In June, speaking at a former steelworks in western Pennsylvania that now processes scrap aluminium, Donald Trump promised a bright future for US steel if he became president. “It will be American steel that will fortify American’s crumbling bridges. It will be American steel that sends our skyscrapers soaring into the sky,” he said. “We are going to put American-produced steel back into the backbone of our […]
03 December 2016 Gulf Navigation announces the initiation of studies for large expansion of its operations in the northern region of the United Arab Emirates consisting of a set of comprehensive maritime activities, (the GNH Northern Project), including ship building, ship repair and offshore platforms, equipment and services, logistics, marine specialized operations and global mobile ship repair and services including a float and during voyage. The eastern […]
The commission, if not dead on arrival, quickly ended up on life support. Mr. Stiglitz and another board member, Mark Pieth, a Swiss anticorruption expert, resigned after only one official meeting because the government, they said, would not promise to make their final report public. Continue reading the main story “You can’t have a committee on transparency and not be transparent,” Mr. Stiglitz said. Photo President Juan […]
By Ahmed Rasheed | BAGHDAD BAGHDAD No food or fuel has reached Mosul in nearly a week and the onset of rain and cold weather threatens a tough winter for more than a million people still in Islamic State-held areas of the city, residents said on Saturday. Iraqi troops waging a six-week-old offensive against the militants controlling Mosul have advanced into eastern city districts, while other forces […]
SIMI VALLEY, Calif. The United States should focus on larger strategic interests in the Asia-Pacific region, including expanding trade ties, the defense minister of Singapore said on Saturday, when asked about the controversy sparked by U.S. President-elect Donald Trump’s phone call with the president of Taiwan. Ng Eng Hen said it was not Singapore’s place to comment on Trump’s phone calls, but welcomed comments by his aides […]
Dubai-based port operator DP World has announced the creation of an investment vehicle in partnership with Caisse de dépôt et placement du Québec (CDPQ), one of North America’s largest pension fund managers. The investment platform totals $3.7 billion, with DP World holding a 55 percent share and CDPQ the remaining 45 percent, the company said in a statement. The platform will invest in ports and terminals globally […]
US technology shares faced one of their worst weeks of 2016 as investors shifted their focus to equities that will benefit from the soaring price of oil and the policies of the Trump administration. The S&P 500 technology index, a measure of large companies in the sector, has declined 3 per cent since Friday last week. The fall represents the steepest drop since late April, when Apple […]
Like Christmas ornaments on Main Streets across America, Wall Street banks’ forecasts for the year ahead keep coming out earlier every year. At least this year analysts have something substantive to sink their intellectual teeth into: the impact of incoming president Donald Trump. The results are fascinating — especially for bonds. The fixed income market has been one of the biggest victims in the “Trumpflation trade” that […]
Egypt, which has seen its influence wane, is seeking allies and relevance wherever it can find them, even if that means shelving concerns about Iran. Continue reading the main story While Russia’s goal seems to be to expand its influence and pave the way for the international rehabilitation of Mr. Assad’s government, the scrambling of alliances remains in motion and the results unclear. The new relationships are […]
A digital battle is being waged over the huge amount of technical data that will be stored in autonomous vehicles Just like credit cards, smartphones or search engines, autonomous cars will carry a trove of information about their owners as they make driving more comfortable, raising new concerns about privacy. Automakers are engaged in a fierce race to develop the first driverless car, which experts say should […]
Europe’s financial markets are bracing for Italy to reject the government’s constitutional reforms in Sunday’s referendum, with investors warning that an emphatic No vote risks a sharp sell-off in Italian assets. Although there has not been panic ahead of the vote, there are signs of some nerves among money managers and traders whose attention in recent weeks has been dominated by the reflation trade unleashed by Donald […]
By Chiekh Sadibou Mane and Thierry Gouegnon | BANJUL BANJUL Gambian leader Yahya Jammeh, who once vowed to rule the tiny West African nation for “a billion years”, said he had accepted his shock election defeat on Friday, 22 years after seizing power in a coup. Voting on Thursday against Jammeh was a rare show of defiance against a leader who has ruled by decree and who […]
DUBAI An American-Iranian dual national and his wife have been in detention in Iran without charge or access to lawyers since their arrest by elite Revolutionary Guards in July, a New York-based rights group said on Friday. The International Campaign for Human Rights in Iran (ICHRI) said Karan Vafadari and his wife Afarin Niasari, who run an art gallery in Tehran, were being held in Tehran’s Evin […]
A worker holds part of a pair of trousers at PT Trisula Garmindo Manufacturing in Bandung, West Java province September 17, 2013. In PT Trisula International’s hangar-sized factory outside the western Indonesian city of Bandung, hundreds of workers stitch together clothes for some of the world’s top brands. Amid the clatter and hum of their machines are hopes for a renaissance that can restore Indonesia’s place among […]
An ice storm, an email suggesting regime change and the mechanics of thinly traded futures markets have emerged as central points of contention in the market manipulation trial of one of the world’s biggest traders in financial derivatives. Donald Wilson and DRW, the trading group he leads from Chicago, are fighting civil charges they distorted the price of an interest rate futures contract. They went on trial […]
ABU DHABI // “Building nations is not complete without safeguarding heritage,” Sheikh Hazza bin Zayed told the Safeguarding Cultural Heritage Conference in the capital on Friday. The deputy chairman of Abu Dhabi Executive Council was addressing the first day of the conference, where attendees heard reports of past atrocities as a prompt to forging meaningful outcomes for the future. The conference concludes Saturday, with the adoption of […]
BEIJING Chinese President Xi Jinping told former U.S. secretary of state Henry Kissinger on Friday that China was watching U.S. politics “very closely” following the presidential election won by Republican Donald Trump. Trump lambasted China throughout the U.S. election campaign, drumming up headlines with his pledges to slap 45 percent tariffs on imported Chinese goods and to label the country a currency manipulator. A few days after […]
On the heels of Jeff Gundlach‘s “there’s going to be a buyer’s remorse period” warnings yesterday, the other ‘bond king’ has raised similar fears that the Trump rally is overdone (as are the prospects for growth behind it). Putting aside the book-talking as their bond portfolios suffer, Gross echoes Gundlach’s “Trump’s not the wizard of oz” comments, noting that the next president faces serious structural headwinds and […]
By Matthias Inverardi and Harro Ten Wolde | FRANKFURT FRANKFURT Aixtron (AIXGn.DE) will have to take action to balance income and costs, including potential job cuts, if U.S. President Barack Obama blocks its takeover by China’s Fujian Grand Chip Investment Fund (FGC). Shares in the German semiconductor equipment maker fell more than 5 percent on Friday following a report by Bloomberg, citing sources, that said Obama was […]
Good morning. Here’s our daily summary of all the media news you need to know. Want to get this briefing in your inbox every morning? Subscribe here. Since Jim VandeHei and John Harris proved most everybody to be idiots, VandeHei can only hope that reflexive suspicion of his new gambit again proves to be entrepreneurial bliss. The two journalists famously pitched the notion of an all-politics digital […]
Investors poured money into US equity funds and pulled it from European ones in a week dominated by hopes for an acceleration in US economic growth and anxiety over Italy’s referendum on constitutional reform this weekend. European equity funds lost $2bn in the week to November 30, according to data from EPFR, while US funds attracted $4.4bn. That takes the total inflow for US equity funds since […]
Zahid says all component parties should help each other out, especially during the next general election. KUALA LUMPUR: Other Barisan Nasional (BN) component parties must work as hard as Umno, says the party’s acting deputy president Ahmad Zahid Hamidi. Zahid said he had met with the presidents of BN component parties to discuss this and was confident that a “huge change” would happen soon. “I have urged […]
Coutts, the taxpayer-owned bank, provided offshore services to controversial clients including a member of the Brunei royal family accused of stealing billions from his own country, and a banker charged with assisting the sons of Egypt’s deposed president, Hosni Mubarak, in financial crime. Known as the Queen’s bank after its most famous customer, Coutts is revealed to have managed secretive tax haven structures for the Sultan of […]
By Greg Torode and Marius Zaharia | HONG KONG/SINGAPORE HONG KONG/SINGAPORE As the impounding of Singaporean troop carriers in Hong Kong exposes rising tensions between China and Singapore, the Lion City is unlikely to budge on core security interests concerning Beijing – its military relationship with Taiwan, worries over the South China Sea and its hosting of the U.S. military. Singaporean officials, retired military officers and analysts […]
