By Ahmed Aboulenein | ISMAILIA, Egypt ISMAILIA, Egypt Christian families and students fled Egypt’s North Sinai province in droves on Friday after Islamic State killed the seventh member of their community in just three weeks. A Reuters reporter saw 25 families gathered with their belongings in the Suez Canal city of Ismailia’s Evangelical Church and church officials said 100 families, out of around 160 in North Sinai, […]
For years, it was something in the olive oil. Scientists, puzzled by the lengthy lifespans of Mediterranean communities, pointed to the condiment as a key ingredient in the elixir of life. Then there was Japan, whose lengthy spell at the top of global longevity rankings was put down to its citizens’ low-fat diet and love of raw fish. Now, with South Koreans storming to the top of […]
By Balazs Koranyi | FRANKFURT FRANKFURT Devastated by the collapse of its iconic wine industry over a century ago, France may have inadvertently discovered the ideal way for central banks to aid an economy in crisis – open up the purse strings. The Great French Wine Blight, caused by an infestation of phylloxera aphids, laid waste to much of the French countryside in the second half of […]
Submitted by Daniel Mitchell via The Foundation for Economic Education, Early last month, in a column on my hopes and fears for 2017, I fretted about fiscal chaos in Italy leading to default and bailouts. Simply stated, I fear that Italy, along with certain other “Club Med” nations, has passed the point of no return in terms of big government, demographic decline, and societal dependency. And this […]
That leaves many governments invested in vague hopes that such a settlement, however rickety or superficial, will somehow stop the metastasis of the Syrian crisis and ease fears of Islamic State terrorism — often conflated with concerns about ordinary Syrian refugees — that have fueled the rise of right-wing politicians. Photo Syrian refugees live in makeshift tent settlements in Lebanon’s Bekaa Valley. Credit Diego Ibarra Sanchez for […]
By Tom Miles and John Irish | GENEVA GENEVA Opposing sides in the Syrian war came face-to-face in U.N. peace talks for the first time in three years on Thursday, to hear mediator Staffan de Mistura implore them to cooperate to find a way out of almost six years of war. “I ask you to work together. I know it’s not going to be easy to end […]
Selling pressure on French bonds ebbed on Thursday, pushing the yield on the 10-year bond back below 1 per cent, as the prospect of a centrist alliance in the country’s presidential election eased anxiety that far-right candidate Marine Le Pen will win. The decision on Wednesday by independent candidate François Bayrou not to stand in the country’s elections, and instead throw his support behind fellow centrist Emmanuel […]
Photo Iraqi forces attacked the Mosul airport in an offensive to take the western side of the city from the Islamic State on Thursday. Credit Ahmad Al-Rubaye/Agence France-Presse — Getty Images BAGHDAD — Iraqi forces have seized most of Mosul’s airport, an important milestone in the broader offensive to retake from the Islamic State the western half of the city, allied and Iraqi officials said on Thursday. […]
“What’s up with the dollar?” has been the recurring question for investors lately as the reserve currency has slipped from a 14-year high set at the start of January. The answer may lie in the link between the dollar and real yields, a proxy for how investors in the bond market view prospects for stronger economic growth and the normalisation of interest rates. Whereas nominal yields give […]
BISSAU Hundreds of people marched through the capital of Guinea Bissau on Thursday demanding the departure of President Jose Mario Vaz, a day after parliament rejected a programme submitted by his prime minister. Vaz appointed Prime Minister Umaro Mokhtar Sissoco Embalo in November after months of regional talks seeking an end to an 18-month political crisis that has paralysed the institutions of the poor West African nation […]
Frank Sorrentino used to do a lot of mortgages. But since the passage of the Dodd-Frank Act seven years ago, he has mostly shied away. Rules have been tightened so far as to make home loans uneconomic, says the chairman and chief executive of ConnectOne, a bank with $3.7bn in assets based in Englewood Cliffs, New Jersey. “Community banks used to be able to cut through the […]
By Humeyra Pamuk and John Davison | ISTANBUL/BEIRUT ISTANBUL/BEIRUT Turkey-backed rebels have seized the centre of the town of al-Bab from Islamic State, Turkish state media and rebels officials said on Thursday, marking a likely breakthrough in Ankara’s drive to wipe out the militant group in northern Syria. Turkey launched its Syrian operation, dubbed “Operation Euphrates Shield”, in August in an effort to push Islamic State from […]
For footloose international money, the safest place to hide in the European financial system may be two-year German debt. The government of Europe’s largest economy not meeting such obligations in euros is as close to inconceivable as things get. The debt is also easy and cheap to trade, which means it can be a market signal of investor angst. The price of such safety set a record […]
BAGHDAD U.S.-backed Iraqi security forces closing in on the Islamic State-held western half of Mosul stormed the city’s airport and a nearby military base on Thursday, state television said. Counter-terrorism service (CTS) troops and elite interior ministry units known as Rapid Response descended on the airport early on Thursday and the nearby Ghozlani military complex, CTS spokesman Sabah al-Numan told state TV. “Our forces started a major […]
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. A few months ago Vice founder Shane Smith fronted a superior Vice-HBO documentary, “A House Divided,” that detailed the issues, tactics and rancor that dominated Barack Obama’s relations with a Republican-dominated Congress. Now he sees “a perfect storm” that involves […]
Russia is pressing world powers to provide Syria with billions of dollars for reconstruction to bolster its faltering efforts to resolve the Arab state’s six-year conflict. But European and Gulf states, angered by Russia’s military intervention that tilted the war in favour of President Bashar al-Assad, will only contribute if Moscow secures a peace settlement that sets the terms for an eventual political transition, western diplomats say. […]
Photo Nigerians displaced by Boko Haram insurgents last February at Dikwa camp in northeastern Nigeria. The United Nations raised the alarm on Wednesday about the risk of famine in northern Nigeria. Credit Agence France-Presse — Getty Images UNITED NATIONS — In a world filled with excess food, 20 million people are on the brink of famine, including 1.4 million children at imminent risk of death. In the […]
Goldman Sachs, the last bank on Wall Street to handle significant physical volumes of oil and gas, has pushed back against a planned crackdown on combining finance with commodities trading. The institution warned the Federal Reserve to carefully weigh the effects on markets and companies as it sought to levy steep capital charges against a bank’s holdings of bulk materials. In its letter to the Fed dated […]
By Tom Miles and Stephanie Nebehay | GENEVA GENEVA U.N. mediator Staffan de Mistura said on Wednesday he did not expect an immediate breakthrough when Syria peace talks restart on Thursday but wanted productive talks that relaunch the process towards a political solution to end the six-year war. They will be the first U.N.-mediated negotiations on Syria in almost a year, during which time the military and […]
SOUTH OF MOSUL, Iraq A few hundred civilians have fled their homes in the outskirts of western Mosul, the first reported displacement since a U.S.-backed offensive on the jihadists’ remaining stronghold there began at the weekend. A Reuters correspondent saw about 200 women and children being transported on buses by federal police on Wednesday to the town of Hammam al-Alil, some 20 km (12 miles) south of […]
The shelves of Guillermo Lasso’s office are lined with books that inform his politics: Adam Smith’s The Wealth of Nations; The Denationalization of Money by Friedrich Hayek; a compendium of cases about free speech from the Inter-American Court of Human Rights. “A government cannot regulate freedom of expression,” the Ecuadorean conservative opposition leader told the Financial Times before Sunday’s presidential election, in which he won more than […]
But one option being considered is for American troops to step up their support of the fighters by firing artillery, shooting mortars, helping with logistics and significantly expanding efforts to advise them, much as the United States is doing for Iraqi forces in the battle for Mosul. Continue reading the main story In late January, President Trump gave the defense secretary, Jim Mattis, 30 days to develop […]
French small-cap investors are showing little sign of nerves ahead of this spring’s presidential election, setting a strong pace since the start of the year. In a week when the possibility that Marine Le Pen, the anti-immigrant National Front leader, could win May’s presidential vote started to worry bond investors, the small-caps market, consisting of 187 members, maintained its sangfroid. The CAC small index stands 4.3 per […]
Political uncertainty is slowing trade growth, a World Bank report has concluded, indicating that the rise of Donald Trump may already be casting a shadow over the global economy. Major international institutions such as the IMF, the OECD and World Bank have recently upgraded their forecasts of global economic growth largely due to expectations that tax cuts, rising infrastructure spending and a wave of deregulation will boost the […]
