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The wrenching selloff in U.S. high-growth technology and biotech shares could leave investors braced for more than a minor pullback when earnings pick up speed this week. First-quarter earnings estimates have fallen sharply as many companies have blamed the brutal winter for weak outlooks. With high-valuation stocks under pressure, earnings could be subjected to even more investor scrutiny than usual. “There’s skepticism among investors about the outlook, […]

Dubai’s benchmark stock index fell the most in a month, tracking a decline in global markets last week, on investor concern this year’s rally was overdone given prospects for earnings growth. Saudi Arabia’s gauge dropped. The DFM General Index tumbled 1.7 percent, the most since March 12, to close at 4,759.15 in the emirate. Dubai Islamic Bank , the United Arab Emirates’ biggest shariah-compliant bank, declined for […]

|By TAP Staff|  FDI investment in the UAE reached US$ 12 billion in 2013 and is projected to grow 20 percent in 2014 to reach US$ 14.4 billion, according to Fortress Investments. The estimated growth rate in 2014 would represent a 260 percent increase over 2008, which not only demonstrates full recovery from the global financial crisis, but reflects huge future growth potential for UAE economy that […]

Grand Prairie-based Six Flags Entertainment Corp. is again attempting to broaden its international reach beyond North America into the Middle East. The theme park owner and operator said it’s partnering with Meraas Leisure and Entertainment, a Dubai-based real estate development company, to open a Six Flags-branded park in Dubai in the United Arab Emirates. The project will open in 2017 and be located in a multi-themed park […]

The U.S. government warned banks and other businesses on Friday to be on alert for hackers seeking to steal data exposed by the “Heartbleed” bug, as a German programmer took responsibility for the widespread security crisis. On a website for advising critical infrastructure operators about emerging cyber threats, the Department of Homeland Security asked organizations to report any Heartbleed-related attacks, adding that hackers were attempting to exploit […]

Warburg Pincus, the private-equity firm managing about $37 billion in assets, is considering investments in Africa and the Middle East as capital starts to flow back into emerging markets. “We are looking beyond the core euro-zone markets into the rapidly growing emerging markets around Europe for investment opportunities,” Joseph Schull, head of Warburg Pincus in Europe, said in an interview yesterday. “Africa is the next big frontier […]

Shareholders of Dubai property developer Deyaar have approved a plan to allocate 25 percent of its share capital to foreigners, the company said on Saturday. At present, investors in Gulf Cooperation Council countries can own up to 49 percent of Deyaar’s shares; they currently hold 3.7 percent, bourse data shows, while those from outside the GCC have not been allowed to own any stake. The company said […]

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|By TAP Staff| A new Citibank report on Dubai property market asserts there is little room of investors to show complacency as the measures to curb speculative demand and to strengthen the prudential regulation of the real estate and banking sectors so far do not remove the threat of a repeat of property-led volatility of 2008-09. As Dubai’s property market booms and large-scale projects are announced, parallels […]

 MasterCard , eServGlobal and BICS announced the successful closing of its joint venture HomeSend.  HomeSend will provide an important link between developed and financially underserved emerging markets, particularly for foreign workers in need of an instantaneous and cost-effective solution for funds transfer. The World Bank estimates that the world’s 232 million international migrants are expect to remit over US$700 billion annually by 2016. The company will be […]

AP | New York | Microsoft Corporation unveiled a new virtual assistant for Windows Phone devices Wednesday as it seeks to gain traction in a highly competitive and lucrative market for smartphones. The assistant, Cortana, is named after an artificial-intelligence character in the company’s ”Halo” video games. Cortana tries to be chatty like Apple’s Siri, while anticipating information you might want, like Google Now. Cortana is among the new […]

STORY HIGHLIGHTS Property in Beirut has grown impressively despite war in neighboring Syria Real estate purchases totaled $8.7 billion in 2014 alone Roughly 400 building projects are currently underway in the Lebanese capital, local experts say One Square Meter explores the leading architectural designs, city plans and demand for property investment in emerging markets. Join CNN’s John Defterios as he visits some of the world’s most dynamic […]

General Motors Co CEO Mary Barra came under withering attack for her company’s decade-long failure to deal with defective parts linked to fatal crashes, in a hearing where U.S. Senators accused the company of “criminal” behavior and “a culture of cover-up.” Democratic and Republican senators, including some former prosecutors and state attorneys general, challenged Barra’s assertion that GM had vastly improved its safety and management practices since […]

As investors dump emerging-market equities at an unprecedented clip, they’re turning more and more to frontier markets in search of the next growth story. No exchange-traded fund focused on developing nations has grown faster in the past year than BlackRock Inc. (BLK)’s iShares MSCI Frontier 100 fund, whose biggest holdings are in Kuwait and Qatar. Assets under management surged nine-fold to $594 million, fueled by $465 million […]

Middle East fund managers are willing to buy most of the region’s main equity markets on dips, believing corporate earnings and balance sheets will continue improving this year, a monthly Reuters survey shows. Markets retreated early this month as retail investors rushed to take profits during the worst of the geopolitical uncertainty over Ukraine. Dubai’s bourse fell 6.7 percent from its peak close to its trough. Qatar’s […]

UBS AG suspended foreign-exchange traders in the U.S., Singapore and Switzerland as its investigation into the alleged rigging of currency markets widened, according to a person with knowledge of the matter. They include Onur Sert, an emerging markets spot trader based in New York, and at least three more worldwide, said the person, who asked not to be identified because of the probe. Sert and Dominik von […]

A US federal appeals court upheld the conviction of former Goldman Sachs Group Inc director Rajat Gupta, one of the biggest successes in federal prosecutors’ long-running probe to stop insider trading on Wall Street. The 2nd U.S. Circuit Court of Appeals rejected Gupta’s claim that wiretap evidence should not have been admitted to show that he leaked news about Goldman’s finances, including a crucial investment by Warren […]

|By K Raveendran| Samena Capital, an investment firm founded by Shirish Saraf, a former colleague of Arif Naqwi in Abraaj Capital, is in talks to buy as much as 50 percent of RAK Ceramics, the world’s biggest maker of ceramic tiles, according to two people familiar with the matter. Established in 2008, Samena Capital focuses on the Subcontinent, Asia, Middle East and North Africa, collectively the SAMENA […]

Dubai Investments, a diversified manufacturer and investor in property, plans to increase the limit on foreign ownership of its shares to 35 percent of its total capital, the company said on Sunday. Foreign investors now hold 13.7 percent of Dubai Investments’ shares out of the total 20 percent allowed, bourse data shows. The firm’s shareholders, including sovereign fund Investment Corp of Dubai which has an 11.5 percent […]

Wall Street leaders including Lloyd Blankfein and James Gorman, who have courted business in Vladimir Putin’s Russia, are facing a dilemma as tensions over Ukraine escalate. Their scheduled attendance at Putin’s annual investor showcase in St. Petersburg in May is in doubt as sanctions imposed by the U.S. in response to Russia’s annexation of Crimea — and retaliatory moves by Putin — threaten the ties between Russia’s […]

|Blaise Robinson| Reuters| Traders work on the floor of the New York Stock Ex Traders work on the floor of the New York Stock Exchange February 3, 2014. REUTERS/Brendan McDermid A Reuters’ poll of economists shows non-farm payrolls are expected to have grown by 185,000 last month, snapping back from December’s three-year low. “Following the surprisingly weak figure for December, investors’ expectations are quite low this time, so […]

BlackRock Inc.’s Sam Vecht says investors are following the herd in selling emerging markets to invest in the most-developed economies, a strategy that has historically yielded “underwhelming” results. Investors “are selling emerging markets which have very low valuations, significant dividend yields but have underperformed in recent times,” Vecht, London-based manager at BlackRock Emerging Europe Trust Plc, said in e-mailed comments yesterday. In exchange, they’re buying assets in […]

Within 18 months of leaving his trading job to open a lunchtime eatery at the Dubai financial center in 2011, Nabil Al Rantisi was back: selling stocks and rebuilding one of the city’s largest brokerages. “I saw my window of opportunity,” Rantisi, managing director of Mena Corp Financial Services LLC, said in a March 9 telephone interview from Dubai. “Things started picking up in September 2012. By […]

Dubai property prices rose by almost 35 per cent last year, according to the latest Global House Price Index by a  UK-based consultancy. Prices were just 25 per cent below their 2008 peak, it said. “Dubai recorded the largest annual rise in mainstream property prices with prices rising 15.3 per cent in the six-month period (Q2 to Q4 2013),” the report said. In February, JLL, a real […]

|By Rajhkumar K Shaaw and Santanu Chakraborty| For the first time in five years, Nilesh Dedhia is buying Indian stocks. The 48-year-old owner of a die-casting factory in Mumbai is among a growing number of local investors returning to the $1.2 trillion equity market on speculation national elections in May will deliver a government with the mandate to revive economic growth from a decade low. That optimism […]

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