New law in Egypt will see government regulate media

Egyptian President Abdel Fattah Al-Sisi has signed a new law today that will further control the media and regulate members of a new media council. The council will be given the power to fine or suspend publications and broadcasters and to allow foreign media permits or revoke them. The law, which was approved by parliament and signed into law by Al-Sisi, will create a Supreme Council for the Press and Media where a chairman will be picked by Al-Sisi and where members will be appointed based on nomination by bodies like parliament and the judiciary. The new council will be tasked with suing media organisations that violate enforced regulations, creating a list of penalties, fining media organisations that are in […]

New law in Egypt will see government regulate media

Egyptian President Abdel Fattah Al-Sisi has signed a new law today that will further control the media and regulate members of a new media council. The council will be given the power to fine or suspend publications and broadcasters and to allow foreign media permits or revoke them. The law, which was approved by parliament and signed into law by Al-Sisi, will create a Supreme Council for the Press and Media where a chairman will be picked by Al-Sisi and where members will be appointed based on nomination by bodies like parliament and the judiciary. The new council will be tasked with suing media organisations that violate enforced regulations, creating a list of penalties, fining media organisations that are in […]

Iraq female journalist abducted by Shia militias in Baghdad

An Iraqi journalist was kidnapped by unidentified gunmen wearing security services’ uniforms from her home in Baghdad yesterday, police and relatives said, prompting Prime Minister Haider Al-Abadi to order an investigation. Afrah Al-Qaisi is an outspoken critic of government institutions in satirical columns she writes for several local newspapers and media outlets. Al-Qaisi used to work for the pan-Arab, Saudi-owned newspaper Asharq Al-Awsat. Iraq’s Interior Ministry said in a statement that it had formed a team to look into her abduction. The gunmen took Al-Qaisi from the predominantly Sunni southern Saydiya district of the capital where she lived with her family, according to Ziyad Al-Ajili, head of the Iraqi Journalistic Freedoms Observatory. “They separated the children from their mother after […]

Iraq female journalist abducted by Shia militias in Baghdad

An Iraqi journalist was kidnapped by unidentified gunmen wearing security services’ uniforms from her home in Baghdad yesterday, police and relatives said, prompting Prime Minister Haider Al-Abadi to order an investigation. Afrah Al-Qaisi is an outspoken critic of government institutions in satirical columns she writes for several local newspapers and media outlets. Al-Qaisi used to work for the pan-Arab, Saudi-owned newspaper Asharq Al-Awsat. Iraq’s Interior Ministry said in a statement that it had formed a team to look into her abduction. The gunmen took Al-Qaisi from the predominantly Sunni southern Saydiya district of the capital where she lived with her family, according to Ziyad Al-Ajili, head of the Iraqi Journalistic Freedoms Observatory. “They separated the children from their mother after […]

Morocco backtracks and reaffirms Mauritania’s sovereignty

Morocco’s King Mohammed VI called Mauritanian President Mohamed Ould Abdel Aziz yesterday and reiterated Rabat’s belief in Mauritanian sovereignty over its land after controversial remarks delivered by a Moroccan opposition politician, the Huffington Post Arabic reported. The telephone call aimed to “reinforce the mutual relations between the two countries,” the Post cited a Mauritanian news agency as saying, without giving more details. A Mauritanian government official, preferring not to be named, said: “The telephone call came as a measure to contain the tension which followed the remarks of Hamid Chabat, the leader of the Moroccan Independence Party, who considered Mauritania as Moroccan territory.” In response to the remarks, the ruling party in Mauritania announced freezing all contacts with the Moroccan opposition […]

Morocco backtracks and reaffirms Mauritania’s sovereignty

Morocco’s King Mohammed VI called Mauritanian President Mohamed Ould Abdel Aziz yesterday and reiterated Rabat’s belief in Mauritanian sovereignty over its land after controversial remarks delivered by a Moroccan opposition politician, the Huffington Post Arabic reported. The telephone call aimed to “reinforce the mutual relations between the two countries,” the Post cited a Mauritanian news agency as saying, without giving more details. A Mauritanian government official, preferring not to be named, said: “The telephone call came as a measure to contain the tension which followed the remarks of Hamid Chabat, the leader of the Moroccan Independence Party, who considered Mauritania as Moroccan territory.” In response to the remarks, the ruling party in Mauritania announced freezing all contacts with the Moroccan opposition […]

Trump Tweets “Thanks Donald” For Highest Consumer Confidence In 15 Years

When we observed yesterday that according to the latest Conference Board data, US consumer confidence had soared to 113.7, the highest print since August 2001, we had just one question: would Trump take credit for the spike…

 

… which even the organization behind the index admitted was driven entirely by hope in the Trump administration, as the rebound was “due solely to increasing Expectations which hit a 13-year high”

The post-election surge in optimism for the economy, jobs and income prospects, as well as for stock prices which reached a 13-year high, was most pronounced among older consumers.”

Meanwhile, absent hope for the future, reality for most US consumers deteriorated and their assessment of current conditions declined, with those saying business conditions are “good” decreased slightly from 29.7 percent to 29.2 percent, while those saying business conditions are “bad” increased from 15.2 percent to 17.3 percent.

As the Conference Board correctly notes, consumers’ “continued optimism will depend
on whether or not their expectations are realized.”

One person, however, who is quite confident the surge in confidence will continue, was President-elect Donald Trump, who in a late Tuesday night tweet, credited himself for the surge in optimism on Twitter, writing “Thanks Donald!”

The U.S. Consumer Confidence Index for December surged nearly four points to 113.7, THE HIGHEST LEVEL IN MORE THAN 15 YEARS! Thanks Donald!

— Donald J. Trump (@realDonaldTrump) December 28, 2016

Trump’s latest tweet follows a similar one from Monday night when he tweeted that “The world was gloomy before I won – there was no hope. Now the market is up nearly 10% and Christmas spending is over a trillion dollars!”

The world was gloomy before I won – there was no hope. Now the market is up nearly 10% and Christmas spending is over a trillion dollars!

— Donald J. Trump (@realDonaldTrump) December 26, 2016

As we asked on Monday, “we wonder what Trump will sat if/when Goldman Sachs stops rising and stocks tumble (“never gonna happen”, probably The Fed’s fault after all), but perhaps even more importantly, how does he feel about the $1.2 trillion of value he has erased from global capital markets (equity and debt) since his election?”

 

For now Trump is clearly eager to take credit for the surge in markets to record highs, as well as the associated surge in consumer confidence, both of which however have been driven by market hopes that Trump will reflate assets, something which was clearly lost on the latest UMichigan consumer confidence survey which showed US inflation expectations are the lowest on record. We doubt he will be as vocal when the hangover from the recent rally finally hits, unless of course, stocks manage to last the next four years without any corrections, an otherwise laughable prospect which however in this strange “new abnormal”, has to be taken quite seriously.

The post Trump Tweets “Thanks Donald” For Highest Consumer Confidence In 15 Years appeared first on crude-oil.top.

Israel downgrades ties with UN Security Council members

Israeli Prime Benjamin Netanyahu decided on Monday to reduce its diplomatic ties with the member states of the UN Security Council, which passed a resolution last week that condemned Israeli settlement activities in occupied Palestinian territories. According to CNN, Israel limited working ties and high-level visits with UNSC members, including permanent members such as Britain, France, Russia and China, though the United States’ diplomatic mission was spared Netanyahu’s ire. The stepping down of ties included Israeli cancelation of planned state visits by diplomats from these countries, reducing relations to a minimum level with the embassies of these countries in Israel and conducting no meetings with their representatives. Israel has not withdrawn any of its ambassadors, nor has it expelled the ambassadors […]