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22 Feb 2017, Doha, Qatar The Commercial Bank (P.S.Q.C.) (“the Bank”), its subsidiaries and associates (“Group”) announced today its financial results for the full year ended 31 December 2016. The Group reported a net profit of QAR 501.4 million as compared to QAR 1,434 million for the same period in 2015, a decrease of 65%. The Bank reported a net profit of QAR 683 million (2015- QAR […]

Evan Spiegel and other top executives at Snap, the owner of messaging app Snapchat, on Tuesday pitched the company to hundreds of investors in New York and faced questions about user growth, costs and the development of the platform. The ballroom at the Mandarin Oriental in midtown Manhattan was the second stop on a roadshow for the company’s listing, after it kicked off its marketing blitz in […]

Wholesale telecommunications and cloud services provider Inabox has announced it has successfully raised AU$4 million via a private placement that it said will be used to pay down short-term debt from its recent acquisition of Hostworks Group and its associated companies. Under the placement, 3,636,364 fully paid ordinary shares will be issued at AU$1.10 per share, and the placement shares are expected to commence trading on the […]

At the start of January, when the Mexican Central Bank spent $2 billion to defend its currency in a rare intervention in the spot market, and which lasted just a few hours before the selling resumed, Goldman analyst Albert Ramos had some advice for Banxico: don’t use reserves to defend the Peso as Mexico would have greater need for them elsewhere. : Instead, Goldman’s advice was to […]

U.S. stocks rose to fresh record highs on Tuesday, boosted by strong earnings reports from Wal-Mart and Home Depot and continued optimism about the economic agenda of President Donald Trump. Wal-Mart’s (WMT.N) shares were the top gainer in the Dow Jones Industrial Average, rising 3 percent after the world’s largest retailer reported higher-than-expected U.S. sales. Home Depot (HD.N) shares gained 1.4 percent after the home improvement retailer […]

From Dark to Dust It is the news that millions of fans of Philip Pullman’s brilliant fantasy trilogy His Dark Materials have been waiting to hear for years – the English author is ready to further explore the world of heroine Lyra Belacqua, daemons and the Magisterium in another three-book series. Billed as neither prequel nor a sequel but an “equel”, The Book of Dust series will […]

Photo Seif al-Islam el-Qaddafi on trial in Zintan, Libya, in 2014. Credit Reuters GENEVA — Seif al-Islam el-Qaddafi, the son of Libya’s ousted dictator, should be turned over to the International Criminal Court to be tried on war crimes charges, the United Nations said on Tuesday, adding that he did not get a fair trial in Libya. But the question is, who will hand him over? A […]

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The International Monetary Fund’s description of Greek debt as potentially explosive has left negotiators in Brussels struggling to bridge the differences between Athens and its creditors before time runs out to avert default. With creditors unwilling to release the next tranche of bailout money needed to keep the country afloat, Greece is facing €7bn of debt redemptions in July that it cannot afford. Investors appear to have […]

By Tom Perry and John Davison | BEIRUT BEIRUT The U.S.-backed Syria Democratic Forces (SDF) alliance has crossed into Deir al-Zor province for the first time as part of an offensive against Islamic State, a Kurdish military source said on Tuesday. The advance into the province, most of which is under the control of the ultra-hardline group, is part of an operation to encircle and ultimately capture […]

My taxi driver in San Diego had a plan. He was moving to Laredo to get back into long-distance trucking. He’d work hard for 10 years, save a couple of hundred grand, and retire to Mexico. I did the math: that put him around 2028. He might just make it before all the trucking jobs go away. At Qualcomm last week, Cristiano Amon, president of […]

Restaurant Brands International Inc (QSR.TO), owner of the Burger King and Tim Hortons fast-food chains, said on Tuesday it would acquire Popeyes Louisiana Kitchen (PLKI.O) for $1.8 billion in cash. The deal is a bet by Oakville, Ontario-based Restaurant Brands that it can use its international reach to introduce Popeyes’ Louisiana-style fried chicken and buttermilk biscuits to more diners globally. Popeyes shareholders will get $79.00 for each […]

Photo A session at the International Conference in Support of Palestinian Intifada in Tehran on Tuesday, where Ayatollah Ali Khamenei, Iran’s supreme leader, urged renewal of the Palestinian uprising, or intifada, against Israel. Credit Ebrahim Noroozi/Associated Press TEHRAN — Everything was in place on Tuesday for a gala celebration at Iran’s annual conference in support of Palestine. Awaiting the hundreds of guests was a table piled high […]

European markets regulators are examining a potential loophole in share-trading rules, which they fear promotes lightly regulated, private networks rather than placing curbs on trade away from public exchanges. Concern is mounting that the rules, which take effect from next January, could be exploited by some banks and high-frequency traders (HTF), to sidestep policymakers’ determination to make share trading more transparent. In an effort to improve trading […]

Photo Red Crescent workers collected the bodies of migrants on Monday from a beach near the town of Zawiya, Libya. Credit Libyan Red Crescent CAIRO — The bodies of 74 migrants were recovered from a beach near the town of Zawiya in western Libya, rescuers said on Tuesday, an ominous sign before the high season for Mediterranean crossings. The bodies were believed to have come from a […]

At least 180 Chinese listed companies will be forced to cancel or scale back planned rights offerings worth $97bn in response to regulations that target excessive fundraising used for dubious acquisitions and financial speculation. The rules come as Chinese regulators are increasingly concerned about the trend of “exit the real, enter the fake” — a phrase used to denote companies abandoning real economic activity in favour of […]

Few business communities swing from boom to bust as reliably as Silicon Valley, but detecting shifts in this opaque world can be challenging. To help illuminate the field, Bloomberg created the U.S. Startups Barometer, a new weekly indicator that tracks the overall health of the business environment for private technology companies based in the U.S. So how ‘healthy’ is the American Venture Capital business? The short answer […]

By Sumeet Chatterjee and Lawrence White | HONG KONG/LONDON HONG KONG/LONDON HSBC Holdings (HSBA.L) reported a 62 percent slump in annual pre-tax profit that fell way short of analysts’ estimates as the British bank took hefty writedowns from restructuring and pointed to brakes on revenue growth. HSBC shares slid more than 6 percent after the company reported revenues fell by a fifth from 2015, underscoring the challenge […]

21 February 2017 Dubai – Auerbach Grayson & Company, LLC, a New York-based brokerage firm specializing in global trade execution and exclusive in-depth research on developed, frontier and emerging markets, announced today that it has partnered with Dubai-based  Arqaam Capital, the specialist emerging markets investment bank, to provide U.S. investors with greater access to the Middle East and South Africa. Through its exclusive partnership with Arqaam Capital, […]

One-off costs and multibillion-dollar writedowns have dragged down HSBC’s full-year profit 62 per cent year-on-year to $7.1bn, as the London-headquartered lender extended its share buyback programme by an additional $1bn. The British bank blamed slowing economic growth in its main markets of Hong Kong and the UK for the profit slide, as well as a $3.2bn impairment of goodwill to its private banking unit in Europe, and […]

Success for banks selling large blocks of stock in the European market this year points to a supportive environment for new listings in the months ahead, bankers say. There have been 70 such accelerated offerings so far this year according to Dealogic, worth €11.3bn, more than double the €5.5bn sold in the same period a year ago when anxiety about the state of China’s economy prompted much […]

With US stocks in record territory and the S&P 500 index the most richly valued in more than a decade, some investors see dark clouds gathering on the horizon. The S&P 500, a broad measure of the stock prices of America’s largest companies, ended last week at a record high and has risen almost 10 per cent since the election of Donald Trump as president in November. […]

Trump Is Playing You Note: Soren K is a group of 4 writers to whom I contribute on commodity market posts-Vince Lanci Written by Soren K and MarketSlant.  There is one thing Hillary and Donald agree on. You are idiots. She said it. He thinks it. In fact the voting populace is largely brain damaged. And those who aren’t quite vegetables yet will become pacified with iphones, slot machines, […]

By Lauren Hirsch and Greg Roumeliotis Restaurant Brands International Inc, owner of the Burger King and Tim Hortons fast-food chains, is nearing a deal to acquire Popeyes Louisiana Kitchen Inc, people familiar with the matter said on Monday. The deal, which will likely value Popeyes at more than $1.7 billion, is a bet by Oakville, Ontario-based Restaurant Brands that it can use its international reach to introduce […]

Doha, 20 February 2017 Al Khalij Commercial Bank (al khaliji) Q.S.C. held its Annual General Assembly (AGA) and its Extraordinary General Assembly (EGA) meetings on Monday 20 February 2017. At the Annual General Assembly meeting, the shareholders endorsed the financial statements for the fiscal year ended at 31 December 2016 which reflect a Net Profit after Tax of QAR 427 million. His Excellency Sheikh Hamad Bin Faisal […]

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