Wall Street still exudes widespread optimism that 2017 will provide another year of solid if unspectacular economic growth and only gentle interest rate rises. With the S&P 500 up over 4.5 per cent for the year, here is a series of charts that will hearten investors of a more bearish persuasion. While there are good reasons why each chart should not be taken too seriously, together they […]
Abu Dhabi Fund for Development (ADFD) has announced a contribution of AED330 million ($89.8 million) to implement development projects and programmes in key sectors in Somalia, particularly infrastructure and transport. The funding underpins efforts to improve public services, create new job opportunities and ensure stability and social development, state news agency WAM reported on Wednesday. It said the contribution aims to help Somalia overcome the economic challenges […]
By Sarah White and Yann Le Guernigou | PARIS PARIS Hard-left presidential challenger Jean-Luc Melenchon and conservative Francois Fillon were neck-and-neck behind the frontrunners in an opinion poll on Thursday, as candidates made last-ditch appeals to undecided voters. Voters will cast their ballots on Sunday in the first round of what has transformed into the most unpredictable French election in living memory, with four candidates within reach […]
By Adam Jourdan | SHANGHAI SHANGHAI German sports apparel brand adidas AG (ADSGn.DE) expects its huge operating margin in China to shrink slightly in the long term, while its small U.S. margin grows markedly in the near term, its new chief executive officer said on Thursday. Kasper Rorsted, on his first visit to China since taking the helm in September, said adidas’ margin in Greater China of […]
By Syed Raza Hassan and Saad Sayeed | ISLAMABAD ISLAMABAD Pakistan’s Supreme Court on Thursday ruled there was insufficient evidence to order Prime Minister Nawaz Sharif’s removal from office over corruption allegations levelled by the opposition and ordered further investigations. A verdict to remove Sharif would have left his party in power but would, nevertheless, have sparked turmoil at a time when Pakistan is experiencing modest growth […]
Editor’s note: This article was previously published on Medium. The author is the executive director of LION Publishers, a national network of independent news sites. Margaret Sullivan is right to sound the alarm about what steep newspaper cuts are doing to local journalism across the country, but her April 16 Washington Post column misses the story of what is replacing, and has the potential to replace, the […]
BEIJING China has issued stricter regulations requiring officials to report personal information, including assets, to the ruling Communist Party, state media said, in the country’s latest effort to tackle corruption. China’s President Xi Jinping sees extravagance and corruption as an existential threat to the party, whose authority is in part predicated on its ability to spread the gains of China’s growth fairly among the Chinese people. His […]
In a lab deep within Tata Consultancy Services’ landscaped campus in the western Indian city of Pune, 16 recent graduates are experimenting with new technologies that are shaking up a flagship national industry. TCS, the largest of India’s powerful IT services companies, set up the lab 18 months ago to enable new starters to work on the “internet of things”, the field of connected machines and appliances that […]
By Pallavi Dewan and Nikhil Subba American Express Co’s (AXP.N) first-quarter profit fell less than expected as its card members spent more and the company expressed more confidence over its full-year results, amid fierce competition in the industry. AmEx’s shares rose 2.5 percent after the bell on Wednesday as the results and guidance indicated the company was starting to mitigate some of the impact of losing key […]
Qualcomm beat Wall Street’s sales and profit forecasts for its second quarter as the mobile chipmaker’s performance was boosted by the launch of new smartphones including Samsung’s Galaxy S8. However, the company on Wednesday warned of greater uncertainty in its outlook for the next quarter because of its legal battle with Apple, some of whose contract manufacturers have withheld about $1bn in royalty payments to Qualcomm in […]
19 April 2017 The Bank recorded a Net Profit of BD 14.74 million (US$ 39.20 million) for the first quarter of 2017 compared to BD 17.76 million (US$ 47.23 million) for the corresponding period of the previous year, a decrease of 17.0 percent. The Bank achieved an Operating Profit of BD 19.05 Million (US$ 50.66 Million) for the first quarter of 2017, an increase of 3.8 percent […]
One of the most important trends in the automobile world is making cars smarter. I’m not talking about autonomous cars, but rather connected features on new cars and retrofitting existing cars with digital intelligence. Two of the most popular add-ons for new cars are Apple’s CarPlay and Google’s Android Auto; many manufacturers—including GM, Mercedes, Honda, Hyundai, VW, and Volvo—offer both in new cars. […]
Planned Parenthood has been threatened repeatedly with defunding in several states since Trump became our 45th president. But has also, as a consequence, received a serious spike in donations (40 times its normal rate, according to the Guardian). The organization’s leaders are now looking to 500 startups’ seed program to help them capitalize on the recent surge and harness technology to help further the momentum. 500 will […]
April 19, 2017 by: Vinay Pande and Gerald Lucas The most prominent beneficiary of the so-called Trump trade has been equities, with total returns of 10.5 per cent from the S&P 500 and 10 per cent from the MSCI All-Country World Index since the US election. However, pinning a global bull market on one individual is dangerous. Several other drivers have supported it, making it even more […]
Emaar Malls, the shopping malls and retail business majority-owned by Emaar Properties, on Tuesday approved a proposal to distribute 10 percent of it share capital, equivalent to AED1.301 billion ($354 million), as a cash dividend to shareholders. Addressing shareholders, Mohamed Alabbar, chairman of Emaar Malls and Emaar Properties, said the success of Emaar Malls is led by the UAE’s robust growth and the vision of Sheikh Mohammed […]
|By Saifur Rahman| Intex Technologies Ltd, an Indian technology accessories manufacturer with an annual turnover of US$1 billion, is investing INR 25 billion that will push its annual turnover ten-fold to US$10 billion in 5 years, a senior official told The Arabian Post. India is currently the world’s second-largest telecommunications market and has registered strong growth in the past decade and half.The total mobile services market revenue in […]
The near-5 per cent advance in the $20tn benchmark S&P 500 this year has been reliant on the performance of only a few dozen stocks — with gains by the likes of Apple and Facebook accounting for more than 20 per cent of the index’s climb. Ten stocks in the index, including ecommerce behemoth Amazon, Google owner Alphabet as well as the more defensive cigarette maker Philip […]
Iceland’s finance minister has admitted it is untenable for the country to maintain its own freely floating currency, just days after it lifted capital controls imposed in the wake of its near financial collapse in 2008. Benedikt Johannesson told the Financial Times that the Nordic island of just 330,000 people would look at options to link Iceland’s krona to another currency, most likely the euro or pound. […]
Terrorism and declining oil prices affected the regional hospitality sector especially in Saudi Arabia, Turkey and Egypt, according to Mark Willis, Vice president Middle East and sub-Saharan Africa, Carlson Rezidor Hotel Group. Willis is however optimistic about the results of the Saudi economy during the first quarter of 2017 while stressing that the most difficult performance for their Radisson Blu hotels was in Turkey and Egypt. “We […]
The real estate sector in the emirate of Ras Al Khaimah expanded by 45 percent between 2011 and 2015, according to a study by the RAK Chamber of Commerce. The size of the sector increased from AED3.401 billion ($925 million) in 2011 to AED4.947 billion ($1.3 billion) in 2015, the study shows. Total annual growth of the real estate sector amounted to 15 percent per annum over […]
Investors are refusing to call time on expectations of a sustained recovery in the global economy, after propelling global markets to their best quarterly performance since 2013. Money managers say they are willing to look past rising political uncertainty in France and the US and bet on what they view as an acceleration in activity and synchronised economic advances across developed and emerging markets. Expectations of US fiscal stimulus […]
Do you know someone who has made an outstanding contribution to the development of the Internet? We are pleased to announce that candidate nominations for the 2017 Jonathan B. Postel Service Award are open. This annual award is presented to an individual or organization that has made outstanding contributions in service to data communications and places particular emphasis on those who have supported and enabled others. Nominations […]
Greek ministers and the country’s bailout monitors were on Tuesday trying to strike a deal on the pension and labour market reforms needed to unlock further financial aid. With the clock ticking down to more than €6bn in debt repayments that Athens must make in July, negotiators say an accord on the main elements of the policy package must be reached soon to stave off the risk […]
South Africa’s rand tumbled in late trading on Monday after a rating agency cut the country’s coveted investment grade status, leaving President Jacob Zuma’s decision to fire his finance minister responsible for wiping out almost all the currency’s gains for the year. The rand slid to R13.7 against the dollar, taking its drop in the past five days to almost 9 per cent. Having recorded a gain […]
