ISLAMABAD None of the dozens of people on board a Pakistan International Airlines (PIAa.KA) aircraft that crashed into a mountain in northern Pakistan on Wednesday survived the accident, the airline’s chairman said. “There are no survivors, no one has survived,” Muhammad Azam Saigol told a press conference late on Wednesday, about five hours after flight PK661 from Chitral to the capital, Islamabad, crashed near the town of […]
Matteo Renzi will resign as Italian prime minister on Wednesday evening, bringing an end to nearly three years in office after he suffered a stinging defeat in a referendum on his flagship constitutional reforms. Mr Renzi announced his resignation on Twitter and his departure will be formalised with a visit to Sergio Mattarella, the Italian president, at 7pm on Wednesday. On Thursday, Mr Mattarella is expected to […]
But in an era of internet hoaxes, fabrications and the increased use of fake news around the world to further political agendas, Bana’s Twitter account has also raised some questions of veracity and authenticity. Continue reading the main story Her messages are sophisticated for a 7-year-old, for example, particularly for one whose native language is not English. This is my reading place where I wanted to start […]
Saudi Aramco’s planned flotation is unlikely to require any major changes to Saudia Arabia’s securities rules, the vice chairman of the kingdom’s market regulator said. The kingdom’s state oil giant is targeting 2018 for what is expected to be the world’s biggest ever initial public offering, with a listing on both its home exchange and a foreign market among the options being discussed. The move is part […]
Dubai aims to become the seventh leading maritime capital of the world by 2020 ahead of London, New York, Tokyo, Copenhagen, and Rio de Janeiro The UAE is first WTO member from the Arab region to ratify the new Trade Facilitation Agreement (TFA) in April 2016 07 December 2016Dubai aims to become the seventh leading maritime capital of the world by 2020 ahead of London, New […]
BEIRUT A Syrian military source said Israeli rockets hit around the Mezzeh military airport near the Syrian capital Damascus at around 3 a.m. on Wednesday. The source said the ground-to-ground rockets caused a fire but no injuries. The Israeli military did not comment on the report. (Reporting by Lisa Barrington in Beirut and Maayan Lubell in Jerusalem; Editing by Catherine Evans) ‘); $(‘.second-article-divide’).append($(‘.slider.slider-module’)); $(‘.third-article-divide’).append(”); var median = […]
Samsung is only a few months away from unveiling the Galaxy S8 to the world. The smartphone will reportedly ditch the 3.5mm headphone jack and drop its physical home button for a fingerprint scanner embedded into its new RGB Super AMOLED Quad HD display. Apple and Samsung dominate the smartphone market and both companies have taken inspiration from each other over the years. Most recently Apple added […]
Trafigura, one of the world’s largest commodity traders, has announced a 12 per cent decline in annual profits as challenging market conditions curbed money-making opportunities and it was forced to write down the value of port and rail assets. In the year to September, net profit was $975m, down from just over $1.1bn in 2015 which was a record year for trading the Geneva-based company. In spite […]
AL MUKALLA, Yemen — A ship carrying almost 60 people off the coast of Yemen is believed to have capsized in high seas, a Yemeni official said on Tuesday. “Four passengers have been rescued by Spanish and Yemeni commercial ships that we were sailing in the area, and we are still looking for survivors,” said the official, Fahd Kafayen, the minister of fisheries. The boat set sail […]
By Beth Pinsker | NEW YORK NEW YORK Want to save a few quick bucks on your holiday shopping? Your credit card may offer some little-known perks that could save you money both upfront and after the purchase. Of the 100 most popular credit cards, 81 offered some kind of extended warranty, according to a study released on Wednesday from Creditcards.com, a card rating website run by […]
Qatar Airways on Tuesday announced that it will offer daily non-stop flights between Doha and Dublin, the capital of the Ireland. Qatar Airways Group CEO Akbar Al Baker said the airline will operate a Boeing 787 Dreamliner on the route which will launch on June 12, 2017. He said: “Qatar Airways has seen unprecedented growth in recent times and continues to launch new destinations on our global […]
Picture it: rumours of a renminbi devaluation keep growing. Residents rush to open accounts offshore as experts warn Beijing will get off on the wrong foot with a relatively new US administration if a big depreciation happens. Official denials are made regularly — until a devaluation of about 50 per cent follows in short order. That was China in 1994. Today the idea of a similarly brutal, […]
December 6, 2016 by: Mark Wiedman and Richie Prager This is part of a series on the global rise of exchange traded funds How do you buy or sell bonds if the middleman is not there any more? As any bond investor will tell you, buying or selling bonds is harder and more costly than in long memory. Since the crisis, regulators have squeezed the investment bank […]
BEIRUT, Lebanon — A court in Saudi Arabia sentenced 15 men to death on Tuesday for spying on behalf of Iran, after a trial that a Western human rights organization characterized as a “travesty of justice.” The sentences came as the sectarian and political rivalry between Saudi Arabia and Iran is fueling conflicts across the Middle East, including in Iraq, Syria and Yemen. Both Saudi Arabia, a […]
ABU DHABI // The UAE Space Agency issued the Arab world’s first national space policy in the capital on Tuesday – the first step to formulating laws for the industry. “The policy is just like a torch guiding us to where we have to go,” said Dr Mohammed Al Ahbabi, the agency’s director general. “Our space laws will have elements designed for tomorrow’s technologies and industries, such […]
A Turkish-Arab fund plans to spend up to about 300 million euros ($322 million) to redevelop a luxury seaside resort outside Greece’s capital Athens, bringing significant foreign investment into the cash-strapped country, the fund said on Tuesday. Greece concluded in October the sale of a 90 percent stake in the Astir Palace hotel complex to the Jermyn Street Real Estate Fund as part of a key privatisation […]
DUBAI An investigative body set up by the Saudi-led coalition fighting in Yemen said on Tuesday it should apologise for a deadly attack on a Medecins Sans Frontieres (MSF) hospital in August that the group said killed 11 people. But the Joint Group to Assess Incidents found the coalition was not responsible for or had legitimately targeted fighters in four other incidents that rights groups blamed on […]
A man holds up his mobile phone showing a M-Pesa mobile money transaction page for the photographer at an open air market in Kibera in Kenya’s capital Nairobi (Reuters/Noor Khamis). This post features a conversation with Georgia Levenson Keohane, executive director of the Pershing Square Foundation, adjunct professor of social enterprise at Columbia Business School, and author of Capital and the Common Good: How Innovative Finance is […]
Hedge fund manager Pierre Andurand has returned almost 15 per cent this year by betting on a recovery in oil prices and he forecasts the rally has further to run after Opec’s agreement last week to cut supplies. The French founder of Andurand Capital, which has grown to be one of the world’s largest oil funds, returned 6.1 per cent in November as he positioned for crude’s […]
NEW DELHI—Jayaram Jayalalithaa, the powerful chief minister of the state of Tamil Nadu whose fervent following was matched by few other Indian politicians, died late Monday after she failed to recover from cardiac arrest. The daughter of an actress in Tamil-language films, Ms. Jayalalithaa’s first career was in show business. She was featured in more than 100 movies, which catapulted her to fame before she turned to the political arena […]
The petrochemical sector helped carry Saudi Arabia’s stock market to a fresh one-year closing high on Tuesday after crude oil prices hit a 17-month peak. The main Saudi index added 0.7 percent to 7,155 points in extremely heavy turnover with gainers outnumbering losers 139 to 18. The index is now up 3.5 percent year-to-date. The petrochemical sector stayed strong; it has been contributing to the market’s positive […]
Several European companies in China have been unable to remit dividends abroad following new exchange controls, in the first confirmation that a complicated approval process for making payments out of China is having a wider impact than first indicated. The EU Chamber of Commerce in Beijing said the payment difficulties experienced by EU companies were “disruptive to business operations”. The measures, introduced on November 28, appear designed […]
06 December 2016 Saxo Bank, the online multi-asset trading and investment specialist, today announces that it is launching a combination order ticket for all clients trading contract options. The combination order ticket will enable clients to deploy multi-legged option strategies by simultaneously placing orders to buy and/or sell different options from the same order ticket. Georgio Stoev, Futures and Listed Options Product Manager, said: “Instead of trading […]
If you set out to make a positive investment case for Italy 20 years ago, the best hope was to play down the myriad structural inefficiencies that blighted the corporate sector and argue that this was a good economy burdened by an unworkable state. Now, after years of no growth accompanied by stubbornly high public debt, a positive case looks even harder to make, especially after the […]
