A new urgency is gripping financial markets. Talk of a Federal Reserve rate increase next week is no longer the main conversation, with interest rate futures now pricing it as a near certainty. How quickly the Fed moves after March is now the hot topic. US jobs growth has been the catalyst. A survey by ADP revealed on Wednesday that 298,000 private sector jobs were created in […]
|By Matein Khalid| Janet Yellen confirmed the Wall Street consensus that the Federal Reserve will raise its overnight borrowing (Fed Funds) rate at the March FOMC. Wage growth, inflation, crude oil, asset prices, economic data momentum and Trump’s fiscal stimulus all reinforce the dual mandate logic of a rate hike. Only a really awful February non-farm payroll shock (consensus is 200,000 jobs) will avert a rate hike […]
Your daily guide to community and cultural activities across the Emirates for March 9, 2017, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. Aarti Jhurani rounds up 10 things to do today in the UAE. Want to see your event listed here? Email us with the details and contact information at [email protected] newslide Abu Dhabi Music festival Buy […]
“Every day that goes by, my concern for my father and Siamak increases,” Mr. Namazi said this week in a telephone interview from Dubai, where he lives. He expressed particular anxiety about his father, who has a heart ailment, saying that an Iranian prison cell was “no place for an aging old man.” Continue reading the main story Last month, on the anniversary of the elder Mr. […]
There are efficiency gaps between the startup ecosystems in Singapore and Silicon Valley, which the former can address by introducing simpler and clearer investment terms. Doing so would, in turn, attract more mature startups to their fold and better set up founders for success, according to executives from muru-D’s Singapore outfit. The Telstra-owned accelerator had just completed its second batch of eight startups under the six-month programme, […]
By Joseph Ax and Lisa Fernandez | NEW YORK/SAN FRANCISCO NEW YORK/SAN FRANCISCO Women protested around the world on Wednesday for equal rights and in the United States against President Donald Trump, with many Americans skipping work or boycotting stores to demand economic fairness on International Women’s Day. American women seized upon the momentum of the Women’s March on Washington on Jan. 21, the day after Trump’s […]
By Gertrude Chavez-Dreyfuss and Trevor Hunnicutt | NEW YORK NEW YORK Investors are betting market regulators will approve what would be the first U.S. exchange-traded fund to track the price of bitcoin. From investment funds to wealthy individuals and even a Las Vegas strip club, the bitcoin ETF is generating a lot of buzz for a financial product. The surge in interest in the digital currency is […]
Snap, the first big tech listing since Alibaba in 2014, has already experienced the highs and lows of the stock market in the week since its NYSE listing. Shares on Wednesday closed at $22.81, down from a high of $29.44 last week, but still above the $17 IPO price. That performance, along with doubts over corporate governance, has raised questions over if, rather than when, Snap will […]
While many have blamed today’s spike in yields for the broader underperformance of the REIT sector, which sent the Bloomberg North American REIT index down 1.4%, its biggest one-day drop since December in a widespread selloff across all property sectors with 194 of the 214 stocks in the index lower today, it’s more than just the jump in rates that is slamming the rate-sensitive sector. While longs […]
Dubai, UAE 08 March 2017 Amlak Finance PJSC, a leading specialized real estate financier in the Middle East, today announced its Full Year Financial Results for the year ended 31 December 2016. Amlak reported net profits of AED 107 million at the end of December 2016, a decrease of 20% compared to AED 135 million in 2015. The Company’s total revenues, however, reached AED 778 million in […]
DUBAI // The UAE has cracked the top 20 list of countries with the most billionaires for the first time. The Emirates is home to 21 ultra-rich individuals, giving it a ranking of 19, according to the China-based Hurun Global Rich List 2017. “The world today has 5,000 dollar billionaires, assuming that for every one we have found we have missed at least one,” said Rupert Hoogewerf, […]
KUALA LUMPUR: A medical student from a university in Egypt and a hotel worker pleaded not guilty in the Sessions Court here today to 54 prostitution-related charges. Khairul Azzuar Yusuff, 28, and Mohyuddin Ahmad Fajarudin, 23, made the plea after all the charges were read out to them before judge Datin M. Kunasundary. The offences included for living on the earnings from prostitution where Khairul Azzuar, who […]
Dubai, United Arab Emirates Delta Partners, the leading advisory and investment company, specialised in the telecoms, media and digital (TMD) space, has been officially recognised as one of the ‘Top Companies to Work for in the UAE’ in 2017 by Great Place to Work®, a global research, training and consultancy firm that identifies the best workplaces in over 50 countries worldwide. The official list, which was announced […]
US-based Hyperloop One on Tuesday put the cost of traffic congestion between Dubai and Abu Dhabi at almost $800 million in lost working hours. Nearly 4,000 vehicles travel on the Dubai-Abu Dhabi highway every day as majority of the people, who work in the UAE capital, reside in Dubai which offers cheaper housing options. “Reducing this commute to 12 minutes opens a whole new realm of options,” […]
Salesforce has built in its Einstein artificial intelligence platform and the upshot is that the move appears to be a smart way to grow organically and hit its revenue growth targets. special feature How to Implement AI and Machine Learning The next wave of IT innovation will be powered by artificial intelligence and machine learning. We look at the ways companies can take advantage of it and […]
Photo A convoy of United States armored vehicles in Manbij, northern Syria. A Pentagon spokesman said Monday that the deployment was intended as a “visible sign of deterrence and reassurance” to dissuade Turkish-backed militias and other groups from attacking the area. Credit Delil Souleiman/Agence France-Presse — Getty Images WASHINGTON — The top American military officer met Tuesday with his Russian and Turkish counterparts to discuss how to […]
Here are the big questions set to frame a new trading week for markets. How frothy are equity and junk bond valuations looking?Another record-breaking week for equities and a red hot reception for the Snap initial public offering is not the only sign of investor optimism running wild. Junk bond spreads — the premium investors demand to hold the bonds over Treasury yields — are heading towards […]
KABUL An explosion and gunfire were reported near a military hospital in the Afghan capital, Kabul, close to the U.S. embassy, officials said on Wednesday. One official said a “security incident” had been reported at the hospital. (Reporting by Mirwais Harooni; Editing by Paul Tait) ‘); $(‘.second-article-divide’).append($(‘.slider.slider-module’)); $(‘.third-article-divide’).append(”); var median = (relatedItemsTotal / 2); var $relatedContentGroupOne = $(‘.related-content.group-one ul’); var $relatedContentGroupTwo = $(‘.related-content.group-two ul’); $.each($relatedItems, function(k,v) { […]
Providing Innovative Financing Solutions to Buyers Interested In Purchasing Residential Units Muscat, March 08, 2017 Sohar Islamic, Bank Sohar’s Islamic Banking Window signed a memorandum of understanding (MoU) with National Mass Housing, a developer of integrated housing communities, to provide preferential Shari’ah Compliant financing solutions to potential Omani’s buyers for purchasing residential units in the upcoming Areej project – phase 2 located in Muscat. The purpose of […]
By Kiyoshi Takenaka and Teppei Kasai | NAMIE, Fukushima NAMIE, Fukushima A truck occasionally whizzes past the darkened shops with cracked walls and fallen signs that line the main street of Japan’s mostly deserted seaside town of Namie. Workers repair a damaged home nearby, and about 60 employees busily prepare for the return of former residents in the largely untouched town hall. Not far away, two wild […]
Saudi Arabia has promised to launch major development projects towards the end of 2017 to re-energise an economy which has been hit by austerity measures, industry sources told Reuters. Deputy Crown Prince Mohammed bin Salman, the kingdom’s top economic official, made the commitment at a recent meeting with a delegation representing the Saudi private sector, the sources, who spoke on condition of anonymity, said. While they pledged […]
By David Morgan | WASHINGTON WASHINGTON U.S. Senate Democrats, seeking to capitalise on growing disclosures about the Trump campaign’s contacts with Russia, urged a top Republican lawmaker on Tuesday to obtain President Donald Trump’s tax returns as a matter of national security. It was the second request for Trump’s returns by Senate Democrats in as many weeks, part of a Democratic campaign to pressure Republicans in Congress […]
By Jennifer Ablan | NEW YORK NEW YORK Jeffrey Gundlach, chief executive officer at DoubleLine Capital, said on Tuesday he expects the Federal Reserve to begin a campaign this month of “old school” sequential interest rate hikes until “something breaks,” such as a U.S. recession. Gundlach, who oversees more than $101 billion at Los Angeles-based DoubleLine, said U.S. economic data support a rate increase as soon as […]
Banks have structured some unusual and complex deals for European companies to raise capital through a combination of debt and equity derivatives in recent weeks, reflecting investor enthusiasm for convertible securities. Last week BASF launched a $600m bond bundled with warrants, in a so-called neutral structure which effectively makes the chemicals group a middleman between its investors and its banks. The deal, put together by Deutsche Bank, […]
