By Dave Graham | MEXICO CITY MEXICO CITY Donald Trump’s combative style has buffeted Mexico’s president for months, but deeply unpopular Enrique Pena Nieto may end up thanking the new U.S. president for prompting offended Mexicans to rally behind their leader. From billionaire business magnate Carlos Slim to political opponents, there has been a groundswell of support for Pena Nieto, who has cut a lonely figure in […]
Toshiba on Friday announced that it’s spinning off part of its flash memory business and will sell a stake in the new business to offset major cost overruns from its US nuclear business. Toshiba plans to split off the memory business (including the SSD business, but excluding the image sensor business) by March 31. The company has yet to decide which assets and liabilities will be split […]
The weak economic environment will continue to weigh on the financial profiles of banks in GCC countries in 2017 and 2018, according to S&P Global Ratings. In a new report, the ratings agency said it believes the three key risks are a difficult operating environment, a higher cost of risk, and lower liquidity. However, it added that most GCC banks have built sufficient capital buffers to remain […]
Agreement allows healthcare organisations registered within the DHCA to operate inside the DIFC Partnership is in line with government’s wellbeing initiatives to broaden healthcare provision and access across the Emirate Move will continue to increase the international attractiveness and competitiveness of the DIFC community Dubai-UAE: 27 January 2017 Dubai International Financial Centre (DIFC) Authority, the entity overseeing the largest financial centre in the Middle East, Africa and […]
By Lucia Mutikani | WASHINGTON WASHINGTON U.S. economic growth slowed more than expected in the fourth quarter as a plunge in shipments of soybeans weighed on exports, but steady consumer spending and rising business investment suggested the economy would continue to expand. Gross domestic product increased at a 1.9 percent annual rate, the Commerce Department said on Friday in its first estimate of fourth-quarter GDP. That was […]
Donald Trump’s first week as US president has re-energised Wall Street bulls while sharpening concern about the risk of higher inflation and trade protectionism. The sense of fatigue that hung over much of January has been replaced by renewed enthusiasm for equities, as investors sent the S&P 500 to fresh highs and the Dow Jones Industrial Average finally broke above the 20,000 threshold. As the billionaire took […]
New remote sensing maps of the forest canopy in Peru identify new regions for conservation effort. Scientists used airborne laser-guided imaging spectroscopy, to identify preservation targets by undertaking a new approach to study global ecology — one that links a forest’s variety of species to the strategies for survival and growth employed by canopy trees and other plants. (via WSJ)
The landscape of public transport is changing across the world. Not long ago, the only option for people who did not have their own car was to queue for a paper ticket and squeeze into a sardine-can bus or train. Today, the new normal is to download a ‘smart’ app and book a point-to-point ride for an ever-diminishing cost. Ride-hailing apps such as Uber and Careem are […]
BERLIN Germany’s population grew by some 600,000 last year to reach a record high of 82.8 million people due to the number of migrants who have arrived in the country, the Federal Statistics office said on Friday. In a preliminary estimate for 2016, the statistics office said the population had eclipsed the previous record high of 82.5 million recorded at the end of 2002, even though the […]
By Vikram Subhedar | LONDON LONDON The dollar extended its recovery against a basket of other currencies on Friday, while banks dragged European shares slightly lower following underwhelming results from Swiss major UBS. The two-day recovery comes after the dollar suffered a 4 percent drop in the three weeks from Jan. 3 reflecting doubts about how U.S. President Donald Trump’s policies will play out for the currency, […]
Friday 08:25 GMT Overview The US dollar is in the ascendancy as the currency once again benefits from hopes for a stronger US economy — optimism that also has helped push Wall Street to record levels. European bourses are mixed after a holiday-thinned Asian session. Commodities are muddled, with oil firmer but gold on the back foot. Hot topic The US dollar is in focus as it […]
Sitting in his spacious office in Doha’s West Bay, free from the entourage of assistants usually attached to CEOs of large, government-backed organisations, Rashid Bin Ali Al Mansoori appears relaxed and unhurried. He even responds, “How much time would you like?” when asked to confirm the length of our meeting. Al Mansoori, who has served as CEO of Qatar Stock Exchange (QSE) since 2012, is frank about […]
By Joseph Campbell | BEIJING BEIJING Tougher law enforcement has reduced the number of environmental offenders in Beijing in recent years, but more companies need to adapt to the emissions standards in China’s capital, its environmental inspection squad says. Graphic on air pollution in Beijing tmsnrt.rs/2hVMPCb Beijing has been on the frontlines of a “war against pollution” declared by Premier Li Keqiang in 2014, as part of […]
Dubai, January 26, 2017 UAE Konica Minolta Business Solutions Middle East, held its annual Middle East Distributor Conference recently, at the Dusit Thani Hotel in Dubai. More than eleven distributors from across the Middle East were present at the event. With a theme of “Driving Smarter Workflows”, the one-day long conference featured informational presentation, educational discussions, future strategy, and demonstrations of Konica Minolta hardware, software, and managed […]
January 26, 2017 by: Adam Samson and Mamta Badkar in New York The Dow Jones industrial and transportation averages on Thursday both closed at new highs in a bullish signal for one of Wall Street’s oldest investment theories. The two US equity benchmarks, which date back to the 19th century, have not recorded highs one after another since December, after which the duo began to diverge as the Trump […]
If only a portion of Saudi Arabia’s National Transformation Programme is implemented, there will be dramatic change, one of the kingdom’s most influential lawyers assures. “If we can cover 50 percent of what is the aspiration in the Vision 2030, the kingdom will be doing much better,” the Saudi country director of international law firm White & Case, Doug Peel, says. “My view is that it’s a […]
The Dow Jones Industrial Average stayed firmly above 20,000 on Thursday, after breaching the milestone a day earlier, while losses in tech stocks weighed on the S&P 500 and the Nasdaq Composite indexes. The S&P technology index’s .SPLRCT 0.47 fall led the decliners, weighed down by Qualcomm (QCOM.O) and Alphabet (GOOGL.O). Qualcomm fell 5.1 percent to $54.04 after the chipmaker reported a lower-than-expected rise in quarterly revenue. […]
The UK was the fastest growing economy in the G7 last year and is not yet showing any signs of the slowdown that many economists predicted would follow the vote to leave the EU in June. The economy grew by 0.6 per cent in the fourth quarter of 2016, according to a first estimate from the Office for National Statistics. Growth for the year as a whole […]
Najib wants three ministries to boost cooperation for growth of national commodity industry Prime Minister Datuk Seri Najib Razak speaking during the monthly gathering of the Ministry of Finance attended by civil servants from various departments under the ministry in Putrajaya, January 26, 2017. — Bernama picKUALA LUMPUR, Jan 26 — Prime Minister Datuk Seri Najib Razak wants three ministries related to smallholders and commodities to boost […]
Consolidated Activity Highlights as at end-December 2016: USD 20.8 billion in Assets USD 17.1 billion in Deposits USD 5.2 billion in Loans Advertisement USD 2.1 billion in Total Equity USD 165 million in Net Profit Byblos Bank Headquarters, 26 January 2017 Byblos Bank overall results for 2016 were satisfactory given the difficult economic and financial conditions in Lebanon and the region. Lower oil prices and revenues in several countries […]
|By Matein Khalid| The election of a Manhattan property developer and (failed) casino owner as President of the United State has not been positive for most American real estate investment trusts (REIT’s). The sharp rise in US interest rates since the election and the Federal Reserve’s vigilance against inflation risk hits this classic “bond proxy” sector, with its reliance on leverage to boost investor returns. In addition, […]
|By Arabian Post Staff| UAE telecom revenue reached Dh31.9 billion in 2015, according to the country’s Telecommunication Regulatory Authority’s (TRA). Mobile revenue decreased 8.57 per cent to Dh23.34 billion in 2015 from Dh25.53 billion in 2014. UAE residents spent 31.49 billion minutes using mobile phones in 2015, up from 28.70 billion minutes in 2014. Mobile phone subscriber base reached 17.94 million in the UAE while fixed telephone […]
If protectionism is about to be unleashed by Donald Trump on America’s closest trading partners, foreign exchange traders are acknowledging the threat in a funny old way. On Wednesday, when Mr Trump issued an executive order to build a wall on the Mexican border, the peso rallied more than 2 per cent. Since slumping to a record low of 22.03 pesos two weeks ago, the currency has […]
Communications giant Edelman on Wednesday announced the appointment of a former senior executive of the UK Prime Minister’s Office to a key role in the Middle East, based in Dubai. Robin Gordon-Farleigh has been hired as regional director for government strategies for the Middle East and will take up the role in March. Most recently he was the news planner in the UK Prime Minister’s Office where […]
