TOKYO Asian shares hit 21-month highs on Tuesday while the dollar and U.S. bond yields were on the backfoot on the prospect of a less hawkish than previously expected Federal Reserve policy trajectory. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.3 percent in its eighth consecutive day of gains with tech-heavy Seoul and Taipei shares .KS11 .TWII hitting two-year highs while Hong Kong’s Hang […]
Chinese networking giant Huawei will be constructing and opening a datacentre in New Zealand within two years as well as expanding its research centre in Wellington and opening another one in Christchurch, it has been reported. According to a report by Stuff NZ, Huawei will be spending around NZ$400 million over the next five years in an effort to source products and services in addition to opening […]
21 March 2017 Dubai, United Arab Emirates – HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, has inaugurated the 200 megawatt (MW) second phase of the Mohammed bin Rashid Al Maktoum Solar Park. The project reflects a new era in the excellence and leadership of the UAE, as it increases the share of clean and renewable energy. […]
By Henning Gloystein | SINGAPORE SINGAPORE Oil prices rose early on Tuesday on expectations that an OPEC-led production cut to prop up the market could be extended, and as strong demand was seen to slowly erode a global fuel supply overhang. Prices for front-month Brent crude futures, the international benchmark for oil, were at $51.76 per barrel at 0043 GMT, up 14 cents, or 0.3 percent, from […]
The UAE has pledged US$15 million (Dh55m) to a historic alliance to protect cultural heritage sites threatened by war and extremism. The Emirates was among the world donors that pledged more than $75m during a conference at the Louvre Museum in Paris, attended by Sheikh Saif bin Zayed, Deputy Prime Minister and Minister of Interior, French president Francois Hollande and other officials. The conference established the International […]
The release of the Panama Papers exposed an elaborate kickback scheme whose tentacles spread from the Caribbean island of Aruba to warehouses in Doral to the offshore banking haven of Panama City, according to a lawsuit filed in Miami federal court. The scam was allegedly hatched by Egbert Koolman, an employee of Aruba’s state-owned telecommunications provider, Setar. Koolman’s job was to buy phones from suppliers around the […]
20 March 2017 Sharjah — American University of Sharjah (AUS) will hold its annual Global Day festival on March 23, 2017 at 5:00 p.m. at the AUS Main Plaza and Main Building. One of the most anticipated events of the year, Global Day showcases the different cultures represented among the AUS student body, with student clubs setting up stalls that present traditional items, music and cuisine. You […]
Rhetoric has recently trumped reality. It has become a misconceived bit of common “knowledge” that the United States of America is a bastion of free trade. Little could be further from the truth. The “freest” nation on earth, as we are taught to believe, imposes a staggering number of tariffs, import and export bans, sanctions and embargoes. Yet somehow “free trade” is blamed for the financial ills […]
By Matt Spetalnick and David Brunnstrom | WASHINGTON WASHINGTON The Trump administration is considering sweeping sanctions aimed at cutting North Korea off from the global financial system as part of a broad review of measures to counter Pyongyang’s nuclear and missile threat, a senior U.S. official said on Monday. The sanctions would be part of a multi-pronged approach of increased economic and diplomatic pressure – especially on […]
Perched atop the Delta IV rocket as it blasted off in Cape Canaveral Air Force Station on March 18 was a US Air Force’s Wideband Global SATCOM (WGS-9) satellite. The WGS-9 will be the ninth member of the planned network of 10 military communication satellites in space. “WGS provides anytime, anywhere communications for soldiers, sailors, airmen, Marines and international partnership through broadcast, multicast, and point-to-point connections,” Robert Tarleton, […]
DUBAI // If the humanitarian and refugee crises affecting the region today are not properly addressed they will return as major issues for tomorrow’s generation, according to the Minister of Education. On Monday at the Youth Engagement and Global Refugee Crisis at the American University in Dubai, Hussain Al Hammadi said that the UAE was working on instilling a culture of volunteering in school curriculums to ensure […]
Education technology in the classroom is a waste of time and money. This is the dominant debate at the fifth Global Education & Skills Forum (GESF). Introducing the motion, moderator Dino Varkey, Chief Executive Officer of GEMS Education, said education technology spending globally will reach US$19 billion by 2019, according to Fortune magazine. At that cost, expectations of measurable returns are increasing. “While many sing praises of […]
The Authority marks the day with a range of internal and external initiatives to spread joy inside the Authority and beyond to the whole community 20 March 2017 Dubai, UAE – Dubai Culture & Arts Authority, the Emirate’s dedicated entity for culture, arts and heritage, has celebrated International Happiness Day 2017 with a range of internal and external initiatives that have spread joy inside the Authority and […]
UAE-based mother, baby and child e-commerce website Mumzworld has commenced talks to raise new funds for expansion across the non-Gulf Cooperation Council (GCC) countries, its founder says. In February 2016, the company successfully closed its Series B funding with multi-million dollar investments led by Wamda Capital, twofour54, and Endeavor Catalyst, aimed to support its expansion in the GCC. “We are now across the GCC. The UAE and […]
While VIX declined last week, the cost of protecting against major market swings has spiked above its previous Brexit-vote-day peak, reaching a fresh all-time high. As a reminder, CBOE explains, SKEW, is calculated from the prices of S&P 500 out-of-the-money options. SKEW typically ranges from 100 to 150. A SKEW value of 100 means that the perceived distribution of S&P 500 log-returns is normal, and the probability […]
CRA assistant commissioner Ted Gallivan said tax fraudsters identified in the Panama Papers will not be allowed to clear their name by declaring their hidden assets and paying back taxes and interest, a process called voluntary disclosure. (Graeme Roy / THE CANADIAN PRESS file photo) For the Canada Revenue Agency, the Panama Papers was a line in the sand. Unlike those exposed by previous leaks, tax cheats named […]
DUBAI // The Netherlands has announced its participation in Expo 2020. Innovation is a link that the UAE aims to build on with the Dutch who were ranked ninth last year on the Global Innovation Index that lists world economies based on their innovation capability. The UAE’s objective is to join the Netherlands in the top 10 by 2021 and the two countries are mapping out ways […]
The captions may be brief but the portraits are both striking and revelatory. One photograph is that of an imam in Lanzhou, Gansu province, known for his laughter. Another is that of an imam from Quanzhou, Fujian province, whose child has surpassed his father’s warrior-like skills, embodying the wisdom of the dragon while striking a pose like a tiger. They form part of a new exhibition at […]
20 March 2017Research Nester has recently announced its latest Industry research on “Medical Robotics Market: Global Demand Analysis & Opportunity Outlook 2023”. Medical robots allows surgeons to carry out operations in more precise and less invasive way, medical robots increases accuracy of the operation along with wide range of advantages such as decreases risk of infection, decreases post-operative pain and reduces risk of patients life. Along with […]
Young UAE nationals are looking for jobs in new sectors because of the changes in the country’s economic portfolio that focuses on manufacturing, technical innovation and future sciences, according to Ibrahim Al Asmawi, HR Manager, Adecco Middle East, the provider of workforce solutions. With ongoing plans of diversification of economy away from oil, many UAE nationals now seek jobs at different fields of engineering – space, mechanical […]
FX traders had a slightly delayed reaction to news that UK PM Theresa May will trigger Article 50 next Wednesday but Cable is now sliding on the headlines. However, with speculative positioning already at record lows, many are asking “why would a long-term trader sell the pound now?” As Bloomberg’s Mark Cudmore notes, it’s a question worth asking, because it seems that the vast majority of potential […]
IBM IBM and Wanda Internet Technology Group have agreed to form a new joint venture to bring IBM Cloud services to China. On Sunday, the two companies announced the plans in Beijing, which includes the formation of Wanda Cloud Company, a JV which will push Wanda into the public cloud business. Based on IBM’s cloud platform, Wanda’s new offerings will focus on Chinese enterprise customers seeking to […]
20 March 2017 Doha, Qatar – After reaching the mark of two million users per month to become the largest flight metasearch engine in Brazil, Travel Capitalist Ventures announces a substantive investment in Voopter. The “Series B” comes from Travel Capitalist Ventures (Qatar office), a travel focused investment firm providing capital, hands-on advice and resources, as well as a co-investment with No Borders Investments Limited (Doha). The […]
By Heather Somerville | SAN FRANCISCO SAN FRANCISCO Ride services company Uber Technologies Inc [UBER.UL] has been thrust deeper into turmoil with the departure of company president Jeff Jones, a marketing expert hired to help soften its often abrasive image. Jones quit less than seven months after joining the San Francisco company, an Uber spokesman said on Sunday. In a statement to Reuters, Jones said he could […]
