Posted: Dec. 27, 2016 7:00 am Updated: Dec. 27, 2016 7:46 am MANILA, Philippines (AP) The Philippine coast guard pressed its search Tuesday for 18 crewmen from a cargo ship that sank at the height of Typhoon Nock-Ten, which struck the country on Christmas Day. Coast guard spokesman Armand Balilo said 14 other crewmen have been rescued and one died after the M/V Starlite Atlantic sank […]
Law Blog rounds up the morning’s legal news: Law firm hacking: Three Chinese traders earned more than $4 million in illegal profits after they hacked into the computer systems of prominent U.S. law firms and stole nonpublic information on mergers and acquisitions, according to an unsealed federal indictment. [WSJ, NYT] Student loan bankruptcy: Borrowers are beginning to win battles to erase some student loans in bankruptcy court, […]
Photo Construction this week in the settlement of Har Homa in Jerusalem. Credit Atef Safadi/European Pressphoto Agency JERUSALEM — Israeli leaders postponed plans on Wednesday to move ahead with new housing in East Jerusalem, just hours before Secretary of State John Kerry was scheduled to deliver a much-anticipated speech outlining an American vision for peace with the Palestinians. The Jerusalem city planning committee, reportedly acting at the […]
When the direct trading link between stock markets in Shenzhen and Hong Kong opened this month, local dignitaries were easy to spot at the launch events. Less conspicuous were international investors ready to take advantage of what was billed as a big opportunity to buy into Chinese equities. The link offers foreign investors greater access to shares on the Shenzhen Stock Exchange, home to some of China’s up […]
Qatar Airways has reportedly spoken of a positive outlook for 2017, as its rivals Emirates and Etihad Airways scale back in response to tough economic conditions and lower air travel demand. A spokesperson for Qatar Airways told Doha News that the airline would be adding new routes next year, and had recently put in a new order for Boeing aircraft. The spokesperson reportedly added that Qatar Airways […]
By Makiko Yamazaki | TOKYO TOKYO A looming writedown at Japanese conglomerate Toshiba Corp has wiped almost $5 billion off its value in two days and prompted a credit rating downgrade on Wednesday, as the company grapples to plug a potential multi-billion dollar hole. Toshiba said late on Tuesday that cost overruns at a U.S. nuclear business it bought from Chicago Bridge & Iron last year, CB&I […]
28 December 2016 The UAE Banks Federation (UBF), the professional body representing 49 banks in the UAE, announced today its whole weight contribution as strategic partner for the 2017 ACFE Fraud Conference Middle East, set to take place in Dubai from 29-31 January 2017 at Atlantis, the Palm. Held under the patronage of His Excellency AbdulAziz Al Ghurair, Chairman of UAE Banks Federation (UBF), the event is […]
BEIJING The eastern Chinese city of Wuxi will suspend poultry trade from Thursday amid fears about bird flu, becoming the second city in Jiangsu province to halt live poultry markets, it said. The city will close live poultry wholesale markets, restrict vehicles carrying live poultry from entering Wuxi markets and temporarily ban the entry of outside poultry, the city’s information office said on Wednesday on its official […]
|By Arabian Post Staff| Abu Dhabi Stock Exchange (ADX) announced that short selling will be allowed for selected stocks from next year. The move is aimed at boosting trading volume and to attract foreign investors to the illiquid market. ADX is currently meeting brokerages ahead of the introduction of short-selling service early in 2017, according to a statement posted on the bourse’s website. The step would make […]
CBC’s I-Team tackles a wide variety of stories in any given year. There are hidden camera shoots, accountability interviews, court cases, long hours on the phone with tipsters who want to remain anonymous, dozens upon dozens of freedom of information requests, and data-mining on all manner of topics. This year, the investigative team tackled everything from health and safety issues in the nail salon industry to doctors who […]
Shares in Toshiba sank by their daily limit of 20 per cent on Wednesday morning as investors scrambled to reassess the company’s financial stability and questioned the future of one of Japan’s most celebrated industrial names. The stock plunge followed Toshiba’s warning to the market the previous evening that it could book multibillion-dollar impairment losses on part of its Westinghouse nuclear business in the US – a […]
Cristina Fernández de Kirchner, Argentina’s former president, has been charged over corruption accusations in public works projects, marking the most significant legal setback for the embattled populist leader. Judge Julián Ercolini cleared the way on Tuesday for legal proceedings against Ms Fernández in what is the second of several cases being investigated to go to trial. She was indicted in May over allegations of manipulating the central […]
After a two-year experiment with free markets, the pain of low oil prices forced the world’s biggest producers to join forces in 2016 and tackle a global supply glut. Saudi Arabia-led Opec and non-member countries, primarily Russia, agreed after months of discussion and back channel diplomacy to cut production for the first time since the global financial crisis. Prices look set to end the year in the […]
By Diane Bartz | WASHINGTON WASHINGTON Healthcare company Abbott Laboratories (ABT.N) has won U.S. antitrust approval for its proposed $25 billion acquisition of medical device maker St. Jude Medical Inc (STJ.N), the U.S. Federal Trade Commission said on Tuesday. Abbott agreed to divest two medical devices used in cardiovascular procedures to resolve FTC concerns the acquisition would stifle competition, the commission said in a statement. The company […]
The software behind the exposure of a financial scandal was supplied by an Irishman’s firm, writes Joe Leogue. It may now seem like a lifetime ago, but before Trump and Brexit stole the limelight, the revelations contained within the Panama Papers were early contenders for the story of 2016. The reports that emerged from the huge cache of leaked documents showed the world how the rich exploited […]
Given the number of people in the city, New Yorkers rarely feel they’re on the same page with each other. The day after Donald Trump was elected United States president, however, they quietly mourned together. The weather, as if set in a Shakespearean drama, reflected the solemn state of the city’s inhabitants. In the days leading up to the election, the weather was perfectly crisp. The annual […]
By Patrick Graham | LONDON LONDON Share prices inched higher on Tuesday as trading in some of the world’s major financial markets resumed after a Christmas break, with oil and the dollar also rising marginally. Concerns about Italian banks, Chinese growth and U.S. President-elect Donald Trump’s protectionist bent look set to keep investors on edge into the start of 2017. But expectations the new administration will splash […]
Abu Dhabi’s stock market plans to introduce covered short-selling in the first quarter of 2017, its chief executive said on Monday, as it seeks to boost liquidity and attract more foreign investors. In covered short-selling, investors borrow shares and sell them in the expectation of repurchasing them later at a lower price. Regulators in the Gulf have until now shied away from allowing the practice because of […]
Toshiba warned the market that it could book an impairment loss of “several billion dollars” at its troubled US nuclear division and reconsider its presence in that industry as accounting issues returned to blight one of Japan’s biggest industrial names. With Toshiba’s financial position becoming more clouded by the announcement, its chief executive, Satoshi Tsunakawa, told a press conference on Tuesday night in Tokyo that the company […]
The eurozone’s biggest stock markets are closing in on double-digit gains for the final quater of 2016, as a combination of resurgent banks shares and a weaker euro entice investors into a region that has disappointed for much of the year. On Tuesday’s return from the Christmas break, Germany’s Xetra Dax 30 advanced 0.1 per cent in early afternoon trading, and is now up more than 9 […]
TOKYO Tokyo Electric Power (Tepco) is gauging demand for its first bond offering since the 2011 Fukushima nuclear calamity, with some market participants expecting a sale as early as February, people familiar with the plans said. Once-sceptical investors are now more comfortable with the utility’s outlook after government moves to reassess decommissioning and compensation costs, bankers and investors who asked not to be identified told Thomson Reuters […]
In 2016 it was all about Panamagate. But by retaining Konrad Mizzi in his executive and Keith Schembri besides him in Castille, Prime Minister Joseph Muscat stubbornly failed to recognise the extent of the public outrage at these revelations Jurgen Balzan 27 December 2016, 7:20am Joseph Muscat stood by his men and by his own admission, he evidently considers himself unable to complete the energy plans without […]
A problem has emerged for France’s anti-immigrant, anti-Euro presidential frontrunner, Marine Le Pen, and it has little to do with being behind in the polls ahead of the 2017 presidential elections, far from it. It has, however, everything to do with something far simpler: money, as the National Front leader is suddenly struggling to raise the €20 million ($21 million) she needs to fund the French presidential […]
Dec 27, 2016 12:54 pm IST A Mumbai-bound Jet Airways plane carrying 161 people skidded off the runway on Tuesday at Goa’s Dabolim airport in western India. The Boeing 737 aircraft with 154 passengers and 7 crew members on board veered off on the runway minutes before it was scheduled to takeoff early morning from Goa, a popular holiday destination to travel to India’s financial capital Mumbai, […]
