ABU DHABI // Firework displays lit up the capital’s skies as Emiratis and expatriates came together on Friday to enjoy the National Day celebrations. People poured into the streets to take in the festive atmosphere and show their love for the country, while vehicles were plastered in the colours of the UAE flag and portraits of the leaders. Crowds gathered on the beach and the parks that […]
Dining in the dark Eating without looking first hit the culinary scene in 1999 when a blind man in Switzerland opened Blindekuh in Zurich, the world’s first restaurant where diners ate their meals in the dark. Usually, eating is an act that involves all the senses. When you lose one of the most important ones – sight – the others are heightened, leading to an extraordinary dining […]
Opec’s production cut this week to bolster oil prices may strike many as a throwback to an earlier era, but it hinged on a very modern method of communication: a messaging group between the smartphones of Saudi Arabia’s delegation in Vienna and Prince Mohammed bin Salman al-Saud. For a royal priding himself on being a tech savvy moderniser in the kingdom, the use of a popular encrypted messaging service may […]
BEIJING The chairman of China’s securities regulator condemned “barbaric” leveraged company buy-outs by some asset managers using illegal funds, according to a statement posted on the China Securities Regulatory Commission (CSRC) website on Saturday. “You’ve ultimately become a robber in the industry, and that is unacceptable,” CSRC chairman Liu Shiyu said during his strong-worded speech at a meeting held by the Asset Management Association of China. Liu […]
Successful SMEs set to become part of the supply chain for Qatar Shell and Pearl GTL 03 December 2016 Doha: As part of a nationwide strategy to support Qatari small and medium-sized enterprises (SMEs), Qatar Development Bank (QDB) and Qatar Shell will award contracts for five business opportunities; four will be awarded at a special ceremony on 5th December, and a fifth contract will be signed and announced […]
All of a sudden, it’s executive pay time. Here is The Purposeful Company, the product of a steering group of seven grandees, a task force of nine more, plus a dozen contributors, together demonstrating that those getting today’s executive pay have nothing useful to say on the subject, as Neil Austin forcefully pointed out on our letters page this week. This followed an earlier suggestion that incoming […]
Europe’s financial markets are bracing for Italy to reject the government’s constitutional reforms in Sunday’s referendum, with investors warning that an emphatic No vote risks a sharp sell-off in Italian assets. Although there has not been panic ahead of the vote, there are signs of some nerves among money managers and traders whose attention in recent weeks has been dominated by the reflation trade unleashed by Donald […]
SANA, Yemen — The Houthi movement and its allies formed a new government in Yemen on Monday, a surprise that angered their Saudi-backed rivals and complicated United Nations efforts to end a conflict that has ravaged the Arab world’s poorest country for much of the past two years. The announcement of the new government, reported by the Houthi-run state television and Saba news agency, said it was […]
Private equity firm Gulf Capital plans to sell some of its investments towards the end of 2017 and early 2018 as market sentiment and the regional economy improve, its chief executive told Reuters. Karim El Solh declined to say which stakes the Abu Dhabi-based company, one of the biggest private equity firms in the region, was considering offloading but said that they would be appealing to global […]
BEIJING China’s Foreign Ministry has expressed concern after Yemen’s armed Houthi movement and its political allies formed a new government, in what appeared a blow to U.N.-backed efforts to end 20 months of war in the country. Diplomats had hoped the Houthis, who control the capital Sanaa, would hold off on putting together a cabinet of their loyalists and instead form a unity government with their Yemeni […]
This week was full of Big Data news, including new releases, a brand new product, a new acquisition and an update to one of the major Hadoop distros. Let’s get a survey of what was announced and then see if we can’t draw a conclusion or two. A big driver for much of the news was this week’s Amazon Web Services re:Invent conference, providing an opportunity for […]
01 December 2016 Securities Commission Malaysia (SC) today signed a Memorandum of Understanding (MoU) with MIMOS, the country’s research and development centre in ICT, to jointly develop a capital market advanced analytics platform. By collaborating with MIMOS, SC will be able to leverage new technology to process a higher volume of data from a variety of sources beyond the traditional data sets, facilitate the usage of RegTech […]
At a conference on investing in non-performing loans in Milan last week, attendees were asked to vote on whether an Italian government scheme to help sell the debt was the “best way forward”. Just 3 per cent agreed. The response follows a year of wrangling over proposals to tackle the €360bn of problematic loans plaguing the balance sheets of Italian banks, which have lost half their stock […]
By Chiekh Sadibou Mane and Thierry Gouegnon | BANJUL BANJUL Gambian leader Yahya Jammeh, who once vowed to rule the tiny West African nation for “a billion years”, said he had accepted his shock election defeat on Friday, 22 years after seizing power in a coup. Voting on Thursday against Jammeh was a rare show of defiance against a leader who has ruled by decree and who […]
Starbucks Chief Executive Howard Schultz’s decision to step down is unlikely to hamper growth at the world’s biggest coffee chain as his successor Kevin Johnson is well suited to take the helm, analysts said. Starbucks Corp (SBUX.O) said on Thursday that Schultz would step down as CEO on April 3 to focus on new high-end coffee shops, handing the top job to Chief Operating Officer Johnson, a […]
Donald Trump has named Stephen Schwarzman, chief executive of Blackstone, as chairman of a new council of strategic advisers, capping a week that has seen Wall Street veterans installed at the heart of the incoming US administration. The president’s strategic and policy forum, which will meet for the first time in February, also includes JPMorgan Chase chief executive Jamie Dimon and Larry Fink, founder of BlackRock, among […]
Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke. During the past year, the Chinese yuan (CNY) has shed a bit more than 7 percent of its value against the greenback. That’s only one aspect of the CNY’s weakness. Another concerns the quality of the CNY. As Jerry Jordan pointed out recently at the Cato Institute’s 34th Annual Monetary Conference, a […]
An ice storm, an email suggesting regime change and the mechanics of thinly traded futures markets have emerged as central points of contention in the market manipulation trial of one of the world’s biggest traders in financial derivatives. Donald Wilson and DRW, the trading group he leads from Chicago, are fighting civil charges they distorted the price of an interest rate futures contract. They went on trial […]
Home» Pakistan » General News Friday, 02 December 2016 21:57 Posted by Fawad Maqsood ISLAMABAD: Minister of State for Capital Administration and Development Division Dr Tariq Fazal Chaudhry Friday said Pakistan Tehreek-e-Insaf (PTI) had not presented any evidence before the Supreme Court (SC) regarding Panama Papers case. Talking to a private TV channel, he said PTI […]
ABU DHABI // “Building nations is not complete without safeguarding heritage,” Sheikh Hazza bin Zayed told the Safeguarding Cultural Heritage Conference in the capital on Friday. The deputy chairman of Abu Dhabi Executive Council was addressing the first day of the conference, where attendees heard reports of past atrocities as a prompt to forging meaningful outcomes for the future. The conference concludes Saturday, with the adoption of […]
Eight new rural solar energy projects are now operational across the Islamic Republic of Mauritania in western North Africa, doubling the UAE’s total contribution to the country’s clean energy capacity to 31.6 megawatts (MW). Delivered by Masdar, the Abu Dhabi clean energy company, the 16.6MW of additional solar power will supply up to 30 percent of the electricity demand of the remote communities of Boutilimit, Aleg, Aioune, […]
By Amr Abdallah Dalsh | SHIBIN EL KOM, Egypt SHIBIN EL KOM, Egypt Mohamed Hagras stands barechested as dozens of honeybees congregate around his face, eventually forming what he calls the “Beard of Bees”. To attract the insects he has a box housing their queen’s hormones strapped to his chin. The 31-year-old engineer-turned-beekeeper has been doing this for years both competitively – he fondly recalls a Canadian […]
December 2, 2016 by: Maggie Fick, West Africa correspondent Voters in the tiny nation of Gambia appear to have unseated their president of more than two decades, who had pledged to rule for “a billion years”, an unexpected result after a year of elections that have cast doubt on the state of democracy in Africa. The Gambian electoral commission on Friday declared that Adama Barrow, the main […]
By Ahmed Elumami | TRIPOLI TRIPOLI Rival armed factions battled overnight and into Friday in the worst outbreak of fighting in the Libyan capital Tripoli for more than a year. Black smoke rose into the sky and explosions reverberated around the Abu Salim and Hadba districts, and an eyewitness said a major road nearby had been blocked off with shipping containers. Gunfire echoed across several other neighbourhoods. […]
