Two years ago, Alan Kurdi, the three-year-old Syrian boy photographed lying face down on a beach near the Turkish resort of Bodrum, stirred the conscience of many Europeans. That moment of guilt and shame already seems past. We’ve barely noticed that since Kurdi’s death at least 8,500 people, many of them unescorted children, have died or disappeared while attempting to ...
Read More »Kenya’s top court gives democracy a second chance
With its decision to nullify the results of last month’s presidential election, Kenya’s top court has invalidated the votes of some 15 million citizens. It has also struck a blow for democracy that will reverberate across Africa. Now comes the hard part: Holding new elections within 60 days that are untainted by the irregularities, intimidation and violence that have scarred ...
Read More »What Trump owes the ‘Dreamers’
President Donald Trump is not generally the reticent type. When it comes to the fate of almost 800,000 young immigrants known as Dreamers, however, he has been unusually quiet. Trump is under pressure from conservative state officials who are threatening to sue the federal government next week if he doesn’t end a 2012 program that enables so-called Dreamers — young ...
Read More »Demonetisation, Modi’s biggest move, a total bust
When India’s prime minister announced last November that 86% of India’s currency would be worthless in hours, he presented the decree as a well-thought-out measure to attack cash “hoarded by anti-national and anti-social elementsâ€. We were led to believe that honest taxpayers would line up to return their high-value currency notes, but these “anti-national and anti-social elements†would be unable ...
Read More »Believe China’s Nigerian boondoggle when you see
Just when the world thought China was retreating — pushing acquisitive private companies to relinquish their global shopping sprees — it looks like Beijing might be getting out its check book again. China Civil Engineering Construction Corp. will build a $5.8 billion hydroelectric power station in eastern Nigeria, with 85 percent of the funding to come from Beijing’s Export-Import Bank, ...
Read More »America’s superstar companies are a drag on growth
Here’s a story about the US economy that more people are telling these days. Since the 1980s, antitrust enforcement has gotten weaker. As a result, a few big companies have managed to capture a much bigger share of the market in various industries. Technology may have helped too, by letting big companies spread their geographic reach, and by creating network ...
Read More »Dollar slips, Treasuries rise ahead of a big week for central bank
Bloomberg The dollar slipped and Treasuries rose as traders shifted focus from North Korea to a week packed with central-bank decisions, Federal Reserve speakers and economic data that will help illuminate the path of the global economy. The S&P 500 fell after a six-day rally as US markets reopened following the Labor Day holiday. The Stoxx Europe 600 Index traded ...
Read More »Kuwait outperforms on FTSE hopes, Dana keeps rising in UAE
Reuters Kuwait’s stock market outperformed on Tuesday as it reopened after Eid al-Adha holidays, while Abu Dhabi-listed Dana Gas continued surging on the back of a deal to obtain payments from Iraqi Kurdistan. The Kuwaiti index climbed 0.4 percent. Many investors hope index compiler FTSE will decide at the end of this month to upgrade Kuwait to secondary emerging market ...
Read More »Nakheel all geared up to launch AED3.2bn projects at Cityscape
Dubai / WAM Dubai-based master developer Nakheel is gearing up to unveil a diverse range of projects, with a collective value of collectively more than AED3.2 billion, at Cityscape Global 2017 next week, with the launch of six new residential, retail and hospitality developments at four of its communities in Dubai, including its world-famous flagship master development, Palm Jumeirah. The ...
Read More »5.5 million people use RTA services during Eid holiday
Dubai / WAM The Roads and Transport Authority (RTA) has revealed that the total number of passengers lifted by public transport and taxicabs in Dubai during Eid al-Adha holiday has topped 5,454,714. “The RTA has lifted 5,454,714 passengers during Eid al-Adha holiday, where the number of Metro riders reached 1,829,356 passengers; with 1,177,502 passengers carried on the Red Line compared ...
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