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Presidential campaigns incite both hypochondria and euphoria, portraying the present as grimmer than it is and the future as grander than it can be. As an antidote to both, read a rarity, an academic’s thick book (762 pages) widely recognized as relevant to America’s current discontents. Robert Gordon’s “The Rise and Fall of American Growth” argues that an unprecedented and ...

Urbanization is posing huge challenges to city planners across the world and these challenges are going to multiply, if the goal of improving quality of life is given a short shrift. Lack of vision and working with myopia will only aggravate the existing woes that urbanites are facing today. Estimates indicate that 70% of the global population will be urban ...

Edward Cavanough SPECIAL TO EMIRATES BUSINESS The attacks in Brussels last Tuesday that left 35 dead and hundreds wounded have rightly shocked Australians and stoked global condemnation. But what are the consequences, if any, of this appalling act for the Australian public and government? It is becoming increasingly acknowledged that a similar style attack in Australia is “probable,” according to ...

No issue has aroused more partisan passion over the past six years than the Affordable Care Act. Yet the law is playing only a secondary role in the U.S. elections. Sure, Republican presidential candidates cater to their base by vowing to repeal and replace Obamacare, and on the Democratic side, Senator Bernie Sanders of Vermont promises to replace it with ...

US politics today presents, to this foreign observer at least, a very un-American spectacle. A country originally built on immigration is awash with popular hatred against immigrants. A candidate of the right rails against free trade and foreigners, while that of the left proclaims his faith in socialism. Xenophobia is rife. Class war seems perilously close to the surface. The ...

The Chinese Communist Party’s relationship with the private sector is a sensitive one, both in ideological and practical terms. Though it remains a nominally communist state, China’s role as an economic superpower is owed entirely to the fundamental overhaul of its state-controlled economy. Starting with Deng Xiaoping’s “Reform and Opening” campaign in 1978, the government gradually ceded control over the ...

BLOOMBERG U.S. stock-index futures advanced and the dollar headed for the longest rally since October against the yen as speculation grew the world’s largest economy is strong enough to withstand another interest-rate increase. Oil rose for the first time in three days, sending Russia’s ruble toward the biggest gain in more than a week. Contracts on the Standard & Poor’s ...

ABU DHABI / EMIRATES BUSINESS The Emirates Securities Market Index has decreased by -0.47% to close at 4393.78 points. Accordingly the Market Capitalization has lost AED 3.38 billion attaining AED 712.73 billion. A total of 398.31 Million Shares were traded with a total value of AED 447.32 million during the trading session of 2016-03-28 through 5102 transactions. The number of companies which ...

Tokyo / Reuters Driving interest rates below zero, the Bank of Japan (BOJ) has turned a comatose government bond market into an enormous free-for-all, complicating the central bank’s own efforts to kick-start growth and end deflation. The $9 trillion market for Japanese Government Bonds (JGBs) had been all but paralysed since the BOJ began a massive monetary easing three years ...

Bloomberg Bank of Korea (BOK) released names of four board member candidates to replace members whose terms end on April 20 The BOK recommended Lee Il Houng, head of Korea Institute for International Economic Policy. Finance Ministry recommended Cho Dong Chul, chief economist for state-run Korea Development Institute. Financial Services Commission recommended Standing Commissioner Koh Seung Beom. The Korea Chamber ...