JPMorgan Chase & Co. (JPM), the biggest U.S. lender, is cutting hundreds of technology support employees in its corporate and investment bank amid a revenue decline, people with knowledge of the move said. Workers in locations including New York, Tampa, Chicago and Dubai were notified of the cuts this month, said the people, who asked not to be identified because they weren’t authorized to discuss the matter. […]
When Finance Minister Arun Jaitley kept the FDI cap in defence at 49 per cent, he said: “Our assessment of the market is that the 49 per cent FDI limit in the sector would be a significant step in establishing domestic defence market. The public opinion and Parliament’s opinion in India is ready to accept the proposal that I have made.”
Mr. Jaitley was also in consonance with the policy sentiment that has evolved within the government over many years. As far back as in 2004, key economists argued before the Planning Commission that 100 per cent FDI in high technology would enable India to reduce or limit its technology imports; in 2008, the National Manufacturing Competitiveness Council constituted by former Prime Minister Ma
A broker monitors stock prices on a screen at the Saudi Investment Bank in Riyadh. Saudi Arabia plans to open its stock market, the Arab world’s biggest, to direct investment by foreign financial institutions in the first half of next year. Reuters With a market capitalisation of more than half a trillion dollars, Saudi Arabia’s plan to allow foreigners direct access to its listed companies early next […]
A view of southwestern Syria in late April, from an Israeli lookout post in the Golan Heights. Israel has placed soldiers in the Golan to stand guard against any Syrian attack. Nicholas Casey/The Wall Street Journal GOLAN HEIGHTS—Each morning after sunrise, soldiers from the Israel Defense Forces stand on a hill and look into their binoculars over two parallel fences topped in barbed wire that stretch out […]
A supporter of Abdel-Fattah el-Sisi during a celebration at Tahrir Square in Cairo Tuesday, June 3 (AP Photo/Amr Nabil) Associated Press Tamer El-Ghobashy, one of The Wall Street Journal’s Cairo-based reporters, hosted a Reddit AMA (Ask Me Anything) Wednesday. He answered questions on Egypt’s newly-declared president, former military chief Abdel Fattah Al Sisi; ousted Egyptian leader Mohammed Morsi; and about reporting from the country. The full AMA […]
Egyptians celebrate in Cairo’s Tahrir Square on June 3 after ex-army chief Abdel Fattah Al Sisi won 96.9% of votes in Egypt’s presidential election. Getty Images Tamer El-Ghobashy for The Wall Street Journal Tamer El-Ghobashy, one of The Wall Street Journal’s Cairo-based correspondents, will host a Reddit AMA (Ask Me Anything) on Wednesday, June 4, at noon ET. Mr. El-Ghobashy will answer questions on everything from Egypt’s presidential elections, expectations […]
Three Saudi lawyers were sentenced this week to fines of more than 1 million Saudi riyals ($266,666) in total and a complete media ban after they criticized the kingdom’s Ministry of Justice on Twitter. The lawyers were also ordered to issue a formal apology to Justice Minister Mohammed Al Isa. In complaints filed last November with a Ministry of Culture and Information’s legal committee responsible for looking […]
Voters at a polling station in the Maidan district of Damascus were regaled by Damascene sword dancers and Assad chants. Syria went to the polls Tuesday, despite a civil war that has killed tens of thousands and displaced millions. Pro-government voters stuffed ballot boxes and held rallies outside polling stations as Syrians in regime-held areas of the country cast ballots in an election widely seen as a bid […]
Global airline executives might have gathered in Qatar for their annual general meeting this week to bemoan their lack of profitability, but the event itself was certainly not short of a dime or two. The title sponsor and host of the IATA AGM was Qatar Airways – and the Gulf state’s flag carrier wasted no time in using the annual mix of conference, talking shop and lavish […]
Inside a nondescript office building in central London, a roomful of men and women sit at computer screens and talk over Skype with people in faraway places. Sharp-edged Cantonese fills the air, and a flat-screen TV emits a continuous din. It’s the chanting, singing Midlands crowd at Birmingham, England’s Villa Park Stadium: Liverpool at Aston Villa. The match has just kicked off. The name of the company, […]
|By TAP Staff|Australasia was the fastest-expanding market for Dubai International in the first quarter, up 21.9 percent on the previous year, as a direct result of the partnership between Qantas and Emirates, the Wall Street Journal reported quoting Dubai Airports sources. Both North America and Asia, two markets where Emirates has expanded routes recently were pipped by Australasia. Dubai has become a popular stopover for Australians en […]
A controversy over cutting down centennial trees to pave the way for building a military academy in one of Jordan’s shrinking forests is taking center stage once again. Environmental NGOs and activists held an emergency meeting Saturday to halt what they called an illegal chopping of trees by the Jordan Armed Forces in Bergesh forest, near the city of Ajloun – some 90kms north west of Amman. […]
The U.S. Federal Bureau of Investigation and the Securities and Exchange Commission are investigating possible insider trading involving billionaire investor Carl Icahn, golfer Phil Mickelson and Las Vegas gambler William Walters, a source familiar with the matter said. Federal investigators are looking into whether Mickelson and Walters may have traded illegally on private information provided by Icahn about his investments in public corporations, the source told Reuters, […]
Asian shares edged higher on Friday, catching a lift from another record close on Wall Street, while the dollar groaned under the pressure of slumping U.S. yields. The S&P 500 index .SPX posted its third record closing high in four sessions, as investors shrugged off the first quarterly contraction of the U.S. economy in three years and focused on signs of a strengthening labor market. MSCI’s broadest […]
Beirut, Lebanon – This was not an ordinary voting day. It was a parade of Syrians celebrating their embattled president, Bashar al-Assad, and expressing support for him in the battle to quell the uprising that erupted three years ago. Since early morning, tens of thousands of Syrians flocked to the heavily fortified area surrounding the Syrian embassy in Lebanon as expatriate voting began ahead of the June […]
Bavaguthu Raghuram Shetty moved to the United Arab Emirates from India nearly 40 years ago and made his fortune by building a hospital chain and money exchange group from scratch. Last week, he bought Travelex, the foreign exchange operator, for an undisclosed sum but what is likely the biggest investment of his career. In an interview with The Wall Street Journal, Mr. Shetty said he plans to […]
Asian shares hit one-year high on Monday thanks to a strong session on Wall Street and a decisive win for billionaire Petro Poroshenko in Ukraine’s presidential election. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.15 percent while Japan’s Nikkei share average gained 0.7 percent to hit one-month high. Investors took their cue from upbeat U.S. hosing data on Friday, with sales of new single-family homes […]
Pope Francis at Israel’s separation barrier Associated Press BETHLEHEM, West Bank–Palestinians had been hoping that the papal visit to the West Bank would kick up international sympathy with their campaign for statehood and against Israel’s military occupation of the West Bank, and many were pleased with his actions. “It’s a great day for Palestine par excellence,” Palestinian Parliament Member Mustafa Barghouti said after after Pope Francis finished a […]
Orthodox Jews protested against the forthcoming visit of Pope Francis to Jerusalem. Josh Mitnick/Wall Street Journal Pope Francis wants to spur interfaith tolerance during a trip to the Holy Land, but a planned Papal mass at a Jerusalem holy site is stoking the embers of religious rivalry that have plagued the city for centuries. Just days before the Pope’s arrival, hundreds of religious Jews turned out at […]
Apple’s blockbuster acquisition of Beats Electronics isn’t for technology. It’s for the talent. Apple reportedly wants music industry heavyweights Jimmy Iovine and Andre Young a.k.a. Dr. Dre on its executive board.(Photo : Beats Music) Apple’s rumored $3.2 billion acquisition of Beats Electronics is still happening, even though sources say the deal almost did not pull through several times, because Apple wants Jimmy Iovine and Dr. Dre on […]
The MIT Enterprise Forum Arab Startup Competition, one of the biggest startup events in the Middle East, will announce its winner on Thursday evening at an event in Cairo. Here’s the five startups that caught the Wall Street Journal’s eye from the shortlisted semi-finalists. Elwafeyat.com: The concept of Cairo-based Elwafeyat.com is dead easy to understand. The website is an online platform to honor deceased family members and […]
A severe shortfall in international support has left many Syrian refugees in Lebanon unable to access crucial medical care, according to a new report from Amnesty International. “In some cases, refugees have preferred to return to Syria, to receive the needed treatment” in spite of the dangerous security situation there, the report, entitled Agonizing Choices: Syrian refugees in need of health care in Lebanon, said. The situation […]
What do you do if you are a cheerful 25-year-old college student in Iran tired of your country and its people being portrayed in the world as angry, provocative and depressed? Answer: You make a video of your friends being happy, singing and dancing in the streets of Tehran to Pharrell Williams’ smash hit song “Happy.” “People of Tehran are happy! Watch and share our happiness! … […]
FIFA, the governing body of world soccer, is no stranger to controversy. Allegations of bribery, corruption and vote-rigging have swirled around the organization for years, many of them recently centered on Qatar and its winning bid for the 2022 World Cup. Jerome Champagne, a French former diplomat and FIFA executive, wants the chance to right the ship. Jerome Champagne is running for FIFA president next year. Reuters […]
