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When the headline prints hit tonight on China’s trade data, offshore Yuan dipped and ripped…   As China faced its first trade deficit in 3 years (-$60bn vs +172.5bn exp)… Obviously there is some major seaonality With imports exploding 44.7% YoY (and exports missing expectations dramatically +4.2% vs +14.6% exp). But it appears the economists forgot about this year’s lunar new year holiday falling in January (vs […]

By Saikat Chatterjee | HONG KONG HONG KONG Asian stocks edged lower on Wednesday after a strong start to the week due to profit-taking as investors lacked conviction to buy risky assets before a U.S. policy meeting next week that may see interest rates rising for the second time in three months. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.1 percent in early trade, a […]

March 8, 2017 by: Shawn Donnan and Demetri Sevastopulo in Washington ZTE has agreed to plead guilty to criminal charges of violating US sanctions on North Korea and Iran and to pay up to $1.2bn in fines, the largest sanctions-busting penalty levied against a Chinese company by Washington. The Chinese telecommunications group also admitted to obstructing a federal investigation as part of a settlement announced on Tuesday […]

Saudi Arabia has promised to launch major development projects towards the end of 2017 to re-energise an economy which has been hit by austerity measures, industry sources told Reuters. Deputy Crown Prince Mohammed bin Salman, the kingdom’s top economic official, made the commitment at a recent meeting with a delegation representing the Saudi private sector, the sources, who spoke on condition of anonymity, said. While they pledged […]

Shanghai is regarded as the leading hub outside of Silicon Valley for technology innovations for the next four years, according to a KPMG report released on Monday. The report, claiming to reflect the viewpoints of over 800 global technology business leaders, placed Shanghai, New York, Tokyo, Beijing, and London in the first five places. The report explained that Shanghai became the top pick outside of Silicon Valley […]

DUBAI – March 7, 2017 Hotpack Packaging Industries, a leading producer and wholesaler of quality disposable food packaging materials in the UAE, has recently announced an investment of GBP 50 million to develop a facility in Wrexham – Wales, England. The facility will be equipped with the latest in packaging and manufacturing technologies. The announcement was made when Ms. Lesley Griffiths, Welsh Government Cabinet Secretary for Environment […]

The House of Lords has voted in support of a requirement for the government to bring the final terms of Britain’s exit from the EU before parliament for its approval, inflicting a second defeat on Theresa May’s Brexit strategy in the space of a week. With 634 peers voting — the largest number of peers to participate in a vote in the upper chamber on record, according […]

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Banks have structured some unusual and complex deals for European companies to raise capital through a combination of debt and equity derivatives in recent weeks, reflecting investor enthusiasm for convertible securities. Last week BASF launched a $600m bond bundled with warrants, in a so-called neutral structure which effectively makes the chemicals group a middleman between its investors and its banks.  The deal, put together by Deutsche Bank, […]

Highlights of the day for U.S. President Donald Trump’s administration on Tuesday: HEALTHCARE Trump endorses a plan by Republican lawmakers to replace the Obamacare healthcare law but influential conservative groups come out strongly against it, complicating the proposal’s prospects for passage in Congress. Shares of large U.S. pharmaceutical and biotechnology companies are selling off after Trump says he is working on a system to reduce prices in […]

Via Patrick Buchanan via Buchanan.org, At Mar-a-Lago this weekend President Donald Trump was filled “with fury” says The Washington Post, “mad — steaming, raging, mad.” Early Saturday the fuming president exploded with this tweet: “Terrible! Just found out that Obama had my ‘wires tapped’ in Trump Tower just before the victory. Nothing found. This is McCarthyism!” The president has reason to be enraged. For what is afoot […]

With controversial moves to tighten immigration in the works, visitors from abroad and U.S. citizens alike are on edge about international travel. For the organizers of South by Southwest, that climate gave rise to a public outcry over controversial language in its artist contracts. In light of the ensuing backlash among attendees and performers, SXSW has issued a statement asserting its opposition toward the Trump administration’s actions around […]

Canadian financial services group Canaccord Genuity’s aims to double the contributions to its investment banking business from the Middle East and India in the next five years, its regional head told Reuters. It recently helped broker a C$5 billion ($3.7 billion) investment partnership between Dubai ports operator DP World and Caisse de depot et placement du Quebec, Canada’s second-largest public pension fund. “We think this could be […]

VIENNA U.S. President Donald Trump’s administration pledged on Tuesday to show “great strictness” over restrictions on Iran’s nuclear activities imposed by a deal with major powers, but gave little indication of what that might mean for the agreement. The 2015 deal between Iran and six major powers restricts Tehran’s nuclear programme in exchange for the lifting of international economic sanctions against the Islamic Republic. Trump has called […]

Lab to Enable ADNEC Employees to Lead Development of Cutting-edge Solutions to Meet Dynamic Customer Requirements and Enhance Abu Dhabi’s Competitive Edge Abu Dhabi-UAE: 07 March 2017 His Highness Sheikh Abdullah Bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, officially inaugurated the Innovation Lab at Abu Dhabi National Exhibitions Company (ADNEC) as part of its sustained efforts to instill a workplace culture based […]

The biggest impact investing deal to ever see the light of day — that is how a fascinating new hedge fund deal is being touted. Impact investing is the practice of trying to make a measurable, positive societal impact as well as making a financial return on your money. The US hedge fund Mariner Investment Group reckons it has found a way to turn an investment of about $150m into […]

One week ago, we pointed out a curious bifurcation: the Fed was telegraphing an imminent rate hike – one which following Yellen’s Friday conference is now virtually assured – even though it appears the FOMC would be hiking in a quarter in which GDP comes in in the mid 1%-range, or lower. The reason: while “soft data” – which is important to animal spirits if not actual […]

Alzheimer Association released an annual report on March 7, which suggests that number of Americans diagnosed with the disease is likely to increase with around 10 percent people being affected every 33 seconds. The study suggests that by 2050 more than half the Americans aged 65 years and over will suffer from Alzheimer’s disease. This data is also applicable globally. Reports estimate that around 47 million people suffered […]

DUBAI // The emirate’s private schools are getting together to share their expertise and help raise standards. Educators from 58 schools in Dubai have taken part in the Knowledge and Human Development Authority-led Abundance Group project to promote good practice. “Research shows that what works best to improve teaching and learning across a whole education sector is collaboration between schools and teachers,” said Abdulla Al Karam, director […]

Photo Iraqis fleeing their homes on Tuesday as government forces fought Islamic State militants in western Mosul. Credit Suhaib Salem/Reuters BAGHDAD — Iraqi forces trying to reclaim Mosul penetrated the western part of the city on Tuesday, retaking a bridge and several public buildings during heavy clashes with the Islamic State, officials said. Civilians reported that the bombardment and gunfire were the heaviest since Feb. 19, the […]

As the President gets ready to sign a new immigration executive order today (see our note here:  “Trump To Sign New Executive Order On Travel Bans Today: Will Exclude Iraq, Green Card Holders“), a group of overly burdened federal immigration judges are wondering whether they’ll get additional support to tackle their already massive caseload which is sure to only balloon further under Trump’s new rules. As the […]

Credit: iStock/xavierarnau Michael Siminovitch, director of the California Lighting Technology Center at UC Davis, wasn’t looking for enlightenment when he wandered into a Buddhist temple in Thailand a few years ago. He was touring Thailand as a distinguished visiting professor at King Mongkut’s University of Technology Thonburi’s school of architecture. He’d never been to a temple in his life. The temple was a highly crafted, architectural marvel, […]

Jun Wang (sitting), Christopher Eng (standing), Jiajun Wang (left, laptop screen), and Liguang Wang of Brookhaven National Laboratory used transmission x-ray microscopy combined with spectroscopy to produce the colored maps shown on the large screen. These maps reveal the structural expansion (and the resulting cracks/fractures) and chemical composition changes that occur as sodium ions (Fe, green) are added to and removed from iron sulfide (FeS, red) during […]

Sheikh Mohammed bin Zayed hosts a barza at Qasr Al Hosn. Hamad Al Kaabi / Crown Prince Court – Abu Dhabi An artist’s impression of Qasr Al Hosn and its surrounding area. Courtesy Abu Dhabi Tourism and Culture Authority Sheikh Mohammed bin Zayed with Sheikh Suroor bin Mohamed Al Nahyan at Qasr Al Hosn. Ryan Carter / Crown Prince Court – Abu Dhabi Women and girls weave […]

Republicans on Monday took a step closer towards delivering on Donald Trump’s pledge to scrap Obamacare, by unveiling a long-awaited plan to repeal the healthcare reforms that is set to trigger fierce debate in Congress. The draft legislation, which would roll back many of the core tenets of Barack Obama’s government-led healthcare legacy, was released by Republican lawmakers who have struggled to bridge internecine divisions as they […]

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