A landmark ruling by the court system in Dubai’s financial free zone suggests the emirate is starting to influence the way international business disputes are resolved in the Middle East, partly taking over that role from London and New York. Last month a court in the Dubai International Financial Centre (DIFC) found Switzerland’s Bank Sarasin had mis-sold $200 million of investment products to Kuwait’s prominent Khorafi family, […]
By BRUCE WEBER September 27, 2014 Michael Harari, an Israeli intelligence agent who led the hit squad that was sent to avenge the murders of 11 Israeli athletes by Palestinian terrorists at the 1972 Olympic Games in Munich, died on Sept. 21 in Tel Aviv. He was 87. His death was reported by The Associated Press, citing a statement by Israel’s prime minister, Benjamin Netanyahu, who called Mr. Harari […]
The gold price dropped on Monday September 22nd to USD 1212 and EUR 942. Dollar gold is close to retest its bottom for the third time since mid-2013, a price level which was seen only in the summer of 2010. For readers seeking to understand what is going on, we are providing a comprehensive view on the gold market. We take all perspectives into account: price and chart patterns, […]
Actress Emma Thompson and her daughter Gaia take part in the “People’s Climate March” in central London Photo: REUTERS Down with climate change! Listen – and heed – Emma Thompson’s dire warning on global warming! There now, how’s that? Having satisfied everyone’s environmental conscience, let’s tackle the other burning (but, let me stress, not fossil-fuel) issue at the heart of the People’s Climate March in London at the […]
The Dow Jones Industrial Average (DJIA) Index is the only stock market index that covers both the second and the third industrial revolution. Calculating share indexes such as the Dow Jones Industrial Average and showing this index in a historical graph is a useful way to show which phase the industrial revolution is in. Changes in the DJIA shares basket, changes in the formula and stock splits […]
Hedge funds extended this year’s longest exit from bullish gold bets as slumping prices and investor outflows since June erased $6.7 billion from the value of exchange-traded funds backed by the metal. The net-long position in New York futures and options fell for a fifth straight week, with speculators boosting short bets to the highest since June, U.S. government data show. Investors sold 7.75 metric tons of […]
Three years after its first foray into the Islamic capital markets ended without a sale, investors piled in to buy sukuk debt from Goldman Sachs Group Inc. (GS) yesterday as the bank joined the governments of Hong Kong and the U.K. in selling debut Shariah-compliant bonds this year. The New York-based lender attracted bids for three times the $500 million of sukuk it sold yesterday, according to […]
China will launch its international gold exchange 11 days ahead of schedule, sources said on Tuesday, racing ahead in the scramble to set up an Asian bullion benchmark as rival Singapore is forced to delay its gold contract due to technical issues. Asia, home to the world’s top two gold buyers – China and India, has been clamouring to gain pricing power over the metal and challenge […]
|By TAP Staff| Dubai added to its financial market profile when Bank of America-Merrill Lynch announced on Monday it was moving its head of frontier markets research to the city. The move reflects the bank’s plan to take advantage of growing investor interest in the Gulf and surrounding region. Global firms have been strengthening their presence in the wake of surging stock markets, index upgrades and most […]
|By TAP Staff|The rising popularity of Islamic finance in the West is prompting analysts to conclude that the world is finally recognizing the fact Islamic finance is not just for Muslims and it ready to go mainstream. Islamic finance received a shot in the arm recently with the move by US investment bank Goldman Sachs to revive plans to issue its first sukuk. In June when the […]
|By Winfried Weber| German Mittelstand has become a new role model for managers from all over the world. A pilot study of Mannheim Institute of Applied Management Research found that mostly managers from Asia and emerging countries are attracted by the German Mittelstand model and send delegations to learn more about it. They come directly to Germany as the management education programs taught at business schools or […]
|By TAP Staff| Asia is giving expression to its growing disenchantment with the prevailing West-centred gold pricing mechanism by setting in place its own benchmarks that reflect the region’s market dynamics. China and Singapore are preparing to launch physical bullion contracts with an eye on gaining pricing power of the metal at a time when the global benchmark is under scrutiny. CME Group, the world’s leading derivatives […]
Verizon plans to launch an “over-the-top” digital video broadcasting service by the middle of 2015, CEO Lowell McAdam said Thursday. Speaking at Goldman Sachs’ Communacopia conference, McAdam said the service would deliver video content to wireless devices on an a la carte basis. “No one wants to have 300 channels on your wireless device,” McAdam said, according to a transcript of the talk published on the investment […]
The 1980s and 1970s were many things – but only a fool, wallowing in a Slush Puppie vat of nostalgia, could claim they were a golden age of childhood Crouching over a tape recorder in an attempt to capture the Top 40 on a TDK magnetic cassette; writing letters to an overseas penfriend; popping down to Boots to have your holiday snaps developed. These are just some […]
The new iPhone 6 isn’t simply bigger, Apple claims, it’s better in every way. The two new models, called the iPhone 6 and iPhone 6 Plus are larger, yet thinner than the iPhone 5, and supposedly more powerful and more power efficient. Apple describes the iPhone 6, which CEO Tim Cook debuted in Cupertino today, as having a smooth metal surface that seamlessly meets the new Retina […]
The time has come for Apple Watch. Available in 2 sizes, 3 models and a choice of finishes, including aluminum, stainless, and 18-karat gold, some may think it looks a bit like an small iPhone you wear on your wrist. However, the list of features is extensive and some quite useful. And as you would expect from Apple, the polished design and use of premium materials is […]
|By TAP Staff|Goldman Sachs is meeting investors this week for the sale of a dollar-denominated, benchmark-sized sukuk issue through its unit JANY Sukuk Co., people with knowledge of the deal said. The New York-based lender’s first foray into the Islamic capital markets three years ago ended without a sale amid criticism from scholars about the structure of its sukuk program and the use of funds raised. This […]
|By TAP Staff| Gold traded near a three-month low as the dollar advanced on speculation the Federal Reserve will increase interest rates next year, curbing demand. Gold has declined 5.2 percent this quarter as the outlook for higher borrowing costs reduced demand for an inflation hedge. Fed policy makers will meet Sept. 16-17. The Bloomberg Dollar Spot Index, which tracks the greenback against a basket of 10 […]
By Christina Farr SAN FRANCISCO Sat Sep 6, 2014 6:41pm IST The leaf on the Apple symbol is tinted green at the Apple flagship store on 5th Ave in New York April 22, 2014. Credit: Reuters/Brendan McDermid/Files SAN FRANCISCO (Reuters) – Apple Inc has invited top fashion editors and bloggers in unprecedented numbers to its Tuesday launch gala, further evidence that the iPhone maker is preparing to […]
By Liana B. Baker, Avik Das and Soham Chatterjee Sat Sep 6, 2014 5:31am IST People play in a hall inside Alibaba’s headquarters in Hangzhou, Zhejiang province, April 23, 2014. Credit: Reuters/Chance Chan/Files REUTERS – Alibaba Group Holding Ltd seeks to raise more than $21 billion in an IPO that will value the Chinese e-commerce giant at up to $163 billion and rank as the largest-ever technology […]
By Lior Cohen: Silver’s downward trend reached an impasse last week. Let’s examine the relation between silver and U.S. equities and gold. Also, will the upcoming non-farm payroll report adversely impact the price of silver? Last week, silver inched up 0.2%. The silver ETF, iShares Silver Trust (NYSEARCA:SLV), also edged up by 0.1%. Moreover, companies, including Silver Wheaton (NYSE:SLW) and Pan American Silver (NASDAQ:PAAS), also slightly recovered […]
By Chuck Carnevale: Introduction Once an investor enters retirement it is not uncommon that their investment objective turns from total return to a safe income stream. And if they planned and prepared properly, the income they receive from their portfolios can support their families during their remaining so-called Golden years. Icing on the cake would be the potential for their income stream to grow. Although income growth […]
By Adam Hamilton: Gold has slid during this past week on mounting fears of interest-rate hikes. Between the latest FOMC meeting’s minutes and the Fed’s annual Jackson Hole Economic Policy Symposium, American futures speculators’ rising-rate phobias have been whipped into a fever pitch. They worry gold will be crushed when the Fed eventually starts normalizing rates. But history shatters this fallacy that rising rates are gold’s nemesis. […]
Switzerland’s Bank Sarasin mis-sold $200 million of investment products to Kuwait’s prominent Khorafi family, a court at Dubai’s financial centre found on Thursday in a ruling that could set a precedent for similar disputes in the region. The Dubai International Financial Centre’s (DIFC) Court of First Instance ordered Sarasin to pay compensation in what may be one of the biggest awards in the 10-year history of the […]
