Bloomberg Argentina’s blockbuster $16.5 billion bond sale is opening up the floodgates for junk-rated issuers in developing countries. The Latin American country’s return to global capital markets for the first time since its 2001 default brought high-yield issuance from emerging markets to $18 billion this week. That’s more than the previous 11 weeks combined, and money managers from Aviva ...
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Obama arrives in Riyadh on fence-mending visit
Riyadh / AFP US President Barack Obama arrived in Saudi Arabia for a two-day visit on Wednesday hoping to ease tensions with Riyadh and intensify the fight against extremists. He also seeks to focus discussions on efforts to end wars in Syria and Yemen. Dressed in a grey suit, Obama emerged at 1:14 pmand descended the steps of Air ...
Read More »Donald Trump, Clinton score huge wins in New York primary
New York / AFP Billionaire Donald Trump and former secretary of state Hillary Clinton won sweeping victories in the New York primary, bolstering their bids to secure the Republican and Democratic nominations for the White House. It was the most decisive New York primary in decades and leaves self-styled democratic socialist Bernie Sanders with a tough decision on how ...
Read More »Mohammed honours winners of govt excellence awards
Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, accompanied by HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, honoured the winners of the 19th edition of Dubai Government Excellence Programme (DGEP) Awards, during a ceremony which took place on Tuesday at the ...
Read More »UAE and USA discuss counter-terrorism efforts
ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, held talks on Tuesday at Al Shatea Palace with visiting Secretary of Defence, Ashton Carter, centred on efforts being exerted by the international community to counter terrorism, violence and terrorist groups as well ...
Read More »UAE ranks first in Arab foreign trade: WTO
DUBAI / WAM The United Arab Emirates remains one of the world’s top trading economies, ranking 20th globally and first in the Middle East and Africa in commodity exports. It also placed 19th internationally in commodity imports and led the MENA region in overall commodity trade, with regional exports totalling USD 265 billion to account for 1.6 percent of ...
Read More »Britons in France lose sangfroid as ‘Le Brexit’ fear looms large
Bloomberg For Britons in France, the upper lip is stiff no more. Louise Garavaglia, who has lived in France for more than two decades, is rushing to apply for a French passport before the June 23 “Brexit†referendum in the U.K. and has no time for “wait and see.” For his part, Paris-based financial consultant Paul Johnson-Ferguson is getting ...
Read More »Signs of recession flash in US jobs data
Bloomberg As the economy again started off the year on a sour note, the glass-half-full crowd pointed to the strength of the U.S. jobs market as a reason not to worry. As long as payrolls are racking up monthly gains of 200,000 or more, the economy remains in fine fettle, or so the optimists would have it. Take a ...
Read More »Clinton, Donald Trump tipped to win as New York goes to poll
New York / AFP New York began voting on Tuesday in a high-stakes presidential primary tipped to hand Hillary Clinton and Donald Trump victories in the race to clinch the Democratic and Republican tickets to the White House. The former secretary of state, first lady and New York senator leads the polls by double digits over her Brooklyn-born challenger, ...
Read More »Steep gap in banking technology calls for an immediate bridge: Experts
Ritika Sharma / EMIRATES BUSINESS The breathtaking pace with which technology is changing the world is way too fast compared with the speed with which banks are embracing technology. As customers become more and more smartphone-dependent, banks should look for ways to collaborate with IT companies to understand and stay up-to-date with the latest changes in digital world. Retail ...
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