Who could have possibly thought that a soaring dollar would have an adverse impact on the US trade deficit, and thus, the US economy. Well, not the Fed, if only for now, because just as the Fed hiked rates only for the second time in a decade, the US advance goods trade deficit soared from $61.9 billion to $65.3 billion, far higher than the consensus print of […]
BEIJING China has persuaded a fugitive suspected of graft to return home as part of “Operation Skynet” that seeks to capture corrupt officials who flee abroad, the top graft agency said on Thursday. Zhang Jun, the former general manager of Shanghai Sports Investment Management Co Ltd, fled to Australia in 2014 under suspicion of corruption, the Central Commission for Discipline Inspection (CCDI) said in a statement on […]
Photo The body of a 15-year-old girl at a makeshift morgue on Thursday in the rebel-held town of Douma, Syria, on the outskirts of Damascus, after reports of airstrikes. Credit Abd Doumany/Agence France-Presse — Getty Images MOSCOW — The Syrian government and its most important ally, Russia, announced on Thursday that they had reached a cease-fire agreement with Syrian rebels and with Turkey — a potential turning […]
M&A: back with a bang Deal activity was vigorous with much of it concentrated just below the level of the industry’s biggest companies. Nasdaq bought International Securities Exchange for $1.1bn, while CBOE Holdings announced a $3.2bn deal for Bats Global Markets in September. Of most significance, the pending €24bn tie-up between London’s LSE Group and Deutsche Börse, which will create Europe’s largest exchange. As the chart above […]
(Image: file photo) Legacy vendors and the cloud The cloud has devastated revenue, growth and margins of legacy vendors. Any CFO can look online to see what similar capacity, performance, and higher availability costs compared to the huge capital costs of traditional RAID arrays. 2016 saw the world’s largest independent storage company — EMC — bought by Dell, after shopping itself to all the big system vendors. […]
By Jamie McGeever | LONDON LONDON European shares, the dollar and bond yields fell on Thursday, with traders using the quiet holiday period to book some profit on the rise that had lifted all three to multi-year and in some cases record highs recently. Weakness in European financial stocks helped push broader indices into the red, extending the slippage after soft U.S. housing data the previous day. […]
Shares in Toshiba fell 17 per cent to ¥257 on Thursday, taking the total loss of equity value to more than 40 per cent since the Japanese company announced that it was facing a multibillion-dollar writedown at its US nuclear division Westinghouse. As investors continued to digest Tuesday’s warning, shares in some of Japan’s biggest banks slid after the electronics-to-nuclear conglomerate raised the prospect of losses on their […]
|By Arabian Post Staff| There is a greater national focus on achieving operational efficiency across sectors in the Middle East – and one notable area that stands to benefit immensely from embracing digitally-enabled solutions is utilities, Booz Allen Hamilton says in its energy trend forecasts for 2017. Change continues to be the defining feature of the global energy sector in 2017. In the oil and gas industry, […]
MANILA Philippine President Rodrigo Duterte has threatened corrupt government officials with the prospect of being thrown out of a helicopter mid-air, warning he has done it himself before and had no qualms about doing it again. The fiery-tempered former prosecutor said he once hurled a Chinese man suspected of rape and murder out of a helicopter. “If you are corrupt, I will fetch you using a helicopter […]
Two years ago, James Garstang, a brewer at the Kernel Brewery, one of London’s most popular microbreweries, was approached by a friend about an opportunity abroad. “He said: ‘If you are interested in some karma and curry, then I have a potential job for you,’” Mr Garstang recalls. Less than a month later, the Londoner was living and working in Gwalior, a midsized city in India five […]
KINSHASA A court in Democratic Republic of Congo sentenced a political opposition leader to five years in prison on Wednesday, a human rights advocate said, a judgment that risks imperiling multi-party talks meant to organise a presidential election next year. The court found Franck Diongo, president of the opposition MLP party, guilty of illegally detaining three soldiers during violent protests last week in the capital Kinshasa that […]
Updated December 29, 2016, 9:08 AM By Restituto Cayubit HILONGOS, Leyte – At least 32 persons watching an amateur boxing bout were injured in an explosion at the town plaza Wednesday night. HILONGOS, Leyte CREDIT: Google Maps, Manila Bulletin Leyte police provincial director Supt. Franco Simborio said out of the 32 injured, 16 were treated as outpatient while the remaining 16 were brought to various hospitals in […]
If there is one thing that unites Middle Eastern leaders these days, it is concern over what Donald Trump might do in 2017. A true political outsider, Trump will arrive in the White House next month with no track record and no political markers that might give an indication. The list of policy problems is certainly long, yet his list of policy ideas, as mooted during his […]
The way the Huskies’ schedule shapes up after Maryland, the Terrapins might be last in line with a serious chance to prevent a shattering of the record that even Auriemma did not believe to be achievable after Connecticut lost three players to the top three selections in last spring’s W.N.B.A. draft. Continue reading the main story But here they are, 11-0 through a formidable schedule that included […]
By Andreina Aponte | CARACAS CARACAS Roughly one person is being lynched in crisis-ridden Venezuela every three days as frustrated residents take revenge on suspected criminals, a monitoring group said on Wednesday. The Venezuelan Observatory of Violence (OVV), which monitors crime, said mob killings have become a generalized phenomenon across the country, with 126 deaths reported in 2016 versus 20 last year. “Due to being repeated victims […]
US secretary of state John Kerry delivered a stinging rebuke of the Israeli government on Wednesday, accusing it of making the establishment of a viable Palestinian state nearly impossible through the expansion of settlements in the occupied West Bank and East Jerusalem. With Israeli prime minister Benjamin Netanyahu joining forces with president-elect Donald Trump to attack the Obama administration, Mr Kerry said that the US allowed a […]
By Lesley Wroughton and Yeganeh Torbati | WASHINGTON WASHINGTON U.S. Secretary of State John Kerry warned on Wednesday that Israel’s building of settlements in occupied territory was endangering Middle East peace, expressing unusually frank frustration with the longtime American ally. In a swiftly issued statement, Israeli Prime Minister Benjamin Netanyahu accused Kerry of showing bias. He said Israel did not need to be lectured to by foreign […]
By Orhan Coskun and Ellen Francis | ANKARA/BEIRUT ANKARA/BEIRUT Turkey and Russia have prepared an agreement for a ceasefire in Syria, Turkey’s foreign minister said on Wednesday, adding that Ankara would not give up its opposition to President Bashar al-Assad staying on as leader. The five-year-old Syrian civil war raged on, with heavy casualties reported in the siege of a town held by Islamic State, and the […]
When Jack Ma criticised Hong Kong last month for having outdated stock market listing practices, the Alibaba founder hit the city where it hurts. Hong Kong’s rivalry with New York has only heightened since the billionaire chose the US for his ecommerce group’s initial public offering two years ago. And next year, the battle between the world’s two largest listing centres will only become more heated, as three […]
AMMAN Syria’s main rebel groups were discussing with Turkey a ceasefire proposal being negotiated with Russia but had rejected Moscow’s demand to exclude a rebel stronghold near the capital from any deal, a senior rebel official said on Wednesday. Munir al Sayal, the head of the political wing of Ahrar al Sham, whose group is involved in the talks with Turkey, said it was premature to talk […]
By Andrew Osborn and Orhan Coskun | MOSCOW/ANKARA MOSCOW/ANKARA Syria would be divided into informal zones of regional power influence and Bashar al-Assad would remain president for at least a few years under an outline deal between Russia, Turkey and Iran, sources say. Such a deal, which would allow regional autonomy within a federal structure controlled by Assad’s Alawite sect, is in its infancy, subject to change […]
By Se Young Lee and Stephen Nellis | SEJONG, South Korea/SAN FRANCISCO SEJONG, South Korea/SAN FRANCISCO South Korea’s antitrust regulator fined Qualcomm Inc (QCOM.O) 1.03 trillion won ($854 million) for what it called unfair business practices in patent licensing and modem chip sales, a decision the U.S. chipmaker said it will challenge in court. The fine, the largest ever levied in South Korea, marks the latest antitrust […]
When the direct trading link between stock markets in Shenzhen and Hong Kong opened this month, local dignitaries were easy to spot at the launch events. Less conspicuous were international investors ready to take advantage of what was billed as a big opportunity to buy into Chinese equities. The link offers foreign investors greater access to shares on the Shenzhen Stock Exchange, home to some of China’s up […]
By Makiko Yamazaki | TOKYO TOKYO A looming writedown at Japanese conglomerate Toshiba Corp has wiped almost $5 billion off its value in two days and prompted a credit rating downgrade on Wednesday, as the company grapples to plug a potential multi-billion dollar hole. Toshiba said late on Tuesday that cost overruns at a U.S. nuclear business it bought from Chicago Bridge & Iron last year, CB&I […]
