July, 2016

• 27 July

  Coup bid clears way for Turkish-Russian rapprochement

    The news in late June that Russia and Turkey were making noticeable moves toward repairing relations damaged last year when a Russian jet was shot down by Turks along the border with Syria was overshadowed by a terrorist attack at the Istanbul airport on June 28. Unrelated as the two events were, the news cycle quickly spun away from ...

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• 27 July

  Clinton should listen to Russian-Americans

  

    The willingness of Hillary Clinton campaign’s to suggest that Russia has interfered in the U.S. presidential election — in the form of President Vladimir Putin’s supposed help for Donald Trump — exposes the weakness of the Democratic candidate’s presidential bid. The campaign is wasting ammunition on loud but inefficient accusations, instead of looking for avenues of attack that would ...

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• 27 July

  CEOs are paid fortunes just to be average

    Verizon’s purchase of Yahoo! for $4.83 billion, while an interesting exercise in combining content, networks and mobile services, highlights the broken norms for paying executives of U.S. corporations. The short version is that issuing and repricing of stock options compensates executives for bull markets rather than their own performance is absurd. When the deal is complete, Yahoo Chief Executive ...

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• 27 July

  Economists give up on Milton Friedman’s biggest idea

    Noah Smith One of the core pieces of modern macroeconomic theory, handed down to us by the great Milton Friedman, probably missed the mark. And now it might be on the way out. And this shift has big implications for how we think about economic policy and finance. The idea is called the permanent income hypothesis (PIH). Friedman first ...

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• 27 July

  European stocks jump on Tokyo stimulus, UK growth

  

    London / AFP European and Japanese shares rallied on Wednesday after Tokyo launched a massive stimulus package, with sentiment buoyed also by accelerating British economic growth and upbeat company results. Traders were meanwhile awaiting the US Federal Reserve’s latest interest rate decision and accompanying statement. London stocks rose 0.5 percent as data showed the British economy grew by 0.6 ...

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• 27 July

  Emerging-market stocks advance with volatility at 11-year low

    Bloomberg Emerging-market stocks rose toward the highest level since China’s currency devaluation last year, while volatility fell to an 11-year low, on optimism earnings are improving and central banks remain supportive of growth. Egyptian stocks rallied the most in the world after the government said it’s nearing the final stages of talks for an International Monetary Fund loan. Turkey’s ...

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• 26 July

  Solar Impulse 2 returns to Abu Dhabi after zero-fuel flight around the world

  

    Abu Dhabi / WAM Solar Impulse 2 returned safely to Abu Dhabi on Tuesday morning to successfully complete its historic round the world flight without using a drop of fuel. The first aircraft to circumnavigate the globe using only solar power, Solar Impulse 2 touched down at 04:05 to a rapturous reception at Al Bateen Executive Airport in the UAE ...

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• 26 July

  OFID allocates US$40m to enterprise growth in Egypt

    Vienna / WAM The Director-General of the OPEC Fund for International Development (OFID), Suleiman J Al-Herbish, and the Egyptian Minister of International Cooperation, Dr Sahar Nasr, have signed a US$40 million loan agreement to support small enterprises amongst marginalized groups in the country. The OFID loan will finance a second phase of the Social Development Fund (SFD) lending program. SFD ...

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• 26 July

  Etihad’s world-class lounge at Los Angeles Airport

  

    Emirates Business Etihad Airways on Tuesday officially opened its new First and Business Class Lounge within the Tom Bradley International Terminal at Los Angeles International Airport (LAX). Building on a growing global reputation for product innovation and development, the lounge reflects a commitment to delivering exceptional hospitality experiences for First and Business Class guests departing on Etihad Airways’ daily ...

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• 26 July

  ADDED closes 43 businesses in Abu Dhabi and Al Ain

  Abu Dhabi / Emirates Business Abu Dhabi Department of Economic Development (ADDED) closed 43 commercial establishments in Abu Dhabi and Al Ain in the first half of this year as they violated regulations of practicing commercial activity as per Law No. 02 of 2009 establishing ADDED, and Resolution No. 25 on regulating commercial activities and issuing commercial licenses. Mohamed Munif ...

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