Theresa May has set out the terms of a new grand bargain with business, where the government invests to boost productivity and cuts corporation tax, in exchange for help tackling the worst excesses of capitalism. Setting out her business strategy, the UK prime minister proposes in the Financial Times a pact with corporate Britain to work together to defend capitalism, free markets and free trade from populist […]
Photo President Hassan Rouhani of Iran, center, at a welcome ceremony earlier this month in Karaj, just west of Tehran, has said that his country will remain committed to a nuclear deal with the United States and other world powers. Credit Office of the Iranian Presidency, via Associated Press TEHRAN — At first blush, the election of Donald J. Trump would seem to be bad news for […]
By Henning Gloystein | SINGAPORE SINGAPORE Oil prices rose around 1 percent on Monday as OPEC moved closer to an output cut to rein in oversupply that has pressured prices for over two years. Brent crude futures LCOc1 were trading at $47.31 per barrel at 0743 GMT, up 65 cents, or 0.96 percent, from their last settlement. U.S. West Texas Intermediate (WTI) CLc1 was up 0.9 percent, […]
November 21, 2016 by: Peter Wells in Hong Kong and Michael Hunter in London Monday 08.00 GMT. Oil prices are making notable gains, tracking the prospect of a deal on output cuts between major producers, setting Brent crude on course for its first two-session advance since early October. Brent crude, the international benchmark, is up 1.3 per cent at $47.47 a barrel, while West Texas Intermediate is […]
November 21, 2016 by: Shawn Donnan and Andres Schipani in Lima US President Barack Obama wrapped up his final official trip abroad with a call for his successor Donald Trump to live up to America’s responsibility as an “indispensable nation” in the world, and to bolster the international order it had helped create. Amid fears that Mr Trump’s election victory on the back of a populist anti-internationalist […]
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By Mitra Taj and Jeff Mason | LIMA LIMA Pacific rim leaders said on Sunday that they were committed to fighting “all forms of protectionism,” and encouraged signatories of the TPP trade pact to continue supporting it despite fears it may not have a future in its current form. “We reaffirm our commitment to keep our markets open and to fight against all forms of protectionism,” the […]
India’s government is taking a hardline stance over renewing a trade deal with the Netherlands just days before it expires, which European officials warn could undermine business ties with the rest of the EU. The bilateral investment treaty between the two countries will end on November 30 — the first in a succession of such agreements that New Delhi has decided to terminate as it looks for more […]
RIYADH, SAUDI ARABIA : 20 November 2016 Thomson Reuters announced today that it was selected as benchmark administrator and calculation agent for the Saudi Arabian Interbank Offer Rate (SAIBOR). The appointment is part of an agreement with the Saudi Arabian banking industry. The arrangement is authorised by the Saudi Arabian Monetary Authority (SAMA), as part of its regulatory mandate over the banking sector, where this initiative will […]
ABU DHABI // The UN High Commissioner for Refugees has praised the UAE’s pledge to take in 15,000 Syrian refugees, calling it an example for other countries to follow. “It is something I was very happy to hear in New York,” said Filippo Grandi, the UN high commissioner who was in Abu Dhabi on Saturday for the Sir Bani Yas Forum, at which the Middle East’s greatest […]
Chinese president Xi Jinping vowed on Saturday to open the door even wider to foreign business and play an even greater role in the process of globalisation as Beijing moved to take advantage of Donald Trump’s election and fears that he may herald a new era of US disengagement from Asia. Speaking to business leaders on the sidelines of a 21-country Asia-Pacific Economic Cooperation summit in Peru, […]
1979: A threatening revolution Saudi Arabia, a young country pieced together only in the 1930s, has built its legitimacy on religion. By promoting its stewardship of the holy sites at Mecca and Medina, it could justify its royal family’s grip on power. Continue reading the main story Iran’s revolution, in 1979, threatened that legitimacy. Iranians toppled their authoritarian government, installing Islamists who claimed to represent “a revolution […]
By Mitra Taj and Caroline Stauffer | LIMA LIMA Chinese President Xi Jinping pledged on Saturday to further open the world’s second-largest economy as leaders of Asia-Pacific countries gathered in Peru to find new free-trade options after Donald Trump was s elected U.S. president on a protectionist platform. The annual APEC summit got under way in Lima just over a week after Trump’s surprise victory dashed hopes […]
It may not get the international acclaim of Dubai or the media attention of Doha, but Ras Al Khaimah (RAK) is quietly making its mark. Famed largely for bringing the world RAK Ceramics, the northern UAE emirate is forging a serious reputation on the global business stage. Be it in tourism, free zones, property or infrastructure, everywhere you look in RAK, something new is springing up. And […]
Iuna Al Hashemi remains remarkably calm as she discusses the “very challenging” business year for Bahrain’s national telco, Batelco. Once a monopoly, Batelco is now facing a crowded market, with strong competition from Kuwait’s Zain and Saudi Telecom Company-owned VIVA, as well as about ten internet providers for 1.4 million residents. Current economic conditions are making it increasingly difficult to keep up margins. Batelco Group, the […]
19 November 2016 MARRAKECH, Morocco (19 November, 2016) – In response to the close of COP22, Manuel Pulgar-Vidal, leader of WWF International’s Climate & Energy Practice, issued the following statement: “The UN climate talks continue to be filled with twists and turns, but they have delivered what they needed to this week – putting substance behind the promise of the Paris Agreement so it can be fully […]
When the UAE implements its framework for public-private partnerships, as announced earlier this month, there will be a list of potential projects up for grabs. But none is more urgent than the commuter corridor between Dubai and Sharjah. Conspicuously neglected, Al Ittihad Road is arguably the worst bottleneck in the country, if not the region. The three-lane highway is guaranteed to turn into a car park — […]
As SHTFPLan.com’s Mac Slavo notes… While the powers that be are determining the fate of alternative media voices that are now branded under the dubious label “fake news” and blacked out from online search results, it is worth keeping in mind all the disinformation and downright lies that have been perpetrated by the corporate news media – typically hand in hand with a political agenda. Whether […]
19 November 2016 • 46 Emirati enterprises from diverse sectors among beneficiaries• “Our goal is to boost SME productivity and sustainability,“ says Abdul Baset Al Janahi• Dubai Holding CEO: We are aligned with the government’s agenda to develop the SME sector, and committed to supporting Emirati entrepreneurs Dubai, 19 November 2016: Members of Dubai SME, the agency of the Department of Economic Development (DED) mandated to develop the small and […]
The House of Representatives voted overwhelmingly on Tuesday for legislation to extend American sanctions on Iran for 10 years, a move that proponents called critical economic leverage to ensure Iranian compliance with an international nuclear agreement. The legislation, known as the Iran Sanctions Extension Act, needs Senate approval and President Obama’s signature before the end of the year, when American sanctions are set to expire. Under the […]
By Rosalba O’Brien and Mitra Taj | LIMA LIMA Leaders of Pacific rim nations scrambled to find new free-trade options on Friday as a looming Donald Trump presidency in the United States sounded a possible death knell for the Trans-Pacific Partnership (TPP). After lower-level meetings, U.S. President Barack Obama, Chinese President Xi Jinping, and Russian President Vladimir Putin were due to arrive at the Asia-Pacific Economic Cooperation […]
The Trump trade — sell government bonds because his policies might cause inflation and require huge new borrowing — has already produced a common counter reaction: do not get carried away, this is an opportunity to buy Treasuries before yields collapse again. What it shows is a conditioned response. The first time your dog barks in the night, you leap out of bed with a head full […]
Saudi Arabia’s energy minister thinks OPEC will reach a deal to cut oil output and said a production ceiling of 32.5 million barrels a day would speed the balancing of supply and demand. The group is near a consensus on capping production for at least six months, said his Algerian counterpart. “I am still optimistic that the agreement reached in Algiers to put a ceiling to production […]
By Patrick Rucker | WASHINGTON WASHINGTON A leading U.S. bank regulator on Friday reversed course and positions the agency to claw back pay of former executives at Wells Fargo & Co after a phony-accounts scandal. The lender must also now seek prior approval before naming new bank leadership, said the Office of the Comptroller of the Currency, the main regulator for federal banks. Friday’s move puts executive […]
