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Arab Today, arab today

Latest News

US hits Myanmar general in new global rights sanctions German pilots' union calls first-ever Ryanair strike on Friday UN General Assembly opens meeting on Jerusalem EU approves Lufthansa buyout of Air Berlin assets Ryanair says formally recognises pilots' union Erdogan urges world 'not to be bought' by Trump's dollars in Jerusalem vote JPMorgan 'seriously breached anti-money laundering regulations' JPMorgan 'seriously breached anti-money laundering regulations' Sixteen dead in sauna fire in S. Korea The refugee families living among filth and faeces in camp in Greece

Business

JPMorgan 'seriously breached anti-money laundering regulations'

Arab Today, arab today JPMorgan 'seriously breached anti-money laundering regulations'

Zurich - Arab Today

JP Morgan's Swiss unit "seriously breached anti-money laundering regulations" in its dealings with Malaysian sovereign wealth fund 1MDB, the Swiss financial markets watchdog found Thursday. The US bank's subsidiary "failed to adequately identify the increased money laundering risks in some of the business relationships related to this case", the FINMA body said, referring to a money-laundering scandal that has shaken

JPMorgan 'seriously breached anti-money laundering regulations'

Arab Today, arab today JPMorgan 'seriously breached anti-money laundering regulations'

Zurich - Arab Today

JP Morgan's Swiss unit "seriously breached anti-money laundering regulations" in its dealings with Malaysian sovereign wealth fund 1MDB, the Swiss financial markets watchdog found Thursday. The US bank's subsidiary "failed to adequately identify the increased money laundering risks in some of the business relationships related to this case", the FINMA body said, referring to a money-laundering scandal that has shaken

Eni and Shell to stand trial in Italy over Nigeria kickback scandal

Arab Today, arab today Eni and Shell to stand trial in Italy over Nigeria kickback scandal

Milan - Arab Today

Italian giant Eni and fellow petroleum company Shell will stand trial in Italy over allegations of bribery and corruption in the 2011 purchase of an offshore oil block in Nigeria. A judge in Milan ordered Eni, Shell and key figures such as Eni chief Claudio Descalzi and his predecessor Paolo Scaroni to stand trial in proceedings to begin March 5,

Saudi projects budget deficit for fifth year running

Arab Today, arab today Saudi projects budget deficit for fifth year running

Riyadh - Arab Today

Saudi Arabia said Tuesday it expected to post a budget deficit for the fifth year in the row in 2018, forecasting a shortfall of $52 billion due to low oil prices. Revenues are predicted to be 783 billion riyals ($208.8 billion) and spending is expected to be 978 billion riyals ($260.8 billion), the highest in the oil-rich kingdom's history, according

German business morale eases back from record high

Arab Today, arab today German business morale eases back from record high

Frankfurt - Arab Today

German business confidence dipped slightly below last month's record high but remains "excellent", a closely-watched survey found Tuesday, as Europe's top economy ends 2017 in a party mood. The Ifo economic institute's business climate index hit 117.2 points in December, slightly below November's historic 117.5 points. "German businesses are full of festive spirit," Ifo president Clemens Fuest said in a

Nasdaq tops 7,000 for first time as Wall Street rally continues

Arab Today, arab today Nasdaq tops 7,000 for first time as Wall Street rally continues

New York - Arab Today

Wall Street soared ever higher on Monday as investors cheered by the looming Republican tax bill vote pushed the major indices to new all-time records. The tech-heavy Nasdaq topped 7,000 points for the first time ever shortly after 1700 GMT, putting it up 0.9 percent on the prior day's close. Meanwhile the blue-chip Dow Jones Industrial Average had gained 0.8

ECB ups eurozone growth forecasts for 2017-2019

Arab Today, arab today ECB ups eurozone growth forecasts for 2017-2019

Frankfurt - Arab today

The European Central Bank on Thursday significantly lifted its eurozone growth forecasts for the coming years, as well as unveiling its first estimate for 2020. The Frankfurt institution now expects growth of 2.4 percent in 2017, 2.3 percent in 2018 and 1.9 percent in 2019. In its previous projections back in September, the bank had predicted growth of 2.2, 1.8

ECB leaves key interest rates unchanged

Arab Today, arab today ECB leaves key interest rates unchanged

Frankfurt - Arab Today

The European Central Bank left its headline interest rates unchanged at historic lows and kept its massive support for the eurozone economy in place at its final meeting of the year Thursday, a spokeswoman said. The Frankfurt institution held its main refinancing rate at zero percent, the rate on the marginal lending facility at 0.25 percent, and on deposits at

Disney says to buy parts of 21st Century Fox for $52.4 bn

Arab Today, arab today Disney says to buy parts of 21st Century Fox for $52.4 bn

New York - Arab Today

Walt Disney Co. said Thursday it had reached a deal to buy 21st Century Fox for $52.4 billion (44.3 billion euros) in stock after the spinoff of the firm's television stations and Fox News channel. "Building on Disney's commitment to deliver the highest quality branded entertainment, the acquisition of these complementary assets would allow Disney to create more appealing content,

Energy costs push US consumer inflation above Fed target to 2.2%

Arab Today, arab today Energy costs push US consumer inflation above Fed target to 2.2%

Washington - Arab Today

Mounting gasoline prices helped drive US consumer inflation higher in November, pushing the annual measure above the US central bank's target, according to a government report Wednesday. The news comes as the Federal Reserve is poised to raise interest rates later on Wednesday, the third rate hike of the year, and gives ammunition to those worried about the dangers of

France's Unibail-Rodamco to buy Australia's Westfield

Arab Today, arab today France's Unibail-Rodamco to buy Australia's Westfield

Paris - Arab Today

French property giant Unibail-Rodamco is to buy Australia's Westfield in a deal to create "a global property leader", the two groups said in a statement. The deal, which values Westfield at $24.7 billion, would "create the world's premier developer and operator of flagship shopping destinations". Source:AFP

ANZ Bank sells life insurance arm to Zurich for US$2.14 bn

Arab Today, arab today ANZ Bank sells life insurance arm to Zurich for US$2.14 bn

Sydney - Arab Today

ANZ Bank said Tuesday it has offloaded its life insurance arm to Zurich for Aus$2.85 billion (US$2.14 billion), making the Swiss giant the country's largest retail life insurer by premiums. It follows National Australia Bank selling most of its life insurance business to Japan's Nippon and Commonwealth Bank shedding its insurance arm to AIA in recent years as Australia's top

Apple to buy song recognition app Shazam

Arab Today, arab today Apple to buy song recognition app Shazam

New York - Arab Today

Apple will buy leading song recognition app Shazam, the companies said Monday, in a fresh bid by the tech giant to gain an edge in online music. "Apple Music and Shazam are a natural fit, sharing a passion for music discovery and delivering great music experiences to our users," Apple said in a statement without disclosing financial terms. Source:AFP

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