TOKYO A pause in both the sell-off in global bonds and sharp rise in the dollar following Donald Trump’s election victory, together with Wall Street’s record high overnight helped Asian shares steady on Wednesday from a four-month low struck a day earlier. President-elect Trump’s plans to cut taxes and boost infrastructure spending would boost demand while his proposals to deport illegal immigrants and impose tariffs on cheap […]
Snapchat parent company, Snap Inc., has just filed confidentiality for its initial public offering (IPO), according to reports. News about a Snapchat IPO at a $25 billion valuation first surfaced back in October, and new reports now bolster such claims. The company is reportedly seeing to raise $4 billion, which would lead to a valuation of $25 to $35 billion. The confidential filing with the Securities and Exchange […]
|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 […]
Rio Tinto’s lawyers uncovered more than a year ago internal emails about a questionable $10.5m payment to a consultant, but the mining company did not alert law enforcement authorities and investors about the matter until last week. The Anglo-Australian group said on November 9 it had notified authorities after discovering emails from 2011 that referred to the payment to the consultant, who helped head off a threat […]
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 […]
DUBAI // Increased female participation in society is a top priority for the UAE, Sheikha Manal bint Mohammed, wife of Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs, said on Tuesday. Sheikha Manal, President of the UAE Gender Balance Council and President of Dubai Women Establishment, said these goals would be achieved through the adoption of legislation and policies that support women. She […]
By Steve Holland and Emily Stephenson | WASHINGTON/NEW YORK WASHINGTON/NEW YORK President-elect Donald Trump closed in on naming two early Wall Street backers to key economic positions but jettisoned a national security expert from his transition team on Tuesday, a sign of the premium he places on loyalty as he confronts the task of building his administration. Trump, a Republican outsider who won a surprise election victory […]
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 […]
US President-elect Donald Trump is sending another strong signal that he plans to take a pro-growth and business friendly approach to economic policy, with leading New York investors Steve Mnuchin and Wilbur Ross on his short list for Treasury and Commerce secretary. The pair on Tuesday won the endorsement of billionaire investor and Trump backer Carl Icahn who turned to Twitter after speaking with the incoming Republican […]
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, […]
MARRAKECH// The UAE delegation headed by Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs, attended the opening session of the Conference of Parties 22 on Tuesday. Sheikh Mansour thanked the government and people of Morocco for hosting this important event to tackle climate change and to put in place an effective mechanism for the implementation of last year’s Paris Agreement. The session was […]
Photo A blanket of smog covered Tehran on Monday. Every year, heavy pollution gets trapped by the Alborz Mountains. Credit Atta Kenare/Agence France-Presse — Getty Images TEHRAN — This week, as a yellow blanket of smog settled in for what is typically a winter-long stay, Reza Shajiee, a prominent hipster socialite, posted a picture of himself on Instagram wearing a gas mask under his motorcycle helmet. The […]
ABU DHABI // A new law has replaced TransAD, the Centre for Regulation of Hire Cars, with a new organisation. In legislation issued by President Sheikh Khalifa on Tuesday, TransAD will become the Integrated Transport Centre, an independent authority that reports to the Department of Municipal Affairs and Transportation, reported state news agency Wam. It will regulate public transport, parking management, traffic control centres, weighing stations and […]
newslide ‘The Rock’ talks a future in politics, including potential White House run The Rock may have been voted Sexiest Man Alve by People, but the 44-year-old is interested in topping a more serious poll. After parleying a professional wrestling career as The Rock into leading roles in Hollywood, Dwayne Johnson is entertaining the idea of jumping into the political ring, including perhaps even a run for […]
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 […]
Saudi Arabia’s central bank expects gross domestic product to grow 1.8 percent this year, faster than the 1.2 percent forecast by the International Monetary Fund, the bank said in its annual report, released on Monday. The non-oil sector is expected to expand 2.5 percent and the oil sector, 1.2 percent, the central bank said. At a news conference, central bank governor Ahmed Al Kholifey said that the […]
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. […]
During an interview in his office here, Mr. Omgy acknowledged that his company had provided financial services to Al Qaeda. “We had no other option but to comply with them,” he said. “They were the rulers of the city.” Continue reading the main story But he denied the Treasury Department’s charge that he was a Qaeda member, describing his ties to the group as a business relationship […]
November 15, 2016 by: Kathrin Hille in Moscow Vladimir Putin has urged Donald Trump to co-operate on the war in Syria and develop economic ties in his first push to improve strained Russian relations with the US following America’s election. The Russian president spoke by telephone with Mr Trump, the US president-elect, late on Monday and expressed a “willingness to build a dialogue between partners with the […]
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, […]
Political advertising may get more attention but with Election Day hours away, a liberal super PAC is betting direct outreach to voters is actually more effective. For Our Future has “a goal of 8,093,518 knocks by Election Day,” according to its most recent publicly posted strategy memo. The group was formed last June and supports Democratic presidential nominee Hillary Clinton and Democratic candidates for Congress, including U.S. […]
Photo Donald Trump at a rally against the Iran deal in Washington last year. He vowed during his campaign to renegotiate or renounce the agreement. Credit Doug Mills/The New York Times Seventy-six national security experts urged President-elect Donald J. Trump on Monday to reverse his hostility to the nuclear agreement signed with Iran last year and to use it as a tool to ease other tensions with […]
