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There is over a month left until Trump’s inauguration, and the President-elect’s hard-hitting negotiating style may have scored yet another economic victory: according to a statement issued by Foxconn, the world’s largest contract electronics manufacturer and a major Apple Inc supplier, the company said it was in preliminary discussions to expand its operations in the United States. “While the scope of the potential investment has not been […]

LONDON Citi (C.N) said on Wednesday that its trading operations functioned appropriately in a thin and illiquid market during October’s “flash crash” in sterling, responding to a Financial Times report saying a trader at the U.S. bank exacerbated the pound’s fall. “Sterling fell sharply following a news event just after midnight UK time, when the GBP spot foreign exchange market was extremely illiquid,” Citi said. “Citi managed […]

Trafigura, one of the world’s largest commodity traders, has announced a 12 per cent decline in annual profits as challenging market conditions curbed money-making opportunities and it was forced to write down the value of port and rail assets. In the year to September, net profit was $975m, down from just over $1.1bn in 2015 which was a record year for trading the Geneva-based company. In spite […]

Expansion will help ensure Abu Dhabi’s rising demand for gas is met sustainably and economically 07 December 2016 Abu Dhabi, UAE – Plans to expand the Al Hosn Shah Gas plant’s capacity by 50 per cent have come one step closer today, with the awarding of the Front End Engineering Design (FEED) Services contract, to Britain’s Amec Foster Wheeler. One of the key players in the GCC […]

DUBAI // Motorists were warned on Tuesday to be cautious on the roads this week because of poor visibility. Strong winds will cause dust and sand to blow over open areas from Wednesday to next Monday, leading to low visibility, the National Centre for Meteorology and Seismology said. Seas in the Arabian Gulf and Oman Sea will be rough to very rough, and a significant drop in […]

Several European companies in China have been unable to remit dividends abroad following new exchange controls, in the first confirmation that a complicated approval process for making payments out of China is having a wider impact than first indicated. The EU Chamber of Commerce in Beijing said the payment difficulties experienced by EU companies were “disruptive to business operations”.  The measures, introduced on November 28, appear designed […]

The UAE Armed Forces is now using two of the most advanced military vehicles, which have been both designed and manufactured in the Emirates. NIMR Automotive, a subsidiary of Emirates Defence Industries Company and which has a manufacturing facility in Abu Dhabi, has introduced the N35 and the Ajban-class Special Operations Vehicle (SOV). Both were on display at the UAE’s National Day parade. The N35 is a […]

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BAGHDAD Iraqi army units launched a fresh assault in southeast Mosul on Tuesday and a senior commander was quoted as saying an armoured division had advanced to within less than a mile (1.5 km) of the Tigris River running through the city centre. Iraqi television quoted operations commander Lieutenant-General Abdul Ameer Rasheed Yarallah as saying troops had entered the Salam Hospital in the southeastern neighbourhood of Wahda, […]

Submitted by Brian Cloughley via Strategic-Culture.org, Britain, China, France, Russia and the United States are the world’s five «nuclear weapons states», a description officially recognised in the Nuclear Non-Proliferation Treaty (NPT), which lays down that «each nuclear-weapon State Party to the Treaty undertakes not to transfer to any recipient whatsoever nuclear weapons or other nuclear explosive devices…» It is apparent that the word ‘transfer’ involves ownership and not location, […]

The inaugural event will serve as a platform for industry wide knowledge exchange and discussions around legacy creation 06 December 2016 Dubai, United Arab Emirates: Dubai Business Events in collaboration with the BestCities Global Alliance and the Professional Convention Management Association (PCMA), inaugurated the first ever BestCities Global Forum yesterday. Dubai is proud to host the first event of its kind organised by the global alliance, set […]

By Hamid Shalizi | WAMA, Afghanistan WAMA, Afghanistan Afghan authorities are appealing to local elders in the remote eastern province of Nuristan to help prevent militants loyal to Islamic State from expanding into new territory. The initiative comes as fighters and their families, scattered in recent months by U.S. and Afghan air strikes and special forces ground operations, seek new safe havens. The mountainous and thickly forested […]

U.S. President-elect Donald Trump said on Monday he would name retired neurosurgeon Ben Carson as secretary of the Department of Housing and Urban Development. The following is a list of Republican Trump’s selections for top jobs in his administration. All the posts but that of national security adviser require Senate confirmation: DEFENCE SECRETARY: JAMES MATTIS Mattis is a retired Marine Corps general known for his tough talk, […]

The great American corporate buyback party was expected to fizzle out next year, leaving a hangover of debt and remorse. Instead, the boom may soon find renewed succour if US companies bring their pile of foreign-based cash back home. A tax holiday for US companies looms under president-elect Donald Trump, with some seeing this wave of cash as the catalyst of an investment boom and faster US […]

Today digital transformation is a widely known concept. The growing connectivity of people, machines and even businesses has changed the demands of the markets. In order to keep up and stay competitive, business have to adjust to these demands by digitizing their processes and business models. But the digital transformation also holds a lot of new opportunities to grow or even establish new branches of business. Therefore […]

MANILA – Reuters submitted five questions to the Presidential Communications Office of Rodrigo Duterte for the news agency’s investigation into police killings of drug suspects. The questions and replies are reproduced here in full, edited only for spelling and punctuation:  1. In anti-drug operations in which police say they kill suspects in self-defense (2,004 deaths), almost none of the suspects survive. Why is that? Answer: THE DRUG […]

Islamic finance experts have developed new rules for gold transactions, they said on Monday, potentially opening the way for Islamic institutions to trade gold and silver much more actively. Gold transactions must be fully backed by physical metal and settled on the same day, the developers of the new guidance said, to observe Islam’s distinction between real economic activity and speculation. Traditionally, gold has played a very […]

MOSCOW: Russian Foreign Minister Sergei Lavrov said on Monday he was confident Moscow and Washington can reach a deal in talks this week on the withdrawal of all rebels from the eastern part of the Syrian city of Aleppo.He told a news conference once the deal was reached, rebels who stay in the besieged eastern part of the city will be treated as terrorists and Russia will […]

Submitted by Michael Shedlock via MishTalk.com, Axel Weber, former head of Germany’s central bank says the ECB is going to halt QE soon and hike rates by September. Weber warns Markets Unprepared for Central Bank Shifts. Investors are dangerously unprepared for a sharp rise in eurozone bond yields when US interest rates march higher and European quantitative easing ends, Axel Weber, chairman of UBS and the former […]

MILAN Ferrero, maker of Nutella chocolate spread, has appointed Jerome Gregoire, currently head of the company’s operations in Greece, Cyprus and Malta, as managing director at Delacre, the biscuit maker it has just bought from United Biscuits. Belgium-based Delacre said on Monday Ferrero had completed the acquisition of the Delacre and Delichoc biscuit brands from United Biscuits. Ferrero had made an offer in July to acquire the […]

Nissan Motor Co.’s Leaf, with no one inside, scoots during a demonstration of their Intelligent Vehicle Towing system at Nissan Oppama plant in Yokohama, near Tokyo Monday, Dec. 5, 2016. Nissan Motor Co. is testing out self-driving cars at one of its plants in Japan to tow vehicles on a trailer to the wharf for loading without anyone behind the steering wheel.(AP Photo/Koji Sasahara) Nissan Motor Co. […]

Doha News co-founder has said the news website is scaling back its operations for now as it tries to resolve issues with authorities over access to the website in the country. The website is still open to traffic outside of Qatar, but remains blocked internally. In a message on the website, Doha News co-founder Omar Chatriwala said there are possible issues with the website’s licensing that may […]

In late July, Moussa Aksar, the director of Niger’s L’Évènement newspaper, answered his phone and heard a familiar voice warning him that he was, once again, in danger. “Be careful,” a friendly source told Aksar. “Look out for yourself and be careful what you say on the phone.” Aksar had just published Niger’s first exposé from the Panama Papers, the investigation based on a leak of documents […]

In late July, Moussa Aksar, the director of Niger’s L’Évènement newspaper, answered his phone and heard a familiar voice warning him that he was, once again, in danger. “Be careful,” a friendly source told Aksar. “Look out for yourself and be careful what you say on the phone.” Aksar had just published Niger’s first exposé from the Panama Papers, the investigation based on a leak of documents […]

Boston Dynamics has already developed a robot that can maintain its balance in uneven terrain involving a four-legged robot called BigDog. Now, the company through a third-party technology has just achieved the same feat but this time it involves a humanoid robot. IHMC Algorithm The new development is attributed to an algorithm developed by the Institute for Human and Machine Cognition Robotics Lab in Florida, which allows humanoid […]

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