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Click image to enlarge Companies and individuals engaged in legal, real estate, agricultural, commercial and advisory services and consultancies are among the first 120 to be investigated by the Costa Rican tax administration, said the treasury department today. The names were identified in a publicly searchable database released last April during the Panama Papers scandal by the International Consortium of Investigative Journalists (ICIJ) to publicize various types […]

By James Oliphant | WASHINGTON WASHINGTON In the end, the Closer couldn’t close the deal. For President Donald Trump, the collapse on Friday of his first legislative priority, a healthcare reform bill, was an embarrassing loss of face after he and his administration insisted up until the time of the vote by the U.S. House of Representatives that there was enough Republican support. It brings into question […]

HONG KONG — Middle-class mainlander Laura Zhang found the idea of owning a home overseas irresistible after being bombarded by commercials for an affordable project “near Singapore”. The Forest City project in the southern Malaysian state of Johor, the subject of the advertisement, is being developed by Country Garden, China’s third-largest home builder. Ms Zhang said she was told that a flat in Forest City, the developer’s […]

A new study looking into job automation estimates that millions of human workers around the world might lose their jobs to robots in the future. According to a new PwC report, many jobs worldwide risk automation from artificial intelligence and robotics by the early 2030s. However, the report notes that in many cases the jobs won’t disappear altogether, but rather change and adapt. US Jobs Most At Risk […]

When Thomas Jefferson drafted the American Declaration of Independence, “the pursuit of happiness” was an inalienable right in his first article. Whenever I hear politicians or business leaders talk about happiness, I always wonder how they define it so easily. If the billions of people around the world are all different, then different things should make us happy. There will be common denominators, including health, family, meaningful […]

March 24, 2017 by: Eric Platt in New York and Stephen Smith in London The US stock market closed lower on Friday as the Trump administration’s struggle in Congress to repeal Obamacare heightened concerns about its ability to drive through an economic agenda that had spurred equity valuations to fresh records. The S&P 500 ended down 0.1 per cent to 2,344 reversing a 0.4 per cent advance […]

Shares in one of China’s largest dairy groups plunged more than 90 per cent on the Hong Kong stock exchange on Friday, knocking $4.1bn from its market capitalisation.  China Huishan Dairy Holdings was granted a trading suspension after its shares saw one of the biggest drops in the exchange’s history, cutting its market capitalisation from $4.85bn to $750m and likely causing paper losses for investors including BlackRock and Vanguard. Hong Kong’s bourse […]

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24 March 2017 Sharjah, United Arab Emirates – The sixth International Government Communication Forum (IGCF 2017) concluded its first day of constructive dialogue, debate and engagement at the Expo Centre Sharjah, on a successful note. The event was officially inaugurated with a speech by the patron His Highness Sheikh Dr Sultan bin Mohamed Al Qasimi, UAE Supreme Council Member and Ruler of Sharjah, who welcomed the participants. […]

The Fed’s most recurring lament over the past 8 years, ever since the Financial crisis, is that there has been no measurable inflation in the US economy when using such conventional indicators as CPI, even though according to recent measurements by PriceStats real inflation, not the BLS’ seasonally-adjusted, goalseeked and politically convenient  mutant, is now running at a blistering 3.6%, the highest in five years.   That […]

Last year, Donald Trump won the election for president by bemoaning the disappearance of the American factory and pledging to bring back manufacturing from other countries. Now in power, he might have to start worrying about the decline of another traditional pillar of the US economy — the American shopping mall. Fears that the rise of online shopping will lead to substantial dislocation in the retail sector […]

Actor Shah Rukh Khan is not under investigation in the Panama Papers leak case, an Income Tax department source has revealed to India Today. “The information was factually incorrect as Shah Rukh Khan was not named in the Panama Papers leak case,” an Income Tax department source told India Today. However, the actor is under the department scanner for his other investments in offshore destinations. In the […]

Done betting, Alibaba is getting down to work in Southeast Asia as it bids to lead the region’s promising e-commerce space and maximize its early mover advantage over Amazon. Alibaba became the first major international player to enter Southeast Asia, a region with more than 600 million cumulative consumers, when it bought a majority stake in Lazada, the Rocket Internet-backed venture, nearly one year ago. Amazon, Alibaba’s key foe in India, is […]

Gold ETFs or gold bars? Bars including one kilo gold bar at bullion dealers Goldcore, in London, U.K. (March 11, 2010). Photographer: Chris Ratcliffe/Bloomberg Considering the public’s waning trust in the banking system, many investors find themselves wondering how GLD stacks up to owning the real thing. When you look at both assets more closely, it’s clear that gold ETFs and gold bullion are very different investments. […]

By Susan Cornwell and Richard Cowan | WASHINGTON WASHINGTON U.S. Republican lawmakers struggling to overcome differences over new healthcare legislation confronted a stark choice after President Donald Trump delivered an ultimatum: pass the bill on Friday or keep Obamacare in place. Trump, a real estate magnate who touted his dealmaking prowess in the 2016 presidential campaign, faced the first major test of how well his skills would […]

Ford said that slowing new car demand in the US and rising costs could halve its first-quarter earnings per share compared with last year’s record first quarter. The Detroit carmaker’s shares slipped in New York on Thursday after the company said in a statement that it now expects pre-tax profits of $9bn in 2017, down from $10.4bn last year. It expects profits to rise again in 2018. […]

Not everything is Donald Trump’s fault. And by the same token, not everything that goes right in the world can be attributed to him. It can be difficult to remember this, particularly in the US where domestic politics is crowding out almost everything else from the news, and where most people are inclined to view the news through stridently pro- or anti-Trump lenses. Mr Trump seems so […]

Abu Dhabi investment firm Waha Capital is in talks with potential partners in Saudi Arabia as it looks to diversify investment in some key sectors outside the United Arab Emirates (UAE), its chairman said. Saudi Arabia is opening its economy to foreign investment as part of its 2030 vision whereby the Middle Eastern country will rely less on oil and create more jobs for its citizens. Waha […]

By Sumeet Chatterjee | HONG KONG HONG KONG HSBC (HSBA.L) plans to add as many as 1,000 new employees to its Chinese retail banking and wealth management arm this year, the business’s regional head said, most of them in the Pearl River Delta, the heart of the bank’s growth strategy in China. If that target is hit, the new additions will mean HSBC will have hired twice […]

By Andrew MacAskill and Anjuli Davies | LONDON LONDON Britain’s Labour party has won five seats at elections in the City of London, the heart of the country’s financial district, as it seeks to challenge the borough’s centuries-old policy of independence from party politics. Britain’s main opposition party, lagging far behind the Conservatives in national opinion under its current leader, veteran socialist Jeremy Corbyn, has had its […]

Democrats criticised Donald Trump’s choice to run the Securities and Exchange Commission on Thursday, saying that Jay Clayton, a veteran securities lawyer, is too deeply entangled with Wall Street to be an effective markets cop. SEC ethics rules will require Mr Clayton, a partner with Sullivan & Cromwell in New York, to recuse himself for two years from enforcement actions involving his former clients or anyone represented […]

Friday 06:00 GMT Overview Asian stock markets continued to recover after a midweek sell-off and as a highly anticipated vote on US healthcare reform was pushed back until later on Friday. European bourses are expected to open on the front foot, with spreadbetters predicting the UK’s FTSE 100 will add 8 points to 7,349 and Germany’s Dax to advance 20 points to 12,060. Hot topic Global markets […]

23 March 2017 BisB announced that its Annual General Meeting has approved all items in its meeting agenda, in its meeting held in Bahrain Bourse’s Hall at Bahrain Financial Harbor Building at 10:00 am on Thursday 23rd March 2017. After ascertaining that meeting quorum has been satisfied with (86.9%) of the shareholders in attendance, Dr. Esam Abdulla Fakhro, Chairman of the Board of Directors of Bahrain Islamic […]

By Venus Wu and Jess Macy Yu | HONG KONG HONG KONG Hong Kong on Sunday will likely select Beijing’s favoured candidate for its next leader who some say will further divide a city where middle class families have become increasingly disaffected by political tension and economic hardship. The former British colony, governed under a “one country, two systems” arrangement, was promised a high degree of autonomy […]

Federal investigators are looking at whether the $81 million stolen from a Bangladesh central bank account at the Federal Reserve Bank of New York last year has links to North Korea. This is due to similarities in the code used in the online heist and in an earlier breach of Sony Pictures, according to two insiders quoted by Bloomberg and who asked to remain unidentified since the […]

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