A popular measure of the dollar climbed to its highest level in more than 13 years, propelled by the expectation of rising US interest rates, the expectation of significant fiscal stimulus and concerns about the rise of populist forces in Europe. The DXY, an index that measures the dollar against a basket of its main peers and primarily weighted to the euro, gathered pace on Wednesday, rising […]
And yet it does. Among those bothered is Lod’s mayor, Yair Revivo, who is Jewish and announced last month that the city would broadcast the Shema, a central prayer that begins “Hear O Israel,” to counter the mosques’ call. Continue reading the main story The first of Islam’s five daily prayers begins before dawn, noted Col. Motti Yogev, a member of Parliament who introduced the new ban. […]
Photo Costa Rica players after a goal on Tuesday night. The Americans, tied for last place in their group, will have to wait four months to play again. Credit Moises Castillo/Associated Press SAN JOSE, Costa Rica — The defense was a shambles. The midfield had little presence. The attack, such as it was, just spun and sputtered. How bad was it? It is difficult to know where […]
Long-simmering tensions between Donald Trump and the Washington foreign policy establishment burst into the open on Tuesday after a respected former congressman quit the transition team and a leading neoconservative publicly warned colleagues not to join the incoming administration. Mike Rogers, former chair of the House intelligence committee who had been one of the senior figures advising the transition on national security, stepped down as head of […]
|By Matein Khalid| Donald Trump’s shock win will have a profound impact on the GCC economic constellation via multiple feedback loops. His economic policies mean a much higher US dollar, anathema to GCC economies since it correlates with stock/property market crashes, banking stress and oil slumps. This is the macroeconomic linkage due to the GCC US dollar peg whose lessons the region learnt the hard way in […]
Health experts and professionals in the UAE share some of their favourite apps and why they stand out. newslide Dr Rocco Arzoumanian, dentist at Dr Rocco’s Specialized Dental Center in Abu Dhabi, recommends Brush My Teeth, free to download for iOS, from Beansprites: “This is a game that teaches children how to brush their teeth in an informative and fun way. Children move the brush around the characters’ […]
DUBAI: Yemeni Foreign Minister Abdel Malek Al-Mekhlafi said on Tuesday his government was not interested in a cease-fire and unity government announcement by US Secretary of State John Kerry.Speaking after talks in Oman, which is close to the Houthis, and in the UAE, a key member of the Saudi-led coalition, Kerry said he had presented Houthi delegates with a document outlining a cease-fire and peace deal.He said […]
London, 15 November 2016 Users of the Bloomberg Professional service can now access Oxford Business Group’s full range of research on emerging economies, following a distribution agreement between the two firms. Bloomberg, the global business and financial information and news leader, gives influential decision-makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company’s strength – delivering data, news and […]
By Lauren Hirsch and Liana B. Baker Snapchat has filed for an initial public offering, sources familiar with the situation said on Tuesday, which puts the messaging app a step closer to the biggest U.S. stock market debut since 2014. The Venice, California-based company could go public as soon as March and be valued at $20 billion to $25 billion, making it the largest IPO since Chinese […]
By Paul Sandle | LONDON LONDON Google delivered a vote of confidence in London’s future as a technological hub after the Brexit vote on Tuesday by announcing plans for a new building in the King’s Cross area of the city that will house thousands of extra engineers. Google’s Chief Executive Sundar Pichai said computer science had a great future in Britain, citing the talent pool, educational institutions, […]
That WhatsApp has been working on a new functionality — support for video calling — is no secret. The company has now officially confirmed that the much-awaited feature is finally being pushed out for iOS, Windows and Android. On Monday, Nov. 14, the company confirmed the video calling feature’s arrival for the three ecosystems in a blog post. WhatsApp’s move was motivated by the fact that its […]
Dubai retail firm Marka has reported a Q3 loss of $3.2 million (AED11.8 million), a 15% improvement from the $4 million (AED14.7m) loss it reported last year. Company also reported total revenue of AED 65.9 million ($17.9 million) in Q3 of 2016, a decrease of 15 percent compared to the same period in 2015. In its statement, Marka said the results for Q3 reflect the company’s sale […]
Photo Mohamed Morsi, the ousted Egyptian president, during his trial in Cairo in June. Credit Mohamed Hossam/European Pressphoto Agency CAIRO — One of Egypt’s highest courts overturned a death sentence imposed on Mohamed Morsi, who was the country’s first democratically elected president and was ousted in 2013 by the military. Mr. Morsi, who is serving a life sentence in prison for offenses related to espionage and inciting […]
“Phase one is the hope phase,” Stephen Cucchiaro, chief investment officer at 3 Edge Asset Management, says of the reaction in financial markets to president-elect Donald Trump. “As it is a while until he’s president, you can hope for fiscal stimulus getting growth going and reawakening animal spirits.” Evidence of exuberance is not hard to find. S&P 500 financials and heathcare stocks are flying; US 10-year Treasury […]
CAIRO — One of Egypt’s highest courts overturned a death sentence imposed on Mohamed Morsi, who was the country’s first democratically elected president and was ousted in 2013 by the military. Mr. Morsi, who is serving a life sentence in prison for offenses related to espionage and inciting violence, is likely to remain in prison indefinitely. The annulment of his death sentence — as well as the […]
PARIS U.S. President-elect Donald Trump will have little choice but to adopt a softer line on trade than the one he has flagged during his campaign, although flare-ups with some partners are likely, former WTO chief Pascal Lamy said. With financial markets wondering whether Britain will opt for a hard or soft Brexit, Lamy said that there was a similar scenario for trade under a Trump presidency. […]
Average annual staff turnover in the Middle East hospitality sector is running at 16 percent, with most hotels’ salary grading systems in need of a review, according to leading HR practitioners. The second annual Hotelier Middle East Human Capital Report found that 94 percent of local hospitality organisations followed a strict salary structure, defined by grade and spanning departments, and 61 percent operated a minimum wage system. […]
By Corina Pons and Eyanir Chinea | CARACAS CARACAS Multinational companies are selling their Venezuelan operations at hefty discounts – or even giving them away – as they to seek to escape the OPEC nation’s soaring inflation and chronic supply shortages. Six firms, including General Mills and oil producer Harvest Natural Resources, have sold operations for as little as half their assessed value on the companies’ books, […]
Three global trends are reshaping GCC travel distribution business models and threaten to weaken the connection between airlines and customers Rise of digital technologies risks weakening connection between airlines and customers In the Middle East, there is growing internet penetration, with a rapid rise in the use of mobile – around 15% of internet users use only mobile for access By getting closer to […]
SINGAPORE Oil prices rose around 2 percent on Tuesday to move away from multi-month lows struck the day before, pushed higher by expectations of falling shale output and renewed optimism that OPEC will deliver on touted production cuts. U.S. crude futures for December delivery CLc1 had climbed 90 cents, or 2.1 percent, to $44.22 a barrel by 0340 GMT. They struck their lowest in nearly two months […]
Samsung has announced it has entered into a definitive agreement to acquire Harman, the designer and maker of connection products for automakers, in a bid to expand and accelerate its growth in connected technologies. On Monday, Nov. 14 the Korean company confirmed that it will buy Harman for $112 per share, which brings the cost of acquisition to about $8 billion. Harman has a strong presence in […]
Members of Prime Minister Benjamin Netanyahu’s Likud party and other rightist politicians jumped to make hay of the change. Continue reading the main story Yoav Kish, a Likud member of Parliament, called for the expansion of Israeli sovereignty into the West Bank; Meir Turgeman, the chairman of Jerusalem’s municipal planning committee, said he would now bring long-frozen plans for thousands of Jewish homes in the fiercely contested […]
With US president-elect Donald Trump’s governing priorities slowly starting to take shape, the US steel industry emerged on Monday as one sector where investors are placing their bullish bets. Three companies — US Steel, AK Steel and iron-ore producer Cliffs Natural Resources — saw their stock ratings upgraded by Morgan Stanley analysts in the wake of last week’s election, pushing their share prices up. Mr Trump’s election […]
Mary Jo White is stepping down as chair of the Securities and Exchange Commission, putting a spotlight on one of the many regulatory roles Donald Trump will have to fill having promised to loosen rules on the financial sector Ms White, a former federal prosecutor and defence lawyer appointed by President Barack Obama in 2013, said she would leave at the end of the Obama administration, well […]
