By Swati Pandey and Charlotte Greenfield | WELLINGTON WELLINGTON New Zealand Finance Minister Bill English said on Tuesday he planned to stand for prime minister after John Key’s surprise resignation a day earlier. English, a former Treasury Department analyst who is also deputy leader of the ruling centre-right National Party, is viewed by both lawmakers and political analysts as the front-runner for the top job. “I can […]
The great American corporate buyback party was expected to fizzle out next year, leaving a hangover of debt and remorse. Instead, the boom may soon find renewed succour if US companies bring their pile of foreign-based cash back home. A tax holiday for US companies looms under president-elect Donald Trump, with some seeing this wave of cash as the catalyst of an investment boom and faster US […]
Wall Street rose on Monday, with the Dow Jones industrials setting fresh record highs, as services sector data gave further evidence of strength in the domestic economy. U.S. services sector activity hit a one-year high in November, with a surge in production boosting hiring, following on the heels of Friday’s employment report that showed strong job gains last month. U.S. stocks have climbed since the Nov. 8 […]
Italy’s president has asked Matteo Renzi to stay on as Italy’s prime minister until the country’s budget law is passed in parliament, extending his stay at the helm of the Italian government for possibly a week. At a meeting in the presidential palace in Rome, Mr Renzi expressed his intention to resign after suffering a bruising defeat in a constitutional reform referendum held on Sunday. But Sergio […]
Islamic finance experts have developed new rules for gold transactions, they said on Monday, potentially opening the way for Islamic institutions to trade gold and silver much more actively. Gold transactions must be fully backed by physical metal and settled on the same day, the developers of the new guidance said, to observe Islam’s distinction between real economic activity and speculation. Traditionally, gold has played a very […]
December 5, 2016 by: Anjli Raval, Oil and Gas Correspondent Oil rose to its highest level since mid-2015, topping $55 a barrel, as traders bet on supplies tightening after Opec struck a deal last week to cut production for the first time in eight years. The 13-member cartel has now invited producers from outside the cartel to Vienna this week, as it looks to secure their backing […]
Monday, December 5, 2016 Alwaleed Philanthropies (AP), chaired by HRH Prince Alwaleed Bin Talal Bin Abdulaziz AlSaud, has announced its partnership with ‘Energies Pour L’Afrique’ headed by Jean-Louis Borloo, previous Leader of the Union of Democrats and Independents, and previous Minister of Ecology, Energy, Sustainable Development and Town and Country Planning, in aims to mobilize its network in increasing access to clean energy. Access to energy is […]
Monday 14.40 GMT Overview Italy’s stock market and much of the country’s banking sector is back under pressure, as investors refine their response to the No vote in the country’s referendum on constitutional reform that led to the resignation of Prime Minister Matteo Renzi. The yield on the country’s benchmark sovereign debt yield remains higher as investors continue to sell Italian government bonds. Italy’s 10-year government debt […]
BRUSSELS Linking aid for countries in the Middle East and Africa to how they manage migration can create dangerous precedents, the top United Nations’ refugee official warned the European Union on Monday. Overwhelmed by the arrival of more than a million refugees and migrants in 2015, the EU has tightened its external borders and sought to strike deals with countries along the migration routes to contain the […]
In the United States, too, I found resistance to the idea that Brexit was a harbinger of a Trump victory. I was assured over and over by liberal friends that Trump would never be president. American voters were too sensible to fall for his hateful demagogy. Trump, I was told, was a product of peculiarly American strains of populism that flare up periodically, like the anti-immigrant nativism […]
MILAN Ferrero, maker of Nutella chocolate spread, has appointed Jerome Gregoire, currently head of the company’s operations in Greece, Cyprus and Malta, as managing director at Delacre, the biscuit maker it has just bought from United Biscuits. Belgium-based Delacre said on Monday Ferrero had completed the acquisition of the Delacre and Delichoc biscuit brands from United Biscuits. Ferrero had made an offer in July to acquire the […]
This is the first of a series on the global rise of exchange traded funds The supposed death of the stock picker has become one of the dominant narratives of post-crisis finance. As trillions of dollars have rushed into low maintenance, index-based products facilitated by exchange traded funds, it has become common place to hear traditional fund managers and analysts complain that this wall of cash is […]
SINGAPORE: As Prime Minister of New Zealand, John Key has helped transform the country into a “resilient and vibrant economy”, said Singapore Prime Minister Lee Hsien Loong, expressing surprise at Mr Key’s resignation announcement on Monday morning (Dec 5). “As PM, Mr Key and his team dealt with some major challenges, including the global financial crisis and the 2011 Christchurch earthquake,” PM Lee wrote in a Facebook […]
Shares in Italian banks opened sharply lower Monday morning after voters rejected the country’s constitutional reform referendum, with investors questioning whether some of Italy’s largest financial institutions will now be able to raise capital needed to shore up their finances. Milan’s stock market benchmark, the FTSE Mib, was down 1.4 per cent to 16,857.0 in opening trading, led lower by its banks after Matteo Renzi, Italy’s prime […]
Discuss the law of large numbers with statisticians and they mean using large samples to improve experiments. Analysts take the phrase to mean no company or economy can grow stratospherically forever. China watchers have another approach, forecasting eye-popping numbers for future foreign investment into Chinese financial markets. Expected long-term inflows via the Shenzhen-Hong Kong Stock Connect, launched on Monday, are no exception. But in the short term, […]
Following a successful listing on the Australian Securities Exchange (ASX) on November 17 with a market capitalisation of AU$23 million, conversational commerce company Flamingo is now looking at Australia as a key market, with online lending marketplace DirectMoney being announced as its first local client. Born in Australia and based in the US, Flamingo is a software-as-a-service (SaaS) company that provides an “intelligent guided selling platform” to […]
December 05, 2016 Aluminium Bahrain B.S.C. (Alba), the Bahrain-based leading international aluminium smelter, announced the appointment of Waleed Tamimi today on Sunday December 4, 2016 as the new Director of Administration. A Lean Six Sigma Master Black Belt, Waleed comes from a business management background with a stronghold on operational excellence. He joined Alba in 2011 as a Master Black Belt Specialist in the Operational Excellence Department. […]
By Crispian Balmer and Gavin Jones | ROME ROME Italian Prime Minister Matteo Renzi said he would resign after suffering a crushing defeat on Sunday in a referendum on constitutional reform, tipping the euro zone’s third-largest economy into political turmoil. His decision to quit after just two and a half years in office deals a blow to the European Union, already reeling from multiple crises and struggling […]
New energy vehicles (NEVs) at Beijing Institute of Technology’s campus. Credit: Yu Hao Many Chinese cities are suffering from deteriorating environmental quality—particularly due to air pollution that contributes to fog and haze. Air pollutant levels now far exceed “safe” limits established by the European Union, and one of the main culprits behind it is the rapid increase in automobile ownership and usage. These rising environmental concerns are […]
ATHENS Political uncertainty in Europe has created fresh momentum for a “comprehensive and permanent” solution to the Greek debt crisis before the year ends, a government spokesman said on Sunday. Euro zone finance ministers will meet in Brussels on Monday to discuss short-term debt relief for Greece, and Germany’s Wolfgang Schaeuble said it must implement reforms instead of hoping for further debt forgiveness. Greece remained optimistic for […]
A gym membership can cost about Dh800 per month but the price of motivation to work out can cost triple that for some fitness fanatics, who feel that if they do not look the part – in the trendiest, branded activewear – they aren’t training right. What was once a niche market, targeted at serious athletes and serviced by big sports brands such as Nike and Reebok, […]
By Sanjeev Miglani | AMRITSAR, India AMRITSAR, India Afghan President Ashraf Ghani said on Sunday that the Taliban insurgency would not survive a month if it lost its sanctuary in neighbouring Pakistan, urging its neighbour to take on militant groups on its soil instead of giving Kabul financial aid. Ghani’s remarks, made at an international conference in the northern Indian city of Amritsar not far from the […]
By Arno Schuetze | FRANKFURT FRANKFURT Deutsche Bank’s Global Markets division will cut ties with about 3,400 clients in its debt and equities sales activities, the bank said on Friday. Deutsche Bank will immediately cease debt sales services to some financial institutions and hedge funds as well as equity sales activities, the execution of equities trading orders and equity structuring activities for some clients, a spokesman said, […]
· Family businesses are threatened by rapidly changing internal and external environments · Study by Strategy& (formerly Booz & Company) stresses the need for family businesses to identify priority areas for action to institutionalize and adapt · Strategy& suggests three focus areas for institutionalization: governance, strategy and corporate enablers · Although each family business has unique features, Strategy& has identified four archetypes of family […]
