When US authorities started pursuing banks for their role in slicing, dicing and packaging the arcane products that sparked the financial crisis, they initially focused on domestic lenders. Now it is Europe’s banks that are in the crosshairs. Two days before Christmas, Deutsche Bank and Credit Suisse have agreed to settle with the US Department of Justice over the alleged mis-selling of mortgage-backed securities in the run-up […]
ISTANBUL — When a Turkish police officer assassinated Andrey G. Karlov, Russia’s ambassador to Turkey, on Monday, it felt for a moment as if the whole world shook. The killing took place at a time of global uncertainty and reminded some observers of the start of World War I. The truth, however, is that despite shaky relations between Russia and Turkey in recent years, the assassination is […]
India has one of the world’s most lopsided female participation rates in its labor force, an imbalance global chains want to change as they establish foothold in the world’s second-most populous nation. Here is a look at the numbers. (via WSJ)
The Mohammed bin Rashid Space Centre (MBRSC) and Dubai Municipality have signed an agreement to design and manufacture the first environmental nanometric satellite in the region. The satellite, DM SAT1, is a project of the Dubai Future Accelerators program and is designed to collect and analyze environmental data using space technology. DM SAT1 will provide data for monitoring sandstorms and other environment related activities, including aerosols and […]
By Tracy Rucinski | CHICAGO CHICAGO Caesars Entertainment Corp’s (CZR.O) bankrupt operating unit resolved a dispute with its lenders on Friday, paving the way for a consensual plan to push the casino group out of its $18 billion Chapter 11. In filings with the U.S. Bankruptcy Court in Chicago, bank lenders said they had reached an agreement over their recovery terms and were withdrawing a threat to […]
Region’s Largest Financial Advisor Observes “Troublingly Low” Penetration Rates across the Country Key Benefits Include Medical Emergency Coverage, as well as Compensation for Flight Delays and Loss of Personal Belongings 22 December 2016 Dubai, United Arab Emirates UAE holidaymakers are putting themselves at increased risk of facing serious financial repercussions by not taking measures to adequately cover themselves in the event of a travel emergency, experts […]
“The resolution that was passed by the U.N. yesterday is part of the swan song of the old world that is biased against Israel,” Mr. Netanyahu said at a Hanukkah candle-lighting ceremony honoring wounded soldiers and terrorism victims. “But, my friends, we are entering a new era and, as President-elect Trump said yesterday, that is going to happen a lot faster than people think.” Continue reading the […]
Australia’s cybersecurity capabilities and researchers will be showcased to global players in the United States in February, in a delegation sent to the RSA Conference in San Francisco led by Special Adviser to the Prime Minister on Cyber Security Alastair MacGibbon and recently appointed CEO of the Australian Cyber Security Growth Network Craig Davies. According to Nicola Watkinson, Austrade’s senior trade and investment commissioner for North America, […]
When you first meet Abeer Al Otaiba you wouldn’t guess she’s a mother of two, and the founder of the philanthropic fashion brand SemSem that’s going global. The glamorous Egyptian fashionista wears high-waisted red trousers with a matching red high-low top, and new-season Gucci heels with pink lip appliqués. Look further and you’ll see glimpses of Al Otaiba’s love of motherhood. Her wallet and phone case are […]
Mohammed Ahli: Our airports are gearing up to serve up to 146 million passengers by 2025 Via Dubai Security Supplement features Angela Gittens of ACI and Michael Herrero of IATA Dubai, December 22, 2016: Highness Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority (DCAA) and Chairman of Dubai Airports, said Dubai has successfully transformed innovation into a working culture in the government […]
Mijbel AlQattan appointed President of the society by the newly elected board, replacing outgoing President Rafik Hafez. Kuwait, 22 December 2016 CFA Society Kuwait, CFA Institute’s local association of investment professionals consisting of portfolio managers, financial analysts and investment advisors, has announced the appointment of its new board of directors. Mijbel AlQattan, previously the society’s Vice President, was appointed by the newly elected board of directors to […]
|By Arabian Post Staff| Dubai saw a 11 per cent surge in the total volume of traded goods in the first nine months of 2016, rising as high as 70.82 million tons of commodities. Imports had the lion’s share at AED 594 billion (46.81 million tons and 12% increase), while exports and re-exports accounted for AED 109 billion (11.84 million tons and 8% increase) and AED 249 […]
Real estate markets in the UAE witnessed contrasting trends in November with sales prices and rents up in Dubai but values falling in Abu Dhabi, according to a new report by Bayut.com. Property website Bayut said the real estate market in Dubai was buoyed last month by a spate of project launches, stirring up interest in the market but activity in Abu Dhabi was slow, resulting in […]
MOSCOW Rosneft’s (ROSN.MM) plans for next year allow it to be flexible with production volumes, Russia’s top oil producer said on Saturday, after Moscow clinched a deal with OPEC to cut production to bolster weak oil prices. State-controlled Rosneft, which accounts for over 40 percent of Russian oil production, said its board has looked into plans for 2017-2018. “The plan is formed on the basis of actual […]
A round up of some of 2016’s most significant corporate events and news stories. Smartphone sales © EPA A bright start to the year for Samsung Electronicswent up in smoke, after it took the unprecedented decision to axe its Galaxy Note 7 line, following a spate of safety issues that saw the smartphone banned from aircraft, writes Nic Fildes. The 2016 Galaxy Note iteration won substantial praise […]
The vote for Brexit will change the course of Britain’s history, Philip Hammond announced last month. The UK chancellor may be a strident advocate for a soft departure from the EU but he has also been keen to paint a positive picture of the country’s economy, saying the UK’s fundamental strengths will “ensure our future success”. Financial markets are sceptical. The economy may have confounded doom laden […]
Qatar Airways has marked its seventh anniversary in Melbourne, Australia, by announcing plans to introduce its superjumbo A380 aircraft from the end of June 2017 to meet rising passenger demand. The 517-seater A380 aircraft will increase Qatar Airways’ current daily capacity by 44 percent on this route to meet the growing travel and trade demand, the airline said in a statement. Qatar Airways Group CEO Akbar Al […]
By Rodrigo Campos | NEW YORK NEW YORK The year-end stocks rally on the heels of the election of Donald Trump as U.S. president was built on expectations of reduced regulations, big tax cuts and a large fiscal stimulus. Now signs are emerging from the Trump camp that harsher trade policies that could jeopardize the honeymoon are likely in the offing, and investors would be well advised […]
Last-minute trawls round malls or petrol-station flowers aside, it’s probably time to accept that it’s getting a tad late for thoughtful festive presents this year. But for car-idolising types who get the best gift of all this Christmas – cash, obviously – there are plenty of, err, wheely great gifts to splurge on from around the world. Innovative toys A few months ago, we reviewed the impressively […]
UNITED NATIONS: In a striking rupture with past practice, the United States allowed the UN Security Council on Friday to condemn Israeli settlements in the West Bank and east Jerusalem as a “flagrant violation” of international law. In doing so, the outgoing Obama administration brushed aside Donald Trump’s demands that the US exercise its veto and provided a climax to years of icy relations with Israel’s leadership.The […]
Porsche has won a key victory in its efforts to dismiss claims against the company for billions of euros of damages relating to its failed takeover of Volkswagen in 2008. Porsche Automobil Holding SE said on Friday that Germany’s federal court of justice, the country’s highest civil court, had dismissed a claim for €1.2bn brought by 19 hedge funds. When Porsche revealed in 2008 that it owned […]
“The boundaries of uncertainty have increased [for fixed-income markets],” says Dan Ivascyn, chief investment officer at Pimco, the bond specialist that invests more than $1.5tn. “Rates certainly can go higher.” What is clear for bond investors is that they face a true test of their convictions in 2017 after an end to 2016 that challenged the consensus of low inflation and rates that, at one point, drove […]
A recent want ad for a job at a professional services companies had this interesting description: Photo: Joe McKendrick “Robotic Process Automation Analyst: Key responsibilities include: work with business teams to simplify and improve operations by analyzing as-is processes and create end-to-end automation solution designs… Work with process owners/SMEs and technology teams to analyse and assess automation feasibility… Document business requirements, processes and work instructions…. Operate as […]
On April 7, 14 large blue letters quietly disappeared from the outer walls of an office building in an exclusive neighborhood in northern San Salvador. One by one, the letters came down from the blue and beige stucco walls, leaving behind faint traces of the name of the law firm that had been working there just days before: M-O-S-S-A-C-K-F-O-N-S-E-C-A. Employees of the El Salvador branch of Mossack […]
