This picture released by the official website of the Iranian Defense Ministry on Sunday, March 12, 2017, shows a domestically manufactured tank called “Karrar” in an undisclosed location in Iran. Iran’s semi-official Fars news agency is reporting that the country has unveiled the domestically manufactured tank and has launched a mass-production line.
Category: World News
Filmart: Chinese Actors Say Farewell to Hollywood
No longer content to play underdeveloped roles in overstuffed tentpoles, China’s screen talents are turning down L.A. offers in search of bigger paydays, greater exposure and meatier roles at home. Throughout the 1990s and 2000s, Hong Kong’s A-list talent weren’t considered true superstars until they had made their mark in Hollywood.
The Latest: Ousted S.Korea leader leaves presidential palace
In this Saturday, Feb. 25, 2017, file photo, a South Korean national flag with a picture of impeached South Korean President Park Geun-hye is seen during a rally opposing her impeachment in Seoul, South Korea. Hundreds of police officers, reporters and supporters of the ousted president have gathered near her Seoul home in anticipation of her return from the presidential palace.
Money laundering watchdog scrutinizes Facebook, social media
Award-winning reporter Elizabeth Thompson covers Parliament Hill. A veteran of the Montreal Gazette, Sun Media and iPolitics, she currently works with the CBC’s Ottawa bureau, specializing in investigative reporting and data journalism.
After recalls, marijuana industry focuses on sharing test results
… (Blair Gable/Reuters) Solomon Israel is a producer and writer for CBC News, based in Toronto. He’s been on the business news beat since 2011, with stints covering technology, world, and local news. He can be reached at solomon.israel@cbc.ca …
Week in Review: S&P 500 Suffers Worst Weekly Loss of 2017 as Crude Oil Hits Skids
Stocks are dragged from recent records this week as crude oil suffers a days-long selloff that pummeled it down to its lowest levels this year. Stocks were dragged from recent records this week as crude oil suffered a days-long selloff that pummeled it down to its lowest levels this year.
Berlin Airport Strike Strands Patrons at Biggest Travel Show
Visitors attending Europe’s biggest travel fair were stranded in Berlin as striking ground workers forced almost all flights in and out of the German capital to be canceled. About 670 arrivals and departures were scrapped at Berlin’s Tegel and Schoenefeld airports on Friday, after the Ver.di union called on more than 2,000 airfield and terminal employees to walk out in a pay dispute.
Negative sentiment, dollar demand hit shilling
The shilling has come under significant pressure and has shed value against the dollar to trade at 3,591.63/3,601.63 buying and selling respectively at mid-day on 9th March 2017 from 3383.56/3393.56 at the end of September 2016, according to Bank of Uganda data. For every dollar, Ugandans must now fork out an extra sh209 in a space of just six months as the green buck keeps strengthening against the shilling.
Oil Rises Off 3-Month Low, But Glut Worries Remain
Crude prices inched up on Friday after dropping to their lowest in more than three months the session before, pressured by concerns that a global supply glut is proving stubbornly persistent. U.S. West Texas Intermediate crude was up 37 cents, or 0.8 percent, at $49.65 a barrel at 0604 GMT.
Deadline on Soured Indian Loans Offers Opening to Private Equity
An impending round of bad-loan provisioning by Indian banks provides an opportunity for private equity and special-situation funds to pick up soured assets at lower prices. Brought on by the expiry of a central-bank deadline for lenders to clean up their balance sheets, the expected provisions will force them to recognize lower valuations on bad debt, making them easier to dispose, according to S. Sriniwasan, chief executive officer of the Kotak Special Situations Credit Fund.
The Market Is Suddenly Having Second Thoughts on Reflation
Global stocks have stalled, with the MSCI Emerging Market Index, a benchmark gauge for developing-country equities, down about 3 percent from the more than one-year high reached last month. U.S. stocks are down for a fourth day.
Emirates Chief Warns of `Gathering Storm’ From Discount Rivals
Emirates President Tim Clark said he’s bracing for a “gathering storm” as low-cost airlines encroach on the inter-continental routes around which the biggest long-haul carrier has built its business. Dubai-based Emirates sees threats across all markets from rivals spanning Norwegian Air Shuttle ASA to the Scoot unit of Singapore Airlines Ltd., Clark said Thursday in Berlin.
Samsung head Jay Y Lee denies bribery, embezzlement charges in Seoul trial
Jay Y. Lee, co-vice chairman of Samsung Electronics, is at the centre of a growing bribery, perjury and embezzlement scandal in South Korea. The head of South Korea’s Samsung Group, Jay Y. Lee, denies all charges against him, his lawyer said on Thursday, at the start of what the special prosecutor said could be the “trial of the century” amid a political scandal that has rocked the country.
William Morrison Posts Solid Full-Year Profits, Cautions on Imported Food Costs in 2017
Wm. Morrison Supermarkets posted it first full-year profits in five years Thursday but cautioned on “uncertain” conditions for grocery store companies in 2017. Wm. Morrison Supermarkets plc posted it first full-year profits in five years Thursday but cautioned on “uncertain” conditions for grocery store companies in 2017.
Oil Inches Back From $50 Ledge as U.S. Supply Stymies OPEC Cuts
Oil halted losses after the biggest drop in more than a year as record U.S. crude stockpiles began to raise doubts about the effectiveness of OPEC-led efforts to ease a global glut. Futures gained as much as 0.9 percent in New York after losing 5.7 percent the previous three sessions and threatening to slip below $50 for the first time since December.
Military-Grade Tech to Monitor Eggplants Rather Than Explosives
On a rooftop in the Jewish-Arab Tel Aviv neighborhood of Jaffa, a former military technologist and an ex-journalist sit in a transparent bio-dome where their robot is busy learning how to grow food. Flux IoT’s Eddy, a robot measuring less than a foot tall and resembling a life buoy, is built with military-grade sensors and armed with image-processing technology.
Oil Rises on Output Cuts
Oil prices climbed on Thursday after sharp losses the session before, buoyed by strong compliance with touted international production cuts, although a surge in U.S. crude inventories continued to drag. The Organization of the Petroleum Exporting Countries and other oil producers reached an agreement last year to cut output by almost 1.8 million barrels per day in the first half of 2017, with investors paying close attention to levels of compliance with the landmark deal.
OPEC’s Houston Huddle Only Deepens Dilemma of Extending Oil Cuts
OPEC ministers met with partners and rivals in Houston this week as they try to figure out whether to prolong production cuts. That decision only got harder.
North Korean Banks Barred From Swift Global Messaging System
North Korean banks subject to international sanctions have recently been banned by Swift from using its global financial messaging service, according to a statement from the Belgium-based Society for Worldwide Interbank Financial Telecommunication. Swift said it had recently been informed by Belgian authorities that they would no longer provide the “necessary authorizations” for it to continue offering services to North Korean banks covered by United Nations sanctions.
WikiLeaks Adds to Samsung Headaches With Claims of Spying TVs
For a company that has been mired in negative headlines for months, just about the last thing Samsung Electronics Co. needed was news its smart TVs could be used to spy on users.
Crude Falls on Expected Supply Build
Oil futures fell in Asian trade on Wednesday after industry data pointed to a potential ninth straight week of inventory builds, renewing concerns about an oversupply of oil despite output curbs by OPEC and non-OPEC members. Brent futures fell 29 cents, or 0.5 percent, to $55.63 as of 0504 GMT after settling down 0.2 percent in the previous session.
Oil Prices Little Changed on Mixed Saudi Messages before U.S. Stock Data
Oil prices were little changed on Tuesday, giving up gains after Saudi Arabia’s oil minister gave mixed messages on future OPEC production cuts, while the market also braced for data that was expected to show a ninth straight weekly increase in U.S. crude inventories. At the CERAWeek energy conference in Houston, Saudi Oil Minister Khalid Al-Falih said last year’s agreement by OPEC and non OPEC countries to curb supplies and boost prices has improved oil market supply and demand fundamentals.
Vancouver’s foreign buyer tax sparked Chinese interest in rest of Canada, report finds
TChinese enquiries of the listings in the Vancouver real estate market slumped by 81 per cent year-over-year in July 2016, the month the city’s 15 per cent foreign buyers tax tax was announced, according to a new report from Sotheby’s and Juwai.com. Chinese property enquiries in several big Canada markets spiked in the months after Vancouver introduced its foreign buyers tax, according to a report based on data culled from searches on a top Chinese foreign property website.
LinkedIn Barred from Public Access in Russia
Russia blocked access last year after a court found LinkedIn guilty of violating a law requiring companies holding Russian’s citizen’s data to store it on servers located in the country. Microsoft’s LinkedIn failed to reach an agreement with Russian authorities to allow public access to the employment networking site, the company and Russia’s communications regulator said on Tuesday.
Alibaba’s Jack Ma Wants Serious Jail Time for Counterfeiters
Billionaire Alibaba-founder Jack Ma wants China’s top lawmakers to come down harder on fake goods — the very same plea voiced by global brands who’ve accused the e-commerce service of harboring knock-offs. The Alibaba Group Holding Ltd. chairman appealed to the National People’s Congress convening in Beijing this week to penalize counterfeiters as harshly as drunk drivers.
Belgian-German Chipmaker X-Fab Plans $530 Million IPO
German-based chipmaker X-Fab Silicon Foundries SE is raising about 500 million euros via an initial public offering in order to fund its global production expansion. The company with headquarters in Erfurt, central Germany, said Tuesday it intends to list shares on the Euronext Paris exchange.
Oil Holds Steady For Third Day
Oil prices were little changed for a third session on Tuesday, with investors searching for direction as concern over rising U.S. shale output offsets production cuts by OPEC and non-OPEC members. As of 0545 GMT, brent crude was down 11 cents, or 0.2 percent, at $55.90 a barrel, with a firmer dollar, unchanged against a basket of other currencies, putting some pressure on dollar denominated oil prices.
Nikkei Closes Lower, Small Caps Buck Trend
Japan’s Nikkei share average edged down on Tuesday, following Wall Street’s lead, with investors deterred by geopolitical tensions after the North Korean missile tests, while buying continued to fuel in into small cap stocks.
Asia Stocks Rise as Markets Await U.S. Jobs Data
Markets in Asia largely recovered from a Deutsche Bank-led decline in financial stocks in the morning, as attention moved to Friday’s release of U.S. jobs data. Australia’s S&P/ASX 200 reversed early declines to trade up 0.3%, though mining stocks continue to be weighed down by softer commodity prices.
Snowbirds may soon be allowed to stay 8 months in U.S., but risk losing provincial health benefits
Canadians Gilles Dupont, left, and Monique Dupont sit in the sun, in Dania Beach, Fla. A bipartisan bill currently before the U.S. Congress would allow Canadians over the age of 55 to stay south of the border for up to eight months of the year.
Oil Whipsaws as Output Seen Rising, More OPEC Cuts Discussed
Oil prices whipsawed on Monday, with benchmark Brent rising and U.S. crude easing slightly, after the market pushed higher early in the day on the Iraqi oil minister’s comments that cuts might persist into the second half of the year. Output forecasts from oil ministers of crude-producing countries buffeted the market as industry leaders gathered at the annual CERAweek energy conference in Houston.
Oil Whipsaws as Production Seen Rising, More OPEC Cuts Discussed
Oil prices whipsawed Monday, turning negative after the International Energy Agency forecast potential shale oil growth and waning European refined product demand, which bodes poorly for global efforts to remove a glut. In a session driven by headlines, oil earlier strengthened slightly after Iraq’s oil minister said the Organization of the Petroleum Exporting Countries would likely need to extend its production cuts into the second half of 2017.
OPEC on Track to Extend Production Cuts
OPEC Secretary General Mohammad Sanusi Barkindo said that while it is “premature” to say for certain whether the oil cartel will extend its production cuts past May, the current cuts could be described as “so far, so good.”
Korean Companies Face China Crisis as Missile Boycott Grows
Lotte Group , the Korean conglomerate that covers shopping malls to sweet chocolate, is under attack in China. It faces a consumer boycott that threatens to spill over and affect the products of other Korean companies.
Standard Life to Buy Aberdeen in $4.7 Billion Stock Deal
Standard Life Plc, Scotland’s largest insurer, agreed to acquire Aberdeen Asset Management Plc for about 3.8 billion pounds , a deal that would create one of Europe’s biggest fund managers. Their stock soared.
Kenyan Minister Opposes Regulations to Break Up Vodafone Unit
Kenya’s government opposes using regulation to force East Africa’s biggest mobile operator Safaricom Ltd. to be broken up, after a draft study found the company is dominant in the country’s telecommunications industry, Information, Communications and Technology Secretary Joseph Mucheru said. The government disapproves of measures that would stifle innovation as it wants companies to expand by investing in new products and technology, Mucheru said in an interview Friday from the capital, Nairobi.
Equity Futures Drop as Risk Appetites Hit
U.S. stock futures dropped but Asian shares were resilient on Monday as investors weighed the near-certain prospect of an interest rate hike in the United States this month against news of China’s slower 2017 growth target. Risk appetites also took a hit on rising geopolitical tensions in East Asia, as North Korea fired four ballistic missiles early in the day, while a spat between China and South Korea over missile defense deepened.
Saudi Aramco’s Green Energy Push Seen Widening Appeal of IPO
Aramco is the world’s largest oil company, but when it sells shares next year its foray into renewables is what may lure investors who would otherwise be forced to stay away. Saudi Arabian Oil Co., as it is formally called, is considering investments of as much as $5 billion in renewable energy, part of the kingdom’s effort to reduce the amount of oil feeding domestic energy needs.
Papua New Guinea Asks Energy Explorers: Can We Keep Some of Our Gas?
Less than three years after it began sending one of its most precious resources overseas, Papua New Guinea’s future may be determined by how much of it stays at home. The Pacific island nation wants some of the world’s top explorers to allow a portion of its natural gas to stay in the country, said Nixon Duban, the minister for the government’s petroleum and energy department.
Yen Gains, Topix Falls on Korean Missile Report: Markets Wrap
U.S. stock futures were also lower as Japan Prime Minister Shinzo Abe said the government will hold a National Security Council meeting today after North Korea fired four ballistic missiles. The move comes as South Korea and the U.S. undertake annual military drills that Pyongyang has called a prelude to an invasion. Tensions have been rising over North Korea, which also conducted a missile test during Abe’s state visit to the U.S. last month and is suspected of being behind the assassination of its leader’s half brother in Malaysia.