U.S. stocks looked set to open little changed on Friday, with all three major indexes near record highs, a day after Federal Reserve Chair Janet Yellen sent a strong signal that interest rates would be increased next month. The Fed could raise rates “relatively soon”, Yellen said in a congressional testimony on Thursday, adding that she would serve out her term. Traders are pricing in an 83 […]
The market interpretation of the US election result can be expressed in just three letters, repeated several times: “USA! USA! USA!” Amid the noise that followed last week’s election victory for Donald Trump, one signal was clear — whatever the outcome will be the US, it will be far worse for the rest of the world in general, and emerging markets in particular. Outside of financial crises, […]
HONG KONG Chinese telecoms equipment group ZTE Corp (000063.SZ) (0763.HK) said on Friday it has won a further reprieve to Feb. 27 on export restrictions that were imposed on the company by the U.S. government. In March, the U.S. Commerce Department hit ZTE with some of the toughest-ever U.S. export restrictions for allegedly breaking sanctions against Iran but has since issued temporary reprieves on the curbs. The […]
WOLFSBURG, Germany Volkswagen (VOWG_p.DE) unveiled plans to cut 23,000 jobs in Germany to help achieve 3.7 billion euros ($3.92 billion) in annual savings by 2020 to turn around its core brand and help fund a shift to electric and self-driving cars following its emissions scandal. The agreement foresees a 25 percent improvement in productivity at German plants, the company said at a news conference on Friday. The […]
From the moment we step into a doctor’s office or hospital ward, technology is used to test, diagnose and treat us. It ranges from things we consider basic, such as the stethoscope and thermometer, to some incredibly advanced technologies that tell us the intricacies of our brains or what’s going on inside a small joint. At Cleveland Clinic Abu Dhabi, a 24-hour epilepsy-monitoring unit is revolutionising the […]
18 November 2016 MARC has affirmed the rating of AAA(fg) on special purpose vehicle TRIplc Ventures Sdn Bhd’s (TVSB) RM240.0 million Senior Medium-Term Notes (Senior MTN) Programme with a stable outlook. Both the affirmed rating and outlook are premised on the credit strength of an unconditional and irrevocable guarantee provided by Danajamin Nasional Berhad (Danajamin) on the Senior MTN obligations. Danajamin carries a financial insurer rating of […]
Friday 06:00 GMT. The US dollar continues to push higher and sovereign bonds remain under pressure, while major equities benchmarks are on track to finish the week on a positive note. European bourses are expected to open firmer, with spreadbetters predicting the UK’s FTSE 100 will add 5 points to 6,800 and Germany’s Dax to gain 30 points to 10,716. US index futures suggest the S&P 500 […]
Findings of a new study have revealed another danger of getting bitten by mosquitoes. It turns out that these bugs that carry Zika virus and chikungunya virus can infect people with two viruses in a single bite. Chikungunya And Zika Virus In One Bite For the new study presented at the 2016 Annual Meeting of the American Society of Tropical Medicine and Hygiene on Nov. 14, researchers found […]
When Iran conducted a mass hanging in August of Sunni prisoners accused of attacks in its restive western Kurdish region, the executions were widely criticized as an egregious human rights violation. But death-penalty opponents also were appalled at what came next. Videos that showed apparently coerced confessions of the prisoners — interwoven with ominous-sounding music and clips of unrelated assaults by militants of the Islamic State — […]
November 17, 2016 by: Anjli Raval, Oil and Gas Correspondent Worries are growing that a build-up of unsold oil off the coast of the UK will keep prices down as the broader market surplus increases pressure on Opec to cut production. Industry analysts and shipbrokers said an excess of light sweet crudes, has led to a surge in the number of Aframax tankers — which carry around […]
|By Arabian Post Staff|The launch of video calling facility for the popular Whatsapp messenger application has set off a controversy following Facebook chief Mark Zuckerberg’s indirect dig at the policy of the UAE telecom regulatory authority in blocking certain features of the social network’s popular app. Zuckerberg had announced on Facebook on Tuesday that video calling would be possible on Whatsapp, which prompted a Maldivian living in […]
Diego Maradona has officially opened a new restaurant in Abu Dhabi, in celebration of his 56th birthday. The Argentinian retired footballer appeared at his venture, Café Diego, located in the Nation Galleria mall on the West Corniche, earlier this month. It had been in a soft opening phase since May. The restaurant features Argentine architecture, inspired by Maradona’s hometown of Buenos Aires, and serves traditional Argentine dishes, […]
Members of Donald Trump’s administration will have to agree to a lifetime ban on lobbying for foreign governments, his transition team said on Thursday, as the president-elect seeks to reassure voters that he is sticking to his promise to rid Washington of cronyism and corruption. Mr Trump ran on a campaign to “drain the swamp”, but his transition team has sputtered in recent days, flip-flopping on whether it will […]
Rising market expectations for growth and inflation were not the only things behind the selling pressure on US Treasuries after the US election. One gauge of long-term Treasury market risk known as the term premium has also climbed. The day after the election of Donald Trump as the next US president, the 10-year term premium made its biggest single-day jump since 2011. The move was within the […]
The UAE’s workers will get a three-day holiday to mark UAE National Day and Commemoration Day at the start of next month. The Federal Authority for Government Human Resources has announced that public and private sector worker will have a holiday from Thursday December 1 to Saturday December 3, giving one day off from the regular working week. Workers will return to work on Sunday December 4. […]
Photo Nusra Front fighters in Idlib Province, Syria, in 2015. In what analysts say is a calculated move to hide ties to Al Qaeda, the Nusra Front recently rebranded itself and changed its name to Jabhat Fath al-Sham, or the Levant Conquest Front. Credit Ammar Abdullah/Reuters American officials accuse him of being part of the “inner leadership circle” of Al Qaeda’s Syrian affiliate, most widely known as […]
Federal prosecutors have charged a former Valeant manager and the former chief executive of Philidor, a defunct pharmacy chain, alleging the pair operated an illegal kickback scheme to personally enrich themselves to the tune of tens of millions of dollars. New York prosecutors alleged that Gary Tanner of Valeant and Andrew Davenport of Philidor secretly worked together to promote a deal under which the Canadian drugmaker purchased […]
Amid all the attempts to guess what Donald Trump’s election means for Europe’s trade, security and populist politicians, one conclusion stands out: his administration may be good news for the European Central Bank. The reason is not any particular act by the president-elect; rather, it is the reaction of markets, which could help the European economy and give the central bank more room to act. Foreign exchange […]
By Lucia Mutikani | WASHINGTON WASHINGTON U.S. consumer prices recorded their biggest increase in six months in October on rising gasoline costs and rents, suggesting a pickup in inflation that potentially clears the way for the Federal Reserve to raise interest rates in December. Prospects for a rate hike next month also got a boost from other data on Thursday showing first-time applications for unemployment benefits tumbling […]
JPMorgan has agreed to pay $264m to settle a US probe into its employment of well-connected Chinese “princelings” to win business. The settlement, expected to be announced on Thursday, would be the first to arise from a Securities and Exchange Commission inquiry launched in 2013 to determine whether bank hiring practices breached the US Foreign Corrupt Practices Act. The 1977 law bans companies from paying bribes to […]
Janet Yellen, the Fed chair, is signalling that the US central bank is reluctant to delay its next increase in short-term interest rates “for too long”. Ms Yellen is due to say on Thursday morning that as the Fed sees the case for a rise in rates continuing to strengthen, it “must remain forward-looking in setting monetary policy”. “Were the [monetary policy committee] to delay increases in […]
LONDON Battered bonds and emerging market currencies enjoyed some respite on Thursday as the dollar took a breather from a post-U.S. election charge that has taken it to a 13-1/2 year high. Wall Street looked set for a quiet start and Europe’s main stock markets <0#.INDEXE> were shuffling sideways as the dip in global bond yields cooled bank stocks, which have been rising on better lending profits. […]
“When the economic crisis hits the elite, it means the suffering is all over the place,” said Malak Rostom, the vice president of the student union. “If we can’t afford it, we can tell how much other people are suffering.” Continue reading the main story Some Egyptians may sneer at the problems of the children of middle- and upper-class families, worried about tuition increases that dwarf the […]
UK retail sales grew rapidly in October as consumers — yet to experience the impact of the weaker currency — continued to spend and colder weather boosted clothing sales. The seasonally adjusted volume of sales was 1.9 per cent higher in October than in September, the Office for National Statistics said on Thursday. Sales were boosted by strong growth in clothing and footwear as the end of […]
