It’s fair to say that HappyFresh, one of a number of startups working to make the business of on-demand grocery shopping viable in Southeast Asia, didn’t have a great 2016. The two-year-old company pulled out of two countries to “focus on sustainability and profitability” and raised an ominous ‘undisclosed’ Series B round having previously closed a $12 million Series A a year prior. Now TechCrunch has learnt that it has also […]
Submitted by Finian Cunningham via Strategic-Culture.org, The dark, infamous days of American lynch-mob rule and burning witches at stakes are back as never before. But not in backwater enclaves of benighted bigotry. Oh no, the modern lynch mobs are running amok in Washington’s seat of government, across prime TV and on the editorial pages of its supposed finest newspapers. It is the effete, self-regarding ruling US elite […]
UAE’s Abu Dhabi National Oil Company (Adnoc) is seeking to enter more “strategic” partnerships to develop new business streams as part of its new five-year business plan and 2030 strategy, according to a news report. The state-owned company announced new strategy in November last year, revealing plans to scale up its oil production target by 400,000 barrels per day (bpd) to 3.5 million bpd in 2018 and […]
04 January 2017 BBK has recently announced new appointments in its Executive Management as part of a re-organization plan recently approved by the Bank’s Board of Directors and the Central Bank of Bahrain. The new structure aims to foster the Bank’s three years strategy (2016-2018), in addition to achieving the future vision and expectations of the Bank’s shareholders and stakeholders. The new organization included the following appointments: […]
By Alexandria Sage and Paul Lienert | LAS VEGAS LAS VEGAS Electric vehicle start-up Faraday Future showed off in Las Vegas on Tuesday a prototype of a vehicle set for production next year as the China-backed company strives to win credibility in the crowded sector and weather its funding challenges. The “FF 91”, described by its designer Richard Kim as “weird-pretty”, is a luxury electric SUV Faraday […]
Even as Theresa May prepares to make a long-awaited speech on her Brexit strategy, the prime minister is facing fresh claims that her government is turning a deaf ear to news and advice on Brexit it does not want to hear. Former civil servants expressed dismay at the resignation of Sir Ivan Rogers, Britain’s EU ambassador, on Tuesday, saying the UK was losing its best negotiators with […]
Megyn Kelly is leaving Fox News for NBC News, bringing an end to one of the most protracted and public contract negotiations for a television news personality in years. The “Kelly File” host is getting a three-part deal at NBC News: She will host a new one-hour daytime program, anchor a new Sunday evening news magazine show and contribute to NBC’s breaking, political and special events coverage, […]
Foreign financial support to the Palestinian budget is running at about half the forecast level, the Palestinian prime minister told local media on Tuesday, meaning deep cuts will have to be made to the budget this year. At its cabinet meeting, the government said it expected to run a budget deficit of 4.12 billion shekels in 2017 ($1.06 billion), approaching 15 percent of gross domestic product. “We […]
ISLAMABAD – One day before the hearing of the Panama leaks, Pakistan Tehreek-e-Insaf yeserday filed fresh evidence before the Supreme Court. Prime Minister Nawaz Sharif and his children also filed applications for changing their counsels. In place of Salman Aslam Butt now Makhdoom Ali Khan would represent the PM, while Salman Akram Raja would appear instead of Akram Sheikh on behalf of Hassan Nawaz and Hussain Nawaz. […]
SYDNEY The U.S. dollar crept nearer to 14-year peaks on Wednesday as an abundance of upbeat global economic data boosted Wall Street and signs of quickening inflation dented fixed-income debt. The strength of the U.S. currency pressured commodity prices and helped drag oil off an 18-month top, but gave Japan’s exporter-heavy stock market a fillip. The Nikkei climbed 2.1 percent, recovering from two sessions of losses as […]
Dubai Financial Market (DFM) , the Gulf’s only listed stock exchange, said on Tuesday that it planned to introduce covered short-selling, a move that could increase trading liquidity. “DFM is planning implementation of regulated short-selling on a selected list of eligible securities in accordance with international recommendations under local market conditions in the coming months, subject to regulatory approvals of its rules,” it said in a statement […]
After seven years of stock markets climbing ever upwards, investors found a new reason to buy in November: the shock election of Donald Trump. One oft-repeated anecdote is how the billionaire investor Carl Icahn left Mr Trump’s victory party to buy US stocks. A few days later Stanley Druckenmiller, who earlier in the year told a conference for fellow hedge fund managers to “get out of the […]
Osterhout Design Group recently raised $58 million with a plan to expand its smart glasses and augmented reality footprint from government and enterprise customers to consumers. At the Consumer Electronics Show, ODG made good on its expansion plans as it unveiled its R-8 and R-9 smart glasses. At CES 2017, ODG highlighted how its new smart glasses are designed to complement existing devices, provide augmented reality experiences […]
Saudi Arabia’s Council of Ministers has approved the organisational procedures for the General Authority of Sports in order to promote athleticism in the Kingdom. The newly approved measures also aim to organize and develop the sports sector, the Minister of Culture and Information Dr. Adel Al-Turaifi told the Saudi Press Agency following a Cabinet session headed by King Salman in Riyadh. Al-Turaifi said the authority would work […]
Tesla Motors Inc (TSLA.O) said on Tuesday fourth-quarter deliveries fell 9.4 percent due to short-term production hurdles from the transition to a new autopilot hardware. Deliveries fell to about 22,200 vehicles in the fourth quarter from 24,500 vehicles in the preceding quarter. Total deliveries for 2016 of 76,230 also fell short of the company’s projection of 80,000 to 90,000. Shares of the company, led by entrepreneur Elon […]
Manama, 3rd January 2017 Amlak, the real estate investment arm and a wholly-owned subsidiary of the Social Insurance Organization (SIO), held a press conference to announce the latest projects undertaken by the company. “Amlak has taken steady steps towards prosperity by developing its growing portfolio. We are excited to announce our upcoming projects which will include a residential project and a number of multi-purpose projects, in addition […]
The government of Oman has approached banks for an international bond issue with tranches of five and 10 years as the country plugs a budget deficit caused by lower oil prices, banking sources familiar with the situation said on Tuesday. The sultanate has asked international lenders to submit proposals for a U.S. dollar debt transaction likely to be around $1 billion or more. Banks are expected to […]
By Bernie Woodall and David Shepardson | FLAT ROCK, Mich./WASHINGTON FLAT ROCK, Mich./WASHINGTON Ford Motor Co (F.N) said Tuesday it will cancel a planned $1.6 billion factory in Mexico and will invest $700 million at a Michigan factory, after President-elect Donald Trump had harshly criticized the Mexico investment plan. The second largest U.S. automaker said it would build new electric, hybrid and autonomous vehicles at the Flat […]
South Korean prosecutors are seeking to extradite from Denmark the daughter of Park Geun-hye’s “shaman adviser” for questioning over the corruption scandal that led last month to the president’s impeachment by parliament. Chung Yoo-ra, the 20-year-old daughter of Choi Soon-sil, was arrested on Sunday in the northern Danish city of Aalborg for staying there illegally. South Korea had asked Interpol to search for her. Ms Choi is […]
Banks and commodity companies set the pace as the FTSE 100 extended its run into record territory on Tuesday, taking the gains for the blue-chip index to 13 per cent since the UK voted for Brexit. Sentiment towards the FTSE 100 has brightened on optimism over bank earnings as bond yields rise, and on the support a stronger oil price is giving the commodities sector. “The FTSE […]
|By Matein Khalid|“Few individuals alter the course of history. Fewer still change the map of the world. Hardly anyone creates a nation state. Mohammed Ali Jinnah did all three”. Dr. Stanley Wolpert’s words still give me goose pimples two decades after I first read his book. Mr. Jinnah founded Pakistan and was also my ancestral kinsman. I too was born in Karachi, the city by the sea, […]
Saudi Arabia stressed on Monday the importance of co-operation among oil producers to abide by a decision in November to cut production. OPEC agreed in November its first oil output cuts since 2008 after Saudi Arabia accepted “a big hit” on its production and dropped its demand that arch-rival Iran slash output. “The council (of ministers)…asserted the importance of stability and coordination and increased cooperation between member […]
Despite the weakness in ‘hard’ industrial production data, US Manufacturing ‘soft’ survey data from ISM and Markit surged in November and December. PMI rose to 54.3 final for December – a 21-month high – with employment rising and inventory-building. However, stagflation concerns continue to build as new orders declined and input price inflation accelerated. ISM rose to its highest since Dec 2014 with prices paid soaring to […]
By David Morgan | WASHINGTON WASHINGTON Big Oil could be in a unique position to protect its interests against a Republican proposal to tax imports, given that President-elect Donald Trump’s cabinet is studded with oil champions sensitive to the risk of higher gasoline prices. Trump’s emerging leadership includes Exxon Mobil Corp Chief Executive Officer Rex Tillerson as secretary of state, former Texas Governor Rick Perry as energy […]
