Photo Syrians fleeing rebel-held parts of eastern Aleppo moved on Sunday toward an area controlled by Kurdish fighters. Credit Rumaf, via Associated Press BEIRUT, Lebanon — Thousands of people were sent fleeing for their lives on Monday as rebel fighters lost a large stretch of territory in the northern Syrian city of Aleppo to government forces and Kurdish fighters, in what could prove to be a turning […]
DUBAI, United Arab Emirates, November 28, 2016/ — The Ashish J Thakkar Global Entrepreneurship Index of 85 countries ranks Singapore as the best environment for entrepreneurs Of the African nations, Namibia scores highest and comes 42nd overall – ahead of other prominent African markets, such as Nigeria, Kenya and South Africa The research, conducted by Mara Foundation and Opinium Research, examines the state of entrepreneurship around the […]
Bail in risk – €4 Trillion Italian banking system at risk as referendum looms Sunday according to Financial Times Concerns of multiple bank failures – Eight banks at risk of failure and bail ins Monte dei Paschi di Siena, third largest by assets and mid-sized banks Popolare di Vicenza, Veneto Banca and Carige and four smaller banks Italy’s banks have €360 billion of problem loans Contagion poses risks to Unicredit, […]
Stop me if you think you’ve heard this one before. Italian bank stocks are being hit hard this morning, leading declines across European financials ahead of a key referendum on December 4 that could have major consequences for plans to revive Italy’s troubled financial system. UniCredit – Italy’s most systemically important bank – is the biggest loser, falling 4 per cent, while Banco Popolare, Banca Popolare di […]
DUBAI // The Awqaf and Minors Affairs Foundation has donated Dh1 million to the National Awqaf Foundation of Canada to help spread the teachings of Islam in Canada. The contribution, honouring the will of late foundation donor Ahmed Baghlaf, was divided into three parts: Dh500,000 for building schools that teach moderate Islamic values and principles; Dh250,000 to promote Islamic Da’wah; and Dh250,000 to support preachers. “These efforts […]
Given its enormity, India offers an array of local specialities. From clothing and gemstones to handicrafts and fabrics, every region has its own retail identity. One of the benefits of visiting Delhi, its capital city, is that it eloquently showcases a cross section of the country’s regional specialities, and over the past decade, the ancient city has grown rapidly beyond the exquisite and conventional to include whimsical […]
It’s laudable that Trump wants to bring factories back to USA. But how about virtual, monetary factories? Moving financial institutions such as banks, insurers, brokerage houses, exchanges, and other institutions brings the most bang for the buck when it comes to revitalizing America’s economy. As we explain in Splitting Pennies, even though money doesn’t exist, it’s the most important part of a healthy economy. The business climate […]
By Nelson Acosta and Ana Isabel Martinez | HAVANA HAVANA Cubans will begin massing on Havana’s Revolution Square from Monday for a week-long commemoration of Fidel Castro, the communist guerrilla leader who led a revolution in 1959 and ruled the Caribbean island for half a century. Castro died on Friday at the age of 90, a decade after stepping down due to poor health and ceding power […]
TOKYO Oil prices tumbled on Monday on fears that producer countries may fail to agree an output cut, pressuring U.S. stocks and the dollar as traders reversed their “Trumpflation” trade as weak oil prices would reduce pressure on U.S. interest rates to rise. That gave some relief to Asian shares, which had underperformed on worries about capital flight to higher-yielding U.S markets in the weeks since Donald […]
In these volatile times, gold is more important than ever. Bonner & Partners’ Bill Bonner explains in this two-part series, the importance of ‘real money’ and why you need it now… Many years ago, before the invention of modern money or capitalism, people still had wealth – although limited. And they still had ways of keeping track of it. The principle of “fair trade” seems to be […]
By Tom Westbrook | SYDNEY SYDNEY The ability of Australian telecoms company Telstra Corporation (TLS.AX) to offset the fall in its traditional revenue streams by diversifying into a range of technology and other businesses is in doubt. So far, Telstra’s funding of 44 startups since 2013, the A$235 million ($175 million) spent acquiring 18 health-related companies, the purchase of more than 30 companies by its venture-capital division, […]
November 27, 2016 by: Kiran Stacey in New Delhi and David Keohane in Mumbai Indian banks will have to deposit as cash all the extra money they have been given as a result of demonetisation with the Reserve Bank of India, the central bank announced this weekend. The RBI made its sudden move after the country’s banks, flush with cash, went on a bond-buying spree, bringing down […]
PRAGUE Czech humanitarian organisation Clovek v Tisni (People in Need, PIN) has been banned from the Doneck area in eastern Ukraine by separatist authorities, the aid group said in a statement. It said it was one of two international aid groups in the Doneck area, and was helping residents with water and food supplies as well as home repairs ahead of winter. “Local authorities have taken immediate […]
Riyadh, Saudi Arabia, 27 November 2016 Saudi Hollandi Bank, announced today that it has rebranded to Alawwal Bank. The name change marks the start of a transformation that will see the bank build on its reputation for innovation and service excellence. The new branding highlights the bank’s commitment to supporting the growth of the country’s economy while meeting the demands of its existing customers and a new […]
“We have lost everything, our infrastructure, and we have nothing left to lose,” he said. “Now it is a long war of attrition.” Photo A nonfunctioning cement factory in Amran, Yemen, that was bombed twice by the Saudi-led coalition. Credit Tyler Hicks/The New York Times The Houthis’ control of such key territory has made them essential to international efforts to end the conflict, leaving policy makers and […]
U.S., Peru seize $30 million in fake dollars, biggest bust ever | Reuters ‘+Reuters.inlinevideo.title+’ ‘+Reuters.inlinevideo.length+’ ‘); } WASHINGTON U.S. and Peruvian agents have seized a record $30 million in counterfeit dollars in the biggest netting of fake greenbacks ever by the U.S. Secret Service, the agency said on Thursday. The stash was discovered when more than 1,500 Peruvian police, along with Secret Service agents, carried out searches […]
When Ioan Gornic suddenly starts blasting out 1990s dance hit “No Limits”, the assembled group of about 20 European factory managers shift nervously in their seats and try to avoid eye contact. “Don’t worry, I’m not going to sing,” says the Shenzhen-based general manager for Zobele, an Italian maker of air freshener and insect repellent. “I just want to make the point that the only limits are […]
AMSTERDAM Royal Dutch Shell expects to pump out all the fossil fuel reserves listed on its balance sheet, its chief executive said, dismissing concerns that production limits in the wake of the Paris climate accord could hit the energy giant’s valuation. In an interview with Dutch newspaper Het Financieele Dagblad, Ben van Beurden said the issue of “stranded” reserves – deposits in the ground that cannot be […]
Your daily guide to community and cultural activities across the Emirates for November 27, 2016, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. newslide Abu Dhabi Art exhibition See No White Walls, featuring works created by professional artists in the UAE who have collaborated on an initiative to develop the art scene in Abu Dhabi by staging exhibitions […]
Saudi-based developer Cayan Group is set to announce the launch of a hotel apartments tower as part of its $272 million Cayan Cantara project in Dubai. The developer said in a statement that the hotel apartments tower will be managed and operated by a well-renowned hospitality giant, to be named later this month. The launch will represent the company’s first foray into the hospitality sector, it said. […]
ASTANA Kazakhstan’s parliament called on Wednesday for the capital city to be renamed after President Nursultan Nazarbayev, a week ahead of a national holiday dedicated to the 76-year-old leader who has the power to accept or reject the proposal. The unanimous vote in favour of renaming Astana adds to the growing personality cult around Nazarbayev who has run the Central Asian country since 1989. Last week, Kazakhstan’s […]
Istanbul, 24.11.2016 The Islamic Development Bank Group (IDBG) and Borsa Istanbul have signed a Memorandum of Understanding (MoU) to provide a general framework to facilitate cooperation and collaboration among the parties in fostering Islamic Finance in Turkey and other IDB Member Countries. The MoU was signed under the auspices of the President of Republic of Turkey, H.E. Recep Tayyep ERDOĞAN during the 32nd Ministerial Session of the […]
As mourners carried the coffin of a slain Hezbollah commander, they moved quickly to wipe away blood still dripping from his body — it had been washed in haste as it was rushed from the battlefields of Aleppo to its final resting place in Lebanon. While Russian war planes and bombs have dominated headlines about outside intervention in Syria’s five-year conflict, thousands of those fighting on the […]
By David French DUBAI, June 10 (Reuters) – Banque Saudi Fransi (BSF), the kingdom’s fourth-largest listed lender, will complete a 2 billion riyal ($533 million) capital-boosting sukuk issue by the end of this month, banking sources said on Tuesday. Pricing of the trade, which will boost the bank’s Tier 2 – or supplementary – capital, is at 140 basis points over the Saudi interbank offered rate (Saibor) […]
