|By Arabian Post Staff| The way gold is bought and sold in London, the world’s largest gold-trading hub, may finally give way to newer methods to ensure that the city retains its status as a major gold hub. Currently, more gold is sold and bought in New York and Shanghai than London. Reports suggest that the London Bullion Market Association and the World Gold Council are pursuing […]
NATHU LA NEW OUTPOST OF COMMERCE
By Ashis Biswas
While investors and business circles grumble over the tardy pace of growth in Indo-China bilateral trade through the Nathu La Himalayan outpost, Beijing is apparently not too keen to launch any export promotion initiative just yet. In the context of India’s large trade deficit vis-à-vis China, the reverse trend at Nathu La, where China imports far more from India than it exports, strikes most observers as an oddity.
In statistical terms, the volume of trade has increased considerably. In 2006, when movement between the two countries was resumed linking Sherathang, Nathu La in Sikkim with Rinqinjing, once part of the Tibet autonomous area(TAR)which is currently Southwest China, there was a trade turnover of Rs 20 lakh only !And there was nil import from China that year.
However, by Jan 2015,
|By Arabian Staff| Additional information forthcoming from state-owned Saudi oil giant Aramco suggests that the proposed IPO may be restricted to refining and other similar activities rather than the parent company as a whole. Aramco clarified in a statement the other day that while the company was studying options including a full initial public offering, one of the options under consideration is “listing of a bundle” of […]
|By Arabian Post Staff| Gold seems to be re-discovering its safe haven status in the wake of a turmoil that billionaire investor George Soros describes as the beginning of a global market crisis. Bullion rallied above $1,100 an ounce, rising for a fourth day to a two-month high, after Chinese shares plunged, the yuan slid and the country’s stock exchanges closed early for the second time this […]
|By Matein Khalid| 2015 has been a horror story for emerging markets and Asian shares have not escaped the fallout from the 40% plunge in Shanghai/Shenzhen since June. Yet financial markets discount the future while UAE investors invariably extrapolate the recent past. So even while I resurrect the ghosts of 1998 when Suharto’s regime fell amid anti-Chinese riots in Jakarta, South Korea was forced to accept a […]
Iran’s president and foreign minister dropped hints on Friday of movement toward a resolution in the fates of Americans imprisoned or missing in Iran. The president, Hassan Rouhani, who was visiting New York for the annual United Nations General Assembly gathering, told guests at an invitation-only meeting in a nearby hotel that he wanted the governments of Iran and the United States “to be helpful” in finding […]
UAE. H1 2015 saw 11 IPOs in the Middle East and North Africa (MENA) region, raising capital of over US$2.4b, according to EY’s MENA IPO Eye – H1 2015. Deal volume decreased by 31% and proceeds raised decreased by 1% in H1 2015, compared with H1 2014. Egypt and Saudi Arabia witnessed the highest number of IPOs with five and three IPOs respectively. Q2 2015 saw a significant […]
Emirates National Oil Co. increased its offer to buy Dragon Oil Plc to 800 pence ($12.50) a share, winning support from minority owners including billionaire Paul Singer’s Elliott Advisors U.K. Ltd. that rejected ENOC’s offer in June. Elliott and Baillie Gifford & Co., which hold a combined 13.1 stake in Dragon Oil, have accepted the new price, ENOC said in a statement. ENOC had offered to buy […]
The Abu Dhabi Securities Exchange (ADX) is considering introducing with the Dubai Mercantile Exchange (DME) futures and options contracts for specific Abu Dhabi stocks as well as market index futures, a top DME official said. The exchanges have established a joint committee which will examine the issue over the next few months, DME Managing Director Owain Johnson told Reuters. “You have to go to the market and […]
A surge in shares of Amlak Finance since they returned to Dubai’s stock market last month has raised concerns about a new wave of unbridled speculation on one of the region’s biggest exchanges. The Islamic mortgage lender has soared about 150 percent since it restarted trading in early June after a six-year suspension due to debt problems. At its latest close of 2.52 dirhams, the stock is […]
|By TAP Staff| The Saudi stock market, the largest market in the GCC with a total market capitalisation of approximately$550 billion, is drawing interest from a large number of potential foreign investors. The Saudi Stock Exchange opened to qualified foreign investors (QFI) for the first time one month ago. Increased participation from international financial institutions is primarily designed to help enhance the sophistication and stability of the […]
|By Matein Khalid| De Gaulle dissed gold as a “barbarous relic” and Lenin sneered the yellow metal was fit only to “pave capitalist latrines”. So what? Gold has been an monetary metal in human history for centuries, back to the time of Pharonic Egypt, the Inca Empire, King Midas and the Spanish conquistadores of Mexico. While President Nixon removed the gold/dollar Bretton Woods linkage in 1971 and […]
Dubai has overtaken other financial centres in listing Islamic bonds on its exchanges, and is mounting a global drive to attract more listings while developing new channels to trade sukuk, the chief executive of Nasdaq Dubai said. “Demand for Islamic financial products still exceeds supply — there are very few financial products for which this is true,” said Hamed Ahmed Ali. The exchange is working on ways […]
Few events will be as significant for the world in the next 15 years as China opening its capital borders, a shift that economists and regulators across the world are now starting to grapple with. With China’s leadership aiming to scale back the role of investment in the domestic economy, the nation’s surfeit of savings — deposits currently stand at $21 trillion — will increasingly need to […]
N.R. Narayana Murthy acknowledges the media in Calcutta August 20, 2002. Reuters/Jayanta Shaw/Files MUMBAI The Securities and Exchange Board of India (SEBI) has named Infosys founder N.R. Narayana Murthy to head a panel that will devise rules for a new funding platform for homegrown start-ups, the regulator said on its website. In March, SEBI announced an alternative investment platform targeted at the country’s booming internet start-ups, relaxing […]
The two main stock exchanges in the United Arab Emirates are trying to attract market makers but some industry professionals say Abu Dhabi is offering more generous financial terms and more liberal rules than Dubai, suggesting it may have more success. Market makers stand ready to buy and sell stocks at all times, improving liquidity on an exchange – something which may be increasingly important as Abu […]
Borse Dubai ruled out any sale of its shares in Nasdaq OMX Group on Thursday after shedding its entire 17.4 percent stake in the London Stock Exchange (LSE). The firm had been the biggest single shareholder in the LSE prior to the sale, which occurred on Wednesday through a so-called book building process which a source familiar with the matter told Reuters on Thursday happened at 22.50 […]
|By TAP Staff| Dubai’s stock exchange operators Borse Dubai Ltd said it was selling its remaining stake of 17.4 percent in the London Stock Exchange Group. Borse Dubai holds the biggest shareholder in the premier global exchange, valued at about $2.2 billion. Borse Dubai is the holding company for Dubai Financial Market (DFM) and NASDAQ Dubai. Borse Dubai was created 6 August, 2007 to consolidate the Government […]
Orascom Construction has started proceedings for the demerger of the company’s units with its engineering and construction business to be listed on exchanges in Egypt and Dubai, the Amsterdam-listed firm said on Monday. The demerger of the engineering and construction business from its fertilisers and chemicals’ unit will take place on March 7, the company forecast in a statement. Orascom Construction will re-list on Egypt’s bourse, having […]
If you have an Xbox and you’re having a hard time signing on to Xbox Live, there may be a nefarious reason for that. A hacker group that made a name for itself by attacking online gaming services has apparently struck again. In a Twitter post, Lizard Squad claims it took Xbox Live down. This is the same Lizard Squad that executed a distributed denial of service […]
Three more private companies are expected to list shares on the UAE stock exchanges’ secondary market by mid-2015, the head of the stock market regulator said after the first two firms began trading on the platform on Tuesday. Announced in September, the new platform aims to encourage many of the Gulf state’s private companies, including family-owned firms who dominate the business landscape, to trade their shares through […]
NEW DELHI: The government will soon relax the rules so that road developers can sell their completed or stuck project, which will free them up to invest in other road projects that have found few takers in recent years. The current rules say developers have to hold at least 26 per cent stake in highway projects, tying them to projects executed by them. The road ministry […]
Kolkata: The fear of bad loans and limited lending opportunities to top companies have prompted several banks to shift focus towards the retail (individual loans) and small & medium enterprises segments. India Inc’s reluctance to borrow money is keeping bankers worried. While lenders were able to stem fresh impairment in their credit quality in the July-September period, low demand for corporate loans has decelerated the growth in […]
