A cyclone more than 9,000 miles away from Omaha, Nebraska, where more than 30,000 Berkshire Hathaway shareholders are gathered for an annual meeting they call the Woodstock of Capitalism, has put a slight damper on the festivities. Profits at Warren Buffett’s company fell 27 per cent in the first quarter to $4.06bn, or $2,469 per share, as the company’s insurance business paid out millions for claims related […]
North America, the UK, Germany and Australia remain the top property investment destination for UAE residents, according to a YouGov survey conducted by IP Global, the property investment firm. The survey results showed that when it comes to investing in property abroad, the US and Canada are the most popular markets among UAE citizens. Chicago and Los Angeles were highlighted as popular investment destinations in the US. […]
After a busy week in the US, attention shifts to Europe with the second round of the French elections on Sunday. Here’s what to watch in the coming days. France Four separate polls give fervent EU supporter and political novice Emmanuel Macron a 24-point lead over Marine Le Pen, who has proposed pulling France out of the EU. Markets are also expecting a win for Mr Macron. […]
By Jonathan Stempel | OMAHA, Neb. OMAHA, Neb. Berkshire Hathaway Inc (BRKa.N), the conglomerate run by billionaire investor Warren Buffett, on Friday reported a 27 percent decline in first-quarter profit, and said a loss from insurance underwriting contributed to operating results that fell short of forecasts. The results were released one day before Berkshire’s annual meeting in Omaha, Nebraska, where Buffett, 86, and Berkshire Vice Chairman Charlie […]
Trump may bring jobs back to the US, but robots will get them This could be an important victory for a new president, a major capitulation by an Indian IT company or the emergence of a new model for Indian IT in the face of a rapidly shifting business landscape — or, as the case may be, all of the above. A few days ago, Indian IT […]
Barclays was under pressure on Friday after Goldman Sachs said the bank needed to prioritise rebuilding capital over shareholder returns. Regulatory hurdles have moved against cross-border banks such as Barclays, which will be hit disproportionately by regional ringfencing laws, said Goldman. Capital ringfences add to uncertainty around Barclays’ litigation costs, its pension deficit and the likely proceeds from the sale of its African bank, said the broker. […]
By Dominique Vidalon | PARIS PARIS The shareholders of AccorHotels (ACCP.PA) on Friday granted former French President Nicolas Sarkozy a seat on the board of Europe’s largest hotel group, and rejected a bid to block long-term shareholders from getting more double voting rights. Chairman and CEO Sebastien Bazin reiterated at the annual shareholders meeting that double voting rights were a good way to foster loyalty and stability […]
Dubai-based DP World and the National Investment and Infrastructure Fund (NIIF) have signed an agreement to develop the logistics sector in India. The agreement comes as a result of the visit to India in February 2016 of Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, and Sultan Ahmed bin Sulayem, DP World Group chairman and CEO, a statement said. DP World announced at the […]
Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, bids farewell to Abdel Fattah El Sisi, President of Egypt, at the Presidential Airport on Thursday. Ryan Carter / Crown Prince Court – Abu Dhabi Sheikh Abdullah bin Zayed, Minister of Foreign Affairs and International Cooperation, on Thursday receives Mahamoud Ali Youssouf, Djibouti Minister of Foreign Affairs and International […]
Saudi Arabia is seeking foreign investment in its healthcare industry as it plans to turn hundreds of government-owned hospitals and thousands of primary care centres into better-run corporations, Health Minister Tawfig Al-Rabiah said. Nearly 80 percent of health care in Saudi Arabia is provided by the government, Al-Rabiah said in an interview in Boston. But the kingdom “is trying to move the private sector to invest more,” […]
Bahrain-based Ibdar Bank has announced the appointment of Ayman Sejiny as its new CEO. The Islamic investment bank said in a statement Sejiny has previously held roles at Barclays, Citi Bank and ABN Amro. Previous to his appointment with Ibdar, Sejiny was the Group CEO of Bahrain-based Bank Alkhair, which has a presence in Saudi Arabia, UAE, Turkey and Malaysia. Ibdar chairman Tareq Sadeq said: “Ibdar is […]
DP World and National Investment and Infrastructure Fund (NIIF) to back future infrastructure projects DP World and National Investment and Infrastructure Fund (NIIF) to back future infrastructure projects New Delhi, India, 4 May, 2017 Global trade enabler DP World and the National Investment and Infrastructure Fund (NIIF) have signed a Memorandum of Understanding (MoU) to develop the logistics sector in India. The agreement comes as a result […]
Royal Dutch Shell on Thursday rounded off the strongest set of quarterly results from “big oil” for over two years, even as a fresh slide in crude prices raised doubts over the sustainability of recovery from one of the deepest downturns in industry history. Earnings from the Anglo-Dutch group in the first three months of this year more than doubled from the same period of 2016. This […]
Authored by 720Global’s Michael Lebowitz via RealInvestmentAdvice.com, “History has not dealt kindly with the aftermath of protracted periods of low risk premiums” – Alan Greenspan The ability to see beyond the observable and the probable is the most important and under-appreciated characteristic of successful investors. For example, visualize a single domino standing upright. With this limited perspective, one can establish what the domino is doing in the […]
FAI is a leading provider of mission-critical aviation services, based in Germany With 23 aircraft, FAI serves corporations, government agencies and NGOs including the UN and International Committee of the Red Cross Manama, Kingdom of Bahrain, 4th May 2017 Bahrain Mumtalakat Holding Company (Mumtalakat), the sovereign wealth fund of the Kingdom of Bahrain, announced today its investment in a significant minority stake in Axtmann Aviation Holding […]
11:00 am Suppose we could be brave, Bryce, and go with a pic of Jeffery Lacker as our portrait for today 11:01 am Well, he stepped down from the Richmond Fed after fessing up to helping a colleague at a sister publication — Medley — on a story 11:02 am 11:03 am I could give you a rival’s analysis of the story 11:03 am It’s not the […]
HSBC has beaten analysts’ expectations for its first-quarter results as strong trading conditions, rising interest rates and a weaker dollar lifted earnings, bringing welcome relief from its heavy miss at the end of last year. Pre-tax profits, adjusted for one-offs and currency moves, reached $5.9bn, surpassing consensus forecasts of $5.3bn. Shares opened up 3.4 per cent in London trading, hitting 668.30p. Europe’s biggest bank by assets, which […]
By Michel Rose and Ingrid Melander | PARIS PARIS Far-right candidate Marine Le Pen and centrist Emmanuel Macron clashed over their vision of France’s future, the euro and ways of fighting terrorism in an ill-tempered televised debate on Wednesday before Sunday’s run-off vote for the presidency. The two went into the debate with opinion polls showing Macron, 39, with a strong lead of 20 percentage points over […]
Digitization identified as key for region to retain leadership in global logistics landscape Dubai, United Arab Emirates, May 4 2017 Supply chain optimization took center stage at the ninth GPCA Supply Chain Conference, which took place between 2-4 May 2017 at the Rosewood Hotel in Abu Dhabi. During the event, speakers highlighted logistical efficiency as a top industry priority in the GCC as traditional supply chains across […]
Earlier today, MarketWatch highlighted the rather blunt investing advice that the ‘highly reputable’ investing newsletter, The Prudent Speculator, and its editor, John Buckingham, recently offered up to millennial investors: “If you are 50 or younger, or have 10 years before taking money out, and do not have 100% in equities, you are crazy.” And while we can certainly appreciate his attempt to achieve crystal clarity with his […]
Egyptian President Abdel Fattah al-Sisi arrived in the United Arab Emirates on Wednesday for talks with top officials, state media said. Sisi’s visit comes 24 hours after the UAE brokered a meeting between Fayez al-Sarraj, head of Libya’s UN-backed Government of National Accord, and military strongman Field Marshal Khalifa Haftar who refuses to recognise the GNA. State-run news agency WAM said Sisi was accompanied by Egypt’s foreign […]
By Brendan Pierson | NEW YORK NEW YORK A former Guinea government minister was convicted on Wednesday of laundering $8.5 million in bribes that U.S. prosecutors say he took in exchange for helping a Chinese conglomerate secure mining rights. Jurors in federal court in Manhattan convicted Mahmoud Thiam, 50, of one count of money laundering and one count of engaging in transactions in property with a criminal […]
By Lindsay Dunsmuir and Jason Lange | WASHINGTON WASHINGTON The U.S. Federal Reserve kept interest rates unchanged on Wednesday and downplayed weak first-quarter economic growth while emphasizing the strength of the labor market, in a sign it was still on track for two more rate rises this year. In a bullish statement following the end of a two-day policy meeting, the central bank also said consumer spending […]
Etihad Airways said on Tuesday it was disappointed that despite its significant investments in Alitalia, the Italian airline had entered extraordinary administration. Shareholders in Alitalia voted unanimously to place the company into “extraordinary administration” as efforts continue to find a buyer and stave off liquidation for the troubled airline. The move follows last week’s rejection by staff of a restructuring and refinancing plan based on hefty job […]
