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By Steve Holland | WASHINGTON WASHINGTON President-elect Donald Trump named the head of Exxon Mobil Corp (XOM.N), Rex Tillerson, as his choice for U.S. secretary of state on Tuesday and won backing from some Republican foreign policy figures ahead of a possible Senate fight over the oilman’s ties to Russia. The Exxon CEO potentially faces difficulties getting confirmed in the Republican-controlled Senate. Some lawmakers worry about his […]

Bill Gates, Jeff Bezos and a number of other prominent figures among the world’s richest people are pledging a $1 billion investment fund for clean energy efforts. The new investment fund aims to help advance clean energy production, which in turn would help fight climate change and the negative impact it has on the environment. Breakthrough Energy Innovations The effort is a multiyear fund called Breakthrough Energy Ventures, which […]

Law Blog rounds up the morning’s legal news: Trump tariffs: Trade lawyers said President-elect Donald Trump would have unilateral authority to impose tariffs on goods an offshore U.S. company brought home, but any attempt to use it would likely face challenges in U.S. courts and international tribunals. [WSJ] SCOTUS declines Greenberg appeal: The Supreme Court […] (via WSJ)

Russia’s rouble has cemented its position as the best-performing currency of the past three months, enjoying the benefits of a strong oil price at a time when the US appears to be tilting towards a more accommodating relationship with Vladimir Putin. A 2.3 per cent rise in the rouble’s value against the dollar on Monday was followed by a further half per cent gain during Tuesday trading. […]

Wall Street looked set to open higher on Tuesday, as investors keep a close watch of the Federal Reserve’s two-day meeting where it is widely expected to raise interest rates for the second time since the financial crisis. A hike of 25 basis points in the Fed’s target range of 0.25-0.50 percent is priced in, but investors will be examining the Fed’s statement and economic forecasts for […]

Just hours before the November 30 Vienna OPEC meeting, whose outcome sent the price of oil soaring, Gartman had a recommendation: “we are short of crude oil from yesterday; we’ll have stops on those positions on a closing basis this afternoon here in the States, with the intention of adding to those short positions once the OPEC meeting is behind us.” Oops: following the same day’s 6% […]

Salesforce on Tuesday outlined LiveMessage, a conversational service available for Service Cloud that aims to connect consumers and enterprise via text messaging and apps. The gist of LiveMessage is that companies should be able to connect to customers and service them as a friend-to-friend interaction would occur via an app like Facebook Messenger. Salesforce acquired HeyWire in September for the underlying technology behind LiveMessage. Salesforce said LiveMessage […]

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An untold number of Syrians trapped in an ever tightening patch of rebel territory in Aleppo are desperately seeking a way to safety as the opposition’s final foothold in a major city looked on the verge of collapse. The International Committee of the Red Cross called for all sides to urgently agree a deal to evacuate people as it warned that time was running out for trapped […]

The battle for eastern Aleppo will be over soon, but tens of thousands of Syrians there will find little peace. The victory for the government of President Bashar al-Assad will open another violent, disorienting chapter in their lives, and a dangerous one for the opposition. Soon, civilians and rebel fighters alike will either be punished or have to flee the city and join the many thousands of […]

By Nigel Stephenson | LONDON LONDON Global shares edged up on Tuesday, helped by gains in banks after Italy’s largest lender unveiled a 13 billion euro share issue, while the dollar held steady before a Federal Reserve meeting expected to deliver higher interest rates. UniCredit launched Italy’s biggest share issue to clean up its balance sheet and boost profitability in the latest move to strengthen the Italian […]

December 13, 2016 by: Demetri Sevastopulo in Washington Donald Trump is poised to name Rex Tillerson, chief executive of ExxonMobil, as his secretary of state, ignoring criticism that the oil and gas man is too close to Russian president Vladimir Putin and the Kremlin. Mr Trump tweeted on Monday that he would formally unveil his choice for the high-profile cabinet position on Tuesday morning. US media reported […]

Bahrain LNG, the developer of the Gulf state’s receiving and regasification terminal for liquefied natural gas (LNG), has closed a $741 million syndicated loan for the platform’s construction, according to a company statement on Monday. “The project is being developed to supplement local gas production in Bahrain and ensure capacity to meet peak seasonal gas demand and industrial growth,” the statement said. While the Gulf region is […]

Legendary crooner Tom Jones will headline the opening night of next year’s Dubai Jazz Festival. The announcement comes after the British star was forced to pull out of a planned show at Abu Dhabi’s du Arena in April, following the sudden loss of his wife of 59 years, Melinda Rose Woodward, to cancer. Jones will see in a landmark 15th anniversary of the three-night festival, when he […]

By Ayesha Rascoe and Matt Spetalnick | WASHINGTON WASHINGTON The White House on Monday insisted that Washington’s “one China” policy should not be used as a “bargaining chip” with Beijing after President-elect Donald Trump said the United States did not necessarily have to be bound by its long-standing position that Taiwan is part of China. Signaling further resistance Trump will face in Washington if he tries to […]

MEXICO CITY China and Mexico pledged on Monday to deepen ties at a meeting between their top diplomats following last month’s U.S. presidential election victory of Donald Trump, who has tested Washington’s relationship with both countries. Before arriving in Mexico on Sunday, Chinese State Councillor Yang Jiechi met with members of Trump’s team in New York, including his pick for national security adviser, retired Army Lieutenant General […]

By Nick Carey and Ginger Gibson | CHICAGO/WASHINGTON CHICAGO/WASHINGTON U.S. President-elect Donald Trump’s challenges to China on trade and Taiwan are rattling American companies who have long benefited from stable relations between the two countries but now fear retaliation by Beijing if Trump were to act. Trump jarred Chinese officials on Sunday by saying the United States did not necessarily have to stick to its long-standing position […]

Trading volumes across markets have soared following the US presidential election, a boon to Wall Street investment banks as money managers prepare for a new environment under the future Trump administration.  Since the November election result, there have been seven days when more than $20bn of investment grade debt has traded hands — a level that had previously only been breached 18 times since data has been […]

Following Friday’s report by RCB’s Charlie McElligott which sought to answer “THE” question every investor is asking, namely “what could derail this rally“, today’s the cross-asset strategist has released a follow up analysis in which he warns that even though the bond battering continues – and is likely to continue for a while – the market is now being set up for a “massive mean-reversion” counter-trend rally […]

The MoU envisages bilateral cooperation between ICD and PTA Bank in order to promote and facilitate the execution of their respective mandates through financing and investments in their common member countries JEDDAH, Kingdom of Saudi Arabia, December 12, 2016/ — A Memorandum of Understanding (MoU) was signed between, the Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-PS.org), the private sector arm of Islamic Development […]

Exchange traded funds have led to excessive trading and changed the way the stock market works, according to the man widely regarded as the father of passive investing, who is now calling for politicians to re-examine the sector. Writing in an opinion piece for the Financial Times, Jack Bogle, the founder of the Vanguard Group, the world’s largest passive manager, complains that the annual turnover of shares […]

Crude oil surged to the highest in 17 months amid efforts to cut production, pushing up the outlook for global inflation and sending 10-year Treasury yields above 2.5 percent for the first time since October 2014. Chinese equities tumbled. Oil jumped more than 4 percent in New York and London after Saudi Arabia signaled it will cut output by more than previously agreed amid a weekend deal to […]

Oil prices surged above $57 a barrel for the first time since July 2015 on Monday, rallying as much as 6.5 per cent after the Opec cartel clinched a long-sought supply pact with Russia and other big crude exporters. Russia led a loose coalition oil producers from outside Opec, including Oman, Mexico and Kazakhstan, in an agreement signed this weekend to reduce supply by 558,000 barrels a […]

· Chamber organised study mission to explore trade and investment opportunities in St. Petersburg · Delegation discussed Dubai-Russia trade ties with key stakeholders from the city’s public, private sectors 12 December 2016As part of its efforts to explore new business opportunities for its members and promote Dubai as a global business hub, Dubai Chamber of Commerce and Industry recently conducted a study […]

By J.R. Wu | TAIPEI TAIPEI U.S. President-elect Donald Trump’s declaration that the United States could link its policy on Taiwan to trade negotiations with China prompted concerns on the island that it may become a pawn in wider superpower discussions. “Trump’s comments regularly mention Taiwan. What advantage is this giving Taiwan? This is something we must consider,” Johnny Chiang, an opposition Nationalist lawmaker, told reporters. “Otherwise, […]

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