By Jennifer Ablan | NEW YORK NEW YORK Jeffrey Gundlach, chief executive officer at DoubleLine Capital, said on Tuesday he expects the Federal Reserve to begin a campaign this month of “old school” sequential interest rate hikes until “something breaks,” such as a U.S. recession. Gundlach, who oversees more than $101 billion at Los Angeles-based DoubleLine, said U.S. economic data support a rate increase as soon as […]
Google Cloud on Tuesday unveiled a series of steps it’s taking to strengthen its partner program, such as simplifying requirements, creating new partner incentives, and introducing new partner specializations — along with a new collection of partners recognized in those areas. “Google Cloud partners are essential to our commitment to help enterprises innovate faster, scale smarter and stay secure,” Bertrand Yansouni, VP of Google’s Global Partner Sales […]
Canadian financial services group Canaccord Genuity’s aims to double the contributions to its investment banking business from the Middle East and India in the next five years, its regional head told Reuters. It recently helped broker a C$5 billion ($3.7 billion) investment partnership between Dubai ports operator DP World and Caisse de depot et placement du Quebec, Canada’s second-largest public pension fund. “We think this could be […]
By Jonathan Stempel | NEW YORK NEW YORK PricewaterhouseCoopers LLP [PWC.UL] pinned the blame for MF Global Holdings Ltd’s collapse squarely on the commodity brokerage and its former chief executive, Jon Corzine, at the start on Tuesday of a trial over whether the auditor should pay about $3 billion for its alleged negligence. Jurors are considering a demand by MF Global’s bankruptcy plan administrator that PwC be […]
A ground-breaking research in the field of neuroscience offers an in-depth analysis of the brain’s reward system, highlighting its influence on the decision-making process. The study encompasses three decades of investigation into the role of dopamine in everyday life choices and shows how the brain perceives different options, prioritizing those which prompt a better reward. For their outstanding merits, Professors Wolfram Schultz, Peter Dayan, and Ray Dolan received […]
ABU DHABI // Sheikh Abdullah bin Zayed has told Emirati youth to think beyond expectations of “comfortable” government jobs and prepare to compete with the rest of the world. “If you want to participate in shaping the future then you need to stop thinking of a government job,” the Minister of Foreign Affairs and International Cooperation said. “No other country in the region supports youth-led projects like […]
Lab to Enable ADNEC Employees to Lead Development of Cutting-edge Solutions to Meet Dynamic Customer Requirements and Enhance Abu Dhabi’s Competitive Edge Abu Dhabi-UAE: 07 March 2017 His Highness Sheikh Abdullah Bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, officially inaugurated the Innovation Lab at Abu Dhabi National Exhibitions Company (ADNEC) as part of its sustained efforts to instill a workplace culture based […]
The biggest impact investing deal to ever see the light of day — that is how a fascinating new hedge fund deal is being touted. Impact investing is the practice of trying to make a measurable, positive societal impact as well as making a financial return on your money. The US hedge fund Mariner Investment Group reckons it has found a way to turn an investment of about $150m into […]
Dubai-based pay-TV firm OSN has welcomed the ruling of an Egyptian court which ordered a record fine of EP100,000 and one-year imprisonment for a man found guilty of illegally distributing and selling stolen entertainment content without holding the required licences. The Economic Court of Alexandria found the defendant guilty of two charges of setting up an illegal broadcast network as well as breaking intellectual property laws. The […]
Snap Inc’s shares fell as much as 10.4 percent on Tuesday, opening at their lowest since a blockbuster market debut last week. Snap’s shares hit a low of $21.30 in early trading on Tuesday, wiping out more than $9 billion of the company’s market capitalization from Friday’s high. Shares surged 44 percent in a hotly anticipated listing on Thursday, valuing the parent of Snapchat, an app popular […]
I still remember August 2, 1990, like it was yesterday. It was a Thursday, and I was awoken at 6.30am by a friend whose extended family were Kuwaiti. He told me that his brother-in-law was claiming that there were Iraqi troops in Kuwait City, and that he could hear gunfire and explosions. Like everybody else, I spent the weekend oscillating between shock, anger and fear. What did […]
Brazil’s economy shrank 3.6 per cent last year as high inflation, a runaway budget deficit and political turmoil drove the country to its worst recession on record. The contraction, which was felt across almost all economic sectors from industry to services, was slightly worse than economists’ estimates and only marginally better than 2015, when gross domestic product contracted 3.8 per cent. GDP in the final three months […]
How do you solve a problem like China’s excess corn stocks? Use it to make translucent film for greenhouses is one answer, its most influential agricultural expert said on Monday, as Beijing casts about for ways to rid itself of unwanted stores of corn and other agricultural commodities built up in recent years. The end of China’s failed minimum price policy for corn has forced a restructuring of […]
The Metropolitan Hotel Dubai, one of city’s oldest hotel brands, has reopened in a new location on Sheikh Zayed Road, after a three-and-a-half-year hiatus. The original Metropolitan Hotel, which was built in 1979, was demolished in May 2013 to make way for Al Habtoor City, an urban resort incorporating three hotels and luxury residential towers on The Dubai Water Canal. Mohammad Al Habtoor, vice-chairman and CEO of […]
The Supreme Court on Tuesday asked the Centre to file the six reports of various agencies in a sealed cover within four weeks in connection with the Panama papers leak case. Lawyer Manohar Lal Sharma had filed a plea in the apex court seeking a thorough investigation into the case. The apex court said after going through the reports it would see whether […]
Etihad Aviation Group employs nearly 10,000 women as it marks International Women’s Day 07 March 2017 Her Highness Dr. Sheikha Shamma bint Mohammed Al Nahyan has made a special visit to Etihad’s Global Business Service Solutions (GBSS) facility in Al Ain. Today’s visit was part of Etihad Aviation Group’s (EAG) activities to mark International Women’s Day, recognised internationally on 8 March each year to celebrate the achievements […]
GoldenEye ransomware targets human resources departments because they’re used to opening emails and attachments from unknown sources. Image: Ali Donzanti What is a ransomware attack? Cybercriminals didn’t use to be so obvious. If hackers infiltrated your corporate network, they would do everything possible to avoid detection. It was in their best interests not to alert a victim that they’d fallen victim to cybercrime. But now, if you […]
Fund managers and institutional investors expect oil giant Saudi Aramco to have a market capitalisation of $1 trillion to $1.5 trillion when it sells shares to the public next year, a survey by regional investment bank EFG Hermes showed on Monday. The valuation of Aramco. the world’s biggest oil firm, has been the focus of intense speculation since the Saudi government last year announced plans to sell […]
By Foo Yun Chee | BRUSSELS BRUSSELS An EU court agreed with United Parcel Service (UPS.N) on Tuesday that the EU had wrongly blocked its takeover of Dutch peer TNT four years ago, potentially allowing the world’s largest package delivery company to sue regulators for damages. The European Commission rejected the 5.2 billion euro ($5.5 billion) deal in 2013, saying UPS had not offered sufficient concessions to […]
DUBAI // A fight between two rival gangs, captured on video, left one dead and one seriously injured, a Dubai court heard on Tuesday. A video shot by a tenant whose apartment overlooks the car park where the fight took place captured the moment dozens of Chinese men gathered at 9pm on March 23 last year armed with axes and metal bars. The fight lasted for 10 […]
CYBERJAYA, Mar 7 (Bernama) — The Cabinet is likely to discuss Malaysia’s trade relations with North Korea at its meeting this Friday following rising tension between the two countries, said Second International Trade and Industry Minister Datuk Seri Ong Ka Chuan. Ong, when met after opening the T-Sytems Malaysia Innovation Centre T-Hub here today, said: “I think it (the Cabinet) will make a decision on this (trade).” […]
07 March 2017 Geneva – The International Air Transport Association (IATA) released data for global air freight markets showing that demand, measured in freight tonne kilometers (FTKs), rose 6.9% in January 2017 compared to the year-earlier period. While this was down from the 10% annual growth recorded in December 2016 it still was well above the average annual growth rate of 3% over the past five years. Growth […]
Dubai has issued new regulations on the installation of electric vehicle charging stations as it looks to be at the forefront of environmentally-friendly cars. Sheikh Ahmed bin Saeed Al Maktoum, chairman of the Dubai Supreme Council of Energy, has issued directive number 1 of 2017 which states that all public and private organisations and developers in Dubai must get approvals from Dubai Electricity and Water Authority (DEWA) […]
By Nichola Saminather | SINGAPORE SINGAPORE Asian shares rose on Tuesday, diverging from New York markets that slipped on concern about President Donald Trump’s ability to focus on economic policies. Oil prices were slightly lower amid fears growing U.S. production will offset OPEC cuts. Futures are pointing to a positive open for Britain’s FTSE 100 .FTSE and France’s CAC 40 .FCHI. MSCI’s broadest index of Asia-Pacific shares […]
