|By Arabian Post Staff| Gold plunged after trading volume hit 1.8 million ounces in just one minute and gold traders were shaken by the plunge, Bloomberg reported. Gold traders shaken awake by Monday’s rapid price plunge said the move probably won’t mean an end to the sleepy pace that’s characterized the market in recent months. Bullion sank at 9 a.m. in London on Monday after a huge spike […]
|From Anand Vardhan in Denpasar, Bali| The Middle East crisis, which has seen the diplomatic isolation of Qatar last week, is expected to impact Indonesia’s tourism and lead to a consequential drop in foreign earnings. Bali, the single largest tourist destination of Indonesia, has been receiving some 400,000 visitors via Qatar, of which 70% are tourists. The anxiety is all the more heightened as a majority of these […]
|By Arabian Post Staff|The London High Court has upheld the injunction granted to ICICI Bank UK against leading diamond merchant family of Mehtas, considered legends in the diamond trading business and pioneers in Indian industry’s inroads to Antwerp. This means that the well-known Mehta family of Belgium lost their bid in London’s High Court to unfreeze certain of their family members’ assets, as they continue to be […]
|By Matein Khalid| The financial markets finally cottoned on the increasingly sordid political realities created by the Trump White House. Trump could well be impeached for obstruction of justice if he tried to pressure FBI Director James Comey to drop an investigation on disgraced General Michael Flynn’s contacts with Russian intelligence before the election. The appointment of a special prosecutor to investigate the scandal means Washington is […]
By Pete Schroeder | WASHINGTON WASHINGTON U.S. Treasury Secretary Steven Mnuchin told lawmakers Thursday that the Trump administration does not actually support separating investment and commercial banks. The administration has previously expressed support for some return of the Glass-Steagall Act, which established a firewall between investment and commercial banking. But Mnuchin was explicit before the Senate Banking Committee that that vision did not include breaking up large […]
Tomorrow’s computers will run on light, and gold nanoparticle chains show much promise as light conductors. Now scientists have demonstrated how tiny spots of silver could markedly reduce energy consumption in light-based computation. (via WSJ)
A festival, unlike, say, a concert or exhibition, is a contained, utopian world, with a focus on a set of circumscribed pursuits. Like a highbrow summer camp for adults, festivals offer a jot of escapism, a chance to turn our attention away from some of the weightier issues of the past year. What makes them stand apart from other events is the joy of sharing the same […]
Fears over the scale of crisis that Donald Trump’s presidency faces hung over markets on Thursday, with European stocks weaker and those in the US expected to open lower following their worst one-day drop since September. The Stoxx Europe 600, the region’s benchmark, was down 0.8 per cent in mid-session trade while futures suggest the S&P 500 will slip by 3 points to 2.354 when Wall Street […]
Thursday 10:45 BST What you need to know ● Europe and Asia bourses soft after Wall Street sell-off● Futures signal more losses for Wall Street● Dollar finds its footing but pound jumps above $1.30● Yen, gold and Treasuries firm as traders again seek havens ● Brent crude slips back towards $52 a barrel——————- Hot topic US equity futures are weaker while haven assets are again in demand, […]
Here is a selection of five charts that FT Markets believes are worth watching. A fresh chart will be added on a regular basis. 1. Wall Street hit by biggest slide since November US stocks suffered their worst trading day in eight months on Wednesday after political turmoil in Washington shook investors, with some fearing President Donald Trump’s ability to push through his pro-growth policies has been […]
Designers, buyers and influencers have descended on Dubai for Arab Fashion Week, a five-day event dedicated to ready couture and resort wear for women, men and those who refuse a label. The show opened Tuesday night with Jordanian-Canadian sensation Rad Hourani, known for his unisex designs, Palestinian-American Jenanne Filat and her menswear lineup straight out of Arkansas, and runway darlings Marchesa. Hourani sent his models down the […]
By Shinichi Saoshiro | TOKYO TOKYO Asian stocks fell on Thursday and the dollar was stuck near six-month lows against a basket of currencies as uncertainty mounted over U.S. President Donald Trump’s future following reports that he tried to interfere with a federal investigation. MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.4 percent. Japan’s Nikkei shed 1.5 percent, Australian shares lost 1.2 percent and South […]
Call it the Trump fade? The so-called Trump trade captivated Wall Street after the surprise election of Donald Trump last November. After years of stagnant economic growth in the wake of the financial crisis, the prospect of Mr Trump’s pro-business agenda, combined with Republican control of both executive and legislative branches of the US government, breathed new life into the ageing equity rally, sent the dollar to […]
US stocks were on track for their worst session for eight months on fears that US President Donald Trump’s ability to push through his pro-growth policies will be sidelined by deepening political controversy. The Wall Street benchmark fell 1.3 per cent to 2,369 on Wednesday, shedding all its gains for May, with financial stocks the worst hit as the S&P banks index retreated 3.8 per cent. Shares […]
By Yashaswini Swamynathan The S&P 500 and the Dow were headed for their worst day in more than eight months as reports of a leaked memo by former FBI chief James Comey spooked investors, raising questions about whether President Donald Trump tried to interfere with a federal investigation. Trump asked Comey to end a probe into former National Security Adviser Michael Flynn’s ties with Russia, according to […]
One minute I’m in an office in Dubai’s Jumeirah Lakes Towers; the next, I have been transported to the grounds of a villa in the Sheikh Zayed Housing Programme. I scan the garden – there’s a ball by my feet, so I pick it up and toss it out of the way. Next, I teleport myself just inside the front door. I take a wander around the […]
US stocks were poised on Wednesday to start the trading day on a weak note, while Treasuries rose and the dollar fell, amid mounting concern over the controversies that have engulfed the White House. While Donald Trump’s pro-growth agenda was initially expected to be a boon for risk assets, and a negative for havens, the opposite has played out with increased frequency as the businessman-cum-politician has leapt […]
BANDA ACEH, Indonesia An Islamic court in Indonesia has sentenced two men to 85 lashes of the cane for having sex together, judges in the conservative province of Aceh said, ignoring pleas for clemency from human rights groups. The public caning handed down by a panel of judges is the first time laws against homosexuality, introduced in the province in 2014, have been used. The sentence was […]
● Trump controversies rattle nerves● Dollar index hits fresh six-month low● S&P 500 futures slide, dragging down other equity benchmarks● Yen, gold and Treasury prices rise as traders seek havens● Oil relapses after strong rally The dollar is sliding to six-month low and US equity futures are in retreat as investors fret that president Donald Trump’s ability to push through his mooted pro-growth policies is under threat. […]
Jamie Dimon endured a rough ride at the annual meeting of America’s biggest bank on Tuesday morning, as shareholders repeatedly attacked the JPMorgan Chase chief over his ties to the administration of Donald Trump. In December Mr Dimon was named chairman of the Business Roundtable, a group of almost 200 CEOs which is among the most prominent lobbying groups in Washington. Mr Dimon, chief executive of JPMorgan […]
Instagram just copied the last iconic Snapchat feature, introducing “face filters” that allow users to spice up their selfies with augmented reality elements. Facebook, Instagram and Snapchat have been playing a copycat game for a while now as Facebook gradually “borrowed” more Snapchat features and added them to its own services. The new Instagram selfie filters are like the cherry on top, crowning all other copied elements […]
By Yashaswini Swamynathan The S&P 500 and the Nasdaq drifted higher to hit record intraday levels on Tuesday, supported by gains in technology and consumer staple stocks. As the first-quarter earnings season wraps up, investors’ attention will turn to developments in Washington that could overshadow Republican legislative priorities such as tax reform, healthcare and simpler regulations. Investors were wary after reports that President Donald Trump disclosed highly […]
Is palladium, for the first time in nearly 16 years, about to become more expensive than platinum? The price difference between the two raw materials fell to less than $100 an ounce this month as palladium flirted with its highest price since September 2014 but its cousin eyed its cheapest level in 15 months. Both sometimes can be sensitive to the kind of precious metal cachet afforded […]
Vodafone redials its Indian impairment numbers. FT Opening Quote, with commentary by Matthew Vincent, is your early Square Mile briefing. You can sign up for the full newsletter here. Hailing from the country that gave India cricket, Victorian railway architecture and a penchant for bureaucracy, Vodafone might have expected a little goodwill on the subcontinent. Instead, India has given the British mobile phone operator a price war, […]
