Turkey’s lira cemented its reputation as the most fragile of emerging market currencies on Wednesday, falling 4 per cent against the dollar to a fresh record low after the country’s current account deficit took a turn for the worse. Turkey’s currency has plunged 11.5 per cent so far this year and depreciated nearly 30 per cent in the last three months. The lira’s travails eclipse the South […]
Facebook on Wednesday announced a new program of training, products and tools aimed at further solidifying the social network’s relationship with publishers, which view the Silicon Valley giant as both a firehose of referral traffic and an at-times fearsome adversary. The program’s debut comes days after Facebook hired former TV journalist Campbell Brown to be its head of news partnerships. The initiative (which includes a partnership with […]
By EconMatters We discuss the Carry Trade, ultimate demise of the European Union, answer viewer questions, touch on the oil market, and dog financial media for the rating`s whores that they truly are in this video. There is some buy the rumor, sell the news effect in the oil market today, but we are still pretty bearish on the fundamentals of the industry, and the current supply […]
Donald Trump angrily denied claims that Russia sought to cultivate and compromise him, after unverified allegations about his personal conduct and ties to Moscow spilled out into the open, just 10 days before his inauguration. US media reported that intelligence agency officials shared a written synopsis of a dossier containing lurid but unsubstantiated personal claims about Mr Trump, allegedly compiled by Moscow, when they met the president-elect […]
The energy service provider has successfully completed retrofit projects for 2,178 buildings 11 January 2017 Dubai, United Arab Emirates Etihad ESCO’s retrofit projects have successfully saved 54GHW of energy in 2016, through five major projects, implemented for DEWA, JAFZA, Dubai International Financial Centre (DIFC) and Mohammed Bin Rashid Housing Establishment (MRHE), which equates to AED 34 Million in monetary terms. The energy service provider said that it […]
BEIJING China is set to consolidate five state media companies to create a “modern financial media group” to increase the state’s voice in economic and financial news coverage, the state-run Xinhua news agency said on Wednesday. Since taking power in 2012, President Xi Jinping, who has called for Beijing to take a bigger role in a global governance system, has stepped up media control and scrutiny to […]
The saga of Housing.com, once a red-hot tech startup in India, has reached a conclusion of sorts after the company was sold to rival PropTiger in a deal announced this week. Housing.com was once heralded as a trailblazer for its efforts to digitize the sale and rental of property in India. But a fall from grace, which included the ejection of its outspoken CEO and the removal of […]
Bjarni Benediktsson, leader of the conservative Independence Party, is Iceland’s new prime minister. (Halldor Kolbeins/Agence France-Presse) The Panama Papers — a huge leak of documents detailing the alleged secret offshore holdings of a 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, Icelandic Prime Minister Sigmundur David Gunnlaugsson […]
Submitted by Mike Krieger via Liberty Blitzkrieg blog, The true patriotism, the only rational patriotism is loyalty to the nation all the time, loyalty to the government when it deserves it. – Mark Twain, The Czar’s Soliloquy” At this point, pretty much everyone in America has seen the results of Hillary Clinton media pet, John Harwood’s recent Twitter poll. Who do you believe America? — John Harwood (@JohnJHarwood) January 6, […]
By Jonathan Landay and John Walcott | WASHINGTON WASHINGTON Classified documents that the heads of four U.S. intelligence agencies presented last week to President-elect Donald Trump included claims that Russian intelligence operatives have compromising information about him, two U.S. officials said Tuesday evening. They told Reuters the claims, which one called “still unsubstantiated,” were contained in a two-page memo appended to a report on Russian interference in […]
BuzzFeed on Tuesday published a 35-page dossier that summarized damaging allegations about President-elect Donald Trump’s personal and financial dealings. By publishing the entire dossier, which has not been disclosed publicly by U.S. intelligence agencies, BuzzFeed has taken an unusual step. It’s uncommon for public-spirited news organizations to publish explosive, unverified information about public officials without first confirming the details independently. Complicating the situation is the origin of […]
Jan. 10, 2017 DUBAI, United Arab Emirates– (BUSINESS WIRE/ME NewsWire) GMO GlobalSign K.K., a leading provider of trusted identity and security solutions and one of the longest established Certificate Authorities in the world, today announced the inauguration of its new office in Dubai. The local entity, GMO GlobalSign FZ-LLC, based in Dubai Internet City, is strategically located to cater to further strengthen GlobalSign’s presence in Asia, particularly […]
The New York Stock Exchange plans to end floor trading on its NYSE MKT venue for small capitalisation stocks in the latest example of financial dealings going completely electronic. The move, earmarked for the second quarter, comes as NYSE prepares to transition that market to Pillar, an integrated trading technology platform designed for its equities and options markets, according to a regulatory filing. It represents another shuttering […]
NEW YORK The S&P 500 ended flat on Tuesday as gains in healthcare and financials offset a drop in energy shares, while the Nasdaq hit another record high close. A drop in shares of IBM (IBM.N) weighed on the Dow. Based on the latest available results, the Dow Jones Industrial Average .DJI was down 31.85 points, or 0.16 percent, to 19,855.53, the S&P 500 .SPX was unchanged […]
Since the start of the 21st century the South American nation of Suriname, population 540,000, has been riding a commodity boom that yielded major benefits for a country rich in bauxite, gold, oil and bananas. From 2000 to 2014, annual per capita income more than quintupled to almost $10,000. Child mortality fell by a third. A child born there today can expect to live to 70, up […]
By Shadia Nasralla | VIENNA VIENNA Iran decided not to escalate a stand-off over the extension of U.S. sanctions at a meeting of diplomats overseeing the nuclear deal it reached with world powers in 2015, senior Russian and Iranian diplomats said after the session on Tuesday. Tehran threatened last month to retaliate against a U.S. Senate vote to extend the Iran Sanctions Act (ISA), saying it violated […]
WASHINGTON The Federal Reserve on Tuesday said it would turn over $92.0 billion in profits to the U.S. Treasury in 2016, down from the $97.7 billion the central bank’s 12 regional banks paid back to the U.S. government in the previous year. The Fed earns interest on government bonds that it holds as well as from securities tied to mortgage-finance giants Fannie Mae and Freddie Mac. Through […]
The debate about “fake news” has gripped politics since the election of Donald Trump in November and has entered markets as investors spar over a “great rotation” from bonds into stocks. Long predicted by some analysts, expectations of a pronounced rotation out of low-yielding bonds and defensive share sectors into areas of the equity market that prosper from faster economic growth have been heightened by the prospect […]
For more evidence that central bank intervention in the foreign exchange market is increasingly becoming an exercise in futility – look no further than Mexico. The peso briefly sank to a fresh all time low against the dollar on Tuesday, dropping by as much as 1.1 per cent to MXN 21.6227, as concerns continue to mount over incoming US president Donald Trump’s trade rhetoric towards Mexico, report […]
January 10, 2017 by: Nicole Bullock in New York US stock market bulls can be forgiven for feeling like Vladimir and Estragon, the two characters in Waiting for Godot. Donald Trump’s promise to cut tax and business regulation sent the Dow Jones Industrial Average up more than 8 per cent in quick order following his election in early November. However, it has failed to crack the 20,000 […]
Plans have been revealed for a AED1.8 billion ($490 million) development in Dubai to feature amusement parks, apartments, shops, restaurants and a cultural centre. Ento Capital Managment, an investment company licensed by the Dubai Financial Services Authority (DFSA), said it is geared to reconstruct the Wonder Land project, located on Al Riyadh Street. Hayssam El Masri, CEO of Ento Capital, said the project is slated to start […]
Submitted by Soeren Kern via The Gatestone Institute, Sharia courts administering Islamic justice in Britain are run by clerics who believe some offenders should have their hands chopped off, according to Muslim scholar Elham Manea. She described the prevailing attitude as “totalitarian” and as more backward than some parts of Pakistan. Teaching children fundamental British values is an act of “cultural supremacism,” according to the National Union […]
Photo Ayatollah Ali Akbar Hashemi Rafsanjani in 2016. Credit Fatemeh Bahrami/Anadolu Agency, via Getty Images Relations between the United States and Iran, which improved under President Obama to the point where the two sides were able to strike a nuclear deal, were already facing an uncertain future under Donald Trump, who has taken a tough line against Tehran. The death on Sunday of Ayatollah Ali Akbar Hashemi […]
The Federal Reserve should be ready to consider reducing the size of its balance sheet as part of its efforts to prevent overheating in the US, a senior policymaker said as he noted the pick-up in wage inflation and predicted a return of inflation to target by the end of the year. Eric Rosengren, the president of the Federal Reserve Bank of Boston, said that if the […]
