Why Megève Megève is old France at its classiest best – a magical village with a medieval heart and effortlessly chic atmosphere. It’s moneyed, certainly, but without the vulgarity you see in other glitzy resorts in the Alps. When you’re strolling through the main Place de l’Eglise, with its dazzling fairy lights, it’s hard not to sigh at the immaculate prettiness of it all. It was the […]
Tuesday 02.00 GMT Overview Stocks were putting in a mixed performance in Asia, while currencies fluctuated as markets braced for the impact of a speech by UK Prime Minister Theresa May laying out her administration’s Brexit blueprint. Hot topic The Japanese yen rallied as some traders initially sought havens, strengthening as much as 0.3 per cent before swinging back to be 0.1 per cent weaker at ¥114.26 […]
Asset price movements in the past few weeks have pointed both to the upside and a major risk for the global economy and markets under a Trump administration. Enthusiasm over higher US growth powering the global economy has been tempered at times by worries that certain elements of the president-elect’s “America First” approach could undermine longstanding trading relationships, opening up the risk of economic and financial disruptions. […]
“Dedication, that’s what you need, if you want to be a record breaker,” sang the TV entertainer Roy Castle on the long-running BBC programme dedicated to notable feats. London’s FTSE 100 has been on a dedicated record-breaking run all of its own, notching up an unprecedented 14 consecutive sessions of gains by the end of last week, a run which only ended on Monday, when the index […]
(UPDATED) Forced evacuation has been ordered in several flood- and landslide-prone barangays. Some parts of the city are in neck-deep water. Bobby Lagsa Published 2:15 AM, January 17, 2017 Updated 2:37 AM, January 17, 2017 STRANDED. Vehicles and commuters have been stranded in Cagayan de Oro since Monday night, January 16, after nonstop rains triggered flash floods across the city. Photo by Bobby Lagsa/Rappler CAGAYAN DE ORO, […]
OPEC probably won’t need to extend a deal it reached with other crude producers to cut output, given compliance with the reductions and the outlook for an increase in global demand, Saudi Energy Minister Khalid Al-Falih said. The re-balancing of the oil market should take place by the end of the first half of the year, Al-Falih told reporters during an energy event in the United Arab […]
By Nigel Stephenson | LONDON LONDON Investors sold sterling and stocks on Monday, seeking shelter in gold and the Japanese yen as uncertainty over Britain’s departure from the European Union and the policies of U.S. President-elect Donald Trump curbed appetite for risky assets. U.S. markets were closed for the Martin Luther King Day holiday, crimping market activity and potentially exacerbating price moves. The dollar .DXY rose, except […]
Saudi Arabia will adhere strictly to its commitment to cut output under the global agreement among oil producers, its energy minister said on Monday, expressing confidence that OPEC’s plan to prop up prices would work. Saudi Energy Minister Khalid al-Falih, speaking at an industry event in Abu Dhabi, also said he was encouraged by signs of commitments by other participants in the deal since it took effect […]
By Noah Barkin | DAVOS, Switzerland DAVOS, Switzerland A trade war between the United States and China and a strengthening dollar are among the biggest threats to a brightening global economic outlook, according to leading economists at the World Economic Forum in Davos. As political leaders, businessmen and bankers converge on the resort in the Swiss Alps this week, they can draw hope from a more benign […]
US companies have rushed to renegotiate their loans at the start of the year, taking advantage of strong investor demand for debt that is more insulated against an expected rise in interest rates. January’s re-pricing volume has already reached $41.6bn — the highest monthly volume since January 2013 with a further two weeks before the month ends, according to data from LCD, an offering of S&P Global […]
Al Hamra Real Estate Development has introduced new five year payment plans for units in Al Hamra Village. Prices for properties in the Ras Al Khaimah development start at AED 3,300 per month, payable over five years. According to the developer, this compares to AED 55,000 for the annual rent of a studio apartment in Dubai’s Jumeirah Lake Towers; AED 50,000 in Dubai Marina; and AED 70,000 […]
SYDNEY Plans to provide government support to keep open a 30-year-old aluminum smelter in Australia owned by Alcoa (AA.N) have made “progress”, parties involved in talks said on Monday without giving details. The government is offering financial support to help supply the Portland smelter in southern Australia with sufficient power in the wake of a blackout late last year that left it running at only one-third of […]
Seldom have such small chips carried such a heavy load. China’s fledgling semiconductor industry, after a messy birth, now finds itself in the crosshairs of conflicting political goals in Beijing and Washington. Chips are a key plank of China’s industrial plans, attracting a massive $150bn government subsidy. This reflects national angst over reliance on overseas markets — it spends more on importing semiconductors than oil — and […]
Monday 02.10 GMT Overview Asian markets were mostly lower despite bank-led gains for Wall Street on Friday but the spotlight was on the British pound as it tumbled to a four-month low amid heightened expectations of a “hard Brexit”. Hot topic Sterling was down 1.3 per cent at $1.2027 after falling as low as $1.1986 in early Asian trading, ahead of a speech on Tuesday in which […]
DAVOS, Switzerland – The global economy is in better shape than it’s been in years. Stock markets are booming, oil prices are on the rise again and the risks of a rapid economic slowdown in China, a major source of concern a year ago, have eased. And yet, as political leaders, CEOs and top bankers make their annual trek up the Swiss Alps to the World Economic […]
BANGKOK Thailand faces more hardship from unseasonable floods that have killed 40 people in its south, with more rain expected in the major rubber-producing and tourist region in coming days, a top disaster agency official said on Sunday. Persistent heavy rain well into what should be the dry season has triggered floods across the south, cutting road and rail links, threatening crops and affecting about 1.6 million […]
Before Donald Trump accused them of “getting away with murder”, the mood among pharmaceutical executives was buoyant as they gathered in San Francisco for the industry’s biggest annual gathering last week. Not even the torrential rain could damp their spirits as they darted between meetings with investors and presentations in the historic Westin St Francis hotel, the venue for the JPMorgan healthcare conference. The bull case was […]
There is no guarantee that all will go according to plan, of course. Israel struggled for years to develop regulations to manage its newfound wealth. The international energy firms that Israel is now courting have other options in an evolving global market. And the politics of a new era, as President-elect Donald J. Trump encourages assertive Israeli action in Jerusalem and the West Bank, could kindle fresh […]
14 January 2017 Abu Dhabi – ADNOC Distribution has announced the new retail price of unsubsidised LPG cylinders for the month of January 2017. As per the announcement that is set on the 10th of every month, the new retail price is as follows: AED53 per 25lb up from the earlier marked retail price of AED49, and AED106 per 50lb from the earlier marked retail price of AED98. Saeed Mubarak Al Rashdi, […]
“Get Palestyled” – that is the motto of a UAE label best known for its handbags decorated with Arabic calligraphy and colourful hand embroidery that is produced by women in refugee camps in Jordan. Palestyle, previously stocked at stores including Bloomingale’s Dubai and S*uce, has had a quiet few years while undergoing restructuring and rebranding. Now, however, it is back on track for the new year, with […]
A border tax in the US could upend the export-based economic model that has brought prosperity to millions of people in Asia, say analysts, as the region wakes up to reforms proposed by Republicans in Congress. Although most attention is still focused on whether president-elect Donald Trump will slap tariffs on China or target companies that move production offshore, proposals for a US tax regime that penalises […]
Qatar is regaining its appetite for deals. In the past two months alone, the world’s richest country per capita invested in Turkey’s biggest poultry producer, Russian oil giant Rosneft PJSC, and U.K. gas company National Grid Plc. The investments have been made through the Qatar Investment Authority, created in 2005 to handle the country’s windfall from liquefied natural gas sales, of which it is the world’s biggest exporter. […]
Revolutions are only relevant until the next revolution comes along. Over the past decade, the smartphone revolution has fundamentally upended daily life. Walk through any public space and you will find people of all backgrounds transfixed by pocket-sized, rectangular obelisks. These little wonder slabs magically connect us to the rest of humanity and are personal windows into the digital ghost dimension that flows beneath civilization’s surface. […]
There is a reason Rolls-Royce Motors appointed its youngest-ever chief executive in 2010. “I don’t want to say the brand would die, but the brand would never have had the success it has had over the last couple of years if we hadn’t rejuvenated it,” CEO Torsten Müller-Ötvös boasts. He is probably right. Until a couple of years ago, the English automobile brand was predominantly known as […]
