Tuesday 06:00 BST Overview Stocks across Asia were mixed on Tuesday as investors grappled with Wall Street’s lowest level of volatility since before the financial crisis amid a holiday-interrupted week. European bourses are expected to open higher, with spreadbetters predicting the UK’s FTSE 100 will climb 26 points to 7,230 and Germany’s Dax to gain 22 points to 12,460. US index futures suggest the S&P 500 will […]
For nearly two months, American International Group Inc (AIG.N) has planned to replace its chief executive but a successor has yet to be named, creating a void that has fueled investor concern about the insurance company’s future. AIG reports its first-quarter earnings on Wednesday and analysts and investors said they want to know more about AIG’s succession plans. Chief Executive Officer Peter Hancock announced on March 9 […]
PANAMA CITY (AFP) – The co-founder of the law firm at the center of the Panama Papers scandal says the fallout has set off a “thriving” boom in the creation of tax shelters in the United States. Juergen Mossack, who partnered with Ramon Fonseca to create the Panamanian firm Mossack Fonseca, said in a document obtained on Thursday (April 21) by AFP that after the Panama Papers […]
Dubai, May 1, 2017 Western Union, a leader in global payments, today announced a collaboration with the Arab Federation for e-Commerce, to jointly boost the uptake of e-Commerce and digital payments in the Middle East and North Africa (MENA) region. Representing 14 governments from MENA, the Arab Federation of e-Commerce aims to establish efficient processes, practices and platforms for the development of secure and efficient e-commerce to […]
Dr Sheikh Sultan bin Mohammed Al Qasimi, Ruler of Sharjah, has issued a decree establishing the Big Heart Foundation, a charity which aims to raise awareness about the suffering of refugees. The decree states that Sheikha Jawaher bint Mohammed Al Qasimi, Eminent Advocate for Refugee Children at the United Nations High Commissioner for Refugees (UNHCR), and wife of the ruler, will chair the foundation, state news agency […]
Melbourne IT has announced the proposed acquisition of internet marketing service provider WME Group for approximately AU$39 million. WME Group provides digital marketing solutions, including search engine optimisation, search engine advertising, and web design. WME Group’s market-facing brands include WME, Nothing But Web, and Results First. With WME Group under its brand, the Australian Securities Exchange (ASX)-listed company told shareholders on Tuesday it hopes to position itself […]
Cisco has announced that it is acquiring Viptela, a software-defined wide area network (SD-WAN) startup based in San Jose, California, in a deal worth $610 million. Founded by former Cisco engineers Amir Khan and Khalid Raza, Viptela delivers end-to-end network virtualisation that allows for application aware routing, service chaining, centralised policy, and orchestration capabilities. The company has raised more than $108 million since its founding in 2012. […]
ABU DHABI // Heavier fines will be levied on petrol smugglers in the UAE’s drive to protect its petroleum industry. FNC members will on Tuesday debate a legislative bill to jail petrol smugglers for between one and three years and impose a Dh500,000 fine for repeat offences. The current penalty is a jail term and a Dh30,000 fine. A national law is needed to govern the transfer, […]
Since the emergence of the single market in Asean, many companies are expanding their markets outside of their home country whereas others are still struggling. Some firms have already entered neighbouring markets while others are looking even farther beyond the Asean Economic Community. Research shows that firms in different industries look at the AEC from different perspectives. For example, firms in the financial industry seem to support […]
TORONTO An explosion rocked Toronto’s financial district on Monday afternoon, prompting the police to close off a section of the downtown area as heavy smoke billowed out of sewer grates. Toronto’s fire chief told CBC’s French-language channel that the blast may have been caused by a power transformer explosion. Heavy smoke was pouring out of sewer grates at the corner of King and Bay Street, in the […]
Advanced Micro Devices (AMD) published its first quarter financial results on Monday, meeting market expectations. However, AMD shares fell in after-hours trading. As Wall Street anticipated, the company posted a non-GAAP net loss of $38 million, or 4 cents per share, on revenue of $984 million. Revenue was up 18 percent year-over-year, largely driven by demand for Ryzen CPUs, CEO Lisa Su noted. “We are positioned for […]
Mubadala Investment Company, established after the merger of Mubadala Development Company and International Petroleum Investment Company, began operations on Monday. The new entity is expected to accelerate Abu Dhabi’s economic diversification as it is active in 13 business sectors in more than 30 countries globally, state news agency WAM reported. The new firm’s total assets of about $125 billion, based on valuations at the end of 2015, […]
US stock markets climbed higher on Monday, as bipartisan agreement over a US budget deal overpowered weak manufacturing data in the US and China, with European markets closed for the May bank holiday. The benchmark S&P 500 climbed 0.3 per cent by midday in New York on news of the budget deal, shrugging off an initial tumble when data from the Institute for Supply Management showed America’s […]
Hamas, the militant Islamist group, on Monday dropped a call for Israel’s destruction and endorsed the creation of a Palestinian state inside 1967 borders, in a rhetorical shift that analysts said reflected the group’s political ambitions and changing priorities in a new Middle East. A policy paper released in Doha by Khaled Meshaal, Hamas’s political leader, described the creation of an interim Palestinian state in the 1967 […]
US corporate boardrooms’ approval of share buyback plans has fallen to its lowest level since 2012, signalling that the stock market’s surge to further highs this year is curbing a key source of demand for equities. Companies on the S&P 500 index have authorised $146bn in share buybacks this year, down 15 per cent from a year ago, according to data from Goldman Sachs. Executives have also […]
A club of top bankers, investors and Treasury officials will this week meet at the venerable Hay-Adams hotel in downtown Washington to discuss the US government’s borrowing plans. It could be a blockbuster meeting. The Treasury Borrowing Advisory Committee meets quarterly to discuss with senior government officials the best way for the US to finance its budget deficit. It is made up of senior executives from hedge […]
The practice of “stealthing” refers to men secretly removing or damaging condoms without their partners’ knowledge. Apart from the health concerns associated with this practice, the experience is jarring for the victims, and leaves them feeling violated, confused, and upset. Alexandra Brodsky, fellow at the National Women’s Law Center, studied the phenomenon back when she was a student at Yale Law School and detailed her findings in […]
Theresa May’s critics have attacked the British prime minister for having “no plan” over Brexit in the wake of a leaked account of a private dinner that heightened tensions between Brussels and London. A report published in the Frankfurter Allgemeine Sonntagszeitung portrayed last Wednesday’s dinner between Mrs May and European Commission president Jean-Claude Juncker as a disaster. According to the FAZ, commission officials were astonished at Mrs […]
Besides the upcoming FOMC meeting on May 2-3, and French & Italian politics – the decisive runoff round of the French election takes place this Sunday – this week’s releases are dominated by US payrolls expected to come around 170k. The busy release calendar continues with Norges bank and RBA meetings as well as global manufacturing PMIs. The market’s focus during the week of 5/1 will begin […]
By Jessica Toonkel and Lauren Hirsch | NEW YORK NEW YORK Twenty-First Century Fox Inc (FOXA.O) is in talks with Blackstone Group LP (BX.N) about submitting an offer to buy Tribune Media Co (TRCO.N), one of the largest U.S. television station operators, sources familiar with the matter said on Sunday. Blackstone, the largest manager of private equity and real estate assets, would provide the cash, while Fox, […]
22 February 2016 – Journalist Daphne Caruana Galizia posted the first major hint that the biggest scandal in Maltese history was about to break. “It’s traditional to eat lamb on Easter Sunday, so Konrad Mizzi and his estranged wife Sai Mizzi Liang will be getting theirs from New Zealand, courtesy of their fixer Brian Tonna, who has a desk at the Auberge de Castille”. […]
IT services firm Unisys has published the 2016 financial results of its Australian chapter, reporting an after-tax loss of AU$3.3 million, down from the AU$709,000 after-tax profit recorded a year prior. Revenue for the 12-month period was AU$237.7 million, up from the AU$201.5 million in annual revenue reported for 2015. As a result of the loss, Unisys Australia was handed a AU$1.3 million income tax benefit from […]
Hanging over discussion of Federal Reserve tightening has been a potentially market-shaking question: how to safely unwind the crisis-era asset purchases that bloated the central bank’s balance sheet. Policymakers led by Janet Yellen, the Fed chair, have approached the topic gingerly, acutely aware of the potential to repeat the so-called taper tantrum of 2013, where ill-timed talk of slowing bond purchases roiled global markets. Yet for all the […]
30 April 2017 COLOMBES, France–(BUSINESS WIRE/ME NewsWire)– OT (Oberthur Technologies), a leading global provider of embedded security software products, services and solutions and a forerunner in the payment sector, has been selected by Mashreq Bank to deploy Instant Card Issuance in the United Arab Emirates (UAE). Mashreq Bank is one of the UAE’s leading financial institutions. Established in 1967 by the Al-Ghurair Group, it is the largest […]
