By Caroline Valetkevitch | NEW YORK NEW YORK A U.S. stock rally fueled by optimism President Donald Trump will boost the economy may be near its peak, according to a Reuters poll of strategists who forecast U.S. shares will gain less than 3 percent between now and year-end. The run up since the Nov. 8 U.S. election has left the S&P 500 .SPX at levels many consider […]
A wonderful skyscraper is getting ready and will hang like a fruit above the Earth. Analemma Tower, proposed to be the world’s tallest building, will be a marvel in motion, as it comes pointing to Earth. Its residents will be going over a world tour above the world’s top cities at an altitude of more than 30, 000 miles. What makes the skyscraper so special is that it […]
Good morning. Here’s our morning roundup of all the media news you need to know. Want to get this briefing in your inbox every morning? Subscribe here. Donald Trump is temporary ratings gold, which is either evidence of renewed civic engagement or merely the decline of Western civilization. Variety reports that Fox News “finished far and above its competition in the ratings for the first quarter of […]
So much flip-flopping from Dennis Gartman in just the past week, it is enough to make one’s head spin. After missing Friday’s move lower, on Monday morning Gartman said he was actively looking to “re-establish net short positions” when S&P futures were sharply lower to which we said “at the rate the S&P is covering its opening losses, he should be able “find a point” where the […]
Bloomberg suffered its second-ever drop in the number of ubiquitous terminals dotting global trading desks as it fell victim to cost cutting by the finance industry. The number of Bloomberg’s distinctive black terminals, used daily by bankers, traders and money managers, fell by 3,145 last year to just under 324,500, down nearly 1 per cent from 2015, according to a report on Tuesday from Burton-Taylor International, one […]
New photovoltaic plant will add 61.3 MWp of installed energy capacity to Risha, Jordan Lowest tariff for solar energy ever presented for a Jordan-based photovoltaic project The plant marks ACWA Power’s strategy of continuous investment Jordan, and its second Solar Photovoltaic Plant The new PV plant will bring the installed capacity in Jordan as controlled by ACWA Power to 1,665 MW further consolidating ACWA […]
A mega-merger of the two biggest banks in the UAE should leave the combined company with a larger representation on the benchmark emerging-market index, triggering hundreds of millions of dollars of inflows to the stock, according to calculations by EFG-Hermes strategists. Thursday marks the last day of trading in First Gulf Bank before its combination with National Bank of Abu Dhabi in a deal that creates the […]
If meat was handled in the same fashion as broadband in Australia, barbeques would be a lot less popular. Imagine a situation where there is a single government-owned cattle farmer, the weirdly spelled National BoviNe (NBN), and you know of its existence because there are always ads on TV and buses telling you to eat more meat, but consumers are told to continue purchasing meat from butchers, […]
Dubai-based investment bank Arqaam Capital is launching a globally focused hedge fund, it said on Monday, becoming one of only a handful of local firms to offer such a product. Although Dubai has been growing rapidly as a banking centre, the local fund management industry has largely confined itself to traditional equity and fixed income funds which focus on the Middle East region. Areski Iberrakene, who will […]
Chinese social media company Tencent has purchased a 5 percent stake in Tesla for $1.78 billion, providing a boost to the company as it prepares for the launch of the Model 3 mass-market electric vehicle. The shares of Tesla increased by 2.7 percent to $277.45 upon the announcement of Tencent’s investment, with the company now close to overthrowing Ford as the second most valuable automobile company in the […]
HE Khalifa Al Mansouri, Undersecretary of the Abu Dhabi Department of Economic Development, delivers welcome note on day one of the Global Manufacturing and Industrialisation Summit Global Manufacturing and Industrialisation Summit held at the Paris-Sorbonne in Abu Dhabi from March 27-30, 2017 Abu Dhabi, UAE, March 28, 2017 HE Khalifa bin Salem Al Mansouri, Undersecretary of the Abu Dhabi Department of Economic Development (ADDED), said that […]
Emirates Global Aluminium (EGA) mandated Bank of America Merrill Lynch, Goldman Sachs and JP Morgan to advise on its initial public offering, sources familiar with the situation have said. The three banks, which were mandated as joint global coordinators, declined to comment. One source said the company had earnings before interest, tax, depreciation and amortisation (EBITDA) of at least $1.5 billion and that its closest publicly traded […]
Overseas companies that invest in the UK issued a flurry of warnings on Tuesday about the threat Brexit poses to their businesses, signalling their growing concern as the UK prepares to start the formal process of leaving the EU. Forty European business lobbies, representing 20m companies in 34 countries, issued a statement calling for a post-Brexit settlement which would preserve the integrity of the single market, deliver […]
New photovoltaic plant will add 61.3 MWp of installed energy capacity to Risha, Jordan Lowest tariff for solar energy ever presented for a Jordan-based photovoltaic project The plant marks ACWA Power’s strategy of continuous investment Jordan, and its second Solar Photovoltaic Plant The new PV plant will bring the installed capacity in Jordan as controlled by ACWA Power to 1,665 MW further consolidating ACWA […]
Tencent Holdings has forked out US$1.78 billion for a 5 percent stake in Tesla, according to a document filed with the US Securities and Exchange Commission (SEC). The announcement came days after the US electric car maker said it was looking to raise funds to scale its business and bring to market its US$35,000-priced Model 3. The company said it expected to secure more than US$1 billion […]
The Gulf emirate of Qatar is tiny, but it’s made a name for itself by placing big bets. Thanks to vast reserves of natural gas, its 2.6 million residents enjoy the world’s highest per-capita income: $129,700 a year. Qatar has acquired more than $335 billion worth of assets around the globe, buying up trophies such as London’s Shard, the tallest building in Europe. The emirate has also […]
Era defined by seemingly random and unrelated events combining to create new structures Delegates told to ignore traditional bureaucracy and ‘listen to the information flow’ Global Manufacturing and Industrialisation Summit held at the Paris-Sorbonne in Abu Dhabi from March 27-30, 2017 Abu Dhabi, UAE, March 28, 2017 Beth Comstock, Vice Chair, GE, told delegates to the inaugural Global Manufacturing and Industrialisation Summit (GMIS) that we […]
Cuban president Raúl Castro is preparing to step down next year, Venezuela has cut millions of dollars in aid and Donald Trump’s election has cast a shadow over the nascent US-Cuba detente. Unnerved by the changes, Havana’s domestic reform drive has ground to a halt as the Communist party battens down the hatches. Marino Murillo, the senior official leading Cuba’s reforms, has not been heard in public […]
Jordan’s state media say public and private sector officials from Saudi Arabia and Jordan have signed 15 economic agreements, including establishing a joint fund that will launch an estimated $3 billion worth of investments in Jordan. The Petra news agency says the agreements were signed after a meeting late Monday between Saudi King Salman and Jordan’s King Abdullah II. Planned projects include reconstruction and rehabilitation of a […]
“The new tax rate will bring Saudi Aramco in line with international benchmarks,” Saudi Aramco’s chief executive officer, Amin H. Nasser, said in a statement. Continue reading the main story The tax cut was announced a couple of months after intensive discussions with international bankers in Riyadh about how the offering should be structured. Bankers and independent specialists said the cut would help increase the cash flow […]
The Australian Federal Court has handed down its decision in Telstra’s proceedings against the Australian Competition and Consumer Commission (ACCC)’s final access determination (FAD) on wholesale copper pricing, with the judgment reaffirming the regulator’s decision. The ACCC’s FAD, published in October last year, cut the prices that the telecommunications giant can charge wholesale customers for use of its legacy copper network during the transition to the NBN […]
HONG KONG Acquisitive Chinese conglomerate HNA Group is in talks to buy a controlling stake in the owner of the publisher of Forbes magazine, two sources with knowledge of the matter told Reuters. Hong Kong-based investor group Integrated Whale Media Investments (IWM), which holds 95 percent of Forbes Media, is also in talks with another Chinese media firm and is scouting for more potential buyers for most […]
The bagpiper striding across the bottle label wears flowing green tartan, a luxuriant black moustache — and a red turban. Bagpiper whisky, distilled by Diageo through its United Spirits subsidiary in India, is one of India’s most popular brands, available even in a tetra pak. But at Rs300 ($4.50) for a 750ml bottle, it is not a brand that will power a rapid return on Diageo’s £1.9bn […]
Dubai, UAE, 27th March 2017 Emirates Integrated Telecommunications Company PJSC (“du”) today held its General Meeting at Al Salam Tower, Dubai Media City, where the proposed final dividend of AED 0.21 per share for the 2nd half of the fiscal year ending 31 December 2016, was approved, bringing the annual dividend payment for 2016 to AED 0.34 per share. This includes an AED 0.13 per share interim […]
