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Hanging over discussion of Federal Reserve tightening has been a potentially market-shaking question: how to safely unwind the crisis-era asset purchases that bloated the central bank’s balance sheet.  Policymakers led by Janet Yellen, the Fed chair, have approached the topic gingerly, acutely aware of the potential to repeat the so-called taper tantrum of 2013, where ill-timed talk of slowing bond purchases roiled global markets.  Yet for all the […]

Malaysia-born Cassandra Hsiao was accepted to all eight Ivy League schools in the US. ― File picKUALA LUMPUR, May 1 ― Cassandra Hsiao, the Malaysia-born 17-year-old who was accepted to all eight Ivy League schools in the US, announced that she has chosen to go to Yale. Hsiao, who was born to a Taiwanese father and Malaysian mother in Johor Baru, also told The Star that she […]

Authored by EconomicPrism’s MN Gordon, annotated by Acting-Man’s Pater Tenebrarum, Seeing the Light It has been said that “the definition of insanity is doing the same thing over and over again and expecting different results.”  No one quite knows who first uttered this remark; it has been attributed to Albert Einstein, Mark Twain, Benjamin Franklin, and has even been said to be an Ancient Chinese Proverb.  What […]

WASHINGTON The Trump administration’s push to overhaul tax laws might soon target a loophole used by some financial managers to lower their tax rates, White House Chief of Staff Reince Priebus said on Sunday. President Donald Trump campaigned before the Nov. 8 election to eliminate the so-called “carried interest” loophole, which is used by many financial managers to lower tax obligations. But a rough outline for a […]

The Trump administration has opened the door to huge potential savings for hedge fund and private equity managers by proposing to slash tax rates for small businesses in a way that could be exploited by Wall Street financiers. Hedge fund and private equity managers are a subgroup that could emerge with some of the biggest gains from the President Donald Trump’s tax plan, which was scorned by […]

To understand the dynamics of Pakistani politics, one needs to watch the popular drama series Game of Thrones. Based on George R R Martin’s series of novels A Song of Ice and Fire this drama serial focuses on the moves and conspiracies to win power games. I am sure if the writer or director sees Pakistan’s version of Game of Thrones they would forget their own drama series. […]

Even before the first details of Nintendo’s Switch games console were unveiled to the world in early January, the industry knew it would be a cross between a home console and a handheld gaming machine and could sense an all-in bet coming. On Friday, behind the hoopla of the company’s latest game launch, analysts spotted the same tell: a giveaway sign of a company that desperately wants […]

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By Ju-min Park and James Pearson | SEOUL SEOUL South Korea said Washington had reaffirmed it would shoulder the cost of deploying the THAAD anti-missile system, days after U.S. President Donald Trump said Seoul should pay for the $1-billion system designed to defend against nuclear-armed North Korea. In a telephone call on Sunday, Trump’s national security adviser, H.R. McMaster, reassured his South Korean counterpart, Kim Kwan-jin, that […]

Ben Wilson from Pacific Crest thinks it’s unlikely that a new device will replace the smartphone for most purposes. Instead, it will be supplemented by AI-based services such as Amazon’s Alexa. The smartphone is just another iteration of the everyday experience that computers have been getting smaller and smaller for the past 60 years. We’ve already moved from mainframes, minicomputers, workstations, personal computers, laptops, and handhelds to […]

Viewers in the Arab world are still waiting for the first locally produced Netflix Original content. We were assured last week at a promotional event in Dubai for the streaming service that bosses are looking for the “right material” and Arabic production remains a key priority. Meanwhile, Netflix’s stable of international productions continues to grow with release of its first Spanish production, Cable Girls (Las Chicas del […]

By Neil Jerome Morales | MANILA MANILA Philippine President Rodrigo Duterte on Saturday urged the United States to show restraint after North Korea’s latest missile test and to avoid playing into the hands of leader Kim Jong Un, who “wants to end the world”. The notoriously blunt Duterte said the Southeast Asia region was extremely worried about tensions between the United States and North Korea, and said […]

Marine Le Pen has agreed to team up with an anti-EU candidate who came sixth in the first round of France’s presidential election as she seeks to win votes from the centre-right in the run-off next weekend. On Saturday Ms Le Pen announced that she would name Nicolas Dupont-Aignan, an anti-EU Gaullist and founder of the nationalist party Debout la France (Arise France), as prime minister in […]

(Image: Genesis Robotics) Despite major advancements in robotics and the huge potential it has to make our lives easier, robots are still mostly stuck in industrial settings. We have seen a few robots enter homes, healthcare, and other work settings, but for the most part, they are still a novelty. In order for robots to become as ubiquitous as the other technology that consumers have recently embraced, […]

Islamabad Minister of State for Capital Administration and Development Division Dr Tariq Fazal Chaudhry Tuesday said Pakistan Tehrik-i-Insaf (PTI) used Panama Papers as a political ploy after its allegations of electoral rigging were rejected by a judicial commission in 2014.Addressing a press conference along with Pakistan Muslim League-Nawaz (PML-N) Member of National Assembly Daniyal Aziz, he said the name of Prime Minister Nawaz Sharif was not even […]

It has a granite fountain and a bosque of shade trees. And to some rightwing Americans, the new headquarters of the Consumer Financial Protection Bureau is a monument to all that went wrong under eight years of Barack Obama’s presidency. The budget for the refurbishment of the Washington DC building, at about $363 a square foot, makes it more expensive than the Venetian hotel in Macau or […]

By Matthias Blamont and Simon Carraud | PARIS PARIS French far-right presidential hopeful Marine Le Pen on Saturday chose defeated first-round candidate Nicolas Dupont-Aignan as her prime minister, a bid to attract his voters and help her to victory over centrist favourite Emmanuel Macron. Dupont-Aignan is a nationalist whose protectionist economic policies are close to those of the National Front’s Le Pen and who, like her, wants […]

ABU DHABI // Driving behaviour needs to change if laws are to be effective in improving safety and compliance, according to the experts. Robert Hodges, a driver education and road safety expert, said new laws are beneficial but they will be workable only if motorists are willing to adapt their driving to them. “The underlying problem, which continues to exist, is that the authorities need to change […]

Cloudera CEO Tom Reilly ringing the bell at the NYSE Friday. Cloudera closed out its first day of trading on the New York Stock Exchange with its share price up 20 percent to $18.10. The Apache Hadoop-based software and services distributor started trading Friday morning at $17.80 a share under the ticker symbol CLDR. On Thursday evening, Cloudera priced its shares at $15, raising around $225 million […]

Bret Stephens made his debut in the pages of The New York Times opinion section today with a column defending climate change skepticism in the face of scientific surety, a take that didn’t sit well with many of his colleagues in the newsroom. Stephens, a 2013 Pulitzer Prize-winner who joined The Times earlier this year after critiquing Donald Trump’s presidential campaign for The Wall Street Journal’s opinion […]

By Michelle Nichols and Lesley Wroughton | UNITED NATIONS UNITED NATIONS U.S. Secretary of State Rex Tillerson warned on Friday that failure to curb North Korea’s nuclear and ballistic missile programs could lead to ‘catastrophic consequences,’ while China and Russia rebuked Washington’s threat of military force. The showdown in a meeting of the U.N. Security Council on North Korea highlighted the diplomatic challenges of resolving tensions over […]

From the Slope of Hope: Earlier this week, my son asked me a sincere question: “How come Marissa Mayer got $200 million by screwing up Yahoo?” It was a good question, and one I had trouble answering at first, because I’d like him to think that there’s some level of fairness, meritocracy, and sensibility to this world of ours. In Mayer’s case, however, there is none. Her entire massive fortune is […]

By Alastair Macdonald | BRUSSELS BRUSSELS European Union leaders will endorse a stiff set of divorce terms for Britain at a summit on Saturday, rejoicing in a rare show of unity in adversity, but well aware that may start to fray once negotiations begin. Meeting for the first time since British Prime Minister Theresa May formally triggered a two-year countdown to Brexit in late March, the 27 […]

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. When Barack Obama was vacationing recently with Bruce Springsteen, Tom Hanks and Oprah Winfrey aboard a $300 million yacht in Tahiti, one wonders if he ever hummed Springsteen’s “All Or Nothin’ At All.” At the moment, it seems like he […]

WASHINGTON U.S. President Donald Trump told Reuters on Thursday he will either renegotiate or terminate what he called a “horrible” free trade deal with South Korea and said Seoul should pay for a U.S. anti-missile system that he priced at $1 billion. In an interview with Reuters, Trump called the five-year-old trade pact with South Korea “unacceptable” and said it would be targeted for renegotiation after his […]

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