By Gerald Al Fil While the comeback of stock market rallies investment banking, the Shari’ah-compliant industry faces its toughest test since it entered its boom phase a decade ago. I got puzzled when I received a tweet from @Worldmuslimnews on May 11 saying “Islamic finance is out”. Are issuances of Islamic bonds (sukuk) not going through the roof as we can read day by day? Could first […]
New York Times Co. (NYT), adding technology experience to its board to help with its shift to the Internet, named the Massachusetts Institute of Technology’s Joichi Ito and venture capitalist Brian McAndrews as directors. Ito, director of the media lab at MIT, and McAndrews, a partner with Madrona Venture Group, brings the board to 13 members, the New York-based company said today in a statement. Times Co. […]
NEW YORK (AP) — With new public stock offerings for guitar maker Fender and travel booking website Kayak on deck next week, there are signs demand is starting to grow for IPOs after a five-week freeze triggered by a steep decline in financial markets and exacerbated by Facebook’s rocky May 18 debut. Five companies are scheduled to go public next week alone, including Fender, Kayak and Palo […]
By ruling that ObamaCare is constitutional, the Supreme Court has set in motion a slew of tax hikes. Well, someone has to pay for it. For rich folks, looming big is the 3.8% Medicare surtax on investment income, and the 0.9% Medicare payroll tax hike (from 1.45% to 2.35%). And then there are the tax hikes for everybody else. Obama’s pledge against any form of tax increase […]
(Reuters) – India’s economy will grow at its slowest pace in a decade this fiscal year, with tight monetary policy, political gridlock and a weakening global economy prompting analysts to slash their forecasts, a Reuters poll showed. Even as growth falters, the rupee has been hitting all-time lows against the dollar, the government is struggling with bloated fiscal and current account deficits and inflation has remained stubbornly […]
MADRID (Reuters) – Hundreds of unemployed Spaniards who had walked hundreds of kilometers (miles) to Madrid joined protests on Saturday against Prime Minister Mariano Rajoy’s government and its handling of an economic crisis. Demonstrations have swollen across Spain since the center-right government announced 65 billion euros ($79 billion) in new spending cuts two weeks ago to cut its deficit and avert a full-blown bailout, with firefighters and […]
Forbes editors and reporters recap the past week, from Ben Bernanke to financial regulation and faltering restaurant stocks, then look ahead to upcoming earnings from the likes of Apple and Facebook. Click below to watch: Stocks had a rough finish to what was shaping up as a decent week. Chipotle landed with the biggest thud, plunging 21.5% after disappointing revenue Thursday, while Advanced Micro Devices dropped 13.2% […]
PARIS—Investors abandoned Peugeot SA in droves Friday, driving its share price to its lowest level in over a quarter century, as a potential credit downgrade and a worsening outlook for the European car market overshadowed the company’s plans to shed 8% of its French workforce. Moody’s Investors Service Inc. warned Friday that it will study a possible lowering of Peugeot’s debt rating because of the worsening cash […]
Europe’s debt crisis has many American investors closely watching the euro. Since the euro can impact U.S. investors, Americans should be aware of the euro’s worth. Chuck Butler, president of EverBank World Markets and author of The Daily Pfennig, explained that if the euro is trading around $1.2950 (as it was on May 9, 2012), 100 euros would be worth $129.50. If the euro falls 1 percent, […]
