Dubai master developer Nakheel has signed a construction contract worth nearly AED1.5 billion for The Palm Gateway, a new three-tower residential, retail and beach club complex at the foot of the world-famous Palm Jumeirah. Nakheel said in a statement that it has appointed Shapoorji Pallonji Mideast to carry out the work, which will begin by the end of June and take two and a half years to […]
The Federal Reserve is actively considering a profound change in US monetary policy, in effect the reversal of quantitative easing (QE). In its March meeting, the FOMC discussed its strategy for the future run down of its balance sheet, and said that further debate would take place in upcoming meetings. The FOMC has already concluded that “a change in the Committee’s reinvestment policy would likely be appropriate […]
DUBAI Former president Mohammad Khatami, considered the spiritual leader of Iran’s reformists, urged voters on Sunday to re-elect President Hassan Rouhani and support his policy of seeking to end Iran’s isolation from the rest of the world. Iran’s hardline security and judicial powers, which operate separately to the presidency and are close to Iran’s ultimate authority – Supreme Leader Ayatollah Ali Khamenei – have banned media from […]
Emmanuel Macron’s election as president of France received few more rapturous welcomes than that given by Sylvie Goulard, a liberal French politician in the European Parliament and ally of the 39-year-old new head of state. “Finally! Finally, Europe and France reconciled!” Ms Goulard enthused. “What a symbol — a young president, focused on the future, entering the Louvre of the kings of France to the sound of […]
By Erik Kirschbaum | BERLIN BERLIN The names of German military barracks honouring a handful of World War Two officers should changed to show that the country’s post-war armed forces have made a clean break from their Nazi past, Defence Minister Ursula von der Leyen said on Sunday. Having come in for criticism herself after accusing the Bundeswehr armed forces of “weak leadership” amid a national debate […]
Portugal won the Eurovision Song Contest for the first time on Saturday with a gentle, romantic ballad that challenged the event’s decades-long reputation for cheesy, glittery excess. Salvador Sobral – who has a serious heart condition and is awaiting a transplant – sang Amar Pelos Dois (Love For Both), written by his sister Luisa, in a high, clear tenor accompanied by quiet strings and a piano. Unlike […]
Emmanuel Macron will formally become French president on Sunday and will immediately be put to the test by challenges from choosing a prime minister to pressing Germany to back a tougher EU stance on trade and investment. Mr Macron, a 39-year-old Europhile pro-business centrist, is taking over a country on edge after an unpopular Socialist presidency and a rollercoaster campaign marked by the qualification of the far-right […]
BRUSSELS Dutch brewer Heineken (HEIN.AS) has launched a non-alcoholic version of its namesake beer with the aim of becoming the global leader in a part of the market growing faster than the average. The world’s second largest beer maker launched “Heineken 0.0” at the Spanish Grand Prix in Barcelona and will sell it in 17 markets, across Europe and also Russia and Israel, unlike rivals which have […]
When we looked at subprime auto delinquencies most recently, we found some troubling trends: first, in February, we showed that 61+ day delinquencies in General Motors’ subprime securitization book would support a rather bleak thesis for future auto sales, and specifically the demand side of the equation, with January 2017 delinquency rates soaring to the highest levels since late 2009/early 2010. Ironically, this hasn’t stopped lenders from […]
“The hope that consumer and business spending will surge is probably just that, hope.” – Joel Naroff, President of Naroff Economic Advisors and TDn2K Economist So another chain restaurant is “preparing” to bite the dust. Ignite Restaurant Group, which operates the Joe’s Crab Shack chain with 113 locations and the Brick House Tavern chain with 25 locations, and used to operate the Romano’s Macaroni Grill […]
Nadim Karam moved back to his native Beirut in the early 1990s, after years spent studying abroad during the lengthy Lebanese civil war. The city had been ravaged by shelling and was haunted by derelict buildings. It was emotionally and symbolically divided along the Green Line that had split the city into East and West for 15 years. Karam, who had studied both architecture and art, saw […]
Good morning. Here’s our morning roundup of all the media news you need to know. Want to get this briefing in your inbox every morning? Subscribe here. Washington was convulsed last night by icy nastiness, harsh language and people crying foul. Oh, that was the deciding game in a hockey playoff between the historically hard-luck Washington Capitals and Pittsburgh Penguins, just one of three major sports distractions […]
Mother Jones on Friday announced a half-million dollar crowdfunding campaign to investigate any connections between the Trump administration and Russia, asking for reader support to “make sure truth prevails over power.” To raise money for the project, which Mother Jones is calling “Trumpocracy: The Russia Connection,” the bimonthly magazine is trying to sign up at least 1,000 new sustaining donors at $15 per month. They’ve already lined […]
If you are an investor wanting a safe, unexciting asset to make a bit of money, avoid South Africa’s rand. It is not that you cannot make money trading the currency. You very much can, and you might make it big and quickly. The problem is you can also lose much more than you gain and at a frightening pace. To play the rand, investors need not […]
By Chris at www.CapitalistExploits.at What in God’s name is happening? It’s not a high. It’s a record high. Sweet mother of Mary… As we can see from the above chart courtesy of the FT, emerging markets sold a record amount of government debt in the first quarter of this year. More from the FT here: “Data from Dealogic, a research firm, show that sovereign bond sales from emerging markets rose […]
Saudi Arabia is preparing to cement ties with President Donald Trump by committing to unprecedented investments in the US. The kingdom’s sovereign wealth fund is set to announce plans to deploy as much as $40 billion into US infrastructure, according to people familiar with the matter. The investment may be unveiled as early as next week to coincide with Trump’s visit to the kingdom, said the people, […]
By Parisa Hafezi | ANKARA ANKARA President Hassan Rouhani will defend his efforts to open up Iran to the world on Friday in a final televised debate against the hardline challengers who aim to topple him in an increasingly acrimonious election next week. Rouhani, swept into office in a landslide four years ago on promises to reduce Iran’s international isolation, is seeking a second term after negotiating […]
May 12, 2017 IMPHAL, India – Fifteen seconds into the opening match of the 10th Manipur International Polo Tournament, after a long and feverish drumming performance, after the Manipur state chief minister had been properly honored with gifts and praise, after mounted players had paraded around the Mapal Kangjeibung polo ground with country flags held high, the home team scored on the Australians. It was a bright […]
The Equatorial Guinea-Saudi Arabia Economic Forum follows intensive efforts by the Government of Equatorial Guinea to expand relations with countries in the Arabian Gulf JEDDAH, Kingdom of Saudi Arabia, May 12, 2017 Two global energy powers met today (May 11, 2017) for the first Equatorial Guinea-Saudi Arabia Economic Forum, organized by the Ministry of Mines and Hydrocarbons of Equatorial Guinea. The historic event was hosted by the Jeddah Chamber […]
To find out how to type better with virtual reality technology, computer scientists used a light-up virtual display, autocorrect algorithms and a physical keyboard. Credit: Kiran Udayakumar What’s better than a holographic keyboard? A real one, apparently. New research from computer scientists at Michigan Technological University delves into the different ways to type in a virtual reality (VR) space. They’re presenting their work at ACM Conference on […]
MEXICO CITY Mexico’s President Enrique Pena Nieto wrote to Leonardo DiCaprio on Twitter on Thursday in a bid to reassure the Hollywood actor his government was taking steps to protect a rare porpoise in Mexican waters teetering on the brink of extinction. Populations of the vaquita, a tiny snub-nosed porpoise that lives in the Gulf of California, have dropped sharply in recent years because of gillnet fishing […]
The supercapacitor invented by researchers from UCLA and the University of Connecticut could lead to pacemakers and other implantable medical devices that last a lifetime. Credit: Islam Mosa/University of Connecticut and Maher El-Kady/UCLA Researchers from UCLA and the University of Connecticut have designed a new biofriendly energy storage system called a biological supercapacitor, which operates using charged particles, or ions, from fluids in the human body. The […]
Reem bin Karam taps Emirati tradition and history to find her role models but a life of selflessness is hers alone and she is the example for young compatriots to follow as she shares lessons written in tears of family tragedy. SHARJAH // A life-long passion for helping others and giving back to society is what inspires Reem bin Karam go to work each day. Ms bin […]
OIAPOQUE, Brazil – Deep beneath the waters of the Atlantic off Brazil’s most northern coast, French major Total SA is hunting for what it hopes will be Latin America’s next big oil discovery. Metal drill bits, pipes and containers filled with equipment sit in the tropical port of Belém, near the mouth of the vast Amazon River, ready to sink the first exploratory wells 120 km (75 […]
