Wall Street opened slightly higher on Thursday, led by banks, after the Federal Reserve expressed confidence in the strength of the economy. However, gains were limited by a fall in technology and energy stocks. The Dow Jones Industrial Average rose 25.49 points, or 0.12 percent, to 20,983.39. The S&P 500 gained 3.14 points, or 0.13 percent, to 2,391.27 and the Nasdaq Composite added 6.60 points, or 0.11 […]
BOGOTA A member of a United Nations team working on a project in Colombia to substitute illegal crops was kidnapped by dissident former FARC rebels who have rejected the peace process, U.N., police and military sources said on Thursday. The U.N. official Arley Lopez, a Colombian, was seized on Wednesday by gunmen close to Miraflores in southern Guaviare province, where coca cultivation has long formed a big […]
DUBAI // “Iron” Mike Tyson, the former undisputed heavyweight champion of the world, hopes his new Dubai gym will unearth a diamond in the rough that could go on to make a career in the fight game. Speaking at Atlantis The Palm on Thursday, the American said Dubai is the perfect venue to launch the Mike Tyson Academy of boxing and fitness. “People don’t have to fight […]
Cameron Mackintosh speaks with all the ease – but with little of the arrogance – of someone who has made a billion dollars doing what he loves. “I was a lucky boy to be born when I was,” he says. Coming from the third richest man in the British music industry, it is perhaps the understatement of the century. The run of stage smashes he produced in […]
As noted earlier, while European stocks and US equity markets have ignored the commodity crash in China, which in addition to iron ore plunging limit down, also saw rubber tumble 7% lower, and steel rebar, coke, coking coal plunge over 6% … … Axiom’s Gordon Johnson warns (as we did a month ago) that the worst is yet to come, and in fact, the “backdrop of […]
BEIJING The European Union wants China to help prevent migrants and refugees using Chinese-made inflatable boats to get into the bloc by stopping the boats reaching them, the European Commissioner for Migration said on Thursday. Dimitris Avramopoulos, speaking to reporters in Beijing after meeting Chinese Minister for Public Security Guo Shengkun, said the rubber boats used by people smugglers were made in China. “The rubber boats used […]
How do best performing companies and leaders deliver value with a vision and foundation for success? SAP works with some of the best companies and CEOs across the region in helping them achieve transformation through innovation and technology. This new CEO Innovation Series, supported by SAP will share and tell the best stories of achievement and feature top leaders on how they continue to lead by example. […]
11:00 am Suppose we could be brave, Bryce, and go with a pic of Jeffery Lacker as our portrait for today 11:01 am Well, he stepped down from the Richmond Fed after fessing up to helping a colleague at a sister publication — Medley — on a story 11:02 am 11:03 am I could give you a rival’s analysis of the story 11:03 am It’s not the […]
By Sumeet Chatterjee | HONG KONG HONG KONG UBS Group AG (UBSG.S) plans to hire about 100 wealth management client advisors over the next two years in Hong Kong, the biggest wealth hub in Asia-Pacific, to grab a bigger share of the fast-growing mid-tier millionaire segment. The Swiss bank’s sharpening focus on the middle of the wealth market comes as some global banks including Standard Chartered (STAN.L) […]
HSBC has beaten analysts’ expectations for its first-quarter results as strong trading conditions, rising interest rates and a weaker dollar lifted earnings, bringing welcome relief from its heavy miss at the end of last year. Pre-tax profits, adjusted for one-offs and currency moves, reached $5.9bn, surpassing consensus forecasts of $5.3bn. Shares opened up 3.4 per cent in London trading, hitting 668.30p. Europe’s biggest bank by assets, which […]
Etihad Airways has expanded its services to the southern Indian state of Kerala as it celebrates 10 years of flying to the popular destination. The airline said it has launched a fourth daily non-stop service between Kozhikode and its Abu Dhabi hub, taking to 63 the total number of weekly services between the UAE capital and its three Kerala gateways of Kochi, Kozhikode and Thiruvananthapuram. This represents […]
By Rishika Sadam and David Ingram Facebook Inc reported surging quarterly profit and revenue on Wednesday, helped by its fast-growing mobile ad business, but its shares dipped from a record high in after-hours trading as investors showed some nervousness about future earnings. The world’s biggest online social network, which is nearing the five-year anniversary of its initial public offering, is searching for new types of advertising features […]
Donald Trump and Republican leaders in Congress are poised for a high-stakes vote on healthcare reform on Thursday that could decide whether the president will achieve one of the key elements of his domestic legislative agenda following a rough first 100 days in office. After three months of roller-coaster efforts to repeal and replace the Affordable Care Act — the healthcare law known as Obamacare that was […]
Freight volumes of Middle East carriers increased by more than 16 percent in March on a year-on-year basis, according to new figures released by the International Air Transport Association (IATA). IATA said that while capacity increased 2.7 percent, international freight volumes increased 16.4 percent year-on-year in March – the fastest pace since June 2015. Seasonally-adjusted freight volumes maintained their upward trend as the year-on-year growth rate recovered […]
Intel has shuffled its executive ranks again, announcing that long-time executive Diane Bryant is stepping down from her role as GM of the Data Center Group (DCG). Intel CEO Brian Krzanich said in an email to employees that Bryant would be stepping away for six to eight months to tend to a personal family matter. Navin Shenoy, formerly GM of the Client Computing Group (CCG), will be […]
By Jeff Mason and Matt Spetalnick | WASHINGTON WASHINGTON President Donald Trump vowed on Wednesday to do “whatever is necessary” to broker peace between Israel and the Palestinians as he hosted Palestinian President Mahmoud Abbas at the White House, but offered no sign of how he could revive long-stalled negotiations. In their first face-to-face meeting, Trump pressed Abbas and other Palestinian leaders to “speak in a unified […]
Digitization identified as key for region to retain leadership in global logistics landscape Dubai, United Arab Emirates, May 4 2017 Supply chain optimization took center stage at the ninth GPCA Supply Chain Conference, which took place between 2-4 May 2017 at the Rosewood Hotel in Abu Dhabi. During the event, speakers highlighted logistical efficiency as a top industry priority in the GCC as traditional supply chains across […]
China has rapidly emerged as the leading issuer of green bonds, spurring excitement among the green finance community that they will help the world’s largest emitter reduce its choking pollution. But although the amount raised is carefully tracked, how the money is being spent is less clear. China issued $36bn of green bonds in 2016, up from almost none the year before, and analysts expect it to […]
Dubai Municipality has launched a new meteorological radar project which can detect rain drops in clouds from a distance of 200km. According to state news agency WAM, Hussain Nasser Lootah, director-general of Dubai Municipality, inaugurated the project, which is part of an early warning system for weather forecasting. The radar can also identify the types of thunderstorms and its time of occurrence and direction. In many cases, […]
Don’t open that email. Journalists and others on Wednesday were ensnared in what appears to be a widespread phishing attack from the address “[email protected],” while others took to Twitter to warn others: icymi: Someone Is Spreading a Massive Google Doc Phishing Email Right Now https://t.co/Y2HVIKejlp via @lorenzofb — Carl Franzen (@carlfranzen) May 3, 2017 This may be spreading through asking authorizing apps. DO NOT AUTHORIZE APPS WITHOUT […]
By Nichola Saminather | SINGAPORE SINGAPORE Asian stocks retreated on Thursday, taking their cues from a subdued session on Wall Street, while the dollar retained gains made after the Federal Reserve delivered a hawkish policy statement. At the end of its two-day meeting, the Fed kept its benchmark interest rate steady as expected, but downplayed weak first-quarter economic growth and emphasized the strength of the labor market, […]
Apple CEO Tim Cook (Image: CNET/CBS Interactive) Apple CEO Tim Cook has said he remains enthusiastic about business opportunity in China, the world’s largest smartphone market, despite the company’s Greater China sales falling 14 percent year-on-year to $10.7 billion in the quarter ended April 1, from $12.5 billion in the same period last year. This figure was also down 34 percent from revenue of $16.2 billion recorded […]
Long before TV presenter Naoufer Ramoul had an apartment to decorate, she had chosen an interior designer. Ramoul, who is the presenter of the weekly political debate show Qabil li Niqash, had come across Harf Noon Design Studio on Instagram, and immediately got in touch with the company’s founder, Nisrine El Lababidi. “Naoufer messaged me and said: ‘Nisrine, I don’t own a house at the moment, but […]
Tesla boss Elon Musk surpassed even his own lofty standards of both hubris and humility on Wednesday, as he looked ahead to a day when the electric carmaker will be worth more than Apple — but also admitted he had confused his customers with a bad product-naming decision. “I want to preface this by saying I could be delusional,” Mr Musk told Wall Street analysts on his […]
