By Caroline Valetkevitch | NEW YORK NEW YORK U.S. stocks rose on Friday after a solid jobs report pointed to strength in the domestic economy and supported expectations the Federal Reserve will raise interest rates next week. Indexes ended lower for the week, however, with the S&P 500 and Nasdaq breaking a six-week streak of gains. Government data showed 235,000 jobs were added in the public and […]
Your daily guide to community and cultural activities across the Emirates for March 11, 2017, including performances, festivals, art exhibitions, film creenings, health and fitness events, talks, classes, workshops and family fun. Aarti Jhurani rounds up 10 things to do today in the UAE. Want to see your event listed here? Email us with the details and contact information at [email protected] newslide Abu Dhabi Sporting event Attend […]
By Lucia Mutikani | WASHINGTON WASHINGTON U.S. employers hired workers at a robust pace in February, beating expectations, and wages grinded higher, which could give the Federal Reserve the green light to raise interest rates next week despite slowing economic growth. Nonfarm payrolls increased by 235,000 jobs last month as the construction sector recorded its largest gain in nearly 10 years due to unseasonably warm weather, the […]
OTTAWA U.S. Homeland Security Secretary John Kelly on Friday met Canadian officials to discuss an influx of asylum-seekers crossing into Canada from the United States that is putting pressure on Prime Minister Justin Trudeau. Emergency responders and the Royal Canadian Mounted Police are struggling to respond to people defying wintry conditions to cross the undefended border near Emerson, Manitoba. So far several hundred asylum seekers, mainly from […]
Dubai, 10 March 2017 Dubai Investment Development Agency (Dubai FDI), an agency of the Department of Economic Development (DED) in Dubai, along with Dubai Exports, the export promotion agency of DED, will go on a two-week tour of the US on the 11th of March 2017 as part of strengthening the emirate’s engagement with major economies to reinvigorate global trade flows and foreign investment. The mission, which […]
By Kentaro Hamada and Makiko Yamazaki | TOKYO TOKYO The Japanese government, fretting over the future of Toshiba Corp’s flagship memory chips unit, is prepared to block a sale to bidders it deems a risk to national security, sources said, a stance that gives U.S. suitors a major advantage. The government would use Japan’s foreign exchange and foreign trade laws to control the auction if need be, […]
The UAE leads the Middle Eastern wellness tourism market, with an average of 1.7 million wellness trips generating $2.7 billion annually, according to new research. The country accounts for 14 percent of the MENA spa market, said Colliers Experiential Travel Series in a report which added that Morocco, Tunisia and Jordan were also prominent players in the regional market. It said wellness trips in the UAE have […]
By Shinichi Saoshiro | TOKYO TOKYO Asian stocks edged up and the dollar rose to 1-1/2-month highs versus the yen on Friday, ahead of the closely-watched U.S. non-farm payrolls report due later in the day. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.2 percent, taking cues from a modest bounce in Wall Street overnight. Japan’s Nikkei climbed more than 1 percent on the back of […]
Go green with envy with this week’s pick of fashion and beauty trends. newslide Trailblazing blazers For dapper men who like to be the life of the party, this one’s for you. Billionaire, a brand that’s part of Philipp Plein, has released a range of sharp, tailored blazers in jewel-toned shades, with jazzy, embroidered motifs. • Available at www.billionairecouture.com; from Dh7,510 newslide Killer kicks Trade in your […]
The cost of shorting shares of Snap has fallen sharply as bets against the owner of the messaging app slowed and the share price rallied. Snap’s stock has rebounded in recent sessions after selling off earlier in the week as several analysts’ reports expressed scepticism about the group’s valuation, which had surged above $30bn in the initial euphoria following its high-profile listing last week. At midday in […]
Oil prices were under intensifying pressure on Thursday, with the US West Texas Intermediate benchmark dipping below $49 a barrel for the first time since late November. The falls came after oil prices fell the most in more than a year over the previous session when US crude inventories climbed for a ninth straight week to a record high. Renewed concerns about a supply glut sent ripples […]
By Toby Sterling | AMSTERDAM AMSTERDAM Dutch paints and coatings maker Akzo Nobel NV (AKZO.AS) rejected a 21 billion euro ($22 billion) bid from larger U.S. rival PPG Industries Inc (PPG.N) on Thursday, saying instead it wanted to “unlock value” by spinning off its chemicals business. PPG’s unsolicited offer comes just days before an election where the vulnerability of the biggest Dutch companies to foreign takeover has […]
The tour to the city included a special preview on the first ever complete model of the Sustainable City to be showcased at the Future Cities Show 2017 Dubai, 9 March 2017: The UAE Minister of Infrastructure Development, His Excellency Dr. Abdullah bin Mohammed Belhaif Al Nuaimi visited ‘The Sustainable City’ – the region’s first sustainable and integrated project and the first residential project in Dubai that produces clean energy, […]
European leaders moved on Thursday to isolate Poland as prime minister Beata Szydlo insisted she would press ahead with her campaign to oust Donald Tusk, the country’s former premier, as head of the European Council. Government leaders from across the EU lined up in support of Mr Tusk as they arrived for a Brussels summit at which they will press to give the European Council president a […]
Thursday 14:30 GMT Overview The euro is firmer and Bund yields are trundling higher with Treasuries after the European Central Bank stood pat on interest rates and indicated it was not looking to ease policy further. Oil prices tried to rally but have resumed their sell-off, putting energy stocks under pressure and weighing on equity benchmarks. Hot topic (1) After a period when politicians seemed to rule […]
By Jibran Ahmad | Peshawar, Pakistan Peshawar, Pakistan Pakistan has indefinitely closed two border crossings with Afghanistan after opening them for two days to let through Afghans with visas, officials said on Thursday. The official border crossings were abruptly ordered closed last month after a series of attacks Pakistan blames on militants sheltered in Afghanistan, heightening tension between the neighbours. But Pakistan temporarily reopened the crossings on […]
By Jessica DiNapoli and Makiko Yamazaki | NEW YORK/TOKYO NEW YORK/TOKYO U.S. nuclear firm Westinghouse Electric Co LLC has hired bankruptcy attorneys, in a sign that owner Toshiba Corp (6502.T) is more seriously weighing a Chapter 11 filing as an option to help it rein in a multibillion dollar financial maelstrom. People familiar with the matter said the nuclear engineering company had brought in law firm Weil […]
On Tuesday Republicans initialized the first step in rolling back the Federal Communications Commission’s internet privacy rules, with 25 U.S. senators introducing a new resolution that would cause their reversal, and even forbid the commission from passing anything similar in the future. Introduced last year, the privacy rules were an addendum to the net neutrality order, which required the FCC to handle enforcement of privacy protection form […]
Oil prices were back under pressure on Thursday, with the West Texas Intermediate benchmark falling under $50 for the first time since December. The falls came after oil prices fell the most in more than a year over the previous session when US crude inventories climbed for the ninth straight week to a record high. Renewed concerns about a supply glut sent ripples through the currency market […]
A new urgency is gripping financial markets. Talk of a Federal Reserve rate increase next week is no longer the main conversation, with interest rate futures now pricing it as a near certainty. How quickly the Fed moves after March is now the hot topic. US jobs growth has been the catalyst. A survey by ADP revealed on Wednesday that 298,000 private sector jobs were created in […]
By Adam Jourdan and Eric Walsh | SHANGHAI/WASHINGTON SHANGHAI/WASHINGTON China has granted preliminary approval for 38 trademarks linked to Donald Trump, documents on China’s state trademark office show, giving the U.S. President and his family protection were they to develop the “Trump” brand in the market. The trademarks – which in theory cover a wide sweep of businesses from hotels to mobile libraries and escorts – underline […]
|By Matein Khalid| Janet Yellen confirmed the Wall Street consensus that the Federal Reserve will raise its overnight borrowing (Fed Funds) rate at the March FOMC. Wage growth, inflation, crude oil, asset prices, economic data momentum and Trump’s fiscal stimulus all reinforce the dual mandate logic of a rate hike. Only a really awful February non-farm payroll shock (consensus is 200,000 jobs) will avert a rate hike […]
AIG is to set up a new base in Luxembourg after the UK leaves the EU as the likely loss of passporting rights post Brexit has forced the US insurer to look for an alternative location to London from which to service EU business. The choice of Luxembourg is a sign of a shift in attitudes in the insurance world. Immediately after the Brexit vote, there was […]
We have just lived through the most spectacular global bullmarket run for the fixed income markets. This bull market rallied the bond market tothe lowest yields ever! Over a third ofall global fixed income was trading with a negative yield. The most accommodative central bank policiesmade heroes out of bond fund managers. Bond investors that stayed fullyinvested with fingers crossed, hoping for the greater fool theory to […]
