DUBAI: Combining the capabilities of the United Arab Emirates (UAE) and Saudi Arabia can create historic opportunities for their peoples and the whole region, said Sheikh Mohammed bin Rashid Al-Maktoum, UAE vice president and prime minister, and ruler of Dubai, WAM reported on Tuesday.He was speaking at a joint retreat on Saadiyat Island, attended by some 150 Emirati and Saudi officials to discuss the best ways to […]
By Yashaswini Swamynathan U.S. stocks looked set to open little changed on Wednesday as investors awaited the minutes of the Federal Reserve’s most recent policy meeting for clues on the timing of the next interest rate hike. The Fed will release the minutes of its Jan. 31-Feb. 1 meeting at 2:00 p.m. ET (1900 GMT). Policymakers, including Fed Chair Janet Yellen, have been hinting at the possibility […]
The global Panama Papers investigation is based on the unprecedented leak of confidential information from Panamanian law firm Mossack Fonseca. (Arnulfo Franco / THE ASSOCIATED PRESS FILE PHOTO) In Brisbane and Ankara, Harare and Quito, Berlin and New York, the Panama Papers investigation into tax haven abuses has been recognized with some of the most prestigious journalistic accolades on the planet. The International Consortium of Investigative Journalists, which […]
Political uncertainty is slowing trade growth, a World Bank report has concluded, indicating that the rise of Donald Trump may already be casting a shadow over the global economy. Major international institutions such as the IMF, the OECD and World Bank have recently upgraded their forecasts of global economic growth largely due to expectations that tax cuts, rising infrastructure spending and a wave of deregulation will boost the […]
Wednesday 12:45 GMT Overview US equity futures suggest Wall Street will dip from record levels that were reached amid a positive outlook for economic growth. Political concerns leave the euro carrying the wooden spoon in the forex markets, while the rush for supposed havens pushes short term German bond yields to their lowest ever. Hot topic The FTSE All-World equity index is at another record, up 0.1 […]
I’m an innovation evangelist with SAP. Each year, I present at about 50 conferences around the world, talking to business and IT audiences about the impact of the latest technologies. I’ve been doing this for a long time, but I’ve recently noticed a change. When I talk about topics such as analytics and big data, audiences are clearly looking for lessons learned that they can apply to […]
By Henning Gloystein | SINGAPORE SINGAPORE Oil traders from around the world, including the United States, Britain and Brazil, have tripled their sales to Asia as they take advantage of an emerging supply gap following OPEC-led production cuts announced late last year. Around 30 supertankers have this month made long-haul trips to ship crude oil from the Americas, the North Sea and the Mediterranean to refineries across […]
Paul Polman thought it was just going to be an informal catch-up. But it quickly became clear that Alexandre Behring, chairman of Kraft Heinz, had something very specific on his mind when he visited Unilever’s art deco headquarters in London last month. Had Mr Polman, chief executive of Unilever since 2009, ever considered a collaboration with Kraft Heinz, Mr Behring wanted to know. Mr Polman took this […]
Australia’s mobile networks have again risen in the global rankings to being the fifth fastest in the world with an overall speed of 26.25Mbps across 3G and 4G, according to telecommunications coverage mapping company OpenSignal’s latest report. South Korea was ranked first, with 37.54Mbps overall speeds — calculated on the average mobile data connection based on speeds and availability of 3G and 4G networks — followed by […]
Oil company Saudi Aramco [IPO-ARMO.SE] has selected JPMorgan Chase & Co, Morgan Stanley, and HSBC Holdings Plc as lead underwriters for its planned initial public share offering, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. The listing of Aramco is expected to be the world’s biggest initial public offering and could raise up to $100 billion. The IPO is the centerpiece of […]
If eight years under Obama rule, 6 of which included Republican majorities in Congress, taught us anything, it’s that Presidents have fairly broad authority to govern through executive orders and rules changes implemented at the 100’s of government agencies responsible for overseeing our every move. Fortunately for the Trump administration, this broad Presidential authority extends to immigration laws and, despite his recent defeat in the 9th Circuit, […]
22 Feb 2017, Doha, Qatar The Commercial Bank (P.S.Q.C.) (“the Bank”), its subsidiaries and associates (“Group”) announced today its financial results for the full year ended 31 December 2016. The Group reported a net profit of QAR 501.4 million as compared to QAR 1,434 million for the same period in 2015, a decrease of 65%. The Bank reported a net profit of QAR 683 million (2015- QAR […]
By Nathalie Kantaris Diaz | PARIS PARIS Amnesty International said on Wednesday U.S. President Donald Trump’s “poisonous” rhetoric on his way to winning the White House led a global trend towards increasingly divisive politics in 2016 that had made the world a “darker” place. In its annual report covering 159 countries, the human rights group said principles of human dignity and equality had come under assault from […]
By Shinichi Saoshiro | TOKYO TOKYO Asian stocks edged up on Wednesday, joining a record-setting night for world markets as investors cheered upbeat factory activity in Europe and solid earnings on Wall Street. The dollar was steady after hawkish comments from top Federal Reserve officials bolstered expectations the world’s no. 1 economy was strong enough to keep policymakers on course to further raise rates this year. MSCI’s […]
UPS has announced plans for deliveries via drones, but unlike Amazon’s drone delivery schtick, it’s not offloading them from a distant outpost or even a blimp: it’s integrating them intro delivery trucks, perched atop the vehicle, prepared to launch at various points within a route. UPS Fuses Delivery Trucks With Drones The Georgia-based package delivery company ran the initial drone delivery service tests Monday in a small […]
Creditors of Saudi Arabia’s Al Ittefaq Steel Products, the country’s largest private sector steel manufacturer, have provisionally agreed to a 6.2 billion riyals ($1.7 billion) debt restructuring, banking sources told Reuters on Tuesday. The terms of the deal have still not been finalised but banks have reached an agreement in principle to give the company a two year window in which it would only pay interest on […]
The International Monetary Fund’s description of Greek debt as potentially explosive has left negotiators in Brussels struggling to bridge the differences between Athens and its creditors before time runs out to avert default. With creditors unwilling to release the next tranche of bailout money needed to keep the country afloat, Greece is facing €7bn of debt redemptions in July that it cannot afford. Investors appear to have […]
Whatever route the government chooses for Brexit it will need to cooperate with other countries, especially our EU neighbours, to combat tax avoidance, tax evasion and money laundering. Yet the signs are not very good as the government seems to have chosen non-cooperation. It has snubbed the EU inquiry into the Panama Papers. Last year, a leak of 11.5m documents and 2.6 terabytes of information from the […]
Restaurant Brands International Inc (QSR.TO), owner of the Burger King and Tim Hortons fast-food chains, said on Tuesday it would acquire Popeyes Louisiana Kitchen (PLKI.O) for $1.8 billion in cash. The deal is a bet by Oakville, Ontario-based Restaurant Brands that it can use its international reach to introduce Popeyes’ Louisiana-style fried chicken and buttermilk biscuits to more diners globally. Popeyes shareholders will get $79.00 for each […]
European markets regulators are examining a potential loophole in share-trading rules, which they fear promotes lightly regulated, private networks rather than placing curbs on trade away from public exchanges. Concern is mounting that the rules, which take effect from next January, could be exploited by some banks and high-frequency traders (HTF), to sidestep policymakers’ determination to make share trading more transparent. In an effort to improve trading […]
Qualcomm is stepping up its Internet of things game with support for Android Things OS, integration with Amazon Web Services and two systems-on-chips that aggregate a bevy of standards. special feature Louisville and the Future of the Smart City Louisville, Kentucky is building a unique bridge between the smart city and the smart home. Here’s what communities and citizens can learn about the benefits of the onrushing […]
Instagram has revealed there are 63 million users in the MENA region, equivalent to ten percent of the social media platform’s global community. Worldwide, Instagram has 600 million people actively using the platform each month, with 400 of those logging in on a daily basis. Instagram Stories has also proven popular, with 150 million new posts each day. The latest figures highlight how people in MENA have […]
By Sumeet Chatterjee and Lawrence White | HONG KONG/LONDON HONG KONG/LONDON HSBC Holdings (HSBA.L) reported a 62 percent slump in annual pre-tax profit that fell way short of analysts’ estimates as the British bank took hefty writedowns from restructuring and pointed to brakes on revenue growth. HSBC shares slid more than 6 percent after the company reported revenues fell by a fifth from 2015, underscoring the challenge […]
Tuesday 08:45 GMT Overview European stocks are easing back after a mixed Asia session as Wall Street looks to re-enter the fray at record levels. The dollar is stronger and Treasury yields are moving up as expectations build of tighter US monetary policy, a scenario that is hurting gold. Hot topic European government bond markets remain a focal point for investors after an opinion poll showed Marine […]
