After a day of chaotic communication, a stock sell-off and a $6.3bn writedown that may destroy one of Japan’s greatest industrial names, the Toshiba president’s bow of apology finally came. Satoshi Tsunakawa’s head nodded for just one perfunctory second on Tuesday. Most assume there will be much deeper, longer bows to come as Toshiba leads investors, customers, employees and Japan as a whole through the country’s first […]
SK Telecom, Deutsche Telekom, and Ericsson have demonstrated an intercontinental 5G trial network that will allow roaming services for the upcoming next-generation network. The South Korean telco and its German counterpart’s network slices are now available in each other’s footprint, the companies said. The successful demonstration was hosted at Deutsche Telekom’s R&D center in Bonn, Germany and SK Telecom’s at Yeongjongdo, where it also tested 5G connected […]
ABB collaborates with DEWA to integrate solar energy and support UAE’s clean energy ambition Zurich, Switzerland, February 14, 2017 ABB has successfully energized a major substation that will help evacuate power from the Mohamed Bin Rashid Al Maktoum (MBR) Solar Park, a key element of the vision to generate 7 percent of Dubai’s power from clean energy sources by 2020; 25 percent by 2030, and 75 percent […]
The big publishing story this week is about a Palestinian-American author who has sold her debut novel to Harper for a sizeable fee. Etaf Rum’s The Place an Arrow Shoots From sounds great: publisher Erin Wicks calls it “the story of three generations of Palestinian-American women living in Brooklyn as they struggle to reconcile their individual desires with the demands of their Arab-Muslim culture”. Their identities come […]
When Federal Reserve chair Janet Yellen testifies before a Senate committee on the state of the economy on Tuesday, there will be plenty tuning in who believe the epitaph for the three-decade rally in the bond market has been rightly written. US president Donald Trump’s plan to ramp up government spending and axe corporate taxes threatens to accelerate inflation, push up interest rates and widen the deficit […]
By Rozanna Latiff and Ebrahim Harris | KUALA LUMPUR KUALA LUMPUR The slight girl in a turquoise headscarf held back tears as she recalled what happened when she fled to Malaysia from Myanmar’s violence-hit Rakhine state. Just 12-years-old at the time, she was forced to wed a man she did not know, and who was more than a decade older than her. The teenager, who is not […]
Saudi Arabia is to host its first ever Comic Con as the Gulf kingdom aims to expand its offering of entertainment events. Supported by the recently-formed General Entertainment Authority, Comic Con will take place in Jeddah later this week. The authority is a government-sanctioned body borne out of Saudi Arabia’s Vision 2030 program and will partner with both government bodies and the private sector to grow the […]
By Manolo Serapio Jr | SANTA CRUZ, Philippines SANTA CRUZ, Philippines His brother kept telling him that the mine would reopen and he would be hired again: but when Winston Ordonez didn’t get a call from a mining firm, he took a laptop charger cable, tied it around his neck and hanged himself in his kitchen. Ordonez worked at the nickel mine operated by Eramen Minerals Inc […]
The reaction to a strike at the world’s largest copper mine underlines the sharp reversal in fortune in one of the world’s key metals over the past four months. Copper has jumped 5 per cent in the past two days to a two-year high after a strike at the Escondida mine in Chile raised supply fears about a market that has been starved of investment. The dispute […]
By Lucia Mutikani | WASHINGTON WASHINGTON U.S. producer prices recorded their largest gain in more than four years in January amid increases in the cost of energy products, but a strong dollar continued to keep underlying inflation at the factory gate tame. Rising raw material costs are boosting producer prices across the globe, notably in China, which is the biggest source of U.S. imports. But economists still […]
Greece is planning to appoint Rothschild to advise on its debts as the country attempts to end a long-running creditor stand-off and avert default. Government officials hope to finalise the appointment before a gathering of eurozone finance ministers on February 20 that has been described as the last chance for Greece’s lenders to overcome their differences before European attention shifts to general elections in eurozone countries. Unless […]
LONDON Britain has summoned North Korea’s ambassador to express its condemnation of the country’s weekend ballistic missile launch, the Foreign Office said on Tuesday. North Korea said on Tuesday its missile launches were “self-defence measures”, rejecting U.N. Security Council criticism of the test. The United States has demanded international action against Pyongyang’s weapons programmes. “We urge North Korea to stop its provocative actions, which threaten international peace […]
PARIS France honored the A380 superjumbo with a place in its national aerospace museum on Tuesday, granting it equal status with the Boeing 747 even as questions pile up over the future of the industry’s biggest jets. The A380 test plane, the fourth to be built and the second to actually fly in 2005, flew to Le Bourget near Paris from Toulouse with 50 technicians who will […]
By Pamela Barbaglia and Edward Taylor | LONDON/FRANKFURT LONDON/FRANKFURT PSA Group (PEUP.PA) is holding talks with General Motors (GM.N) about buying its European Opel division, the French carmaker said on Tuesday, a deal which would increase competition for market leader Volkswagen (VOWG_p.DE). The maker of Peugeot, Citroen and DS cars is “exploring a number of strategic initiatives with GM with the aim of increasing its profitability and […]
A few days before the retreat, I met up with the man who, perhaps more than any other figure in the conservative movement, had maneuvered the party toward complete and unbending opposition to Obamacare: Michael Needham of the Heritage Foundation. Needham, 35, is the chief executive of Heritage Action for America, a feral cur of a lobbying organization established by the venerable conservative think tank in 2010 […]
Tenants in Dubai could have the upper hand when negotiating rental rates thanks to a significant amount of stock coming to the market in 2017, according to real estate consultancy Asteco. Its new report said there are 31,500 apartments and 12,500 villas and townhouses scheduled to be delivered this year in areas including City Walk by Meraas, Damac’s Akoya, Dubai Wharf by Dubai Properties and Emaar’s Mira. […]
People ride Ofo-bicycles in Shanghai Unlock them with an app, drop them off anywhere, and nip past lanes of stationary car traffic: the humble bicycle is seeing a revival in China as a new generation of start-ups help tackle urban congestion and pollution with fleets of brightly coloured two wheelers. The bike-share concept has attracted huge venture capital as fledgling firms wrestle for market share. Such has […]
The Board of Directors of the Financial Intelligence Analysis Unit has appointed a new Director following a public call for applications, as stated in a press release issued by the government, named Kenneth Farrugia. Mr Farrugia’s term comes starts from 13 February 2017. The appointment follows a public call for applications as well as an interviewing process which involved several applicants, a short listing process […]
Submitted by Milton Ezrati via The Strategic Culture Foundation, Just about every adult on earth has seen this show before. Greece faces a debt repayment that it cannot meet: for this performance, €86 billion due in July. It needs fresh bailout funds from the European Union and/or the International Monetary Fund because borrowing directly on global capital markets comes at too high a cost—10 percent to replace […]
SYDNEY Asian shares inched to 19-month highs on Tuesday as the potential for economic stimulus in the United States underpinned the dollar, bond yields and Wall Street stocks. Yet caution bled into markets ahead of testimony by the head of the Federal Reserve, which could highlight the likelihood of two or more U.S. interest rate hikes this year. Japanese shares also ran into trouble after Toshiba Corp […]
HONG KONG A Hong Kong court found seven police officers guilty on Tuesday of beating a handcuffed pro-democracy activist during demonstrations in 2014, a rare incident of police brutality in the financial hub that triggered public outrage. The 79 days of student-led protests paralysed parts of Hong Kong and posed one of the greatest challenges to the central government in Beijing in decades. But Beijing gave no […]
After last night’s news that Trump (and Steve Bannon) are now actively deciding whether to fire National Security Advisor Mike Flynn over the recent scandal involving his [hone calls with Russian ambassador, Sergey Kislyak, discussing the Russian sanction something he denied publicly on several occasions, yet which now appears to have been the case, the ice below Flynn got thinner this afternoon when the Trump administration for […]
The value of stocks listed on the S&P 500 eclipsed $20tn on Monday for the first time, as investor optimism over faster US economic growth and stronger corporate profits propelled the Wall Street equity gauge deeper into record territory. The index, which tracks the largest American companies, has rallied by close to 25 per cent over the past year, pushing its market value $3.6tn higher, according to […]
Dubai-UAE: 13 February, 2017 The UAE imports 85 percent of its food at the cost of 15 percent of its GDP. Though this might be a scary thought, it is also an opportunity for this generation to make a real impact, said Caleb Harper on the second day of the World Government Summit 2017 in Dubai. Harper is the Principal Investigator and Director of the Open Agriculture […]
