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 […]
CRA assistant commissioner Ted Gallivan said tax fraudsters identified in the Panama Papers will not be allowed to clear their name by declaring their hidden assets and paying back taxes and interest, a process called voluntary disclosure. (Graeme Roy / THE CANADIAN PRESS file photo) For the Canada Revenue Agency, the Panama Papers was a line in the sand. Unlike those exposed by previous leaks, tax cheats named […]
LONDON/BRUSSELS Prime Minister Theresa May will trigger Britain’s divorce proceedings with the European Union on March 29, launching two years of negotiations that will reshape the future of the country and Europe. May’s government said her permanent envoy to the EU had informed European Council President Donald Tusk of the date when Britain intends to invoke Article 50 of its Lisbon Treaty – the mechanism for starting […]
Young UAE nationals are looking for jobs in new sectors because of the changes in the country’s economic portfolio that focuses on manufacturing, technical innovation and future sciences, according to Ibrahim Al Asmawi, HR Manager, Adecco Middle East, the provider of workforce solutions. With ongoing plans of diversification of economy away from oil, many UAE nationals now seek jobs at different fields of engineering – space, mechanical […]
FX traders had a slightly delayed reaction to news that UK PM Theresa May will trigger Article 50 next Wednesday but Cable is now sliding on the headlines. However, with speculative positioning already at record lows, many are asking “why would a long-term trader sell the pound now?” As Bloomberg’s Mark Cudmore notes, it’s a question worth asking, because it seems that the vast majority of potential […]
When the European Commission published a “white paper” this month on the future of Europe, something was missing. Two weeks earlier Pierre Moscovici, EU economy commissioner, had told an audience in Athens that the blueprint would include “ambitious ideas” for “deepening of the economic and monetary union” — code for overhauling the system of budget rules and policy co-ordination that underpins the single currency. Instead, amid warnings […]
IBM IBM and Wanda Internet Technology Group have agreed to form a new joint venture to bring IBM Cloud services to China. On Sunday, the two companies announced the plans in Beijing, which includes the formation of Wanda Cloud Company, a JV which will push Wanda into the public cloud business. Based on IBM’s cloud platform, Wanda’s new offerings will focus on Chinese enterprise customers seeking to […]
March 20, 2017 by: Aliya Ram in New Delhi and Simon Mundy in Pune Vodafone, the UK-based mobile phone operator, has struck a deal to merge its Indian operations with local rival Idea Cellular to create one of the world’s largest telecoms groups, with a combined implied enterprise value of more than $23bn. The two companies on Monday confirmed the deal, which is the second merger in the […]
By Idrees Ali | WASHINGTON WASHINGTON In March 2014, the U.S. military paid an Afghan man just over $1,000 to compensate for killing his civilian son in an operation near the border with Iran, according to U.S. military records released to Reuters. Six months later, another Afghan father was given $10,000 by the U.S. military after his child, also a civilian, was killed in an American-led […]
20 March 2017 Doha, Qatar – Al Meera Consumer Goods Company (Q.S.C) held its Annual Ordinary General Assembly on Sunday, 19 March 2017 at the La Cigale Hotel Doha, in the presence of Sheikh Thani Bin Thamer Bin Mohamed Al Thani, Chairman of the Board of Directors, as well as members of the Board of Directors, shareholders and investors. All items on the agenda were discussed, such […]
By Nichola Saminather | SINGAPORE SINGAPORE Asian stocks were mixed on Monday in thin trade, following Wall Street’s declines and the G20’s decision to drop a pledge to avoid trade protectionism, while the Federal Reserve’s less hawkish-than-expected comments continued to drag the dollar lower. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS added 0.1 percent. Chinese shares .SSEC added 0.2 percent, while Hong Kong’s Hang Seng […]
Uber has lost another top executive amid a series of scandals at the ride-hailing company, with president of ridesharing Jeff Jones quitting after just six months. Mr Jones joined Uber in September last year from retailer Target, where he was chief marketing officer. He was charged with improving Uber’s brand and reputation, encompassing broad responsibility for operations, marketing and customer support. That period has seen a string […]
Our round-up of the week’s best comment and analysis from the Financial Times focuses on positive signals for the word’s second-largest economy and the implications for investors of the Federal Reserve rate rise. The selection is taken from our Markets Insight and Smart Money columns, written by industry contributors and FT commentators. Investors may be wary of being burnt by China but the drumbeat of bullish noises […]
It has been almost five years to the day since Mahmood Hashim Al Kooheji took over as head of Bahrain’s sovereign wealth fund, Mumtalakat, restructuring several investment interests and making other changes to whip the fund into shape after years of losses. It followed a term at Gulf Air in which he managed the national carrier’s controversial restructure that saw 15 percent of its staff, around 600 […]
Last weekend, after looking at the latest H.8 statement by the Fed, we noted something concerning: total loans and leases by U.S. commercial banks were rising at an annual pace of about 4.6%, based on weekly Fed data. That is down from a 6.4% pace for all of last year and peak rates of around 8% in mid-2016. This is the slowest pace of debt creation since […]
By Michelle Martin | BERLIN BERLIN Germany’s Social Democrats (SPD) on Sunday formally endorsed former European Parliament President Martin Schulz as their leader and challenger to Chancellor Angela Merkel in what is set to be a tightly contested national election in September. The SPD has undergone a revival since nominating Schulz in late January, gaining around 10 points in opinion polls and signing up thousands of new […]
By Michael Nienaber | BADEN-BADEN BADEN-BADEN The failure of the world’s financial leaders to agree on resisting protectionism and support free trade marks a setback in the G20 process and poses a risk for growth of export-driven economies such as host Germany, economists said on Sunday. Acquiescing to an increasingly protectionist United States after a two-day meeting in the German town of Baden-Baden, the finance ministers and […]
Here are the big questions for markets and investors as a new trading week beckons. Does a measured Fed risk being left behind by inflation?After a barrage of central bank meetings, Brexit angst and the first major European election for the year, market volatility across bonds and equities remains quiescent. Having been primed for a more aggressive Federal Reserve and wary of polls being wrong ahead of […]
Some jailbreaking enthusiasts have been getting impatient for an iOS 10.2.1 jailbreak from formidable hackers such as Luca Todesco, Marco Grassi, the Pangu Team, and PP Jailbreak, among others. But there hasn’t been any update from any of them since Todesco and Grassi released the Yalu102 on Jan. 26. While Todesco has already declared, however, that he’s going on hiatus after the final Yalu102 version is released — without […]
Chuck Berry, who has died aged 90, was to some the greatest rock ’n roll artist of all time: he was certainly among the most influential. All the big British bands of the 1960s, in particular The Beatles, The Rolling Stones and The Animals, looked to Berry for both inspiration and material. Their early hits such as “Roll over Beethoven”, “Come On” and “Memphis Tennessee” had all […]
For the first time ever, new research examines data from the 2007-2009 financial crisis to show how the US Federal Reserve can effectively assist banks in times of financial uncertainty. (via WSJ)
