Letters spell the word ”Alphabet” as they are seen on a computer screen with a Google search page in this photo illustration taken in Paris, France, August 11, 2015. Reuters/Pascal Rossignol Google, which has now morphed into holding company Alphabet Inc (GOOGL.O), is in talks with messaging startup Symphony Communication Services LLC for a round of fundraising, a person familiar with the matter told Reuters. Symphony’s chat […]
Computer screens display the Facebook sign-in screen in this photo illustration taken in Golden, Colorado July 28, 2015. Reuters/Rick Wilking SAN FRANCISCO Facebook Inc (FB.O) rolled out updates to mobile profile pages to enable users to better personalize their profiles and more easily control their privacy settings. Facebook has sought to improve and ease its mobile profile experience as it makes more of its $10 billion-plus in […]
UAE The next six months may prove a pivotal turning point in the recovery of global commodities markets according to Ole Sloth Hansen, Head of Commodity Strategy at Saxo Bank, the online trading and multi-asset investment specialist. Following nine months of geo-political incidents in Europe and the Middle East, and widespread uncertainty catalysed by major economic crises in Greece, Russia and China, Hansen is optimistic the next […]
Computer screens display the Facebook sign-in screen in this photo illustration taken in Golden, Colorado July 28, 2015. Reuters/Rick Wilking Facebook Inc (FB.O) restored access to its social media website for most users on Monday afternoon, after its second outage in less than a week. According to Currentlydown.com, Facebook was down for about 42 minutes between 3 p.m. and 4 p.m. ET. (bit.ly/1LhwMao) “We are currently restoring […]
SHARJAH // Young and old turned out in their hundreds to cast their ballots in Sharjah. Walking with the aid of a cane and his son, Abdullah Suhail, 85, was voting for the first time. “Our family have chosen to support a candidate and I came here to do so,” he said. From near the border with Oman, Heira Al Katbi and her daughter Fatima came to […]
SAN FRANCISCO/SYDNEY The iPhone 6s and 6s Plus hit stores around the world on Friday, kicking off what is expected to be a record weekend of sales as customers scrambled to buy Apple Inc’s (AAPL.O) marquee product in pink for the first time. Eager buyers – joined by at least one robot – flocked to Apple stores from Sydney to New York and San Francisco, itching to […]
INTERNATIONAL. Gleaming glass skyscrapers, state-of-the-art technology, and wealthy merchant families have replaced the Gulf’s muddy towns and villages populated by traders and pearl fishers that once lacked electricity, running water or modern communications. The region’s modern day projection of a visionary cutting- edge, 21st century urban environment masks however the fact that some things have not changed. Gulf states continue to be ruled by the same families, […]
|By Ole Hansen| Global markets went quiet ahead of the long awaited Federal Open Market Committee meeting this past week as the first rate hike in almost ten years seemed possible. In the end Janet Yellen and her follow central bankers opted for no change and the statement following the announcement was surprisingly dovish. While US activity and employment data remains strong the extreme market volatility in late […]
DUBAI // The late Sheikh Rashid bin Mohammed has been remembered as a “noble knight” who raised the flag of the UAE, as tributes continued to flow after his death on Saturday. Condolences were offered on Sunday at Zabeel Palace to Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, for the death of his eldest son after a heart attack at the age of 33. […]
Middle East By ISABEL KERSHNER September 18, 2015 JERUSALEM — Mahmoud Abbas, president of the Palestinian Authority, called Pope Francis to brief him on the “ongoing Israeli aggression in occupied East Jerusalem, and particularly against Al Aqsa Mosque.” Benjamin Netanyahu, the Israeli prime minister, told the United Nations secretary general, Ban Ki-moon, that “Israel is acting against the violence on the Temple Mount” and “is strictly maintaining the status […]
|By Matein Khalid| The world’s emerging markets have been savaged by multiple economic, banking, currency and political shocks since 2011. Global emerging markets are far too diverse and nuanced to be analyzed as a single asset class but now trade at a 24% valuation discount to developed markets. The financial markets now price draconian scenarios for earnings, exports, sovereign credit, industrial production and economic growth. The shortage […]
Oil extended its decline below $45 a barrel in New York as a further pullback in US drilling failed to temper expectations that the global oversupply will persist for most of next year. West Texas Intermediate futures slipped 0.5 per cent after declining 2.8 per cent on 11 September when Goldman Sachs said the surprising endurance of the surplus could push prices down to $20 a barrel. The discount […]
LEBANON. On Sept. 11, 2015, Standard & Poor’s Ratings Services revised its outlook on the Republic of Lebanon to negative from stable. At the same time, we affirmed our ‘B-/B’ long- and short-term foreign and local currency sovereign credit ratings. RATIONALE The outlook revision stems from our view that political uncertainty in Lebanon and regional tensions will continue to weigh on economic growth in the mediumterm. In […]
Apple unveiled its iPhone 6S (pictured) and 6S Plus today at its annual new product blowout in San Francisco. The form factors and screen sizes of the two phones (4.7 inches and 5.5 inches, respectively) are the same as previous models, but that’s about where the similarities end. The big news on the iPhone 6S and 6S plus is the new input feature, previously called Force Touch […]
|By Matein Khalid| The Federal Reserve could well raise its overnight borrowing rate at the next FOMC monetary policy conclave on September 17. Though contagion from China’s 40% stock market meltdown has triggered bear markets from Hong Kong to Frankfurt and plunged Asian/emerging markets equities into ta ghastly replay of 1998’s epic meltdown (General Suharto’s overthrow, the Russian rouble default, Malaysia’s capital controls, the run on the […]
BAGHDAD — Having sold his car for $4,600, and then some of his wife’s jewelry, and having loaded his smartphone with photographs of his five children, all that was left for Haider Abdella to do was say goodbye. “From yesterday to today, we are crying,” he said. His mother sat next to him on the couch, sobbing. “He’s never left me before, from when he was a […]
|By Matein Khalid| Hong Kong now trades at 9.6 times earnings and 0.86 book value. Hang Seng valuations were gutted by the protest movements in Central and the Shanghai financial meltdown. The Hang Seng index is down 25% since late May and now trades at six times forward earnings, its post Lehman, post 2014 bottom. Hong Kong trades at its lowest price/book value since the Asian flu […]
Neon tubes are placed in a trash can in Vincennes near Paris May 22, 2009. Reuters/Charles Platiau/Files OSLO Only a third of Europe’s electronic waste is properly recycled, with vast numbers of cellphones, computers and televisions illegally traded or dumped, a study led by the United Nations and INTERPOL said on Sunday. Sweden and Norway were close to European targets of collecting and recycling 85 percent of […]
|By Matein Khalid| A month ago, I published a column predicting history’s first Made in China global recession. Wall Street finally agreed with me last week after we witnessed the most brutal crash in global equities since October 2008. I have predicated a 20% fall in US equities several times in the last three months and the 1000 point drop in the Dow last week only reinforces […]
|By Matein Khalid| Geopolitics is now another source of risk for the Turkish lira, government debt and Istanbul equities. The Turkish air force is bombing Daish in Syria and the secessionist Kurdish PKK party in northern Iraq. Suicide bombings have killed Turkish citizens in eastern Anatolian cities on the Syrian border. Ankara has given the US a green light to launch military airstrikes from the Incerlik air […]
Dubai Gold and Commodities Exchange (DGCX) has appointed Gaurang Desai as its chief executive officer. As one of the founding members of the team that set-up DGCX in 2005, Desai is ideally positioned to take the exchange to its next stage of development, said a statement. Gautam Sashittal, chief executive officer of Dubai Multi Commodities Centre and director of DGCX, said: “We are delighted to appoint a […]
Headsets hang in front of a screen displaying a Spotify logo on it, in Zenica February 20, 2014. Reuters/Dado Ruvic/Files EDGARTOWN, Mass. If hearing Barack Obama break into song hasn’t satisfied your presidential music needs, you can now listen to his playlists on Spotify. The White House on Friday released two music sets “hand-created” by the president of the United States for daytime and evening listening as […]
QADIYA, Iraq — In the moments before he raped the 12-year-old girl, the Islamic State fighter took the time to explain that what he was about to do was not a sin. Because the preteen girl practiced a religion other than Islam, the Quran not only gave him the right to rape her — it condoned and encouraged it, he insisted. He bound her hands and gagged […]
