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By David Morgan | WASHINGTON WASHINGTON Big Oil could be in a unique position to protect its interests against a Republican proposal to tax imports, given that President-elect Donald Trump’s cabinet is studded with oil champions sensitive to the risk of higher gasoline prices. Trump’s emerging leadership includes Exxon Mobil Corp Chief Executive Officer Rex Tillerson as secretary of state, former Texas Governor Rick Perry as energy […]

LONDON Upbeat data from China helped lift global markets as 2017 trading started in earnest on Tuesday, with the dollar notching its biggest gain in three weeks, oil on a tear and European stocks setting a one-year high. Base metal prices and bond yields also advanced, as the better-than-expected factory growth in China dovetailed with higher inflation data in Europe to give investors a solid start to […]

Tesla is probably bracing itself for a deluge of last-minute customers after it announced that those who will purchase the company’s vehicles after Jan. 15 are no longer going to enjoy unlimited free access to its charging facilities. The new policy, when it was announced in November, states a Jan. 1 deadline. There is no reason given so far, but the two-week reprieve has given some consumers who […]

SEOUL Oil prices rose in the first trading hours of 2017, buoyed by hopes that a deal between OPEC and non-OPEC members to cut production, which kicked in on Sunday, will be effective in draining the global supply glut. International Brent crude oil prices LCOc1 were trading up 31 cents, or 0.55 percent, at $57.13 a barrel at 0203 GMT on Tuesday – close to last year’s […]

Venezuela has issued $5bn in new bonds to state-run Banco de Venezuela in a private placement, as it seeks cash for imports of food and medicine as the country struggles with critical shortages of basic goods. France-based Global Emerging Markets Group said it advised on structuring and executing the deal. The operation was underwritten by China’s Haitong Securities, according to two bond traders who had seen preliminary […]

Doha, 02 January 2017 The global publishing, research and consultancy firm Oxford Business Group (OBG) has appointed a new team to oversee its latest project in Qatar. Izabela Kruk takes on the role of country director, while Simon Gaillard will be the Group’s editorial manager for The Report: Qatar 2017. Kruk moves into her new post from Nigeria, where she contributed to the Group’s most recent report […]

LONDON Euro zone stocks opened 2017 by climbing to their highest in more than a year on Monday after data showed manufacturers in the currency bloc ramped up activity at the fastest pace in more than five years. With all of Asia’s major markets closed for the New Year holiday – along with Britain and Switzerland in Europe – trade was thin, which could cause some volatility. […]

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Airbusand Boeingare bracing themselves for a challenging 2017 after struggling to reach sales targets in the past year. Later this month the two companies will reveal the final tally for last year’s orders and deliveries, but both look set to fall short of their goal of achieving a book to bill of about one — essentially replacing almost every aircraft delivery with a new order. This would […]

The first wedding season of the new year is under way, running from now until March. The bridal gowns, floral decorations and catering for impending winter weddings will be influenced by the flora and fauna of the season. The same will be true of 2017’s second major wedding period, between July and the end of September. Last month in Dubai, concierge company Quintessentially launched a one-stop-shop wedding […]

Welcome to a new year and the pressing market issues facing investors as they look to put money to work and navigate 2017. Geopolitical surprises upended expectations last year and few predicted that 2016 would end with a global bull market in equities, while bond yields remain relatively low. Will strategists be any better at forecasting this time around? Here are the big questions that will preoccupy […]

By Sankalp Phartiyal | MUMBAI MUMBAI Smartphone component maker Wistron Corp, which counts Apple Inc among its customers, has applied for permission to expand its plant in the Indian city of Bengaluru, a high-ranking regional government official said on Monday. The Taiwanese contract manufacturer has also requested that its application be fast-tracked, the official at the state government of Karnataka in southern India told Reuters. The move […]

Can you still call something a “food craze” if it has been around since the Stone Age? Bone broth, which is all the rage in Hollywood and is catching on in the UAE, is essentially the same homemade soup your grandma – and generations before her – might have made from marrow bones, with assorted vegetables and herbs, although this latest variation simmers on the hob for […]

Dubai, UAE, 29 December 2016 Azizi Developments – a leading UAE-based real estate developer with global reach into international markets – met with the Dubai Land Department today, following their recent announcement of 50 new projects for the coming year. The developer discussed Dubai’s economic situation, the current market conditions and predictions for the upcoming year as well as regulatory changes. The Chairman of Dubai Land Department, […]

A 2017 state budget plan released by Oman’s government on Sunday projected a smaller deficit but maintained tight curbs on spending because of low oil prices, which are hurting state revenues. Government spending this year is projected to total 11.7 billion rials ($30.4 billion) and revenues 8.7 billion rials, which would result in a deficit of 3 billion rials. That compares with the government’s original 2016 budget […]

The Central Bank of Oman will be forced to follow the US Fed’s tightening cycle over the coming months, despite low inflation and rising liquidity pressures at home, according to BMI Research. It said in a research noted that combined with low commodity prices, the strength of the US dollar, and weaker economic activity, Oman will adopt a more hawkish monetary policy to lead to average consumer […]

ABUJA Nigeria’s government will seek a lasting peace settlement with militants in the oil-producing southern Niger Delta region in 2017, President Muhammadu Buhari said in a New Year’s message on Saturday. Attacks on oil facilities in Nigeria’s energy hub, coupled with low oil prices, helped push Africa’s biggest economy into recession – the first in 25 years – in the second quarter. Crude oil sales account for […]

A new year is upon us and with it, a new season of art events and exhibitions is about to start. This month marks the opening of a host of exhibitions at Alserkal Avenue and across Dubai. Highlights include Asad Faulwell at Lawrie Shabibi from January 9, who continues his series on Algerian women who fought during the war for independence from French occupation, and their largely […]

Microsoft’s ongoing move to reposition itself as a cloud-first/mobile-first vendor continued in 2016. But readers of “All About Microsoft” here on ZDNet remained most interested in Windows 10’s rollout and futures this past year. Credit: ZDNet While it’s Microsoft’s commercial cloud story that many investors and analysts are watching most closely, Microsoft’s moves as the Windows company are what had — and will likely continue to have […]

Globalization, the path that the world economy has largely followed for decades, took some hefty blows in 2016. The election of Donald Trump as U.S. president and Britain’s decision to leave the European Union have raised questions over the future of tariff-free trade and companies’ freedom to move production to lower-cost countries. Borders are back in vogue. Economic nationalism is paying political dividends. “We […]

BEIJING China’s economy is on a steady growth path as 2016 ends, supported by a housing boom and billions in government investment, but the mood of policymakers is more cautious than celebratory as they face “complexity” in the new year. Controlling risks has been a constant refrain in recent months as the focus of policymakers switches to taming asset bubbles and checking unbalanced growth stemming from efforts […]

Social media firm Snap Inc may be the highest profile tech IPO planned for 2017, with the potential to raise billions. But more than a dozen expected stock offerings of relatively obscure software firms targeting business customers – little-known names such as Apttus, Tintri and Okta – could be just as important in thawing a long-frozen IPO market, according to investment bankers and advisers who work on […]

UAE-based Azizi Developments on Thursday said it was to press on with plans to launch 50 new developments in 2017, which will comprise residential, commercial and retail space, following talks with Dubai Land Department. The developer said in a statement that it discussed Dubai’s economic situation, the current market conditions and predictions for the upcoming year as well as regulatory changes. Sheikh Mohammed Bin Khalifa Bin Saeed […]

Getty Images/iStockphoto With 2016 drawing to a close, here is a look at some of the things — tech, as well as a number of industry metrics — that you should be keeping an eye on over the coming year. CES thoughts Before I begin, I want to mention the first big tech shindig of 2017, which will be CES. I pay very little attention to CES […]

Oil prices were on track for their biggest annual gain since 2009 after the OPEC grouping and other major producers agreed to cut crude output to reduce a global supply overhang that has depressed prices for two years. US benchmark West Texas Intermediate (WTI) crude futures slipped 12 cents to $53.62 a barrel by 1400 GMT on Friday, while Brent front-month March crude futures were down 19 […]

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