In early 2009, roughly at the time when this blog was launched which coincided with the start of the greatest monetary experiment of all time, we warned that there are two ways it will end: either in hyperinflation, or a deflationary supernova, the failure of currency and, eventually, barter. Now, almost 8 years later, some of the world’s top hedge funds are in agreement, and they are […]
newslide Taylor Swift and Zayn Malik debut new duet on film soundtrack American pop star Taylor Swift and former One Direction member Zayn Malik released a surprise duet on Friday, December 9 after joining forces for the upcoming Fifty Shades Darker movie soundtrack. I Don’t Wanna Live Forever will feature in the sequel to the Fifty Shades of Grey film, based on the hugely successful trilogy by […]
Yahya Jammeh, the eccentric and capricious ruler of Gambia for the past 22 years, has reversed his decision to accept defeat in last week’s elections, saying he will call a fresh poll. He alleged voter irregularities and called for new “transparent” elections to be held by a “god-fearing” electoral commission, presumably not overseen by the same official that declared results a week ago. Speaking on Friday night, […]
Strong competition will continue in Saudi Arabia’s construction sector due to extensive cuts in capital expenditure, forcing continued downward pressure on contractors margins, according to a new report. Property consultancy Colliers International said the decline in construction costs in the Gulf kingdom is set to ease, but “tough” market conditions will prevail. Construction costs have plummeted since the oil-price crash began in 2014, which led to a […]
SYDNEY The Solomon Islands plans to dispatch emergency supplies to areas affected by a 6.9 magnitude aftershock on Saturday, a day after a much larger tremor triggered a tsunami warning that send hundreds of coastal people fleeing into the hills. General Secretary of the Solomon Islands Red Cross Joanne Zoleveke said the supply boat could take almost 24 hours to reach Makira Island, which lies close to […]
Submitted by Nomi Prins via TomDispatch.com, Given his cabinet picks so far, it’s reasonable to assume that The Donald finds hanging out with anyone who isn’t a billionaire (or at least a multimillionaire) a drag. What would there be to talk about if you left the Machiavellian class and its exploits for the company of the sort of normal folk you can rouse at a rally? It’s […]
Global investors are turning their backs on French government bonds, reflecting alarm over the capacity for next year’s presidential election to deliver another shock to the eurozone and financial markets. A pronounced drop in French sovereign bond prices suggests they are being treated less like those of a core European economy and more like securities issued by the region’s least creditworthy countries. The selling has pushed the […]
Update, Dec. 9, 2016, 2:22 p.m.: This story has been updated. Donald Trump routinely blasts his political foes for “pay-to-play” politics and “crony capitalism and corruption.” But Trump is now rewarding some of his biggest campaign bankrollers with unparalleled access, influence, prestige and power in his presidential administration-in-waiting, according to a Center for Public Integrity analysis of new campaign finance disclosures filed with the Federal Election Commission. In […]
Submitted by Steven Horowtiz via The Foundation for Economic Education, The headlines tell us that the Dow Jones is up around 1,000 points since Donald Trump won the election on November 8th. The conventional wisdom is that this shows how much confidence people have in Trump’s ability to generate a healthy American economy. The argument is that if people are willing to buy stock in American firms, […]
Your daily guide to community and cultural activities across the Emirates for December 10, 2016, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. newslide Abu Dhabi Film screenings Enjoy two films as part of the Cinema Space screenings at Manarat Al Saadiyat. Tales of the Night is a 2011 family-friendly animated film by Michel Ocelot that tells six […]
Sharjah Commerce and Tourism Development Authority (SCTDA) is targeting the arrival of 200,000 Chinese visitors to the emirate by 2021. Khalid Jasim Al Midfa, chairman of SCTDA, said that China is a major international source market for tourism and commerce. Hotels in Sharjah welcomed more than 75,000 Chinese visitors during the first three quarters of 2016, a 75 percent year on year growth, he said. “Through taking […]
It is a story of the markets against the US Federal Reserve — and so far, the markets have been on the right side of the call. Bond market movements have this year proved a better guide to potential shifts in benchmark rates than has the Fed’s official range of projections. But as Donald Trump prepares to take power amid expectations that the Fed will next week […]
By Warren Strobel, Yara Bayoumy and John Irish | WASHINGTON/PARIS WASHINGTON/PARIS Key U.S. allies in Europe are quietly expressing concern over President-elect Donald Trump’s approach to Syria, warning that his pledge to work more closely with Russia, Damascus’ main backer, will do little to diminish the terrorist threat emanating from Syria. The diplomatic persuasion campaign has taken on new importance in recent days as the Syrian army, […]
New research has uncovered large differences between the understanding, attitudes and engagement of UAE investors with different nationalities. The report, carried out by financial solutions provider, Old Mutual International, and investment management firm, Quilter Cheviot, identified UK expats as the most risk averse while non-resident Indians (NRIs) were the most informed on their investment portfolios. The research found that 48 percent of UK expats in the UAE […]
09 December 2016 MARC has affirmed its AAA(bg) and AAA(fg) ratings on Premier Merchandise Sdn Bhd’s (Premier Merchandise) RM300 million 7-year Medium-Term Notes (MTN) Programme (Tranche 1) and RM300 million 9-year MTN Programme (Tranche 2) respectively with a stable outlook. Tranche 1 and Tranche 2 are guaranteed by Malayan Banking Berhad (Maybank) and Danajamin Nasional Berhad (Danajamin) respectively, and the ratings reflect the credit strength of the […]
An upcoming deadline for a major derivatives market reform is “unrealistic” and authorities should consider whether the asset managers and banks most affected are ready, a top US regulator has warned. Christopher Giancarlo, the sole Republican of the three commissioners at the Commodity Futures Trading Commission, on Friday called on counterparts to prevent new rules due on March 1 from disrupting the global swaps market. His remarks, […]
Japanese electronic parts maker TDK Corp is in talks to acquire InvenSense Inc, a U.S. chip maker that produces motion sensors for Apple Inc and Samsung Electronics Co, people familiar with the matter said on Friday. The deal would allow TDK, already a major smartphone components supplier, to boost its sensor technology offerings. InvenSense designs gyroscopes which help smartphones calculate motion, enabling augmented reality games such as […]
The European Central Bank’s supervisory arm has rejected a request from Rome to delay a private sector-led rescue for Monte dei Paschi di Siena, leaving Italy little option but to inject state funds and impose losses on creditors. MPS asked the ECB for an extra five weeks to pull off a last-ditch €5bn equity injection for the lender, which emerged as the weakest in the European bank […]
Good morning. Regrets laced with irony Glenn Beck is sorry. He really is. He swears. He’s sort of like Miss Otis in Cole Porter’s oft-recorded 1934 “Miss Otis Regrets” (I’ll take Bette Midler’s version). She “woke up and found that her dream of love was gone, madam.” And, them, “from under her velvet gown, she drew a gun and shot her lover down, madam.” In this case, […]
TUNIS Libyan forces are trying to secure the city of Sirte after ousting Islamic State from its former North African stronghold in a battle that lasted nearly seven months. Here are some facts about Islamic State in Libya: ORIGINS Islamic State drew on existing pockets of militancy in Libya, establishing its first major presence in Derna, an eastern city with a strong Islamist tradition. It also profited […]
December 9, 2016 by: Lauren Fedor and Katie Martin in London Irish fruit distributor Fyffes has agreed to a takeover by a subsidiary of Sumitomo, a deal that will value the London-listed company at €751m and allow the Japanese conglomerate to dramatically expand its European food business. The two companies said on Friday that Swordus Ireland Holding, a wholly-owned subsidiary of Sumitomo, would acquire the entire share […]
In 2011, as skincare brand Nivea marked its centenary with a string of parties across the world, Indian billionaire BR Shetty hosted his own private celebration in his extraordinary apartment in Dubai’s Burj Khalifa. No humble pied-à-terre, this pad occupies the entire 100th floor of the tallest building in the world — not bad for the former pharmaceutical salesman, who was one of the first people to […]
By Praveen Menon | KUALA LUMPUR KUALA LUMPUR Malaysian Prime Minister Najib Razak’s stern rebuke to Myanmar for a military-led crackdown on Muslim Rohingyas was a rarity among Southeast Asian nations, who adhere to a policy of non-interference in each other’s domestic affairs. Critics saw the beleaguered Najib reaching for the moral high ground with his criticism over the weekend of Myanmar in order to pander to […]
Friday 06:00 GMT Overview Markets across Asia were mostly higher as investors reflected on record highs for Wall Street and the European Central Bank’s decision to tweak its asset purchase programme. European bourses are expected to open little changed, with spreadbetters predicting the UK’s FTSE 100 will be flat at 6,932 and Germany’s Dax to add 7 points to 11,186. US index futures suggest the S&P 500 […]
