When a man goes bankrupt it happens in two ways: first gradually, then suddenly. Those who look to financial markets for meaningful information about the future must accept the risk that the market may be wrong. The problem for those who place their faith in its predictive powers is that — like the bankrupt described by Ernest Hemingway — when investors discover they are wrong they too […]
Downtown Damascus feels busy and alive, with people boarding vans and buses to get to work as in any other city. But the heavy traffic is partly a result of the security checkpoints that have proliferated. Continue reading the main story We were forbidden to photograph checkpoints, but they are ubiquitous. Our government-required minder alternately castigated, teased and charmed the soldiers and militiamen to speed our passage. […]
In the latest in a series of protests against the North Dakota oil pipeline project, overnight an estimated 400 protesters clashed with police who fired tear gas at the scene of a similar confrontation last month. The protesters mounted the Backwater Bridge and attempted to force their way past police in what the Morton County Sheriff’s Department initially described as an “ongoing riot.” Protesters say the pipeline […]
Rowan Companies Plc (RDC.N) said it was forming a joint venture with Saudi Arabian state oil giant Saudi Aramco to operate offshore drilling rigs in the country. Rowan said it would provide three jack-up rigs and Saudi Aramco two when the joint venture begins operations in the second quarter of 2017. Both companies would contribute $25 million as working capital, Rowan said in a regulatory filing on […]
Investors, central bankers and policymakers are once again talking about investing in infrastructure as a way to stimulate flagging economies around the world. If the zeitgeist is to be believed, 2017 will see a burst of infrastructure investment-related activity. It’s a good idea, but there is plenty of reason to suspect that little will happen. A big reason why infrastructure investment is back in vogue is that […]
The stars will to be out in full force for Abu Dhabi’s Grand Prix, not least because this year’s race is a championship decider. Which celebrities can we expect to see painting the town Ferrari-red this weekend? newslide Paris Hilton – and Nicole Richie? Not only is Richie’s dad Lionel Richie singing at Yas Arena on Saturday night, but her old ‘bestie’ Paris Hilton is DJing in […]
Theresa May has set out the terms of a new grand bargain with business, where the government invests to boost productivity and cuts corporation tax, in exchange for help tackling the worst excesses of capitalism. Setting out her business strategy, the UK prime minister proposes in the Financial Times a pact with corporate Britain to work together to defend capitalism, free markets and free trade from populist […]
Photo President Hassan Rouhani of Iran, center, at a welcome ceremony earlier this month in Karaj, just west of Tehran, has said that his country will remain committed to a nuclear deal with the United States and other world powers. Credit Office of the Iranian Presidency, via Associated Press TEHRAN — At first blush, the election of Donald J. Trump would seem to be bad news for […]
By Henning Gloystein | SINGAPORE SINGAPORE Oil prices rose around 1 percent on Monday as OPEC moved closer to an output cut to rein in oversupply that has pressured prices for over two years. Brent crude futures LCOc1 were trading at $47.31 per barrel at 0743 GMT, up 65 cents, or 0.96 percent, from their last settlement. U.S. West Texas Intermediate (WTI) CLc1 was up 0.9 percent, […]
Three Abu Dhabi banks denied they were in merger talks on Sunday, sending their share prices lower as investor hopes of a shake-up in the banking sector were dashed. Abu Dhabi Commercial Bank (ADCB), Union National Bank (UNB) and Abu Dhabi Islamic Bank in separate statements to the bourse each denied they were involved in merger plans. Shares in the lenders had been suspended earlier on Sunday […]
The Malaysian central bank’s moves to curb what it describes as “speculative and damaging” offshore trading in the ringgit are causing disquiet among investors and raising concerns about the regulator’s handling of the markets. Bank Negara Malaysia has asked foreign banks to commit to stop trading the ringgit — Asia’s worst-performing currency against the US dollar in 2015 — in the offshore non-deliverable forwards market. Malaysian debt […]
JEDDAH: Sporadic fighting shook parts of Yemen on Sunday as the Saudi-led Arab coalition battling Iran-backed Houthis warned that a fragile US-brokered cease-fire would not be extended unless violations ended. The 48-hour cease-fire, which began on Saturday, came at President Hadi’s request. An AFP correspondent in Sanaa said there had been no coalition airstrikes in the Houthi-occupied capital since the truce took effect.Coalition spokesman Maj. Gen. Ahmad […]
Five teams, comprising eight young scientists, were selected as finalists in the Genes In Space competition, which challenges pupils to design experiments to be conducted in space and encourages future talent for the industry. ABU DHABI // Eight UAE pupils are a step closer to contributing to the development of space travel after their experiments were chosen to be the final five in the Genes in Space […]
By David Henry | NEW YORK NEW YORK JPMorgan Chase & Co is once again facing questions about who will succeed its larger-than-life chief executive after Jamie Dimon was courted by the incoming U.S. president for the role of Treasury secretary. Dimon, 60, has been running the largest U.S. bank for more than a decade and has faced questions about his longevity in the role before: when […]
ABU DHABI// The European Union Delegation to the UAE has been officially opened in the capital. Dr Sultan Al Jaber, Minister of State, chairman of the board of directors of National Media Council, met with Federica Mogherini, High Representative of the European Union for Foreign Affairs and Security Policy and Vice-President of the Commission, at the inauguration ceremony at Etihad Towers. “The UAE is a country we […]
India’s government is taking a hardline stance over renewing a trade deal with the Netherlands just days before it expires, which European officials warn could undermine business ties with the rest of the EU. The bilateral investment treaty between the two countries will end on November 30 — the first in a succession of such agreements that New Delhi has decided to terminate as it looks for more […]
By Samuel Shen and John Ruwitch | SHANGHAI SHANGHAI Scores of Hong Kong-listed companies – many small – are on a roadshow blitz in China to whet the appetite of mainland investors ahead of the launch of a cross-border investment link between Shenzhen and Hong Kong. Mainland investors are enthusiastic, viewing the cross-border channel as a way to buy relatively cheap growth companies and hedge against a […]
Sixteen businesses in the capital are gearing up to prove they have the fittest employees, as part of the inaugural Abu Dhabi Dash relay challenge on Tuesday. The competition, organised by Interact and the Abu Dhabi Sports Council, features 10 teams of white-collar workers, who will run 15 kilometres at Zayed Sports City on Tuesday from 6.30pm. The teams feature a mix of nationalities and fitness levels, and […]
Mitt Romney, a former governor of Massachusetts and staunch critic of Donald Trump during the recent presidential campaign, left the clubhouse at Mr Trump’s New Jersey golf course with no announcement about whether he will join the new administration. Donald Trump is holding meetings with prospective members of his administration at his golf club in Bedminster, New Jersey this weekend. Mitt Romney, the Republican nominee for president […]
The organizers pressed ahead because holding the races near the large population of the Northeast corridor could pay dividends in revenue and attention. And if Killington’s gamble succeeds, it could set the stage for the region to become a fixture on the World Cup circuit. Continue reading the main story It is hardly a sure thing. Climate change has already troubled elite ski racing for several years […]
19 November 2016 Doha, Qatar: Commercial Bank, Qatar’s first private bank, is proud to announce it has won the “Best Cash Management Bank in Qatar” award at The Asian Banker Middle East & Africa Transaction Banking Awards 2016, held in Dubai. The Asian Banker is an authoritative provider of strategic business intelligence to the Asian financial services community. Judged by an international board of advisors, applicants were […]
ABU DHABI // A No 1 limited edition licence plate commemorating Abu Dhabi Government’s Golden Jubilee was sold to an Emirati for Dh31 million on Saturday at Emirates Palace hotel. The winning bidder for the coveted plate, Abdullah Al Mahri, 32, said he bought it in honour of the country’s Rulers, who worked tirelessly to make the UAE No 1 in the world. “I’m very proud to […]
Sunday’s Grand Prix race in Abu Dhabi will decide who wins the F1 championship – and Sean Paul is just as revved up for his upcoming performance on the Corniche. The Jamaican dance-hall king will headline on Friday, day two of the free Beats on the Beach festival – followed by a show at Mad nightclub on Yas Island the same night – and says he is […]
DUBAI // The second Innovation Week kicks off on Sunday with events taking place across the country. Launched last year by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, this year’s event aims to embed innovation in communities and is being held with the slogan “Innovation, an everyday activity”. “The UAE has become a global platform for innovation and innovators, attracting the best minds and […]
