Nearly a decade on from the financial crisis that took hold in 2007 and put an end to an era, the global economic environment remains unusually challenging. Nonetheless, the efforts that have been undertaken by Bahrain over the past 15 years to reform and diversify its economy, alongside the wider activities by regional governments to address the near-term fiscal challenges, means that the kingdom remains cautiously optimistic […]
By Yawen Chen and Ryan Woo | BEIJING BEIJING Business sentiment at Asia’s top companies rose to its highest in almost two years in the first quarter of 2017, buoyed by positive economic signs from the United States and China that underpinned improved global demand, a Thomson Reuters/INSEAD survey showed. The Thomson Reuters/INSEAD Asian Business Sentiment Index .TRIABS RACSI, representing the six-month outlook of 96 firms, rebounded […]
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 […]
Wednesday 02:35 GMT Overview Asian equities sank in the wake of the S&P 500’s biggest fall in more than five months as investors fretted that US President Donald Trump’s pro-growth policies could take longer than expected to come to fruition. Hot topic The S&P 500 closed down 1.2 per cent on Tuesday, dragged lower by financial stocks. It was the first time since October 11 that the […]
The biggest challenge facing Joel de la Garza, chief security officer for file sharing giant Box, is juggling the need to be secure with the need to allow for innovation. Speaking with ZDNet in Sydney, the California-based CSO explained that as a security professional, it is always hard for him to say anything positive after spending 20 years exposed to the cybersecurity threat landscape. He said he […]
The net worth of U.S. President Donald Trump has slipped, dropping by $1 billion according to Forbes’ latest list of the richest people in 2017. Released on Monday, March 20, Forbes’ new world’s billionaires list estimates that Trump’s net worth has dropped from $4.5 billion in 2016 to $3.5 billion this year. This $1 billion decline also translates to a considerable drop down the list, as Trump […]
US banks recorded their steepest slide since the wake of the June Brexit vote as the Treasury yield curve flattened and investors remained concerned that Donald Trump’s policy initiatives might take longer to pass than previously thought. The S&P 500 banks index dropped 3.9 per cent, marking its steepest fall since June 27, according to Bloomberg data. America’s largest lenders were under pressure as Bank of America […]
ROME Italian Prime Minister Paolo Gentiloni said on Tuesday that he wants to send a strong message in favour of free trade when he welcomes U.S. President Donald Trump and other world leaders in Italy in May. Italy hosts the annual meeting of seven of the world’s biggest industrialised economies (G7) in the town of Taormina in Sicily on May 26-27. It will be Trump’s first scheduled […]
By Stephanie Nebehay | GENEVA GENEVA North Korea has nothing to fear from any U.S. move to broaden sanctions aimed at cutting it off from the global financial system and will pursue “acceleration” of its nuclear and missile programmes, a Pyongyang envoy told Reuters on Tuesday. This includes developing a “pre-emptive first strike capability” and an inter-continental ballistic missile (ICBM), said Choe Myong Nam, deputy ambassador at […]
Top executives from two of the world’s biggest investment banks have warned about the perils of Brexit, saying they have begun to firm up plans to uproot jobs from London ahead of Britain’s departure from the EU. Banks had been among the most vocal opponents of Brexit in the run-up to June’s referendum, donating millions of pounds to the Remain campaign and speaking openly about the thousands […]
Tuesday 18:30 GMT What you need to know ● Sell off in financials drives S&P 500 down 1 per cent● Euro climbs to $1.08 and dollar index slips below 100● 10-year Treasury yield at lowest since start of month● Oil prices come under renewed pressure● Gold heads for fifth daily rise in a row——————- Overview A sharp and sudden sell-off for US financial stocks helped put the […]
(Image: file photo) NEW YORK — A lot of people woke up confused by the news this morning that the US government is banning electronics on some inbound flights from several Muslim-majority countries. They’re right. It doesn’t make sense. The simple rundown is that passengers on all airlines with direct flights from ten Middle Eastern and African airports — including in Turkey, Saudi Arabia, and Jordan — […]
By Elisabeth O’Leary | EDINBURGH EDINBURGH While the economic case for Scottish independence once centred on oil, people like company director Niall McLean now argue that trade is the way to ensure their country’s future prosperity – and avoid the damage of the United Kingdom leaving the EU. Turning Scotland, which sells two thirds of its exports to the rest of Britain, into a heavyweight international trader […]
21 March 2017 ZEDRA the independent global fund specialist in Trust, Corporate and Fund services can announce it has placed an order with Sovos – the tax compliance software experts – for its AEOI Reporting solution. Once implemented, the solution will help ZEDRA meet the demands of their tax, compliance and reporting obligations in line with its rapid rate of growth. More than 100 tax jurisdictions have […]
PARIS A junior French minister backed Emmanuel Macron’s presidential campaign on Tuesday, the first member of the government to do so, just hours after he consolidated his status as favourite in the first of a series of TV debates. The backing of ecology party lawmaker and biodiversity minister Barbara Pompili is expected to be followed by more defections from the government of Socialist President Francois Hollande, in […]
TOKYO Asian shares hit 21-month highs on Tuesday while the dollar and U.S. bond yields were on the backfoot on the prospect of a less hawkish than previously expected Federal Reserve policy trajectory. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.3 percent in its eighth consecutive day of gains with tech-heavy Seoul and Taipei shares .KS11 .TWII hitting two-year highs while Hong Kong’s Hang […]
Fashion Forward kicks off at Dubai’s Design District on Thursday with a packed three days of runway shows, sector talks and designer presentations. The latest edition will see 17 new brands debuting their collections before eagle-eyed buyers, members of the press and public. The significant leap in participant numbers appears to reflect renewed optimism when it comes to the wider fashion industry. According to a Dubai Chamber […]
DUBAI: Houthis have directly contributed to the humanitarian disaster in Yemen by preventing aid from reaching vulnerable members of the population, Yemen’s ambassador to the US said in a recently-penned opinion editorial published in Newsweek.Ambassador Ahmed Awad BinMubarak raises the question of why “thousands have lost their lives and tens of thousands more have lost their homes and livelihoods” when these communities live nearby one of Yemen’s […]
Big Chinese cities have launched a new round of lending curbs and purchase restrictions in an effort to cool overheated property markets, as official media warn that some have veered towards a bubble. Sky-high prices in cities including Beijing, Shanghai, and Shenzhen are stoking anger, even among relatively well-off professionals. Meanwhile, controlling financial risk has emerged as the dominant economic policy theme for 2017. At the conclusion of the […]
The release of the Panama Papers exposed an elaborate kickback scheme whose tentacles spread from the Caribbean island of Aruba to warehouses in Doral to the offshore banking haven of Panama City, according to a lawsuit filed in Miami federal court. The scam was allegedly hatched by Egbert Koolman, an employee of Aruba’s state-owned telecommunications provider, Setar. Koolman’s job was to buy phones from suppliers around the […]
Rhetoric has recently trumped reality. It has become a misconceived bit of common “knowledge” that the United States of America is a bastion of free trade. Little could be further from the truth. The “freest” nation on earth, as we are taught to believe, imposes a staggering number of tariffs, import and export bans, sanctions and embargoes. Yet somehow “free trade” is blamed for the financial ills […]
By Matt Spetalnick and David Brunnstrom | WASHINGTON WASHINGTON The Trump administration is considering sweeping sanctions aimed at cutting North Korea off from the global financial system as part of a broad review of measures to counter Pyongyang’s nuclear and missile threat, a senior U.S. official said on Monday. The sanctions would be part of a multi-pronged approach of increased economic and diplomatic pressure – especially on […]
DUBAI // If the humanitarian and refugee crises affecting the region today are not properly addressed they will return as major issues for tomorrow’s generation, according to the Minister of Education. On Monday at the Youth Engagement and Global Refugee Crisis at the American University in Dubai, Hussain Al Hammadi said that the UAE was working on instilling a culture of volunteering in school curriculums to ensure […]
When Tim Armour graduated from Middlebury College, a liberal arts institution in Vermont, he faced a conundrum. He could either accept a graduate programme slot at a West Coast investment group, or go and run a windsurf shop in Florida. Because he loved to windsurf but did not want to turn down a more sensible job, he asked the asset manager whether he could put off the […]
