By Yashaswini Swamynathan The S&P 500 and the Dow Jones Industrial Average were slightly lower on Monday as gains in financials shares – ahead of a widely expected interest rate hike – were weighed down by losses in drug stocks. The Federal Open Market Committee, the central bank’s policy-setting board, is expected to lift interest rates by a quarter point to 0.75 percent-1.00 percent after a two-day […]
Abraaj Group Art Prize In October last year, Rana Begum won the US$100,000 (Dh367,250) Abraaj Group Art Prize. The title is awarded each year to aid an artist realise a proposed project, which is later unveiled at Art Dubai. Begum, a Bangladeshi-born, London-raised artist, is interested in the geometry of a city. Her brightly coloured, angular metal sculptures and installations look at the unexpected architecture of a […]
Why Tavira? At the eastern end of southern Portugal’s perma-sunny Algarve region, Tavira has none of the brashness and concrete overdose that afflicts many of the resort towns in the centre. With a proud heritage dating back through Islamic Al-Andalus, the Roman era and Phoenician traders, Tavira has an authenticity that lends historical weight to its good looks. And boy does it have good looks. Built on […]
In textbook fashion, the Federal Reserve has prepared traders and investors for a 25 basis points increase in policy interest rates this week. When it comes to lasting effects on markets, however, the Fed is likely to deliver more than the third rise in 10 years. It will also signal an important evolution in its policy approach aiming for a beautiful rate normalisation. Facing an implied probability […]
By Tim Kelly and Nobuhiro Kubo | TOKYO TOKYO Japan plans to dispatch its largest warship on a three-month tour through the South China Sea beginning in May, three sources said, in its biggest show of naval force in the region since World War Two. China claims almost all the disputed waters and its growing military presence has fuelled concern in Japan and the West, with the […]
Volkswagen Volkswagen has already taken a battering to its reputation due to the emissions scandal and is now tarnished further as the automaker has pleaded guilty to criminal charges as part of a settlement with the US Department of Justice (DoJ). On Friday, the automaker pleaded guilty in a Detroit federal court to felonies in connection with the 2015 emissions scandal. For years, the company sold a’clean […]
March 13, 2017 by: Hudson Lockett in Hong Kong and Michael Hunter in London Monday 07:15 GMT What you need to know US West Texas Intermediate crude is at $48.33 a barrel, having fallen under $48 for the first time in more than three months. The pound is holding above $1.22 as speculation mounts that the UK government is poised to trigger Article 50 of the Lisbon […]
Stock photo The price of Bitcoin plummeted after the US Securities and Exchange Commission (SEC) denied a request to bring Bitcoin to the financial market, highlighting how the value of the virtual currency can change within minutes. In February, the virtual currency’s value reached an all-time high of over $1,300 with investors taking a punt on rumors SEC would allow the first Bitcoin ETF. An exchange-traded fund […]
Allu Arjun takes a seat in Ray’s Bar at Jumeirah Etihad Towers, sets his bag by his side and slides back. The camera moves in as he prepares for his scene, a confrontation between the film’s hero, played by Arjun, and the villain, who is trying to steal his girl. It’s the 11th day of filming for the Telugu film stars of Duvvada Jagannadham, the latest in a series […]
By Angela Moon | NEW YORK NEW YORK For some millennial investors, loyalty to one of their favorite apps matters more than financial details in the case of Snap Inc. The stock of Snapchat’s parent company has been on a roller-coaster ride since its market debut last week, surging more than 70 percent from the initial public offering price in the first two days of trading and […]
Here are the main questions facing investors and markets as a new trading week beckons. What will the Federal Reserve say?Sometimes words matter more than action. A quarter percentage point tightening is all but baked in after the February jobs report, when 235,000 jobs were created — eclipsing market expectations. Of greater importance is whether Fed officials indicate a willingness for a faster rate of tightening in […]
Saudi King Salman’s stop in the Maldives on his month-long tour of Asia brings into focus how this tiny archipelago – best known for high-end tourism and an existential battle against climate change – has emerged as a key player in a regional struggle for influence. Both Riyadh and Beijing are currying favour with the strategically located 820km-long chain of Indian Ocean atolls, in efforts analysts believe […]
Google’s self-driving unit, now called Waymo, is going after Uber, and it’s making it clear. It’s stepping up its legal attack on the popular ride-hailing company, most recently by asking a court to block Uber from leveraging technology, which it allegedly stole from Waymo to get ahead in the race for driverless cars. Waymo’s Uber Lawsuit The two, both Silicon Valley companies, are duking it out over […]
Authored by Federico Pieraccini via The Strategic Culture Foundation, While the world continues to decipher, or digest, the new Trump presidency, important changes are afoot within the grand strategic triangle that lies between Russia, Iran and China Away from the current chaos in the United States, major developments are progressing, with Iran, Russia and China coordinating on a series of significant moves crucial for the future of […]
11 March 2017 Abu Dhabi – Yas Viceroy Abu Dhabi serves as an icon of luxury which redefines Yas Island. Its stunning interiors, 499 rooms and suites, 11 dining and lounge areas and wellness facilities are a sure match to the taste of guests looking for an extraordinary experience. Its local and international success during the past years has pushed Viceroy Hotels & Resorts to further develop […]
Alphabet Inc’s (GOOGL.O) self-driving car unit Waymo on Friday added a new patent claim to its intellectual property lawsuit against Uber Technologies Inc and requested a preliminary injunction to stop the ride-sharing service from using what it says is proprietary information, a court filing showed. The two Silicon Valley companies are fighting over technology that is seen as part of the foundation of the future of transportation, […]
While CNBC and the financial media continue to rave about stocks being near their all-time highs, beneath the surface of the market we are seeing signs of big trouble. Consider the following… As Michael Batnick noted last week, the S&P 500 as a whole is just 1.6% off its all time highs, but the average stock is down 9.6% from its 52-week high. Put another way, while […]
Good morning. Here’s our morning roundup of all the media news you need to know. Want to get this briefing in your inbox every morning? Subscribe here. British reporter Iona Craig went to the al Ghayil, the Yemeni town stormed by Navy SEALs in the raid that President Trump says was a great success even as it claimed the life of the operator whose widow was honored […]
By Trevor Hunnicutt and Gertrude Chavez-Dreyfuss | NEW YORK NEW YORK The U.S. Securities and Exchange Commission on Friday denied a request to list what would have been the first U.S. exchange-traded fund built to track bitcoin, the digital currency. Investors Cameron and Tyler Winklevoss have been trying for more than three years to convince the SEC to let it bring the Bitcoin ETF to market. CBOE […]
Alphabet’s Waymo is requesting for a preliminary injunction to keep Uber from pushing through with its self-driving car plans and thus stop the ride-hailing service from using allegedly stolen secrets. This move follows the lawsuit Waymo filed back in February against Otto, a self-driving truck startup, and Uber, the startup’s parent company. The case argues that the defending party has stolen more than 14,000 confidential documents, including info […]
By Joel Schectman and Mark Hosenball | WASHINGTON WASHINGTON U.S. Attorney General Jeff Sessions abruptly asked the remaining 46 chief federal prosecutors left over from the Obama administration to resign on Friday, including Manhattan U.S. Attorney Preet Bharara, who had been asked to stay on in November by then President-elect Donald Trump. Although U.S. attorneys are political appointees, and the request from Trump’s Justice Department is part […]
Hopes for a new way to trade bitcoin were dealt a blow on Friday when US regulators rejected an application that would have let the Winklevoss twins launch an exchange traded fund tracking the digital currency. The Securities and Exchange Commission said it would not allow Bats Global Markets to list shares of the Winklevoss Bitcoin Trust based on concerns that “significant markets for bitcoin are unregulated”. […]
The two most powerful men in the world oil market appeared together in Houston on Tuesday to tell the world that their strategy was on track. In December, Khalid al-Falih and Alexander Novak, the energy ministers of Saudi Arabia and Russia, orchestrated a 24-nation plan to cut oil output in the first half of 2017. This week they spoke to reporters in a hotel conference room at the […]
When Rex Tillerson visits Japan and South Korea next week, the new US secretary of state will not escape the whispers back home: the former ExxonMobil chief executive has been all but invisible since arriving in Washington. In his first weeks as the top US diplomat, the Texan has been conspicuously low-profile. His silence has fuelled concerns that President Donald Trump intends to downgrade diplomacy — and […]
