Canceling cash was just the beginning. An article in Wednesday’s Wall Street Journal takes a look inside the next phase in India’s war on the underground economy. After Prime Minister Narendra Modi forced his countrymen to turn in their high-value rupee bills late last year, tax sleuths are now sifting through records of millions of bank deposits to see who might have brought in cash that was […]
DUBAI Compliance with a global supply cut deal by OPEC and non-OPEC oil producers has been high in January and that level of commitment is expected to improve over the next months, the United Arab Emirates Energy Minister said on Sunday. “The first month I see the commitment around OPEC has been there from the various independent sources. The level of commitment is high and we are […]
The Louisiana State Police never did tell White what happened to his son. He learned of their account through a news release posted online that evening, March 3, 2014. The police said that Victor White III, while detained in the back seat of a locked police car, his hands shackled behind his back, had committed suicide by shooting himself in the back with a handgun that an […]
12 February 2017 Dubai, United Arab Emirates – Marsh & McLennan Companies Inc. (NYSE: MMC), a global professional services firm offering clients advice and solutions in risk, strategy and people, is a strategic partner of the newly published 2017 Global Risks Report, an annual publication released by the World Economic Forum at Davos. This year’s 2017 Global Risks Report reveals that economic inequality, societal polarisation and intensifying […]
A day before Elon Musk, co-founder and CEO of Tesla, officially announces his company’s foray into the Middle East, social media is abuzz with the possible location for the American carmaker’s first showroom in the UAE. A billboard has sprung up on Khalifa Juma Al Nabooda’s building on Sheikh Zayed Road in Dubai – which earlier housed Porsche cars – indicating the showroom opening in “summer 2017”. […]
Good morning. Critique by “Sid Vicious” not pretty If things had gone differently, Washington would now be gossiping about the role of Sidney Blumenthal within a Clinton White House. A congressional inquisition over his much-publicized emails with then-Secretary of State Clinton, his longtime friend, now seems so distant, doesn’t it? But it’s still fitting the journalist-activist and historian should weigh in on Donald Trump. A cerebral but […]
TOKYO Japanese conglomerate Toshiba Corp probably suffered a group net loss of about 400 billion yen ($3.52 billion) in the nine months through December, the Nikkei reported on Sunday. The loss is largely due to a goodwill impairment of around 600 billion yen on a U.S. nuclear unit that came to light in late 2016. During the year-earlier period, Toshiba lost a similarly significant 479.4 billion yen. […]
The European government bond market had what is known in technical circles as a minor freak-out this week. Yet as yields in eurozone bonds diverged sharply, the markets for stocks, corporate debt and currencies carried on regardless. The Cac 40 index of large French-listed companies was barely changed on the week. The euro weakened per cent against the US dollar, but at the same time the dollar […]
Mr. Kushner, on something of a crash course in diplomacy, has been speaking with Arab leaders in recent weeks. But he is a mystery to most Middle Eastern officials. He has no experience in government or international affairs. His up-close exposure to the Arab world amounts to little more than trips to a handful of Persian Gulf countries and a star-studded jaunt to Jordan. Continue reading the […]
US plane maker Boeing on Tuesday announced that Etihad Airways has signed a four-year contract to introduce the Boeing Wind Updates solution into its operations. The optimisation tool from Boeing will increase efficiency and reduce fuel consumption across the airline’s global operations. It added that more current and accurate weather data allows for more effective use of modern aircraft capabilities and is expected to reduce fuel consumption […]
MANILA The Philippine police have sacked nearly 100 policemen since the start of the year because they were found to be drug users, a top official said on Saturday, in a clean-up of the ranks after President Rodrigo Duterte halted police anti-drug operations. More than 7,700 people have been killed since Duterte unleashed his bloody war on drugs seven months ago, about 2,500 in police operations, while […]
In this Feb. 8, 2017, photo, a Google Chromebook displays Candy Crush Saga in New York. Google Chromebook laptops are impractical for many people because they’re little more than expensive paperweights when they’re out of range of an internet connection. Yet they’ve defied expectations and made tremendous inroads in one of the least likely places: U.S. schools. (AP Photo/Mark Lennihan) The Google Chromebook, a type of stripped-down […]
Feb 10, 2017 11:23 am IST Indian Institutes of Technology were ranked fourth for educating students who went on to create billion-dollars startups, a report by Sage, a U.K-based accounting software firm said this week. Stanford University was the source of the largest number of unicorn founders, followed by Harvard University and the University of California. So what is the secret at the IITs? An impossibly competitive […]
Record investment deals on the show floor of Cityscape Abu Dhabi in 2016 have resulted in more than 90 percent of show floor space already sold for this year’s event, the organisers have announced. With sales permitted directly from exhibitor stands for the third year running, a host of new property developers have confirmed their participation at the three day event in April. Organisers said that the […]
By Helen Reid and Abhinav Ramnarayan | COVENTRY, England COVENTRY, England U.S. Federal Reserve Vice Chair Stanley Fischer said there was significant uncertainty about U.S. fiscal policy under the Trump administration, but the Fed would be strict in meeting targets of creating full employment and getting inflation to 2 percent. Speaking at the Warwick Economics Summit on Saturday, Fischer also said he thought Dodd-Frank financial regulation would […]
Nordea, the Nordic bank, has banned its fund managers from investing in the companies constructing the $3.7bn Dakota Access oil pipeline, just weeks after Donald Trump, the US president, decided to push forward with the controversial project. The bank’s fund management division will no longer invest in Energy Transfer Partners(ETP), the main company that oversees the disputed project, amid concerns about the environmental and reputational risks of […]
President Trump has had a long and stormy relationship with BuzzFeed. Three years ago, when Trump was considering a run for president, BuzzFeed ran a lengthy and dismissive profile that said he would “not be king.” As his bid for president gained momentum, he tried (unsuccessfully) to freeze BuzzFeed out, putting the company on his media blacklist and calling it all kinds of names. Then, after BuzzFeed […]
Gulf countries are forecast to drive the bulk of 2017 sovereign debt issuance, followed by Latin America, according to Bank of America Merrill Lynch. Its latest GEMs Macro Monthly report said it expects Saudi Arabia, Argentina, Qatar and Kuwait to be the largest gross and net debt issuers in 2017. It said these four issuers could account for 37 percent of the total sovereign gross issuance. Among […]
Major U.S. retailers Sears and Kmart this week removed 31 Trump Home items from their online product offerings to focus on more profitable items, a spokesman said on Saturday. The decision follows retailer Nordstrom Inc’s announcement this week it had decided to stop carrying Ivanka Trump’s apparel because of declining sales, prompting President Donald Trump to take to Twitter to defend his daughter. White House spokesman Sean […]
Six Construct has announced the completion of the Gabbro Terminal expansion project in Mesaieed for Qatar Primary Materials company (QPMC). The work has doubled the capacity of the terminal by replacing the current operation system (4,000 daily rotations) with a conveyor system, which will help boost the terminal’s annual turnover to 30 million tons of aggregate, the company said in a statement. To support the new supply […]
By Paulo Whitaker | VITORIA, Brazil VITORIA, Brazil Police in the Brazilian state of Espirito Santo did not return to work on Saturday, despite the government announcing hours earlier a deal had been struck with officers to end a week-long strike that has led to a sharp increase in murders. Most of the violence has been centered in the poor regions of metropolitan Vitoria, the state capital […]
Qatar Petroleum is the hidden giant of the global energy industry, overshadowed by its neighbor Saudi Aramco. Yet, the country’s colossal natural gas resources allow the state-run company to pump more oil and gas than Rosneft PJSC or Exxon Mobil Corp. After almost two decades of breakneck growth, the company needs to change tack. QP plans to expand abroad as domestic crude output declines and the government […]
MOSCOW Russia will decided in April or May whether an agreement on global oil output cuts between OPEC and non-OPEC producers, set to end on June 31, should be extended, TASS news agency quoted Russian Energy Minister Alexander Novak as saying on Saturday. Novak also said that he planned to meet his Saudi Arabia counterpart Khalid al-Falih during the CERAWeek energy conference in Houston in March. (Reporting […]
Saudi Arabia’s relations with the United States are “historic and strategic”, Crown Prince Mohammed bin Nayef said on the occasion of the visit of CIA director Mike Pompeo to Riyadh. This is the first reported visit by a senior Trump administration appointee to the kingdom. “Our relationship with the United States is historic and strategic, any attempts to undermine that will falter,” Prince Mohammed said, according to […]
