December, 2016

• 4 December

  Germany, Japan must carry heavy Trump burden

    Next week marks the 75th anniversary of the attack on Pearl Harbor that triggered the U.S. entry into World War II. Now America’s two main antagonists in that war — Germany and Japan — will have to become more prominent defenders of the international order the U.S. built after its victory. President-elect Donald Trump — who adopted the prewar ...

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• 4 December

  UAE’s economic growth defies global trend

    Contrary to the global trend of economic slowdown, UAE posted a significant economic growth. Country’s vital sectors are growing at a substantial pace. The UAE has taken a major step forward in achieving socio-economic developments. A sustainable, diverse and globally competitive economy is the need of the hour. And this is possible only with participation of citizens, who are ...

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• 4 December

  UK industrial strategy bound to backfire

  

    Industrial Strategy is making a comeback. One of Theresa May’s first acts as prime minister was to create a new “Department for Business, Energy and Industrial Strategy.” That may sound impressive, but history is littered with equally well-intentioned but unsuccessful industrial strategies. For every case of success one can find more than one case of failure. Previous attempts at ...

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• 4 December

  Taking on McDonald’s in China is a tall order for Citic

  

    McDonald’s Corp. looks like it’s gotten itself a happy meal in China. The consortium purchasing the assets, however, risks a bout of indigestion. The world’s biggest fast-food chain couldn’t have done much better than locking up Citic Group Corp. and Carlyle Group LP as buyers of its franchise in Asia’s largest economy. The $3 billion price tag that’s being ...

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• 4 December

  Cuba wanderlust dims as Trump looms

  

    US airlines rejoiced earlier this year when it was announced that commercial flights would resume to Cuba after more than a half century, with one executive at a major carrier calling it almost a “once-in-a-lifetime opportunity.” Yet as service begins this week to Havana, the long-awaited travel surge to the island is already in doubt. Citing weak demand, American ...

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• 4 December

  Saudi shares up in volatile session, Dubai gains 1.7% in heavy trade

  

    DUBAI / Reuters Most stock markets in the Gulf rose on Sunday as investors cheered a rally in crude oil prices, while foreign buyers continued to support Egypt’s index. Brent crude futures ended their best week in at least five years on Friday, settling at $54.46 a barrel following OPEC’s agreement to cut output to prop up prices. Saudi ...

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• 4 December

  Rural China banks with $4trn assets face debt test

  

    Bloomberg Bond investors are weighing rising risks that smaller Chinese banks will fail against growing signs the government will do anything to avoid a financial meltdown. A lender called Guiyang Rural Commercial Bank Co. in the southwestern province of Guizhou sparked concern that risks among smaller lenders are spreading after its rating outlook was cut last month following a ...

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• 4 December

  EU lawmakers to soften risk retention in ABS overhaul

    Bloomberg European Union lawmakers plan to soften draft rules on asset-backed securities after concerns that an earlier proposal would hinder a market-revival drive. Negotiators for the main political parties in the European Parliament’s Economic and Monetary Affairs Committee agreed to give ground on risk-retention levels, the most contentious aspect of their initial plan. The risk-retention requirement is intended to ...

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• 4 December

  Brazil central bank cuts interest rate again

  

    Brasília / AFP Brazil’s central bank cut its key interest rate for the second month running, as data showed that the recession hitting Latin America’s largest economy continued into the third quarter. The central bank lowered the benchmark Selic rate by a quarter of a percentage point, to 13.75 percent — still one of the world’s highest. “The available ...

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• 4 December

  Barclays named ‘best overall GCC private bank’

  Emirates Business Barclays was named Best Overall GCC Private Bank at the WealthBriefing GCC Region Awards 2016, further emphasizing the bank’s continuous commitment to delivering outstanding services in the private banking sector across the region. This recognition from Wealthbriefing comes from a distinguished panel of independent jury members and is considered to be one of the most prestigious awards for ...

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