LG Electronics (LG) will be unveiling the third generation of its popular L Series smartphones at the Mobile World Congress (MWC) 2014. The L SeriesIII devices retain LG’s distinctive minimal design philosophy while boasting an impressive package that includes enhanced hardware, UX features and operating systems (OS) unmatched in its class. With the original L Series and L SeriesII having enjoyed tremendous success worldwide, the L SeriesIII […]
Gold rose 0.5 percent to a three-month high on Thursday, targeting a break above $1,300 after disappointing U.S. retail sales data weighed on the dollar and increased bullion’s appeal as a currency hedge. The dollar index tumbled 0.4 percent after U.S. retail sales fell unexpectedly in January and the number of Americans filing new claims for unemployment benefits rose last week, in the latest signs of slowing […]
President Barack Obama was sued by Senator Rand Paul over U.S. electronic surveillance he claims is illegal, adding to challenges that may land post-Sept. 11 government data collection in the U.S. Supreme Court. The Kentucky Republican announced today that he had filed his complaint in Washington federal court. Paul was joined as co-plaintiff by FreedomWorks Inc., a Tea Party-backed group. The filing couldn’t be immediately confirmed in […]
Gold rallied to the highest level since November as investors assessed further cuts to U.S. stimulus and Chinese buyers increased purchases to extend last year’s record consumption. Silver, platinum and palladium rose. Bullion for immediate delivery gained as much as 1 percent to $1,287.81 an ounce, the highest price since Nov. 18, and was at $1,283.85 by 3:01 p.m. in Singapore. A fifth day of advance would […]
Gold rose to a two-week high, set for the longest rally since October, as U.S. jobs data missed estimates and Chinese buyers returned after the Lunar New Year break. Silver headed for the longest winning run since August. Bullion for immediate delivery rose as much as 0.7 percent to $1,276.03 an ounce, the highest level since Jan. 27 and surpassing its 100-day moving average of $1,267.43, before […]
Emerging Asia will become the world’s primary weak spot in 2014, but we have reached the beginning of the end of this crisis, according to Saxo Bank’s investment outlook for the first quarter of 2014 Global overview Having maintained world growth at acceptable levels throughout the current crisis, emerging Asia will become the world’s primary weak spot in 2014. Investment in that region has reached a staggering […]
Gold held steady on Thursday as global equities remained volatile amid lower risk appetite and concerns over economic growth, and as investors waited for cues from U.S. jobs data. A mixed bag of U.S. data added to pressure from the emerging markets turmoil on equity markets, underpinning safe-haven assets such as gold and the yen. “Even when stocks have rallied over the past few trading sessions, we […]
Abu Dhabi and Dubai completed due diligence on a potential merger of the two bourses in the United Arab Emirates, bringing the combination a step closer, according to two people familiar with the matter. Valuation and structuring work was completed in December, with the deal now requiring approval from the governments of the two emirates before proceeding further, the people said, asking not to be identified as […]
Asian shares skidded on Tuesday while the dollar struggled to keep its footing, after disappointing data cast doubt on the strength of the U.S. economy and gave investors little reason to hope for stability in emerging markets after their recent rout. MSCI’s broadest index of Asia-Pacific shares outside Japan fell about 1.4 percent, touching its lowest level since early September at one point. The gloom was likely […]
Commodities moved lower during the course of the week as the diverging outlook between emerging and developed economies continued to raise uncertainty about the demand outlook for commodities. The weakness was primarily driven by losses in both metal sectors with industrial metals being hurt by weak China manufacturing data together with a slowdown in activity ahead of the Lunar New Year shutdown in several Asian markets. Precious […]
Gold’s biggest slump in three decades has been a boon for MKS (Switzerland) SA’s PAMP refinery near the Italian border in Castel San Pietro, whose bullion sales to China surged to a record as demand rose for coins, bars and jewelry. As prices plunged 28 percent in 2013, investors dumped a record 869.1 metric tons from gold-backed funds traded mostly in the U.S. and Europe. Much of […]
Gold rallied for a third session on Monday to its highest in two months as equities fell on worries that capital outflows from emerging economies would continue, boosting bullion’s safe-haven appeal. Asian shares took a beating and the yen raced to a seven-week high against the dollar, with the U.S. Federal Reserve poised to continue tapering its stimulus and tighter credit conditions in China raising fears of […]
Asian shares tumbled and the yen reached for seven-week highs against the dollar and euro on Monday as emerging markets remained under pressure, with the U.S. Federal Reserve poised to continue tapering stimulus and tighter credit conditions in China raising fears of a sharper economic slowdown. But U.S. stock futures suggested the selloff might abate later in the session. S&P 500 E-mini futures edged up 0.2 percent […]
Barrick Gold Corp’s warning this week that its in-the-ground gold reserves will shrink is widely expected to be echoed in the coming weeks by miners around the globe, spelling more asset writedowns for an already beat-up sector. For the first time in years, miners from Canada to Australia will tell their shareholders that reserves – the future source of production, cash flow and growth – have significantly […]
By Simeon Kerr The many daily flights between Dubai and Tehran are always busy. But these days the Iranians heading home after business and shopping trips are being joined by rising numbers of briefcase-toting western and Asian passengers. They are part of a new wave of foreign investors eager to investigate business opportunities in post-sanctions Iran, a potentially lucrative trade that Dubai, the commercial hub of the […]
Gold will extend declines this year as gains in equity markets reduce the need for haven assets and increased regulation hurts risk appetite, according to Morgan Stanley, which lowered its bullion forecasts. The 2014 target was cut 12 percent to $1,160 an ounce and the prediction for 2015 reduced 13 percent to $1,138, analysts Peter Richardson and Joel Crane wrote in a report today. Gold remains under […]
President Barack Obama banned U.S. eavesdropping on the leaders of close friends and allies on Friday and began reining in the vast collection of Americans’ phone data in a series of limited reforms triggered by Edward Snowden’s revelations. In a major speech, Obama took steps to reassure Americans and foreigners alike that the United States will take into account privacy concerns highlighted by former spy contractor Snowden’s […]
A deal between Iran and six major powers intended to pave the way to a solution to a long standoff over Tehran’s nuclear ambitions will come into force on January 20, the Iranian Foreign Ministry and the European Union said on Sunday. Shortly after the interim accord takes effect, an Iranian official added, Tehran and world powers will start negotiating a final settlement of their differences about […]
If the medicine tastes bad, it’s probably doing you good. Emerging economies might console themselves with that thought when they’re suffering market cramps and hemorrhaging capital as the U.S. ends its monetary stimulus. The Federal Reserve will begin winding down, or tapering, its $85 billion-a-month money-printing program this month, and emerging markets are seeing foreign investment pull back as a result. Last year, around $30 billion fled […]
The secretive U.S. Foreign Intelligence Surveillance Court on Friday renewed the authority of U.S. intelligence agencies to collect data on millions of Americans’ telephone calls in a program that has set off a legal battle over privacy rights. The court allowed the intelligence community to collect metadata from phone companies, the Office of Director of National Intelligence James Clapper said in a news release. The release offered […]
Hedge funds got less bullish on gold for the seventh time in eight weeks as signs of accelerating U.S. economic and tame inflation growth drive prices to the worst annual drop in more than three decades. The net-long position in gold fell 12 percent to 28,702 futures and options in the week ended Dec. 24, U.S. Commodity Futures Trading Commission data show. Short holdings gained 1.1 percent […]
The genetic testing for breast cancer made famous by Oscar winning Hollywood actress Angelina Jolie would now be locally available for UAE residents, thanks to the first genome testing lab set to open in Abu Dhabi. Angelina Jolie had rocked the Internet and the medical community earlier this year with a disclosure through New York Times that that she had tested positive for a faulty BRCA1 gene […]
Gold fell for the first time in five days, heading for its biggest annual loss in three decades as investor holdings extended their decline to the lowest since 2009. Silver retreated for the first time in more than a week. Bullion for immediate delivery slid as much as 0.5 percent to $1,206.81 an ounce and was at $1,207.69 by 2:23 p.m. in Singapore. Prices climbed to $1,219.28 […]
The decision by India’s top investigating agency to probe a third billionaire-led mining deal in six months puts at risk government efforts to revive $160 billion of stalled projects. The Central Bureau of Investigation said on Dec. 23 it started probing Anil Agarwal, who runs the country’s biggest aluminum and copper producer. It alleged irregularities in his 2002 purchase of the state’s 26 percent stake in Hindustan […]
