Greece is planning to appoint Rothschild to advise on its debts as the country attempts to end a long-running creditor stand-off and avert default. Government officials hope to finalise the appointment before a gathering of eurozone finance ministers on February 20 that has been described as the last chance for Greece’s lenders to overcome their differences before European attention shifts to general elections in eurozone countries. Unless […]
Fed Chair Yellen will be appearing before Congress deliver her semi-annual monetary policy testimony (sometimes called the “Humphrey-Hawkins” testimony) today. Her prepared remarks are expected to sound similar to her most recent speech, noting that the labor market has tightened and wage pressures are increasing modestly. As BofA details, she will likely note that the Fed is making progress toward its mandate of full employment and price […]
The Business Roundtable indeed “appears to have significantly softened its stance on disclosure of political activity,” said John Wonderlich, executive director of the nonprofit Sunlight Foundation, which advocates for political transparency. The apparent shift, he said, “reflects a growing judgement that secret political spending violates our political norms and can create liabilities for businesses and their brands.” But David Keating, president of the nonprofit Center for Competitive […]
By Pamela Barbaglia and Edward Taylor | LONDON/FRANKFURT LONDON/FRANKFURT PSA Group (PEUP.PA) is holding talks with General Motors (GM.N) about buying its European Opel division, the French carmaker said on Tuesday, a deal which would increase competition for market leader Volkswagen (VOWG_p.DE). The maker of Peugeot, Citroen and DS cars is “exploring a number of strategic initiatives with GM with the aim of increasing its profitability and […]
A striking feature of global financial markets since the crises of 2007 and 2008 has been the high propensity of many wealthy private investors to sit out all the turmoil, holding cash in bank accounts rather than in riskier assets. Might that be about to change? The word among bankers in conservative Switzerland — the world’s largest centre for cross-border private wealth management — is that it […]
The Board of Directors of the Financial Intelligence Analysis Unit has appointed a new Director following a public call for applications, as stated in a press release issued by the government, named Kenneth Farrugia. Mr Farrugia’s term comes starts from 13 February 2017. The appointment follows a public call for applications as well as an interviewing process which involved several applicants, a short listing process […]
New markets and innovative solutions position Arkan well through current market cycle Abu Dhabi, UAE; 14 February 2017 Arkan Building Materials Co. PJSC (ADX: ARKAN) (“Arkan” or “the Group”), a leading construction and building materials company in the UAE, today announced its preliminary financial results for the year ended 31 December 2016. 2016 saw considerable operational progress, with sales volumes increasing across new markets in the UAE, […]
After a five-hour delay, Toshiba has finally unveiled a $6.3bn nuclear writedown. The company announced that Shigenori Shiga, the chairman of Toshiba, will step down after the struggling Japanese industrial group warned that it would book a ¥712.5bn ($6.3bn) writedown to reflect massive cost overruns and delays linked to several nuclear projects in the US. For the full year through March 2017, the company said it anticipates […]
US markets regulators have delayed enforcement of new derivatives rules due to come into effect in two weeks’ time because few of the hundreds of pension funds, insurers and asset managers affected would be ready in time. There were fears that the widespread lack of readiness to comply could have caused market disruption if they were enforced as planned on March 1. The rules require some derivatives […]
The Monetary Authority of Singapore (MAS) has unveiled plans to establish a data analytics group that it says will guide the organisation as well as the local financial sector towards the digital economy. Operational from March 15, the new unit would drive the central bank’s efforts to tap data analytics for deeper insights and enhance work efficiencies within the organisation. It also would facilitate the supervision of […]
Submitted by Milton Ezrati via The Strategic Culture Foundation, Just about every adult on earth has seen this show before. Greece faces a debt repayment that it cannot meet: for this performance, €86 billion due in July. It needs fresh bailout funds from the European Union and/or the International Monetary Fund because borrowing directly on global capital markets comes at too high a cost—10 percent to replace […]
Shuaa Capital is working on a bolt-on acquisition of a financial services company based in the United Arab Emirates as part of the investment bank’s growth plans, chairman Jassim Alseddiqi told Reuters on Monday. The price for the targeted company, which specialises in capital markets and securities, would be less than 200 million dirhams ($54.46 million), Alseddiqi said. He also said discussions were at an advanced stage […]
Donald Trump’s embrace of protectionism and opposition to multilateral trade deals has prompted EU leaders to ask how Europe might deepen ties with Asia as a way of bolstering global commerce and safeguarding export markets. Some officials have talked about Europe performing its own trade pivot to Asia as well as other emerging markets. But closer engagement, especially with China, at a time of global economic upheaval […]
HONG KONG A Hong Kong court found seven police officers guilty on Tuesday of beating a handcuffed pro-democracy activist during demonstrations in 2014, a rare incident of police brutality in the financial hub that triggered public outrage. The 79 days of student-led protests paralysed parts of Hong Kong and posed one of the greatest challenges to the central government in Beijing in decades. But Beijing gave no […]
By Nate Raymond | NEW YORK NEW YORK The trial of two men was delayed on Monday in a case stemming from a probe into a bitcoin exchange and a data breach at JPMorgan Chase & Co after prosecutors revealed a new witness. Jury selection was set to begin in Manhattan federal court in the case of Yuri Lebedev, whom authorities call the architect of bitcoin exchange […]
Optimism that the Trump administration is close to proposing a series of business-friendly tax reforms sent the main barometer for US small-cap stocks to a fresh high on Monday for the first time in more than two months. The Russell 2000 index, which tracks companies with market values of roughly $300m to $2bn, climbed as much as 0.7 per cent on Monday to 1,398.6, knocking out its […]
Love may be in the air on Saint Valentine’s Day but authorities in Australia, Malaysia and Singapore warned on Monday of a growth in online scams cheating lonely people out of their savings. Romance scammers are getting increasingly manipulative … If you meet someone who seems too good to be true, do some research to see if they’re the real deal Delia Rickard of the Australian Competition […]
13 February 2017 Full year revenues stood at AED 173.8 million (2015: AED 178.2 million) Group losses reduced by 30% year on year as firm continues with stringent cost control and gears up for 2017 long term strategy implementation Real Estate Investment Management and Investment Banking business lines recorded systematic increase in profits Turnaround of the Group’s operations expected during 2017 Advertisement SHUAA Capital today reports results […]
The merger of the National Bank of Abu Dhabi and First Gulf Bank will be official from April 1, with shares in the new company trading from the next day, it was announced on Monday. The Abu Dhabi Securities Exchange said that it had completed the procedures for the unification of the records of the stakeholders in both banks, state news agency WAM reported. The indicative market […]
February 13, 2017 by: Anjli Raval, Oil and Gas Correspondent Steep Opec production cuts could ease an oil market surplus quicker than expected in 2017, the oil cartel signalled in its first output assessment since a deal to curb supplies and bolster prices came into effect. After more than two years of allowing market forces to balance supply and demand, Opec in November agreed to again influence […]
February 13, 2017 by: Anjli Raval, Oil and Gas Correspondent Steep Opec production cuts could ease an oil market surplus quicker than expected in 2017, the oil cartel signalled in its first output assessment since a deal to curb supplies and bolster prices came into effect. After more than two years of allowing market forces to balance supply and demand, Opec in November agreed to again influence […]
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. Major Garrett of CBS News is rising to the defense of the extravaganza that is the White House Correspondents’ Association Dinner — and he is nearly convincing. Garrett is a very good, no B.S. reporter who adeptly made the print-to-TV […]
For a long time TruePublica has consistently reported that Britain is the centre of the global money laundering business with its London Headquarters and network of off-shore tax havens. We have challenged reports and studies that have protected ‘The City’ and its army of suited mobsters that openly defy both domestic and international financial legislation whilst it administers the global looting machine. (Read our piece: Enemies of the State: […]
Muscat, February 14, 2017 Bank Sohar, continuing to invest in the capabilities and growth of its Executive Management members, has announced the appointment of Mr. Pieter De Witt, as the Bank’s new Chief Financial Officer and Mr. Khalid Khalfan Rashid Al Subhi, as the new AGM and Head of Compliance. Both; Mr. Pieter De Witt and Mr. Khalid Al Subhi are highly qualified individuals in their respective […]
