Ministers are drawing up plans for a two-tier system of UK border controls for EU citizens as Theresa May prepares to tighten migration rules at the expense of single market membership. Senior government officials expect the prime minister to decide on a system based on work permits and new automated security checks — similar to the US visa-waiver programme — for EU citizens travelling to Britain. The […]
Canceling nearly 90% of cash in circulation cost India the mantle of world’s fastest-growing large economy in 2016, the International Monetary Fund said, though it categorized the slowdown as temporary. India’s growth slowed to 6.6% last year from 7.6% in 2015, according to the fund’s latest World Economic Outlook, which estimates that China’s economy grew by 6.7% in 2016. The fund expects India’s expansion to bounce back […]
Turkey’s biggest headache, its crashing currency which the central banks appears unable to contain due to an Erdogan order not to hike rates, could soon translate into another major problem. According to two senior economy officials, Turkish inflation could reach double digits in the first quarter for the first time in almost five years as a result of the lira’s falls, putting more pressure on the central […]
By Alessandra Prentice | KIEV KIEV Outgoing U.S. Vice President Joe Biden called on Monday for sanctions on Russia to stay, urging the world to stand up to its “coercion and aggression” after President-elect Donald Trump mooted ending the measures under a possible deal with Moscow. Speaking on a swan song visit to Kiev, Biden said the G7 nations and European Union should lift the sanctions only […]
An electricity crisis that has caused protests and unrest in the Gaza Strip eased on Monday after Qatar donated $12 million to buy fuel for the Palestinian enclave’s lone power plant, officials said. For weeks, Gaza’s population of 2 million has been making do with barely a few hours a day of electricity – less than half its usual supply. The Energy Authority run by the enclave’s […]
By Noah Barkin | DAVOS, Switzerland DAVOS, Switzerland A trade war between the United States and China and a strengthening dollar are among the biggest threats to a brightening global economic outlook, according to leading economists at the World Economic Forum in Davos. As political leaders, businessmen and bankers converge on the resort in the Swiss Alps this week, they can draw hope from a more benign […]
Submitted by Mike Shedlock via MishTalk.com, Conventional wisdom suggests National Front candidate Marine le Pen will make it to the second round in French elections, then lose in a landslide to whoever her opponent happens to be. I believe le Pen’s odds of winning it outright are far better than most think. Current Polls Chart from Wikipedia, with image clips added. Top Five candidates Marine le Pen: […]
Source: United Nations University Hong Kong and Singapore in 2015 produced the highest volume of e-waste in the region, generating 21.7kg and 19.95kg, respectively, per capita. At 19.13kg per capita, Taiwan rounded up the top three e-waste producers, while China more than doubled its production between 2010 and 2015–at 107 percent–to 6.7 million tonnes. Across East and Southeast Asia, the average e-waste generation per capita was 10kg […]
16 January 2017 Oman Insurance Company (OIC), one of the UAE’s leading insurers, has become the first insurer in the Middle East to establish a corporate alliance with the Association of Certified Fraud Examiners (ACFE). The ACFE is recognized as the world’s largest and premier anti-fraud organization and has partnerships with numerous Fortune Global 500 organizations. Its role is to support the implementation of anti-fraud best practices […]
China on Monday approved the resignations of two of Hong Kong’s top officials, including its financial secretary, paving the way for them to contest a March election to become the next chief executive of the financial hub. China’s State Council has accepted the resignations of financial secretary John Tsang, and of Carrie Lam, the city’s chief secretary, the official Xinhua news agency said. The former British colony […]
SYDNEY Plans to provide government support to keep open a 30-year-old aluminum smelter in Australia owned by Alcoa (AA.N) have made “progress”, parties involved in talks said on Monday without giving details. The government is offering financial support to help supply the Portland smelter in southern Australia with sufficient power in the wake of a blackout late last year that left it running at only one-third of […]
By Kenneth Rijock MIAMI, USA — Tax authorities in Malta have announced that the government of Panama has declined to assist them in their investigations into tax evasion initiated following information released by journalists in the Panama Papers documents leak scandal. Tax investigators from Malta have asked to see emails of the law firm of Mossack and Fonseca, which allegedly assisted Maltese nationals evade income taxes, and […]
By Estelle Shirbon and William James | LONDON LONDON Prime Minister Theresa May will use a major speech on Brexit next week to call on Britons to reject the acrimony of last year’s referendum and unite around the vision of a Britain more open to the world, her office said on Sunday. May intends to kick off the formal process of negotiating the terms of Britain’s exit […]
DAVOS, Switzerland – The global economy is in better shape than it’s been in years. Stock markets are booming, oil prices are on the rise again and the risks of a rapid economic slowdown in China, a major source of concern a year ago, have eased. And yet, as political leaders, CEOs and top bankers make their annual trek up the Swiss Alps to the World Economic […]
BRUSSELS The European Union and the United States agreed on Friday to reduce legal and capital barriers to boost the $3 billion transatlantic insurance and reinsurance market. The accord has been under negotiation for more than a year and follows an agreement last year on derivatives. U.S. and EU representatives said in a joint statement they had reached a deal “that will ensure ongoing robust insurance consumer […]
Yazan Mohamad Al Nasser appointed CFO bringing more than 30 years of financial experience Experience in property and retail will benefit DIFC with expansion of the district underway 14 January 2017 Dubai, UAE – Yazan Mohamad Al Nasser has been appointed as the new Chief Financial Officer for the Dubai International Financial Centre Authority, the body overseeing the leading financial centre in the Middle East, Africa and […]
ABU DHABI // UAE driving schools are switching in increasing numbers to e-learning to help drivers be safe and responsible on the road. Waleed Mamoun Afanah is among those who have benefited from the online learning. Instead of sitting through long classroom lectures on driver attitude and responsibilities and figuring out what each traffic sign, road marking and traffic control device at intersections signifies, the 27-year-old Jordanian […]
SpaceX put its first rocket back into space on Saturday since a spectacular launch pad explosion halted operations more than four months ago at the private US space company founded by billionaire Elon Musk. The Falcon 9 rocket lifted off from Vandenberg Air Force base on the southern California coast, taking 10 one-ton satellites into space for communications company Iridium. Investigators were left scratching their heads for […]
Dubai’s biggest bank, Emirates NBD, has expanded its disability-friendly branch network to include the Hamriya, Rashidya and Al Aweer branches, in addition to the Jumeirah and Jumeirah Emirates Towers branches. The bank said in a statement that it has also implemented the distribution of Braille currency in its Jumeirah branch for customers with vision disabilities. It added that it “will remain committed” to enabling financial inclusion for […]
KHARTOUM The Obama administration’s preliminary decision to ease sanctions on Sudan came with the full approval of the incoming Trump administration and after months of secret meetings, Sudan’s foreign minister said on Saturday. The United States said on Friday it would lift a 20-year-old trade embargo against Sudan, unfreeze assets and remove financial sanctions as a response to Khartoum’s cooperation in fighting Islamic State and other groups. […]
Minister Without Portfolio Konrad Mizzi. Photo: Chris Sant Fournier During the year just ended the Labour government continued to dig itself deeper into a culture of institutionalised corruption with persons occupying high government positions and those close to them partaking of the fruits of a corrupt system. A perfect example was the scandal revealed last year by leaked secret files where then health and energy minister Konrad Mizzi […]
I remember an epiphany of sorts I had one morning in Miami in 1991. I was in town as the national college football writer for the Chicago Tribune. A few years earlier, I was asked to participate in the Associated Press’ college football poll. Back then, there wasn’t a committee selecting four teams for a playoff. The national champion was determined by the AP media poll and […]
By Paul Lienert and David Shepardson | DETROIT/WASHINGTON DETROIT/WASHINGTON Japan’s Takata Corp (7312.T) on Friday agreed to plead guilty to criminal wrongdoing and to pay $1 billion to resolve a U.S. Justice Department investigation into ruptures of its air bag inflators linked to at least 16 deaths worldwide. The deal was announced hours after prosecutors in Detroit charged three former senior Takata executives with falsifying test results […]
By Sinead Carew and Lewis Krauskopf | NEW YORK NEW YORK U.S. bank stocks will stay in favor with investors as long as earnings reports in the coming week show an improving profit outlook while investors wait to see if U.S. President-elect Donald Trump lives up to his campaign promises. Wells Fargo & Co. (WFC.N), JPMorgan Chase & Co (JPM.N) and Bank of America (BAC.N) kicked off […]
