Marka, the UAE’s first retail-focused listed company, has reported a net loss of AED150 million ($40.8 million) for the full financial year of 2016. The company, which has exclusive rights to manufacture and sell Real Madrid products in the Gulf region, reported total revenue of AED294 million, an increase of nearly 37 percentover the full year results for 2015. Marka added that the net loss was mainly […]
Investors are flocking back to European equities and propelling a rally across continental stock markets as money managers downplay fears around the upcoming French elections and fallout from Brexit. The shift — which follows a torrid 2016 when investors pulled roughly $100bn from the asset class — has been driven by hopes of a synchronised global economic expansion accelerating. European stock fund managers received $1.5bn in the […]
A Qatar-based investment firm has announced it has invested in Voopter, the largest flight metasearch engine in Brazil. After reaching the mark of two million users per month, No Borders Investments (NBI) said it has made a “substantive investment” with co-investor Travel Capitalist Ventures, without giving specifics. The Doha-headquartered private investment firm said it typically makes investments of between $1-100 million in market leaders around the world. […]
Latin American dictators once sent in tanks and soldiers. This week, Venezuela’s socialist president Nicolás Maduro dispatched judges. The motivation, in part, is money. The result, however, is the same: a coup. Opposition leaders branded Mr Maduro “a dictator” and foreign governments decried the power grab after Venezuela’s government-controlled Supreme Court effectively annulled the National Assembly on Thursday, where the opposition won a majority in 2015 amid […]
ENMAYÚSCULA, (AFP).– Un año después de la publicación de los “Panama Papers”, una abogada del bufete involucrado en el escándalo aseguró que todas las sociedades creadas fueron constituidas dentro de la legalidad. “No existe el delito, porque no se blanqueó dinero, se constituyeron sociedades dentro del marco de la ley y se guardó la debida diligencia”, dijo a la AFP Marlene Guerra, una de las abogadas del […]
In a low-income area of Ecuador’s capital, followers of Lenín Boltaire Moreno sang along at his final rally to a quintessential Latin American revolutionary song, composed in 1973 by Chile’s Quilapayún: “The people united will never be defeated”. “I am here to celebrate in advance the triumph of Lenín Moreno, because he is the continuation of a project that started 10 years ago,” said Mónica Ortíz, a […]
DuPont (DD.N) said on Friday it would buy a unit of FMC Corp (FMC.N) and sell its crop protection business to the company to win European Union approval for its merger with Dow Chemical (DOW.N), and delayed the deal’s closing again. DuPont said its $130 billion merger with Dow Chemical, which was expected to close in the first half of 2017, is now anticipated to close between […]
They don’t go in for pomp and ceremony at the US Federal Reserve. The retirement of Daniel Tarullo next Wednesday will be marked by coffee and doughnuts, according to a person familiar with the send-off. That’s a pity, in a way, as the departure of the 64-year-old member of the board of governors — and the world’s most fearsome bank regulator — marks a seminal moment on […]
Rackspace CEO Taylor Rhodes: “Amazon is a tornado.” Rackspace CEO Taylor Rhodes is disarmingly honest about the ride the company has been on in recent years. This is what happens, he says, “when the world’s largest bookseller comes into your industry.” It wasn’t Amazon’s bookselling ability that caused Rackspace headaches, of course, but its cloud computing division Amazon Web Services (AWS). Rackspace started out as web hosting […]
31 March 2017 MARC has affirmed its AAAIS rating on TTM Sukuk Berhad’s (TTM SPV) RM600.0 million Sukuk Murabahah with a stable outlook. The outstanding sukuk amounts to RM500 million. TTM SPV is a funding vehicle for the second phase of the Trans Thailand-Malaysia project (TTM Project Phase II), consisting of two gas pipelines between the Malaysia-Thailand Joint Development Area (JDA) and the industrial city of Rayong […]
By Ingrid Melander and Johnny Cotton | PARIS/MALESHERBES, France PARIS/MALESHERBES, France A 90-minute train ride from the Gare de Lyon station in Paris traces a political gulf between big-city voters and the rest, a divide that has shaken up Britain and the United States and has an outside chance of doing the same in France’s upcoming vote. The further you go, the greater the support for the […]
China’s factories stopped losing jobs in March for the first time in nearly five years as manufacturing activity grew at the fastest pace since 2012, according to an official gauge of the sector. The official purchasing managers’ index for China’s manufacturing sector came in at 51.8 in March, climbing further above the 50-point mark separating growth from contraction. But the biggest turnround came from a sub-index tracking […]
Australia’s National Broadband Network (NBN) will be outdated before the rollout is even complete thanks to the company using fibre-to-the-node (FttN) network technology, according to the Australian Capital Territory government. Speaking in a submission to the Joint Standing Committee on the National Broadband Network, the ACT government said NBN should be deploying fibre-to-the-premises (FttP) infrastructure, pointing out that this is the preferred technology in New Zealand, France, […]
Future of manufacturing requires strong SME sector, HE Saif Al Hajeri tells delegates Daylight Programme has positive impact on females working in manufacturing sector Partnership with universities has helped develop technologies which UAE can export Abu Dhabi, UAE, March 30, 2017 HE Saif Al Hajeri, the CEO of Tawazun Economic Council & Tawazun Holding, told the Global Manufacturing and Industrialisation Summit, taking place at the […]
Authored by James Holbrooks via TheAntiMedia.org, Adding fuel to an already highly combustible situation in Southeast Asia, Reuters reported Tuesday that China has “largely completed major construction of military infrastructure on artificial islands it has built in the South China Sea,” and that the Asian superpower “can now deploy combat planes and other military hardware there at any time.” Citing satellite imagery analyzed by the Asian Maritime […]
There ends a third and perhaps final attempt to unite the London Stock Exchange Group and Deutsche Börse. Do they remain independent or prizes for rivals? One supposed reason for the deal was that without it both the LSE and Deutsche Börse viewed themselves as takeover targets. Now we are about to see whether that is truly the case. There are only three other global operators with bigger equity […]
Growth in trade between African nations looks promising, driven by demographics and growing Middle Class Narrative surrounding the continent still too negative, while work needs to be done to improve infrastructure Abu Dhabi, UAE, March 30, 2017: Industrialisation across Africa is being held back due to misperceptions about the risk of investing in the continent, according to a panellist at the Focus on Africa session held […]
JPMorgan is in talks to buy a new building in Dublin, but has told London staff it will not “rush into any decisions” on how it will adjust its operations after Brexit. Bloomberg reported that the US bank was in talks to buy a 130,000 sq ft office in the centre of the Irish capital which could accommodate about 1,000 people. The bank declined to comment. The news […]
Speed was once a ticket to riches in financial markets. Now it’s the bare minimum. Electronic trading groups that made fortunes by being first to pounce on favourable prices are finding it tougher to stay ahead in markets where transactions unfold in billionths of a second. Their costs have risen at the same time that volatility and volumes — essential elements for profitable trading — have ebbed. As a […]
CAPE TOWN, South Africa, March 30, 2017 The award-winning African Utility Week (www.African-Utility-Week.com ), taking place from 16-18 May in Cape Town, will showcase how the continent is coming up with innovative, home-grown solutions to its energy and water challenges and how these are creating exciting and lucrative opportunities for utilities and industry suppliers alike. Experts from respected partners in the industry such as the World Bank, […]
SEOUL North Korea on Thursday said it had reached agreement with Malaysia for the return of the body of a citizen killed in Kuala Lumpur in February and identified by South Korean and U.S. officials as the half-brother of the North’s leader. The body is to be returned to family in North Korea, the official KCNA news agency said, adding that both countries would lift reciprocal bans […]
Elevate, one of the biggest subprime lenders in the US, is reviving plans to go public, seeking to cash in on a big lift in sentiment since the election victory of Donald Trump. Financial stocks have rallied hard since November 8, with big banks such as Bank of America rising as much as 50 per cent on hopes of fatter lending margins, lower taxes and lighter regulation. […]
Friday is inflation day. A quiet week for economic data springs into life with reports on Japanese jobs and industrial production; French consumer spending; German unemployment; UK GDP; and US personal income and consumer sentiment. Prices will be a constant theme, with various inflation iterations presented by Japan, France and the US — the latter in the form of the PCE deflator. But arguably the most intriguing […]
Saudi Aramco has formally appointed JPMorgan Chase & Co, Morgan Stanley and HSBC as international financial advisers for its initial public offering, expected to be the world’s largest equity sale, sources familiar with the matter told Reuters. The trio join Moelis & Co and Evercore, which have been appointed independent financial advisers, one source said. The company has also appointed Saudi Arabia’s NCB Capital and Samba Capital […]
