February 13, 2017 by: Anjli Raval, Oil and Gas Correspondent Steep Opec production cuts could ease an oil market surplus quicker than expected in 2017, the oil cartel signalled in its first output assessment since a deal to curb supplies and bolster prices came into effect. After more than two years of allowing market forces to balance supply and demand, Opec in November agreed to again influence […]
By Anthony Deutsch | AMSTERDAM AMSTERDAM Syrian government forces used chemical weapons in opposition-controlled parts of Aleppo during battles to retake the city late last year, Human Rights Watch said in a report published on Monday. The findings add to mounting evidence of the use of banned chemical weapons in the six-year-old Syrian civil war and could strengthen calls by Britain, France and the United States for […]
For a long time TruePublica has consistently reported that Britain is the centre of the global money laundering business with its London Headquarters and network of off-shore tax havens. We have challenged reports and studies that have protected ‘The City’ and its army of suited mobsters that openly defy both domestic and international financial legislation whilst it administers the global looting machine. (Read our piece: Enemies of the State: […]
Muscat, February 14, 2017 Bank Sohar, continuing to invest in the capabilities and growth of its Executive Management members, has announced the appointment of Mr. Pieter De Witt, as the Bank’s new Chief Financial Officer and Mr. Khalid Khalfan Rashid Al Subhi, as the new AGM and Head of Compliance. Both; Mr. Pieter De Witt and Mr. Khalid Al Subhi are highly qualified individuals in their respective […]
Markets have started this week feeling much relieved, notes Bloomberg’s Richard Breslow, as the understandable fears that U.S.-Asia strategy might continue their lurch toward direct economic confrontation were given a respite. The phone call with Chinese President Xi went better than feared. And once the picture of the Japanese Prime Minister and American President high-fiving on the golf course was passed around, the sighs of relief were […]
|By Matein Khalid| The US Dollar Index has now fallen 3.5% since it peaked on January 3. Donald Trump and his White House aides broke the 20 year taboo against speaking out against the “strong dollar” policy platitudes. The Federal Reserve did not raise interest rates and signaled no rate hike is imminent at the March FOMC. It is significant that the US dollar has fallen against […]
Almost 20 US banks have been specifically targeted by Lazarus hackers. Image: iStock An aggressive campaign of malware attacks against dozens of banks across the globe has been linked to the notorious cybercriminal group known as Lazarus. The hacking gang, active since 2009, has been involved in a number of aggressive cyberattacks against financial institutions, including the theft of $81m from the Bangladesh Bank’s US Federal Reserve. […]
DUBAI// Schools are likely to face higher operating costs, lower profit margins and a scramble for the best teachers, according to education experts. An extra 175,000 school places are expected to be created in the UAE by 2020, 90 per cent of which will be in the private sector. The findings from the PwC Middle East published Understanding the GCC Education Sector, Country Profile: UAE report, states […]
|By Arabian Post Staff| Leading UAE bank FGB has successfully concluded one of Abu Dhabi’s first Special Purpose Vehicle (SPV) aircraft financing deals, in collaboration with Abu Dhabi Global Market (ADGM). The financing deals were part of ADGM’s innovative SPV regime, and were arranged to refinance two Etihad A380 aircraft bridge financings which were maturing in December 2016 and originally financed by FGB. Natixis Leasing secured the […]
By Jamie McGeever | LONDON LONDON World stocks and bond yields rose on Monday, lifted by a re-emergence of so-called “Trump trades” as investors bet that the U.S. president’s tax reform plans will boost economic growth and corporate profits. Following on from Friday’s record high closes on Wall Street, Asian stocks rallied to 1-1/2-year peaks and European stocks rose for the fifth consecutive session on Monday, their […]
Copper prices in China rose as much as 7 per cent on Monday to their highest level in more than two years amid continued upward pressure from a strike at the world’s largest copper mine in Chile. The price of copper contracts on the Shanghai Futures Exchange leaped as high as Rmb50,300 ($7,306.79) per tonne in Monday Asia trading, the highest level since May 17, 2014. Workers […]
Submitted by Nick Kaman of Letters from Norway Introduction: Norwegians are just now starting to grapple with the effects of their “single cylinder” economy, mostly dependent on oil and gas (ca. 60% of exports). Despite optimism about $50-$70/barrel oil, American crude output is surging, on track to be the highest ever, since 1970, while cracks start to form in OPEC’s latest agreement. In addition to the oil […]
Compliance with a global supply cut deal by OPEC and non-OPEC oil producers is expected to improve over the next months, the UAE Energy Minister said on Sunday. OPEC has delivered more than 90 percent of pledged oil output curbs in January, according to figures the exporter group uses to monitor its supply seen by Reuters, making a strong start to implementation of its first production cut […]
By Tetsushi Kajimoto and Stanley White | TOKYO TOKYO Japan’s economy grew for a fourth straight quarter in the final three months of last year as a weaker yen supported exports, but tepid private consumption and the risks of rising U.S. protectionism cast doubts over a sustainable recovery. Data on Monday showed the world’s third-largest economy grew an annualized 1.0 percent in October-December, roughly in line with […]
An award-winning Arabic-language film, Hedi, will be released with Arabic subtitles in the UAE, and across the region, as the local industry looks at ways to boost the popularity of Arab films in cinemas. This was one of a raft of measures to improve the popularity of Arab cinema, in the region and globally, discussed during a panel talk – New Prospects: Challenges and Opportunities in the […]
China’s largest property developer Dalian Wanda Group has set its sights on banks in Europe, including Germany’s Postbank, as it diversifies away from its core real estate business. The Beijing-based group led by China’s richest man is actively looking at several European financial institutions, three people familiar with the matter said. Postbank — which has been put up for sale by Deutsche Bank — was among the […]
Dubai, 12 February 2017 Emirates NBD (DFM: EmiratesNBD), a leading bank group in the region, held its tenth Annual General Meeting (AGM) at the Bank’s Headquarters. At the AGM, a review of the year ended 31st December 2016 was presented. Commenting on the business environment, Emirates NBD Chairman, His Highness Sheikh Ahmed Bin Saeed Al Maktoum, said, “The UAE continues to stand out as a resilient and […]
By David Alire Garcia | MEXICO CITY MEXICO CITY Thousands of protesters in more than a dozen Mexican cities took to the streets on Sunday to express their fierce opposition to U.S. President Donald Trump, portraying the new leader as a menace to both America and Mexico. Waving Mexicans flags and hoisting anti-Trump signs in both Spanish and English, some vulgar, many protesters also heaped scorn on […]
The UK is set to import its first ever cargo of liquefied natural gas from Peru as a pricing dispute forces shipments to Europe, with growing supplies of the supercooled fuel carving out new export routes. Peru LNG loaded a vessel this week that has its destination listed as the UK, according to data on Lima-based Perupetro’s website. It is carrying about 61,146 metric tonnes of LNG. […]
Dubai-UAE: 12 February, 2017 Governments can counter extremism, a willful deviation from general norms of conduct, through a series of steps according to Arie Kruglanski, distinguished professor of psychology at the University of Maryland. His comments came during a fullhouse breakout session entitled ‘Inside the Most Dangerous Minds: Insights for Government’ on Day One of the World Government Summit (WGS) 2017 in Dubai. Kruglanski said: “As the […]
A period of consumer spending, retail sales and housing weakness may be imminent, after federal tax refunds tumbled by 78% in the early part of February compared to 2016, the result of a new law which requires the IRS to delay the printing of checks to households claiming specific tax credits. The reason for the slowdown is that in late 2015 Congress passed a law forcing the […]
Credit: Salk Institute Although we spend a lot of our time online nowadays—streaming music and video, checking email and social media, or obsessively reading the news—few of us know about the mathematical algorithms that manage how our content is delivered. But deciding how to route information fairly and efficiently through a distributed system with no central authority was a priority for the Internet’s founders. Now, a Salk […]
Egypt, 12 February 2017 Flight diversions due to inflight medical emergencies make up a tiny portion of the millions of flights operated annually, but it is costly for airlines. With more people traveling by air, the actual number of inflight medical events has been gradually increasing over the years. Emirates, the largest airline by international traffic, operates over 3,500 departures a week, or more than 194,000 flights […]
It is time to disabuse our minds of the old notion that West Nile virus (WNV) epidemics spread in “most ideal temperatures of transmission”. A new study suggests otherwise — West Nile virus transmission is higher during drought. The study, published in Proceedings of the Royal Society B on Feb. 8, found out that drought is the key driver in the increased intensity of the WNV epidemics in the […]
