Before he was elected to be the next US president, Donald Trump had garnered the support of just one prominent billionaire in Silicon Valley: billionaire Peter Thiel, founder of PayPal and Facebook board member. The US technology industry had been shocked that one veteran from the Valley, which prides itself on liberal values, had supported, funded and even spoken for Mr Trump at his convention — and […]
By Sumanta Dey | BENGALURU BENGALURU After Donald Trump’s unexpected victory in the U.S. presidential election, investors may refocus in the coming week on the health of the world economy and any signs that years of rock-bottom interest rates and fiscal austerity are coming to an end. Trump’s victory poses a major challenge to the conventional wisdom on the global economy, which for years has relied on […]
By Sinead Carew | NEW YORK NEW YORK The U.S. banking sector’s dramatic rally post Election Day is likely just a taste of bigger gains to come, as investors expect banks to reap huge benefits from rising interest rates and lighter regulation under a Donald Trump presidency. In recent years, bank stocks have been held back by heavy regulation and historically low interest rates which have sapped […]
Donald Trump has appointed Mike Pence, his running mate, to head his transition team as he prepares to start naming people to fill top posts in his administration. Mr Trump also appointed four members of his family, including his daughter Ivanka and her husband Jared Kushner, along with the financiers Anthony Scaramucci and Steven Mnuchin. The team will also include Stephen Bannon, his campaign chief executive, Reince […]
Warren Buffett has thrown his weight behind scandal-hit Wells Fargo, saying it is “a great bank that made a terrible mistake” whose new chief executive Tim Sloan is “exactly right” for the top job. Breaking his months-long silence on the debacle, the head of Berkshire Hathaway, the bank’s biggest shareholder, confirmed he has not sold any shares after the scandal erupted over sales practices. The famed investor […]
The International Monetary Fund approved a $12 billion loan program for Egypt to restore investor confidence and help revive an economy battered by years of political turmoil. The Washington-based lender’s executive board approved the three-year loan on Friday. Approval of the IMF loan program, the largest of its kind on record in the Middle East, comes a week after Egypt floated its currency to end a crippling […]
Iran, which has said it’s exempt from OPEC’s accord to cut production, told the group it raised output by the most since international sanctions were lifted. Iraq, unwilling to curb its supplies, reported a higher level than OPEC’s estimates. Freed from curbs on its oil trade in January, Iran said it increased output by 210,000 barrels a day to 3.92 million a day in October from the […]
The EU is ready to use punitive anti-dumping tariffs on imports — such as steel — after a UK-led blocking minority of countries opposed to the reforms collapsed. Britain had been part of an alliance set on scuppering the plan as unnecessary and protectionist. But on Friday the Netherlands and Austria indicated that they would throw their weight behind the proposal, leaving the UK likely to be outnumbered when […]
By Yashaswini Swamynathan U.S. stock index futures fell sharply on Friday as investors tailored their portfolios to benefit from president-elect Donald Trump’s proposed policies. The decline on Nasdaq futures was more pronounced. Facebook (FB.O), Apple (AAPL.O), Netflix (NFLX.O) and Alphabet (GOOGL.O) were off more than 1 percent in premarket trading, indicating that Thursday’s selloff in the technology sector was likely to continue. Investors also appeared to be […]
Ever since Microsoft launched the first Surface device, the company has been pushing to get creative apps in the Windows Store in hopes to have creators switch from the Mac to Windows. So far, the company has been doing a decent job, and the latest app to cross over is Affinity Photo. The app began life on Mac OS X, but now it’s coming to Windows 10. […]
By David Randall | NEW YORK NEW YORK Donald Trump’s surprise victory in the U.S. presidential race is pushing mutual fund managers out of dividend stocks and into the shares of financial, industrial and materials companies that stand to benefit from rising inflation. Although inflation remains subdued by most measures, U.S. longer-dated Treasury yields rose on Thursday to their highest levels in more than 10 months after […]
Xbox One may already be cementing its position as the best-selling console in the United States after consistently beating PlayStation 4 in the past four months. This is considered the longest Xbox One dominance in the history of the consoles’ rivalry since they were both launched in November 2013. Xbox One October Sales The information is based on data gathered by The NPD Group and GfK Entertainment […]
The Android 7.1-based CyanogenMod 14.1 (CM14.1) nightlies have landed. Technically, CM14.1, the latest version of the community-built Android distribution was already launched a few days ago with an experimental build roll out for the OnePlus 3. Now, more devices can get a taste of CyanogenMod 14.1 as handful of nightly builds get pushed out. In a blog post Tuesday, Nov. 8, CyanogenMod project founder Steve Kondik announced […]
Representatives from Breakthrough Listen launched Nov. 7 the Parkes Radio Telescope, a $100 million project that had been going on for a decade, in the attempt to seek extraterrestrial life. The telescope is currently looking for proof in the vicinity of Proxima Centauri after the discovery of a possibly habitable planet in August 2016. Humanity’s interest in discovering alien life has gained traction along with the technological […]
ABU DHABI // Mass extinction of species, how to boost economic growth without harming the planet and the effects of mass agriculture are all issues to be addressed at the Cop 22 summit. The meeting in Morocco, which began this week, follows last year’s Paris Agreement, where 196 countries committed to reducing global warming to less than 2°C. One of the major discussion points is that the […]
DUBAI// A maid confessed to stealing cash from her sponsor, but told judges that she took Dh10,000 less than what her employer claimed. The 28-year-old Filipina appeared at the Dubai Criminal Court charged with stealing Dh25,000. “But I didn’t steal Dh25,000 like they said, I only took Dh15,000,” said the woman. The court was told the maid had been stealing cash from her employer’s home since April […]
MUMBAI Tata Motors (TAMO.NS) said on Friday that Tata Sons has called for an extraordinary general meeting to oust two directors, Cyrus Mistry and Nusli Wadia, from the automaker’s board, as the nasty spat between the Tata and Mistry camps escalates. In a securities filing, Tata Motors said top shareholder Tata Sons, which controls a 26.51 percent stake in the automaker that owns luxury brand Jaguar Land […]
UAE. In the GCC, healthcare, industrials & materials and financial services have recorded the largest fluctuations in mergers and acquisitions (M&A) activity, despite the gradual decline witnessed by the industry since 2014. According to research published today in The Boston Consulting Group’s (BCG) 2016 M&A Report, Masters of the Corporate Portfolio, companies that regularly acquire and divest businesses as part of their corporate strategy consistently outperform less […]
Saudi Arabian stocks extended their winning streak to six days, entering a bull market as investors bet the government’s belated payments to contractors would help spur more gains. The Tadawul All Share Index added 2.3 percent to the highest level since July, taking its rally this week to 7.7 percent. The gauge has advanced more than 20 percent since a recent low on Oct. 3, crossing the […]
Emirates and the Gulf’s two other major airlines are likely to get pride of place at Frankfurt airport’s new terminal, allowing them to offer bigger premium-class lounges to compete more aggressively with local rival Deutsche Lufthansa AG. Frankfurt’s Terminal 3 will probably house Qatar Airways and Etihad Airways PJSC of Abu Dhabi, as well as Dubai-based Emirates, the world’s biggest carrier on international routes, Matthias Zieschang, chief […]
The United Nations implored all sides in the Syria conflict on Thursday to allow food deliveries to rebel-held eastern Aleppo, where roughly 250,000 residents, under siege for months, just received their last rations. Russia appeared to reject the plea. “I don’t think anybody wants a quarter of a million people to be starving in east Aleppo,” Jan Egeland, the United Nations official in charge of a humanitarian […]
ABU DHABI // Abu Dhabi’s environment agency insisted that it carries out strict monitoring of water quality, after a UAE University study suggested industry in Mussaffah was causing pollution that could harm the area’s marine ecology. Scientists at UAE University had discovered that some metals were several times more common in samples collected close to industry compared with those taken from farther away. The Environment Agency Abu […]
ERBIL, Iraq — More than two years ago, a Christian farmer in his 70s named Mosa Zachariah fled his village near Mosul with, as he put it, only the pants he was wearing. He left behind his house, “tons of wheat” and a BMW. But now that his town, an early target of the Iraqi security forces as they advance on Mosul itself, has been cleared of […]
London-based gold dealer Sharps Pixley Ltd. is running out of bars and coins as buying surges after Donald Trump won the U.S. presidency. The company’s store, a short walk from Buckingham Palace, has arranged emergency imports of Britannia coins and kilogram (2.2 pound) bars to meet demand. The frenzy began on its website overnight and continued in store this morning, Chief Executive Officer Ross Norman said by […]
