By Se Young Lee and Ju-min Park | SEOUL SEOUL South Korea’s liberal leader Moon Jae-in will take the oath of office as president on Wednesday, tasked with navigating the country out of rising geopolitical tensions over North Korea’s nuclear programme and the risk of a rift with the United States. Moon, 64, is expected to announce major cabinet and presidential staff appointments as early as Wednesday […]
By Giulia Segreti | MILAN MILAN Former U.S. President Barack Obama said on Tuesday he was confident that the United States would keep moving “in the right direction” on climate change, although the process might slow down under the current administration. Before taking office, President Donald Trump pledged to cancel a deal signed by nearly 200 countries in Paris in 2015, which aims to limit rising temperatures […]
Back to normal, for now… South African stocks hit an 11-month high on Tuesday, as markets calm a month after the surprise ousting of the country’s finance minister, but analysts warned that political worries could rear their heads again soon. The FTSE/JSE All-Share index climbed 1 per cent today, hitting a high of 54,255, its highest level since June 2016. Bank stocks, which were particularly badly hit […]
BEIJING China’s military has conducted live-fire drills and weapons tests in the northeastern Bohai Sea close to the Korean peninsula, the country’s defence ministry said on Tuesday. In a brief statement late on Tuesday, the ministry said the tests of new missiles and weapons were carried out by the People’s Liberation Army’s Rocket Force “in recent days” and were designed to raise operational capability so as to […]
By Douglas Busvine | DHARAMSALA, India DHARAMSALA, India A U.S. Congressional delegation visited the Dalai Lama at his headquarters in India on Tuesday, seeking to draw world attention to human rights in Tibet as President Donald Trump eyes warmer ties with China. House Democratic Leader Nancy Pelosi flew with a bipartisan delegation to the Himalayan hill town where the 81-year-old Buddhist leader is based, on a trip […]
By Christine Kim and Jane Chung | SEOUL SEOUL South Koreans flocked to polling stations to elect a new leader on Tuesday, with a high turnout suggesting voters are eager to move on from a corruption scandal that brought down the former president and shook the political and business elite. Unless there is a major upset, liberal Moon Jae-in – who calls for a moderate approach on […]
Held under the patronage of His Highness Sheikh Mansour bin Zayed Al Nahyan Deputy Prime Minister, Minister of Presidential Affairs of the UAE 09 May 2017 Abu Dhabi, United Arab Emirates – Held under the patronage of His Highness Sheikh Mansour bin Zayed Al Nahyan Deputy Prime Minister, Minister of Presidential Affairs of the UAE, the 1st edition of ATech World Conference & Exhibition and World Game […]
Sign up to receive FirstFT by email here Days after Donald Trump was elected, President Barack Obama warned his successor against hiring former general Michael Flynn as his security adviser. Mr Trump ignored the advice and Mr Flynn resigned after 17 days on the job amid the growing investigation of the Trump team’s ties to Russia. This is just one of the revelations to emerge following a Senate […]
By Nichola Saminather | SINGAPORE SINGAPORE Asian stock markets edged down on Tuesday following a flat close on Wall Street, as investors searched for the next catalyst following France’s presidential election, while oil inched higher on expectations OPEC supply cuts will be extended. Financial spreadbetters expect Britain’s FTSE 100 .FTSE, Germany’s DAX .GDAXI and France’s CAC 40 .FCHI to all open flat. The South Korean stock market, […]
Your daily guide to community and cultural activities across the Emirates for May 9, 2017, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. Aarti Jhurani rounds up 10 things to do today in the UAE. Want to see your event listed here? Email us with the details and contact information at [email protected] newslide Abu Dhabi Workshop Get hands-on […]
Tuesday 02:50 BST Overview Stocks around Asia were mostly lower following a flat lead from Wall Street and as momentum after the French presidential election faded. Hot topic Emmanuel Macron, the independent centrist, was elected France’s president in the country’s election at the weekend, beating far-right candidate Marine Le Pen. Although Mr Macron’s victory was a cause for relief in markets and is seen as a broad […]
By Shu Zhang and Matthew Miller | BEIJING BEIJING A Chinese government campaign to cut leverage in the banking system and limit some risky activities appears to be working, but it is also pushing borrowers back towards alternative funding sources that carry similar risks to the financial system. First-quarter official data shows banks cut the amount they lent to and borrowed from other financial institutions by 1.4 […]
Zaha Hadid’s first project in Dubai is a work of art to rival any of the renowned Iraqi-born architect’s award-winning structures, and will add something very different to the city’s burgeoning collection of prestige buildings. In many ways, a visit to Dubai’s Business Bay feels like a trip back to the future – to a city that feels eerily familiar to anyone who can remember the giddy […]
The biannual OpenStack Summit opened with Jonathan Bryce, executive director of the OpenStack Foundation, saying “We’re a inflection point … We are moving into the second generation of the cloud.” And OpenStack is leading the way. What are these generations? The first generation was built on immature technologies that required expert architects, engineers, and developers. Only large technology companies, such as eBay and Yahoo, could implement them. […]
By Arshad Mohammed | NEW YORK NEW YORK Former U.S. Secretary of State Condoleezza Rice said on Monday she would prefer that President Donald Trump not criticise judges and the media but that U.S. democratic institutions can withstand such comments. Speaking in an interview, Rice also described Trump as having a somewhat “transactional” view of foreign relations but she broadly endorsed his approach of seeking to enlist […]
Cofco, China’s powerful state-controlled grains company, is set to appoint the former chief executive and deputy chair of agricultural trader Louis Dreyfus Company as a non-executive director for its international agricultural trading arm. Serge Schoen, who resigned from the LDC board last year, is poised to become one of Cofco International’s four non-executive directors on the company’s 10-person board. His appointment comes as questions have been raised […]
GENEVA There has been no new wave of killings prompted by the Philippines’ war on drugs, and reports to the contrary are “alternative facts”, an ally of President Rodrigo Duterte told the U.N. Human Rights Council on Monday. Duterte has received widespread condemnation in the West for failing to curtail the killings and address activists’ allegations of systematic, state-sponsored murders by police of drug users and dealers, […]
TAIPEI China should not politicize Taiwan’s participation in a U.N. health meeting, Taiwan health activists said on Monday, and China’s president should “do the right thing” and let the island attend for the benefit of global health. Self-ruled Taiwan wants to attend the May 22-31 annual meeting of the decision-making body of the World Health Organization (WHO) in Geneva, but has accused Beijing of obstructing its efforts […]
By Patricia Zengerle | WASHINGTON WASHINGTON Two officials in former President Barack Obama’s administration will testify on Monday in a Senate investigation into allegations of Russian meddling in the 2016 U.S. election and possible collusion between President Donald Trump’s campaign and Moscow. James Clapper, the Director of National Intelligence under Obama, and Sally Yates, who was Deputy Attorney General, will testify to the Senate Judiciary subcommittee on […]
By Muyu Xu and Ryan Woo | BEIJING BEIJING The Chinese capital is sanitizing its ancient hutong alleyways, home to millions of migrants workers and thousands of small businesses, bulldozing illegal constructions and forcing shops, bars and tiny courtyard restaurants to relocate or go under. As part of guidelines unveiled in April, authorities have started to brick in doors of properties along the narrow passageways, many of […]
Shipment volumes and market shares for the Chinese market. (Image: IDC) Chinese smartphone maker Huawei has overtaken Oppo as the number one smartphone seller in China for Q1 2017, research firm IDC has revealed. Of the total 103.1 million smartphones shipped to China during the first quarter, Huawei’s shipment volume reached 20.8 million units, a year-over-year increase of 25.5 percent, according to IDC’s Quarterly Mobile Phone Tracker. […]
Sign up to receive FirstFT by email here Emmanuel Macron, an independent centrist, won an emphatic victory in France’s presidential run-off against Marine Le Pen, the far-right Front National leader, on Sunday, taking 65.1 per cent of the vote, according to estimates. Mr Macron’s victory is a phenomenal achievement for the 39-year-old former Rothschild banker, who has never before held elected office and whose political movement En Marche! was […]
In a week that started with big oil and US shale producers trumpeting their ability to thrive in a world of $50 a barrel crude, the market had a very quick response: let’s see if you can do it at $45. A brutal sell-off across commodity markets this week has quickly taken the shine off strong first-quarter results that would otherwise have been viewed as a triumph […]
By John Ruwitch | SHANGHAI SHANGHAI Organisers barred journalists on Sunday from a publicly advertised event in Shanghai to attract Chinese investment in a U.S. real estate project linked to the family of President Donald Trump’s son-in-law in exchange for immigrant visas. The two-tower luxury apartment complex in New Jersey, One Journal Square, is being developed by KABR Group and the Kushner Companies, which until recently was […]
