When Federal Reserve chair Janet Yellen testifies before a Senate committee on the state of the economy on Tuesday, there will be plenty tuning in who believe the epitaph for the three-decade rally in the bond market has been rightly written. US president Donald Trump’s plan to ramp up government spending and axe corporate taxes threatens to accelerate inflation, push up interest rates and widen the deficit […]
By Rozanna Latiff and Ebrahim Harris | KUALA LUMPUR KUALA LUMPUR The slight girl in a turquoise headscarf held back tears as she recalled what happened when she fled to Malaysia from Myanmar’s violence-hit Rakhine state. Just 12-years-old at the time, she was forced to wed a man she did not know, and who was more than a decade older than her. The teenager, who is not […]
By Manolo Serapio Jr | SANTA CRUZ, Philippines SANTA CRUZ, Philippines His brother kept telling him that the mine would reopen and he would be hired again: but when Winston Ordonez didn’t get a call from a mining firm, he took a laptop charger cable, tied it around his neck and hanged himself in his kitchen. Ordonez worked at the nickel mine operated by Eramen Minerals Inc […]
An arrest warrant for Samsung boss Lee Jae-yong has been filed for a second time by special prosecutors investigating the Korean political scandal involving the country’s president. Investigators grilled Lee, the de facto boss of the entire Samsung business group, on Monday for 15 hours as a suspect. The court will review the filing Friday and decide whether to arrest him pending trial. He faces bribery charges […]
On Valentine’s Day everyone is looking to celebrate love. But if you are a millennial, then you might have no problems breaking up and trading in a lover for the limelight. According to a study conducted by the social entertainment network Clapit, some millennials have no problem choosing fame over falling in love, getting married and having children. Clapit, the mobile-first platform that aims to helps users […]
Goldman Sachs shares shattered a 10-year record to reach a fresh closing high on Tuesday, buoyed by hopes that the Trump administration will bring a profit-boosting mix of higher interest rates, lower taxes and lighter regulation. All banks have rallied hard since November 8, when Mr Trump beat Hillary Clinton in the race to the White House. But only a handful have done as well as Goldman, […]
The reaction to a strike at the world’s largest copper mine underlines the sharp reversal in fortune in one of the world’s key metals over the past four months. Copper has jumped 5 per cent in the past two days to a two-year high after a strike at the Escondida mine in Chile raised supply fears about a market that has been starved of investment. The dispute […]
By Steve Holland and Richard Cowan | WASHINGTON WASHINGTON U.S. President Donald Trump knew for weeks that national security adviser Michael Flynn had misled the White House about his contacts with Russia but did not immediately force him out, an administration spokesman said on Tuesday. Trump was informed in late January that Flynn had not told Vice President Mike Pence the whole truth about conversations he had […]
By Andrew Osborn | MOSCOW MOSCOW Russia’s parliament applauded on learning that Donald Trump had won the U.S. election. But prospects for better relations with Washington have suffered setbacks since then and the resignation of Trump’s national security adviser is the biggest blow yet. The Kremlin still believes a rapprochement is feasible, even if it might take longer than initially thought. But the clock is ticking: Vladimir […]
DHAKA Bangladesh police on Tuesday shot dead a suspected militant commander and a close aide of the mastermind of the cafe attack last year that killed 22 people, mostly foreigners, a police official said. Police said Abu Musa, 32, was a close associate of Jahangir Alam, one of the masterminds of the July attack who was arrested last month, and wanted for killings of religious minorities and […]
By Lucia Mutikani | WASHINGTON WASHINGTON U.S. producer prices recorded their largest gain in more than four years in January amid increases in the cost of energy products, but a strong dollar continued to keep underlying inflation at the factory gate tame. Rising raw material costs are boosting producer prices across the globe, notably in China, which is the biggest source of U.S. imports. But economists still […]
The US economy and fiscal policy face an uncertain path under the administration of Donald Trump, Janet Yellen warned on Tuesday as she declared “monetary policy is not on a preset course” but said it would be “unwise” to raise rates too slowly. Testifying before Congress on Tuesday, the Federal Reserve chair painted a picture of an economy with accelerating growth, higher inflation and a robust labour […]
The UAE shall take quality-focused steps to create a supportive environment for innovation at a legislative level and for educational system, economic and media segments, says UAE Economic Minister Dubai, February 14, 2017 Engineer Sultan bin Saeed Al Mansoori, Minister of Economy chaired the seminar on innovation and the future of economy at the World Government Summit, a global platform dedicated to shaping the future of government […]
PARIS France honored the A380 superjumbo with a place in its national aerospace museum on Tuesday, granting it equal status with the Boeing 747 even as questions pile up over the future of the industry’s biggest jets. The A380 test plane, the fourth to be built and the second to actually fly in 2005, flew to Le Bourget near Paris from Toulouse with 50 technicians who will […]
Fed Chair Yellen will be appearing before Congress deliver her semi-annual monetary policy testimony (sometimes called the “Humphrey-Hawkins” testimony) today. Her prepared remarks are expected to sound similar to her most recent speech, noting that the labor market has tightened and wage pressures are increasing modestly. As BofA details, she will likely note that the Fed is making progress toward its mandate of full employment and price […]
By Shadia Nasralla | VIENNA VIENNA An Austrian opposition lawmaker accused Turkey on Tuesday of operating an informer network via its embassy in Vienna that he said targets critics of President Tayyip Erdogan, promotes his policies and receives payments from Ankara. Peter Pilz, from the Austrian Greens, said he had sent documents to the police detailing the activities of the ATIB, an umbrella organisation headed by the […]
Getty Images/iStockphoto Operating systems are the core of our digital civilization. Hack-proofing them means that billions of devices – PCs, network switches, IoT devices, drones and much more – are much more secure. That forces cybercriminals to move up to less common layers of the software stack. special feature Cyberwar and the Future of Cybersecurity Today’s security threats have expanded in scope and seriousness. There can now […]
By Clare Baldwin and Andrew R.C. Marshall | MANILA MANILA Before Rodrigo Duterte’s bloody war on drugs had even begun, allies of the Philippines president were quietly preparing for a wider offensive. On June 30, as Duterte was sworn in, they introduced a bill into the Philippine Congress that could allow children as young as nine to be targeted in a crackdown that has since claimed more […]
Good morning. Here’s our morning roundup of all the media news you need to know. Want to get this briefing in your inbox every morning? Subscribe here. The Tuesday morning news shows were dominated by word that Michael Flynn is out as national security adviser. “Stunning” was the call by the Trump home team at “Fox & Friends.” It proceeded to quote its usual media pinatas in […]
Kim Jong Nam, the older half-brother of North Korean leader Kim Jong Un, has been assassinated at Kuala Lumpur airport, Korean-language media reported late on Tuesday. He was reportedly killed by two women using poisoned needles who fled the scene by taxi, the reports said. The older Mr Kim was once considered to be an heir to the late Kim Jong Il, North Korea’s former leader, but […]
A few days before the retreat, I met up with the man who, perhaps more than any other figure in the conservative movement, had maneuvered the party toward complete and unbending opposition to Obamacare: Michael Needham of the Heritage Foundation. Needham, 35, is the chief executive of Heritage Action for America, a feral cur of a lobbying organization established by the venerable conservative think tank in 2010 […]
A striking feature of global financial markets since the crises of 2007 and 2008 has been the high propensity of many wealthy private investors to sit out all the turmoil, holding cash in bank accounts rather than in riskier assets. Might that be about to change? The word among bankers in conservative Switzerland — the world’s largest centre for cross-border private wealth management — is that it […]
Tenants in Dubai could have the upper hand when negotiating rental rates thanks to a significant amount of stock coming to the market in 2017, according to real estate consultancy Asteco. Its new report said there are 31,500 apartments and 12,500 villas and townhouses scheduled to be delivered this year in areas including City Walk by Meraas, Damac’s Akoya, Dubai Wharf by Dubai Properties and Emaar’s Mira. […]
The Board of Directors of the Financial Intelligence Analysis Unit has appointed a new Director following a public call for applications, as stated in a press release issued by the government, named Kenneth Farrugia. Mr Farrugia’s term comes starts from 13 February 2017. The appointment follows a public call for applications as well as an interviewing process which involved several applicants, a short listing process […]
