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It’s a hot July day in Bethlehem, and white-robed pilgrims from Nigeria stand in the courtyard entrance to the ancient church, singing and beating drums. They’ve travelled more than 3,500 kilometres to enter the church’s low wooden door, pass through a nave under restoration and down one of the staircases in the sprawling church, to the grotto. There, they will kneel in prayer and devotion at the […]

aNewDomain — Rex Tillerson, the ExxonMobil chief who Donald Trump has tapped to be the next US secretary of state, was the director of a Bahamas-based US-Russian oil firm, according to leaked documents in the Panama Papers. Tillerson ended the association with the Exxon subsidiary, Exxon Neftegas, in 2001, Exxon rep Scott Silvestri said Monday, a day after the Guardian and reporters at the International Consortium of Investigative Journalists reported the news. […]

Tunis – December 20, 2016  The Tunis Bay Project Company, a project of Bahrain-based GFH Financial Group B.S.C., held a ceremony in the Tunisian capital recently to mark the nearing completion of infrastructure works on the first and second phases of the Tunis Financial Harbour (TFH). The ceremony was held under patronage and presence of Tunisia’s Prime Minister, Youssif Chahed, a number of other ministers, parliament members and diplomats. The event coincided […]

ABU DHABI // Pakistan’s ambassador to the UAE said he aims to help deepen bilateral defence and economic ties, particularly through the major new trade route traversing Pakistan to China, the Asian power that is set to become the GCC’s largest trade partner. “We really want to make this relationship more diversified, and deepen and expand it,” said Moazzam Ahmad Khan, who began his tenure as Islamabad’s […]

Emirates, the world’s biggest long-haul airline, and Abu Dhabi’s Etihad Airways are reviewing their workforce as overcapacity and a stronger dollar put pressure on earnings. The cutbacks show how the Gulf airlines’ rapid expansion of the past few years is slowing down against a more challenging economic backdrop. Dubai-based Emirates has offered redundancies to staff working in accounting, finance, IT and other departments in its head-office, sources […]

Our annual collection of media corrections is, undoubtedly, an excuse to chuckle at our industry’s missteps. But it’s also a recognition of an honorable practice that not everyone follows. Outlets that mark their corrected articles clearly or collect them in one easily searchable section (for example, The Guardian) may be over-represented in this list, but they should be commended. A note on selection: This is a list of media […]

A last-ditch attempt by Monte dei Paschi di Siena, the struggling Italian bank, to raise up to €5bn in capital was thrown into doubt after the country’s private bank rescue fund expressed “strong reservations” over the terms of a bridge loan that is key to the deal.  On Monday, MPS said in a statement that it was “in contact” with Quaestio Capital Management — which manages the […]

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German short-term interest rates dropped to a fresh record low on Monday as traders anticipated the effect of New Year policy changes announced by the European Central Bank this month, at a time when market activity begins to ebb in the final days of the year. The yield on two-year Bunds fell to as low as minus 0.82 per cent on Monday, in a sign of demand […]

VIENNA Austria’s far-right Freedom Party (FPO) offered on Monday to act as a go-between for U.S. President-elect Donald Trump and Russian President Vladimir Putin after signing a cooperation agreement with Putin’s party. Party leader Heinz-Christian Strache and the FPO’s recently defeated presidential candidate Norbert Hofer attended the signing ceremony in Moscow, as did officials of Putin’s United Russia party including Pyotr Tolstoy, a deputy chairman of the […]

The key economic releases this week are durable goods and GDP on Thursday. Chair Yellen’s speech on the labor market on Monday afternoon is also likely to garner considerable attention. While the calendar gets quieter in the weeks ahead over the holiday season, there are a few notable macro events to keep traders occupied. This week, the Bank of Japan and Riksbank deliver their latest policy verdicts, […]

Better known for its electronic music and street art, Berlin is now also home to an emerging graphic-novel scene in a country that has traditionally treated illustrated stories as children’s literature. Rarely seen in bookstores just a few years ago, German-produced graphic novels now have dedicated shelves, as home-grown artists and foreigners find inspiration in the city. “It was when I moved here that I felt a […]

In this Sept. 5, 2014, file photo, the Apple logo hangs in the glass box entrance to the company’s Fifth Avenue store in New York. Ireland is appealing the European Union’s landmark order to collect 13 billion euros ($14 billion) in taxes from Apple. (AP Photo/Mark Lennihan, File) Ireland will appeal the European Union’s landmark order to collect a record 13 billion euros ($14 billion) in taxes […]

Bank supervision and anti-money laundering standards need to be toughened in global geopolitical hotspots as a way of tackling the recent decline in so-called correspondent banking, a global group of policymakers has said. The Financial Stability Board, the group of policymakers and regulators that makes recommendations to the G20 nations, said on Monday that its members should assist other countries in drafting legislation and training supervisors to […]

Ireland will appeal the European Commission’s ruling to collect €13 billion in taxes from Apple, the Irish Department of Finance has announced on Monday. The Irish countermove comes nearly four months after the European Commission declared tax arrangements between Apple and Ireland — originally established in 1991 — had allowed the company to pay “substantially less tax” than rival companies, and were therefore illegal under state aid […]

TOKYO Asian shares slipped to four-week lows on Monday as the prospect of higher U.S. interest rates and a strong dollar stemming from the incoming Trump Administration’s purported policies of cutting taxes and spending heavily threatened to suck capital out of emerging markets. European shares are seen having better luck, following recent gains in shares of banks, resource companies and some automakers. Spread-betters see a rise of […]

Your daily guide to community and cultural activities across the Emirates for December 19, 2016, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. newslide Abu Dhabi Film screenings Catch two film screenings as part of the Cinema Space series. The Patience Stone (pictured), a film in Dari (Afhgan Persion) with English subtitles, is about a young woman in […]

Ireland has laid out the grounds for its appeal against the European Commission’s demand that it claw back €13bn of state aid from Apple, accusing Brussels of interfering with national sovereignty. The Irish finance ministry said the EU’s executive arm had misunderstood both Irish law and the relevant facts of the case, and also that the commission had exceeded its powers. “Ireland does not do deals with […]

By Kylie MacLellan | LONDON LONDON Britain may need a transitional agreement to smooth its exit from the European Union but it should not “buy back” into too many of the bloc’s regulations, Britain’s trade minister Liam Fox said on Sunday. Fox, who campaigned for a Brexit vote in June’s referendum, also indicated he was seeking a flexible approach on trade to try to ensure the best […]

LONDON Leading Brexit campaigner Nigel Farage said on Sunday he wanted to be a bridge between the British government and the new U.S. administration. Last month U.S. President-elect Donald Trump said Farage – the former leader of the United Kingdom Independence Party (UKIP) – would be great as Britain’s envoy to Washington, but the British government dismissed the suggestion. “I can help to be a bridge between […]

BERLIN Daimler (DAIGn.DE) does not expect Donald Trump to favor U.S. carmakers over their European counterparts, the carmaker’s chief executive told a German paper, shrugging off concerns over the president-elect’s protectionist rhetoric during his campaign. “I find it hard to believe that it would come to punitive tariffs,” Dieter Zetsche told Bild am Sonntag in an interview published on Sunday, adding he did not expect any negative […]

David Cameron began 2016 in 10 Downing Street and ended it at DePauw University in a small Indiana town, speaking for a reported £120,000 an hour. The former British prime minister is now paid almost as much for a 60-minute speech as he used to earn in a year, as he tries to make sense of his own historic failure: Brexit. Whatever he says now, Mr Cameron’s […]

By Lidia Kelly and Pawel Florkiewicz | WARSAW WARSAW Around two dozen members of Poland’s main opposition party extended their sit-in protest in parliament on Sunday after talks to resolve a dispute over proposed restrictions on media access failed to produce an agreement. New rules for journalists in parliament put forward by the ruling Law and Justice (PiS) party have led to the biggest political standoff in […]

Authored by Paul Craig Roberts, This article by Moon of Alabama is not conspiracy theory: Read it carefully. Check out the links. The below theses are thus far only a general outlay… There is an “elite” coup attempt underway against the U.S. President-elect Trump. The coup is orchestrated by the camp of Hillary Clinton in association with the CIA and neoconservative powers in Congress. The plan is […]

Monte dei Paschi di Siena has gained stock market approval to extend a voluntary debt-for-equity swap to retail investors, a key part of the Italian bank’s attempt to raise €5bn in fresh capital before Christmas and stave off a state rescue. The last-gasp attempt by the world’s oldest surviving lender comes as regulators and the bank have revealed that long running crisis at MPS is taking a […]

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