In a week that started with big oil and US shale producers trumpeting their ability to thrive in a world of $50 a barrel crude, the market had a very quick response: let’s see if you can do it at $45. A brutal sell-off across commodity markets this week has quickly taken the shine off strong first-quarter results that would otherwise have been viewed as a triumph […]
Police have ruled out terrorists being behind twin bomb blasts in Manila that killed two people and injured six others. Blasts ripped through shops and pavement stalls on Saturday night in the historic Quiapo district near the Golden Mosque, a well known landmark in the city. A member of the Philippine National Police secures the area following two overnight explosions in Manila’s Quiapo district. Photo: AP Police said on Sunday […]
This post is a fictionalised thought experiment. YOU and YOU ALONE are in charge of what happens in this story. There are trade-offs, choices, and consequences. YOU must use all of your B.S.D. talents and much of your intelligence. Good luck. So… You’re the head of a trading desk, and you’ve felt a bit frustrated of late. Your desk trades government securities issued by the world’s largest […]
Gold is once again losing its sparkle, poised for its biggest weekly decline since November. The precious metal is down 3.2 per cent over the week to $1,227.87 a troy ounce, after touching its lowest level in 7 weeks on Thursday. Gold is now set for its third consecutive week of declines. Diminishing demand for haven assets has been a key factor for declining gold prices, with […]
Why Macau? There are two very different faces to this former Portuguese enclave a short boat ride from Hong Kong. There’s the Macau that has been transformed since its return to China in 1999 into the Las Vegas of the East by the construction of giant hotel casinos on a vast land-reclamation project. And there’s my kind of Macau, still a wonderfully exotic destination, where there are […]
Thailand has bought the first of three submarines from China in the strongest signal yet the military-ruled country is reducing reliance on its long-time ally, the United States. A Thai navy admiral signed an agreement for the $US393 million ($530 million) Yuan-class diesel vessel in Beijing even though Thailand’s state audit office is still investigating the purchase. Prayuth Chan-Ocha, Thailand’s Prime Minister. Photo: Getty Images Thailand’s cabinet, dominated by military officers who seized power […]
HuffPost’s longtime D.C. Bureau Chief Ryan Grim is leaving the company, HuffPost Editor-in-Chief Lydia Polgreen announced in a memo Friday. “I will miss his wise counsel, his passion and his fine mind, and I know you all will too,” Polgreen said. “I will be hosting a farewell bash for Ryan in DC on Tuesday evening — stay tuned for details. I will also be holding a town […]
NEW YORK An octogenarian former New Jersey deputy mayor who once thrilled audiences as burlesque star Hope Diamond plans to sparkle again in the role next week at a charity event – though at her age she plans to keep her clothes on. Three years after being released from prison following a bribery conviction, former Jersey City Deputy Mayor Leona Beldini is headed back to the stage […]
The welcome Possessing one of the most majestic facades a hotel can have, with towering marble columns and maritime sculptures, London’s second Four Seasons opened this year in an exquisitely refurbished beaux arts building, once the grand headquarters of the Port of London Authority. I arrive via cab (make sure you specify the new Four Seasons at 10 Trinity so that the driver doesn’t confuse it with […]
Barclays was under pressure on Friday after Goldman Sachs said the bank needed to prioritise rebuilding capital over shareholder returns. Regulatory hurdles have moved against cross-border banks such as Barclays, which will be hit disproportionately by regional ringfencing laws, said Goldman. Capital ringfences add to uncertainty around Barclays’ litigation costs, its pension deficit and the likely proceeds from the sale of its African bank, said the broker. […]
DUBAI // Most of us have accidentally left a phone or keys in the back seat of a taxi, but not many have left a baby or a bag full of money and gold behind. Two infants and gold worth more than Dh6 million were among the lost and found items of Dubai taxis. “Twice babies were left in Dubai taxis by parents,” said Ahmed Mahboob, customer […]
It’s been two years since rumors about an “Apple car” first emerged. Not surprisingly, the notoriously secretive company hasn’t divulged any details about its plans. But if a car is on the horizon, Cupertino can’t stay quiet for too long. You can hide a smartphone in a lab, but it’s difficult to not have a public presence when developing a vehicle, which requires road testing, typically in […]
By Saikat Chatterjee | HONG KONG HONG KONG Asian stocks declined for a third consecutive day on Friday as fresh falls in commodities raised concerns about the health of the global economy, though the euro bucked the broad weakness on receding concerns about France’s presidential election. Chinese stocks led regional losers, falling to a three-month low as concerns about tighter financial regulations weighed on banking shares while […]
Karl Lagerfeld took Chanel back in time for its 2018 Cruise collection. Amid recreated columns of the Parthenon – which reportedly took four weeks to construct – Lagerfeld transformed the Grand Palais in central Paris into Ancient Greece. The timing could not be more pertinent. As France goes to the polls to select a new president, Britain begins the process of divorcing the EU, and Trump is, […]
Commodities futures in China are diving further, led by another large drop in the price of iron ore to a six-month low. Iron ore futures were down by their daily limit of 8 per cent on the Dalian Commodity Exchange at Rmb458.5 ($66.48). Yesterday, futures were down by as much as the daily limit, before easing to close 5.3 per cent lower. Dalian coking coal futures were […]
Prime Minister of Malta Joseph Muscat | Ben Pruchnie/Getty Images MEPs want to speak to Joseph Muscat during run-up to national election. By Harry Cooper 5/4/17, 3:44 PM CET Updated 5/4/17, 3:54 PM CET Joseph Muscat, Malta’s embattled prime minister, has been summoned to address the European Parliament’s committee on the Panama Papers scandal on May 18, weeks before the country goes to the polls for a snap […]
Better known for his role in Danny Boyle’s Oscar-winning Slumdog Millionaire, Dev Patel has proven equally adept at drama and comedy. Patel joined the cast of Aaron Sorkin’s The Newsroom, as well as starred alongside acting royalty in the Best Exotic Marigold Hotel. This year, he’s starring alongside Jeremy Irons in The Man Who Knew Infinity, and Lion, with Nicole Kidman and Rooney Mara. Lion is based […]
Prince Philip, Queen Elizabeth’s stalwart companion during six decades on the throne, is to step down from his public duties from the autumn, Buckingham Palace announced on Thursday. The Duke of Edinburgh’s decision was taken with the support of the Queen, the statement said. London was earlier gripped by speculation of an imminent announcement after reports senior staff of the royal household had been called to the […]
Or at least not just about the Panama Papers. This election is about saving journalists their jobs. You see, the thing is, this really was the government that kept on giving. And I’m not referring to the just announced minimum wage increase which we will get in two years time, nor the hundreds of employees who have just started working with government and have been immediately given […]
By Nichola Saminather | SINGAPORE SINGAPORE Asian stocks retreated on Thursday, taking their cues from a subdued session on Wall Street, while the dollar retained gains made after the Federal Reserve delivered a hawkish policy statement. At the end of its two-day meeting, the Fed kept its benchmark interest rate steady as expected, but downplayed weak first-quarter economic growth and emphasized the strength of the labor market, […]
Long before TV presenter Naoufer Ramoul had an apartment to decorate, she had chosen an interior designer. Ramoul, who is the presenter of the weekly political debate show Qabil li Niqash, had come across Harf Noon Design Studio on Instagram, and immediately got in touch with the company’s founder, Nisrine El Lababidi. “Naoufer messaged me and said: ‘Nisrine, I don’t own a house at the moment, but […]
By Brendan Pierson | NEW YORK NEW YORK A former Guinea government minister was convicted on Wednesday of laundering $8.5 million in bribes that U.S. prosecutors say he took in exchange for helping a Chinese conglomerate secure mining rights. Jurors in federal court in Manhattan convicted Mahmoud Thiam, 50, of one count of money laundering and one count of engaging in transactions in property with a criminal […]
Your daily guide to community and cultural activities across the Emirates for May 4, 2017, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. Aarti Jhurani rounds up 10 things to do today in the UAE. Want to see your event listed here? Email us with the details and contact information at [email protected] newslide Abu Dhabi Film screenings Catch […]
While we doubt anything material will emerge for various obvious reasons, the NY Post reports that the DOJ is probing Goldman Sachs for alleged Treasury auction rigging: the charge is that Goldman, one of the 23 US primary dealers, won almost all Treasury bond auctions from 2007 to about 2011 even after the Treasury department established safeguards to maintain competitiveness. The case is said to center on […]
