April, 2016

• 14 April

  China condemns US human rights in annual report

    Beijing / AFP China slammed the US for its human rights record on Thursday, state media said, denouncing it for police brutality and civil rights violations a day after Washington criticised Beijing’s own performance. In a report sourced mainly from US media, China said “the US government refuses to hold up a mirror to look at itself, it has ...

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• 14 April

  The problem with Australia’s steel industry

  

  Last week, Arrium, one of the two dominant steel manufacturers in Australia went into voluntary administration with debts of over $AU 3 billion ($US 2.3 billion). With the failing of the company having the potential to affect up to 8,000 jobs nationwide, there have been calls for the federal government to bail out Arrium. The opposition Labor Party wants to ...

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• 14 April

  Why China’s Djibouti presence matters

    Jonathan Dove SPECIAL TO EMIRATES BUSINESS China’s foreign policy is evolving, and Africa may be both its proving ground and litmus test. As Beijing is seeking to expand its global role, its national interests, citizens, and assets need to be protected abroad, and nowhere else is this need as acute as it is in Africa. Consequently, China seems to ...

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• 14 April

  Will Afghan Air Force make a difference this time?

  While the Taliban officially launched their annual spring offensive this week pledging large-scale attacks, the Afghan National Defense and Security Forces (ANDSF) will for the first time in 15 years be able to deploy a light attack aircraft specifically designed for counterinsurgency operations in their fight against the insurgents. The Afghan Air Force (AAF) will begin this year’s fighting season ...

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• 14 April

  Global stocks extend rally as oil reverses losses

  

  BLOOMBERG Global stocks rallied for a fifth day and oil climbed, while the dollar reversed gains, and Singapore’s currency dropped as the city state unexpectedly loosened monetary policy. The Stoxx Europe 600 Index rose as Nestle SA led a surge in food companies, after Asian equities posted their longest rally in a year, while Standard & Poor’s Index futures were ...

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• 14 April

  Emirates Securities Market up by 1.49 percent

  

    ABU DHABI / EMIRATES BUSINESS The Emirates Securities Market Index has increased by 1.49% to close at 4631.26 points. Accordingly the Market Capitalization has gained AED 11.02 billion attaining AED 751.25 billion. A total of 0.68 Billion Shares were traded with a total value of AED 1.25 billion during the trading session of 14-04-2016 through 9997 transactions. The number of companies ...

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• 14 April

  MUFG chief flays BOJ strategy

  

    Tokyo / Bloomberg The top executive of Japan’s biggest bank delivered a rare criticism of the central bank, saying its negative interest-rate policy has contributed to anxiety among households and companies and prolonging it may weaken financial institutions. “Both households and businesses have become skeptical about the effectiveness of policy measures to address the current economic problems,” Nobuyuki Hirano, ...

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• 14 April

  Bank of Japan to ease more by July

  

    Reuters Japan’s economy is expected to have narrowly avoided another recession at the start of 2016 but economists in a poll also predicted that growth and inflation will remain tepid this year, held back in part by the recent sharp rise in the yen. The Bank of Japan (BOJ) surprised in a split January decision to implement a tiny ...

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• 14 April

  Oman’s Bank Muscat Q1 profit rises 1.1 percent

  

    Reuters Bank Muscat, Oman’s largest lender, posted a 1.1 percent increase in first-quarter net profit on Thursday, according to a bourse statement, on the back of rising income from loans, fees and commission. The bank made a profit of 43.8 million rials ($113.8 million) in the three-month period ending on March 31, up from 43.3 million rials a year ...

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• 14 April

  Hollandi Q1 net profit down 5.1%

    Reuters Saudi Hollandi Bank, Saudi Arabia’s oldest lender, posted a 5.1 percent fall in first-quarter net profit on Thursday as income from trading, fees and commissions dipped. The lender made a profit of 511.5 million riyals ($136.5 million) in the three months to end-March, down from 538.9 million riyals in the corresponding quarter of 2015, according to a bourse ...

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