Gold’s tumble to the lowest since 2010 promises to prolong a mergers and acquisitions boom that’s seen transactions at a three-year high as weaker prices slash asset valuations. Deals valued at $9.6 billion were proposed or completed in the six months to June 30, up 7 percent on the previous half, as producers including OceanaGold Corp. agreed acquisitions, according to data complied by Bloomberg. They totaled $22.3 […]
Tech company Nvidia has just issued a voluntary recall of about 88,000 of its Shield eight-inch tablets. If you bought your Shield between July 2014 and July 2015, it seems you might need to worry about the tablet catching fire. The good news is Nvidia will replace the one in your hands absolutely free. “Nvidia has determined that the battery in these tablets can overheat, posing a […]
An employee works inside the office of U.S. online cab-hailing company Uber, on the outskirts of New Delhi, India, April 24, 2015. Reuters/Anindito Mukherjee REUTERS – Uber Technologies Inc will invest $1 billion in India in the next nine months, as the online taxi-hailing company looks to expand its services in its biggest market outside the United States. Uber said it would use the additional investment to […]
The yield on bonds of Abu Dhabi has decreased four basis points since 22 July, the day the UAE announced the move to remove fuel subsidies, Bloomberg reported. While the average yield on developing-country debt has increased 13 basis points since the 22 July announcement of fuel-price deregulation, the yield on bonds of Abu Dhabi has declined four basis points. The yield on bonds of the neighboring […]
Gold fell, heading for its largest monthly decline in two years, as the Federal Reserve moved closer to boosting US interest rates for the first time since 2006. While Fed policy makers refrained from signaling the timing of a rate rise after a two-day meeting, they described job gains as solid amid an improving economy, according to a statement Wednesday. The market expects a move as early […]
OnePlus 2 launched; big features at $329 NEW DELHI, 1 days ago OnePlus, the start-up Chinese smartphone maker, has launched its new flagship device OnePlus 2. The OnePlus 2 will initially go on sale in India, China, the US, Canada, and select EU countries on August 11. Southeast Asia will get the smartphone in Q4 2015. The phone will cost $329 for an unlocked 16-GB version and […]
Hogan…focused on creating new experiences Consumer choice, innovation ‘key drivers of aviation sector’ ORLANDO, 1 days ago Consumer choice and innovation are the fundamental drivers of competition in the international airline industry, said Etihad Airways president and CEO James Hogan at the 2015 Global Business Travel Association (GBTA) Convention in Orlando, Florida (US). In a discussion, which focused on emerging opportunities and challenges in the global aviation industry, […]
United Airlines is the latest to fall victim to a data breach. The hackers stole flight manifests, which disclose information about passengers on the flight and their destinations. News reports are pointing fingers at hackers backed by China. Some are attributing the attacks to the same group that attacked health insurer Anthem and U.S. Office of Personnel Management (OPM). In February, Anthem informed millions of its customers […]
|By Matein Khalid|So Pearson PLC has sold the FT Group (with its flagship Financial Times newspaper) to Japan’s Nikkei Inc for $1.32 billion. Pearson will use the cash proceeds to increase its investment in education publishing businesses in the US and Canada, now 75% of revenues. This deal is a milestone in the history of newspaper publishing and my own life as an investor/financial journalist. I discovered […]
Gold stocks dropped, erasing most of yesterday’s gains, on concern Chinese buyers are losing their appetite for the metal. Gold Fields Ltd., which owns mines in South Africa and Australia, sank 6.7 percent as of 2:34 p.m. in Johannesburg. Sibanye Gold Ltd. and AngloGold Ashanti Ltd. tumbled more than 6 percent. The FTSE/JSE Africa Gold Mining Index fell 5.5 percent and is trading near the lowest since […]
BRUSSELS — Turkey turned to its allies in NATO on Tuesday for political backing, after it agreed to step up efforts against the Islamic State but also renewed its conflict with Kurdish militants. “All allies expressed their strong support for Turkey, and we stand all together, united in solidarity with Turkey,” Jens Stoltenberg, the NATO secretary general, told reporters at the alliance’s headquarters in Brussels after a […]
|By K Raveendran| The deregulation of fuel prices in the UAE is no doubt a highly opportunistic move in the sense that the current oil price levels support market-driven pricing. But a major factor that prompted the decision is believed to be the recommendations of IMF. The UAE Ministry of Energy recently announced that domestic gasoline and diesel prices would be deregulated starting from 1 August 2015. […]
People talk in front of a Baidu’s company logo at Baidu’s headquarters in Beijing January 16, 2014. Reuters/Jason Lee Baidu Inc’s (BIDU.O) quarterly profit missed analysts’ estimates as China’s biggest Internet search company spent heavily to diversify away from its core search advertising business, which is becoming less profitable and more competitive. Baidu’s shares fell more than 8 percent in extended trading on Monday after the company’s […]
A salesperson cleans next to an iPhone 6 at an Apple store in Beijing, October 17, 2014. Reuters/Jason Lee/Files BEIJING Police in Beijing have busted a factory that produced more than 41,000 fake iPhones worth as much as 120 million yuan ($19 million), including some that reached the United States, and have arrested nine suspects in the counterfeiting operation. Apple is one of the most popular brands […]
|By TAP Staff| Dubai residential rents declined by 3% during the second quarter of 2015, according to the latest ADIB/MPM Properties Real Estate report. This comes amongst a surge in supply as 6,750 new residential units were delivered this quarter, taking the total Dubai residential stock to 479,000 units. The majority of the new supply was added along the Sheikh Mohammed Bin Zayed road, with the International […]
The bargain hunters who thronged Kumar Jain’s jewelry store in Mumbai as gold prices tumbled in 2013 are staying away for now. They’re holding off because they think this week’s collapse to the lowest price in five years has further to run, according to Jain. That’s a view shared with Goldman Sachs. “It hasn’t been anything like what happened two years ago,” Jain said, referring to the […]
Video | Kerry Defends Nuclear Deal to Senate Secretary of State John Kerry defended the Iran nuclear deal on Thursday before the Senate Foreign Relations Committee, meeting resistance from Republican members of the group. By JONATHAN WEISMAN and MICHAEL R. GORDON July 23, 2015 WASHINGTON — After four and a half hours of contentious questioning, three cabinet secretaries deployed Thursday by President Obama to the Senate to defend his nuclear deal with […]
MUMBAI With only a tiny share of the world’s fastest-growing major smartphone market, Apple Inc (AAPL.O) is stepping up its push into India, with a first targeted TV advertising campaign, expanded retail network and promotional financing schemes. For years, India has been a low priority for Apple as spending power is weaker than in China, where the company’s iPhones swiftly became must-have devices after their 2007 launch. […]
UAE. Wermuth Asset Management has announced its expectation that, given the availability of solar power at $4 cents/kWh, a price with which crude oil could only compete if offered below $7/barrel, the ‘carbon bubble’ will burst and that it will have profound implications for the Middle East’s oil producing countries, global financial markets and the world economy. If COP21 leaders this year commit to a global 2⁰C […]
INTERNATIONAL. In my “Net Assessment of the World,” I argued that four major segments of the European and Asian landmass were in crisis: Europe, Russia, the Middle East (from the Levant to Iran) and China. Each crisis was different; each was at a different stage of development. Collectively the crises threatened to destabilize the Eurasian landmass, the Eastern Hemisphere, and potentially generate a global crisis. They do […]
Apple Inc. shares tumbled, wiping out $32 billion in market value, after disappointing iPhone sales rekindled concerns over whether the company can keep making must-have products. Even though iPhone sales climbed 35 percent to 47.5 million units in the fiscal third quarter, the result fell short of the 48.8 million shipments projected by analysts. That, plus a revenue forecast for the current period that missed estimates, on […]
An Apple iPhone 6 is seen on display at the Apple store on 5th Avenue in the Manhattan borough of New York City, July 21, 2015. Reuters/Mike Segar Forget that iPhone unit sales were not as strong as many had expected; that the revenue forecast fell short of the average estimate, and that there was no clarity on Apple Watch sales. Analysts, for the most part, remain […]
