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MEPs: Bankers, lawyers and accountants are “enablers” of tax avoidance A WIDE SUPPORT NETWORK of professional organisations “played a crucial role” in the biggest financial tax evasion scandal in world history, according to MEPs interrogating the circumstances and causes behind the Panama Papers tax scandal.  Institutions of bankers, lawyers and accountants acted as “enablers and promoters of tax avoidance” allowing corporate and financial interests to slash trillions […]

U.S. used-auto retailer Carvana LLC, which allows customers to pick up cars they buy on the internet from vending machine-like towers, has tapped investment banks for an initial public offering, according to people familiar with the matter. The move comes as more consumers become comfortable with online used-car purchases. TrueCar Inc (TRUE.O), for example, a car-shopping service that matches buyers with dealers online, has seen its shares […]

Bank shares have been the runaway winners of the post-election U.S. stock market boom as investors wagered that higher interest rates, lighter regulation, lower taxes and faster economic growth would boost profits for lenders. Up 32 percent since the election of Donald Trump, the S&P 500’s bank index .SPXBK has outpaced the wider market’s gain by roughly 3-to-1. Now, however, a changing dynamic in the bond market […]

Dubai, UAE, 9 March 2017: Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has been awarded with “Best Sukuk House” at the EMEA Finance Middle East Banking Awards 2016. The ninth edition of the EMEA Finance Middle East Banking Awards took place at the Conrad Hotel in Dubai recently, and celebrated the regional banking industry’s top achievers. Dubai Islamic Bank is an international leader […]

The way that markets are reported affects the way they are perceived, and the way that investors behave. So can the way journalists report the markets be measured? Are we doing a good job? Historically, it appears that we are not. This week, Diego Garcia of the University of Colorado at Boulder presented a paper to a conference on journalism and markets at Columbia Business School. Entitled […]

Canada’s Postmedia company is laying off more than 50 employees at The Vancouver Sun and Province after a months-long buyout process aimed at cutting the company’s payroll. Fifty-four union employees are being laid off as of April 8, according to a memo from Brian Norris, the director of human resources for the The Vancouver Sun and Province. The company is asking for volunteers, who will each receive […]

By Caroline Valetkevitch | NEW YORK NEW YORK U.S. stocks rose on Friday after a solid jobs report pointed to strength in the domestic economy and supported expectations the Federal Reserve will raise interest rates next week. Indexes ended lower for the week, however, with the S&P 500 and Nasdaq breaking a six-week streak of gains. Government data showed 235,000 jobs were added in the public and […]

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By Toni Clarke | WASHINGTON WASHINGTON U.S. President Donald Trump has chosen Dr. Scott Gottlieb, a conservative health policy expert with deep ties to the pharmaceutical industry, to lead the U.S. Food and Drug Administration, a White House official said on Friday. If confirmed by the Senate, Gottlieb would be in charge of implementing Trump’s plan to dramatically cut regulations governing food, drugs, cosmetics, dietary supplements and […]

WASHINGTON A series of tweets by White House spokesman Sean Spicer on Friday commenting on strong February job creation figures may have run afoul of federal guidance barring most officials from commenting on key economic data within an hour of its release. The rule, Statistical Policy Directive Number 3, is meant to “preserve the distinction between the policy-neutral release of data by statistical agencies and their interpretation […]

By Lucia Mutikani | WASHINGTON WASHINGTON U.S. employers hired workers at a robust pace in February, beating expectations, and wages grinded higher, which could give the Federal Reserve the green light to raise interest rates next week despite slowing economic growth. Nonfarm payrolls increased by 235,000 jobs last month as the construction sector recorded its largest gain in nearly 10 years due to unseasonably warm weather, the […]

Think to log in, please. Credit: Syda Productions/Shutterstock Biometrics – technology that can recognise individuals based on physical and behavioural traits such as their faces, voices or fingerprints – are becoming increasingly important to combat financial fraud and security threats. This is because traditional approaches, such as those based on PIN numbers or passwords, are proving too easily compromised. For example, Barclays has introduced TouchID, whereby customers […]

Dubai, 10 March 2017 Dubai Investment Development Agency (Dubai FDI), an agency of the Department of Economic Development (DED) in Dubai, along with Dubai Exports, the export promotion agency of DED, will go on a two-week tour of the US on the 11th of March 2017 as part of strengthening the emirate’s engagement with major economies to reinvigorate global trade flows and foreign investment. The mission, which […]

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By Kentaro Hamada and Makiko Yamazaki | TOKYO TOKYO The Japanese government, fretting over the future of Toshiba Corp’s flagship memory chips unit, is prepared to block a sale to bidders it deems a risk to national security, sources said, a stance that gives U.S. suitors a major advantage. The government would use Japan’s foreign exchange and foreign trade laws to control the auction if need be, […]

Kuala Lumpur, 10 March 2017 Cagamas Berhad (“Cagamas” or “the Company”), the National Mortgage Corporation of Malaysia, announced its RM2.2 billion equivalent dual currency issuance, comprising a 5-year RM2.0 billion Conventional Medium Term Notes (CMTN) which was issued under Cagamas’ existing RM40 billion Medium Term Notes Programme and a 1-year SGD50 million Sukuk. The issuance was issued through the Company’s wholly-owned subsidiary, Cagamas Global Sukuk Berhad under […]

ABU DHABI // The number of Emirati students opting to enrol in Stem courses is slowly increasing, educators say. While about 70 per cent of students choose to study business or business-related subjects, more are looking at the benefits of choosing science, technology, engineering and mathematics courses, said Dr Warren Fox, head of higher education in Dubai’s education regulator, the Knowledge and Human Development Authority. “There’s change […]

The US government’s benchmark borrowing costs remained above 2.6 per cent on Friday as investors anticipated robust US employment data ahead of a likely Federal Reserve interest rate increase next week. The benchmark 10-year yield — one of the most widely followed interest rates in the global economy — was at 2.61 per cent by early in London, its highest level since December and up from below […]

Riyadh, 09 March, 2017 Mobile Telecommunication Company Saudi Arabia (Zain Saudi Arabia) announced its financial results for the full financial year ending December 31, 2016. Key Performance Indicators for the 12 months ending 31 Dec 2016: Compared to Full-Year 2015, Zain Saudi Arabia reported: Advertisement Revenues increased by 3% to SAR 6,927 million, Gross profit grew by 11% to SAR 4,401 million. EBITDA also grew by 10% […]

Friday 06:00 GMT Overview Asian markets were broadly positive on Friday as South Korea’s president was formally impeached, while Treasuries remained under pressure ahead of the US jobs report that could fuel expectations the Federal Reserve will raise interest rates next week. European bourses are expected to open higher, with spreadbetters predicting the UK’s FTSE 100 will add 20 points to 7,335 and Germany’s Dax to climb […]

Montclair is a New Jersey bastion of the Trump-doubting privileged class that went back to the future Thursday with an imperiled species: a new broadsheet newspaper. But, if Trump could wind up president, who says a broadsheet Lazarus can’t rise from the media ashes and make it somewhere? The weekly Montclair Local debuted in the 36,000-person bedroom community of New York City rife with ink-stained and digitally […]

Via Jim Quinn of The Burning Platform blog, In Part One and Part Two of this article I revealed how the Deep State’s fake data and fake news propaganda machine can be overcome by opening your eyes, observing reality, understanding how Fed created inflation has destroyed our lives, and why the election of Trump was the initial deplorable pushback to Deep State evil. “The notion that a […]

DUBAI // Drone users caught flying without a licence will face fines of up to Dh20,000 as part of renewed efforts to tackle disruption to aviation. The new penalty is part of broader regulations governing the aviation sector approved by Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and Chairman of the Dubai Executive Council. The move came after the closure of airspace over Dubai International Airport […]

New York and London are locked in a frantic race to be the main international listing venue for Saudi Arabia’s initial public offering of its state oil company, emerging as clear frontrunners in what is set to be the world’s biggest ever flotation. Executives from the New York Stock Exchange and London Stock Exchange have held talks with Saudi Aramco, the state group valued at as much […]

Viva Republica CEO SG Lee Image: Viva Republica Viva Republica, maker of peer-to-peer money transfer app Toss, announced that it has raised $48 million in a Series C round led by San Mateo-based VC firm Goodwater Capital, with PayPal, Bessemer Venture Partners, Altos Ventures, and Partech Ventures also contributing to the round. The latest funding round brings the total amount raised by the Seoul-based company to 87.5 […]

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