Abu Dhabi / Emirates Business The 11th International Conference of Al Noor opened on Thursday in Abu Dhabi under the distinguished patronage and presence of His Excellency Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Culture and Knowledge Development. The conference saw the participation of a large number of healthcare professionals from across the UAE and from abroad. In his ...
Read More »Can automakers redefine mobility again?
If Mark Fields’ theory is correct, his industry faces novel challenges. His theory about the changing role of driving in Americans’ lives is one reason Ford Motor Co. now describes itself as an “automotive and mobility company.” Fields, Ford’s CEO, remembers a time when, on the day a teenager became old enough for a driver’s license, he or she made ...
Read More »Economic impact of Brussels attacks
There is a consensus that the attacks in the Belgian capital on Tuesday may not have a long-term impact on EU markets, but should such assaults continue unrestrained they could result in hitting some key sectors such as travel and tourism. Belgium’s main stock index ended more or less flat on the day of attack and rose 0.2 percent on ...
Read More »Brazil stages political theater of the absurd
Bloomberg Acclaimed Brazilian actor and director Claudio Botelho is used to enthusiastic audiences. But bringing the house down mid-performance was not in the script earlier this week, when Botelho — who is currently on stage playing a theater troupe impresario — turned to the audience and ad- libbed a few quips about a “crooked former president” and a “thieving president” ...
Read More »Long-term consequences of negative rates
Most economists are tempted to rely on incremental analysis to explain the spread of negative interest rates and their implications for the global economy and markets. This is understandable, yet the inclination to focus primarily on marginal changes could be overly partial and even misleading — especially for market participants who must navigate the unintended consequences of sub-zero yields, including ...
Read More »French anti-labour reform protest turns violent
Paris / AFP Security forces responded with tear gas on Thursday as French students protesting proposed labour reforms hurled bottles at riot police in Paris and the western city of Nantes. The reforms, which were significantly watered down under pressure from a wave of protests, were adopted earlier Thursday by the cabinet of an increasingly unpopular President Francois Hollande, who ...
Read More »Brexit security cost ‘would be low’: Ex-UK spy chief
Bloomberg Richard Dearlove, former head of Britain’s MI6 overseas spying operation, said the security cost of leaving the European Union “would be low,†explicitly rejecting Home Secretary Theresa May’s argument for staying in the bloc. Following Tuesday’s terrorist attacks in Brussels, whether EU membership enhances or harms the safety of British people has become the top issue in the debate ...
Read More »ECB loans banks €7.3 billion as new long-term plan readied
Bloomberg The European Central Bank handed €7.3 billion ($8.2 billion) to euro-area banks in the seventh round of a program aimed at boosting lending to companies and consumers, shortly before it starts a new and more generous plan. The take-up in the targeted longer-term refinancing operation compares with €18.3 billion the ECB lent in a similar operation in December and ...
Read More »Russia’s $14.5 bn tax bill slows ruble’s crude slide
Bloomberg Russia’s ruble retreated for a second day on falling crude prices, while ING Groep NV said the drop would be steeper without demand from companies converting export revenue to pay a 1 trillion ruble ($14.5 billion) monthly tax bill. The currency fell 0.3 percent against the dollar to 68.9410 by 11:32 a.m. in Moscow, extending Wednesday’s 1.8 percent decline ...
Read More »Pound’s $16bn of option trades envisage drop to 1980s lows
Bloomberg As Britain ponders its future in the European Union, investors are betting an amount almost the size of Iceland’s economy on the pound falling to levels last seen in the 1980s. At least 11 billion pounds ($15.5 billion) has been wagered this year on options that would profit if sterling fell to or below $1.3502, a 4 percent drop ...
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