ABU DHABI // Jet fighters soared across the skies and tanks rolled along the beaches to the delight of the thousands who turned out for the largest military spectacle yet seen in the UAE. Complete with paratroopers, helicopters, surveillance aircraft, fighter jets and ground combat troops, Union Fortress – an Armed Forces event that included a mock hostage rescue from a ship off Abu Dhabi Corniche – […]
Credit: Scott Meltzer/public domain Despite advancements in fuel-saving technologies over the last 25 years, on-road fuel economy for all vehicles is up only one mile per gallon during that time. In an update to research conducted two years ago, Michael Sivak and Brandon Schoettle of the University of Michigan Transportation Research Institute say that actual, on-road fuel economy for the entire fleet of vehicles (including cars, trucks, […]
Australia is concerned about the South China Sea; all Indonesia wants to talk about is economics. By Leo Suryadinata and Mustafa Izzuddin for The Diplomat March 03, 2017 Prior to Indonesian President Joko “Jokowi” Widodo’s maiden visit to Australia on February 25-26, The Australian – a conservative-leaning paper in Australia – published its exclusive interview with Jokowi on February 24. Jokowi was reported as saying that he […]
The US broke its long drought of hot technology initial public offerings on Thursday as shares in Snap soared more than 40 per cent in their market debut despite questions about corporate governance and profitability at the owner of vanishing messaging service Snapchat. A pack of traders huddled around the desk of Snap’s designated market maker for more than an hour after the opening bell at the […]
Oman’s government has given itself breathing space from the pressure of financing a large budget deficit by selling $5 billion of international bonds, almost completing its entire foreign borrowing plan for 2017 in a single issue. Wednesday’s bond sale, in tranches of five, 10 and 30 years, was about double the size that most investors had expected and a huge amount for a country which returned to […]
Fact-finding mission or junket? Some lawmakers are bewildered that the groups that paid for their trips are now swept up in Turkey’s current political turmoil. “I can’t imagine what they would have wanted out of the North Dakota state Legislature,” said former North Dakota state Rep. Ben Hanson, a Democrat who went on a trip sponsored by a Gulen group in 2013 with six other lawmakers from […]
By Yashaswini Swamynathan U.S. stocks looked set to climb further on Thursday after a record day on Wednesday, as strong economic data added to the optimism about the U.S. economy. Wall Street’s main indexes rallied on Wednesday and the Dow Jones Industrial Average sailed past the 21,000 mark, boosted by President Donald Trump’s more measured tone in a speech to Congress and as bank stocks surged on […]
Middle East fund managers have turned more bullish towards Saudi Arabian equities on hopes that corporate earnings may finally have bottomed out after a slide due to low oil prices, a monthly Reuters poll found. The poll of 13 leading fund managers, conducted over the past week, also found they had become very bearish on Qatari and Egyptian shares. The poll found 62 percent of managers expect […]
Photo King Salman of Saudi Arabia, center, arriving at the presidential palace in Bogor, Indonesia, on Wednesday. Credit Achmad Ibrahim/Agence France-Presse — Getty Images LONDON — You could call it bling diplomacy. As part of a monthlong tour in Asia to promote economic ties, King Salman of Saudi Arabia arrived in Indonesia on Wednesday to great fanfare, accompanied, the news media said, by a retinue with a […]
/By Arabian Post Staff/ The success of DIFC and DMCC has inspired a US-based group to recreate the model in the western hemisphere. The C-MCC Development Group LLC, a US-based development group, announced that it will establish the C-MCC Worldwide Free Trade Zone on Curacao island, patterned after the successful Dubai Multi Commodities Centre (DMCC) and the Dubai International Financial Centre (DIFC) located in the United Arab […]
Israeli telecommunications company Mobilicom is looking to raise AU$7.5 via an initial public offering (IPO), according to a prospectus lodged with the Australian Securities and Investments Commission on March 1. Mobilicom, which provides private wireless networks for mobile platforms and users without the need for infrastructure such as satellites or towers, will issue 37.5 million shares at 20 cents a share, giving it an estimated market capitalisation […]
TOKYO Asian shares rose on Thursday as investors were encouraged by President Donald Trump’s measured tone in his first speech to Congress, which sent Wall Street stocks sharply higher, while growing bets on a U.S. rate hike this month buoyed the dollar. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.2 percent, led by rebound in Australian shares . Japan’s Nikkei .N225 rose 1.3 percent […]
Curled up by the fireplace in a fashionable London hotel, Jared Leto speaks slowly and thoughtfully. “I think that Alessandro does something very special,” he says of Gucci’s creative director, Alessandro Michele. “He puts so much love, care and joy into his work that when you wear Gucci, you’re not just wearing something that’s beautiful or pretty, you’re actually – you’re feeling the same thing that he […]
A storming start for risk assets has defined the first two months of 2017, with heightened optimism on Wall Street pushing the FTSE All-World equity index into record territory. Whether the rally can be sustained in March depends on the outcome of several key events. Here is a rundown of what looms for investors during the month. US jobs data and the Federal Reserve The bullish sentiment […]
Wednesday 16:30 GMT Overview Wall Street surged to another record as comments from Federal Reserve officials caused traders to boost their bets for an increase in US interest rates this month and investors celebrated a more upbeat tone from Donald Trump in his first address to Congress. In keeping with he risk-on mood that washed across financial markets around the globe, the dollar also rose and gold […]
Embedded in a sweatband, a network of sensors devised by Ali Javey can monitor moment-by-moment changes in electrolytes and metabolites, a potential boon to weekend athletes, diabetics and people exposed to heavy metal concentrations. Credit: Roxanne Makasdjian and Stephen McNally Sweating it out on a treadmill, or racing to finish a half marathon, a runner might risk a potentially dangerous buildup of electrolytes in her blood. In […]
Wednesday 09:30 GMT Overview The dollar and government bond yields are jumping, and gold is falling, as hawkish comments from Federal Reserve officials cause traders to drastically shorten the odds of an increase in US interest rates this month. Meanwhile, US equity index futures point to another record on Wall Street, tracking gains in Europe and Asia, after Donald Trump addressed Congress for the first time, with […]
Cotton, a longtime staple crop on the South Plains and major part of the region’s economy, is growing into a new sector: environmental cleanup following oil spills. Now a new study concludes that finer raw cotton in loose form performs best for absorbing oil. (via WSJ)
The six-member Gulf Cooperation Council (GCC) will discuss the likelihood of constructing a regional rail network by 2021 at a meeting of regional ministers in April, a United Arab Emirates minister said on Tuesday. The regional bloc made up of Saudi Arabia, the UAE, Bahrain, Kuwait, Oman and Qatar last year reached an agreement in principle to delay the 2018 completion date until 2021. “Commitment is there. […]
Just because… The Record Winning Streak Is Over… They desperately tried to ramp it but failed NOTE: Today was the worst day for Small Caps since October * * * Banks, Bonds, Bullion, and Broad equity indices were all up in February… So was VIX…a massive divergence for a month Dow led the way this month with a 4th monthly gain in a […]
Barely a year ago, Vale, the Brazilian mining company, was reeling. Prices of iron ore, its principal export, were at an all-time low, investors were ditching its shares and China — the market on which it most depends — looked as if it was heading for a rapid and uncontrolled slowdown. Fast forward 13 months and iron ore is back in fashion. Vale is producing record amounts […]
WASHINGTON Feb 28 U.S. economic growth slowed in the fourth quarter as previously reported, with robust consumer spending offset by downward revisions to business and government investment. Gross domestic product increased at a 1.9 percent annual rate, the Commerce Department said on Tuesday in its second estimate for the fourth quarter, confirming the estimate published last month. Output increased at a 3.5 percent rate in the third […]
Tuesday 12:30 GMT Overview Global stocks are finishing a positive month on a mixed note as traders appear cautious about making fresh bold bets ahead of Donald Trump’s speech to a joint sitting of the US Congress later on Tuesday. The dollar is fairly steady, while gains for perceived haven assets such as Treasuries and the Japanese yen speak to the underlying tentative tone. Hot topic The […]
Thousands of ants converge to follow the most direct path from their colony to their food and back. A swarm of inexpensive, unmanned drones quickly map an offshore oil spill. What could these events have in common? Each extremely complex task is accomplished by individuals following very simple rules. But to make the drones do it, a bit of nature’s magic must be captured in a […]
