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As part of the previously previewed “Two Sessions” which started on Sunday, Chinese Premier Li Keqiang on Sunday delivered the annual report on the work of the government in Beijing, summarizing the country’s achievements in the past year, and setting goals for this year. In his policy speech, lasting 97 minutes and 18,600 Chinese characters, Li signaled a course adjustment for the world’s second-largest economy and some […]

Credit: Mærsk Line IBM and Maersk will partner to use blockchain technology to conduct, manage and track transactions in the shipping supply chain. The companies said they collaborated on creating blockchain tools for cross-border transactions among shippers, freight forwarders, ocean carriers, ports and customs authorities. According to Maersk and IBM, the blockchain effort, built on the Linux Foundation’s open source Hyperledger platform, will aim to replace paper-heavy […]

When Paul Ryan, speaker of the U.S. House of Representatives, talks of social mobility, about helping struggling Americans move out of impoverished areas to give them greater opportunity, Shiva Daniels is the kind of person he has in mind. A federal housing voucher allowed Daniels to escape her crime-plagued neighborhood in Dallas, Texas, and move her four children to the suburb of Garland. That move helped Daniels […]

China’s banking system has surpassed the eurozone’s to become the world’s largest by assets, a sign both of the country’s increased influence in world finance and its reliance on debt to drive growth since the global financial crisis. While China’s gross domestic product surpassed the EU’s economic bloc in 2011 at market exchange rates, its banking system did not take over the top spot until the end […]

By Jussi Rosendahl | HELSINKI HELSINKI Finnish foreign minister Timo Soini said on Sunday he would step down as leader of the nationalist and eurosceptic Finns party in June, a move which could challenge the future of the country’s three-party government. The departure of Soini paves the way for a more hard-line leadership, surveys have suggested, as many of its core voters bridled at compromises he made […]

China has lowered its annual economic growth target to “around” 6.5 per cent, as Beijing plans to focus on risk control in the final year of President Xi Jinping’s first term.  The figure, down from the government’s target growth range of 6.5 to 7 per cent for 2016, was revealed on Sunday morning by Premier Li Keqiang in his annual “work report” to China’s parliament, the National […]

HP Inc’s new Customer Welcome Centre in London. Image: HP Inc/Jonny Back Photography George Brasher is a 26-year HP veteran who has worked in a variety of roles in the company’s printer and PC divisions over the years and is now HP Inc’s managing director for the UK and Ireland. ZDNet caught up with him at the company’s brand-new million-pound Customer Welcome Centre (CWC) in London, to […]

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By Kevin Yao and Xiaochong Zhang | BEIJING BEIJING China has cut its growth target this year as the world’s second-largest economy pushes through painful reforms to address a build-up in debt and strives to keep a lid on risks in its financial sector. China aims to expand its economy by around 6.5 percent in 2017, Premier Li Keqiang said at the opening of the annual meeting […]

Standard Life is in late-stage discussions to acquire Aberdeen Asset Management in an all-stock deal that would create the UK’s largest money manager with £660bn of assets and be worth around £11bn.  The companies confirmed the talks on Saturday evening in a joint statement that said a deal would “leverage Standard Life and Aberdeen’s combined strengths to create a world class investment company”. They added that Standard Life […]

04 March 2017 Bahrain – Investcorp, a global provider and manager of alternative investment products, today announced the completion of its acquisition and integration of the debt management business of 3i (“3iDM”) from 3i Group plc. The business, now recognized as Investcorp Credit Management (“ICM”), adds $11 billion of assets under management, bringing the total to approximately $21.4 billion. Investcorp Credit Management is a leading global credit […]

Mustafa Sanalla, the chairman of Libya’s National Oil Corporation, has called for “concrete steps” to protect the country’s oil assets as fresh fighting that has erupted near crucial oil facilities threatened to reverse recent increases in the Opec member’s output. Forces from eastern Libya carried out on Saturday air strikes around the oil ports of Es Sider and Ras Lanuf on the country’s Mediterranean coast in order […]

Digital and in-app transactions can reach unbanked audiences with convenient, fast and low-overhead services 04 March 2017 Dubai – The Foreign Exchange and Remittance Group (FERG), comprising businesses engaged in the money exchange and remittance industry, believes the rise of fintech in the GCC can help the remittance sector serve wider audiences faster through digital-first channels. The announcement comes as the Fintech industry booms globally and is […]

Donald Trump accused Barack Obama of tapping his phones before the November presidential election and compared the situation to the Watergate scandal that forced Richard Nixon to resign.  “How low has President Obama gone to tapp my phones during the very sacred election process. This is Nixon/Watergate. Bad (or sick) guy!” Mr Trump tweeted. In an early morning tweet storm, Mr Trump claimed without providing evidence that Mr Obama […]

Emerging markets had a third month of strong inflows into their equities and bonds in February, in a further sign of reviving optimism over an asset class that was expected to be caught in the crosshairs of any US move to protectionism. There were cross-border flows to EM assets of more than $17bn in the month, up from just over $14bn in January, data from the Institute […]

Good morning. Here’s our morning roundup of all the media news you need to know. Want to get this briefing in your inbox every morning? Subscribe here. So what have you heard more often: “Fox & Friends” shilling for President Trump or sophisticated people confiding their real reason for reading The New Yorker is the cartoons? Ah, if only Bob Mankoff had long ago negotiated some piece […]

There were no surprises in Yellen’s speech in Chicago on Friday in which the Fed chair confirmed the sudden and dramatic hawkish turn hinted at earlier in the week by Dudley and Williams, and which sent March rate hike odds from the low 30s to nearly 100% in the span of days. According to Yellen, the FOMC would “evaluate whether employment and inflation are continuing to evolve […]

Plot twists, accusations and 25,000 pages of evidence — a snapshot of the case that will determine Nawaz Sharif’s fate. Panama Papers leaked; Sharif family under spotlight — Feica/Dawn. The International Consortium of Investigative Journalists (ICIJ) makes 11.5 million secret documents available to the public for the very first time. The documents, coming from Panamanian law firm Mossack Fonseca, contain confidential attorney-client information for more than 214,488 […]

04 March 2017 MARC has affirmed its ratings of A and BBB on special purpose vehicle RCE Advance Sdn Bhd’s (RCEA) outstanding RM5 million Class B and RM10 million Class C notes under the RM420 million Fixed Rate Medium-Term Notes (MTN) Programme respectively. The outlook on the ratings is stable. There is currently no outstanding Class A notes under the programme upon the repayment of RM5 million on November 15, 2016. The rating […]

Bahrain’s fiscal deficit will fall only marginally to 12.3 percent of GDP this year from 13.6 percent in 2016 as oil prices settle well below the country’s breakeven figure, according to ratings agency Fitch. The agency said it expects Brent to average $45 per barrel in 2017, nearly $40 below the breakeven price for the Gulf kingdom. Fitch Ratings affirmed Bahrain’s long-term foreign and local currency issuer […]

With its high growth rates and huge potential, battery demand is a key focus for metals markets. If 2016 was all about lithium, then 2017 should see cobalt start to attract greater attention. Prices have already accelerated to levels last seen in 2011, as rising demand from the core portable electronics meets relatively stagnant supply growth. And while risks remain — technological on the demand side and […]

KARACHI: The Panama Papers — a huge leak of documents detailing the alleged secret offshore holdings of global elite — were released in April 2016. The leak made headlines all-over the world, but its impact was probably most keenly felt in Iceland. Just two days after the leak appeared, Iceland’s prime minister had to resign from his office over protests by the people. Thousands of people had […]

Deutsche Bank said on Friday night that it was laying the groundwork for a “potential capital raise of approximately €8bn” as well as considering several other strategic adjustments as it aims to revive its fortunes after a torrid 12 months. Alongside the capital increase, Germany’s biggest lender said it could garner further funds by selling a minority stake in its asset management arm. It is also considering […]

Ismail, a 20-year-old Emirati, has rarely ever stepped into a bank branch. “You won’t believe I haven’t visited my branch for over a year. All my transactions are done online,” he says, as he clicks an app on his phone to make a payment. “I just paid my bill and that’s how it works for me. All the services are at my fingertips and I save immense […]

By EconMatters   We discuss the run in the Financials, and other blue chip stocks that are overvalued relative to the fundamentals in this video. We also discuss the Market Correction that we see coming over the next 6-8 months in markets. This is as good as the QE game gets, cheap money going away from markets! © EconMatters All Rights Reserved | Facebook | Twitter | […]

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