Shares in casino operators took a tumble on Friday before recovering some poise, following a response from China’s UnionPay to a report that its daily withdrawal limit from ATMs in the gambling haven of Macau was to be halved as part of Beijing’s battle against capital flight from the mainland. China has moved in recent weeks to staunch capital gushing from the mainland, including tightening scrutiny of cross-border […]
Madrid, Spain – 09 November 2016 Fotowatio Renewable Ventures (FRV), a leading global developer of large-scale solar power plants and part of Abdul Latif Jameel Energy, has been awarded a 30 year 300 MW solar project in the second electricity market auction, conducted by the National Energy Control Center (CENACE) of Mexico. With this Build-Operate-Own agreement, FRV extends its global footprint into the Mexican market at very […]
The worst may soon be over for corporate borrowers from the battered US energy industry, according to S&P Global, as a flurry of debt sales suggests investors are confident the Opec supply cut will help put a floor under the oil price. While defaults of energy groups will continue into 2017, analysts with the credit rating agency say they are likely to level out next year and […]
Two days after the Mayor of Dallas, Mike Rawlings, filed a lawsuit against the Dallas Police and Fire Pension system to block withdrawals, which he referred to as a “run on the bank” of an “insolvent” pension system in “financial crisis, the Pension’s board has finally taken steps to halt further withdrawals. Of course, this delayed action has come only after $500 million in deposits have been […]
By Jack Kim and Cynthia Kim | SEOUL SEOUL South Korean President Park Geun-hye, engulfed in an influence-peddling scandal, faces a historic impeachment vote in parliament on Friday that could see her become the country’s first democratically elected leader to be ousted from office. Parliament is expected to vote in favour of impeachment, with support from some members of Park’s conservative Saenuri Party, but the Constitutional Court […]
Investors have valued Athene at about $7.4bn in a stock market launch of the US pensions provider, according to people familiar with the matter. Selling shareholders led by private equity house Apollo Global Management are set to raise $1.08bn as bankers handling the float prepare to price shares in the company at $40 apiece, the people said. That is the middle of a range of between $38 […]
Investors bought firmly into the view that a diverging outlook for interest rates is the key driver for the euro in the wake of the European Central Bank’s extension of quantitative easing, leaving the single currency nursing its biggest one-day drop against the dollar since the UK’s vote to leave the EU. After a knee-jerk 1 per cent leap up in the euro as headlines flashed that […]
1776, a Washington, DC-based technology incubator with a direct presence in Dubai, has signed a partnership agreement with the UK Lebanon Tech Hub (UKLTH), a joint initiative by Banque du Liban (Lebanon’s Central Bank) and the UK Government. The partnership is aimed at supporting Lebanon’s fastest-growing tech start-ups and help them break into new international markets such as the UAE and the neighboring Gulf countries. Start-up companies […]
Major U.S. stock indexes climbed again on Thursday and set fresh record highs as a month-long rally following the presidential election of Donald Trump rolled on. Investors have driven up equities since Trump’s Nov. 8 election over optimism about domestic economic stimulus and reduced corporate taxes and regulations. Supporting the upbeat sentiment on Thursday was a report that showed the number of Americans filing for unemployment benefits […]
Thursday 21:00 GMT Overview The European Central Bank’s latest policy surprise fuelled a volatile session for the euro and government bonds as participants appeared, initially at least, to struggle to assess its implications. But European stocks rose to 11-month highs while Wall Street overcame an early bout of fatigue to set yet more record peaks. Oil prices resumed their upward path, even as a stronger dollar unsettled […]
By Steve Scherer and Francesca Piscioneri | ROME ROME Italy’s president began talks with political leaders on Thursday to seek a way out of the political crisis caused by the resignation of Prime Minister Matteo Renzi. Sergio Mattarella, a 75-year-old former constitutional court judge, must decide if someone can lead Italy to elections scheduled for 2018, or whether an interim government should serve until a snap vote […]
For emerging markets, fears over the election of Donald Trump have yet to fully materialise. The prevailing view, says Ousmene Mandeng of EM investment fund New Sparta Asset Management, is that a Trump presidency is “negative for emerging markets”. Investors could foresee some benefit from a supply-side US boom that adds to world aggregate demand — but a less co-operative, protectionist US will have a structural negative […]
It was Donald Trump’s press conference in the early hours of November 9 that some pinpoint as the moment fears about what his presidency would mean for stock markets turned into euphoria about his victory. Campaign pledges to give a boost to the US economy were repeated, as the newly president-elect struck a moderate, even conciliatory, tone. Whatever you think of the reaction in financial markets since, […]
National Bank of Abu Dhabi (NBAD) secured shareholders’ assent to merge with First Gulf Bank (FGB) at a meeting on Wednesday, a spokesman for NBAD said. First Gulf Bank also secured shareholders’ approval on Wednesday, FGB’s chief executive Andre Sayegh said. The pair announced in July that their boards had approved the tie-up, which will create one of the largest banks in the Middle East and Africa […]
The 19th edition of realty exhibition expecting to attract thousands of NRIs over the 3-day expo Investor confidence gets boost due to demonetisation, home loan rates to be down to 7-8%; RERA, GST and REIT to further improve transparency and bring healthier, sustainable growth Top developers across India meet for exclusive face-to-face interaction. Properties boast features such as eco-friendly housing, water recycling units and […]
The European Central Bank has decided to scale back its landmark quantitive easing programme from €80bn to €60bn a month, in a move that responds to hawks’ concerns about ultra-loose monetary policy but which could unsettle markets. The bank confirmed that it would buy €80bn a month of bonds under the current leg of the programme until March, but added that it would reduce the purchase size […]
Can you imagine a bank where artificial intelligence runs checking accounts, debit cards, and wire transfers? Image: Getty Images/iStockphoto The Milan-London startup connection is getting stronger. After MoneyFarm and Soundreef, yet another promising Italian startup, Euklid, is opening up shop in the UK capital, moving its headquarters to be part of the city’s vibrant ecosystem. The team selected London’s Level39 fintech accelerator as its new center of […]
This is part of a series on the global rise of exchange traded funds ETFs are a global phenomena, but there are significant differences between the market in Europe and the US. This piece examines the most important. The US is far bigger Demand for exchange traded funds in Europe has never been higher. Assets held in funds and products listed across the region hit a record […]
He said the crowdfunding money will be used to pay for banners, posters and other promotional materials during his campaign. The crowdfunding campaign, according to Basuki, is different to traditional political campaigning in Indonesia in that it involves more ordinary members of the public than politicians. The normal way would be for the candidates to get their campaign fund from private sponsors, which would then oblige them, […]
The UK’s National Grid has agreed to sell a 61 per cent stake in its gas distribution network to a consortium of global investors, a deal that will plug the 11m homes the network serves into investors such as China’s sovereign wealth fund and Australian investment bank Macquarie. The terms of the transaction imply an enterprise value for the division of around £13.8bn including debt. The investment […]
SYDNEY Asian shares hustled to one-month highs on Thursday after Wall Street strode to another record, while bonds rallied on wagers the European Central Bank would extend its stimulus campaign at a policy meeting later in the session. Risk appetite got an extra boost when China reported upbeat trade figures with exports and imports both beating forecasts. Resource imports were very strong, a major reason prices for […]
‘Mashreq Bot’ is designed to simulate a conversation with customers using Artificial Intelligence on Digital Platforms Dubai, UAE – 8th December 2016 Mashreq, the UAE’s leading financial institution, has introduced its latest innovation – UAE’s First ‘Mashreq Bot’; an Artificial Intelligence agent – or chat-bot – programed to simulate an intelligent conversation with users. Customers can use the chat-bot to display Mashreq products and perform card-less cash […]
By Anthony Boadle | BRASILIA BRASILIA Brazil’s Supreme Court on Wednesday overturned an injunction that ordered the indicted head of the Senate, Renan Calheiros, to step down, voting to allow him to continue in the post but not in the presidential line of succession. The 6-3 ruling defuses a clash between the top court and the Senate that threatened to derail spending cuts at the centre of […]
Thursday 02.10 GMT Overview Major bourses across Asia latched on to record closes for key Wall Street indices as US stock markets continued to rally one month on from the presidential election. But investors were also turning their attention to the European Central Bank and whether it will at its policy meeting later on Thursday extend the deadline for its asset stimulus programme. Hot topic On Wednesday […]
