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Russian President Vladmir Putin played a crucial role in helping OPEC rivals Iran and Saudi Arabia set aside differences to forge the cartel’s first deal with non-OPEC Russia in 15 years. Interventions ahead of Wednesday’s OPEC meeting came at key moments from Putin, Saudi Deputy Crown Prince Mohammed bin Salman and Iran’s Supreme Leader Ayatollah Ali Khamenei and President Hassan Rouhani, OPEC and non-OPEC sources said. Putin’s […]

Tax compliance gets easier for companies, but new data highlights post-filing challenges across the world JOHANNESBURG, South Africa, December 1, 2016/  Economies around the world continue to make progress in simplifying and reducing the burden of tax compliance on business, according to the latest edition of Paying Taxes 2017, a report by the World Bank Group and PwC (www.PWC.com ). Released today, the report finds that the Total […]

Egypt’s largest listed lender CIB sold a near-72 percent stake in its investment banking arm CI Capital to Egyptian and Gulf investors on Thursday, as part of a move to shed subsidiaries and focus on core actives. Commercial International Bank’s announcement of the deal came a day after it confirmed it was in talks to sell a majority stake in CI Capital, which banking sources say is […]

When it comes to very large numbers, it can be hard to get the right perspective. If you had to count it, a €40bn pile of cash would be somewhat daunting. Place it next to to the Italian national debt, however, and the pile becomes a pimple. The number matters because it was the amount the government proposed using to assist troubled financial institutions earlier this year. […]

Saudi Arabia’s aviation agency was attacked last month by an aggressive computer virus intended to disrupt high-profile government targets, officials and experts said on Thursday. The attack, which experts say emanated from outside the country, used a version of Shamoon, malware used to target the Saudi energy sector four years ago. Similar kinds of data-clearing software were used in 2014 against the Las Vegas Sands and Sony. […]

Probability matrices in MMSBM. Credit: Antonia Godoy-Lorite et al. PNAS doi:10.1073/pnas.1606316113 The internet is rife with recommendation systems, suggesting movies you should watch or people you should date. These systems are tuned to match people with items, based on the assumption that similar people buy similar things and have similar preferences. In other words, an algorithm predicts which items you will like based only on your, and […]

ABU DHABI // Tickets for British band Coldplay’s New Year’s Eve show in Abu Dhabi have turned up online at inflated prices, just hours after the concert sold out in record time. Fans hoping to see the four-piece play live in the capital are angry touts were able to buy batches of tickets to resell for profit. General admission tickets, at Dh395 for the du Arena gig, […]

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Now the hard work begins. The supply agreement agreed by Opec on Wednesday sent oil prices soaring above $50 a barrel but there are many reasons for caution, not least in making sure no one cheats and producers from outside the cartel also contribute. While the deal looks straightforward, it is anything but and the devil is in the detail. The conference documents released on Wednesday evening […]

The Congress party’s official Twitter account was apparently hacked Thursday morning, a day after its vice president Rahul Gandhi’s feed erupted with abusive tweets following a similar breach. “Congress can kiss our ass” one tweet from @INCIndia read. Another promised a “full dump” of Congress emails in what it described would be a “Christmas special.” On Wednesday night, a series of tweets from @OfficeofRG ridiculed Mr. Gandhi and […]

By Astrid Zweynert LONDON (Thomson Reuters Foundation) – In the backyards of rural Cambodia, a tiny weapon is being deployed to fight dengue fever, the world’s fastest spreading tropical disease that causes debilitating flu-like symptoms and can develop into a deadly hemorrhagic fever. More than 3,000 households in Kampong Cham province, which has one of the highest dengue rates in Cambodia, have been given colourful guppy fish […]

The month that stunned investors with Donald Trump’s US election victory was a record-breaker in markets. The prospect of big tax cuts and fiscal spending from the incoming administration has stirred the market’s animal spirits, driving Wall Street into record territory, while bond prices have been hit hard by expectations of higher inflation. Here is how November played out in numbers: 13 — The dollar index — […]

The Indian Parliament’s canteen–where Prime Minister Narendra Modi was photographed digging into a vegetarian lunch last year–now boasts a card machine to help lawmakers pay for their meals in the midst of a cash crunch. The move comes after parliamentarians said they faced problems settling their bills in the canteen following the government’s action last month to replace large currency bills to curb corruption. The canteen serves […]

In this Feb. 25, 2014 file photo, theSamsung Galaxy S5 is displayed at the Mobile World Congress in Barcelona, Spain, Tuesday, Feb. 25, 2014. Leading tech companies are increasingly nudging consumers to use their own fingers, faces and eyes as digital key to unlock phones and other gadgets. But there are downsides: Hackers could still steal your fingerprint, or its digital representation. And police may have broader […]

Nitrogen is everywhere: even in the air there is four times as much of it as oxygen. However, it is reluctant to form chemical bonds. Chemists predict, however, that contrary to the rules of typical chemistry, in appropriately selected conditions there may be a nitrogen that nobody has ever seen. (via WSJ)

The opposite of a bank run, it turns out, isn’t a good thing either. In the case of India, it is a total banking mess. India’s big bang demonetization program, aimed at rooting out “dirty” money from the economy, has forced $80 billion worth of old rupee notes into bank vaults. At first, this seemed like a boon for banks, who were suddenly flush with cheap funding. […]

Pursglove would soon learn, however, that navigating this offshore archipelago is not easy. In any given year, trillions of dollars sit safely in the offshore financial world, effectively stateless, protected by legions of well-compensated defenders and a tangle of laws deliberately designed to impede creditors and tax collectors. Even the United States government finds it challenging: A special Internal Revenue Service division known as the “wealth squad,” […]

By Saikat Chatterjee | HONG KONG HONG KONG China’s factories notched their strongest growth in activity in two years and Japanese firms’ order books rose in November, masking concern about the protectionist leanings of U.S. President-elect Donald Trump and an OPEC-induced oil price rally. Factory surveys produced stronger purchasing manager index (PMI) numbers in China, Taiwan and Vietnam, and while activity in Japan’s factories was still growing […]

It’s a new world: Donald Trump’s world. As 2017 hits, we’re going to see the US government’s attitude towards a range of technologies change, whether it be about a lighter touch on regulation or a harsher look at companies that import heavily from China. I hate making stock predictions. I’m going to try to stick to what I think you should expect and do, as […]

Saudi Arabia is boosting the firepower of its sovereign wealth fund to accelerate deal-making and lessen the country’s dependence on oil. The Public Investment Fund is receiving a 100 billion-riyal ($27 billion) transfer from official reserves, according to a statement Wednesday on the SPA official news agency, increasing its existing assets by about 17 percent. The injection will help the fund diversify investments and revenues, it said. The […]

EDM pop duo The Chainsmokers have been setting fire to the streaming charts all year long, with four consecutive hit singles, including the longest running number one single of the year, “Closer.” The group released another new single several weeks ago entitled “Setting Fires,” which hasn’t exactly burned up the charts since — but why? Banner Year For The Chainsmokers It’s fair to say the year 2016 […]

Thursday 06:00 GMT Overview Markets across Asia saw a day of solid gains as oil continued to trade higher following Opec’s decision to cut output for the first time since the financial crisis and as Japanese stocks benefited from recent weakness in the yen. European bourses are expected to open little changed, with spreadbetters predicting the UK’s FTSE 100 will add 2 points to 6,785 and Germany’s […]

DUBAI // The UAE flag was raised after a minute’s silence in tribute to the country’s heroes, and Obaid Al Qasbi’s heart swelled with patriotism and pride. Mr Al Qasbi, 70, an Emirati from Dubai, watched along with hundreds of others as Sheikha Lubna Al Qasimi, Minister of State for Tolerance, hoisted the country’s flag at the Commemoration Day ceremony at Zayed University. “This day is one […]

Somewhere between Earth’s creation and where we are today, scientists have demonstrated that some early life forms existed just fine without any oxygen. The 2.52 billion-year-old sulfur-oxidizing bacteria are exceptionally large, spherical-shaped, smooth-walled microscopic structures much larger than most modern bacteria, but similar to some modern single-celled organisms that live in deepwater sulfur-rich ocean settings today, where even now there are almost no traces of oxygen. Source

CAIRO: Sudanese President Omar Bashir, who is wanted by the International Criminal Court for war crimes in Darfur, voiced his support on Tuesday for US President-elect Donald Trump, saying dealing with him will be “much easier.”Trump “focuses on the interests of the American citizen, as opposed to those who talk about democracy, human rights and transparency,” Bashir said in an interview published by Emirati daily Al-Khaleej.“I am […]

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