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11 December 2016 Riyadh –  Under the patronage of the governor of small and medium enterprises authority, King Abdulaziz City for Science and Technology (KACST), represented by Badir Program for Technology Incubators and accelerators, is hosting the fifth ArabNet Riyadh – the largest and most influential digital conference in the Kingdom – on December 12-14, 2016 to be held at the Four Seasons Hotel.         […]

ExxonMobil chief executive Rex Tillerson has emerged as the strong favourite to be Donald Trump’s secretary of state, US media reported on Saturday, potentially placing a businessman with global dealmaking experience at the heart of US foreign policy. After a 41-year career at the oil giant, Mr Tillerson has no direct diplomatic background but he has close ties with Russian president Vladimir Putin who awarded him the […]

Dubai Investments, part owned by sovereign wealth fund Investment Corp of Dubai, plans to close a 1.1 billion dirham ($299.52 million) loan by Dec. 31, its chief executive said on Saturday. United Arab Emirates banks First Gulf Bank (FGB) and Abu Dhabi Commercial Bank have been mandated for the loan, Khalid Bin Kalban told reporters in Dubai. The loan will be used to build a residential project […]

PTI BOGOR (INDONESIA)President Joko Widodo Saturday said Indonesia and India must cooperate closely in the key areas defence, security and counter-terrorism as no country is immune to a terror attack and also sought stepping up of bilateral trade ties.“I am very much looking forward to have discussions with Prime Minister Modi,” Widodo told PTI in an interview ahead of his state visit to India, beginning Monday.Widodo said […]

By Caroline Valetkevitch | NEW YORK NEW YORK Next week’s Federal Reserve meeting and possible signals on the pace of rate hikes for next year could pose the biggest risk yet to the rally the U.S. stock market has seen since last month’s presidential election. While investors have long anticipated the Fed will raise rates at the Dec. 13-14 meeting – in what would be its first […]

By Steve Holland | BALTIMORE BALTIMORE U.S. President-elect Donald Trump is expected to name the chief executive of Exxon Mobil Corp as the country’s top diplomat, a source familiar with the situation said on Saturday, an appointment that would put in place an official with close ties to the Russian government. News of Tillerson’s possible appointment comes as U.S. intelligence analysts have concluded that Russia intervened in […]

VIENNA OPEC and non-OPEC producers on Saturday reached their first deal since 2001 to curtail oil output jointly and ease a global glut after more than two years of low prices that overstretched many budgets and spurred unrest in some countries. With the deal finally signed after almost a year of arguing within the Organization of the Petroleum Exporting Countries and mistrust in the willingness of non-OPEC […]

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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 […]

US biotechnology stocks have surrendered much of the gains accrued in the wake of last month’s presidential election after comments from Donald Trump stoked concerns that the incoming administration will crack down on rising drug prices. The Nasdaq biotechnology index has skidded almost 4 per cent from Tuesday’s closing level after the president-elect told Time Magazine that he does not “like what has happened with drug prices” […]

Photo President Recep Tayyip Erdogan of Turkey visiting the mausoleum of an Islamic scholar in Samarkand, Uzbekistan, last month. Credit Pool photo by Kayhan Ozer, via Associated Press ISTANBUL — Almost a century after the disintegration of the Ottoman Empire, Turkey’s president, Recep Tayyip Erdogan, and his supporters believe that they can restore the empire’s former glory. Stroll through the streets of any Turkish city and you […]

In early 2009, roughly at the time when this blog was launched which coincided with the start of the greatest monetary experiment of all time, we warned that there are two ways it will end: either in hyperinflation, or a deflationary supernova, the failure of currency and, eventually, barter. Now, almost 8 years later, some of the world’s top hedge funds are in agreement, and they are […]

This is part of a series on the global rise of exchange traded funds The morning after the US election Steven Bregman, a New York-based hedge fund manager, began to notice something strange going on in a corner of the stock market. His screen showed that shares of gold mining companies were being sold indiscriminately, falling by double digits, even though the price of gold itself had […]

10 December 2016 Eagle Hills Jordan recently participated at the 27th Moscow International Property Show at the Tishinka Exhibition Centre in Moscow, Russia on November 11 and 12, showcasing two of its projects being developed in the Kingdom, Saraya Aqaba and Marsa Zayed’s Al Raha Village. Seeking to achieve even further recognition of its projects in Jordan’s coastal city of Aqaba, Eagle Hills Jordan had a 12 […]

LONDON Rupert Murdoch’s new takeover approach for British pay-TV firm Sky should be investigated by the UK’s competition authorities, according to the former minister who referred the tycoon’s previous bid. Vince Cable, who was Britain’s business secretary at the time of Murdoch’s first bid in 2010-11 told BBC radio the media tycoon’s new takeover attempt would not be in the public interest. On Friday Murdoch’s Twenty-First Century […]

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 […]

Global investors are turning their backs on French government bonds, reflecting alarm over the capacity for next year’s presidential election to deliver another shock to the eurozone and financial markets. A pronounced drop in French sovereign bond prices suggests they are being treated less like those of a core European economy and more like securities issued by the region’s least creditworthy countries. The selling has pushed the […]

By Peter Gosnell Australian theme park Dreamworld reopened on Saturday having been closed since the end of October following the deaths of four people on its now-shuttered Thunder River Rapids ride. Craig Davidson, chief executive of theme parks at Dreamworld owner Ardent Leisure Group, said reopening the park on the Gold Coast in the eastern state of Queensland was a poignant moment. “Today the smiles of Dreamworld […]

New research has uncovered large differences between the understanding, attitudes and engagement of UAE investors with different nationalities. The report, carried out by financial solutions provider, Old Mutual International, and investment management firm, Quilter Cheviot, identified UK expats as the most risk averse while non-resident Indians (NRIs) were the most informed on their investment portfolios. The research found that 48 percent of UK expats in the UAE […]

09 December 2016 MARC has affirmed its AAA(bg) and AAA(fg) ratings on Premier Merchandise Sdn Bhd’s (Premier Merchandise) RM300 million 7-year Medium-Term Notes (MTN) Programme (Tranche 1) and RM300 million 9-year MTN Programme (Tranche 2) respectively with a stable outlook. Tranche 1 and Tranche 2 are guaranteed by Malayan Banking Berhad (Maybank) and Danajamin Nasional Berhad (Danajamin) respectively, and the ratings reflect the credit strength of the […]

The Twitter account of Indian entrepreneur Vijay Mallya was apparently hacked Friday morning after messages were posted on his page by individuals who claimed to be part of the same group that broke into the accounts of prominent opposition politicians last week. A message on Mr. Mallya’s Twitter said that his account had been hacked. Messages were briefly posted on his page inviting readers to follow a […]

The European Central Bank’s supervisory arm has rejected a request from Rome to delay a private sector-led rescue for Monte dei Paschi di Siena, leaving Italy little option but to inject state funds and impose losses on creditors. MPS asked the ECB for an extra five weeks to pull off a last-ditch €5bn equity injection for the lender, which emerged as the weakest in the European bank […]

By Luiza Ilie | BUCHAREST BUCHAREST When Romania’s leftist government collapsed a year ago amid outrage over a deadly nightclub fire, many people spied an opportunity for sweeping change in a country plagued by corruption and inept public services. But after the upswelling of public anger over the deaths of 64 people in the Club Colectiv, which lacked emergency exits and fire safety permits, the clamour for […]

Good morning. Regrets laced with irony Glenn Beck is sorry. He really is. He swears. He’s sort of like Miss Otis in Cole Porter’s oft-recorded 1934 “Miss Otis Regrets” (I’ll take Bette Midler’s version). She “woke up and found that her dream of love was gone, madam.” And, them, “from under her velvet gown, she drew a gun and shot her lover down, madam.” In this case, […]

FRANKFURT German semiconductor chipmaking machinery company Aixtron (AIXGn.DE) is considering reducing the size of the business with a partial sale, its chief executive said in an interview published on Friday, opening the door for bidders after a deal with a Chinese firm collapsed. “There are two options: First, we could hope that the markets for our products recover and continue investing high sums in new equipment. But […]

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