By Estelle Shirbon and William James | LONDON LONDON Prime Minister Theresa May will use a major speech on Brexit next week to call on Britons to reject the acrimony of last year’s referendum and unite around the vision of a Britain more open to the world, her office said on Sunday. May intends to kick off the formal process of negotiating the terms of Britain’s exit […]
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 […]
Yazan Mohamad Al Nasser appointed CFO bringing more than 30 years of financial experience Experience in property and retail will benefit DIFC with expansion of the district underway 14 January 2017 Dubai, UAE – Yazan Mohamad Al Nasser has been appointed as the new Chief Financial Officer for the Dubai International Financial Centre Authority, the body overseeing the leading financial centre in the Middle East, Africa and […]
China and Vietnam have promised to settle their differences regarding territorial claims in the South China Sea and to safeguard peace in the region, the two countries said in a joint communique. Then statement came after Vietnamese Communist Party chief Nguyen Phu Trong held talks with Chinese President Xi Jinping in Beijing on Saturday. The communique, released by China’s Xinhua news agency after the talks, described the […]
KHARTOUM The Obama administration’s preliminary decision to ease sanctions on Sudan came with the full approval of the incoming Trump administration and after months of secret meetings, Sudan’s foreign minister said on Saturday. The United States said on Friday it would lift a 20-year-old trade embargo against Sudan, unfreeze assets and remove financial sanctions as a response to Khartoum’s cooperation in fighting Islamic State and other groups. […]
PARIS Over the past two decades, planemakers Airbus (AIR.PA) and Boeing (BA.N) have traded the crown in the annual orders race, and it was usually clear who had bragging rights in the fiercely competitive $120 billion annual jet market. On Wednesday, Airbus retained the top spot when it said it had recorded a total of 731 net orders for 2016, beating Boeing’s tally of 668 for the […]
|By Saifur Rahman|Dubai added 26,707 new companies last year to the existing 107,043 trade licenses, reflecting strong investor confidence in the emirate, the Department of Economic Development, Dubai’s trade licensing authority, said in a statement. “The number of licenses renewed in 2016 was 107,043 while 20,873 initial approvals were issued and 38,918 trade names were reserved,” the statement said. This means Dubai now has 133,750 companies active […]
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 […]
By Sinead Carew and Lewis Krauskopf | NEW YORK NEW YORK U.S. bank stocks will stay in favor with investors as long as earnings reports in the coming week show an improving profit outlook while investors wait to see if U.S. President-elect Donald Trump lives up to his campaign promises. Wells Fargo & Co. (WFC.N), JPMorgan Chase & Co (JPM.N) and Bank of America (BAC.N) kicked off […]
12 January 2017 Kingdom Holding Company (KHC), chaired by HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud announces that Flynas in which KHC owns a 34.08% stake, finalizes a $8.6billion deal with Airbus for the purchase of new aircrafts. The ceremonial event will take place on Monday 16th January 2017. -Ends- About Kingdom Holding Company:Founded in 1980, KHC is a publicly traded company which was listed on […]
Two years after departing Google, Andy Rubin is about to make headway on the smartphone industry — a field he helped push. Rubin is the creator of Android, a mobile operating system running on more than 86 percent of all mobile phones in existence as per IDC. He’s planning to merge artificial intelligence with his prowess in software engineering, and he’s doing it to produce consumer hardware. He’s […]
U.S. President-elect Donald Trump said in an interview with the Wall Street Journal he would keep intact sanctions against Russia “at least for a period of time,” and also said he wouldn’t commit to the “one China” policy until he sees progress from Beijing in its currency and trade practices. In excerpts from an hourlong interview published by the Journal on Friday, Trump said: “If you get […]
Investors have returned to the world of debt in a cooling of the Trumpflation trade that pummelled bond markets and propelled equities to record highs after the US election. The shift, which has included fresh inflows to municipal, Treasury and emerging market bond funds over the past week, dovetails with a near month-long rally in haven US Treasuries and fatigue in benchmark stock indices. Municipal funds, which […]
By David Brunnstrom and Matt Spetalnick | WASHINGTON WASHINGTON The incoming U.S. administration’s tough talk against China has set the stage for showdowns on everything from security to trade and cyberspace, but contradictory signals are sowing uncertainty over how far President-elect Donald Trump is prepared to go in confronting Beijing. Highlighting the contested South China Sea as a potential flashpoint, Trump’s Secretary of State nominee Rex Tillerson […]
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. […]
HAVANA The head of the U.S. Chamber of Commerce met with Cuban President Raul Castro and in separate meetings with members of Castro’s economic cabinet on Friday, as they prepare for the advent of a more hostile Trump administration next week. The chamber has been urging the Cuban government to sign a number of agreements with major companies such as General Electric, negotiated over the last 18 […]
“We open a new hotel every 36 hours,” Sébastien Bazin remarks, after outlining the impressive portfolio of French hospitality chain AccorHotels, with 4,100 hotels spread across 95 countries and employing 240,000 people. The significant sum includes properties gained through the recent acquisition of FRHI, a hotel management company formerly owned by Qatar Investment Authority, billionaire Saudi Prince Alwaleed bin Talal’s private investment arm Kingdom Holding and Oxford […]
The Middle East Smart Landscape Summit 2017 will be held on 15th and 16th May in Dubai Dubai, United Arab Emirates, January 12, 2017 Rapid population growth coupled with people across the world migrating to cities has fueled the growth rate of urban development. With rapid urbanization and diminishing natural landscapes and greenery, the need for managing urban areas and developing sustainable cities is at the core […]
By Kylie MacLellan | LONDON LONDON The British government must publish a detailed plan for Brexit by mid-February setting out its position on future membership of the European Union’s single market and customs union, a committee of lawmakers said in a report published on Saturday. Parliament’s Exiting the EU committee, made up of lawmakers from several parties including Prime Minister Theresa May’s Conservatives and opposition Labour, also […]
If Donald Trump was concerned by the clashing views that emerged from his cabinet nominees in the first days of Senate confirmation hearings, he did not show it on Friday. “All of my Cabinet nominee (sic) are looking good and doing a great job,” the president-elect tweeted before sunrise in New York. “I want them to be themselves and express their own thoughts, not mine!” But the […]
Citadel Securities, one of the largest traders on the US equity market, has agreed to pay $22.6m with US markets regulators to settle charges it misled customers over the prices they were getting for some of their deals. The Securities and Exchange Commission said on Friday that two of the algorithms Citadel used to execute orders on behalf of retail investors had not sought to obtain the […]
Rex Tillerson, the former Exxon chief, didn’t get where he is by being nice to China. When Beijing tried to force his company to abandon a gas exploration project in the waters off Vietnam in 2008, ExxonMobil showed it the finger. BP, Chevron, ConocoPhillips, and several others caved to Chinese pressure. ExxonMobil is still there, drilling on a Vietnamese license in waters also claimed by China. Is […]
By Jonathan Stempel | NEW HAVEN, Conn. NEW HAVEN, Conn. A former Jefferies Group Inc bond trader being tried a second time for defrauding clients about prices of mortgage bonds should be convicted because he lied repeatedly to his own customers to boost profits, a U.S. prosecutor argued on Friday. Jesse Litvak, 42, was “motivated by greed,” and it was no excuse that other traders might have […]
Theresa May, the UK prime minister, bookended a volatile week for sterling, prompting a sharp rise in the cost of hedging against falls in the pound as she prepares to set out more information about her Brexit negotiating strategy. The pound rallied against the dollar on Friday, at one stage rising 0.6 per cent to regain the $1.22 mark. But traders are positioned for sterling to fall, […]
