to offer with 10 of the best al fresco activities across the four compass points of the UAE. newslide Beach sports Dubai’s meandering shoreline is awash with outdoor experiences, and the newest kid on The Beach, opposite […]
Chowbotics Inc. has landed $5 million in a Series A round of venture funding to develop what it’s calling food service robots. These are machines designed to prepare food in restaurants, cafeterias, hotels, or food courts in airports, malls and hospitals. The company’s flagship product, Sally, is a salad-making robot that uses 20 different food canisters to prepare and serve more than 1,000 different types of salads. According to Chowbotics […]
Nigeria’s telecoms regulator and central bank governor intervened on Thursday to try to help Etisalat Nigeria resolve debt restructuring talks with its lenders, after the company missed a payment on a $1.2 billion loan. A banking source told Reuters on Wednesday that the Nigerian affiliate of Abu Dhabi-listed telecoms company Etisalat had given notice to its Nigerian lenders that it would miss a payment in February. Debt […]
New York and London are locked in a frantic race to be the main international listing venue for Saudi Arabia’s initial public offering of its state oil company, emerging as clear frontrunners in what is set to be the world’s biggest ever flotation. Executives from the New York Stock Exchange and London Stock Exchange have held talks with Saudi Aramco, the state group valued at as much […]
Viva Republica CEO SG Lee Image: Viva Republica Viva Republica, maker of peer-to-peer money transfer app Toss, announced that it has raised $48 million in a Series C round led by San Mateo-based VC firm Goodwater Capital, with PayPal, Bessemer Venture Partners, Altos Ventures, and Partech Ventures also contributing to the round. The latest funding round brings the total amount raised by the Seoul-based company to 87.5 […]
The cost of shorting shares of Snap has fallen sharply as bets against the owner of the messaging app slowed and the share price rallied. Snap’s stock has rebounded in recent sessions after selling off earlier in the week as several analysts’ reports expressed scepticism about the group’s valuation, which had surged above $30bn in the initial euphoria following its high-profile listing last week. At midday in […]
Tunis and Dubai, March 9, 2017 – Nasdaq Dubai and Bourse de Tunis have signed a Memorandum of Understanding (MoU) to explore collaboration possibilities, including initiatives regarding existing and future issuers and listings on the two exchanges. Ways to promote Islamic capital markets products and solutions will also be considered under the MoU, together with supporting potential links between central securities depositories in the respective jurisdictions. The […]
Photo A convoy of American armored vehicles in Manbij, northern Syria, on Sunday. The formal troop cap for Syria is 503, but commanders have the authority to temporarily exceed that limit to meet military requirements. Credit Delil Souleiman/Agence France-Presse — Getty Images WASHINGTON — The United States is sending an additional 400 troops to Syria to help prepare for the looming fight for Raqqa, the capital of […]
By Lovasoa Rabary | ANTANANARIVO ANTANANARIVO Madagascar has started evacuating thousands of people from flooded areas after storm waters broke dykes as the country reeled from the impact of Cyclone Enawo. Enawo hit Madagascar’s vanilla-producing northeastern coast on Tuesday morning, destroying roads and cutting off communications with Antalaha district, which has a population of 230,000 people. Five people were confirmed killed and seven injured late on Wednesday, […]
By Toby Sterling | AMSTERDAM AMSTERDAM Dutch paints and coatings maker Akzo Nobel NV (AKZO.AS) rejected a 21 billion euro ($22 billion) bid from larger U.S. rival PPG Industries Inc (PPG.N) on Thursday, saying instead it wanted to “unlock value” by spinning off its chemicals business. PPG’s unsolicited offer comes just days before an election where the vulnerability of the biggest Dutch companies to foreign takeover has […]
GUATEMALA CITY Eight more girls died of injuries suffered in an arson fire at an overcrowded home for abused children in Guatemala, bringing the death toll to 30, authorities said on Thursday. The fire broke out on Wednesday when some residents set mattresses ablaze following an escape attempt from the government-run Virgen de Asuncion home for youths aged up to 18, in San Jose Pinula, 25 km […]
By Jessica DiNapoli and Makiko Yamazaki | NEW YORK/TOKYO NEW YORK/TOKYO U.S. nuclear firm Westinghouse Electric Co LLC has hired bankruptcy attorneys, in a sign that owner Toshiba Corp (6502.T) is more seriously weighing a Chapter 11 filing as an option to help it rein in a multibillion dollar financial maelstrom. People familiar with the matter said the nuclear engineering company had brought in law firm Weil […]
Why West Berlin? After the fall of the Berlin Wall, the city’s eastern side, formerly occupied by the communist German Democratic Republic, was ripe for renovation. The space created by the removal of the wall, and the old buildings overdue for renewal, meant everything edgy and inventive went east. The formerly cool West Berlin districts fell into something of a funk as the gaze shifted elsewhere. But […]
