But the changes were not enough. Alexandrians dug deeper into provincialism and their faith. In a city once famed for its European-style liberalism, the Muslim Brotherhood became a powerful force. The ultraconservative Salafi movement built its base. And on New Year’s Day in 2011, the city became the scene of some of Egypt’s worst sectarian violence between Muslims and Christians in modern history. The seeds of the […]
In a report confirming that the ECB is preparing for a rerun of a post-Brexit scenario, Reuters writes that the ECB is ready to temporarily step up purchases of Italian government bonds if the result of next Sunday’s crucial referendum, which according to WSJ will likely determine the future of not only Monte Paschi but other insolvent Italian banks, “rocks markets” and sharply drives up borrowing costs […]
ATHENS Greece and its official creditors can reach an initial agreement on reforms and fiscal targets to pass a key bailout review by the end of the week and a final deal to conclude it by the end of the year, the country’s government spokesman said on Tuesday. Athens, however, cannot make further concessions on labour reforms which go beyond European norms, government spokesman Dimitris Tzanakopoulos told […]
“Putin looks tough and wily, while America looks incompetent and unable to sustain its commitment, and that’s a big win because you have a lot of countries in the region which are re-evaluating their relationships,” Mr. Hokayem said. “Now, Russia is a relatively weaker power to the U.S., but with Trump there’s no expectation that the U.S. will serve as a guarantor of regional security, so Russia […]
Tuesday 06:00 GMT Overview Markets across Asia were trading cautiously as Wall Street and the US dollar weakened overnight and the price of oil has pulled back. European bourses are expected to open a touch weaker, with spreadbetters predicting the UK’s FTSE 100 will slip about 10 points to 6,790 and Germany’s Dax to drop 20 points to 10,562. US index futures suggest the S&P 500 will […]
ABU DHABI // Regional terrorism and the influence of Iran over countries such as Iraq, Syria and Lebanon have led to increased militarisation in the region, according to a new report. The report, Iran and the Gulf Military Balance, says Tehran poses a growing missile threat to maritime traffic in the Arabian Gulf and the flow of petroleum exports. This has led to “a de facto military […]
Much of the markets’ mixed reaction reflects uncertainty about a new president who has never held public office, leaving political leaders, business executives and international institutions to make bets on how a Trump administration may rewrite rules that have governed global affairs under American presidents of both parties. Continue reading the main story “For allies and adversaries alike, the election of Donald Trump represents the likely abandonment […]
Your daily guide to community and cultural activities across the Emirates for November 29, 2016, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. newslide Abu Dhabi Art exhibition Visit The Galleria on Al Maryah Island and see an exhibition by photographer Mark Luscombe-Whyte, who specialises in Arab architecture, including images of the Sheikh Zayed Grand Mosque. Enjoy a […]
Trump team rejects effort to push vote recount | Reuters Top News | Mon Nov 28, 2016 | 10:35pm IST ‘+Reuters.inlinevideo.title+’ ‘+Reuters.inlinevideo.length+’ ‘); } WASHINGTON Donald Trump’s transition team on Monday pushed back against an emerging effort to recount votes from the Nov. 8 presidential election, calling it “nonsense,” but not offering any evidence to back the president-elect’s weekend tweet alleging millions of illegal votes. The Green […]
PARIS A severe strain of H5N8 bird flu that has hit several countries in Europe leading to the culling of thousands of poultry was detected in wild ducks in Northern France, the farm ministry said on Monday. “A first case of highly pathogenic avian influenza H5N8 was confirmed on Nov. 26 in the commune of Marck (Pas-de-Calais), on 20 wild ducks used as callers for waterfowl hunting,” […]
Monday 12:00 GMT. Overview Stock markets in Europe are slipping back, led by losses for embattled Italian financials, on concern about potential contagion spreading from the sector into the eurozone financial system after Italy’s reform referendum. Meanwhile the dollar is cooling after its sustained run higher, with the index tracking the world’s reserve currency against six of its rivals down 0.1 per cent, although it is holding […]
By Andrew Callus | PARIS PARIS France’s centre-right rallied behind free market reformist Francois Fillon as its candidate for president on Monday after a snap opinion poll showed him clear favourite to beat far-right leader Marine Le Pen in an election showdown next year. Fillon, a former prime minister who vowed to change France’s “software” with an assault on public sector spending, moved one step closer to […]
Bail in risk – €4 Trillion Italian banking system at risk as referendum looms Sunday according to Financial Times Concerns of multiple bank failures – Eight banks at risk of failure and bail ins Monte dei Paschi di Siena, third largest by assets and mid-sized banks Popolare di Vicenza, Veneto Banca and Carige and four smaller banks Italy’s banks have €360 billion of problem loans Contagion poses risks to Unicredit, […]
Monday 11:30 GMT. Overview The dollar is cooling after its sustained run higher, with the index tracking the world’s reserve currency against six of its rivals down 0.5 per cent, although it is holding the 100-point mark at 100.940. Stock markets in Europe are slipping back, led by losses for embattled Italian financials. Hot topic Oil is likely to loom large over the week before Wednesday’s Opec […]
Stop me if you think you’ve heard this one before. Italian bank stocks are being hit hard this morning, leading declines across European financials ahead of a key referendum on December 4 that could have major consequences for plans to revive Italy’s troubled financial system. UniCredit – Italy’s most systemically important bank – is the biggest loser, falling 4 per cent, while Banco Popolare, Banca Popolare di […]
Theresa May will launch a charm offensive in a bid to win Polish support in the forthcoming Brexit negotiations, as pressure grew to guarantee the status of migrant workers. Mrs May will host Polish prime minister Beata Szydło and other senior Polish politicians at a meeting in Downing Street on Monday that will focus on Brexit and defence co-operation, and seek to ease diplomatic tensions caused during […]
It’s laudable that Trump wants to bring factories back to USA. But how about virtual, monetary factories? Moving financial institutions such as banks, insurers, brokerage houses, exchanges, and other institutions brings the most bang for the buck when it comes to revitalizing America’s economy. As we explain in Splitting Pennies, even though money doesn’t exist, it’s the most important part of a healthy economy. The business climate […]
Industry eyes opportunity to reinvest at higher yields and leave low rate era behind ©Noam Galai/WireImage/Getty Donald Trump may be just what the global insurance industry needs. Shares in several of the sector’s largest companies have outperformed the market strongly since the US election, on hopes that a prolonged squeeze on their returns is finally drawing to a close. Years of ultra-low rates have eaten away at […]
A new network will bring European research, science and business together to further our understanding of the early universe and its constituents, say authors of a new report. (via WSJ)
First Avenue, the new shopping mall and hotel planned for Dubai’s Motor City, has signed up leading retailer Carrefour as a key anchor tenant ahead of the project’s launch early next year. Carrefour, owned by Majid Al Futtaim, will open the new store in First Avenue while other major retailers are set to be announced for the AED500 million project’s launch during the first quarter of next […]
When Ioan Gornic suddenly starts blasting out 1990s dance hit “No Limits”, the assembled group of about 20 European factory managers shift nervously in their seats and try to avoid eye contact. “Don’t worry, I’m not going to sing,” says the Shenzhen-based general manager for Zobele, an Italian maker of air freshener and insect repellent. “I just want to make the point that the only limits are […]
AMSTERDAM Royal Dutch Shell expects to pump out all the fossil fuel reserves listed on its balance sheet, its chief executive said, dismissing concerns that production limits in the wake of the Paris climate accord could hit the energy giant’s valuation. In an interview with Dutch newspaper Het Financieele Dagblad, Ben van Beurden said the issue of “stranded” reserves – deposits in the ground that cannot be […]
The Irish prime minister has said it will be “impossible” to agree Brexit within two years, in the strongest rejection so far of the UK’s negotiating timetable by an EU leader. Enda Kenny, who is seen as one of Britain’s allies in the process, said “there’s a growing feeling in Europe that there should be a transition period, and that the transition period will be longer than […]
KABUL British Foreign Secretary Boris Johnson dismissed suggestions on Saturday that Britain’s exit from the European Union and the election of Donald Trump as U.S. president would lead to Western powers withdrawing from engagement with the rest of the world. Speaking during an overnight visit to Kabul that included meetings with President Ashraf Ghani and Chief Executive Abdullah Abdullah, Johnson said Britain remained committed to Afghanistan “for […]
