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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 […]

By Jonathan Stempel | NEW YORK NEW YORK PricewaterhouseCoopers LLP [PWC.UL] pinned the blame for MF Global Holdings Ltd’s collapse squarely on the commodity brokerage and its former chief executive, Jon Corzine, at the start on Tuesday of a trial over whether the auditor should pay about $3 billion for its alleged negligence. Jurors are considering a demand by MF Global’s bankruptcy plan administrator that PwC be […]

By Foo Yun Chee | BRUSSELS BRUSSELS An EU court agreed with United Parcel Service (UPS.N) on Tuesday that the EU had wrongly blocked its takeover of Dutch peer TNT four years ago, potentially allowing the world’s largest package delivery company to sue regulators for damages. The European Commission rejected the 5.2 billion euro ($5.5 billion) deal in 2013, saying UPS had not offered sufficient concessions to […]

The European Space Agency (ESA) developed Sentinel-2B satellite has been launched. It is a part of the Copernicus program and will join its twin sister satellite Sentinel-2A in outer space. Sentinel-2A has been orbiting Earth since 2015. Being a part of the ESA’s Copernicus Earth Monitoring Program, the satellite duo will observe the globe and will take high-resolution infrared and color images of the planet’s surface. ESA […]

Donald Trump is not alone. When the US president complained, just before taking office, at the size of his country’s trade gap with Germany, he highlighted an issue that has long been the source of irritation in Washington and beyond. It is a topic that is now also stimulating debate within Germany — with possible consequences for the country’s trade ties with the rest of the world […]

Few institutions embodied the eurozone crisis more clearly than Bankia, the Spanish lender which was bailed out in 2012. Yet you would have been hard pressed to see any signs of that as the lender tapped debt markets this month. The bond sale by Bankia, still majority owned by the Spanish government, attracted almost €5bn in orders for the €500m of debt it sold. Its “tier 2” […]

BRUSSELS European Union member states do not have to issue entry visas to people at risk of torture or inhuman treatment, the EU’s top court ruled on Tuesday, cutting off a possible channel for refugees into the bloc. The decision by the European Court of Justice goes against advice from its advocate general, who said last month that such visas had to be issued under EU law. […]

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07 March 2017 Geneva – The International Air Transport Association (IATA) released data for global air freight markets showing that demand, measured in freight tonne kilometers (FTKs), rose 6.9% in January 2017 compared to the year-earlier period. While this was down from the 10% annual growth recorded in December 2016 it still was well above the average annual growth rate of 3% over the past five years. Growth […]

By Nichola Saminather | SINGAPORE SINGAPORE Asian shares rose on Tuesday, diverging from New York markets that slipped on concern about President Donald Trump’s ability to focus on economic policies. Oil prices were slightly lower amid fears growing U.S. production will offset OPEC cuts. Futures are pointing to a positive open for Britain’s FTSE 100 .FTSE and France’s CAC 40 .FCHI. MSCI’s broadest index of Asia-Pacific shares […]

Photo Graffiti in Sana, Yemen, protested American drone operations in the country last year. The United States has carried out over 40 airstrikes in the country in the past week. Credit Yahya Arhab/European Pressphoto Agency WASHINGTON — For a fifth consecutive night, American warplanes and drones on Monday pummeled suspected Qaeda targets in Yemen as the Pentagon said an earlier attack in the country had killed a […]

06 March 2017 Dubai, UAE – Azizi Developments, a leading UAE-based real estate developer with global reach into international markets, has announced the total construction work on Royal Bay is roughly 80 per cent complete. The upcoming 90-unit Azizi Royal Bay serviced apartments will be located on the luxurious Palm Jumeirah, Dubai. When complete, the fully-furnished, upscale serviced apartment building will offer 58 one-bedroom, 30 two-bedroom, 2 […]

Europe launched the fifth of its Sentinel Earth observation satellites on Monday as part of its multi-billion-euro Copernicus programme to provide speedy images of land, oceans and waterways. The Sentinel-2B satellite, part of a system of satellites that is to monitor Earth, blasted off on board a Vega rocket from Europe’s spaceport in French Guiana at 8:49 p.m. EST (0149 GMT on Tuesday). It will join its […]

We aren’t the world. The most talked-about brands of Mobile World Congress are almost entirely irrelevant to Americans. Some of that doesn’t matter, but the reasons for it are worth talking about. During the world’s biggest mobile conference, everybody was super excited about the Nokia 3310. I found the whole hullaballoo perplexing. But circa 2000, everybody in the UK owned this phone, and they have […]

By Sophie Louet and Claude Canellas | PARIS/BORDEAUX PARIS/BORDEAUX Francois Fillon fought off a rebellion that had threatened to end his candidacy for the French presidency on Monday as party leaders swung behind the centre-right former prime minister despite allegations that he had misused public funds. Hours after party heavyweight Alain Juppe ruled out challenging Fillon, the conservative Republicans’ party leadership unanimously backed their beleaguered candidate, Senate […]

It is a year and a half since the leak of the 11.5m documents related to international financial structures that came to be known as the “Panama Papers”. On 2 and 3 March a European Parliament committee of inquiry was in Luxembourg to check on the country’s response, as part of broader ongoing investigation. The leak of documents belonging to Panamanian law firm and corporate service provider […]

Via Michael Shedlock of MishTalk.com, A quick perusal of Target2 Balances for January shows capital flight from Italy and Spain to Germany intensified again. German target2 imbalances exceed levels hit in the Eurozone crises in 2012. Things improved considerably after ECB president Mario Draghi made his famous statement “Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. And believe me, […]

By David Lawder | WASHINGTON WASHINGTON Trump administration trade adviser Peter Navarro said on Monday the $65 billion U.S. trade deficit with Germany was “one of the most difficult” trade issues, and bilateral discussions were needed to reduce it outside of European Union restrictions. Navarro, the director of the new White House National Trade Council, said at an economic conference in Washington that Germany has used the […]

BELFAST Talks to save Northern Ireland’s devolved government ran straight into an obstacle on Monday as Irish nationalist party Sinn Fein repeated its demand that Democratic Unionist Party (DUP) leader Arlene Foster not return as first minister. A snap election on Friday saw Sinn Fein surge to within one seat of the DUP and deny pro-British unionist politicians a majority in the British province’s local assembly for […]

PARIS PSA Group (PEUP.PA) has agreed to buy European rival Opel from General Motors (GM.N) in a deal valuing the business at 2.2 billion euros ($2.3 billion), the companies said on Monday, creating a new regional car giant to challenge market leader Volkswagen (VOWG_p.DE). The maker of Peugeot and Citroen cars pledged to achieve 1.7 billion euros in cost savings from the acquisition by 2026 and lift […]

Deutsche Bank on Sunday unveiled an €8bn capital increase and its latest sweeping strategic overhaul, as chief executive John Cryan seeks to put Germany’s biggest bank “back on the front foot” after a year of turmoil. The moves, some of which reverse changes to the structure of businesses announced only 18 months ago, come after a year when Deutsche was caught up in two brutal market sell-offs. […]

Photo A medical marijuana farm near the northern Israeli city of Safed. Credit Dan Balilty/Associated Press JERUSALEM — Israel, which has been at the forefront of research into medical marijuana and the drug’s commercialization, took a major step on Sunday toward officially decriminalizing its recreational use. At a time when many American states and European countries are loosening marijuana laws, the Israeli cabinet approved a plan that […]

CATANIA, Italy Almost 1,300 migrants arrived in Sicily on rescue ships over the weekend after crossing the Mediterranean, while a 16-year-old boy died on one of the ships, Italy’s Coast Guard said. Italy has seen migrants arriving by boat at a record-setting pace so far this year, with far more people braving the crossing from North Africa this year than in the previous three years, Italian figures […]

By Balazs Koranyi | FRANKFURT FRANKFURT Two of the world’s biggest central banks are likely to find themselves with a bigger policy gap by the end of the coming fortnight The European Central Bank on Thursday will resist calls to start tightening policy against surging inflation but robust U.S. jobs data on Friday could seal the case for another Federal Reserve hike the week after. So, let’s […]

A Friday session as part of the Emirates Airline Festival of Literature presented an undeniably emotional moment – the author and subject on a public stage together for the first time. The latter was Nujeen Mustafa, the Syrian teenager who travelled more than 5,000 kilometres in a wheelchair to escape the civil war ripping apart her homeland. The writer was veteran journalist Christina Lamb, who documented Mustafa’s […]

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