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 […]
JOHANNESBURG Finance Minister Pravin Gordhan is set to return to South Africa early on Tuesday after being ordered home from London by President Jacob Zuma, hours before a court hearing over the closure of accounts belonging to friends of the president. Zuma’s order on Monday that Gordhan return “immediately” from a roadshow for investors in Britain and the United States has revived talk of a cabinet reshuffle […]
Last week we noted that Mexico’s Economy Minister, Ildefonso Guajardo, was somewhat less than completely supportive of Trump’s impenetrable, yet “aesthetically pleasing”, 30-foot border wall and issued a stark warning to Mexican companies that it would not be in their best “interests” to participate in the project even though there would be no explicit legal restrictions or sanctions to stop them if they tried. Per Reuters: “We’re […]
Vocus Communications has announced selling its 16 percent stake in Macquarie Telecom, offloading 3,358,511 MAQ shares at a price of AU$12.20 per share for a total of around AU$41 million. Vocus sold 100 percent of its interest in Macquarie Telecom to both institutional and retail shareholders via a block trade, it announced to the Australian Securities Exchange on Tuesday morning. According to Macquarie Telecom, the sale of […]
By Ayesha Rascoe | WASHINGTON WASHINGTON Following the failure of a healthcare bill backed by President Donald Trump, his administration plans to take a lead role in crafting major legislation to cut taxes with an eye toward meeting an August target date, the White House said on Monday. Trump’s pledge to cut taxes, including a lowering of the rates paid by corporations, was a pillar of his […]
T-Mobile is now offering complimentary AppleCare+ perks for customers who sign up for its Premium Device Protection plan or those who upgrade to JUMP! For those unfamiliar with the service, AppleCare+ is Apple’s extended warranty service for iPhone and iPad, offering a number of benefits to in case something goes wrong with the device. T-Mobile’s new offer notes that it’s including complimentary AppleCare service with JUMP! or its […]
Viacom, the owner of Nickelodeon and MTV, has turned to former Fox film chief Jim Gianopulos to revive its ailing Paramount Pictures division, hoping that he can restore the studio behind The Godfather, Saturday Night Fever and Top Gun to its former glory. Mr Gianopulos released Avatar, the biggest box office hit ever produced by Fox, as well as Deadpool, the X-Men series and The Grand Budapest […]
European governments and related organisations have ramped up their sales of new debt this year, in the latest sign of bond markets bracing for rises in interest rates and an increase in political risks. Overall borrowing from eurozone sovereigns, local authorities, agencies and supranationals such as the European Investment Bank is currently at €210bn — the highest year-to-date amount since 2012, Dealogic data show, and the second-highest […]
Want to beat Warren Buffett’s investment returns? Don’t want to spend a lot of time working at it? Bloomberg’s macro strategist Cameron Crise has just the investment process for you… Last week I wrote about a simple model that is surprisingly effective at profiting from the rebalancing tendencies of passive investors. This in turn brought to mind another well-known instance of behavioral herding that has led to […]
The location and energy potential, in terawatt hours, of eastern and southern African renewable resources (wind, solar photovoltaic and concentrating solar power). Credit: UC Berkeley As Africa gears up for a tripling of electricity demand by 2030, a new Berkeley study maps out a viable strategy for developing wind and solar power while simultaneously reducing the continent’s reliance on fossil fuels and lowering power plant construction costs. […]
By Mfuneko Toyana and Sujata Rao | JOHANNESBURG/LONDON JOHANNESBURG/LONDON South African President Jacob Zuma asked Finance Minister Pravin Gordhan on Monday to return home “immediately” from an investor roadshow abroad, reviving talk of a cabinet reshuffle and unnerving investors who see Gordhan as an emblem of stability. The rand fell more than 3 percent against the dollar, its biggest one day fall since Nov. 10, South African […]
By Yashaswini Swamynathan U.S. stocks were well off session lows on Monday as investors sought bargains after a rough start on Wall Street following the defeat of President Donald Trump’s first major legislative action. Republicans were forced to pull a healthcare bill on Friday after failing to gather the votes needed in Congress to repeal and replace the Affordable Care Act also called Obamacare. The bill’s failure […]
Barclays Bank on Monday launched the first exchange traded fund in east Africa when it listed the Barclays NewGold ETF on the Nairobi stock exchange. The product is a cross-listing of the $1.4bn NewGold ETF that sits on the Johannesburg Stock Exchange in 2004 and is also publicly traded on five other African markets. Its initial size in Kenya will be Ks500m ($4.8m) with capacity for expanding […]
In July 2011 an unusual fascination had gripped some members of New York’s financial community. Walk into a Manhattan office expecting to discuss the US stock market with an investor who exclusively backed equity hedge funds, and they instead had Italian government debt on the brain. Selling short bonds of the eurozone’s third-largest economy had become so popular that non-debt specialists had started to notice, and rising […]
27 March 2017 UAE – His Excellency (H.E.) Dr. Mohamed Salim Al Olama, Undersecretary of the Ministry of Health & Prevention (MOHAP) recently met with H.E. Dr. Abdelqader Saleh, Ambassador of the Republic of Ethiopia to the United Arab Emirates (UAE), at the Ministry of Health and Prevention office in Abu Dhabi to discuss future cooperation across joint initiatives in the field of health. Also present during […]
China has eclipsed Singapore as the biggest source of investment in Malaysian real estate, as soaring domestic property prices push mainland investors to hunt for bargains abroad. Chinese groups have invested more than $2.1bn in Malaysian real estate over the past three years, compared with $985m invested by Singaporean companies between 2014 and 2016, according to figures from Real Capital Analytics based on completed transactions of $10m […]
March 26, 2017 by: FT Confidential Research Government efforts to cool the Chinese housing market are not working. Despite an intensifying clampdown, more households expect prices to continue rising in the coming months, particularly in the richest cities that are the focus of the government’s campaign. Consumer sentiment towards real estate purchases has also spiked, probably in response to widespread coverage of the policy tightening. The clampdown […]
Ras Al Khaimah – UAE, 26 March 2017 Under the patronage of His Highness Sheikh Saud bin Saqr Al Qasimi, Member of the Supreme Council and Ruler of Ras Al Khaimah, and in the presence of His Excellency Sheikh Mohammed bin Humaid Al Qasimi, Managing Director of RAK Free Trade Zone, Managing Director of the Ras Al Khaimah Investment Authority, His Excellency Mohammed Ahmed Al Kait, Advisor […]
Last week, the Office for National Statistics released the inflation results for the British economy. Even though most analysts weren’t expecting any huge differences, the numbers (updated until February) paint a completely different picture. In February, the inflation rate increased rather sharply. On a month-on-month basis, the CPI increased by 0.7% (whereas January was a month with deflation). The current YoY inflation rate based on the CPI […]
Samsung will seek this week to draw a line under the Galaxy Note 7 smartphone safety scandal with the launch of the South Korean technology company’s latest handset, the Galaxy S8. Released last August, the Note 7 was hastily withdrawn after a series of incidents in which the phones caught fire. Samsung expects the debacle, which dealt a severe blow to its reputation, to have cost the […]
After a week dominated by questions over whether Donald Trump will be able to push his economic agenda through Congress, here are the questions FT markets reporters are asking in the final trading week of March. Will investors keep faith in Trump’s ability to drive tax cuts? That is the question facing equity markets after the White House failed to muster the support needed in the House […]
By Lucia Mutikani | WASHINGTON WASHINGTON New orders for U.S.-made capital goods unexpectedly fell in February, but a surge in shipments amid demand for machinery and electrical equipment supported expectations for an acceleration in business investment in the first quarter. Manufacturing is recovering from a prolonged slump, driven by the energy sector, bucking a slowdown in the broader economy. The Federal Reserve last week described business investment […]
China has prevented an academic critical of its growing influence in Australia from travelling home to Sydney, casting a shadow over Chinese Premier Li Keqiang’s state visit to the country. Feng Chongyi, a Chinese citizen who teaches at University of Technology Sydney, was halted from boarding at least two flights from China to Australia this weekend. Mr Feng is a permanent resident of Australia, which means he […]
By James Pomfret and Venus Wu | HONG KONG HONG KONG A Beijing-backed civil servant, Carrie Lam, was chosen to be Hong Kong’s next leader on Sunday amid accusations that Beijing is meddling and denying the financial hub a more populist leader perhaps better able to defuse political tension. The majority of the China-ruled city’s 7.3 million people have no say in deciding their leader, who is […]
