Submitted by Nick Kaman of Letters from Norway Introduction: Norwegians are just now starting to grapple with the effects of their “single cylinder” economy, mostly dependent on oil and gas (ca. 60% of exports). Despite optimism about $50-$70/barrel oil, American crude output is surging, on track to be the highest ever, since 1970, while cracks start to form in OPEC’s latest agreement. In addition to the oil […]
By Meng Meng and Josephine Mason | BEIJING BEIJING China is considering forcing steel and aluminium producers to cut more output, banning coal in one of the country’s top ports and shutting some fertiliser and drug plants as Beijing intensifies its war on smog, a draft policy document shows. The Ministry of Environmental Protection (MEP) has proposed the measures in a draft policy document seen by Reuters. […]
SEOUL North Korea said on Monday it had successfully test-fired a new type of medium- to long-range ballistic missile a day earlier, claiming further advancement in a weapons programme it is pursuing in violation of United Nations resolutions. North Korea fired the ballistic missile on a high arc into the sea early on Sunday, the first test of U.S. President Donald Trump’s vow to get tough on […]
By Tetsushi Kajimoto and Stanley White | TOKYO TOKYO Japan’s economy grew for a fourth straight quarter in the final three months of last year as a weaker yen supported exports, but tepid private consumption and the risks of rising U.S. protectionism cast doubts over a sustainable recovery. Data on Monday showed the world’s third-largest economy grew an annualized 1.0 percent in October-December, roughly in line with […]
China’s largest property developer Dalian Wanda Group has set its sights on banks in Europe, including Germany’s Postbank, as it diversifies away from its core real estate business. The Beijing-based group led by China’s richest man is actively looking at several European financial institutions, three people familiar with the matter said. Postbank — which has been put up for sale by Deutsche Bank — was among the […]
Monday 04:15 GMT Overview Equities climbed and the yen softened after Japan reported gross domestic product figures for the final quarter of 2016 that suggested any monetary policy settings will remain on hold for now. Hot topic Japan’s economy closed out 2016 with growth of 0.2 per cent in the fourth quarter, below estimates of 0.3 per cent despite a boost to exports from a weaker yen […]
Dubai, 12 February 2017 Emirates NBD (DFM: EmiratesNBD), a leading bank group in the region, held its tenth Annual General Meeting (AGM) at the Bank’s Headquarters. At the AGM, a review of the year ended 31st December 2016 was presented. Commenting on the business environment, Emirates NBD Chairman, His Highness Sheikh Ahmed Bin Saeed Al Maktoum, said, “The UAE continues to stand out as a resilient and […]
It was a weekend that included an intimate golf outing of more than four hours; a lavish Saturday night dinner; and an unexpected joint statement on North Korea’s missile launch. Yet even more notable was what the two-day summit between Donald Trump and Japan’s Shinzo Abe did not include — controversy. Three weeks into his presidency, Mr Trump appears to be adopting a more traditional US foreign […]
Video footage of a young cyclist who was run over by a bus sparked soul searching in India as local media declared that bystanders had failed to help him, choosing to film the scene instead. The 23-year-old man, Anwar Ali, was hit by a bus while cycling in Koppal in the southern state of Karnataka on Wednesday and died in hospital three hours later, police said. As […]
As Comcast last year conducted secret talks about a potential acquisition of DreamWorks Animation, five Chinese investors — including an elderly couple in Beijing — acquired an enormous stake in the storytelling studio. Over a three-week period ending on April 25, those five accounts purchased more than 2.1m DreamWorks shares, amounting to nearly 17 per cent of all trading in the stock, according to the Securities and […]
If you want to check the pulse of the mining sector one of the best places to go is the Mining Indaba in Cape Town. For this year’s annual gathering, with the sector in a far better place than it was 12 months ago when the mining industry was wallowing in debt, many executives, bankers and government officials may have been looking forward to some warm weather […]
PNC Menon is a busy man — it takes several months to lock an interview into his diary. But on the day of our meeting in Dubai, the Indian-born real estate developer exudes characteristic warmth and courtesy, refusing to allow Arabian Business to leave without a bowl of Middle Eastern halva and repeatedly asking whether we have enough milk in our tea. A long-term UAE resident and […]
|By Arabian Post Staff| As much as 69 percent of oil demand growth up to 2022 will be in Emerging Asia, according to a report by Bank of America Merrill Lynch. Other key conclusions of the report include advancement of the oil demand peak from 2050 to 2035 due to fast growth in electrical vehicles, increased carpooling/sharing and autonomous driving; increase in consumption by 1.1mn b/d p.a. […]
By Ju-min Park and Matt Spetalnick | SEOUL/WASHINGTON SEOUL/WASHINGTON North Korea fired a ballistic missile into the sea early on Sunday, the first such test since U.S. President Donald Trump was elected, and his administration indicated that Washington would have a calibrated response to avoid escalating tensions. The test was likely to have been of an intermediate-range Musudan-class missile that landed in the Sea of Japan, according […]
Opec countries drastically curbed their output in the first month of their new production agreement, in the clearest sign to date that the world’s biggest oil producers are committed to living up to the November pact to cut global supplies. The limits adopted by the oil cartel in January have been “one of the deepest in the history of Opec output cut initiatives”, the International Energy Agency […]
The European government bond market had what is known in technical circles as a minor freak-out this week. Yet as yields in eurozone bonds diverged sharply, the markets for stocks, corporate debt and currencies carried on regardless. The Cac 40 index of large French-listed companies was barely changed on the week. The euro weakened per cent against the US dollar, but at the same time the dollar […]
With the news cycle clearly far less interested in Trump’s golf game or Abe’s handicap, just before 8am local time (6pm ET), North Korea decided to provide CNN with some “exciting” news when it fired a ballistic missile into the sea off its east coast, South Korea’s military said, in what was the latest test of Trump’s resolve to retaliate to North Korean provocations. This was the […]
In this Feb. 8, 2017, photo, a Google Chromebook displays Candy Crush Saga in New York. Google Chromebook laptops are impractical for many people because they’re little more than expensive paperweights when they’re out of range of an internet connection. Yet they’ve defied expectations and made tremendous inroads in one of the least likely places: U.S. schools. (AP Photo/Mark Lennihan) The Google Chromebook, a type of stripped-down […]
BEIJING Six officials in central China’s Hubei province have been punished for dozing off in a meeting on how to motivate lazy bureaucrats, state media and the local government said. Pictures of the sleeping officials have received widespread coverage in Chinese media over the past two days, amid President Xi Jinping’s sweeping crackdown on corruption, extravagance and dereliction of duty. The Communist Party discipline bureau in Hubei’s […]
In a centrally planned economy decisions on what to produce, how to produce and for whom are taken primarily by the government. The term is usually associated with communist economies. However, since US President Franklin D. Roosevelt implemented a robust range of government policies in the 1930s to counter the effects of the Great Depression, using principles that would be popularized by UK economist John Maynard Keynes, […]
Friday 21:00 GMT Overview US stocks and industrial commodities were riding high and the dollar forged ahead at the end of a week in which an outbreak of worries over forthcoming European elections was replaced by renewed bullishness about the policies of Donald Trump, US president. The more confident mood was also driven by optimism about corporate earnings and evidence of strong trade growth in China. Hot […]
Award-winning television journalist Jessica Yellin, who has covered the White House and Capitol Hill and reported from around the globe, has joined the Center for Public Integrity’s board of directors. “I am thrilled to support the exceptional work of the Center, an organization that does what journalism is meant to do: dig, inform, educate public opinion and hold power to account,” Yellin said. “This work is vital […]
BEIJING Sri Lanka aims to finalise a free trade agreement with China this year and the country’s prime minister will visit Beijing in May, the Sri Lankan ambassador said on Saturday, amid rising concern in the South Asian nation about Chinese investment. Hundreds of Sri Lankans clashed with police at the opening last month of a Chinese-invested industrial zone in the south, saying they would not be […]
SYDNEY Chinese online retailer Alibaba Group opened its Australian and New Zealand headquarters in Melbourne on Saturday, its first expansion in the region as it seeks to tap growing global demand for products from the two countries. The group’s billionaire founder Jack Ma, who spent time in Australia as a young man, said he hoped the e-commerce giant would help Australian and New Zealand businesses “share their […]
