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 […]
SARAJEVO The Leader of Macedonia’s Social Democrats said he expected a new government to be formed in March, after his party agreed on all key issues with ethnic Albanian parties. “Now we have to agree on distribution of ministries and future government reform platform,” Zoran Zaev told reporters in Sarajevo. Macedonia’s conservative VMRO-DPMNE party won a slight majority in December parliamentary vote but failed to reach agreement […]
22 February, 2017 Trovagene, Inc. (NASDAQ: TROV), (San Diego, CA), a developer of circulating tumor DNA (ctDNA) technologies, signed a distribution agreement with AGBL (Dubai, UAE) to bring Trovagene Liquid Biopsy tests to AGBL’s markets. “Trovagene has innovative liquid biopsy solutions for cancer patients,” said Dr. Simona Maciotta, Product Manager at AGBL. “Their clinically, actionable, highly sensitive mutation assays will allow clinicians to make critical decisions about […]
Russia is pressing world powers to provide Syria with billions of dollars for reconstruction to bolster its faltering efforts to resolve the Arab state’s six-year conflict. But European and Gulf states, angered by Russia’s military intervention that tilted the war in favour of President Bashar al-Assad, will only contribute if Moscow secures a peace settlement that sets the terms for an eventual political transition, western diplomats say. […]
By Tom Miles and Stephanie Nebehay | GENEVA GENEVA U.N. mediator Staffan de Mistura said on Wednesday he did not expect an immediate breakthrough when Syria peace talks restart on Thursday but wanted productive talks that relaunch the process towards a political solution to end the six-year war. They will be the first U.N.-mediated negotiations on Syria in almost a year, during which time the military and […]
Analysts and traders alike were looking forward to today’s “black box” earnings from Tesla as it would be the first consolidated report that combined Tesla Motors operations with those from cash-bleeding monstrocity SolarCity following the pair’s merger, to wit: “with the acquisition of SolarCity, we have created the world’s only integrated sustainable energy company, from generation to storage to transportation.“ And, as usual, Elon Musk managed to […]
DUBAI: Combining the capabilities of the United Arab Emirates (UAE) and Saudi Arabia can create historic opportunities for their peoples and the whole region, said Sheikh Mohammed bin Rashid Al-Maktoum, UAE vice president and prime minister, and ruler of Dubai, WAM reported on Tuesday.He was speaking at a joint retreat on Saadiyat Island, attended by some 150 Emirati and Saudi officials to discuss the best ways to […]
Right to repair is back in the news because Apple is opposing a Nebraska bill that would require electronics companies like Apple to produce repair manuals and sell replacement parts. Apple only got involved because the bill—one of eight nationwide, according to Motherboard—threatens its software licenses. We saw a similar battle between farmers and John Deere, which asserted that ownership of John Deere equipment “does […]
Political uncertainty is slowing trade growth, a World Bank report has concluded, indicating that the rise of Donald Trump may already be casting a shadow over the global economy. Major international institutions such as the IMF, the OECD and World Bank have recently upgraded their forecasts of global economic growth largely due to expectations that tax cuts, rising infrastructure spending and a wave of deregulation will boost the […]
Photo Prime Minister Benjamin Netanyahu of Israel, left, with his host, Prime Minister Malcolm Turnbull, in Sydney, Australia, on Wednesday. The visit was a first by a sitting Israeli leader. Credit Jason Reed/Reuters SYDNEY, Australia — Prime Minister Benjamin Netanyahu of Israel was warmly welcomed here Wednesday by his Australian counterpart, Malcolm Turnbull, with the Israeli leader promoting the two countries’ growing ties as Israel faces rising […]
Vocus Communications has announced its financial results for the first half of FY17, revealing a net profit of AU$47.2 million, up from AU$24.2 million a year previous due to its acquisitions of M2 and Nextgen. Statutory earnings before interest, tax, depreciation, and amortisation (EBITDA) were AU$168.3 million, up from AU$60.7 million a year previous, while underlying EBITDA — excluding acquisition, integration, and other costs — was AU$187.2 […]
By David Brunnstrom | WASHINGTON WASHINGTON U.S. Secretary of State Rex Tillerson spoke by telephone with China’s top diplomat on Tuesday and affirmed the importance of a constructive U.S.-China relationship, and the two agreed on the need to address the threat posed by North Korea, the State Department said. Tillerson and Yang Jiechi, China’s state councillor who outranks the foreign minister, also discussed economics and trade as […]
Creditors of Saudi Arabia’s Al Ittefaq Steel Products, the country’s largest private sector steel manufacturer, have provisionally agreed to a 6.2 billion riyals ($1.7 billion) debt restructuring, banking sources told Reuters on Tuesday. The terms of the deal have still not been finalised but banks have reached an agreement in principle to give the company a two year window in which it would only pay interest on […]
Saudi Arabia has invited investors to submit requests to qualify for the first round of its $30-$50 billion National Renewable Energy Programme by March 20, it said on Monday. Saudi Arabia is targetting 9.5 GW of renewable energy by 2023 in line with Vision 2030, an economic reform plan launched last year to diversify the economy beyond oil. The renewable programme involves investment of between $30 billion […]
Verizon has announced that it will buy Yahoo’s core business after all, but at a $350 million discount since the internet company had two massive cyberattacks. The Verizon-Yahoo deal has been in the cards for a good while now and the companies have been negotiating the terms of the agreement. After two massive Yahoo data breaches came to light last year, however, the deal was not that […]
By Fergus Jensen | JAKARTA JAKARTA Saudi Arabia’s King Salman will visit Jakarta and Bali on the Indonesian leg of his Asian tour next month, bringing 1,500 people in his entourage including 10 ministers, Indonesian officials said. “This is a very historic visit for us,” Cabinet Secretary Pramono Anung told reporters on Tuesday, adding that the king would be in Indonesia from March 1 to 9. He […]
Yahoo agreed to take a $350m cut on the original $4.8bn sale of its core business to Verizon, becoming one of the first major US companies to revise deal terms because of a cyber attack. Verizon, the US telecoms company, will now pay the California-based internet company $4.5bn, Yahoo said on Tuesday, ending months of uncertainty about the future of the deal first agreed in July last year. […]
European markets regulators are examining a potential loophole in share-trading rules, which they fear promotes lightly regulated, private networks rather than placing curbs on trade away from public exchanges. Concern is mounting that the rules, which take effect from next January, could be exploited by some banks and high-frequency traders (HTF), to sidestep policymakers’ determination to make share trading more transparent. In an effort to improve trading […]
By Edward Taylor and Laurence Frost | FRANKFURT/PARIS FRANKFURT/PARIS PSA Group (PEUP.PA) has pledged to respect existing Opel and Vauxhall job guarantees if it buys the European arm of General Motors (GM.N), though some analysts say thousands of jobs are eventually likely to go for the deal to work. As part of a broader charm offensive, PSA Chief Executive Carlos Tavares met with representatives of powerful German […]
PARIS French socialist presidential candidate Benoit Hamon said on Tuesday he was confident about reaching an agreement with green party candidate Yannick Jadot by the end of this week. The two have been discussing a possible alliance under which Jadot would withdraw his candidacy and join forces with Hamon in the April-May election. “I am confident and optimistic that we can reach an agreement by the end […]
21 February 2017 Dubai – Auerbach Grayson & Company, LLC, a New York-based brokerage firm specializing in global trade execution and exclusive in-depth research on developed, frontier and emerging markets, announced today that it has partnered with Dubai-based Arqaam Capital, the specialist emerging markets investment bank, to provide U.S. investors with greater access to the Middle East and South Africa. Through its exclusive partnership with Arqaam Capital, […]
By Michael O’Boyle and Ana Isabel Martinez | MEXICO CITY MEXICO CITY Mexico’s central bank faces difficult decisions as it balances a spike in inflation against an expected economic slowdown, Deputy Governor Alejandro Diaz de Leon said on Monday. “We are in an especially complex environment,” Diaz de Leon told Reuters in an interview. Diaz de Leon pointed to the heightened risk of inflation from a weak […]
Kacific Broadband Satellites has announced that it will provide a 100Mbps satellite broadband service to under-served areas across more than 20 countries in South East Asia and the Pacific through a 702 Boeing satellite. The Kacific-1 satellite, being built by Boeing, will provide broadband via the projection of 57 Ka-band narrow beams targeted at geographically remote locations throughout those 20 countries, with the service to launch in […]
