News stories are released on weekdays. 2 hours ago Vatican confirms ban on homosexual candidates for priesthood The Vatican has confirmed that homosexual men should not be ordained to the priesthood. In a new instruction for the training of seminarians, entitled The Gift of the Priestly Vocation, the Congregation for the Clergy says that the Church “cannot admit to the seminary or to holy orders those […]
General assembly meetings of FGB and NBAD held on December 7th Combined bank has total assets of approximately AED655 billion (US$178 billion), representing a 27% market share of UAE banking sector[1] Shareholders approve combined bank’s board of directors from effective merger date Effective date of merger towards the end of Q1 2017 as initially planned. Abu Dhabi, 7 December 2016 Shareholders in First Gulf Bank PJSC (FGB) […]
By Steve Holland | WASHINGTON WASHINGTON U.S. President-elect Donald Trump said on Wednesday he will nominate professional wrestling magnate and former Senate candidate Linda McMahon as his choice to head the Small Business Administration. Trump’s announcement said McMahon would be a key player in his effort to generate stronger job growth and roll back federal regulations. McMahon, 68, is a co-founder and former CEO of the professional […]
Kuwait will request that an OPEC committee responsible for monitoring compliance with a global oil output reduction agreement meet in February or March next year, acting oil minister Anas al-Saleh said on Tuesday. “In my capacity… as head of the committee… I will call for a meeting of the first Monitoring Committee to take place in February or March 2017, ” Saleh said in a statement. “We […]
This article by David Haggith was published first on The Great Recession Blog: I risked losing my fellow anti-establishment readers in September by suggesting Trump may be an establishment Trojan horse. After seeing Trump choose Pence as VP and a Goldman Sachs exec as campaign finance manager, I was concerned the establishment knew a citizen’s revolt was brewing and made sure that even the road to revolt led back to […]
Softbank president Masayoshi Son walked out of President-Elect Trump’s office with a big grin on his face this yesterday, which can only signify one thing for me: a Sprint/T-Mobile merger is a done deal. Actual news stories don’t want to say this, because Trump and Son didn’t say it explicitly. According to the New York Times, Son “is projected” to spend half of his $100 […]
By Lewis Krauskopf and Bill Berkrot | NEW YORK NEW YORK President-elect Donald Trump on Wednesday took aim at drugmakers, promising in a magazine interview that “I’m going to bring down drug prices,” and shares of U.S. pharmaceutical and biotechnology companies fell. In a cover story for Time magazine, which named him its Person of the Year, Trump said that “I don’t like what has happened with […]
UAE-based Al Dahra Holding and Abu Dhabi Ports have launched a new AED140 million ($38.1 million) rice factory at Khalifa Industrial Zone (KIZAD). Owned by Al Dahra Kohinoor, a subsidiary of Al Dahra Holding, the factory spans a total area of 100,106 sq m and will produce up to 120,000 metric tonnes of rice per annum with 40 silos, each boasting a 750-tonne capacity. It also features […]
MANILA Philippine President Rodrigo Duterte said on Wednesday he felt like a saint as the incoming U.S. president wanted to repair damaged bilateral relations between the two oldest security allies in this region. Duterte spoke on the phone with U.S. President-elect Donald Trump last Friday to congratulate him and renew close ties and friendship strained by Washington’s criticism on the rising death toll by Manila’s war on […]
The European Central Bank should retool its asset-purchase programme to fund a wave of new infrastructure spending across the continent, according to one of the world’s most powerful bond managers. Rick Rieder, global chief investment officer of BlackRock’s $1.6tn fixed income business, says the ECB should avoid a “false choice” between continuing on its present course or tapering its existing programme, when it meets to decide monetary […]
Saudi Aramco’s planned flotation is unlikely to require any major changes to Saudia Arabia’s securities rules, the vice chairman of the kingdom’s market regulator said. The kingdom’s state oil giant is targeting 2018 for what is expected to be the world’s biggest ever initial public offering, with a listing on both its home exchange and a foreign market among the options being discussed. The move is part […]
Microsoft has unveiled a new chatbot named Zo, but this time, she’s available on Kik, instead of Twitter, where earlier this year, her predecessor—known as Tay—went on a rather racist tirade before being shut down. I’ve never heard a clear explanation as to why Microsoft is making chatbots, and I have to assume the worst: They are on track to deliver ads. If you ever […]
There is over a month left until Trump’s inauguration, and the President-elect’s hard-hitting negotiating style may have scored yet another economic victory: according to a statement issued by Foxconn, the world’s largest contract electronics manufacturer and a major Apple Inc supplier, the company said it was in preliminary discussions to expand its operations in the United States. “While the scope of the potential investment has not been […]
Starbucks Corp (SBUX.O) set an annual revenue growth target of 10 percent and profit growth target of 15-20 percent for the next five years, and the coffee chain said it planned to open 12,000 stores globally by 2021. The company also said on Wednesday it would open an outlet of its high-end coffee chain, Reserve Roastery and Tasting Room, in Europe, bringing the number to five globally. […]
Dubai aims to become the seventh leading maritime capital of the world by 2020 ahead of London, New York, Tokyo, Copenhagen, and Rio de Janeiro The UAE is first WTO member from the Arab region to ratify the new Trade Facilitation Agreement (TFA) in April 2016 07 December 2016Dubai aims to become the seventh leading maritime capital of the world by 2020 ahead of London, New […]
Will this truck be the eyes and ears of the smart city? Credit: USPS The future of the U.S. Postal Service could be as the eyes, ears and sensor network for the smart city. If cities played along the USPS could also derive a revenue stream that could reverse billions of dollars of annual losses. According to a panel at the Smart Cities Summit in Boston, the […]
Global medical technology business, Siemens Healthineers, has partnered with Middle Eastern investors to establish its first entity in the UAE. The business said it has joined forces with Easa Saleh Al Gurg Group and Electro Mechanical Co to expand its footprint to the UAE. Siemens Healthineers offers medical imaging, laboratory diagnostics and advanced medical services, consulting and healthcare IT services in the region. The partnership comes at […]
Video Iran’s President on Trump and Nuclear Deal President Hassan Rouhani of Iran said on Tuesday that he would not let the United States back out of the Joint Comprehensive Plan of Action nuclear deal, warning of unspecified repercussions if Washington reneges. By IRINN, VIA REUTERS. Photo by Iranian Presidency, via Agence France-Presse — Getty Images. Watch in Times Video » TEHRAN — Iran’s president said on […]
LONDON Citi (C.N) said on Wednesday that its trading operations functioned appropriately in a thin and illiquid market during October’s “flash crash” in sterling, responding to a Financial Times report saying a trader at the U.S. bank exacerbated the pound’s fall. “Sterling fell sharply following a news event just after midnight UK time, when the GBP spot foreign exchange market was extremely illiquid,” Citi said. “Citi managed […]
Trafigura, one of the world’s largest commodity traders, has announced a 12 per cent decline in annual profits as challenging market conditions curbed money-making opportunities and it was forced to write down the value of port and rail assets. In the year to September, net profit was $975m, down from just over $1.1bn in 2015 which was a record year for trading the Geneva-based company. In spite […]
New Articles Watch a video that shows Dubai Opera’s stage being transformed into an ice rink, ready for Nutcracker on Ice Set against a backdrop of colourful scenes and projections, opulent costumes, magic tricks and special effects, the cast of World, European and National Championship level skaters dance to Tchaikovsky’s glorious score. Breath-taking high speed leaps, heart stopping throws and awe-inspiring acrobatics combine with sublime ice dance […]
Expansion will help ensure Abu Dhabi’s rising demand for gas is met sustainably and economically 07 December 2016 Abu Dhabi, UAE – Plans to expand the Al Hosn Shah Gas plant’s capacity by 50 per cent have come one step closer today, with the awarding of the Front End Engineering Design (FEED) Services contract, to Britain’s Amec Foster Wheeler. One of the key players in the GCC […]
By Beth Pinsker | NEW YORK NEW YORK Want to save a few quick bucks on your holiday shopping? Your credit card may offer some little-known perks that could save you money both upfront and after the purchase. Of the 100 most popular credit cards, 81 offered some kind of extended warranty, according to a study released on Wednesday from Creditcards.com, a card rating website run by […]
As its ADSL business is replaced by the NBN and the cost of offering services to consumers moves from AU$15 to AU$40, thanks to the NBN’s connectivity virtual circuit charge, Australian telco TPG will look to increase its number of on-net users to make up the margin shortfall. Speaking at its annual general meeting on Wednesday, TPG chief financial officer Stephen Banfield said the company had a […]
