Picture it: rumours of a renminbi devaluation keep growing. Residents rush to open accounts offshore as experts warn Beijing will get off on the wrong foot with a relatively new US administration if a big depreciation happens. Official denials are made regularly — until a devaluation of about 50 per cent follows in short order. That was China in 1994. Today the idea of a similarly brutal, […]
There is an old adage that trust takes years to build, seconds to break, and forever to repair. When it comes to the Internet and its users, the same holds true. For average Internet users, trust in the Internet has to be built. They have to gain confidence in the safety of their private information online. When a user’s private online information is made public, they lose […]
1979: A threatening revolution Saudi Arabia, a young country pieced together only in the 1930s, has built its legitimacy on religion. By promoting its stewardship of the holy sites at Mecca and Medina, it could justify its royal family’s grip on power. Continue reading the main story Iran’s revolution, in 1979, threatened that legitimacy. Iranians toppled their authoritarian government, installing Islamists who claimed to represent “a revolution […]
|By Matein Khalid|Brexit will have a profound impact on international banking. It was no coincidence that the shares of UK, German, Swiss, Italian, Spanish and other banks fell 20-25% in a single trading session on news of Brexit. Even American money center banks and investment banks with a large footprint in the City of London fell 8 – 10% on Friday, June 24, 2016. As Deutsche Bank […]
Dubai: The cost of insuring exposure to Saudi Arabia risk for a five-year period widened by 8 basis points ahead of its bond issue as investors increased hedging bets. The five-year Saudi Credit-Default (CDS) Swaps jumped to 160 basis points on Tuesday compared to 152 basis points last Monday, data showed. “This accounted for their large […]
Vodafone Qatar saw a net loss of $18.1 million in the threemonths to March 31 Vodafone Qatar Q4 net loss widens DOHA, 3 days ago Vodafone Qatar, an affiliate of Vodafone Group, reported a wider fourth-quarter loss on Wednesday. The company, which ended state-controlled Ooredoo’s domestic monopoly in 2009, made a net loss of QR66 million ($18.1 million) in the three months to March 31, according to […]
Alitalia SpA may follow British Airways parent IAG in quitting the Association of European Airlines as a rift widens over the competitive threat from Gulf carriers, which are the biggest shareholders at both companies. “A strong signal is needed and other airlines have already done that,” Alitalia Chief Executive Officer Silvano Cassano, whose Rome-based company is 49 percent owned by Etihad Airways PJSC, said in an interview. […]
NEW DELHI: Less than a day after Delhi Electricity Regulatory Commission (DERC) announced a hike in consumer power tariff through power purchase adjustment charges (PPAC), it withdrew the order. This is the first time a tariff order has been withdrawn in Delhi since DERC was constituted in 2001. While the regulator said the order stands withdrawn till it receives complete information from various power generators on fuel […]
Sharjah is offering investors an enticement that fellow emirate Dubai doesn’t as the sheikhdom gears up for its first Shariah-compliant bond sale this month: a credit rating. The emirate, which is more than twice the size of New York City, may price the debt to yield 2.5 percent to 3 percent if it’s a five-year issue, according to three fixed-income analysts surveyed by Bloomberg. That compares with […]
Video | Obama on Failed Cease-Fire in Gaza The president called for the release of an Israeli solider captured just moments after a cease-fire was reached in the Gaza conflict. By PETER BAKER August 1, 2014 WASHINGTON — President Obama on Friday demanded that Hamas release a captured Israeli soldier unconditionally and expressed pessimism that another cease-fire could be reached because of the deep reserves of mistrust between the […]
Opposition leader Narendra Modi has widened his lead as candidate to become India’s prime minister and his Hindu nationalist Bharatiya Janata Party is likely to emerge as the single largest party in coming elections, according to a new opinion poll. The BJP also picked up support in Uttar Pradesh and is set to get half the seats in the heartland state which sends the largest number of […]
Investors are favoring U.S. stocks over emerging markets by the most ever as fund flows and volatility measures show institutions are increasingly seeking the relative safety of American equities. Almost $95 billion was poured into exchange-traded funds of American shares this year, while developing-nation ETFs saw withdrawals of $8.4 billion, according to data compiled by Bloomberg. The Standard & Poor’s 500 Index (SPX) trades at 16 times […]
A climate of fear that kept Egyptians compliant during the 30-year rule of Hosni Mubarak is creeping back into daily life, less than three years after the revolt that toppled him. Ordinary people like Mohamed, who runs a tiny Cairo shop selling mobile phone accessories, now lower their voices if they oppose the army’s overthrow last month of their first freely-elected president, Mohamed Mursi. “It is about […]
