Bank stocks often act as proxies for political risk, as well as economic barometers. When a government starts shaking or a recession looms, financial shares may be the first to suffer. If you trust bank analysts, that paradigm is about to change. Financial institutions in countries with high political risk have seen some of the steepest positive earnings revisions …

  Now that a court has ousted her from office, former South Korean President Park Geun-hye’s troubles are only beginning: She could face indictment on charges of bribery and abuse of power. Koreans, however, need to move beyond this lurid scandal. Months of uncertainty over Park’s fate have paralyzed her nation at a critical moment. Koreans have been riveted by …

  A week ago, Germany stopped campaign events by Turkish ministers who wanted to address more than 1.4 million voters living in the country. Now, the Netherlands blocked Turkish Family and Social Policies Minister Fatma Betul Sayan Kaya from attending a political rally. Sayan Kaya had arrived in the Netherlands from Germany but was prevented from entering Turkey’s diplomatic compound …

  Dubai / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, has approved a number of initiatives and policies related to societal development, voluntary work and promoting the standard of services provided in the emirate. He gave the approval during Executive Council meeting at Etihad Museum. The …

  Sharjah / WAM Sharjah Islamic Bank (SIB) plans to issue convertible sukuk equivalent to 10 per cent of the lender’s capital, it said on Sunday. Funds raised through the sale will be used by Islamic endowments selected by the government of Sharjah. The bank also authorised a capital increase to around AED2.66 billion, it said in an emailed press …

  Dubai / WAM Dubai Land Department (DLD) will provide support for the Middle East Facilities Management Conference (MEFMA) through its strategic partnership with the Middle East Facilities Management Association (MEFMA). The sixth edition of the conference will take place from March 13-14 at The Address Hotel, Dubai Marina. DLD has confirmed that a delegation of senior management representatives will …

  Dubai / WAM The Dubai Chamber of Commerce and Industry (DCCI), has finalised its preparations for its upcoming trade mission to India, which will take place from March 14-17, as part of its Global Business Forum series roadshow. The trade delegation will include dignitaries and senior businessmen from the UAE who will visit Mumbai and Ahmedabad, and meet key stakeholders …

  Abu Dhabi / WAM The Global Manufacturing and Industrialisation Summit (GMIS) announced a strategic partnership with Jebel Ali Free Zone, Jafza, the UAE’s flagship trade and logistics hub, in a move aimed at accelerating economic growth and boosting trade, especially through manufacturing. The decision to name Jafza, a free zone set up in 1985, as a Strategic Partner for …

  ABU DHABI / WAM Abu Dhabi Securities Exchange (ADX) announced that foreign investors’ purchases in February 2017 reached AED2.306 billion, representing 44.8 percent of total trades, whereas their sales stood at AED2.158 billion, representing 41.9 percent of total trades. In its statement, ADX added, “Subsequently, the net foreign investment in February reached AED148 million, whereas institutional investments in February …

  ABU DHABI / WAM The Federal National Council (FNC) will hold the ninth and 10th meetings of the Second Ordinary Session of the 16th Legislative Chapter on Tuesday and Wednesday, during which members will discuss the federal draft law on taxation procedures. Under the chair of Dr Amal Abdullah Al Qubaisi, Speaker of the FNC, members will put two questions …