Last weekend, after looking at the latest H.8 statement by the Fed, we noted something concerning: total loans and leases by U.S. commercial banks were rising at an annual pace of about 4.6%, based on weekly Fed data. That is down from a 6.4% pace for all of last year and peak rates of around 8% in mid-2016. This is the slowest pace of debt creation since […]
FRANKFURT A large Porsche SE (PSHG_p.DE) stake owned by former Volkswagen (VOWG_p.DE) chairman Ferdinand Piech may be bought by other members of the Porsche and Piech clans before May 30, German weekly Bild am Sonntag said. Porsche SE said on Friday that Piech wanted to sell his 14.7 percent stake in the family-controlled holding company, which is worth at least 1.1 billion euros ($1.2 billion). It said […]
Government of Dubai Media Office, 19 March 2017 Chairperson of the International Humanitarian City (IHC) HRH Princess Haya Bint Al Hussein, wife of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, today opened the IHC’s Members Global Meeting organized by its newly appointed CEO and leading logistics expert, Giuseppe Saba, under the theme ‘ONE for Humanity’. Attending […]
Spam emails are often used to distribute malware. Image: Symantec Cybercrimes like phishing and malware distribution could almost be eradicated if organisations took one simple step to actively fight against it, a senior member of the UK’s organised crime fighting operation has claimed. That step, says Paul Edmunds, Head of Technology at the National Crime Agency (NCA) National CyberCrime Unit, is the adoption of an “active defence” […]
By Michael Nienaber | BADEN-BADEN BADEN-BADEN The failure of the world’s financial leaders to agree on resisting protectionism and support free trade marks a setback in the G20 process and poses a risk for growth of export-driven economies such as host Germany, economists said on Sunday. Acquiescing to an increasingly protectionist United States after a two-day meeting in the German town of Baden-Baden, the finance ministers and […]
Exciting programme of seminars includes focus on experiential travel theme, selling local experiences, and halal tourism 19 March 2017 The legacy of Expo 2020 is set to come under the spotlight on Arabian Travel Market’s Global Stage, returning for the 2017 show at Dubai World Trade Centre, from April 24 to 27. Expo 2020, between October 2020 and April 2021, will bring together more than 180 nations […]
By Tracy Rucinski | CHICAGO CHICAGO A U.S. judge formally approved Peabody Energy Corp’s (BTUUQ.PK) plan to emerge from bankruptcy late Friday after the coal producer struck a settlement with the U.S. government over legacy environmental claims at a gold and metal mining subsidiary. Under a last-minute deal with the U.S. Department of Justice, Peabody agreed to create a $43 million trust to manage environmental liabilities stemming […]
There are more than 100 places to get steak in the UAE and more steakhouses are opening all the time, which is testament to the fact that beef is one of the world’s most popular dishes. If there’s one thing the UAE likes to eat it’s beef, and the country’s connoisseurs have long enjoyed a love affair with one particular type – Wagyu. This intensely marbled beef […]
Authored by Daniel Lang via SHTFplan.com, For most of its recent history, China has largely been a land power with no significant naval capabilities. They haven’t been able to exert much military influence beyond their coastline for hundreds of years. In fact, one of the reasons why Western powers had no trouble bullying China during the 19th and 20th centuries, was because the Imperial Navy under the […]
Philippine President Rodrigo Duterte shakes hands with visiting Chinese Vice Premier Wang Yang, in Davao City,the Philippines, on March 17, 2017. (Xinhua/Rouelle Umali) MANILA, March 18 (Xinhua) — A senior Chinese official said on Saturday that China and the Philippines enjoy broad prospects of pragmatic cooperation, urging the two countries to grasp the opportunity to deepen and enlarge bilateral cooperation. “China and the Philippines are close in […]
18 March 2017 Dubai, UAE – The UAE’s wise leadership has worked tirelessly to anticipate the future, as a fundamental element of its strategies and plans. The vision of the UAE’s leadership, led by HH Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE; HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai; and HH Sheikh […]
Half of GCC-based companies have not started to prepare for the launch of 5 percent value added tax in the region next year, according to a survey conducted by global consultants EY. Only 11 percent of businesses said they have evaluated the changes that are needed to their financial, operational and information technology processes ahead of the introduction of VAT in January 2018. The survey revealed that […]
From the evil alien foe Krall in Star Trek Beyond, which was partly shot in Dubai, to the battle-hardened guerrilla commandant in Netflix’s harrowing debut feature Beasts of No Nation, and the tortured murder detective in the globally successful detective-show Luther, British actor Idris Elba has made a career out of playing tough guys. His latest show for Discovery Channel, Idris Elba: Fighter, however, sets out to […]
Jumeirah Central, Dubai’s upcoming new urban mixed-use district, is already attracting “significant interest” from international investors, according to a senior executive. The mega project, which has no deadline for completion yet, will make its international debut at MIPIM 2017, the annual gathering of the world’s most influential international property players being held in Paris. Master planned by Dubai Holding, Jumeirah Central is already attracting significant interest from […]
Forced applause usually follows a regulator’s remarks to the regulated. Not so inside the pink stucco walls of the Boca Raton Resort and Club in Florida this week. Chris Giancarlo of the Commodity Futures Trading Commission received a standing ovation when he spoke to hundreds of traders, brokers and exchange executives. The enthusiastic response reflects hopes in the derivatives industry for a better relationship with the CFTC, its principal […]
Apple, Huawei, LG, Samsung, Sony lead the way as retail extravaganza prepares to open its doors to thousands of visitors in Dubai Global smartphone revenues continue to grow; 97% of UAE users reliant on WhatsApp for communication 18 March 2017 Dubai, United Arab Emirates – Thinner, faster and even more intelligent than we could have imagined, smartphones are back with a bang this year and leading […]
By Allison Lampert | MONTREAL MONTREAL Bombardier Inc would suffer “irreparable harm” to its global reputation if it loses a light train contract from a Toronto transportation agency, a senior company official said in recent court filings. The Canadian plane and train maker, which is fighting to save the C$770 million ($573 million) contract with Toronto’s Metrolinx, will seek an injunction on March 21 to prevent […]
The advent of spring heralds many changes such as a rising temperature, the melting of ice, and the blooming of flowers. This transition from winter to the growing season is called the “vernal window” by scientists. According to a new study conducted led by researchers at the University of New Hampshire, there is an early opening of the vernal window and the phase may last longer. This indicates […]
The 11th edition of Art Dubai closed yesterday and it was, according to its director Myrna Ayad, another success. “We had very positive feedback from galleries, artists and visitors and it was an exciting first edition for me,” she says. “I’m already looking forward to next year’s edition as well as to develop and grow the fair alongside the team.” Other than Ayad herself, who is new […]
Finance ministers from the world’s biggest economies have dropped pledges to renounce protectionism in a meeting marked by tension over trade between the US and China. G20 finance ministers meeting in the German resort town of Baden-Baden noted the importance of trade to the global economy, but dropped tougher language from last year that vowed to “resist all forms of protectionism”. We have reached an impasse The […]
Prices for bonds sold by the Netherlands and France fell on Thursday, reversing early gains as Dutch voters rejected rightwing populism and opted for the status quo in an election regarded as a litmus test for Europe’s political future. Dutch and French sovereign debt initially outperformed German Bunds as investors reacted to news that the anti-EU populist Geert Wilders’ PVV party had fallen short of expectations. However, […]
Written by Ritu Sarin | New Delhi | Updated: March 16, 2017 10:32 am Image for representational purposes. Nearly a year after The Indian Express published the Panama Papers, tax authorities have succeeded in obtaining 165 replies — partial or complete — from among 13 jurisdictions where Indian nationals had incorporated offshore companies through the Panamanian law firm Mossack Fonseca. According to data made available at the latest […]
Real growth in the non-oil sector of Bahrain’s economy reached an annual rate of 4.7 percent in the third quarter of 2016, according to new official figures. This marked a clear acceleration from the 3.6 percent pace seen during Q2, said the country’s Economic Development Board in its latest research note. Overall, during the first three quarters of 2016 the Bahraini economy expanded by a real 3.6 […]
The world’s temperature sweltered last month. It was the second warmest February of all Februaries in almost 140 years, according to data released this week. Data from NASA’s Goddard Institute for Space Studies revealed that the global temperature in February was 1.1 degrees Celsius above average. Last year’s February recorded a temperature of 1.32 degrees Celsius, which was a breakaway from the average records in 137 years. The […]
