Dubai Islamic Bank (DIB), the United Arab Emirates’ largest sharia-compliant lender, is targeting loan growth of between 10 and 15 percent in 2017 after reporting an estimate-beating 58.4 percent rise in fourth-quarter 2016 net profit. Aiming to pave the way for the bank’s next stage of growth, it also said it would seek shareholder approval next month to raise Tier 1 issued capital by $1 billion, as […]
BRASILIA Public health officials in Brazil are working to stop an outbreak of yellow fever that has killed at least 40 people from becoming an epidemic and urged people in nine states on Thursday to seek vaccinations. The Health Ministry said 70 cases of the fever and 40 deaths have been confirmed in the outbreak, centred in rural areas of the state of Minas Gerais, and another […]
AT&T Inc (T.N), the No. 2 U.S. wireless carrier, reported quarterly results that matched analysts’ estimates, as it added more smartphone customers in a saturated wireless market, and said it was confident its deal to buy Time Warner Inc (TWX.N) would be approved. Thirteen Democratic senators on Wednesday asked AT&T to explain how its planned $85.4 billion takeover of Time Warner is in the public interest. In […]
The growth in computing power and battery life for phones and tablets has left traditional PCs and desktops searching for an identity. This has forced manufacturers to reexamine the form, functionality, and purpose of PCs overall and desktops in particular. If a tablet can do what once required the power of larger systems, do desktops even have a place in the market? PC sales continue […]
Dow 20,000 is here at last. No regular reader — or indeed, any sentient and sensible human being — should base any investment decision on the Dow. Its methodological flaws are irremediable. And in any case, round numbers should not matter. One brief illustration of the Dow’s primitive methodology will suffice. Just five of its stocks — Goldman Sachs, IBM, Boeing, UnitedHealth and JPMorgan Chase — account […]
BRASILIA Brazilian public health officials are working to stop an outbreak of yellow fever that has killed at least 40 people in Brazil from becoming an epidemic, urging people to seek vaccinations in nine of the country’s 26 states. The Health Minister said on Tuesday that 70 cases of the fever and 40 deaths have been confirmed in the outbreak centered in rural areas of the state […]
Dubai, UAE; 25th January 2017 Mashreq, one of the leading financial institutions in the UAE, today has reported its financial results for the year ending 31st December 2016. Key highlights [2016 vs 2015]: Stable growth in Operating Income Operating Income up 3.2% year-on-year to AED 6.2 billion driven by strong growth in Net Interest Income & Net Income from Islamic Products Advertisement Net Interest Income & Net […]
The Dow Jones Industrial Average on Wednesday rose above 20,000 points for the first time marking a milestone for Wall Street’s venerable equity barometer as the Trump trade that stalled at the onset of 2017 resumes. The gauge of blue-chip companies climbed 0.5 per cent to 20,014 in opening trading, as US equities extended their record-setting rally that began after the presidential election in November. Investors have […]
By Abdi Sheikh and Feisal Omar | MOGADISHU MOGADISHU Fighters from Somalia’s al Shabaab group rammed a car bomb into the gate of a hotel in the capital Mogadishu on Wednesday and then stormed inside the building, where politicians often stay. Gunfire rang out as fighters entered Dayah Hotel and a second blast shook the area shortly afterwards, police and witnesses said. Several people were injured and […]
Until recently, oil rich Gulf states could afford to ignore global bond markets. While developed and developing countries issued record sums of debt in the years after the financial crisis, Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates used the vast oil wealth to propel themselves to affluence. The states — members of the six-country Gulf co-operation council — built skyscrapers, schools and motorways […]
ASTANA: Russia and regional powers Turkey and Iran backed a shaky truce between Syria’s warring parties on Tuesday and agreed to monitor its compliance, but on the ground fighters faced continued fighting on two fronts which could undermine the deal.After two days of deliberations in Astana, Kazakhstan’s Foreign Minister Kairat Abdrakhmanov said the powers had agreed in a final communique to establish a system “to observe and […]
Having abandoned its venture to lend out roughly $1 billion to legacy Taxi “Medallion” drivers and businesses some two years ago, and shifting its backing over to Uber resulting in many unhappy drivers as well as a handful of lawsuits, Capital One has nonetheless provided a useful spotlight into the troubled state of the traditional “yellow cab” industry by breaking out the details of its runoff commercial […]
Despite the supposed cease-fire agreement, new clashes were reported in Wadi Barada, a besieged rebel-held area and source for most of the drinking water for Damascus, the Syrian capital. Water supplies have been cut off for weeks, and the government and rebel sides have blamed each other. Continue reading the main story The agreement among Iran, Russia and Turkey was announced a day after the Syrian factions […]
By John Irish and Andrew Osborn | ASTANA/MOSCOW ASTANA/MOSCOW Peace talks between the Syrian government and opposition in Kazakhstan were a coup for their international sponsors, but exposed the limits of what Russia, Turkey and Iran can achieve in their efforts to resolve the six-year-old war. It was the first time in nine months the two sides had come together, albeit briefly and unhappily, and the first […]
Of the many quandaries investors must grapple with this year, high on their list is Donald Trump’s relationship with Vladimir Putin. Not far behind is this — should they throw off their instinctive caution about Russia and its president, and push the rouble a lot higher? The turnround in the Russian rouble’s fortunes largely reflects the recovery in the price of oil, the country’s biggest export. That […]
Via GEFIRA, US-centric media are reporting that Japan has become the biggest holder of the US treasuries, surpassing China last month. However, this is true only in regard to single countries. If we consider the European Union member states collectively, then they appear to be the biggest holder of the US treasuries. It has been so almost one year long. Unfortunately, the EU’s holdings are artificially overstated […]
ABU DHABI // Residents of the capital woke up to rain on Tuesday morning as the country’s prayers were answered. Thunderstorms and strong winds causing blowing dust have been forecast for southeastern areas of the country with Al Ain most likely to experience regular, thundery showers throughout the day. Abu Dhabi could also catch a heavy shower later in the day with road users urged to plan […]
By Denis Dyomkin and John Irish | ASTANA ASTANA Syria’s warring sides met for their first talks in nine months on Monday, with their Russian and Turkish backers pushing to cement a ceasefire that could pave the way for political talks. The meeting in the Kazakh capital comes at a time when Turkey, which backs the rebels, and Russia, which supports Syrian President Bashar al-Assad, each want […]
ASTANA, KAZAKHSTAN: Syrian opposition vowed Monday to keep fighting if the peace talks fail with the war-torn country’s government in Kazakhstan, as the two sides opened indirect negotiations.The talks had been billed as the first time armed opposition groups would negotiate directly with President Bashar Assad’s regime since the conflict erupted in 2011.“If the negotiations succeed, then we are with the negotiations,” opposition spokesman Osama Abu Zeid […]
By Luke Baker and Matt Spetalnick | JERUSALEM/WASHINGTON JERUSALEM/WASHINGTON During the presidential campaign, Donald Trump’s team spoke often about moving the U.S. embassy in Israel from Tel Aviv to Jerusalem. But since taking office, the contentious issue has become more nuanced and may already be moving to the backburner. In a statement issued before a first post-inauguration phone call between Trump and Israeli Prime Minister Benjamin Netanyahu […]
23 January 2017 Foursan Group, a leading Middle Eastern private equity firm, announced today the successful exit by its fund, Foursan Capital Partners (“FCP”), of its investment in Jordan Dubai Islamic Bank (“JDIB”), a premier Islamic banking institution listed on the Amman Stock Exchange. FCP was the second largest shareholder of JDIB and sold its stake to Bank Al-Etihad, a leading, publicly-listed financial services institution, realizing a […]
Generali, Italy’s largest insurer, has bought voting rights amounting to 3.01 per cent in Intesa Sanpaolo in a defensive move designed to block a mooted takeover bid by the country’s largest bank. The move came after shares in the insurer rose nearly 4 per cent on Monday following a report in Turin-based newspaper La Stampa suggesting Intesa was considering a takeover bid in tandem with Germany’s Allianz. […]
The lead government negotiator, Bashar al-Jaafari, speaking to reporters after the opening session, responded by calling the opposition delegation “armed terrorist groups,” and accused them of “impertinent” and “provocative” behavior. Continue reading the main story The tension demonstrated the challenges that remain for Russia, the Syrian government’s most powerful backer, as the Russian government tries to show its approach can accomplish more than the largely fruitless efforts […]
At the 2009 Summit of the Americas in Trinidad and Tobago, I recall a strong feeling of shame as I waited for then-Prime minister Stephen Harper and former President Barack Obama to emerge from a meeting. I was the designated pool reporter with The Canadian Press, killing time with my Associated Press counterpart. I sheepishly admitted that reporters were forbidden from asking the prime minister an unscheduled […]
