ZTE Corporation has released its financial results for 2016, reporting full-revenue of 101.2 billion yuan, an increase of 1.04 percent to the 100.18 billion yuan reported in the previous corresponding period. The Chinese telecommunications hardware vendor, which had delayed the release of its 2016 annual report to assess the impact of the Iran sanctions case, admitted it slipped to a net loss of 2.36 billion yuan in […]
Donald Trump suffered a big blow as Republican leaders postponed a vote on the party’s healthcare bill following their failure to unite conservatives around the effort to replace the Obamacare law that they had spent years vowing to repeal. Paul Ryan, the Republican Speaker of the House, abandoned the vote on Thursday afternoon after a final effort by the White House to convince conservative rebels to support […]
The irony of revelations from the Global Laundromat scandal landing almost exactly a year on from the Panama Paper leaks is not lost on many readers. Clearly the lip-service to greater transparency that followed the financial leak has come to nought. The Laundromat scandal has exposed billions of dollars being moved out of Russia through anonymously owned UK companies and Britain’s high street banks. Anonymous companies – the […]
Dubai, 22nd March 2017 After analyzing information on more than 31 million Wi-Fi hotspots around the world, Kaspersky Lab has found that every fourth (28%) is unsecured and poses a risk to users’ personal data. That means all the traffic transmitted over those networks, including personal messages, passwords, documents and much more, can be easily intercepted and used by attackers. According to Kaspersky Security Network[1], 25% of […]
One of the brightest lights in local journalism suffered a setback late last year when Raleigh Agenda, the sister site of Charlotte Agenda, closed its doors after failing to find a sustainable business model. But the closure of the site didn’t prevent the parent company from banking a comfortable profit in 2016, said Ted Williams, Charlotte Agenda’s cofounder and publisher. The company brought in about $875,000 in […]
BlackRock and Pimco are refusing to take part in the first bond sale by a Portuguese bank in more than a year, because of a legal battle with the country’s central bank over losses sustained in 2015. Caixa Geral de Depósitos, the state-owned Portuguese bank, is this week courting investors in London and Paris, as it seeks to sell a €500m subordinated bond, in what would be […]
Predicting and acting upon financial fraud is one of the prime areas of application of advanced big data techniques like machine learning (ML). Earlier this week, a case of money laundering known as the Laundromat was uncovered by the Organized Crime and Corruption Reporting Project (OCCRP) involving a number of global banks active in the UK. Could ML help prevent such incidents? What progress is there on […]
To vote, or not to vote, that is the only question on the minds of Trump’s White House and House Republicans this morning. If everything proceeds as planned, the Obamacare vote is currently scheduled for 7pm tonight. That said, the further we press into today without confirmation that Republicans have narrowed the opposition votes from their own party down to 22 or less (as of last night […]
Imagine that The New York Times, The Washington Post and PBS launched a joint fact-checking project. That is, roughly speaking, what happened in Norway earlier this week. VG and Dagbladet, Norway’s two largest online news sources by readership, joined forces with NRK, the public broadcaster, to launch Faktisk. The initiative, a team of at least five journalists led by investigative reporter Kristoffer Egeberg, will start publishing by June […]
Finance Ministry officials disclosed results of the first part of an investigation that found 120 Costa Rican companies and corporations linked to cases in the so-called Panama Papers. Ministry and Tax Administration officials have found 79 companies and 41 corporations from the real estate, agricultural, commercial, legal and consultant sectors in the documents so far. Of these, the Ministry has fully identified a total of 69, and the remaining 51 are still […]
UAE, March 23, 2017 – Drake & Scull International PJSC (“DSI” or the “Company”), a regional engineering and services leader, signed today the sale deal of its ownership share in the ONE PALM development in Dubai. The ONE PALM development, a joint venture project between Omniyat Properties and DSI, was launched in 2014. The flagship project is located on the left trunk of Palm Jumeirah and is […]
The New South Wales government has announced the appointment of Dr Maria Milosavljevic as the state’s inaugural government chief information security officer (GCISO). Milosavljevic will leave her current role as the chief innovation officer and chief information security officer at AUSTRAC — Australia’s financial intelligence agency — to take up the new gig with the NSW government, where she will work with industry, all levels of government, […]
March 23, 2017 by: Peter Wells in Hong Kong Thursday 02.15 GMT Overview Asian markets were in a more subdued mood and making a tentative recovery from a midweek sell-off in which many global stock markets suffered their worst session since the US presidential election. A terror attack in London on Wednesday also kept investors in a cautious mood. Hot topic A jolt to global financial markets […]
New Zealand telecommunications carrier TeamTalk has urged its shareholders to reject the “predatory” and “exploitative” takeover by mobile carrier Spark, obtaining an independent assessment to demonstrate that the acquisition undervalues the company’s value to the tune of around NZ$22.8 million to NZ$39.6 million. “Your directors recommend that you reject the Spark offer,” TeamTalk headed its latest missive to shareholders. “The independent adviser’s value range for TeamTalk’s three […]
Your daily guide to community and cultural activities across the Emirates for March 23, 2017, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. Ellen Fortini rounds up 10 things to do today in the UAE. Want to see your event listed here? Email us with the details and contact information at [email protected] newslide Al Ain Equestrian performance Catch […]
Korea Electric Power Corp has ruled out buying Toshiba’s controlling stake in Westinghouse, but confirmed it is interested in joining the NuGen consortium that is planning to build a new UK nuclear plant. The decision by the South Korean state-run utility is a blow to Toshiba’s efforts to find a buyer for its troubled US nuclear subsidiary as the Japanese conglomerate grapples with the worst financial crisis […]
By David Morgan and Yasmeen Abutaleb | WASHINGTON WASHINGTON U.S. President Donald Trump and Republican congressional leaders worked on Wednesday to try to secure enough support in the House of Representatives to win passage of their Obamacare rollback bill, watched by wary investors in financial markets. Repealing and replacing Democrat Barack Obama’s 2010 Affordable Care Act is the first major test of Trump’s legislative ability and whether […]
New revelations reported Wednesday further intensify the spotlight on Paul Manafort, President Donald Trump’s former campaign chair and a longtime friend, who allegedly worked for years to advance the interests of Russian President Vladimir Putin in Ukraine and elsewhere. An Associated Press report says Manafort forged closer ties to the Kremlin and the formerly pro-Russian government in Ukraine than he had previously disclosed, casting another cloud over the […]
Akzo Nobel has rejected a second takeover bid in less than three weeks from US rival PPG, claiming that the revised offer of €22.4bn failed to recognise the value of the Dutch paints and chemicals group. The latest takeover attempt by the US company represented a €1.5bn improvement on the previous offer, but was not enough for Akzo Nobel’s board, who rejected it unanimously. The maker of […]
LISBON Portugal’s Prime Minister demanded the resignation of eurogroup chairman Jeroen Dijsselbloem on Wednesday over remarks he called “racist, xenophobic and sexist” and said Europe would only be credible once he left. Dijsselbloem suggested in an interview at the weekend with German newspaper Frankfurter Allgemeine Zeitung that southern European countries that received EU financial aid were spending their money “on booze and women”. “Europe will only be […]
Stock markets suffered their worst falls since the election of Donald Trump as Wall Street worries about the prospects for the US president’s pro-business agenda triggered a rush for financial havens. US markets led the declines, with the benchmark S&P 500 index tumbling 1.2 per cent and breaking a run of 109 trading days without a drop of 1 per cent or more. The Dow Jones Industrial […]
Loading Other Articles… Nearly a year after the Panama Papers set off a virtual bomb in the offshore private banking industry, advisors and their clients are still grappling with the aftershocks. In particular, the massive disclosure of private banking accounts re-emphasized the need for advisors to recognize the fine line between legal and illegal methods for hiding assets. The Panama Papers are a collection of 11.5 […]
22 March 2017 EastNets, (eastnets.com), a leading provider of innovative global compliance and payments solutions, successfully held its 14th Annual Conference 2017 from 7th-9th March at The Grand Millennium Hotel, Amman Jordan. The event was described as one of the company’s most inspiring annual conferences, which has been a company tradition that has been in effect for the last 14 years. This year’s rallying call was ’Growth: […]
SEOUL A North Korean missile launch failed on Wednesday, with the rocket exploding within seconds, the U.S. military said, the latest in a series of North Korean weapons tests to rattle its neighbours and raise tension in the region. South Korea said the apparent test launch of one missile by nuclear-capable North Korea, from the city of Wonsan on its east coast, had failed. South Korea’s defence […]
