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BERLIN German Chancellor Angela Merkel’s conservatives and the centre-left Social Democrats (SPD) are neck-and-neck in the latest Emnid poll with seven months to go before a federal election. The poll in Bild am Sonntag newspaper showed the SPD, which has surged in recent weeks since nominating former European Parliament President Martin Schulz as its candidate, dropping by one percentage point compared with the same poll last week […]

A couple of days ago, the New York Times wrote a story that aims to explain why Snap founders Evan Spiegel and Bobby Murphy have retained such a hold on voting power in the company — power that its shareholders will not enjoy. It’s a great account and wonderfully written by a reporter I respect greatly. But I don’t quite buy it. According to four sources who spoke to the Times, […]

By Trevor Hunnicutt | NEW YORK NEW YORK Billionaire investor Warren Buffett on Saturday attacked what he saw as tricks used by U.S. companies to boost earnings and stock prices, but he defended one oft-criticized practice: share buybacks. “As the subject of repurchases has come to a boil, some people have come close to calling them un-American –characterizing them as corporate misdeeds that divert funds needed for […]

Your daily guide to community and cultural activities across the Emirates for February 26, 2017, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. Ellen Fortini rounds up 10 things to do today in the UAE. Want to see your event listed here? Email us with the details and contact information at [email protected] newslide Abu Dhabi Fitness event The […]

Saudi Arabia’s Foreign Minister Adel Al-Jubeir told Iraqi officials in Baghdad on Saturday that the kingdom plans to appoint a new ambassador, an Iraqi foreign ministry official said. Iraq last year asked Saudi Arabia to replace its ambassador, Thamer al-Sabhan, after his comments about Iranian involvement in Iraqi affairs and alleged persecution of Sunni Muslims angered local Shi’ite Muslim politicians and militia leaders. Jubeir’s visit to Baghdad […]

In the first tangible step toward delivering on Trump’s campaign promise to halt unauthorized immigration from Mexico, the U.S. Customs and Border Protection on Friday released plans for picking vendors for President Donald Trump’s proposed border wall, issuing a preliminary request for proposals saying it plans to release a formal solicitation around March 6 “for the design and build of several prototype wall structures in the vicinity […]

Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) on Saturday said fourth-quarter profit rose 15 percent from a year earlier, helped by gains from investments and derivatives. Net income rose to $6.29 billion, or $3,823 per Class Ashare, from $5.48 billion, or $3,333 per share, in the comparable quarter the previous year. Quarterly operating profit fell 6 percent to $4.38billion, or $2,665 per share, from $4.67 billion, or $2,843 […]

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February 25, 2017 by: Arash Massoudi and Javier Espinoza Bain Capital has made a €3.6bn offer to buy Stada, as the bidding war between private equity firms for the German maker of generic versions of drugs such as Viagra nears its climax. The offer from the US-based buyout group values shares in Stada at €58 a share and comes two days after its rival Advent International also […]

Saudi Arabia’s economy is forecast to continue slowing this year, dragged down by negative growth in the oil sector, according to Jadwa Investment. Its latest report said growth in the oil sector will turn negative due to the kingdom’s compliance with OPEC production cuts, while non-oil sector growth should rebound but “remain subdued” during 2017. Jadwa forecast that growth in the non-oil private sector will accelerate from […]

25 February 2017 MARC has affirmed its AAA(bg) rating on Boustead Holdings Berhad’s (Boustead) RM1.0 billion Bank-Guaranteed Medium-Term Notes (BG MTN) programme with a stable outlook. The rating reflects the credit strength of the syndicated bank guarantee facility provided by OCBC Bank (Malaysia) Berhad (OCBC Malaysia), Public Bank Berhad (Public Bank), Malayan Banking Berhad (Maybank) and The Bank of East Asia (BEA) Labuan Branch, all of which carry financial institution ratings […]

Image credit: Arqiva Samsung Electronics says it will start the UK’s first 5G broadband network in central London, following earlier trials South Korea, China and Japan. In London, it will work with Arqiva, which is best known for DAB radio broadcasting. Arqiva has a licence to use the 28GHz spectrum across the UK, and will host a number of Samsung’s 5G base stations. Arqiva’s CEO, Simon Beresford-Wylie, […]

Concourse D at Dubai International Airport has served more than 16.6 million passengers during its first year of operations. Concourse D, which represents the final major piece of infrastructure to be built at the airport as part of the $7.8 billion 2020 programme, marks its first anniversary on February 24. The $1.2 billion facility became the home of 60 international airlines that operate into Terminal 1 and […]

Citigroup Inc (C.N) on Friday said that U.S. government and regulatory agencies are investigating the bank’s hiring practices. U.S. agencies, including the U.S. Securities and Exchange Commission, are looking into whether or not the bank hired candidates “referred by or related to foreign government officials” over other candidates, the filing said. (bit.ly/2mmiCe4) “Citigroup is cooperating with the investigations and inquiries,” the company said in the filing with […]

The five largest banks in the UAE are forecast to see profitability remaining “solid” over the next 12-18 months, according to ratings agency Moody’s. In the fourth quarter of 2016, Emirates NBD, National Bank of Abu Dhabi, Abu Dhabi Commercial Bank, First Gulf Bank and Dubai Islamic Bank posted solid profitability, said Moody’s Investors Service in a report. “We expect the five large United Arab Emirates banks’ […]

Hyderabad: The Panama Papers are back here to haunt city industrialists. Following directions issued by the Centre, the Enforcement Directorate has begun a probe into 11 companies named in the Panama Papers, the global media investigation into alleged tax evasions which has brought 415 Indians under the scanner of investigating agencies. Sources said that the probe was initiated under the Foreign Exchange Management Act. A top ED […]

23 February 2017 Kempinski Summerland Hotel & Resort is pleased to announce the appointment of Daniele Vastolo to head the hotel’s current and future ventures. As the hotelier’s new scope of work increases, Vastolo will be responsible for supervising the entity’s minor and major projects, ensuring a quality of work that reflects the Kempinski’s premium standards. Vastolo joins Kempinski from his most recent role as Group Director […]

By Alexandria Sage | SAN FRANCISCO SAN FRANCISCO Alphabet Inc’s (GOOGL.O) Waymo self-driving car unit sued Uber Technologies [UBER.UL] and its autonomous trucking subsidiary Otto on Thursday over allegations of theft of its confidential and proprietary sensor technology. Waymo accused Uber and Otto, acquired by the ride services company in August, with stealing confidential information on Waymo’s Lidar sensor technology to help speed its own efforts in […]

SoFi, the biggest and the brashest of a new breed of online lenders in the US, has sealed a $500m funding round, giving it firepower to push into new products and markets including Canada and Australia. The private San Francisco-based company last received a big shot of funds — its fifth — in September 2015, when SoftBank of Japan led a $1bn round, the biggest in the […]

Sign up to receive Authers’ Note daily by email here Despite appearances to the contrary, the Trump trade may be moving into reverse as the president’s maiden State of the Union address approaches. The overall level of the stock market is, of course, at fresh records. But the pattern within it is shifting again. The end of the week saw sharp falls for almost all equity markets […]

Emirates has accused the UK’s Civil Aviation Authority (CAA) of acting unprofessionally over claims it breached laws by not paying compensation to passengers who experience a delay. The Dubai-based airline denied breaking any law with regard to payment of passenger compensation for delayed flights, after the CAA launched enforcement action against it and four other international carriers. The CAA said the airlines – Emirates, Etihad Airways, American […]

Submitted by Jeremiah Johnson (nom de plume of retired Green Beret of the United States Army Special Forces) via SHTFPlan.com, As of this writing a tremendous number of things are happening in North Korea and Russia.  Although these are not events that seem momentous, they are quite profound when taken into consideration with the grand scheme: the worldwide plot to form a state of global governance.  These […]

By Lewis Krauskopf | NEW YORK NEW YORK U.S. President Donald Trump’s planned economic agenda has fanned the flames for Wall Street’s record-setting run, but some investors worry that his first major address to Congress next week risks dousing it if his plans look slow to execute or are overly vague. The benchmark S&P 500 .SPX has surged 10 percent since Trump’s Nov. 8 election, with optimism […]

Elderly drivers could be submitted for regular medical testing under new proposals put forward by Dubai’s transport authority to improve safety on the emirate’s roads. The Roads and Transport Authority (RTA) said it has made a number of suggestions to the Ministry of Interior covering driving on the highways of Dubai. One of them would see drivers aged over 60 put through mandatory fitness tests every three […]

Every year, Inrix releases its Global Traffic Scorecard, which ranks congestion on roads in 1,064 cities in 38 countries. And every year the report tells urban commuters what they already know—traffic sucks and is getting worse. But at least Inrix’s Global Traffic Scorecard uses data—500TB from 300 million sources covering over 5 million miles of road—to let us know exactly how much it sucks. And […]

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