Long-term borrowing costs for lower-quality US investment-grade companies are nearing 5 per cent — the highest level in nine months — as investors anticipate rising inflation and higher growth, reversing from the six-decade low touched earlier this year. The average yield on the closely followed Moody’s Baa index has climbed to 4.9 per cent, the highest since March when the US credit market slowly recovered from a […]
SYDNEY Investigators looking for missing Malaysia Airlines flight MH370 are making their last sweep of the search area in the Indian Ocean, Australian authorities leading the search said on Wednesday. Flight MH370 disappeared in March 2014 with 239 passengers and crew on board, most of them Chinese, en route to Beijing from the Malaysian capital of Kuala Lumpur. Its whereabouts have become one of the world’s greatest […]
CHAKDARA: Jamaat-e-Islami (JI) chief Sirajul Haq on Sunday said that opposition parties would take the Panama Papers case to the masses court if they were disappointed by the apex court. Talking to reporters here, he said there was a contradiction in the Prime Minister’s speech in the parliament and Supreme Court statement. He said that prime minister did not meet the criteria under Article 62 and 63 […]
It’s rare for a court to prohibit a newspaper from writing about something — even when it implicates national security — and even rarer for such an order to be upheld. Lawyers for New Jersey battling a local newspaper in court say in their case, their demands for prior restraint should trump the tallest of First Amendment […] (via WSJ)
In this July 20, 2015 file photo, a pedestrian crosses in front of a vehicle as part of a demonstration at Mcity on its opening day on the University of Michigan campus in Ann Arbor, Mich. Cars that wirelessly talk to each other are finally ready for the road, creating the potential to dramatically reduce traffic deaths, improve the safety of self-driving cars and someday maybe even […]
Low interest rates pose one of the biggest threats to the US economy and expose investors to the potential for heavy loses from a price shock across a range of markets, according to an independent arm of the US Treasury. The concerns are raised in the Office of Financial Research’s annual financial stability report to Congress, which concludes that threats to stability remain “in a medium range”. […]
The 13th Dubai International Film Festival draws to a close on Wednesday, with the regional premiere of Rogue One: A Star Wars Story. Whether you are a film buff, a casual movie fan, an industry guru or an aspiring filmmaker, it is safe to say that this year’s edition was one of the best. The number of films was up on last year, to 156, after a […]
Wall Street looked set to open higher on Tuesday, as investors keep a close watch of the Federal Reserve’s two-day meeting where it is widely expected to raise interest rates for the second time since the financial crisis. A hike of 25 basis points in the Fed’s target range of 0.25-0.50 percent is priced in, but investors will be examining the Fed’s statement and economic forecasts for […]
Demand for oil will outstrip supply in the next six months as long as Opec and countries outside the cartel can implement a deal signed over the weekend to lower output, according to one of the world’s leading energy forecasters. The International Energy Agency said the planned production cuts, which add up to 1.8m barrels a day, could reduce stockpiles by as much as 600,000 b/d over […]
The battle for eastern Aleppo will be over soon, but tens of thousands of Syrians there will find little peace. The victory for the government of President Bashar al-Assad will open another violent, disorienting chapter in their lives, and a dangerous one for the opposition. Soon, civilians and rebel fighters alike will either be punished or have to flee the city and join the many thousands of […]
Bahrain LNG, the developer of the Gulf state’s receiving and regasification terminal for liquefied natural gas (LNG), has closed a $741 million syndicated loan for the platform’s construction, according to a company statement on Monday. “The project is being developed to supplement local gas production in Bahrain and ensure capacity to meet peak seasonal gas demand and industrial growth,” the statement said. While the Gulf region is […]
Bubbly home prices in London’s most exclusive neighborhoods continue to deflate and have just recorded their largest December decline since the “great recession” in 2010. According to Bloomberg, asking prices in London dropped 4.3% in December with inner London down 6%. Meanwhile, the most exclusive neighborhoods, like Kensinton and Chelsea, have recorded even sharper declines at nearly 10% as home buyers have migrated to cheaper areas of […]
Algebris Investments, a London-based asset manager, is seeking to raise €1bn for a second fund aimed at Italy’s non-performing loans as investors’ interest in what’s been the Achilles heel of the country’s banking sector intensifies. The launch by Algebris, which has $6bn in assets under management, comes amid increased focus by foreign investors on the potential of Italy’s pile of €360bn of problem loans, of which €200bn […]
Michael Moritz – chairman of Sequoia Capital and one of the most successful venture capitalists in history – says a simple vision led him to invest hundreds of millions of dollars in on-demand delivery startups. “The movement of goods and services and people, by easier, more convenient means,” he said in an interview. “That’s a huge trend, enabled by smartphones.” Led by Sequoia and another blue-chip Silicon […]
Here’s a little known fact about supermoons: They’re made up and a complete waste of everyone’s time. Supermoons are a by-product of an always-on media machine that demands a constant stream of things to comment on and—in the absence of actual commentary-worthy items—is more than willing to completely fabricate them. The term “supermoon” refers to a full moon that occurs when the moon […]
Saudi police detained a young woman for violating modesty rules after she removed her abaya, the loose-fitting, full-length robes women are required to wear, on a main street in the capital Riyadh, local media reported on Monday. The conservative Muslim country enforces a strict dress code for women in public, bans them from driving and prohibits the mixing of sexes. The Arabic-language al-Sharq newspaper reported that the […]
12 December 2016 Dubai, UAE: Deyaar has launched a fresh drive to help customers make the right investment choices, with a range of generous promotional offers that include zero down payments on new properties and waivers for Dubai Land department fee. Marking the end of a successful year, Deyaar is launching the promotion that covers some of its key residential projects – Midtown, Mont Rose and Ruby […]
Abu Dhabi’s hosting of the Formula One championship showdown race last month helped raise the fortunes of hoteliers in the emirate, according to data from industry analysts STR. Despite a year-on-year decrease, the absolute level of average daily rates would be the highest in Abu Dhabi since last November, boosted by visitors coming to see Lewis Hamilton and Nico Rosberg go head-to-head for the world title, STR […]
A month ago, India asked more than 1.2 billion people to turn out their pockets and turn in their old bank notes, all in an effort to stamp out corruption and tax evasion. A colossal undertaking by any standard, the experiment has unfolded in ways that few nations’ administrators might have been able to predict. That has forced the Indian government to adapt, sometimes without warning, to […]
ABU DHABI // Women members of parliament have an important role in brokering peace in the Middle East and beyond, a conference heard on Monday. About 50 women who preside over parliaments met in Abu Dhabi for the Global Summit of Women Speakers of Parliament. For the first time men were invited to participate, including Sheikh Saif bin Zayed, Minister of Interior and Deputy Prime Minister, who […]
Prosecutors have declined to pursue charges against a lawyer for the city of Philadelphia suspected of helping to vandalize a grocery store with anti-Trump graffiti. The assistant city solicitor investigated in connection with the Nov. 25 incident agreed to perform community service and will keep his job, reports the Philadelphia Inquirer: Duncan Lloyd, 32, was identified in surveillance footage that captured Lloyd and a second man walking […]
More than two million people lived in Mosul when it fell to the Islamic State on June 10, 2014. It was a conservative city where most women already covered their hair with a scarf and their arms with long sleeves. But as in other places where the militants imposed their creed, the new rules took enforced modesty to such an extreme that it riled families in Mosul, […]
ABU DHABI // With kindergarten pupils making up nearly 20 per cent of the private schools population, investors are being encouraged to open more schools catering to the early years education. The Abu Dhabi Education Council, which regulates private schools in the emirate, recently held a workshop for about 60 prospective and current investors to offer information on the business opportunities available in the education market. It […]
Submitted by Michale Shedlock via MishTalk.com, The eurozone cannot survive without Italy. The serious problem at the moment is the Eurozone also cannot survive with Italy. Two of Italy’s three largest parties are anti-Euro. The only party in Italy that does support the euro is ex-prime minister Matteo Renzi’s Democratic Party. And with Renzi gone, there’s a huge risk the party splinters. Regardless, there are no likely […]
