The Associated Press is laying off two-dozen employees in its global news department, the cooperative told Poynter Friday. While AP makes every effort to cut costs elsewhere before affecting jobs, AP is laying off 25 staffers in the global News department this week. Like so many media companies, especially in the news business, AP must reduce expenses in order to continue to provide its objective, indispensable news […]
PARIS: US Secretary of State John Kerry and leading diplomats are trying to find solutions for Syria’s desperate opposition, as Syrian government forces squeeze rebels out of Aleppo after a devastating blitz.With tens of thousands of civilians fleeing, Kerry said he is working to ensure their safety and to save Aleppo “from being absolutely, completely destroyed.”Kerry and European and Arab diplomats are meeting members of Syria’s opposition […]
For a quick study in market blindness, look at how an obscure US fund reacts to events in a country where markets do not even exist. Nearly two years ago US president Barack Obama and Cuban president Raúl Castro jointly announced their intent to rejuvenate the diplomatic and commercial relationship between their two countries. Until that day, the Cuba closed-end fund had historically traded beneath its net […]
In early 2009, roughly at the time when this blog was launched which coincided with the start of the greatest monetary experiment of all time, we warned that there are two ways it will end: either in hyperinflation, or a deflationary supernova, the failure of currency and, eventually, barter. Now, almost 8 years later, some of the world’s top hedge funds are in agreement, and they are […]
Strong competition will continue in Saudi Arabia’s construction sector due to extensive cuts in capital expenditure, forcing continued downward pressure on contractors margins, according to a new report. Property consultancy Colliers International said the decline in construction costs in the Gulf kingdom is set to ease, but “tough” market conditions will prevail. Construction costs have plummeted since the oil-price crash began in 2014, which led to a […]
This is part of a series on the global rise of exchange traded funds The morning after the US election Steven Bregman, a New York-based hedge fund manager, began to notice something strange going on in a corner of the stock market. His screen showed that shares of gold mining companies were being sold indiscriminately, falling by double digits, even though the price of gold itself had […]
The Dubai Land Department is cleaning out unscrupulous real estate agents and greedy landlords in a bid to polish the emirate’s reputation as a transparent property market attractive to investors across the world. In an exclusive interview with Arabian Business, Ali Abdulla Al Ali, director of the Dubai Land Department’s (DLD) real estate licensing division, says several new initiatives introduced this year are already showing benefits. Al […]
Global investors are turning their backs on French government bonds, reflecting alarm over the capacity for next year’s presidential election to deliver another shock to the eurozone and financial markets. A pronounced drop in French sovereign bond prices suggests they are being treated less like those of a core European economy and more like securities issued by the region’s least creditworthy countries. The selling has pushed the […]
Yet Mr. McLaren suggested that the full extent of the cheating might never be known. “It is impossible to know just how deep and how far back this conspiracy goes,” he said on Friday, calling the “immutable facts” of his report clear but far from comprehensive. “For years, international sports competitions have unknowingly been hijacked by the Russians.” Continue reading the main story Mr. McLaren concluded last […]
By Steve Holland | GRAND RAPIDS, Mich. GRAND RAPIDS, Mich. Exxon Mobil Corp Chief Executive Officer Rex Tillerson emerged on Friday as President-elect Donald Trump’s leading candidate for U.S. secretary of state, a senior transition official said. Trump met Tillerson on Tuesday and may talk to him again over the weekend, the official said. Trump appears to be in the final days of deliberations over his top […]
Dubai, UAE 9th December 2016 Held under the Patronage Sheikh Hamdan Bin Rashid Al Maktoum Award for Medical Sciences, His Excellency Humaid Mohammed Obaid Al Qatami, and Chairman of the board of the Dubai Health Authority inaugurated the 3rd edition of the Emirates Society of the Emergency Medicine Scientific Conference 2016 (ESEM 2016). ESEM 2016 is an annual congress organised by Emirates Society of Emergency Medicine with […]
DUBAI // Bollywood legend Om Puri and former English footballer Vinnie Jones may not sound like the most likely pairing for a new Dubai-produced movie, but that’s what recently launched UAE production company Nugen Productions is offering to the world. At a barely publicised event on Thursday, the producer of the new film, Solar Eclipse, Pankaj Sehgal and cast members, including Puri and Grammy-winning composer Rob Diggy […]
“When we took the land in Dubailand and talked about our plans to launch a sustainable project, many thought we were just bluffing. Today, when people come and see our project they are simply amazed,” says Faris Saeed, sitting in his temporary office in one of the solar-powered villas in The Sustainable City. Ironically, the new city is the result of a failed development called The Lagoons, […]
Opec’s first supply cut in eight years looks set to earn the 13-member cartel an extra $5bn a month in revenues. The 15 per cent rally in oil prices since last Wednesday’s agreement looks like an impressive return from a marginal cut in output, even if the deal was months in the making. Beyond the headline price reaction the market has thrown Opec a curve ball. Oil […]
Saudi Arabia has told its US and European customers it will reduce oil deliveries from January, as Russia said it was confident non-OPEC producers would fully join OPEC’s output limits on Saturday in the first such move since 2001. Saudi Arabia told the customers about lower supplies in line with the output reduction agreed by the Organization of the Petroleum Exporting Countries last week, according to a […]
From spray-on skin for burns victims, the electronic pacemaker, the Gardasil and Cervarix cancer vaccines, or finding the medical application of penicillin, Australia has a reputation of birthing a number of medical innovations that have changed the global healthcare industry. In 1967, Sydney-based Dr Graeme Clark began researching the possibilities of an electronic implantable hearing device, and by 1978, the first ever Cochlear implant was performed. Cochlear […]
By David Lawder | WASHINGTON WASHINGTON President-elect Donald Trump is stacking his trade transition team with veterans of the U.S. steel industry’s battles with China, signaling a potentially more aggressive approach to U.S. complaints of unfair Chinese subsidies for its exports and barriers to imports. Led by Wilbur Ross, a billionaire steel investor and Trump’s nominee for commerce secretary, Dan DiMicco, the former CEO of steelmaker Nucor […]
An upcoming deadline for a major derivatives market reform is “unrealistic” and authorities should consider whether the asset managers and banks most affected are ready, a top US regulator has warned. Christopher Giancarlo, the sole Republican of the three commissioners at the Commodity Futures Trading Commission, on Friday called on counterparts to prevent new rules due on March 1 from disrupting the global swaps market. His remarks, […]
Pulp Fiction and Star Wars star Samuel L Jackson, who picked up his lifetime achievement award at the Dubai International Film Festival on Wednesday, is renowned for speaking honestly on issues from race relations to gender equality and American politics, so when The National sat down with him Friday morning, we couldn’t avoid checking whether his yearning for Diff was heartfelt or the result of an unexpected […]
The European Central Bank’s supervisory arm has rejected a request from Rome to delay a private sector-led rescue for Monte dei Paschi di Siena, leaving Italy little option but to inject state funds and impose losses on creditors. MPS asked the ECB for an extra five weeks to pull off a last-ditch €5bn equity injection for the lender, which emerged as the weakest in the European bank […]
Oman Air has announced that it intends to make its first foray into China on Friday, as part of plans to expand its global network and fleet. The national carrier said in a statement that it plans to start operating flights from its hub in Muscat to Guangzhou, China, from December 9. The airline said the launch of the new route is in response to “significant customer […]
By Luiza Ilie | BUCHAREST BUCHAREST When Romania’s leftist government collapsed a year ago amid outrage over a deadly nightclub fire, many people spied an opportunity for sweeping change in a country plagued by corruption and inept public services. But after the upswelling of public anger over the deaths of 64 people in the Club Colectiv, which lacked emergency exits and fire safety permits, the clamour for […]
Microsoft now officially owns LinkedIn, a popular social networking platform geared toward employers and professionals. The multi-billion acquisition first made headlines in June, and the European Commission has given the acquisition a go-ahead earlier this week, joining the approval of other regulators around the globe, including those in the United States, Canada, Brazil, and South Africa. “This deal will allow us to keep growing, investing in and innovating […]
Investors made the biggest shift in more than three years into funds that help provide protection against rising interest rates ahead of next week’s meeting of Federal Reserve policymakers who are expected to increase overnight borrowing costs for the first time this year. Funds invested in leveraged loans attracted $1.7bn of inflows in the week to December 7 — the greatest weekly haul since 2013 — figures […]
