Tag: deal

  • Trump signs deal to end US government shutdown

    Trump signs deal to end US government shutdown

    A brief U.S. government shutdown ended on Friday after Congress passed and President Donald Trump signed into law a wide-ranging deal that is expected to push budget deficits into the $1 trillion-a-year zone.

    The bill was approved by a wide margin in the Senate and it survived a rebellion of 67 conservative Republicans in the House of Representatives thanks to the support of some Democrats. Those conservatives were mainly angry about non-military spending increases.

    Trump’s signature brought an end to a partial government shutdown – or closure of federal agencies – that had been triggered in the early hours of Friday as Congress was still debating the budget deal.

    It was the second shutdown this year under the Republican-controlled Congress and Trump, who played little role in attempts by party leaders this week to end months of fiscal squabbling.

    In a Twitter post that acknowledged the misgivings of fiscal conservatives, the Republican president said after signing the measure, “Without more Republicans in Congress, we were forced to increase spending on things we do not like or want in order to finally, after many years of depletion, take care of our Military” with additional funding.

    Trump also wrote that negotiations will “start now!” on an immigration measure that he and Democrats have been battling over for months.

    The deal, the fifth temporary government funding measure for the fiscal year that began Oct. 1, replenishes federal coffers until March 23, giving lawmakers more time to write a full-year budget.

    It also extends the U.S. government’s borrowing authority until March 2019, sparing Washington politicians difficult votes on debt and deficits until after mid-term congressional elections in November.

    The Republican Party was once known for fiscal conservatism, but congressional Republicans and Trump are now quickly expanding the U.S. budget deficit and its $20 trillion national debt. Their sweeping tax overhaul bill approved in December will add an estimated $1.5 trillion to the national debt over 10 years.

    Nearly $300 billion in new spending that is included in the bill approved on Friday will mean the annual budget deficit will exceed $1 trillion in 2019, said the Committee for a Responsible Federal Budget, a private fiscal policy watchdog group in Washington.

    Friday’s budget deal allows for $165 billion in additional defense spending over two years, which will help Trump deliver on his promise to boost the military.

    That won over many Republicans, but some were furious over the $131 billion extra made available for non-military spending, including health and infrastructure.

    None of the added spending will be offset by budget savings elsewhere or revenue increases, relying instead on government borrowing. There also is no offset reduction for nearly $90 billion in new disaster aid for U.S. states and territories ravaged by hurricanes or wildfires last year.

    The U.S. Office of Personnel Management sent a notice to millions of federal employees Friday morning after Trump signed the measure, telling them to report to work.

  • England midfielder Jack Wilshere expects new arsenal deal

    Injury-plagued England midfielder Jack Wilshere expects to sign a new Arsenal contract in the coming weeks.The 25-year-old, whose current deal expires at the end of the season, has made 15 appearances this season, having returned from a calf injury in August.

    He spent last season on loan at fellow Premier League side Bournemouth

    “I definitely want to be here. I want to help Arsenal get to where they should be,” Wilshere, who made his Gunners debut in 2008, told Sky Sports.

    “We just have to sort things out and I’m sure that will happen in the next couple of weeks and it will be sorted.”

    Wilshere has started two league games for Arsenal this season, including Saturday’s 1-0 win over Newcastle United.

    He is chasing a recall to the England team for the 2018 World Cup having received support from Arsenal manager Arsene Wenger last month.

    “I think I’ve proved to myself that I can play in the Premier League and I trust my body again and that I can affect games. I can have a positive effect on this team and then maybe we’ll see if the England manager picks me,” he said.

    Wilshere won the last of his 34 England caps at Euro 2016 in the last 16 defeat by Iceland.

    England manager Gareth Southgate has insisted Wilshere cannot be included if he is not playing regularly for Arsenal.

    BBC Sports

  • Kevin de Bruyne and Fernandinho close to new deals for Man City

    Manchester City are close to agreeing a new long-term contract with star midfielder Kevin de Bruyne. The Belgium international, 26, signed a six-year deal when he joined City from Wolfsburg for a club record £55m in 2015.

    City want to recognise De Bruyne’s stellar performances in their 16-match winning run in the Premier League, in addition to extending his deal.

    “I am very happy and I have no feeling to go anywhere else,” De Bruyne said.

    The former Chelsea player has scored six goals and assisted eight in the Premier League this season and is already a leading contender for the major player of the year awards.

    City also expect to agree a new contract with Brazilian midfielder Fernandinho, whose deal expires at the end of the season.

    BBC Sports

  • African market to benefit from ‘DEAL 2017’

    The African region will witness the largest show in the amusement industry – DEAL 2017 (Dubai Entertainment Amusement and Leisure Show) a trade show with the aim to provide an effective platform for the stakeholders within the African entertainment and amusement sector. In the wake of growing developments in the African region, it is essential for shows like DEAL to bring key players of the amusement and leisure industry to converge at a focal point to showcase ingenious products which can benefit the market.

    “DEAL has been steadily gaining popularity on all fronts as the African amusement sector will benefit immensely from the show. The future looks promising for the African amusement sector which has reported a steady growth on the revenue forefront. Africa has been growing in terms of tourism and infrastructure. We have full faith that we are going in the right path and are confident that the amusement industry in Africa will yield 100 percent results. We are quite pleased to see new faces from Africa at DEAL 2017 and are sure that they will get to meet new contacts to expand their business,” said Mr. Sharif Rahman, CEO, IEC.

    According to Forbes magazines, Africa will see new malls in the next two years where more global brands will find more space and better infrastructure. It adds that the continent is home to 45 million households having what it terms as ‘discretionary income’. With the new malls attracting brands that were only known through cable television, Forbes says the African market can no longer be viewed as a secondary one.

     

    Africa’s population is set to grow to 2.3 billion by 2050. In contrast to the rest of the world, however, its booming population is getting younger. African millennials are changing their consumer spending patterns, from markets to malls, where they can eat, socialize and get entertained at Family Entertainment Centers (FEC)s apart from shopping. Also there have been key amusement parks in Egypt, Nigeria, Tunisia and South Africa which have enticed people around the African region.

     

    The tourism industry in Africa shows incredible opportunity for growth and, despite some challenges, many tourism businesses are showing increasing interest in investing in the continent’s tourism offerings. Themeparks and malls are set to be a crowd puller to raise the revenues to contribute to the African countries GDP. African tourism has seen a boost is simultaneous to the economic growth being experienced across many parts of the continent. Reports predict that direct contribution of Travel & Tourism to GDP will increase by 4.8% per annum, to USD121.3bn which is approximately 3.2% of GDP by 2026.

     

    The Dubai Entertainment Amusement and Leisure (DEAL) show has shaped the region’s entertainment industry for the past two decades and it has brought together great minds and their world class innovations all under one umbrella. DEAL has led the amusement and entertainment space during this period and the testimony to this is the fact that exhibitors at DEAL 2016 have signed multi-million dollar contracts in just 3 days. Foraying into the 23rd edition, DEAL 2017 expects to witness an even larger gathering of key players and visitors in the amusement industry from Middle East, US, Mediterranean, Asian, and especially African countries.

     

    DEAL, since its inception in 1995 has developed into an unparalleled platform that gathers exhibitors, buyers, and professionals from the international amusement and entertainment industry. DEAL is the region’s most anticipated and leading attraction for global and local stakeholders in the amusement and entertainment industries. The show is slated to be held from 27th – 29th March 2017 at Halls 1, 2, 3 & 4 at the iconic Dubai World Trade Centre.

  • Oil price hits highest since mid-2015 as OPEC and rivals agree historic deal

    Oil price hits highest since mid-2015 as OPEC and rivals agree historic deal

    Oil prices shot up over four per cent to their highest level since 2015 early on Monday after Organization of the Petroleum Exporting Countries, OPEC and other producers over the weekend in Vienna reached first output cut deal since 2001 .

    They jointly reduced output in order to rein in oversupply and prop up the market.

    Brent sweet crude futures, the international benchmark for oil prices, soared to 57.89 dollars per barrel in overnight trading between Sunday and Monday, its highest level since July 2015.

    U.S. West Texas Intermediate (WTI) crude futures also hit a July 2015 high of 54.51 dollars a barrel.

    With the deal finally signed after a year,the market’s focus will now switch to compliance with the agreement.

    ANZ bank said that Saudi Aramco, Saudi Arabia’s state-controlled oil company, had informed customers that their allocations would be reduced in January 2017, in line with the recent OPEC production cut agreement.”

    OPEC has said it will slash output by 1.2 million barrels per day from Jan. 1, with top exporter Saudi Arabia cutting around 486,000 bpd in a bid to end overproduction .

    Oversupply has dogged markets for over two years and pushed the economies of many oil exporting countries into crisis.

    On Saturday, producers from outside the 13- country OPEC group agreed to reduce output by 558,000 bpd, short of the initial target of 600,000 bpd.