Democrats are taking aim at potential conflicts of interest in President-elect ‘s emerging administration, focusing on the role Mr. Trump’s son-in-law could play in government and introducing legislation that would force the incoming president to distance himself from his business interests. Rep. Elijah Cummings of Maryland, the top Democrat on the House Oversight and Government […] (via WSJ)
The Chicago Stock Exchange, which is seeking to win approval for a controversial takeover deal by Chinese investors, on Monday said that two companies controlled by the Lu family would own a combined 39 per cent of the exchange, but their voting power would be limited to 20 per cent. In a filing with the Securities and Exchange Commission, the Chicago exchange detailed the underlying investors in […]
SYDNEY Three of Australia’s four biggest banks will be barred from collectively bargaining with Apple Inc (AAPL.O) in relation to its mobile digital payments system, under a draft decision released by the antitrust regulator on Tuesday. The Australian Competition and Consumer Commission said letting banks collectively offer their own integrated digital wallets in Apple iPhones, in competition with Apple’s Apple Pay system, would reduce each bank’s ability […]
Dubai’s state-owned utility firm has signed a power purchase agreement with Abu Dubai Future Energy Company, better known as Masdar, for the 800MW third phase of the Mohammed bin Rashid Al Maktoum Solar Park. Dubai Electricity and Water Authority (DEWA) said the agreement was signed by Saeed Mohammed Al Tayer, managing director andCEO of DEWA, and Dr Sultan Ahmed Al Jaber, UAE Minister of State and chairman […]
By Josh Smith | KABUL KABUL The U.S. military wants to replace Afghanistan’s well-worn fleet of Russian helicopters with American-made aircraft, according to a new budget proposal, a decision aimed at reducing the Afghan air force’s decades-long reliance on Russian equipment. The Afghan air force, trained and assisted by NATO advisers, has slowly gained strength, but remains too small to meet the needs of security forces struggling […]
Donald Trump was due to meet former critic Mitt Romney for a second time on Wednesday as aides to the president-elect stepped up a public rearguard action against the possible appointment of the one-time Republican nominee as secretary of state. Mr Trump has narrowed the list of candidates to several frontrunners, including Mr Romney and Rudy Giuliani, the former New York mayor and a faithful ally of the […]
By Sue-Lin Wong | DANDONG, China DANDONG, China A labour agent sat in his bus on a recent frigid morning, waiting to cross the “Friendship Bridge” at China’s main border post with North Korea. He had come to pick up migrant workers and take them to jobs in factories and restaurants in China. The single-lane bridge in the border city of Dandong is the main gateway for international trade […]
Aramex founder and Wamda Capital chairman Fadi Ghandour has called on investors in the region to invest in startups in their early stages. Speaking at the 2016 Arabian Business Digital Forum, Ghandour said funding startups is a crucial part to building a healthy business ecosystem. “Not everyone like my friend Mohamed Alabbar can launch businesses with $1b. But thousands of startups, if we don’t fund them, we […]
Much of the markets’ mixed reaction reflects uncertainty about a new president who has never held public office, leaving political leaders, business executives and international institutions to make bets on how a Trump administration may rewrite rules that have governed global affairs under American presidents of both parties. Continue reading the main story “For allies and adversaries alike, the election of Donald Trump represents the likely abandonment […]
By Nandita Bose and Sayantani Ghosh U.S. shoppers snapped up Cyber Monday deals on what is usually the single biggest day for internet shopping, after stellar online sales over the Thanksgiving holiday weekend. Sales on Cyber Monday were expected to finish up 9.4 percent at $3.36 billion compared with last year, according to Adobe Digital Insights. As of 10 a.m. EST on Monday, sales totaled $490 million. […]
Continuing her crusade against some seemingly imaginary election tampering claims, Jill Stein has just announced that she has officially filed a recount petition in the state of Pennsylvania. According to The Hill, Stein released the following statement: “We must recount the votes so we can build trust in our election system. We need to verify the vote in this and every election so that Americans of all […]
Reconciling accounting standards and religious principles is challenging Islamic banks and regulators as they adapt to new international book-keeping rules due to come into force in 2018. The new rules, known as IFRS 9, will leave their mark on all major products used by Islamic banks – from simple savings accounts to Islamic bonds – and impact their bottom-lines. Banks around the globe are gearing up to […]
54% of Amman residents rate the quality of education institutions as good or excellent, according to the 2016 Bayt.com and YouGov survey ‘Top Cities in the Middle East and North Africa’ Amman, Jordan, 28 November 2016 A new survey by Bayt.com, the number one career site in the Middle East, and YouGov, a pioneer in online market research, titled ‘Top Cities in the Middle East and North […]
|By Arabian Post Staff| Emaar chairman and leading Dubai businessman Mohammed Alabbar followed up the launch of his $1 billion online retailing venture Noon with a joint venture for online luxury sales. Alabbar announced at a press conference in Dubai that the firm Symphony Investments, owned by him, was taking 40 percent stake in the joint venture with Milan-based online retailer Yoox Net-a-Porter to profit from luxury […]
Trump team rejects effort to push vote recount | Reuters Top News | Mon Nov 28, 2016 | 10:35pm IST ‘+Reuters.inlinevideo.title+’ ‘+Reuters.inlinevideo.length+’ ‘); } WASHINGTON Donald Trump’s transition team on Monday pushed back against an emerging effort to recount votes from the Nov. 8 presidential election, calling it “nonsense,” but not offering any evidence to back the president-elect’s weekend tweet alleging millions of illegal votes. The Green […]
Time Inc (TIME.N), the publisher of Time, People and Fortune magazines, has rejected a takeover bid from billionaire investor Edgar Bronfman Jr., the New York Post reported on Monday. Bronfman offered $18 per share, the Post reported, representing a premium of 30.4 percent to Time Inc’s Friday close and valuing the publisher at $1.78 billion. Time Inc’s shares jumped 18 percent to $16.05 on Monday. Bronfman, who […]
CARACAS Venezuela’s bolivar currency has depreciated an unprecedented 60 percent in a month against the U.S. dollar on the black market to trade at nearly 3,500 on Monday, according to the widely-tracked web site DolarToday. That makes the largest-denomination note of 100 bolivars now worth less than 3 U.S. cents in the crisis-hit OPEC nation. Such is the currency chaos that Venezuelans often carry rucksacks full of […]
More than 1,600 parking bays have been opened by the Roads and Transport Authority (RTA) in Dubai to ease congestion for visitors. The parking slots have been provided on both sides of the Dubai Water Canal, which opened earlier this month, the transport authority said in a statement. Maitha bin Adai, CEO of Traffic & Roads Agency, RTA, said: “The RTA has provided 1,602 additional parking slots […]
November 28, 2016 by: Jessica Dye in New York and John Paul Rathbone in Miami Donald Trump on Monday threatened to end the Obama administration accord that restored diplomatic ties between the US and Cuba if the former Cold War foe did not negotiate a better deal with his government. Following the death of longtime Cuban leader Fidel Castro on Friday, the US president-elect tweeted that he […]
DUBAI, United Arab Emirates, November 28, 2016/ — The Ashish J Thakkar Global Entrepreneurship Index of 85 countries ranks Singapore as the best environment for entrepreneurs Of the African nations, Namibia scores highest and comes 42nd overall – ahead of other prominent African markets, such as Nigeria, Kenya and South Africa The research, conducted by Mara Foundation and Opinium Research, examines the state of entrepreneurship around the […]
By Andrew Callus | PARIS PARIS France’s centre-right rallied behind free market reformist Francois Fillon as its candidate for president on Monday after a snap opinion poll showed him clear favourite to beat far-right leader Marine Le Pen in an election showdown next year. Fillon, a former prime minister who vowed to change France’s “software” with an assault on public sector spending, moved one step closer to […]
Bail in risk – €4 Trillion Italian banking system at risk as referendum looms Sunday according to Financial Times Concerns of multiple bank failures – Eight banks at risk of failure and bail ins Monte dei Paschi di Siena, third largest by assets and mid-sized banks Popolare di Vicenza, Veneto Banca and Carige and four smaller banks Italy’s banks have €360 billion of problem loans Contagion poses risks to Unicredit, […]
Syria’s Foreign Ministry on Monday denounced comments by Qatar that it will continue to back rebels against Syrian President Bashar al-Assad as merely an attempt “to raise the morale of the terrorist groups” in the face of army advances. Qatari Foreign Minister Sheikh Mohammed bin Abdulrahman al-Thani told Reuters in an interview on Sunday that Doha would continue to arm Syrian rebel groups even if US President-elect […]
By Ju-min Park | SEOUL SEOUL South Korean President Park Geun-hye cannot be questioned by Tuesday as prosecutors have requested, her lawyer said, as she resists growing calls to resign over an influence scandal that has engulfed her administration. Park is under intense pressure to step down over the crisis involving a close friend accused of meddling in state affairs, with the main opposition party seeking to […]
