By Lindsay Dunsmuir and Jason Lange | WASHINGTON WASHINGTON The U.S. Federal Reserve kept interest rates unchanged on Wednesday and downplayed weak first-quarter economic growth while emphasizing the strength of the labor market, in a sign it was still on track for two more rate rises this year. In a bullish statement following the end of a two-day policy meeting, the central bank also said consumer spending […]
Etihad Airways said on Tuesday it was disappointed that despite its significant investments in Alitalia, the Italian airline had entered extraordinary administration. Shareholders in Alitalia voted unanimously to place the company into “extraordinary administration” as efforts continue to find a buyer and stave off liquidation for the troubled airline. The move follows last week’s rejection by staff of a restructuring and refinancing plan based on hefty job […]
DUBAI // Education systems in the Middle East must improve and the root causes of youth unemployment have to be tackled, experts say. A panel on Wednesday responded to the findings of the Arab Youth Survey saying public schools in the region were not preparing young Arabs for the challenges of the future jobs market. “Curricula are a big problem in this region,” said Roy Haddad, director […]
Yum Brands Inc (YUM.N) posted a better-than-expected quarterly profit, helped by lower taxes, vigorous sales of Taco Bell’s Naked Chicken Chalupas and lower costs at KFC restaurants. Shares of the company were up 1.7 percent at $67.45 before the opening bell on Wednesday. Sales rose 8 percent at Taco Bell restaurants open for more than a year, topping the 3.7 percent growth expected by analysts polled by […]
The law justifying Britain’s Brexit bill is hotly contested, the variables in the calculation are legion and the negotiation has yet to start. But there can be no doubt that the EU’s €100bn demand to settle Britain’s exit dues is one of the biggest political dangers in the Brexit process. The Financial Times estimated the bill using the EU’s negotiating guidelines, the more detailed draft mandate for […]
The collaboration will focus on identifying specific primary and secondary market interventions which have multiplying effects on the economy and act as an enabler to home ownership 03 May 2017 Istanbul, Turkey — Türkiye Wealth Fund (“TWF”) (www.TurkiyeVarlikFonu.com.tr), The Islamic Corporation for the Development of the Private Sector (“ICD”) (www.ICD-PS.org), the private sector arm of IDB Group, and Catalyst Group (“Catalyst”) (www.CatalsytGroup360.com) have entered into a Joint […]
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 […]
