To Jeremy Grantham, co-founder and chief investment strategist of the Boston asset manager GMO, the earth’s changing temperature is an investment imperative as well as a question of ethics. “The climate is moving much faster than people think, and the responses are going to move much faster as well”, he says, arguing that measures to help polluters announced last week by the administration of Donald Trump may […]
By Alexandra Ulmer and Alexandra Valencia | QUITO QUITO Leftist government candidate Lenin Moreno claimed victory in Ecuador’s presidential vote on Sunday, bucking a shift to the right in South America, but the conservative challenger asked for a recount as his supporters took to the streets in protest. A Moreno win would come as a relief for Wikileaks founder Julian Assange after Guillermo Lasso vowed to remove […]
TOKYO Asian shares started the week on a steady footing on Monday after a bumper quarter as investors look to the shape of U.S. trade and economic policies and how they could affect global growth. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was little changed in early trade while Japan’s Nikkei .N225 rose 0.1 percent. Ex-Japan Asia MSCI had gained 12.3 percent in the last […]
China’s Huishan Dairy raised millions of dollars by selling shadow bank products labelled as “low risk” to the public last year, only months before missed loan payments sent creditors scrambling to protect themselves, according to exchange listings in north-east China. Huishan’s share price plunged 85 per cent in Hong Kong on March 24 amid reports — which the company denies — that chairman and controlling shareholder Yang Kai embezzled Rmb3bn […]
02 April 2017 Manama, Bahrain: Albilad Real Estate Investment Company is promoting “Water Garden City” at Gulf Property Show 2017. The official Master Community Developer of Water Garden City is promoting the mixed use water-front development which is situated in the Seef District. “The Gulf Property Show is one of the most important real estate event in the Kingdom of Bahrain “ says Zeyad Janahi, General Manager […]
Here are the main questions facing markets as a new trading week and the start of the second quarter beckons. What are the likely drivers?A host of market-moving events confront investors as the calendar flips over to April. These include France’s presidential elections and the opening salvos of the UK’s divorce from the EU. But there is also the prospect of a sustained recovery in global activity, […]
LONDON Credit Suisse (CSGN.S) has taken out adverts in British Sunday newspapers stressing a zero-tolerance policy on tax evasion, as the Swiss bank tries to limit any damage to its reputation from raids on three of its offices. Zurich-based Credit Suisse was pulled into an international tax evasion and money laundering investigation on Thursday when coordinated searches were carried out on its London, Paris and Amsterdam offices. […]
Submitted by Wolf Richter of WolfStreet The Last time automakers tried this was in 2009! In a few days, automakers are going to report their new vehicle deliveries for March. TrueCar, Kelley Blue Book, and LMC Automotive are predicting total vehicle sales slightly above the flat-line compared to March a year ago, though sales were down year-over-year in both January and February. TrueCar forecasts an increase of […]
Paris: The Panama Papers have given ammunition to the fight against tax evasion, but much still needs to happen before the world’s tax dodgers run out of places to hide money, experts say. The papers, published a year ago, linked some of the world’s most powerful leaders, including Russian President Vladimir Putin and former British prime minister David Cameron, as well as sports stars and billionaires to […]
By Jonathan Spicer | NEW YORK NEW YORK The Federal Reserve could begin shrinking its $4.5-trillion balance sheet as soon as this year, earlier than most economists expect, New York Fed President William Dudley said on Friday in the central bank’s most definitive comments on the question that looms over financial markets. The hawkish-sounding assertion temporarily pushed the dollar lower and raised yields on longer-dated bonds, and […]
Like many Hong Kongers with family and business ties in mainland China, Ceci Chong would often carry cash back across the border — until she was stopped last summer by a Chinese customs officer. She was caught bringing Rmb100,000 ($14,500) in family savings to Hong Kong — five times the cash limit imposed by China. Her case was part of a crackdown on “financial ants”, who smuggle […]
Kuwait City, April 1st 2017: KAMCO Investment Company, a leading investment company with one of the largest AUMs in the region, acted as the acquisition advisor to Qurain Petrochemical Industries Company KSCP (“QPIC”) on the acquisition of 20.5% of National Petroleum Services Company KSCP (“NAPESCO”). The transaction has been successfully completed throughout multiple stages that was initiated in the third quarter of 2016 and finalized in March […]
The value of personal loans in the UAE increased to AED349.9 billion ($95.2 billion) in February, up by three percent compared to the previous month, according to the country’s central bank. The UAE Central Bank said that by providing personal and corporate finance facilities, UAE banks “continue to play a dynamic role in establishing a robust economic development process”. It also said in a report cited by […]
After slamming NBC’s coverage of the “Fake Trump/Russia story”, congratulating the NYTimes for “finally getting it” on Obamacare, Trump on Saturday commented on the previously discussed Fox News story about a “very senior, very well known” U.S. intelligence official who was allegedly involved in unmasking the names of Trump associates, and who had reprotedly surveilled Trump before the nomination. “Wow, @FoxNews just reporting big news. Source: ‘Official […]
Once upon a time Washington was simple: on one hand you had Republican interests, on the other: Democrats, and inbetween them perhaps, the occasional independent or “green.” Now… it’s less simple. At last check, DC currently boasts at least nine different parties, groups, factions or ideologies. Which is why keeping track of who wants what, and how the various groups allign, in US politics has become quite […]
Good morning. Here’s our morning roundup of all the media news you need to know. Want to get this briefing in your inbox every morning? Subscribe here. There is dumb provocative, which we can associate with talk radio and President Trump’s tweets, and there is smart provocative. Nieman Lab offers the latter as it wonders if the media and American banking are soulmates when it comes to […]
Abu Dhabi Music & Arts Foundation (ADMAF) has signed a letter of cooperation with Southbank Centre, the world’s largest festival site, home to the Royal festival Hall, Queen Elizabeth Hall, Purcell Room and Hayward Gallery, and four world-class orchestras. The agreement covers common principles, goals and areas of common interest for joint collaboration in culture and education, a statement said. It added that the letter was signed […]
Paraguay was plunged into a constitutional crisis after congress was stormed and set on fire by protesters, enraged by attempts by President Horacio Cartes to amend the constitution to allow his re-election. Furious protesters, one of whom was killed by police, accused Mr Cartes of engineering a coup, echoing similar cries elsewhere in the region after Venezuela’s government-controlled Supreme Court dissolved congress on Thursday. What is going […]
By Daniela Desantis | ASUNCION ASUNCION A protester was killed in Paraguay after a secret Senate vote for a constitutional amendment that would allow President Horacio Cartes to run for re-election sparked violent clashes and the country’s Congress was stormed and set alight. Rodrigo Quintana, 25, was killed by a rubber bullet fired by police in the headquarters of the liberal youth activist group, the Paraguayan opposition […]
Saudi Arabia’s gross domestic product, adjusted for inflation, grew 1.2 percent from a year earlier in the fourth quarter of 2016, official data has showed. The rate of growth increased compared with 0.9 percent in the third quarter, which was the slowest rate in over three years, according to preliminary data from the country’s Central Department of Statistics showed. They also showed that the Q4 GDP growth […]
Damac Properties has announced that its in-house mortgage department has so far facilitated home financing worth AED600 million ($163 million) for hundreds of units across the UAE. Damac Properties said in a statement that it is the only luxury developer in the Middle East that has a dedicated one-stop-shop to provide direct support for existing and new customers. The developer said this is done by evaluating customers’ […]
Those risks have been amplified by President Trump, whose administration has said it is “putting Iran on notice.” The tough talk from Washington has given early movers like Total pause, raising concerns as to whether long-awaited opportunities will materialize, or if the Trump administration will take a harder line and tighten already-complex rules on doing business with Tehran. Continue reading the main story Some major global companies […]
When Unilabs, the Swiss medical diagnostics business owned by private equity firm Apax, sought buyers to refinance its loans this month, it was by invitation only. The decision to restrict who could buy its loans, while also cutting typical investor protections, is a classic sign of a red-hot credit market in which private equity owners are emboldened to sideline investors who will be more demanding should a […]
01 April 2017 Kuwait: Kuwait Finance House (KFH) has introduced a foreign currencies ATM machine at the airport branch in collaboration with K-Net in efforts to meet customers’ aspirations by offering them the best banking services and the most convenient banking experience as per highest standards of quality. “This ATM enables KFH and non-KFH customers to withdraw up to 4 different currencies; Dollar, Euro, Dirham and Riyal […]
