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April 3, 2016 Panama Papers leaked; Sharif family under spotlight The International Consortium of Investigative Journalists made nearly 11.5 million secret documents public. The documents contained confidential attorney-client information for more than 214,488 offshore entities, with the source of these leaks being a Panamanian financial law firm, Mossack Fonseca. Eight offshore companies were reported to have links with the family of Prime Minister Nawaz Sharif and his […]

Total Islamic banking assets in the UAE have increased to about AED520 billion ($141.5 billion), about 7 percent of the global total, it has been revealed. Saif Hadef Al Shamsi, assistant governor for Monetary Policy and Financial Stability at the UAE Central Bank, said that Islamic banking’ assets account for around 20 percent of AED2.6 trillion of the total assets of the state’s banks. He added in […]

BEIJING, Activity in China’s services sector expanded at the slowest pace in four months in February, with new business still growing at a solid rate but increasing competition making it harder for companies to raise prices, a private survey showed. The findings echoed a similar softening in growth in China’s official services activity survey released on Wednesday, and contrasted with an unexpected pick-up in growth in its […]

Precision agriculture techniques could have substantial financial benefits for producers of hand-picked specialty crops, according to a new paper. A researcher has developed a mathematical model that determined the optimal time for transporting a grower’s strawberries from the field to cold storage. (via WSJ)

China’s 200 richest lawmakers are worth more than $500bn, according to the Hurun Report, which tracks the fortunes of the country’s wealthiest people. The Communist party officially welcomed private-sector business people into its fold in 2002, when the Chinese economy was the world’s sixth-largest. Their wealth has since soared in tandem with the Chinese economy, which is now second only to that of the US.  According to […]

Saudi Arabia’s main sovereign wealth fund Public Investment Fund (PIF) is looking at taking minority stakes in German technology and financial companies, although any deal is unlikely before 2018, the kingdom’s ambassador to Germany said. Such a move would mirror other Gulf state funds from Dubai, Qatar and Kuwait, which have taken minority stakes in German companies including Daimler, Deutsche Bank and Volkswagen, although Ambassador Awwad Al-Awwad […]

BEIJING China’s leaders are expected to telegraph their willingness at this year’s annual parliament meeting to let reforms overtake policy stimulus as their priority amid concerns over financial instability in the world’s second-largest economy. Pro-growth policies, evident by a lending binge and increased government spending last year, have fueled worries among policymakers about high debt levels and an overheating housing market. Top leaders at the National People’s […]

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Software-defined storage (SDS) startup Hedvig has closed $21.5 million in a Series C round of funding, bringing the total amount raised by the Santa Clara, California-based startup to $52 million. Investors in the round include Singapore-based EDBI and Hewlett Packard Enterprise’s (HPE) VC arm Hewlett Packard Pathfinder, Atlantic Bridge Ventures, Oman Technology Fund, True Ventures, and Vertex Ventures. Launched in 2015, Hedvig provides SDS for enterprises building […]

The law firm at the centre of the Panama Papers scandal has quit New Zealand. The offices of law firm Mossack Fonseca in Panama City (file). Photo: AFP Mossack Fonseca hit the headlines last year when a massive leak revealed its role in helping its clients hide their wealth around the world, including in New Zealand New Zealand became a popular destination for Mossack Fonseca to set […]

Uber’s US rival Lyft is seeking $500m in a new fundraising round to provide fresh ammunition as the transportation company takes its fight with Uber to a growing number of US cities, according to two people close to the process. The fundraising comes at a time when Uber has been struggling with a series of public relations crises, including allegations of sexual harassment and a video of […]

When it came to once slice of the media Thursday, Jeff Sessions was generally trumped by Evan Spiegel. Contacts with Russians? Lying to a Senate committee deliberating his nomination? Need for a special prosecutor? Step aside as Attorney General? Well, that was grist for the mills of Washington-focused media and the cable news channels Thursday — and with good reason. But on CNBC and Fox Business, as […]

Interested in precious metals investing or storage? Contact us HERE          Written by Peter Diekmeyer (CLICK HERE FOR ORIGINAL)     Gold prices have surged (+8.57% EOD Wednesday) since January. However, one expert says that trend could continue. “Shrinking exploration budgets, a dearth of new high-quality deposits and the “fear trade” will provide continuing upside pressure as the year unfolds,” says Brent Cook, editor […]

Oman’s government has given itself breathing space from the pressure of financing a large budget deficit by selling $5 billion of international bonds, almost completing its entire foreign borrowing plan for 2017 in a single issue. Wednesday’s bond sale, in tranches of five, 10 and 30 years, was about double the size that most investors had expected and a huge amount for a country which returned to […]

Via Charles Hugh-Smith of OfTwoMinds blog, This is precisely what you’d expect of a self-serving elite that was desperate to cloak the unhappy reality that the relative few are benefiting immensely at the expense of the many. The core narrative of politics everywhere is progress, i.e. “moving forward.” If progress isn’t being made, politicos and the system are failing. In the past, “progressive” movements sought to advance […]

Fact-finding mission or junket? Some lawmakers are bewildered that the groups that paid for their trips are now swept up in Turkey’s current political turmoil. “I can’t imagine what they would have wanted out of the North Dakota state Legislature,” said former North Dakota state Rep. Ben Hanson, a Democrat who went on a trip sponsored by a Gulen group in 2013 with six other lawmakers from […]

Beginning today, rank-and-file journalists at NPR are responsible for making sure appropriate financial disclosures are made in their stories — and they have the information to make that happen. Until now, the responsibility to disclose who funds NPR’s journalism was left to senior supervising producers. But in response to conflict-of-interest questions raised by NPR’s coverage of the Iran deal (a review found no journalistic impropriety), the public radio […]

Jeff Sessions, the US attorney-general, failed to disclose during his confirmation hearings that he twice met the Russian ambassador while acting as a close adviser to Donald Trump during last year’s presidential campaign. Mr Sessions met Sergey Kislyak on September 8 in the then senator’s private office in the US Capitol building, after having spoken with him briefly two months earlier at an event sponsored by the […]

Image: Nv/EPA/REX/Shutterstock By Manish Singh2017-03-02 07:24:14 -0500 India’s major IT firms have long required their employees to give a three-month, “non-negotiable” notice before leaving the company, but they could be soon forced to change that.  Fed-up IT professionals from across India have reached out to the government, complaining that it is “unrealistic” for anyone to plan that far ahead.   Over 28,000 professionals have signed a petition, […]

Snap Inc, the parent company of photo-sharing app Snapchat, announced on Wednesday evening that 200 million shares would be sold for $17 a piece when it starts trading on the New York Stock Exchange (NYSE) on Thursday under the ticker symbol SNAP. The social media giant will sell 145 million of those shares — allowing it to raise more than $2.4 billion — while executives and early […]

Former senator Jose “Jinggoy” Estrada’s deputy chief of staff who is at large for plunder over the pork barrel scam was dismissed and perpetually barred from public office by the Ombudsman. In a statement on Thursday, Ombudsman Conchita Carpio Morales said she has ordered the dismissal from service of Pauline Labayen and 13 others who were found guilty of grave misconduct, conduct prejudicial to the best interest of […]

Bin Shafar: “Empower’s annual agenda has many initiatives that target the whole society” Dubai, UAE, 2 March 2017: Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, has been awarded the Dubai Chamber CSR Label for the third consecutive year, in recognition of the company’s social initiatives which seek to raise social and environmental awareness among its employees, clients and the whole society. […]

Education, rather than exposure to immigrants, is emerging as the clearest nationwide indicator of the likelihood of Dutch voters supporting Geert Wilders’ anti-immigration Party for Freedom, according to an extensive Financial Times survey of demographic and voting data from the most recent general election. Mr Wilders’ Party for Freedom (PVV) looks on course to win the most seats in the upcoming election on March 15, but is […]

/By Arabian Post Staff/ The success of DIFC and DMCC  has inspired a US-based group to recreate the model in the western hemisphere. The C-MCC Development Group LLC,  a US-based development group, announced that it will establish the C-MCC Worldwide Free Trade Zone on Curacao island,  patterned after the successful Dubai Multi Commodities Centre (DMCC) and the Dubai International Financial Centre (DIFC) located in the United Arab […]

TOKYO Asian shares rose on Thursday as investors were encouraged by President Donald Trump’s measured tone in his first speech to Congress, which sent Wall Street stocks sharply higher, while growing bets on a U.S. rate hike this month buoyed the dollar. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.2 percent, led by rebound in Australian shares . Japan’s Nikkei .N225 rose 1.3 percent […]

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