By Lauren Hirsch and Liana B. Baker Snapchat has filed for an initial public offering, sources familiar with the situation said on Tuesday, which puts the messaging app a step closer to the biggest U.S. stock market debut since 2014. The Venice, California-based company could go public as soon as March and be valued at $20 billion to $25 billion, making it the largest IPO since Chinese […]
Donald Trump’s election victory heralds the beginning of a new era that will be marked by the retreat of globalisation and rising bond yields, according to Bridgewater’s Ray Dalio. Mr Dalio, the founder of the world’s biggest hedge fund group, said in a note on Tuesday that “there is a good chance that we are at one of those major reversals that last a decade”, similar to […]
Sweden’s Riksbank is debating whether to become the first significant central bank to issue a digital currency as it responds to an increasing move away from cash in the Scandinavian country. The world’s oldest central bank — it was the first to issue paper banknotes in the 1660s — is launching a project to examine what a central bank-backed digital currency would look like and what challenges […]
“Phase one is the hope phase,” Stephen Cucchiaro, chief investment officer at 3 Edge Asset Management, says of the reaction in financial markets to president-elect Donald Trump. “As it is a while until he’s president, you can hope for fiscal stimulus getting growth going and reawakening animal spirits.” Evidence of exuberance is not hard to find. S&P 500 financials and heathcare stocks are flying; US 10-year Treasury […]
Saudi Arabia’s central bank expects gross domestic product to grow 1.8 percent this year, faster than the 1.2 percent forecast by the International Monetary Fund, the bank said in its annual report, released on Monday. The non-oil sector is expected to expand 2.5 percent and the oil sector, 1.2 percent, the central bank said. At a news conference, central bank governor Ahmed Al Kholifey said that the […]
During an interview in his office here, Mr. Omgy acknowledged that his company had provided financial services to Al Qaeda. “We had no other option but to comply with them,” he said. “They were the rulers of the city.” Continue reading the main story But he denied the Treasury Department’s charge that he was a Qaeda member, describing his ties to the group as a business relationship […]
There are few things like a bull market to turn an investor’s head. Just look at China. Having slumped almost 50 per cent from its peak last June to a low in early January, the benchmark CSI 300 Index is now up 20 per cent. The memory-erasing qualities of this year’s rally in Shanghai will soon be given a real test as a trading link between Hong […]
A sell-off reverberating through sovereign bond markets tested investor appetite on Monday for a multibillion-dollar corporate bond sale, as money managers wait for volatile price swings to subside. Pfizer successfully completed a $6bn bond sale on Monday but several investors familiar with the sale said interest was subdued by the recent volatility in fixed-income markets, which has seen the yield on both the 10 and 30-year Treasuries […]
SINGAPORE Oil prices rose around 2 percent on Tuesday to move away from multi-month lows struck the day before, pushed higher by expectations of falling shale output and renewed optimism that OPEC will deliver on touted production cuts. U.S. crude futures for December delivery CLc1 had climbed 90 cents, or 2.1 percent, to $44.22 a barrel by 0340 GMT. They struck their lowest in nearly two months […]
Bank of Sharjah is considering issuing a $500 million conventional bond in 2017 for general corporate purposes, banking sources have told Reuters. The Abu Dhabi-listed lender gained shareholder approval earlier this year to issue bonds worth up to $1.5 billion. It issued its first international bond of $500 million in 2015. The bank chose JP Morgan and National Bank of Abu Dhabi as joint coordinators for the […]
Dubai – 14 November 2016 GFH Capital, a subsidiary of Bahrain based GFH Financial Group, today announced an investment in AMA Group for its growing operations in the Kingdom of Bahrain and beyond. The investment will be in the form of a Shari’a compliant convertible Murabaha facility. The AMA Group manages the largest network of educational institutions across Asia. The AMA Group also has various other business […]
Members of Prime Minister Benjamin Netanyahu’s Likud party and other rightist politicians jumped to make hay of the change. Continue reading the main story Yoav Kish, a Likud member of Parliament, called for the expansion of Israeli sovereignty into the West Bank; Meir Turgeman, the chairman of Jerusalem’s municipal planning committee, said he would now bring long-frozen plans for thousands of Jewish homes in the fiercely contested […]
|By Arabian Post Staff|Saudi Arabia’s sovereign wealth fund is considering selling stakes in local companies to raise funds for international expansion, Bloomberg reported quoting people with knowledge of the matter. The Public Investment Fund — with about $100 billion worth of shares in listed local companies including Saudi Basic Industries Corp. and Saudi Telecom Co. — is reviewing the stakes as it seeks to diversify its assets, […]
|By Arabian Post Staff|Saudi Arabia’s sovereign wealth fund is considering selling stakes in local companies to raise funds for international expansion, Bloomberg reported quoting people with knowledge of the matter. The Public Investment Fund — with about $100 billion worth of shares in listed local companies including Saudi Basic Industries Corp. and Saudi Telecom Co. — is reviewing the stakes as it seeks to diversify its assets, […]
BRUSSELS: The European Union extended its sanctions on Syria on Monday, banning the country’s central bank chief and its finance minister from traveling in Europe and freezing their assets in a further step to isolate President Bashar Assad.The decision to target Central Bank Gov. Duraid Durgham and Finance Minister Maamoun Hamdan, along with 16 other government ministers, made good on the EU’s threat last month to increase […]
New London office construction activity has fallen 42 per cent from a year ago as Brexit and other uncertainties cast a shadow over the property market. Work began on 40 new office developments totalling 2.8m square feet over the past six months, down from a record 4.8m square feet recorded a year earlier, according to Deloitte Real Estate’s Crane Survey. Total development activity rose slightly from a […]
By Ann Saphir | WICHITA FALLS, Tex. WICHITA FALLS, Tex. Markets are betting heavily that the man Americans last week elected as their next president will enact fiscal and other policies that will boost U.S. growth and inflation, but at least one U.S. central banker is pushing back. Since Republican Donald Trump was elected U.S. president last week, the 10-year Treasury yield has climbed to its highest […]
After months of sending government troops to battle militants blowing up oil pipelines in the Niger Delta, Muhammadu Buhari tried a different tack. The Nigerian president invited the region’s community leaders and traditional rulers to his villa this month for talks — a step energy sector executives hoped could halt a wave of sabotage since January that has cost the country billions of dollars in damages and […]
Jeddah, Kingdom of Saudi Arabia, 14 November 2016 The Board of Executive Directors of the Islamic Development Bank (IsDB) has approved US $592.2 million in financing for new development projects in several member countries and some Muslim communities in non-member countries. The major approvals include: US $105 million, for the Fadhili Combined Heat and Power Project (FCHPP), Saudi Arabia Advertisement US $338.5 million, for the High-Speed Train […]
NEW YORK A measure of U.S. inflation expectations held mostly steady at low levels in October, with only some momentum higher, according to a Federal Reserve Bank of New York survey taken before Americans voted in this month’s presidential election. The survey of consumer expectations, an increasingly influential gauge of prices for the U.S. central bank, found that inflation is expected to be identical one and three […]
A global bond market rout intensified on Monday while the dollar strengthened as investors bet that US president-elect Donald Trump’s mix of economic stimulus and protectionism will herald faster growth and the return of inflation. Since Mr Trump’s surprise win in last week’s election, investors have begun to question long-held consensus forecasts for subdued inflation and mediocre growth that underpinned a rally in bonds over the summer. […]
US bank shares have staged the sharpest recovery rally since Wall Street emerged from the financial crisis in 2009, underlining the stark shift in investor sentiment that has gathered pace since Donald Trump captured the US presidency. The S&P 500 banks index, a gauge of the largest US banks, has turned a year-to-date fall that, at its worst, reached almost 25 per cent, to a gain of […]
By Elias Glenn and Kevin Yao | BEIJING BEIJING China’s economy largely showed further signs of steadying in October as expected, but disappointing retail sales growth and fears of U.S. trade frictions under incoming President Donald Trump are increasingly clouding the outlook. Fixed-asset investment quickened slightly and beat expectations in January-October as the government stepped up infrastructure spending to support growth, official data showed on Monday. But […]
14 November 2016 Ahli United Bank has been named “Best Private Bank in Bahrain” at the prestigious Global Private Banking Awards 2016 ceremony held recently in London. The award is jointly announced by The Banker and PWM (Professional Wealth Management) magazines, the industry’s leading publications of the Financial Times Group. In recognition of its excellent services in the private banking and wealth management sector, AUB has received […]
