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By Phil Stewart | WASHINGTON WASHINGTON President-elect Donald Trump is finding himself caught between his desire to improve relations with Russia and fellow Republicans who are pushing for a harsher response to what American spy agencies say was the Kremlin’s meddling in the U.S. presidential election. The tacit acknowledgement on Sunday by his incoming chief of staff, Reince Priebus, that Russia was behind the hacking of Democratic […]

ROME Italy is sending its ambassador back to Libya, its foreign ministry said on Monday, making it the first Western diplomatic mission to reopen in the divided country. Italy closed its embassy in Libya in 2015 as rival factions descended into a conflict which has let people smugglers operate with impunity and Islamic State establish a firm foothold. The foreign ministry said in a statement the ambassador […]

“We have no eternal allies, and we have no perpetual enemies. Our interests are eternal and perpetual, and those interests it is our duty to follow.” So Henry Temple, the third Viscount Palmerston, described British foreign policy in 1848, at the height of its imperial pomp. “England is a power sufficiently strong, sufficiently powerful to steer her own course.” It is more than fanciful to imagine US […]

The pound was the biggest faller on foreign exchange markets on Monday, sliding to its lowest level against the dollar since late October, after Theresa May warned there was no prospect of Britain keeping “bits” of EU membership. In an interview at the weekend, the UK prime minister told Sky News that “often people talk in terms as if we are leaving the EU but we still […]

A high-profile forum co-hosted by the six-nation Gulf Cooperation Council (GCC) and European Union (EU) is to take place in Riyadh on Monday. In information carried on its website, the EU said that several GCC and EU officials would participate in the meeting aimed at expanding cooperation and encouraging bilateral investment. European Transport Commissioner Violeta Bulc is to lead the EU representation in the GCC along with […]

Submitted by Peter Korzun via Strategic-Culture.org, It should be noted that quite often the most interesting arms contracts escape media attention. That’s how it was in 2016. Signing a multi-billion-dollar military aid package between the United States and Israel and the subsequent White House approval for long-awaited fighter sales to the Middle East hit the radar screen. In late September, the US approved the sales of Boeing fighters worth […]

Banks have flooded the market with debt in the first days of the new year, propelling a record pace of bond sales as companies seek to lock in borrowing costs before interest rates rise further. The sales have been met with ample investor appetite ahead of the fourth-quarter earnings season, when the majority of US banks are expected to report improved profitability. Banks have sold $42bn of the […]

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UK taxpayers are facing a £24bn bill for decommissioning oil and gasfields in the North Sea — threatening to wipe out remaining tax revenues from an industry that has been among the Treasury’s most reliable cash cows for the past four decades. The new estimates show how the North Sea oil industry risks becoming a net drain on UK resources as it enters its sunset years and […]

One of the more cherished bits of jargon used in finance is an idea that cash may sit on the sidelines, as if piles of notes are substitute players ready to dive into the great game of markets. Investors are still sitting on large piles of cash, holding nearly 5 per cent of their portfolios in spare liquidity in December, according to data from BofA Merrill Lynch. […]

MADRID Spain sees just a slim chance of joint sovereignty over Gibraltar if Britain opposes it, its foreign minister said in an interview with the leading Spanish newspaper El Pais. “I think you have to be realistic, if the United Kingdom does not want to negotiate it will be difficult to carry it forward,” Alfonso Dasits, said in his first interview with a Spanish newspaper since he […]

ABU DHABI // The Gulf has been left without the protection of a naval strike force after the United States Navy withdrew out its sole aircraft carrier last month. With the Dwight D Eisenhower returning to Norfolk, Virginia, at the end of December and its relief, the George H W Bush yet to leave port in the US, the gap of potentially two months is seen as […]

Here are the big questions for investors ahead of the coming trading week. What impact will Donald Trump’s press conference have on markets? “I will be having a general news conference on JANUARY ELEVENTH in N.Y.C. Thank you.” That was how the president-elect last week [3] tweeted news of what is surely the first big market-moving event of the year — if it takes place. Mr Trump […]

Along with most of his Wall Street peers, BofA’s Chief Investment Strategist Michael Hartnett flipped his outlook on risk assets shortly after the election, turning from quietly bearish to vocally bullish and forecasting a substantial rise in US equities, and even more substantial bounce for Japanese, European and UK stocks as well as oil. So far, Hartnett has been correct, and according to recent fund flows, much […]

UAE, January 8, 2017  The UAE Government has announced that it has completed the legal system for venture capital funds as one of the first projects approved by the Government Accelerators initiative launched by H.H. Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai in line with the goals of the UAE National Agenda. The legal system for venture capital […]

LONDON Scotland’s first minister, Nicola Sturgeon, said on Sunday she knew little of Britain’s plan to leave the European Union, a situation that was “unacceptable” six months after the Brexit vote. Sturgeon, the leader of the Scottish National Party which campaigned to remain in the bloc, told the BBC that the British government needed to compromise in negotiations with the EU to keep Scotland on side, rather […]

Sources within the Office of the Prime Minister speaking to The Malta Independent on Sunday have indicated that the audit commissioned into the financial affairs of Minister Konrad Mizzi will be published next month to coincide with a fact-finding mission to Malta by the European Parliament’s Panama Papers committee. The committee, named the PANA Committee, is due to visit Malta on 20 February. The […]

Britain’s three quoted major supermarkets are expected to report this week that they enjoyed solid Christmas trading, though investor concern about a potential squeeze on consumer spending in 2017 means the focus is on their outlooks. Shares in market leader Tesco (TSCO.L) and Morrisons (MRW.L), the UK’s fourth biggest grocer, soared 38 percent and 55 percent respectively in 2016, reflecting a recovery in trading. That coincided with […]

The UK’s Brexit vote shook the cocoa futures market in 2016, pushing the commodity that is priced in sterling to levels not seen in decades. Six months on, traders are feeling a new aftershock from the UK referendum following a filing for bankruptcy protection at the end of December by the US subsidiary of a top 10 cocoa processor Transmar Group. Transmar Commodity Group filed for Chapter […]

On the heels of Czech President Milos Zeman’s warnings of a possible “super-Holocaust” carried out by Muslim terrorists, urging citizens to arm themselves, WaPo reports the country’s interior ministry is pushing a constitutional change that would let citizens use guns against terrorists if police are delayed or unable to make their way to the scene of an attack. Czech president Milos Zeman had previously proposed that economic […]

BERLIN German luxury-car brand Audi said its deliveries rose to a new record last year despite the diesel emissions scandal, although that would likely not be enough to save it from dropping into third place behind luxury rivals Mercedes-Benz (DAIGn.DE) and BMW (BMWG.DE) in global sales rankings. The key contributor to Volkswagen (VOWG_p.DE) group profit increased sales of luxury cars and sport-utility vehicles to 1.87 million units […]

Photo The Russian Olympic Committee headquarters and the Russian Athletics Federation office in Moscow. Credit Maxim Shipenkov/European Pressphoto Agency United States intelligence officials have determined that last year’s cyberattacks on the World Anti-Doping Agency originated with the Russian government, perpetrated in apparent retaliation for what President Vladimir V. Putin deemed to be an American-led effort to defame Russia for widespread doping. That conclusion was published Friday in […]

Your daily guide to community and cultural activities across the Emirates for January 7, 2017, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. newslide Abu Dhabi Art exhibition See the exhibition Realism: Two Angels featuring works by Crimean husband and wife artists Andrey Dudchenko and Katerina Spirtus, who base their expression in realism, though interpreted in different ways, […]

Photo The Russian aircraft carrier Admiral Kuznetsov has been called back to its home port, Murmansk. Credit Norway Royal Airforce, via European Pressphoto Agency MOSCOW — Russia has ordered its only aircraft carrier to return home, part of a general drawdown of forces involved in the Syria conflict, a senior general announced on Friday. The carrier, the Admiral Kuznetsov, was sent to the eastern Mediterranean in the […]

Nobody likes to admit going along with the consensus. It sounds better to be contrarian, and in markets there is far more money to be made when you latch on to an unpopular notion that turns out to be correct. That is how you get to buy things cheap. But sometimes the herd gets it right, even if it gets overexcited and “overshoots” its target. On balance, […]

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