DUBAI Iran plans to ask international oil companies to bid for the second phase of development of its Yadavaran and North Azadegan oilfields, a senior official said on Saturday. That means Chinese firms China National Petroleum Corp (CNPC) [CNPET.UL] and Sinopec (0386.HK), which have played a leading role in developing the fields until now, will have to compete with other firms if they want to maintain that […]
Mohammed Ahli: Our airports are gearing up to serve up to 146 million passengers by 2025 Via Dubai Security Supplement features Angela Gittens of ACI and Michael Herrero of IATA Dubai, December 22, 2016: Highness Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority (DCAA) and Chairman of Dubai Airports, said Dubai has successfully transformed innovation into a working culture in the government […]
Bulletproof Group reported on Thursday that it is on track to deliver improved financial results in the 2016-17 financial year, thanks to product investment and marketing strategies. The Australian Securities Exchange-listed cloud services provider informed the market that full-year revenue is expected to reach AU$54 million, up 14 percent from the 2015-16 financial year. Half-year revenue is expected to reach AU$24 million, an 11 percent increase over […]
By Lawrence Delevingne | NEW YORK NEW YORK When six executives of Platinum Partners, including founder Mark Nordlicht, were arrested on Monday on federal charges of running a more than $1 billion hedge fund fraud, people who had long alleged they were harmed by the New York-based firm felt some vindication. But the possibility that each defendant might face prison terms has done little to soothe their […]
Mijbel AlQattan appointed President of the society by the newly elected board, replacing outgoing President Rafik Hafez. Kuwait, 22 December 2016 CFA Society Kuwait, CFA Institute’s local association of investment professionals consisting of portfolio managers, financial analysts and investment advisors, has announced the appointment of its new board of directors. Mijbel AlQattan, previously the society’s Vice President, was appointed by the newly elected board of directors to […]
A round up of some of 2016’s most significant corporate events and news stories. Smartphone sales © EPA A bright start to the year for Samsung Electronicswent up in smoke, after it took the unprecedented decision to axe its Galaxy Note 7 line, following a spate of safety issues that saw the smartphone banned from aircraft, writes Nic Fildes. The 2016 Galaxy Note iteration won substantial praise […]
The vote for Brexit will change the course of Britain’s history, Philip Hammond announced last month. The UK chancellor may be a strident advocate for a soft departure from the EU but he has also been keen to paint a positive picture of the country’s economy, saying the UK’s fundamental strengths will “ensure our future success”. Financial markets are sceptical. The economy may have confounded doom laden […]
Ma’aden, QIC and Bupa Arabia are fastest growing companies in 2011-15. Nearly 90% of fastest growing companies come from Saudi Arabia and Qatar. Share prices rose for almost all the fastest growing companies. Collectively, the fastest growing companies achieved around 100% stockmarket outperformance. 22 December 2016 A landmark report released today by research group Marmore MENA Intelligence profiles 15 of the fastest growing listed […]
“The boundaries of uncertainty have increased [for fixed-income markets],” says Dan Ivascyn, chief investment officer at Pimco, the bond specialist that invests more than $1.5tn. “Rates certainly can go higher.” What is clear for bond investors is that they face a true test of their convictions in 2017 after an end to 2016 that challenged the consensus of low inflation and rates that, at one point, drove […]
Ajman has announced plans to invest AED600 million ($163.3 million) to improve the emirate’s sewerage system. Ajman Sewerage chairman Sheikh Rashid Bin Humaid Al Nuaimi said that by 2020 the size of the sewerage network is expected to double as a result of the investment. More than 600km of pipelines and 30 pumping stations will be added, allowing 100,000 additional citizens to benefit from the modern sewerage […]
On April 7, 14 large blue letters quietly disappeared from the outer walls of an office building in an exclusive neighborhood in northern San Salvador. One by one, the letters came down from the blue and beige stucco walls, leaving behind faint traces of the name of the law firm that had been working there just days before: M-O-S-S-A-C-K-F-O-N-S-E-C-A. Employees of the El Salvador branch of Mossack […]
Dubai-UAE: 22 December, 2016 Awqaf and Minors Affairs Foundation (AMAF) in Dubai and the Khalaf Ahmed Al Habtour Foundation for Charity (KAHF) have lately signed an awqaf investment partnership contract to build a residential commercial building. Revenues from the building will be allocated to the Umom Al Kheir Bank, run by AMAF. KAHF will provide full funding for the project, estimated at AED8 million. His Excellency Tayeb […]
A hundred years ago, an arms race between the dominant global superpower the (British Empire) and a rising power (Kaiser Wilhelm’s Germany) culminated in the mass slaughter of World War One. The deep mistrust between the United States and the People’s Republic of China has all the potential to spawn a traumatic chapter in international relations. Despite its “pivot” to Asia, the Obama White House was cautious […]
|By Arabian Post Staff|A Booz Allen Hamilton report discusses how the global retail sector is changing in the face of an unprecedented shift in customer behavior, fueled by advanced technology and wider acceptance of online shopping and ecommerce. The report titled ‘Next Generation Retailers: Power Up Your Analytics’ has found that investing in customer analytics offers exciting opportunities for the growth and development of the regional retail […]
Each year at the Ira Sohn conference a group of the world’s best known hedge fund managers present their top ideas for what to buy in the stock market. The event is so closely followed by investors that it is not unknown for shares in companies that are picked to start rising before presenters have even left the stage. More recently, however, some of these celebrity investors […]
22 December 2016 Ashtead Technology has announced the acquisition of Abu Dhabi based TES Survey Equipment Services LLC for an undisclosed sum. The acquisition will enable the leading independent provider of subsea equipment and services to the offshore oil and gas industry to significantly increase its customer service offering in the Middle East, a region which has strong growth potential for Ashtead. Established in 2007 by Susan […]
National Development & Investment Company (ASAAS) has announced plans to build a 1.5 million square metre entertainment and leisure destination to be built in Barka, a coastal city in the north of the country. The company said the project will feature an integrated theme park, a wildlife and waterpark, an equestrian centre and edutainment centre as well as several hotels, a residential zone and retail areas. Khalid […]
Christmas is almost here (and so is Hanukkah), and so it is time for the Long View to revisit the offices of Hindsight Capital LLC once more. Hindsight Capital, for the uninitiated, is the hedge fund that beats all others year in and year out because it is endowed with 20/20 hindsight; it can see the future. The returns to clairvoyance are potentially infinite, so it has […]
America’s biggest defence contractors cannot decide whether to be thrilled or terrified by Donald Trump. The titans of the US defence establishment beat a path to Mr Trump’s Florida resort on Wednesday to hear the president-elect warn that the US government is spending too much money on wasteful, over-budget, out-of-control defence programmes. At the same time, however, Mr Trump has consistently promised a build-up in America’s military — including his […]
How long ago it seems — that post-referendum panic in the UK stock market. The pound plunged and the crowd ran into “safe havens” in the form of government debt, ditching those risky, tricky shares. On July 13, this column pointed out the folly of this strategy. At that moment, buying and holding the UK government’s 10-year bond guaranteed an annual return of just 0.9 per cent. […]
RAK National Hotels, a subsidiary of RAK Hospitality Holding, and Hilton Worldwide have announced that Hilton’s first mid-market hotel in Ras Al Khaimah is scheduled to open by the second quarter of 2017. The announcement was confirmed ahead of the 2016 Ras Al Khaimah Finance and Investment Forum, which took place this week. Hilton Garden Inn Ras Al Khaimah is to be located on the site of […]
By Michael Shields and Arno Schuetze | ZURICH/FRANKFURT ZURICH/FRANKFURT Credit Suisse and Deutsche Bank have been hit with a combined penalty of more than $12 billion over the sale of U.S. toxic debt, further hampering two of Europe’s leading investment banks as they grapple with falling profits. The penalty puts them at a further disadvantage to larger U.S. rivals. Credit Suisse (CSGN.S) agreed in principle to pay […]
Deutsche Bank and Credit Suisse have agreed to pay out billions to resolve a probe into the alleged mis-selling of mortgage-backed securities at the height of the US housing bubble, striking deals before the Trump administration takes power. The deals came as federal prosecutors announced they were suing Barclays and two of its executives over the issue of allegedly fraudulent residential mortgage-backed securities. The suit followed the breakdown of talks […]
Nearly a decade ago, Warren Buffett bet Protege Partners, a fund of hedge funds, that over the course of 10 years the S&P would outperform Protege’s returns net of all fees, costs and expenses. To make it real, the loser agreed to pay $1 million to the charity of the winner’s choice. At this past year’s annual meeting, Warren Buffett provided an update on the now […]
