|By Arabian Post Staff| French alternative investment firm Ardian is in talks to take a stake in Mubadala Development Co.’s $2 billion private equity portfolio, Bloomberg reported quoting sources. Bottom of Form Under the terms being discussed, according to Bloomberg, the Abu Dhabi sovereign fund would place the assets into a new vehicle, and Ardian would buy a 50 percent stake for about $1 billion. The French […]
SYDNEY The U.S. dollar crept nearer to 14-year peaks on Wednesday as an abundance of upbeat global economic data boosted Wall Street and signs of quickening inflation dented fixed-income debt. The strength of the U.S. currency pressured commodity prices and helped drag oil off an 18-month top, but gave Japan’s exporter-heavy stock market a fillip. The Nikkei climbed 2.1 percent, recovering from two sessions of losses as […]
After seven years of stock markets climbing ever upwards, investors found a new reason to buy in November: the shock election of Donald Trump. One oft-repeated anecdote is how the billionaire investor Carl Icahn left Mr Trump’s victory party to buy US stocks. A few days later Stanley Druckenmiller, who earlier in the year told a conference for fellow hedge fund managers to “get out of the […]
Manama, 3rd January 2017 Amlak, the real estate investment arm and a wholly-owned subsidiary of the Social Insurance Organization (SIO), held a press conference to announce the latest projects undertaken by the company. “Amlak has taken steady steps towards prosperity by developing its growing portfolio. We are excited to announce our upcoming projects which will include a residential project and a number of multi-purpose projects, in addition […]
By Bernie Woodall and David Shepardson | FLAT ROCK, Mich./WASHINGTON FLAT ROCK, Mich./WASHINGTON Ford Motor Co (F.N) said Tuesday it will cancel a planned $1.6 billion factory in Mexico and will invest $700 million at a Michigan factory, after President-elect Donald Trump had harshly criticized the Mexico investment plan. The second largest U.S. automaker said it would build new electric, hybrid and autonomous vehicles at the Flat […]
Banks and commodity companies set the pace as the FTSE 100 extended its run into record territory on Tuesday, taking the gains for the blue-chip index to 13 per cent since the UK voted for Brexit. Sentiment towards the FTSE 100 has brightened on optimism over bank earnings as bond yields rise, and on the support a stronger oil price is giving the commodities sector. “The FTSE […]
|By Matein Khalid|“Few individuals alter the course of history. Fewer still change the map of the world. Hardly anyone creates a nation state. Mohammed Ali Jinnah did all three”. Dr. Stanley Wolpert’s words still give me goose pimples two decades after I first read his book. Mr. Jinnah founded Pakistan and was also my ancestral kinsman. I too was born in Karachi, the city by the sea, […]
Tapping into the potential of Islamic Economy for the East Africa Market: Kenya will host the 2nd edition of the East Africa Islamic Economy Summit (EAIES 2017) East Africa’s Islamic Economy Summit – Nairobi 2017 Tapping into the potential of Islamic Economy for the East Africa Market: Kenya will host the 2nd edition of the East Africa Islamic Economy Summit (EAIES 2017) LONDON, United Kingdom, January […]
By David Morgan | WASHINGTON WASHINGTON Big Oil could be in a unique position to protect its interests against a Republican proposal to tax imports, given that President-elect Donald Trump’s cabinet is studded with oil champions sensitive to the risk of higher gasoline prices. Trump’s emerging leadership includes Exxon Mobil Corp Chief Executive Officer Rex Tillerson as secretary of state, former Texas Governor Rick Perry as energy […]
A plan to significantly boost the 4G coverage in Brazil will be the bedrock of the new national broadband plan, to be launched by the government at the end of the first quarter of 2017. According to a statement released by the Ministry of Science, Technology, Innovation and Communications (MCTIC), boosting 4G is essential since the sheer size of the country and areas of low demographic density […]
Expats living in India are the third-highest paid in the world, according to a survey from HSBC. The average salary of foreigners living in India was $145,057, the poll of almost 27,000 expats in 100 countries showed. Highest paid were foreign workers in Switzerland who got an average salary of $188,275, followed by Hong Kong at $169,756. Like Switzerland and Hong Kong, India has a financial hub […]
03 January 2017 Dubai, UAE – HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), received a high-level delegation from Kuwait National Petroleum Company (KNPC) at DEWA’s main office. The delegation was headed by Ahmad Al-Jemaz, Deputy Chief Executive Officer. The delegation included Dr. Suad Al-Radwan, Manager of Research & Technology at KNPC, Fahad Nouri, Manager of R&D at KNPC, Dr. […]
Dubai Investments has announced the start of construction of the AED3 billion ($820 milllion) Mirdif Hills project, being developed by its real estate subsidiary Dubai Investments Real Estate Company (DIRC). Mirdif Hills is a mixed-use residential, commercial and retail development spread across 3.9 million square feet and including 1,054 apartments, a four-star hotel, 128 serviced apartments and a 230-bed hospital. The groundbreaking ceremony was held in the […]
While 2016 was the year the unlikely became real, currency investors enter 2017 no better equipped to tell the difference between reality and illusion. Brexit and Trump made a mockery of assumptions, shredded investors’ best-laid plans and turned political risk analysts into the most in-demand advisers of the year. The two big themes of 2016 will feel palpable during the first quarter of 2017. Donald Trump takes […]
Qatar’s budget deficit is set to decline by 38.9 percent from $13bn (QR46.5bn) in 2016 to $7.8bn (QR28.4bn) in 2017 due to a rise in government revenues, according to an economic analysis by Qatar National Bank. However, capital spending is expected to increase in 2017 and remain as the main driver of economic growth in the coming years, revealed The Peninsula Qatar. The decision is aimed at […]
Seven months after the leak of 11.5 million documents from a law firm in an incident that has come to be known as the “Panama Papers”, the world is right to ask what has been done since to fight global tax evasion and promote financial transparency. As president of Panama, and in particular through my interactions with the international community, it is clear that the affair shined […]
JAKARTA Indonesia has penalized JPMorgan Chase & Co after the investment bank’s research arm recommended a smaller exposure to the country’s sovereign bonds, a senior finance ministry official said on Tuesday. “After we did a comprehensive review, we said no need to use JPMorgan’s services as a primary (bond) dealer and a perception bank,” Suahasil Nazara, the head of the ministry’s fiscal policy office, told Reuters. A […]
Funding activity for advertising technology start-ups has crashed to its lowest point in five years, underlining the struggle faced by the ad sector as Google and Facebookbecome dominant. Adtech, an umbrella term for companies that automate and facilitate the buying and selling of digital advertising, rose to prominence over the past five years, but appears now to be on the decline. The number of global adtech venture […]
Venezuela has issued $5bn in new bonds to state-run Banco de Venezuela in a private placement, as it seeks cash for imports of food and medicine as the country struggles with critical shortages of basic goods. France-based Global Emerging Markets Group said it advised on structuring and executing the deal. The operation was underwritten by China’s Haitong Securities, according to two bond traders who had seen preliminary […]
Airbusand Boeingare bracing themselves for a challenging 2017 after struggling to reach sales targets in the past year. Later this month the two companies will reveal the final tally for last year’s orders and deliveries, but both look set to fall short of their goal of achieving a book to bill of about one — essentially replacing almost every aircraft delivery with a new order. This would […]
Some analysts believe the rise in Bitcoin is due to some investors treating it as a safe-haven, like gold, at a time of global uncertainty The value of Bitcoin surged above $1,000 on Monday as the digital unit continues a dizzying rise that made it the best-performing currency of 2016. Its value has more than doubled in the last year and it was trading at around $1,024 […]
The awards celebrates the top global banks on their performance through the year. Saudi Arabia, 2 January 2017 Alawwal Bank won The Banker’s ‘Bank of the Year’ (Saudi Arabia) at a ceremony hosted in London, England. The award win caps off a momentous year for the bank and follows a series of award wins in 2016 including ‘Best Mobile Application for Banking’ and ‘Best Call Center’. The […]
Dubai-based port operator DP World is reportedly mulling plans to set up a dry port near Cairo in Egypt. DP World is also considering the establishment of other ports around Egypt, according to a report by the Daily News Egypt which quoted the country’s Minister of Industry and Trade, Tarek Kabil. According to the report, a DP World delegation will visit Egypt soon to hold talks about […]
MANAMA, BAHRAIN – 02 January 2017 Ithmaar Bank B.S.C., a Bahrain-based Islamic retail bank, announced today (ed note: 020117) that it has obtained final approval from the Central Bank of Bahrain (CBB), the Kingdom’s banking and financial services regulator on the completion of all requirements with respect to the reorganisation plan. This aims to further develop the growth achieved in Ithmaar Bank’s core retail banking business, the […]
