Saudi Arabia said Tuesday that it will issue a quarterly budget progress report for the first time as part of efforts to boost transparency while diversifying its oil-dependent economy. The world’s biggest oil exporter is wooing investors as it tries to reduce budget deficits caused by a collapse in energy revenues. “We will for the first time in Saudi announce, possibly in a couple of weeks or […]
May 3, 2017 by: Jamie Smyth in Sydney New Zealand’s competition watchdog has blocked a merger between the country’s two main newspaper groups in the interests of defending media diversity, shrugging off concerns its decision threatens the groups’ financial viability. Wednesday’s ruling on a proposal from New Zealand Media and Entertainment and Fairfax NZ comes as global regulators face a swath of contentious mergers and growing concentration […]
Elsewhere on Wednesday, – TFW you have become verb used to specify there should be no lying in this particular bond quoting: Shortly after his indictment in 2013, Mr. Peters engaged in a chat session with a potential buyer about the price that would be offered for mortgage securities. The customer wrote, “Ok don’t litvak me! Go ahead with that bid.” – Guardian longread on where oil […]
As the United States adapts to the presidency of Donald Trump and faces rising tensions abroad, Berkshire Hathaway Inc shareholders will descend on Omaha, Nebraska this weekend seeking reassurance, from Warren Buffett. The weekend known as “Woodstock for Capitalists” is unique in corporate America, a celebration of the billionaire’s image and success at a conglomerate whose businesses range from Geico insurance to the BNSF railroad to See’s […]
By Nichola Saminather | SINGAPORE SINGAPORE Asian stocks followed global indexes higher on Wednesday, as strong earnings and manufacturing data boosted risk appetite, while expectations that the Federal Reserve will signal a June rate increase later in the session lifted the dollar. Oil prices pulled higher after a sharp fall on Tuesday on technical selling in a market already worried about oversupply and following a rise in […]
By Anya George Tharakan and Stephen Nellis Apple Inc (AAPL.O) reported a surprise fall in iPhone sales for its second quarter on Tuesday, indicating that customers may have held back purchases in anticipation of the 10th-anniversary edition of the company’s most important product later this year. Shares of the world’s most valuable listed company were down 2.1 percent at $144.37 in after-hours trading. Under pressure from shareholders […]
Angela Merkel, Chancellor of Germany, arrived in Abu Dhabi on Monday on an official state visit, state news agency WAM reported. Upon her arrival at the Presidential Airport, Merkel was greeted by Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. An official reception ceremony was held in honour of the German Chancellor, where both the […]
02 May 2017 wasl Asset Management Group, one of the largest real estate development and management companies in Dubai – has announced the launch of the city’s second luxury Mandarin Oriental hotel, which is due to open in November 2020. The new location in Dubai’s Commercial District of Sheikh Zayed Road will complement wasl’s Mandarin Oriental hotel on the waterfront at Jumeira Beach, which will open in […]
The Victorian government has announced that it will be investing AU$11 million in the mobile blackspot program as part of an overall AU$45 million spend on improving digital technology and infrastructure in regional areas across the state. “The government is investing AU$45 million to give regional Victorian homes and businesses access to mobile and broadband technologies, enabling them to participate in the digital economy,” the Victorian government […]
By Ahmed Aboulenein | MOSUL, Iraq MOSUL, Iraq Ahmed Abdelsattar was 14 when Islamic State swept into Mosul and declared a caliphate in 2014. Fearing he would be indoctrinated and sent to fight by the militants, his parents took him out of school. Three years later, he sells ice cream at a refugee camp for internally displaced Iraqis. His family have lost their home and his father […]
Dr Sheikh Sultan bin Mohammed Al Qasimi, Ruler of Sharjah, has issued a decree establishing the Big Heart Foundation, a charity which aims to raise awareness about the suffering of refugees. The decree states that Sheikha Jawaher bint Mohammed Al Qasimi, Eminent Advocate for Refugee Children at the United Nations High Commissioner for Refugees (UNHCR), and wife of the ruler, will chair the foundation, state news agency […]
Wall Street’s so-called fear gauge slid to its lowest level since before the credit crisis on Monday as the broad US stock market inched closer to a new all-time high and the technology-heavy Nasdaq Composite closed at a record. The Chicago Board Options Exchange’s implied volatility index, also known as the Vix, slipped as much as 9 per cent on Monday afternoon to touch 9.90, its lowest […]
TOKYO Asian shares advanced on Tuesday, helped by rising optimism on the technology industry and easing concerns over North Korea, while the dollar edged up to one-month high versus the yen. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.1 percent, with many of the region’s markets reopening after a long holiday weekend. Japan’s Nikkei rose 0.3 percent. On Wall Street, although the Dow Jones […]
Mubadala Investment Company, established after the merger of Mubadala Development Company and International Petroleum Investment Company, began operations on Monday. The new entity is expected to accelerate Abu Dhabi’s economic diversification as it is active in 13 business sectors in more than 30 countries globally, state news agency WAM reported. The new firm’s total assets of about $125 billion, based on valuations at the end of 2015, […]
US corporate boardrooms’ approval of share buyback plans has fallen to its lowest level since 2012, signalling that the stock market’s surge to further highs this year is curbing a key source of demand for equities. Companies on the S&P 500 index have authorised $146bn in share buybacks this year, down 15 per cent from a year ago, according to data from Goldman Sachs. Executives have also […]
By Olivia Oran and Svea Herbst-Bayliss | BEVERLY HILLS BEVERLY HILLS U.S. Treasury Secretary Steven Mnuchin said on Monday that economic growth of three percent is achievable in the next two years as the Trump administration sets out to dramatically cut taxes. Speaking at the Milken Institute Global Conference in Beverly Hills, California, almost a week after he helped unveil plans to cut taxes for many people […]
Dubai, United Arab Emirates, 01 May 2017 The AACE International Conference and Exhibition 2017 under the theme protecting capital investment through project cost control and risk management was inaugurated today and attended by 40 distinguished speakers and 500 delegates from across the region and different countries. The conference promotes the best practices in the field of cost and risk management. An exhibition was organized in conjunction with […]
A club of top bankers, investors and Treasury officials will this week meet at the venerable Hay-Adams hotel in downtown Washington to discuss the US government’s borrowing plans. It could be a blockbuster meeting. The Treasury Borrowing Advisory Committee meets quarterly to discuss with senior government officials the best way for the US to finance its budget deficit. It is made up of senior executives from hedge […]
By Martin Petty and Manuel Mogato | MANILA MANILA Across Asia, more and more countries are being pulled into Beijing’s orbit, with the timid stance adopted by Southeast Asian nations on the South China Sea at a weekend summit a clear sign this fundamental geostrategic shift is gathering momentum. U.S. President Donald Trump’s flurry of calls at the weekend to the leaders of the Philippines, Thailand and […]
By Richard Cowan | WASHINGTON WASHINGTON Negotiators in the U.S. Congress reached a deal late on Sunday on around $1 trillion in federal funding that would avert a government shutdown later this week, while handing President Donald Trump a down payment on his promised military build-up. The full House of Representatives and Senate must still approve the bipartisan pact, which would be the first major legislation to […]
22 February 2016 – Journalist Daphne Caruana Galizia posted the first major hint that the biggest scandal in Maltese history was about to break. “It’s traditional to eat lamb on Easter Sunday, so Konrad Mizzi and his estranged wife Sai Mizzi Liang will be getting theirs from New Zealand, courtesy of their fixer Brian Tonna, who has a desk at the Auberge de Castille”. […]
Hanging over discussion of Federal Reserve tightening has been a potentially market-shaking question: how to safely unwind the crisis-era asset purchases that bloated the central bank’s balance sheet. Policymakers led by Janet Yellen, the Fed chair, have approached the topic gingerly, acutely aware of the potential to repeat the so-called taper tantrum of 2013, where ill-timed talk of slowing bond purchases roiled global markets. Yet for all the […]
Google Australia has confirmed that the Australian Taxation Office (ATO) is chasing it for a debt relating to unpaid tax, noting it will “lodge an objection” against the amended income tax assessments it was issued at year-end. “Such contingencies relate to reviews for open tax years as well as certain transactions and computations for which the ultimate tax determination is uncertain during the ordinary course of business,” […]
By Shinichi Saoshiro | TOKYO TOKYO Asian stocks struggled for traction on Monday after weaker-than-expected U.S. economic growth data, while the dollar dropped against the yen amid tensions over North Korea and slipped versus the euro on evidence of strong euro zone inflation. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS inched up 0.1 percent and Japan’s Nikkei .N225 added 0.1 percent. Many markets in Asia […]
