|By Arabian Post Staff| Mubadala’s prestigious business of aircraft parts supply faces the prospects of another Middle East player entering the field, with Iran planning a parts making plant with Airbus. The Abu Dhabi-based Strata has $7.5 billion worth of orders from both Airbus and Boeing Co. for up to 2030. Iran’s alignment with Airbus is becoming clearer following the signing of a milestone agreement to purchase 118 jetliners from the European […]
|By Lawrence Williams| The most recent call by Goldman Sachs to once again sell gold short has not, so far been a good move by the investment bank, and it comments in its latest research that it is down 5% on the call – with a stop loss indicated at 7%. But, it also reiterates that it remains confident in its bearish viewpoint and that it still stands […]
|By Arabian Post Staff| The benefits of this prolonged period of very low oil prices are diminishing for some corporate finance sectors or even starting to have a negative impact on others, Moody’s Investors Service said in a report. The exploration & production, oilfield services, building materials and steel industries continue to bear the immediate effects of low oil prices. The global oversupply, combined with additional exports […]
|By Arabian Post Staff| The introduction of a new technique, using excavators that could virtually be called concrete-eaters, is set to revolutionize the way high rise structures are demolished in the UAE. The new method reduces the time required to bring down a high rise structure to a matter of days, instead of months and years required by conventional methods. The shorter time frames would mean much quicker […]
|By Matein Khalid| The global credit cycle has an immediate impact on the UAE via oil prices, the US dollar peg, cross border bank credit flows, Federal Reserve monetary policy and world trade. The IMF has cut its 2016 growth forecast to 2.6%, the lowest since 2010. A leading developer just booked a 20 fold rise in penalties from walkaway offplan home buyers. Banks hire “loan rangers” […]
Crude oil surged the most in seven years, rebounding from the lowest in more than a decade as equities rallied. Volatility jumped. Futures rose 12 percent in New York and 11 percent in London. U.S. stocks halted a five-day slide that dragged global equities into a bear market. Producers are ready to work together and won’t make cuts unless there’s complete cooperation, United Arab Emirates Oil Minister Suhail […]
|By Matein Khalid| “One country, two systems”. This was the historic formula under which Margaret Thatcher agreed to hand over the British Crown Colony of Hong Kong to the People’s Republic of China, then ruled by Paramount Leader Deng Xiao Ping. The Hong Kong dollar’s spike to 7.81, on the high end of its 7.75 – 7.85 band, demonstrates the sheer scale of the speculative attack against […]
INDIA IN SWEET SPOT TO BALANCE THE ACT
By K R Sudhaman
India is in a sweet spot as global economy is not looking good in the face of market turmoil in China. A global recession triggered by poor showing of European economy had hit badly the export led growth model of China, whose economy grew by 6.9 per cent in 2015, the slowest in two decades. Following this slowdown, high commodity prices had started correcting exerting more pressure on China down turn. The massive over investment in China in steel, cement, shipbuilding, petrochemicals, real estate and other infrastructure sectors began to burst. This volatility in equity and commodity markets did not augur well for the global and Chinese economies. Global economy may not be in a crisis as in 2008 during the financial meltdown but it is certainly not out of the woods and outlook for global economy is certainly bearish in 2016.
A logo is pictured at Google’s European Engineering Center in Zurich April16, 2015. Reuters/Arnd Wiegmann/Files LONDON A British parliamentary committee will ask Google to testify about a back tax deal under which it will pay 130 million pounds ($185 million) to settle claims covering a 10-year period — an amount the opposition Labour party has described as derisory. Meg Hillier, the Labour party chairwoman of parliament’s Public […]
Senior Saudi and Iranian figures clashed behind closed doors at a private meeting convened by the World Economic Forum in Davos this week to try to promote peace in Syria, participants said. The barbed exchange between Saudi Prince Turki al-Faisal and Iranian Foreign Minister Javad Zarif at an invitation-only meeting on Wednesday underlined the hostility between the two Gulf rivals, who are waging proxy wars in Syria, […]
Reuters/Stephen Lam (Corrects spelling of Prem Sikka) By Tom Bergin LONDON Google has agreed to pay 130 million pounds ($185 million) in back taxes to Britain, prompting criticism from opposition lawmakers and campaigners who said the “derisory” figure smacked of a “sweetheart deal”. Google, now part of Alphabet Inc, has been under pressure in recent years over its practice of channelling most profits […]
The removal of sanctions on Iran may trigger at least $50 billion a year in foreign investment to finance a rebound in an economy hit by the oil slump, the country’s central bank governor said. “Our country can absorb a great deal of foreign investment, considering its potential,” Valiollah Seif said in an interview Wednesday at his office in Tehran, days after the trade and financial curbs […]
|By Matein Khalid| I had called for Brent crude to fall to $30 in successive columns since the November 2014 OPEC conclave in Vienna, when Saudi Arabia abandoned its traditional role as the “swing producer” the central bank of black gold. The world oil markets now face a supply shock, a demand shock, epic volatility and the loss of the “swing producer”. The world is running out […]
As the chattering chieftains of the global economy gather this week in Davos, Switzerland, they’re facing the darkest outlook since the financial crisis tipped the world into recession seven years ago. The Chinese slowdown and accompanying slide in the yuan are imperiling already sluggish international growth, oil is trading at its lowest level in more than a decade, stocks have suffered their worst January ever, and the […]
In a world awash with cheap oil, buyers in the world’s biggest consuming region aren’t clamoring for an additional 500,000 barrels a day from Iran. As international sanctions against the country are lifted and Oil Minister Bijan Namdar Zanganeh looks to make good on his pledge to regain market share lost in Asia, he’ll have to contend with a global glut that’s dragged down prices and spawned […]
Iran’s release from sanctions testifies to its new relationship with the United States as it moves from pariah state to regional power, a status that could come at the cost of Saudi Arabia, Washington’s chief Arab ally. Enemies and allies alike must adjust to Iran becoming an uninhibited power broker in the Middle East after its nuclear deal with world powers and Saturday’s lifting of sanctions that […]
After a decade of unprecedented economic sanctions, Iran is about to be back in business. The Islamic Republic curbed its ability to make a nuclear bomb as required under a deal with world powers, clearing the way for it to resume global commerce, the International Atomic Energy Agency said Saturday. The European Union, United Nations and U.S. agreed in July to lift sanctions simultaneously once compliance was verified. […]
Oil gained for a second day as Saudi Arabia cut ties with Iran a day after its embassy in Tehran was attacked to protest the Saudis’ execution of a prominent Shiite cleric. Futures rose as much as 3.5 percent in New York, extending Thursday’s 1.2 percent advance. Iran’s Supreme Leader Ayatollah Ali Khamenei warned of repercussions and protesters armed with rocks and firebombs attacked the Saudi embassy […]
|Arabian Post Special|The UAE Central Bank is solidly backing the UAE banks in dealing with the ‘de-risking’ policies imposed by US banks on the UAE banks. The central bank is seized of the problems faced by the UAE banks in this regard. The new U.S. regulations have imposed extra burdens and costs on banks in the United States, which is forcing these banks to cut their international […]
Crude slid to the lowest level in more than six years in New York as a rising number of oil rigs in the U.S. signaled the supply glut will be prolonged. Futures dropped as much as 1.9 percent after Baker Hughes Inc. reported that the number of active oil rigs in the U.S. climbed by 17 this week to 541. U.S. crude stockpiles surged to 490.7 million […]
Leading memory chipmaker Micron Technology Inc. is going all in on Inotera Memories, snapping up the remaining shares of the company it doesn’t already own. The sale price: about $3.2 billion. Micron already owned 33 percent of Inotera, which it acquired from Qimonda in 2008. Inotera, which provides DRAM foundary services based on 30nm process technology, produces about 120,000 wafer starts every month for Micron. “The acquisition […]
TURKEY’S LINKS WITH TERROR FUNDS EXPOSED
By Arun Srivastava
French President François Hollande entering into an alliance with the Russian President Vladimir Putin with the objective to build a global military coalition to defeat Islamic State following the Paris attacks has unnerved the USA. This is yet another major setback for the USA. The two leaders agreeing to share intelligence information and cooperate on selecting targets in the fight against ISIS has turned the Obama administration scared of losing its authority and policy of hegemony.
The French president has won public approval and international backing for his handling of the crisis so far. His poll ratings are up by eight points to 33%. Foreign leaders have lined up to express solidarity. For the USA coming together of the leaders does not augur well. So far France has been close to the USA. Fr
|By Arabian Post Staff| Emirates and Malaysian Airlines agreed a huge code-share deal, allowing the airlines to sell tickets to more long-haul destinations. The accord covers more than 90 locations in the U.S., Europe, the Middle East and Africa served via Emirates’s Gulf hub, according to the airline, which will sever 10 code-share agreements with existing partners and drop its own direct flights to Paris and Amsterdam next […]
Gold prices rebounded off five-year lows on Monday as some investors rushed to grab a bargain while others closed out bets on weaker prices to lock in gains on the recent slide. The most actively traded gold-futures contract, for February delivery, was recently up $6.10, or 0.6%, at $1,062.20 a troy ounce on the Comex division of the New York Mercantile Exchange. Prices slid to $1,056.20 an […]
