If Donald Trump has made bank stocks great again, Janet Yellen has just made them even greater. US financial stocks were on a tear on Thursday, extending their strong post-election market gains after the Federal Reserve raised interest rates on Wednesday and signalled that at least three more rises are on the cards for next year. The prospect that the US central bank might have to raise […]
By Gabriela Baczynska | BRUSSELS BRUSSELS European Union leaders agreed on Thursday to extend the bloc’s main economic sanctions against Russia over the turmoil in Ukraine for six months until mid-2017, diplomats said. The decision was expected and the formal process to extend the sanctions on Russia’s defence, energy and financial sectors will take place early next week, they said. “We welcome unanimous decision by the EU […]
With over 150 Saudi suppliers now, GE aims to double the number by 2020, creating a dynamic Saudi supply chain ecosystem that serves global markets GE’s investments in localized manufacturing helps build Saudi entrepreneurship, create new jobs for Saudis and build the local SME sector Dubai, United Arab Emirates; December 15, 2016 GE Oil & Gas today won the ‘Best in Supplier Development’ honor at the In […]
Steve Garey, who retired from the Anacortes refinery in 2015 after almost 25 years and served as president of the United Steelworkers local, said that while some positive changes were made after the 2010 accident, upper management at Tesoro remains “contemptuous” of its work force and is “hiding behind incredibly permissive process safety regulations.” Those regulations grew out of a string of catastrophic events in the 1980s, […]
Wednesday 02:20 GMT Overview Stock markets across Asia were mixed as anticipation of the Federal Reserve’s policy decision dulled the effect of another set of record highs for Wall Street. What to watch All eyes were on the end of the Fed’s two-day policy meeting later in the day, with the US central bank expected to raise interest rates 25 basis points. Roughly a year ago the […]
HONG KONG HSBC has launched a $290 million lending facility aimed at technology start-ups and other new industries in China’s Pearl River Delta region, intensifying the battle for a slice of a business that is growing despite a slowing economy. Showered with money from private investors over the last few years, the promising technology start-ups in China, the world’s second-largest economy, have shunned traditional lenders, seeking to […]
The Abu Dhabi government has signed an agreement with a US-based research firm to study the feasibility of a Hyperloop transport system between Abu Dhabi and Al Ain. The Department of Municipal Affairs and Transport (DMAT) announced in a statement on Monday that it had inked a deal with Hyperloop Transportation Technologies (Hyperloop TT) – one of several companies working to bring the technology first conceived by […]
Low interest rates pose one of the biggest threats to the US economy and expose investors to the potential for heavy loses from a price shock across a range of markets, according to an independent arm of the US Treasury. The concerns are raised in the Office of Financial Research’s annual financial stability report to Congress, which concludes that threats to stability remain “in a medium range”. […]
Qualcomm said it will work with Google to combine Android Things, an Internet of things operating system, and its Snapdragon processor. The move could give Google a much larger ingredient brand play in the smart home, Internet of things and smart city deployments. If the collaboration is successful, Android will be embedded with the processors in the IoT food chain. Keep in mind that Qualcomm recently acquired […]
Information and Education In the past 10-20 years, a massive increase in mobile computer processing power changed the way the world consumes and digests information. More and more people around the globe have access to education, almost in real-time. People in the East can see how people in the West live. Lifestyles of people in the Northern hemisphere are visible to people living in the South. Being […]
Bahrain LNG, the developer of the Gulf state’s receiving and regasification terminal for liquefied natural gas (LNG), has closed a $741 million syndicated loan for the platform’s construction, according to a company statement on Monday. “The project is being developed to supplement local gas production in Bahrain and ensure capacity to meet peak seasonal gas demand and industrial growth,” the statement said. While the Gulf region is […]
Tuesday 02:10 GMT Overview Stocks around Asia were on the back foot after Wall Street fell back from record highs while the dollar softened and oil prices struggled to extend gains. Hot topic China has popped back on to investor radars, with mainland stocks falling on Monday by the most in months in the wake of authorities ramping up efforts to crack down on risky equities investments. […]
SHANGHAI China will appoint “river chiefs” to prevent pollution in the nation’s waterways, the official Xinhua news agency reported on Monday, in the latest step taken by Beijing to rein in environmental damage. With the evolution of China from an agricultural nation to an industrial one, toxic pollutants from factories have increasingly seeped into the environment, leading to health problems among the population. A detailed system for […]
Trading volumes across markets have soared following the US presidential election, a boon to Wall Street investment banks as money managers prepare for a new environment under the future Trump administration. Since the November election result, there have been seven days when more than $20bn of investment grade debt has traded hands — a level that had previously only been breached 18 times since data has been […]
· Chamber organised study mission to explore trade and investment opportunities in St. Petersburg · Delegation discussed Dubai-Russia trade ties with key stakeholders from the city’s public, private sectors 12 December 2016As part of its efforts to explore new business opportunities for its members and promote Dubai as a global business hub, Dubai Chamber of Commerce and Industry recently conducted a study […]
DUBAI // A 30-year-old tourist confessed to working as a prostitute when she appeared at Dubai Criminal Court. The Nigerian woman was caught by a security guard inside a men’s accommodation block in the Al Quoz industrial area where she had sex with several men for Dh150 each in October this year. “The security guard told me that he caught the woman after she got out of […]
The recent deal to keep Carrier jobs in the United States is not at all unusual. It only received so much press because Trump made it a campaign issue and saw an opportunity to record a big early PR victory before he even took office. Government and corporations cooperate, negotiate deals, scratch each others backs, kickback ill-gotten gains, and function as a career advancement funnel for corrupt […]
Monday 02.15 GMT Overview Markets around Asia were mostly higher, buoyed by a surge in oil prices and following on from another set of records for Wall Street on Friday. Hot topic Ahead of the Federal Reserve’s policy meeting on Wednesday, government bond yields are hovering at their highest levels in months. Of note, the yield (which moves inversely to price) on the benchmark 10-year US Treasury […]
11 December 2016 Dubai: Dubai SME, the agency of the Department of Economic Development mandated to develop the Emirate’s small and medium enterprise (SME) sector, and Al Tamimi & Company, the largest law firm in the Middle East which specialises in patents and innovations, have signed a memorandum of understanding (MoU) to support entrepreneurial innovations and patents. The MoU reflects both parties’ commitment to achieving the UAE’s vision […]
Combining silicon with an optically active material enables tiny lasers compatible with industrial fabrication techniques, report scientists. (via WSJ)
Abu Dhabi Ports, the master developer, operator and manager of the emirate’s commercial and community ports as well as Khalifa Industrial Zone, has hailed the opening of the new Mohammed bin Rashid Road as a “major milestone”. Mohamed Juma Al Shamisi, CEO of Abu Dhabi Ports, said in a statement that the new highway, which opened on Tuesday, will enable Khalifa Port’s expansion and growth plans. Al […]
10 December 2016 Dubai, UAE: Dubai Electricity and Water Authority (DEWA) has reached financial closure for the 2,400MW Hassyan clean coal power project. The project uses the Independent Power Producer (IPP) procurement model on a Build Own Operate (BOO) basis and is supported by a 25-year Power Purchase Agreement (PPA) with DEWA. Last June, DEWA signed the PPA, Shareholders Agreement (SHA), and other project agreements with the […]
Ghana re-established its reputation as one of Africa’s cleanest democracies on Friday when authorities proclaimed opposition leader Nana Akufo-Addo, 72, a British-educated lawyer and veteran statesman, as the next president. The victory by Mr Akufo-Addo’s centre New Patriotic party, after eight years of rule by the left-leaning National Democratic Congress, triggered wild celebrations across much of the country. It follows the surprise electoral defeat last week of […]
Submitted by Nomi Prins via TomDispatch.com, Given his cabinet picks so far, it’s reasonable to assume that The Donald finds hanging out with anyone who isn’t a billionaire (or at least a multimillionaire) a drag. What would there be to talk about if you left the Machiavellian class and its exploits for the company of the sort of normal folk you can rouse at a rally? It’s […]
