Dhaka / AFP As they jostle for space on the floor, with the door to their fire escape padlocked, the seamstresses cannot help but recall the carnage when another of Bangladesh’s garment factories collapsed three years ago. “We always worry what will happen if a blaze breaks out or the building caves in,” one woman worker said on condition ...
Read More »Uncategorized
Carry trade gains traction as currency volatility turns lower
Bloomberg Conditions in the $5.3 trillion foreign-exchange market have turned supportive for one of the most popular trading strategies — the carry trade. Returns from the technique, in which investors borrow in currencies with low interest rates and use the proceeds to buy an asset with higher rates, advanced this week to the highest levels since December, according to ...
Read More »Yahoo to narrow field of bidders as soon as next week
Bloomberg First-round bidders for Yahoo! Inc. could find out as early as next week whether they’ve made it through to the next stage. Yahoo’s advisers will spend the weekend narrowing down the field of bidders after receiving more than 10 initial offers for the Internet company ranging from about $4 billion to $8 billion. Several first-round bidders will be ...
Read More »Merkel visits refugee camp in Turkey to assess migrant pact
Turkey / AFP German Chancellor Angela Merkel visited a refugee camp on the Turkish-Syrian border on Saturday, kicking off a high-stakes visit aimed at boosting a month-old migrant deal plagued by moral and legal concerns. Merkel, who was accompanied by European Council head Donald Tusk and European Commission Vice President FransTimmermans, headed to the Nizip 2 camp near Gaziantep ...
Read More »Syria regime bombardment kills 27 civilians
Aleppo / AFP At least 27 civilians were killed on Saturday in regime bombardment on rebel-held areas across Syria, a monitor and local sources said, in the latest deadly violence despite a ceasefire deal. Twelve civilians were killed in Aleppo, according to a local civil defence official, and the Syrian Observatory for Human Rights said 13 others died in ...
Read More »Tadweer holds ‘Your Happiness is Our Goal’ initiative
Abu Dhabi / Emirates Business Tadweer (the Center of Waste Management – Abu Dhabi) organised “Your Happiness is Our Goal†initiative at Al Ain Centre for Care and Rehabilitation by its Al Ain Branch, the initiative targeting the disabled people who require special care and attention from all members of the society. This initiative comes as part of a ...
Read More »Donald Trump’s cries of ‘rigged’ system shifts blame for his losses
HARRINGTON / AP Top aides spent the week gingerly courting Republican insiders at a seaside resort in Florida, but front-runner Donald Trump was busy railing against them. While it may seem counterproductive, Trump’s foot-stomping has served as a rallying cry to boost voter turnout and allowed him to continue to appeal to voters who feel disenfranchised. The “rigged†system ...
Read More »At London youth event, Obama pushes diplomacy over force
LONDON / AP President Barack Obama on Saturday urged the next generation of British leaders to give serious thought to how they solve problems, turning a light-hearted question about priorities for his successor into a treatise on his preference for diplomacy over military conflict. Obama said keeping US citizens safe is his top priority and he suggested that it ...
Read More »Masdar shines up Egypt’s remote areas
ABU DHABI / WAM Masdar, Abu Dhabi’s renewable energy company, has completed the delivery of 30 megawatts of utility-scale clean energy projects and 7,000 solar home systems in remote and strategic areas across Egypt. Together, the four clean energy projects developed by Masdar’s Special Projects unit will power 25,800 homes and displace 42,700 tonnes of CO2 annually, as well as ...
Read More »DEWA wins ‘academic performance’ award
Dubai /Emirates Business HH Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, honoured Dubai Electricity and Water Authority (DEWA) at the 18th Hamdan bin Rashid Al Maktoum Award for Distinguished Academic Performance, held at the Dubai International Convention and Exhibition Centre. The ceremony was attended by HH Sheikh Ahmed bin Saeed Al Maktoum, ...
Read More »