The pound took a tumble on Tuesday after politicians paved the way for Article 50 to be triggered this month, leading analysts to warn that Brexit was still not priced in to the value of the UK currency. Sterling fell as much as 0.9 per cent in Tuesday morning trading to just above $1.21, its weakest level since Theresa May, prime minister, promised a parliamentary vote on […]
The Gulf’s healthcare industry is expected to receive the highest volume of investments in 2017 among non-oil sectors as GCC countries seek to further diversify their economies, according to a new survey. CFA Institute, the global association of investment professionals, said its annual Middle East Societies Market Sentiment survey also forecse an increase in hospitality and tourism investment. It said in a statement that in Saudi Arabia, […]
By Makiko Yamazaki and Taiga Uranaka | TOKYO TOKYO Japan’s Toshiba Corp failed to submit audited third-quarter earnings for a second time on Tuesday, gaining a one month extension as its expands a probe into problems at its U.S. nuclear unit Westinghouse. With its financial woes only deepening, Toshiba said it would speed up looking at whether to sell a majority of Westinghouse even as it sought […]
Image: Supplied South African regulation technology company e4 on Tuesday launched its virtual biometric identity verification service in Australia. Virtual verification of identity (VOI) allows lenders and mortgage brokers to verify new customers to relevant anti-money laundering (AML) and counter terrorism financing standards through a cloud-based application. Typically, when consumers fill out a mortgage application online, they will need to visit a bank or post office branch […]
When Intel’s chief executive addressed shareholders at last month’s investor day, he insisted that the “traditional market view” of the company as a Silicon Valley stalwart making chips for PCs and servers was wrong. “The way we look at the world is a bit different,” Brian Krzanich said. “We are a data company.” Investors would soon discover just how differently Mr Krzanich was looking at Intel’s world. […]
The French presidential election is setting up a critical test of resolve for Japanese investors as life assurers, big banks and struggling regional lenders enter a second year under the Bank of Japan’s negative interest rate policy. The policy shift by the BoJ in February 2016 accelerated efforts by Japanese investors to seek higher fixed-rate returns overseas and has raised the sensitivity of their portfolios to global […]
From the geometric work of Tunisian artist Nicène Kossentini – who spent time in Córdoba’s Great Mosque while on a residency in Andalusia and produced abstracted drawings based on Tawq Al Hamamah (The Ring of the Dove), a 11th-century treatise of love written by Ibn Hazm – to the paintings of Ahmed Morsi, the pieces displayed as part of the 11th edition of Art Dubai hold fascinating […]
To investors still betting — either by choice or technical necessity — that Toshiba can pull off a miracle escape act, Monday night produced yet another dispiriting blow. With just hours left before the troubled Japanese conglomerate was due to submit its audited third-quarter earnings — an already overdue document critical to its continued status as a listed entity — sources close to the company confirmed that […]
QFC to create 10,000 jobs in the private sector QFC to license 1,000 firms by 2022 QFC appoints leading industry heads to Advisory Board QFC to launch New Law QFC launch biggest TV campaign to date Advertisement 14 March 2017, Doha – Qatar Qatar Financial Centre is on track to license 1,000 new firms and create 10,000 jobs by 2022, Qatar Financial Centre (QFC) Authority CEO Yousuf […]
Kuwait’s dual-tranche international debut bond has attracted order books in excess of $15 billion, a document issued by one of the lead banks showed. The debt sale, expected to price on Monday, is split into five-year and 10-year tranches. Initial price guidance was earlier released in the 100 basis points over US Treasuries area for the five-year tranche and the 120 bps over Treasuries area for the […]
Nervousness in the US stock market has climbed to the highest level since the aftermath of the presidential election, even as equities have charted a mostly smooth path to further all-time highs in recent weeks. Credit Suisse’s fear barometer rose at the end of last week to 35.6, an increase of almost 10 points from the previous week and the highest reading since November 9, the day […]
In a photo op at the start of their meeting, Mr. Netanyahu greeted Mr. Greenblatt warmly, addressing him as Jason, and said, “I hope we can do some good things together.” Mr. Greenblatt replied, “I think we are going to do great things together.” Once seated, he thanked Mr. Netanyahu for reorganizing his schedule, throwing in a “todah,” Hebrew for thank you. Continue reading the main story […]
By Yashaswini Swamynathan The S&P 500 and the Dow Jones Industrial Average were slightly lower on Monday as gains in financials shares – ahead of a widely expected interest rate hike – were weighed down by losses in drug stocks. The Federal Open Market Committee, the central bank’s policy-setting board, is expected to lift interest rates by a quarter point to 0.75 percent-1.00 percent after a two-day […]
Doha, Qatar – 13 March, 2017 In recognition of the creative efforts it made throughout the year, First Finance Company (FFC), a subsidiary of Barwa Bank Group, has earned the title of ‘Most Innovative Finance Company’ in Qatar 2016, at the International Finance Magazine (IFM) Awards, which was held at the JW Marriott Marquis Hotel in Dubai. FFC claimed the sought-after title in honor of its leading role […]
/By Arabian Post Staff/ The board of directors of the mega bank being created by the merger of FGB and the National Bank of Abu Dhabi (NBAD) has met to approve key items ahead of the legal completion of the merger in the coming weeks. During the meeting, the Board decided on the Group’s corporate governance structure and finalised the nomination of Board committees and delegation of […]
Why Tavira? At the eastern end of southern Portugal’s perma-sunny Algarve region, Tavira has none of the brashness and concrete overdose that afflicts many of the resort towns in the centre. With a proud heritage dating back through Islamic Al-Andalus, the Roman era and Phoenician traders, Tavira has an authenticity that lends historical weight to its good looks. And boy does it have good looks. Built on […]
In textbook fashion, the Federal Reserve has prepared traders and investors for a 25 basis points increase in policy interest rates this week. When it comes to lasting effects on markets, however, the Fed is likely to deliver more than the third rise in 10 years. It will also signal an important evolution in its policy approach aiming for a beautiful rate normalisation. Facing an implied probability […]
Investors are primed for a more aggressive policy stance from the Federal Reserve, setting the stage for an escalation in the selling of Treasury bonds. With the US central bank expected to raise its overnight interest rate by a quarter-point on Wednesday, scrutiny will focus on Fed chair Janet Yellen’s press conference and policymakers’ projections for official interest rates over the coming years, known as the dot […]
Stuart Gulliver has told the HSBC board he will quit as chief executive next year, making the search for his successor a priority for Mark Tucker, who has decided to leave Asian insurer AIA to become the bank’s chairman. The appointment of Mr Tucker was announced before the Hong Kong market opened on Monday by AIA and HSBC, which first approached the insurer’s president and chief executive last […]
March 13, 2017 by: Hudson Lockett in Hong Kong and Michael Hunter in London Monday 07:15 GMT What you need to know US West Texas Intermediate crude is at $48.33 a barrel, having fallen under $48 for the first time in more than three months. The pound is holding above $1.22 as speculation mounts that the UK government is poised to trigger Article 50 of the Lisbon […]
Stock photo The price of Bitcoin plummeted after the US Securities and Exchange Commission (SEC) denied a request to bring Bitcoin to the financial market, highlighting how the value of the virtual currency can change within minutes. In February, the virtual currency’s value reached an all-time high of over $1,300 with investors taking a punt on rumors SEC would allow the first Bitcoin ETF. An exchange-traded fund […]
Zain Group held its annual Ordinary General Assembly in a gathering that constituted a quorum of 66.79% and approved a cash dividend of 35 fils Vice-Chairman Bader Al Kharafi: “Investments in emerging technologies will diversify our revenue streams.” New Board of Directors elected for three years; Scott Gegenheimer given new role as CEO of Operations Advertisement Kuwait – 12 March, 2017 Zain Group, a leading mobile telecom […]
A young girl named Shree chimped out on the White House Press Secretary, Sean Spicer, the other day for merely existing. Lacking all of the basic rules of decorum set forth by thousands of years of evolution, this young lady tossed barbarous questions at dear, sweet, Sean — asking him how it felt to work for a treasonous Russian racist fascist bastard, replete with orange tones and […]
SEOUL Oil prices dropped to their lowest in three months on Monday despite OPEC efforts to curb crude output, dragged down as U.S. drillers kept adding rigs. Brent crude LCOc1 had fallen 35 cents, or 0.68 percent, to its lowest since Nov. 30 at $51.02 per barrel by 0231 GMT. It closed the previous session down 1.6 percent at $51.37. U.S. West Texas Intermediate crude (WTI) CLc1 […]
