“What’s up with the dollar?” has been the recurring question for investors lately as the reserve currency has slipped from a 14-year high set at the start of January. The answer may lie in the link between the dollar and real yields, a proxy for how investors in the bond market view prospects for stronger economic growth and the normalisation of interest rates. Whereas nominal yields give […]
A HoloLens display visualization Microsoft “You take the high road and I’ll take the low road and I’ll be in Scotland before you,” assert modernized lyrics of The Bonny Banks of Loch Lomond. The 176 year-old song is a metaphor for the state of virtual reality. Scotland represents a promised land of market leadership, Oculus and HTC, with their pricey high-end products, are taking the high road, […]
The arrival of Mike Flynn’s replacement, Gen. H.R. McMaster as Trump’s new national security advisor could mean sweeping changes of the White House foreign policy team, giving him control of Homeland Security and guarantee full access to the military and intelligence agencies. In a report by the NYT, Mr. McMaster is said to be weighing changes to an organization chart that generated consternation when it was issued […]
BEIRUT: Turkish-backed Syrian opposition announced on Thursday they had taken full control of Al-Bab from the Daesh group, marking a key defeat for the jihadists after weeks of heavy fighting.The town of Al-Bab, just 25 kilometers (15 miles) south of the Turkish border, was the last Daesh stronghold in the northern Syrian province of Aleppo.“We are announcing Al-Bab completely liberated, and we are now clearing mines from […]
Frank Sorrentino used to do a lot of mortgages. But since the passage of the Dodd-Frank Act seven years ago, he has mostly shied away. Rules have been tightened so far as to make home loans uneconomic, says the chairman and chief executive of ConnectOne, a bank with $3.7bn in assets based in Englewood Cliffs, New Jersey. “Community banks used to be able to cut through the […]
By Humeyra Pamuk and John Davison | ISTANBUL/BEIRUT ISTANBUL/BEIRUT Turkey-backed rebels have seized the centre of the town of al-Bab from Islamic State, Turkish state media and rebels officials said on Thursday, marking a likely breakthrough in Ankara’s drive to wipe out the militant group in northern Syria. Turkey launched its Syrian operation, dubbed “Operation Euphrates Shield”, in August in an effort to push Islamic State from […]
For footloose international money, the safest place to hide in the European financial system may be two-year German debt. The government of Europe’s largest economy not meeting such obligations in euros is as close to inconceivable as things get. The debt is also easy and cheap to trade, which means it can be a market signal of investor angst. The price of such safety set a record […]
Three Egyptian real estate executives said on Thursday that their companies have suspended housing deals with the Saudi Arabian government amid political tensions between the two countries. Four Egyptian real estate companies had signed memorandums of understanding with the Saudi Housing Ministry during King Salman’s April visit to Cairo last year. Since then, political differences have emerged as the two Arab powers have diverged on the conflict […]
By Mehreen Zahra-Malik | LAHORE, Pakistan LAHORE, Pakistan Pakistani real estate giant Rafi Group made a ten-fold profit last year from its sale of hundreds of acres of land in the remote fishing town of Gwadar, acquired soon after the government announced plans for a deep-sea port there. The windfall came after 12 years of waiting patiently for the Gwadar port to emerge as the centrepiece of […]
By Praveen Menon | KUALA LUMPUR KUALA LUMPUR Malaysia is considering expelling North Korea’s envoy to the Southeast Asian nation or shutting its embassy in Pyongyang, as tensions escalate over the killing of the estranged half-brother of the North’s leader Kim Jong Un, a senior government official said. Kim Jong Nam, 46, was killed at Kuala Lumpur International Airport on Feb. 13 with what police believe was […]
Vodafone Australia has reported a net loss of AU$241.8 million for the first half of FY17 on total revenue of AU$3.35 billion, an 8.4 percent year-on-year decrease. Earnings before interest, tax, depreciation, and amortisation (EBITDA) were AU$912.2 million, a 12.2 percent increase from the AU$812.8 million reported for the first half of FY16. Net average revenue per user (ARPU) was AU$37.97, a loss of AU$7.71 from last […]
Emirates is set to launch a series of new cabin products and enhancements in 2017 for both its A380 and Boeing 777 fleet. The multi-million dollar cabin interiors upgrade programme includes an enhanced Onboard Lounge for its flagship Airbus A380 aircraft, the Dubai-based airline said in a statement. It said the A380 Lounge upgrade has been inspired by private yacht cabins, with seating space increased. Sir Tim […]
America’s Midwest farmers can’t seem to catch a break. First, an epic collapse of grain prices over the last couple of years have threatened to wipe out family farmers (see “Midwest Farm Bubble Continues Collapse As Farm Incomes Expected To Crash In 2017“) and now, thanks to the pending NAFTA showdown threatened by President Trump, Mexico, the single largest importer of U.S.-grown corn, has announced plans to […]
For the Arab world’s largest country, February 11, 2011, was the moment the 21st-century began. Hosni Mubarak, after decades in power, was finally pushed to step down after millions of people took the streets. Many things were born in Tahrir Square that day. Hope for the future. A new politics led by youth. A revolutionary current, as H A Hellyer puts in his new book A Revolution Undone. […]
Stainless steel is regaining its shine. After falling victim like many other basic industries to the global commodities downturn, companies that specialise in the rustproof metal are enjoying a change in their fortunes. An upwards spiral in share prices, bigger profits and increased payouts to investors is helping to restore the lustre in this niche of the steel market. “It’s very clear we are now in a […]
BAGHDAD U.S.-backed Iraqi security forces closing in on the Islamic State-held western half of Mosul stormed the city’s airport and a nearby military base on Thursday, state television said. Counter-terrorism service (CTS) troops and elite interior ministry units known as Rapid Response descended on the airport early on Thursday and the nearby Ghozlani military complex, CTS spokesman Sabah al-Numan told state TV. “Our forces started a major […]
SK Hynix will consider making a fresh bid for Toshiba’s NAND flash memory business if the latter puts more on the table, the CEO of the Korean chip giant has said. SK Hynix CEO and vice chairman Park Sung-wook told reporters on the sidelines of a semiconductor conference in Seoul that if Toshiba puts forward a specific offer and schedule it will consider taking them. Park declined […]
AMD is giving what the people want, and it’s none other than Ryzen. That said, the company has finally disclosed the details everybody has been waiting for, from the release date and performance to the pricing and preorder info. Not 1 But 3 Ryzen 7 CPUs Unveiled To start things off, AMD is launching three Ryzen 7 CPUs, with each one sporting eight cores and 16 threads […]
The documents’ detailed account of Mr. Awlaki, who stars in Mr. Abdulmutallab’s story as both a religious hero and a practical adviser on carrying out mayhem, is particularly important. The government allegation that Mr. Awlaki was behind the underwear bomb plot — never tested in a court of law — became the central justification that President Barack Obama cited for ordering the cleric’s killing in a drone […]
Qantas has announced it successfully tested its on-board Wi-Fi system and expects to operate its first commercial service with free Wi-Fi in the next few weeks. Qantas chief executive Alan Joyce told shareholders on Thursday that the airline’s Wi-Fi offering will ultimately be rolled out to around 80 domestic aircraft, and later to Qantas’ international and regional fleets, noting that on-board Wi-Fi is the first item on […]
By Brenda Goh | DANDONG, China DANDONG, China As Beijing tightens its grip on trade with North Korea, the economies of Chinese towns along the 1,400-km border the two countries share are floundering. On Saturday, China said it would ban all coal imports from North Korea, the latest move to enforce United Nations sanctions aimed at depriving Pyongyang of hard currency for its nuclear weapons and ballistic […]
Instagram just introduced its most controversial feature since Stories. The app added the ability to attach up to 10 photos and video clips to a single post, which is either the absolute worst or, maybe, kind of okay — depending on where you stand. But no matter where you stand, the update will absolutely change how you share and view posts and it could take some getting […]
The first exhibition to be hosted at Dubai’s Etihad Museum will feature the country’s postal history from 1909 until its unification. Organisers pledge that it will be a virtual tour back in time, as each stamp marks a key event. Visitors under the age of 15 have a lot of questions about the first item at an exhibition dedicated to the history of Emirates Post. Although it […]
By Gina Cherelus | NEW YORK NEW YORK It cost New York City about $24 million to provide security at Trump Tower, President Donald Trump’s skyscraper home in Manhattan, from Election Day to Inauguration Day, or $308,000 per day, New York’s police commissioner said on Wednesday. The revelation prompted renewed calls for Congress to reimburse the city for the cost of protecting Trump’s private residence on Manhattan’s […]
