Friday 06:00 GMT Overview Asian markets were broadly positive on Friday as South Korea’s president was formally impeached, while Treasuries remained under pressure ahead of the US jobs report that could fuel expectations the Federal Reserve will raise interest rates next week. European bourses are expected to open higher, with spreadbetters predicting the UK’s FTSE 100 will add 20 points to 7,335 and Germany’s Dax to climb […]
By Jonathan Stempel | NEW YORK NEW YORK Former New Jersey Governor Jon Corzine defended his big bet on European sovereign debt that was a major factor in the collapse of his company MF Global Holdings Ltd, and said the auditor of the futures and commodities brokerage should have flagged any accounting problems. Corzine, also a former New Jersey senator and Goldman Sachs Group Inc (GS.N) co-chairman, […]
WhatsApp, the Facebook-owned messaging service used by more than 1 billion people worldwide, is testing a system that would let businesses talk directly to WhatsApp users for the first time, according to communications about the project seen by Reuters. The tests, which are being conducted with a handful of companies that are part of the Y Combinator startup incubator, are an important signal of how WhatsApp plans […]
While many have blamed today’s spike in yields for the broader underperformance of the REIT sector, which sent the Bloomberg North American REIT index down 1.4%, its biggest one-day drop since December in a widespread selloff across all property sectors with 194 of the 214 stocks in the index lower today, it’s more than just the jump in rates that is slamming the rate-sensitive sector. While longs […]
by March 7, 2017, 11:46 AM EST Royal Bank of Canada closed accounts of about 40 clients and bolstered tax compliance following a review of offshore accounts tied to last year’s leak of records from a Panama law firm. “The review is completed,” J-F Courville, chief operating officer of Royal Bank’s wealth-management unit, said in an interview. “We found out we have a business with good controls, […]
Photo A banner calling for the boycott, divestment and sanctioning of Israel hanging from the Manhattan Bridge in New York during a protest against Israel’s military campaign in Gaza in 2014. Credit Michael Appleton for The New York Times Israel’s Parliament has struck back at the international boycott movement against the country and its settlements in the West Bank by passing a law barring entry to foreigners […]
By Jonathan Stempel | NEW YORK NEW YORK PricewaterhouseCoopers LLP [PWC.UL] pinned the blame for MF Global Holdings Ltd’s collapse squarely on the commodity brokerage and its former chief executive, Jon Corzine, at the start on Tuesday of a trial over whether the auditor should pay about $3 billion for its alleged negligence. Jurors are considering a demand by MF Global’s bankruptcy plan administrator that PwC be […]
The Supreme Court on Tuesday asked the Centre to file the six reports of various agencies in a sealed cover within four weeks in connection with the Panama papers leak case. Lawyer Manohar Lal Sharma had filed a plea in the apex court seeking a thorough investigation into the case. The apex court said after going through the reports it would see whether […]
New Delhi [India], Mar. 7 (ANI): The Supreme Court on Tuesday will hear the petition seeking a detailed court monitored investigation against the Indian offshore account holders and stock market regulators, whose names had been exposed in the Panama papers leak case. The petition was filed by Supreme Court advocate Manohar Lal Sharma, seeking an apex court-monitored probe into the matter. Many Indian industrialists and celebrities have […]
Via Nicholas Eberstadt of CommentaryMagazine.com, On the morning of November 9, 2016, America’s elite—its talking and deciding classes—woke up to a country they did not know. To most privileged and well-educated Americans, especially those living in its bicoastal bastions, the election of Donald Trump had been a thing almost impossible even to imagine. What sort of country would go and elect someone like Trump as president? Certainly not […]
Bait Al Kandora, the Dubai-based menswear clothing designer, has announced an agreement with HBS Investment to sell it a 25 percent stake, thus becoming the second largest shareholder. The agreement comes after Bait Al Kandora opened four branches in the city and plans to expand further, a statement said. HBS Investment is supported by Al Shamsi Holdings which was established in 2000, and focuses on fashion retail […]
Plot twists, accusations and 25,000 pages of evidence — a snapshot of the case that will determine Nawaz Sharif’s fate. Panama Papers leaked; Sharif family under spotlight — Feica/Dawn. The International Consortium of Investigative Journalists (ICIJ) makes 11.5 million secret documents available to the public for the very first time. The documents, coming from Panamanian law firm Mossack Fonseca, contain confidential attorney-client information for more than 214,488 […]
KARACHI: The Panama Papers — a huge leak of documents detailing the alleged secret offshore holdings of global elite — were released in April 2016. The leak made headlines all-over the world, but its impact was probably most keenly felt in Iceland. Just two days after the leak appeared, Iceland’s prime minister had to resign from his office over protests by the people. Thousands of people had […]
April 3, 2016 Panama Papers leaked; Sharif family under spotlight The International Consortium of Investigative Journalists made nearly 11.5 million secret documents public. The documents contained confidential attorney-client information for more than 214,488 offshore entities, with the source of these leaks being a Panamanian financial law firm, Mossack Fonseca. Eight offshore companies were reported to have links with the family of Prime Minister Nawaz Sharif and his […]
By John Ruwitch | SHANGHAI SHANGHAI The fortunes of the richest 100 members of China’s parliament and its advisory body – all dollar billionaires – grew about 64 percent in the four years since Xi Jinping rose to power, according to data from an organisation tracking wealth in China. Xi has overseen a crackdown on corruption and decadence, and made the fight against poverty a top priority […]
/By Arabian Post Staff/ The success of DIFC and DMCC has inspired a US-based group to recreate the model in the western hemisphere. The C-MCC Development Group LLC, a US-based development group, announced that it will establish the C-MCC Worldwide Free Trade Zone on Curacao island, patterned after the successful Dubai Multi Commodities Centre (DMCC) and the Dubai International Financial Centre (DIFC) located in the United Arab […]
T Rowe Price’s flagship small companies fund has revealed annualised returns of nearly 35 per cent from its private investments, rebutting critics who argue that mutual funds should eschew riskier, unlisted companies. With more companies delaying stock exchange listings due to the abundance of venture capital and onerous requirements of being a public company, asset managers have begun to invest more aggressively in private groups such as Uber and […]
By Ben Stupples The chairman of the EU’s Panama Papers inquiry has slammed the U.K. Treasury’s refusal to meet with investigators, raising concern over Britain’s commitment to the high-level investigation. It was “most disappointing and regrettable that no one at the political level at HM Treasury was able or willing to meet” during the trip to London last week from the European Parliament’s Panama Papers inquiry committee, […]
In recent years the idea that no person or fund can consistently outperform the wider stock market by skill alone has been fashionable. Emboldened by traditional investment houses haemorrhaging market share to automated passive funds, the once-maligned advocates of the efficient market hypothesis have revised their mantra: you can’t beat the market, so buy an exchange traded fund instead. Outsiders listening in to this debate may conclude […]
BEIRUT The Syrian army and its allies made a sudden advance on Saturday and Sunday into areas held by Islamic State in northwest Syria, a war monitor said, as the jihadist group retreated after losing the city of al-Bab to Turkey-backed rebels on Thursday. The eastwards advance in an area south of al-Bab has extended Syrian army control across 14 villages and brought it within 25km (15 […]
25 February 2017 MARC has affirmed its AAA(bg) rating on Boustead Holdings Berhad’s (Boustead) RM1.0 billion Bank-Guaranteed Medium-Term Notes (BG MTN) programme with a stable outlook. The rating reflects the credit strength of the syndicated bank guarantee facility provided by OCBC Bank (Malaysia) Berhad (OCBC Malaysia), Public Bank Berhad (Public Bank), Malayan Banking Berhad (Maybank) and The Bank of East Asia (BEA) Labuan Branch, all of which carry financial institution ratings […]
Hyderabad: The Panama Papers are back here to haunt city industrialists. Following directions issued by the Centre, the Enforcement Directorate has begun a probe into 11 companies named in the Panama Papers, the global media investigation into alleged tax evasions which has brought 415 Indians under the scanner of investigating agencies. Sources said that the probe was initiated under the Foreign Exchange Management Act. A top ED […]
As with the worlds of haute couture and prêt-à-porter in fashion, France’s small-cap companies depend vitally on the success of the main Paris bourse. Yet as the country braces itself for the presidential election, and as US and other international investors start reducing their French holdings, a flight from the small-caps to the larger, more liquid French companies might be expected. But the opposite has actually been […]
Oman developer Muriya has announced the expansion of its Salalah Beach resort, with the addition of 84 extra keys. The additional rooms have been added to the Fanar Hotel & Residences, taking the total number of rooms at the Salalah Beach development to close to 800, the company said in a statement. The company said the expansion is part of its plans to transform Salalah into the […]
