INTERNATIONAL. Classical political economists like Adam Smith or David Ricardo never used the term “economy” by itself. They always used the term “political economy.” For classical economists, it was impossible to understand politics without economics or economics without politics.
The two fields are certainly different but they are also intimately linked. The use of the term “economy” by itself did not begin until the late 19th century.
Smith understood that while an efficient market would emerge from individual choices, those choices were framed by the political system in whi
UAE. Jupiter to be appointed as delegate investment advisor on the Emirates Active, Balanced and Conservative Managed Funds; will also be appointed to manage the new Emirates Global Quarterly Income Fund.
UAE. U.S. Markets rise to new highs but January government shutdown looms; Crude oil prices could weaken further in 2014; Palladium, Platinum remain long term buys; Eurozone data robust but talk of negative rates - Sell Euro into strength.
KUWAIT. Strong economic fundamentals and improving market sentiments continue to drive the real estate market in the country. In addition, Dubai winning the bid to host the World Expo 2020 is expected to provide a fresh impetus to the sector.
SYRIA. A UN probe into rights violations committed during 33 months of brutal conflict "has produced massive evidence ... (of) very serious crimes, war crimes, crimes against humanity," United Nations human rights chief Navi Pillay said.
UAE. Gulf countries CFOs report higher optimism compared with North Africa and Levant; 1 in 4 Middle East companies do not have a business continuity plan in place; 41% of ME CFOs feel more optimistic about their companies.
INTERNATIONAL. Gold's depressed price this year has concealed a massive transfer of wealth from Western financial institutions to Eastern households; China has been diversifying its foreign exchange reserves into gold.
LEBANON. "Continued domestic political volatility, repeated security breaches, a wave of kidnappings, direct and indirect spillovers from the Syrian conflict, institutional paralysis, and a persistently uncertain outlook were the main factors that affected the confidence of Lebanese consumers."