Motoring presenters Jeremy Clarkson, Richard Hammond, and James May’s return to the small screen has been a long while coming but, with the debut episode of The Grand Tour, Amazon has certainly wasted no time showing us where vast sums of the reported USD$250 million it spent on its most expensive TV experiment to date have gone. The Grand Tour picks up in the only logical place […]
Gulf governments are increasingly turning to export credit agencies (ECAs) to finance billions of dollars of infrastructure projects as low oil prices squeeze liquidity in the region. Bankers say that since oil prices fell more than two years ago, eroding state revenues and drying up funding from local and international banks, borrowers are considering ECA finance for everything from airports to oil refinery expansion. The extent of […]
Dubai, November 24, 2016 NDIGITEC, the UAE-based creative production company, has announced that it is the creative production partner for a wide range of brand owners and exhibitors at The Big 5 Dubai – the largest construction event in the Middle East currently under way at Dubai World Trade Centre. NDIGITEC Fabrication, the main production contractor for the exhibition stands of its partners, provides conceptualization, design, production, […]
If there are political similarities in the impulses that led the UK to vote for an exit from the EU and the US for Donald Trump, the market reaction to Wednesday’s collection of British tax and spending measures illustrated the economic differences between the two countries. While Trumponomics has fast become shorthand for a promised programme of tax cuts and infrastructure incentives that could rival the actions […]
Billionaire investor Wilbur Ross, known on Wall Street as the “king of bankruptcy” for his record of buying failing companies, will be tapped as Donald Trump’s commerce secretary, putting an advocate of renegotiating US trade pacts in a key economic post. Mr Ross was a close adviser to Mr Trump during his campaign and helped develop the president-elect’s policies for corporate tax cuts, increased infrastructure spending and […]
Authored by Bonner & Partners’ Bill Bonner, annotated by Acting-Man’s Pater Tenebrarum, Permanently Skewed TRUMP HOTEL, New York – Trump’s rambling army – professionals, amateurs, camp followers, and profiteers – is marching south, down the I-95 corridor. There, on the banks of the Potomac, it will fight its next big battle. Lieutenants in Trump’s army: Bannon, Flynn & Sessions Here at the Diary, we do not […]
Hopes of a fix to the collateral squeeze facing the eurozone’s €5tn short-term funding markets were boosted this week after reports emerged the European Central Bank will consider ways to ease rules on how it lends its stockpile of sovereign debt. A lack of good quality collateral, which market participants use to secure loans, has crippled the single currency area’s short-term funding (“repo”) markets. One big reason […]
Saudi Arabia’s 30-year bonds are outperforming other Gulf debt during volatility triggered by Donald Trump’s election as US president, a sign of unsatisfied demand for Saudi debt and a good omen for issuance expected from Riyadh next year. The week to Nov. 16 saw the largest outflows from emerging market debt on record, according to Bank of America Merrill Lynch, partly because Trump’s election fuelled expectations of […]
The relentless rise of the dollar scorched emerging market currencies on Thursday, sending China’s renminbi to its weakest level in eight years, while India’s rupee plumbed a record low. Broad currency weakness against the dollar came as the bond market fully expects policy tightening by the Federal Reserve at its December meeting. Investors are also looking to next year and trying to gauge the extent of further […]
While most global equity markets were subdued due to the US Thaksgiving holiday, the FX world was very busy overnight, marked by the relentless dollar surge on expectations of a rate hike not only in December but further in 2017, sending Asian currencies to the weakest level in 7 years: the Bloomberg-JPMorgan Asia Dollar Index reached 103.32, the lowest level since March 2009. The regional FX plunge […]
China has become the first country to receive more than 1m patent applications in a single year — a record the World Intellectual Property Organisation said reflected “extraordinary” levels of innovation in the world’s most populous nation. “[The Chinese] are making innovation a central part of their economic strategy,” Francis Gurry, director-general of the UN agency, said at a briefing in Geneva. While sceptics have long argued […]
November 24, 2016 by: Jamie Chisholm, Global Markets Commentator Thursday 08:30 GMT. European equity markets are trading cautiously in the wake of solid US data that bolstered the case for a near-term rate rise from the Federal Reserve and which has triggered another bout of dollar strength. The rampant buck is battering many emerging market currencies and leaves gold down $5 to $1,182.5 an ounce, the metal’s […]
Emarat Dzayer Group, a Dubai-based conglomerate, and Groupe Imetal, a Government of Algeria entity, have signed an agreement to develop a $1.6 billion steel plant in Algeria’s Annaba Province. The agreement was signed on Tuesday on the sidelines of the Algerian-Emirati Investment Forum. The agreement will create Emarat Dzayer Steel Company, a joint venture in which Groupe Imetal will hold 51 percent stake through its two subsidiaries […]
By Shinichi Saoshiro | TOKYO TOKYO Most Asian stock markets fell on Thursday as upbeat economic data strengthened the prospect for higher U.S. interest rates, while the dollar’s bull run continued with U.S. bond yields propelled to multi-year highs. Japanese stocks swam against the tide and rose to a near 11-month high as the yen weakened. Spreadbetters saw a mixed opening for European stocks, forecasting a slightly […]
|AN ARABIAN POST SPECIAL| A little or lesser known DIFC company floated by a few Indians is caught up in a controversy involving a big ticket acquisition worth billions of dollars. The acquisition bidder claims that the bid for a major gaming company was made on the basis of funding commitment by the DIFC company, which however denies any connection with the bid. The controversy relates to […]
So Brexit was not a historical accident after all. The Trump victory seals it. A complacent, mainly urban liberal class, has been undone by a revolt. Nationalists are in charge of Washington and London now. These “strongmen” and “strongwomen” will control borders, restrict the movement of labour and subject cross-border M&A to ever tighter public scrutiny tests. Security will come first. The twin freedoms of capital and […]
By Henning Gloystein | SINGAPORE SINGAPORE Oil prices were little changed on Thursday as uncertainty ahead of a planned OPEC-led crude production cut and thin liquidity due to the U.S. Thanksgiving holiday kept traders from making big new bets on markets. International Brent crude oil futures LCOc1 were trading at $49.00 at 0403 GMT, up 5 cents from their last close. U.S. West Texas Intermediate (WTI) crude […]
|By Arabian Post Staff| Emarat Dzayer Group, a Dubai-based diversified business conglomerate, and Groupe Imetal, a Government of Algeria undertaking, has signed an agreement to develop a US$1.6 billion (Dh5.87 billion) steel plant in Algeria’s Annaba Province. The agreement was signed on Tuesday in Algeria, on the sidelines of the Algerian-Emirati Investment Forum in the presence of Abdel Malek Sellal, Prime Minister of Algeria, Sheikh Mansour Bin Zayed […]
Nasdaq is asking regulators to approve a new order type in the latest example of how the dynamics of speed are changing in the world’s largest equity market. In a letter to the Securities and Exchange Commission, the US exchanges operator proposed a so-called extended life priority order attribute, which would give priority to retail orders seen by the whole market when traders agree not to cancel […]
LONDON Britain made fewer cars last month for the first time in more than a year, driven by slower domestic demand and prompting the industry’s lobby group to renew its call for the government to maintain free trade as Britain leaves the European Union. Overall output fell by an annual 1 percent to 151,795 units in October, the Society of Motor Manufacturers and Traders (SMMT) said on […]
With a number of iconic infrastructure projects in the pipeline for the GCC, innovation remains the focus for the region’s infrastructure and heavy industry Dubai, UAE, 23 November 2016 As the GCC gears up for multi-billion dollar infrastructure initiatives such as Dubai Expo 2020 and the FIFA World Cup 2022 in Qatar, the region’s infrastructure and heavy machinery industry has turned its focus towards exciting new sustainable […]
Iron Man and Captain Marvel. The two heroes have clashed both physically and verbally over the course of Marvel’s Civil War II event, starkly divided over the issue of whether or not the superhero community should be using visions of the future to arrest innocent people prior to them committing crimes. Most recently, a vision from the Inhuman Ulysses revealed a future in which a young Miles […]
Dubai, 23 November Today, The Big 5 2016’s Gaia Awards elected SageGlass as the most innovative product in the Middle East, which will help moving towards a more sustainable built environment. SageGlass is an electronically tintable, dynamic glass that prevents heat and glare, increases occupants’ comfort, optimizes daylight while maintaining the view to the outdoor. Awarded by a panel of industry experts headed by Dr. Alaa K. […]
Mid-morning last Friday, as Tokyo’s foreign-exchange traders were contemplating lunch, the first pictures of Donald Trump meeting the Japanese prime minister, Shinzo Abe, flashed up. The yen bears loved it. Setting aside the gold-encrusted Babylonian decor of Trump Tower and forced bonhomie, conventional market wisdom before November 9 was that an image like this would send global investors everywhere screaming into haven, long yen positions. Forget an […]
