By Caroline Valetkevitch | NEW YORK NEW YORK U.S. stocks fell on Tuesday as financials and other big post-election gainers lost ground. Biotech and pharma stocks declined after President-elect Donald Trump said in a Washington Post interview over the weekend that he would target companies over drug pricing and that he was ready to unveil a plan to replace Obamacare. The Nasdaq biotech index .NBI was down […]
ABU DHABI // A winner of the UAE Rain Enhancement Programme award on Tuesday said the uncertainty about whether rain could be produced on demand proved the importance of funding. “That’s why we’re doing science, to try and unravel more of the effectiveness of rain enhancement,” said Dr Paul Lawson, one of three beneficiaries of this year’s US$5 million award, announced on Tuesday. “It’s like doing research […]
Donald Trump has threatened to overturn two decades of US economic policy by questioning the strong value of the dollar, raising fears that his presidency could set off a new round of currency wars between the world’s major economies. On Monday the president-elect appeared to break from the longstanding “strong dollar” policy of successive administrations, declaring that the currency was too high and that this was preventing […]
HH Sheikh Mansour Bin Zayed: “The UAE is playing an active role in driving research in science and technology to identify solutions to tackle global water security challenges. This comes in support of the ambitious innovation and energy strategies of our country” Abu Dhabi-UAE: 17 January, 2017 Under the patronage of His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs […]
|By Arabian Post Staff| The trend of falling real estate prices in Dubai is expected to continue throughout 2017, real estate consultancy CBRE said in an annual report. “With an expanding pipeline of new units, current deflation trends are likely to continue throughout 2017, with many new homes set to complete, Mat Green, Head of Research & Consultancy UAE, CBRE Middle East said, The residential sector experienced […]
Oracle CEO Mark Hurd said the movement to cloud computing is driven by business realities as much — if not more — than technology. Speaking at his keynote at Oracle CloudWorld in New York, a regional tour designed to land cloud customers, Hurd said the global gross domestic product is growing at about a 2 percent clip. Half of the growth in the world is coming from […]
A senior member of Donald Trump’s team insisted that the president-elect was committed to globalisation, open trade and Nato despite recent comments that unsettled America’s allies. Anthony Scaramucci, Mr Trump’s newly appointed public liaison official, told the World Economic Forum in Davos on Tuesday that the European and American elite had misunderstood Mr Trump and would change their views when he took office. In particular, he argued […]
Speaking of Kushner, I was told he refused to meet with a senior French diplomat after a demand from Trump Tower that the Paris conference be canceled was ignored. Get used to my-way-or-the-highway diplomacy with team Trump. U.N. resolution 2334 infuriated Prime Minister Benjamin Netanyahu of Israel, who called it “shameful.” He seemed surprised that ignoring Obama’s veto of an earlier settlements resolution in 2011 would have […]
Theresa May’s first big speech on Brexit since she became prime minister removed some of the political uncertainty that has dogged the pound. However, the messiness of the politics of Britain’s exit from the EU still tops the lost of reasons why sterling will remain under pressure. A list of the pound’s pros and cons quickly shows why it is languishing at levels last seen in the […]
Submitted by Charles Hugh-Smith via OfTwoMinds blog, The Eastern Establishment fears and loathes Outsiders, and seeks to destroy them, usually via the mainstream media. Political agnostics who are skeptical about Big Government “solutions,” left or right, view the current hullabaloo about the Trump presidency with some detachment. What’s remarkable to us is the extremism, not just of those bitter about Clinton’s loss, but by insiders who are […]
Three years ago, The New York Times published its innovation report, an unsparing assessment of the newsroom’s many weaknesses. Nearly 100 pages long and full of words like “worrying,” “shrinking” and “upheaval,” the report described a New York Times that was in a digital standstill while competitors like BuzzFeed, Vox Media and The Washington Post were racing ahead. Today, The New York Times released the results of […]
In PwC’s 20th annual survey of CEOs worldwide, 38% (2016:35%) are very confident about their company’s growth prospects in the next 12 months while 29% (2016:27%) believe global economic growth will pick up in 2017 In PwC’s 20th annual survey of CEOs worldwide, 38% (2016:35%) are very confident about their company’s growth prospects in the next 12 months while 29% (2016:27%) believe global economic growth will pick […]
|By Arabian Post Staff| Dubai-based leading private-equity firm Abraaj is raising an investment fund this year that will have a global focus as the company seeks opportunities in defensive industries such as health care and education, chief executive Arif Naqvi said in an interview at Davos. The firm has “a group of investors who have been supportive of us all the way through the last few years,” […]
Masdar, Abu Dhabi’s renewable energy company, has acquired a stake in Hywind Scotland, a 30-megawatt (MW) floating offshore pilot wind farm in the North Sea, it was announced on Tuesday. Through the transaction, Statoil and Masdar have agreed to share the development risk and Masdar will cover 25 percent of previous and future costs. Due to start commercial operation in late 2017, Hywind Scotland is the world’s […]
January 17, 2017 by: Henry Mance, Political correspondent Theresa May has promised a clean break with the EU, saying that Britain would not “seek to hold on to bits of membership as we leave”. In a much anticipated speech outlining her Brexit objectives, the prime minister said that Britain would seek “a new and equal partnership” with the other 27 countries in the EU — not “anything […]
Computers have long helped us with our analytic tasks at work. But new technology options mean we can now work with them in more collaborative and intuitive ways. At one level, this is nothing new: computers have been making business decisions for a long time. For example, people used to decide how much airline seats should cost or whether a credit card transaction was fraudulent. Computers now […]
The richest 1% of Indians hold 58% of the country’s total wealth, according to Oxfam India. The stark inequality in India is worse than the global data put out by the organization, which show that the richest 1% have more than 50% of the total world wealth, Oxfam said. The anti-poverty advocacy group released a report, “An Economy for the 99%” this week to coincide with the […]
By Kylie MacLellan and William James | LONDON LONDON Britain will not seek a Brexit deal that leaves it “half in, half out” of the EU, Prime Minister Theresa May will say on Tuesday in a speech setting out her priorities for divorce talks which indicates she is prepared to leave the single market. Sterling, which has traded at the lowest levels against the U.S. dollar for […]
By Henning Gloystein | SINGAPORE SINGAPORE Oil dipped on Tuesday on lingering concerns over global fuel oversupply due to rising U.S. output and doubts that OPEC and other producers would adhere to commitments to cut output in an effort to balance markets and prop up prices. Brent crude futures, the international benchmark for oil prices, were at $55.55 per barrel at 0643 GMT, down 31 cents from […]
The US dollar is weakening this morning after comments from president-elect Donald Trump that the greenback was “too strong” against the Chinese currency. “Our companies can’t compete with them [Chinese companies] now because our currency is too strong. And it’s killing us”, Mr Trump told the Wall Street Journal. His comments have helped soften the dollar index, which measures the greenback against a basket of its major […]
Baidu has announced the appointment of Dr Qi Lu as its group president and chief operating officer, who will be responsible for the organisation’s products, technology, sales, marketing, and operations, effective immediately. Lu joins the search engine giant from Microsoft, where he served as the company’s global executive vice president and led Microsoft’s Office business. Prior to Microsoft, Lu was senior vice president in charge of search […]
By Noah Barkin | DAVOS, Switzerland DAVOS, Switzerland Chinese President Xi Jinping will defend globalisation in the face of mounting public hostility in the West on Tuesday in a speech at the World Economic Forum that will underline Beijing’s growing global role. Xi’s appearance, a first for a Chinese leader at the annual meeting of political leaders, CEOs and bankers in Davos, comes as the part the […]
BEIJING Cadillac, General Motors Co’s (GM.N) luxury brand, is predicting a double digit growth rate in China sales this year, the brand’s country chief Andreas Schaaf told Reuters on Tuesday. The brand – which opened its first dedicated factory in China last year, helping boost Cadillac sales in the country by 46 percent – expects China to become its top market in less than five years, Schaaf […]
ABU DHABI // The UAE is positioning itself as a “centre of gravity” for energy, officials said at the opening of Abu Dhabi Sustainability Week on Monday. Tens of thousands of people from more than 170 countries were welcomed at the event, which is the first major international gathering in 2017 aimed at mitigating climate change. Issues such as growing energy and water needs, challenges of urbanisation […]
