Oman was cut to junk by S&P Global Ratings, which said a drop in crude could hamper exports from the largest Arab oil producer outside OPEC and jeopardize its finances. S&P lowered the Gulf state’s sovereign debt long-term rating to BB+, one level below investment grade, from BBB- and changed the outlook to negative, the New York-based firm said in a statement Friday. “The negative outlook reflects […]
Investors wiped $4.6bn from the market value of the US department store sector in the space of two days this week, as concern mounted about sliding sales and the effects of online competition. The consequences are spilling into the real estate and derivatives markets, and the latest bad news has intensified the focus on the sector ahead of more earnings reports from retail heavyweights next week. Five […]
Readers are familiar with the various microwave and laser arrays located at the real New York Stock Exchange in Mahwah, New Jersey, both of which we have written about in the past. Microwave tower located next to the NYSE in Mahwah, NJ. This article, however, is not about the familiar antennas off Route 17 in New Jersey. Instead, demonstrating to what lengths the high frequency traders will […]
· Masaken to open UAE branch to explore new investment and strategic partnership opportunities · Board of Directors decides to study available investment opportunities before increasing firm’s capital 13 May 2017 Abu Dhabi, UAE – The Board of Directors of Masaken for Land and Industrial Development Projects (Masaken Capital), a company listed in Amman stock exchange, held its third meeting in 2017 on Thursday, 11 May, […]
The Middle East’s first wellness destination resort will be developed in Qatar by Msheireb Properties, a subsidiary of Qatar Foundation for Education, Science and Community Development. The developer said Zulal Wellness Resort will bring “health wisdom from across the world together with traditional Arabic and Islamic wellness principles”. “The ‘luxeclusive’ concept delivers global luxury standards while preserving traditional family values to ensure every visitor’s needs are addressed,” […]
Romero Rodrigues Contributor Romero Rodrigues is a managing partner at Redpoint eVentures, the Brazilian-focused arm of the Silicon Valley venture firm Redpoint. More posts by this contributor: Fintech is booming around the world. Global investments in fintech companies have continued to rise during the last two years. After international financing for fintech startups hit $19 billion in new funding rounds at the end of 2015, the volume […]
Europe’s investment community has barely had time to breathe a sigh of relief following Emmanuel Macron’s victory in the French presidential elections before starting to fret about other latent threats to the eurozone. Some investors have hailed the election — in which Mr Macron, a pro-EU liberal defeated Marine Le Pen, the Eurosceptic rightwing candidate — as a sign that Europe’s economic recovery remains on track. This […]
By Ben Blanchard | BEIJING BEIJING China welcomes all countries to participate in this weekend’s forum on China’s new Silk Road plan, the Foreign Ministry said on Saturday, after the United States warned China that North Korea’s attendance could affect other countries’ participation. Two sources with knowledge of the situation said the U.S. embassy in Beijing had submitted a diplomatic note to China’s foreign ministry, saying that […]
13 May 2017 Dubai – The Ministry of Finance (MoF) recently held the second meeting of the Government Financial Policy Coordination Council for 2017 in its headquarter in the Dubai. The meeting was headed by HE Younis Haji Al Khoori, Undersecretary of MoF and Chairman of the Government Financial Policy Coordination Council, in the presence of HE Saeed Rashid Al Yateem, Assistant undersecretary of Resources and Budget […]
Technology and media confluence sets #AJTechSummit top trending on social media for two days May 11, 2017 – Doha, Qatar Held under the patronage of His Excellency Sheikh Hamad bin Thamer Al-Thani, Chairman of Al Jazeera Media Network, AJMN’s “Future of Media – Leaders’ Summit” concluded today at the Ritz Carlton Hotel in Doha. The Summit, the first of its kind in the region, prominent figures and […]
By Chris at www.CapitalistExploits.at What in God’s name is happening? It’s not a high. It’s a record high. Sweet mother of Mary… As we can see from the above chart courtesy of the FT, emerging markets sold a record amount of government debt in the first quarter of this year. More from the FT here: “Data from Dealogic, a research firm, show that sovereign bond sales from emerging markets rose […]
NEW YORK/BOSTON Some of the biggest U.S. mutual and hedge funds, including Daniel Loeb’s Third Point and Daniel Och’s Och-Ziff Capital Management (OZM.N), owned stakes in Snap Inc (SNAP.N), parent of the wildly popular Snapchat messaging app, at the end of March, regulatory filings on Friday showed. The filings provide the first definitive snapshot on who bought Snap shares when it went public in early March, in […]
Dana Gas profit nearly doubled in the first quarter as the UAE-based natural gas producer boosted output. Net income rose to 40 million dirhams ($11 million) from 22 million dirhams a year earlier, the company said Thursday in a statement to the Abu Dhabi stock exchange. Sales climbed 44 percent to 432 million dirhams. Dana Gas, which pumps most of its gas at fields in Egypt and […]
S&P Global Ratings on Friday lowered its long-term rating on Oman to BB+ from BBB- with a “negative” outlook, indicating the agency could further reduce its rating. The move to cut Oman’s credit rating below investment-grade status “reflects our view that the Omani government’s heightened external financing needs have resulted in the economy’s large net external asset position, (external assets exceeding external liabilities) declining to a level […]
Corning employees in Harrodsburg, Kentucky. Image via Apple. Apple announced Friday that glass supplier Corning will receive $200 million as part of the Cupertino tech giant’s $1 billion Advanced Manufacturing Fund. The fund was announced earlier this month as a way to support “a new era of technology-driven manufacturing in the US,” and Corning is the first beneficiary. Apple said the investment will go toward Corning’s research […]
May 12, 2017 by: Mark Robinson and Emma Powell, Investors Chronicle Shares in Anglo American have risen 84 per cent base-to-apex within the past 12 months, a reflection of improved commodity pricing combined with cumulative rationalisation measures. Earlier this year, it was announced that the miner’s chairman, Sir John Parker, had decided to call it a day after an eight-year tenure in which he oversaw the sale […]
Saudi Arabia is preparing to cement ties with President Donald Trump by committing to unprecedented investments in the US. The kingdom’s sovereign wealth fund is set to announce plans to deploy as much as $40 billion into US infrastructure, according to people familiar with the matter. The investment may be unveiled as early as next week to coincide with Trump’s visit to the kingdom, said the people, […]
PARIS Emmanuel Macron’s visit to Berlin Monday, a day after his inauguration as French president, aims at stressing the importance of the relationship with Germany to relaunch the European project, an aide to Macron said, confirming the visit. “We want to work together on a few priorities: security, economy, investment and social protection,” the aide told Reuters on Friday. Like outgoing Socialist President Francois Hollande in 2012, […]
The Equatorial Guinea-Saudi Arabia Economic Forum follows intensive efforts by the Government of Equatorial Guinea to expand relations with countries in the Arabian Gulf JEDDAH, Kingdom of Saudi Arabia, May 12, 2017 Two global energy powers met today (May 11, 2017) for the first Equatorial Guinea-Saudi Arabia Economic Forum, organized by the Ministry of Mines and Hydrocarbons of Equatorial Guinea. The historic event was hosted by the Jeddah Chamber […]
The yield on Chinese five-year government bonds hit its highest since 2014 on Friday, as tight liquidity and a regulatory crackdown on leveraged investment caused a rarely seen inversion of the yield curve. Bond yields, which move inversely to price, have been on the rise since last October as the People’s Bank of China moves to discourage the use of borrowed money for bond investment. The bond […]
United Kingdom telecommunications provider BT has announced that broadband arm Openreach is now consulting with industry and consumers on potentially rolling out a full-fibre broadband network. “We aspire to be the UK’s digital champion. To achieve this, we’re ready to invest in the UK’s digital infrastructure, in continued improvements in our customer service, and in new technologies to further enhance customer experience,” BT CEO Gavin Patterson said. […]
The completion date for the world’s tallest tower has been pushed back to 2019, a Saudi Arabian billionaire said Thursday, almost six years after launching the record-breaking project. Jeddah Tower is to rise more than a kilometre (almost 3,300 feet), placing it above Dubai’s Burj Khalifa. “The project was delayed… but it’ll open (in) 2019,” Prince Alwaleed bin Talal told AFP during a visit to the site […]
Profits take a hit at Entertainment One. FT Opening Quote is your early Square Mile briefing. You can sign up for the full newsletter here. Efforts to strengthen Entertainment One’s film division will hit its full-year profits by almost £50m, the company announced today, after it renegotiated one of its main distribution agreements, writes FastFT. Entertainment One is best known for producing television programmes such as Peppa […]
Sharjah Investment and Development Authority (Shurooq) has announced the launch of a new brand of hotels – Sharjah Collection. In its first phase of development, Sharjah Collection has unveiled its first three properties, including Kingfisher Lodge, a collection of tented lodge-style accommodations surrounded by mangroves and diverse ecological zones. Al Badayer Lodge will also be included and will be developed against the backdrop of a prominent natural […]
