At the Bundesbank’s Frankfurt offices, its dealers sit in front of rows of Bloomberg and Reuters terminals and search for €10bn-worth of their government’s bonds to buy each month. As prices for the debt hit record highs earlier this year, they struggled to find bonds cheap enough to meet their target, set as part of the European Central Bank’s quantitative easing programme. Now, as investors anticipate higher […]
Impala Asset Management, the $2.2bn hedge fund run by George Soros’s former chief investment officer, is benefiting from bets that an overhaul of America’s infrastructure and sustained demand from China will buoy appetite for commodities. Robert Bishop, who founded Impala in 2004, said they decided infrastructure would be a win whoever won the US election, but doubly so in the case of Donald Trump, a real estate […]
ABU DHABI // The Ministry of Education and Du have pledged to distribute 12,000 books to 226 school libraries across the country. “Education is where the seeds of our knowledge economy sprout,” said Marwan Ahmad Al Sawaleh, undersecretary of support services at the ministry. The President, Sheikh Khalifa, declared 2016 the Year of Reading to create a generation of book lovers and consolidate the UAE’s position as […]
Eurozone corporate bond risk premiums have jumped to their highest level since July, as Donald Trump’s victory in the US election effectively erases gains generated by the European Central Bank’s policy of buying companies’ debt. A sharp rise in global bond yields since Mr Trump’s triumph has also spurred an underperformance of European credit relative to the US corporate debt market. Higher corporate credit spreads in euros, […]
As night fell on June 15, volunteers at the Birstall Wellbeing Centre in West Yorkshire were preparing for their usual Wednesday group session. The centre offers Reiki healing, palm readings and holistic massage. Rebecca Walker, who opened the centre eight years ago, is haunted by that night in June. At about 6.30pm, a man in his 50s walked through the door. He was thin, on the short […]
A record run of declines; its worst performance since last year’s surprise devaluation and eight-year lows plumbed on a near-daily basis. Whichever way you cut it, China’s currency is having a testing month. However, unlike the infamous devaluation ruckus in August 2015, and the turmoil in markets that followed renminbi weakness in January, investors are not panicking this time. At least not yet. This month the offshore […]
A new botanical wonder has taken root at the heart of the world’s largest natural flower garden in Dubai. Emirates airline has teamed up with Dubai Miracle Garden to construct the world’s largest floral installation through a life-size version of the Emirates A380, covered in more than 500,000 fresh flowers and living plants. When in full bloom, the aircraft structure will have an unprecedented total stem count […]
Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs is welcomed by Abdul Malik Salal, prime minister of Algeria, upon his arrival at Houari Boumediene International Airport in Algeria on Tuesday for a one-day official visit. Wam Sheikh Mansour is accorded an official welcoming ceremony after landing in Algeria. Wam Sheikh Mansour meets with Abdul Malik Salal during a one-day official visit of Algeria. […]
China’s handling of its state reserves of raw materials such as cotton and sugar will be a key factor shaping the direction of agricultural commodities in 2017, according to a major lender to agribusinesses. China is “the most striking wildcard” that will drive agricultural markets, said Stefan Vogel, head of agri commodity markets at Rabobank, the Dutch lender that is a leading financier to farmers and agribusinesses […]
The report comes as part of the Ministry’s contribution to UAE Innovation Week 2016 H.E. Noura Al Kaabi: We are always looking to draw lessons from our experiences; this report allows us to look back on our processes and plans and build on them to keep improving our electoral process moving forward Abu Dhabi, November 23, 2016 The Ministry of State for Federal National Council (FNC) […]
South Korea on Wednesday signed a military intelligence-sharing pact with Japan aimed at better managing the threat from North Korea’s increasingly active missile and nuclear weapons programmes. The deal, which comes as Seoul scrambles to adjust to the region’s shifting geopolitical landscape, has faced fierce domestic opposition from critics who slam it as an example of embattled President Park Geun-hye’s unilateral decision-making. Ms Park is embroiled in […]
Via The Daily Bell, Barack Obama on fake news: ‘We have problems’ if we can’t tell the difference The US president denounced the spate of misinformation across social media platforms, including Facebook, suggesting American politics can be affected. -Guardian Is fake news the new “conspiracy theory.” We’ve read that it may be, and it seems likely to us. That’s because “conspiracy theory” has seemingly lost credibility as […]
For some frustrated fans, that premise may seem incongruous or maddening, but it is the reality. Consider this, too: Gulati draws no salary from U.S. Soccer to compensate him for his grief. Continue reading the main story Because U.S. Soccer is a nonprofit body that oversees all facets of the sport in the United States — as opposed to a for-profit professional sports team or league — […]
ABU DHABI // Education is essential for the future of young Emirati men and women and the whole nation, Sheikh Nahyan bin Mubarak told the Arab Knowledge Forum in Dubai this week. The UAE Minister of Culture and Knowledge Development said the UAE is moving in the right direction thanks to “wonderful examples of young Emiratis”. “We must provide an education that empowers our youth to embrace […]
TEHRAN: More than 1,000 combatants sent from Iran to fight in support of President Bashar Assad in Syria have been killed in the conflict, the head of Iran’s veterans’ affairs office said Tuesday.“The number of martyrs from our country defending the shrines has now passed 1,000,” Tasnim news agency quoted Mohammad Ali Shahidi Mahalati, the head of Iran’s Foundation of Martyrs’ and Veterans’ Affairs, as saying.Iran has […]
Donald Trump is showing no signs of ditching the unpredictable, pugilistic style that marked his campaign, by clashing with media chiefs, unsettling the US’s closest ally and intervening in the legal fate of his election rival during a 24-hour blizzard of activity. Most of the president-elect’s freewheeling decisions were broadcast over social media on Tuesday, a day after he broke with convention to announce a policy agenda for the […]
SYDNEY Asian stocks crept to one-week highs on Wednesday as investors tried to share in the exuberance of Wall Street, where the three main indices seized record peaks for a second straight session. Australia’s main index led the early action with a rise of 0.5 percent to a one-month top, helped by strength in bulk commodity prices. Japan’s Nikkei .N225 was closed for a holiday after enjoying […]
ABU DHABI // The UAE is focused on tourism as one of the main pillars of the post-oil economy, Sultan Al Mansouri, Minister of Economy, has said. Under the directives of the country’s leadership, the Emirates has developed an economic system based on diversity, innovation and sustainability that achieved an 8.7 per cent GDP growth worth Dh134 billion during 2015, said the minister in an interview with […]
This kind of manipulation of the law is unfolding at a keen moment of weakness for the press, which has already been buffeted by falling revenue and mounting public disaffection. Only 40 percent of the public — the lowest rate since at least the 1990s — trusts the media “to report the news fully, accurately and fairly,” according to a Gallup survey conducted in September 2015. This […]
By Caroline Valetkevitch | NEW YORK NEW YORK U.S. stocks edged higher in afternoon trading on Tuesday, pushing the Dow above the 19,000 level and the S&P 500 above 2,200, though a fall in healthcare stocks weighed on the market. All three indexes along with the small-cap Russell 2000 index again hit intraday record highs, a day after all four indexes set record closing highs, extending their […]
Donald Trump on Monday posted a video describing plans for his first 100 days as US president. “On energy, I will cancel job-killing restrictions on the production of American energy,” he said. The US president-elect plans to open more federal lands and waters to oil and gas leasing, streamline permits for new energy projects and rescind executive actions of President Barack Obama. Deregulation forms the core of his […]
Alibaba Cloud, the cloud computing arm of China’s Alibaba Group, has announced the opening of four new data centres by the end of 2016 in the Dubai, Europe, Australia and Japan. As a major milestone of Alibaba Cloud’s global expansion, the new centres will boost its data centre network to 14 locations, covering key economic centres around the world. The data centre in the Middle East, located […]
November 22, 2016 by: Pilita Clark, Environment Correspondent Scientists are struggling to understand why a burst of “scary” warming at the North Pole has pushed Arctic temperatures nearly 20C higher than normal for this time of year. Experts in the US and Europe say they have been shocked by the soaring temperatures recorded in November, when much of the region is plunged into freezing winter darkness. Temperatures […]
Jeddah, Kingdom of Saudi Arabia, 22 November 2016 President of the Republic of Benin, H.E. Patrice Talon, paid an official visit to the Islamic Development Bank (IsDB) Group headquarters in Jeddah today. He was officially welcomed by IsDB President, Dr. Bandar Hajjar, as well as Vice Presidents and heads of the Bank’s entities. President Talon expressed his country’s willingness to scale up ongoing cooperation with the IsDB […]
