YOKOHAMA, Japan Nissan Motor Co (7201.T) Chief Executive Carlos Ghosn said on Friday he expected the Japanese automaker to post record sales in 2017, which would be a strong year for the auto industry despite volatility in currency and commodity markets. Ghosn also said he was confident that U.S. trade policy under President-elect Donald Trump would continue to promote strong ties with Mexico, where Nissan operates production […]
Investors have piled into Russian equity and bond funds over the past week as oil prices have rallied and President-elect Donald Trump named an oil executive with close ties to Vladimir Putin as US secretary of state. Russian stock funds recorded inflows of $451m in the week to December 14, the biggest weekly haul since the first quarter of 2011, according to EPFR. Mutual funds and exchange […]
Latest asset of Abu Dhabi’s cruise tourism sector set to change face of ‘winter sun’ tourism in Abu Dhabi Abu Dhabi-UAE: December 15, 2016 Under the patronage of His Highness Sheikh Hamdan Bin Zayed Al Nahyan, Ruler’s Representative in the Western Region, Abu Dhabi Ports today has officially opened Sir Bani Yas Cruise Beach, offering cruise ship passengers a new beach destination with unmatched tourism experiences. […]
Friday 02:10 GMT Overview The US dollar has climbed to a 14-year high in the wake of the Federal Reserve’s decision this week to lift interest rates, putting pressure on Asian currencies and prompting caution among traders of regional stocks. Hot topic The dollar has been one of the biggest stories of the December quarter thanks to a more robust outlook for US inflation and growth. That […]
It has been touted as one of the most exciting Dubai mega-projects of recent years and has now come to fruition. The $735m Dubai Water Canal — carved out of land between Business Bay and Jumeirah — opened to the public last month, creating a water-bound ‘mini-Manhattan’ that flows from Downtown Dubai to the ocean. The 3.2km-long canal is the final segment of the Dubai Creek extension, […]
Doha, Qatar December 15, 2016 Muntajat (Qatar Chemical and Petrochemical Marketing and Distribution Company Q.J.S.C.) signed its first international agency marketing agreement with Total. The signing ceremony took place at the K Trade Fair 2016 in Dusseldorf, Germany and was attended by senior representatives from Muntajat and Total. Total produces a range of polymers including polyethylene, polypropylene, and polystyrene. With Polymers business unit offices based in Brussels, […]
What’s the story behind your business? Our story is a typical start-up story. We began 15 years ago with six people, and at the time we operated out of our chairman’s extra bedroom in Jumeirah. We started the agency with the philosophy of changing the rules of advertising across the region. At the time, people thought we were a bit crazy – they said everything had already […]
Adobe delivered strong fourth quarter financial results Thursday as the company continues to push an aggressive cloud strategy toward record-setting revenue growth. The creative software giant reported Q4 net income of $399.6 million, or 80 cents a share. Non-GAAP earnings in the quarter were 90 cents a share on revenue of $1.61 billion, up 23 percent year over year. Wall Street was looking for earnings of 86 […]
WASHINGTON/BEIJING China’s plan to punish a U.S. automaker accused of price-fixing is a sign of how Beijing could retaliate if President-elect Donald Trump upends decades of relations between the two nations. Trump’s assertion that the United States need not be bound by the policy that Taiwan is part of “one China” would erode a bedrock of U.S.-China ties that has underpinned the vast increase in trade and […]
The US dollar marched higher on Thursday, reaching its strongest level against the euro for more than a decade, after the US Federal Reserve signalled a more aggressive outlook for interest rate policy. Europe’s single currency was among the hardest hit, falling through the $1.04 level to trade at its lowest level since early 2003. Driving the dollar’s strength is a growing divergence between benchmark interest rates […]
“If they’ve managed to sleep through the night, bonds traders in the US will have quite a shock when they check their screens in the morning,” Mohamed El-Erian, chief economic adviser at Allianz, tweeted early on Thursday. Wall Street bond traders and investors will have turned in on Wednesday night already jolted by the Federal Reserve, which under Janet Yellen’s leadership has become synonymous with caution on […]
By: PTI | Lahore | Published:December 15, 2016 3:38 pm Pakistani Prime Minister Nawaz Sharif. In a relief to Pakistan Prime Minister Nawaz Sharif, the Lahore High Court has dismissed a petition seeking his disqualification on the charges of corruption amid a row over the Panama Papers leak that names his family as having misappropriated properties in the UK. LHC Justice Shams Mahmood Mirza yesterday dismissed the […]
By Natalie Schachar | MEXICO CITY MEXICO CITY Some Mexican banks are lowering credit card spending limits and raising consumer lending standards in the face of an economic slowdown, rising interest rates and the U.S. election victory of Donald Trump. After a period of robust overall credit growth, Mexican banks are cutting credit card exposure to counter a potential rise in consumer defaults and the risks of […]
Thursday 11:00 GMT Overview Stock markets are trading cautiously as Treasury yields hit fresh highs after the Federal Reserve’s decision to raise interest rates for only the second time since the financial crisis. The prospect of the US central bank perhaps having to tighten policy faster than expected to reflect any additional boost to growth from president-elect Trump’s fiscal plans is lifting the dollar to a 14-year […]
By Howard Schneider and Lindsay Dunsmuir | WASHINGTON WASHINGTON The U.S. Federal Reserve raised interest rates on Wednesday and signaled a faster pace of increases in 2017 as central bankers adapted to the incoming Trump administration’s promises of tax cuts, spending and deregulation. The increase in the federal funds rate to a range of between 0.50 percent and 0.75 percent was widely expected. But the prospect of […]
With over 150 Saudi suppliers now, GE aims to double the number by 2020, creating a dynamic Saudi supply chain ecosystem that serves global markets GE’s investments in localized manufacturing helps build Saudi entrepreneurship, create new jobs for Saudis and build the local SME sector Dubai, United Arab Emirates; December 15, 2016 GE Oil & Gas today won the ‘Best in Supplier Development’ honor at the In […]
Commercial banks in Qatar will see their profitability fall under continued pressure in the coming years as deposit growth slows and interest rates drop, new research shows. A report by BMI Research, part of Fitch Group, states: “In the first 10 months of 2016, the average interest rate on government securities stood at 2.65 percent, well below the average of 5.96 percent that banks demand on private […]
Long-term borrowing costs for lower-quality US investment-grade companies are nearing 5 per cent — the highest level in nine months — as investors anticipate rising inflation and higher growth, reversing from the six-decade low touched earlier this year. The average yield on the closely followed Moody’s Baa index has climbed to 4.9 per cent, the highest since March when the US credit market slowly recovered from a […]
· Acquisition to be funded by a Placing of up to 9.99% of the issued share capital of the Company and through new debt facilities 14 December 2016 UAE – NMC Health plc. (NMC), the leading integrated healthcare provider operating across the United Arab Emirates, is pleased to announce the proposed acquisition of Al Zahra Hospital in Sharjah from Gulf Medical Projects Company (“GMPC”) for AED 2,058 million […]
Telstra is addressing the skills shortage in the technology sector through the launch of their Business Technology Services (BTS) academy, which will see a handful of new recruits trained as security or network specialists by the telco. With 29 participants six weeks into their three-year academy course, Telstra BTS executive director Christopher Smith told ZDNet the initiative has so far seen the recruits undergo intensive training and […]
Saudi Arabia’s 2017 state budget is likely to show Riyadh has shrunk a huge deficit caused by cheap oil faster than expected, which may let it spend more to bolster a shaky economy This year was one of the most painful for the Saudi economy in decades. Growth slowed sharply and speculators bet against the Saudi currency as the government fought to curb a deficit that totalled […]
December 14, 2016 by: Robin Harding in Tokyo Optimism at Japanese companies is on the rise for the first time in 18 months after Donald Trump’s election as US president breathed new life into the country’s drive to escape deflation. The Bank of Japan’s closely watched tankan index for large manufacturers rose from +6 to +10 in December, the first increase since the second quarter of 2015, […]
13 December 2016 Riyadh – Over 1,400 digital leaders gathered at the ArabNet Riyadh conference to discuss the latest in digital innovation and entrepreneurship, following the launch of Vision 2030 and the National Transformation Program (NTP). The event was held under the patronage of the General Authority for Small and Medium Enterprises (SMEA), and hosted by King Abdulaziz City of Science and Technology (KACST) and the Badir […]
When the bill was considered by the full committee in December 2012, Schumer, who eventually voted in favor of the bill, nevertheless echoed concerns of the tech companies, saying it “still needs a lot of work to assuage the concerns of tech innovators.” Sen. Grassley, who also voted for the measure, said he had the same worries, saying the bill needed to address industry concerns that it […]
