The Federal Reserve began a two-day policy meeting on Wednesday with economists evenly split on whether Thursday will see the first official U.S. interest rate rise since 2006. The decision by the U.S. central bank’s Federal Open Market Committee (FOMC) is expected on Thursday at 2 p.m. (1800 GMT). U.S. economic data are flashing conflicting signals, with unemployment falling but inflation subdued, while slowing growth in China […]
ANTAKYA, Turkey — Government airstrikes on a rebel-held suburb of the Syrian capital, Damascus, killed more than 80 people and wounded about 200 on Sunday, according to local activists and monitoring organizations. The attacks came one day after the area’s largest rebel group, the Islam Army, announced a new offensive against government forces in a neighboring suburb. While it was unclear if the two attacks were linked, the […]
Oil has fallen to a six-month low, and hopes of a quick rebound are fading as demand heads into an autumn swoon. Brent crude tumbled below $50 on Monday for the first time since January. Gasoline fell the most in almost three years. The slump may have further to go. U.S. refineries, which turned a record amount of crude into gasoline during July, typically slow down from […]
Gold’s tumble to the lowest since 2010 promises to prolong a mergers and acquisitions boom that’s seen transactions at a three-year high as weaker prices slash asset valuations. Deals valued at $9.6 billion were proposed or completed in the six months to June 30, up 7 percent on the previous half, as producers including OceanaGold Corp. agreed acquisitions, according to data complied by Bloomberg. They totaled $22.3 […]
Gold stocks dropped, erasing most of yesterday’s gains, on concern Chinese buyers are losing their appetite for the metal. Gold Fields Ltd., which owns mines in South Africa and Australia, sank 6.7 percent as of 2:34 p.m. in Johannesburg. Sibanye Gold Ltd. and AngloGold Ashanti Ltd. tumbled more than 6 percent. The FTSE/JSE Africa Gold Mining Index fell 5.5 percent and is trading near the lowest since […]
The bargain hunters who thronged Kumar Jain’s jewelry store in Mumbai as gold prices tumbled in 2013 are staying away for now. They’re holding off because they think this week’s collapse to the lowest price in five years has further to run, according to Jain. That’s a view shared with Goldman Sachs. “It hasn’t been anything like what happened two years ago,” Jain said, referring to the […]
A surge in shares of Amlak Finance since they returned to Dubai’s stock market last month has raised concerns about a new wave of unbridled speculation on one of the region’s biggest exchanges. The Islamic mortgage lender has soared about 150 percent since it restarted trading in early June after a six-year suspension due to debt problems. At its latest close of 2.52 dirhams, the stock is […]
Apple Inc. shares tumbled, wiping out $32 billion in market value, after disappointing iPhone sales rekindled concerns over whether the company can keep making must-have products. Even though iPhone sales climbed 35 percent to 47.5 million units in the fiscal third quarter, the result fell short of the 48.8 million shipments projected by analysts. That, plus a revenue forecast for the current period that missed estimates, on […]
The rout in commodities deepened with prices touching the lowest since 2002 as the prospect of higher U.S. interest rates sent gold tumbling. Raw materials are losing favor with investors as the dollar gains amid signals from Federal Reserve Chair Janet Yellen that the central bank may raise rates this year on the back of an improving U.S. economy. Higher borrowing costs curb the attractiveness of commodities […]
How long would it take to lose the novelty of driving through the Golden Gate Bridge every day? Click here for bigger version. If one would get tired of the view, would one start looking at the cars instead? What do you see, then and now? –Tigerstrypes References: http://rogerwilkerson.tumblr.com and https://en.wikipedia.org/wiki/Golden_Gate_Bridge Posted in Car Lust, Car Spotting, Convertibles, Economy Cars, Everyday Iron, Family Sedans, Luxury, Personal Luxury, […]
|By TAP Staff| The end of sanctions could bring a rapid economic boom Iran, which had its oil exports halved by sanctions, and its economy cut by about 20 percent. The prospect of a deal has already helped push down global oil prices because of the possibility that Iranian supply could return to the market. Oil prices tumbled more than a dollar on Tuesday after the deal […]
China’s biggest stock-market rout since 1992 has done nothing to erode the bullish outlook of Goldman Sachs Group Inc. Kinger Lau, the bank’s China strategist in Hong Kong, predicts the large-cap CSI 300 Index will rally 27 percent over the next 12 months as government support measures boost investor confidence and monetary easing spurs economic growth. Leveraged positions aren’t big enough to trigger a market collapse, Lau […]
U.S. crude tumbled about 2 percent on Tuesday, sinking for a second straight day as investors fled to safe havens on worries about a near-bankrupt Greece and China’s stock market losses and as technical selling threatened to push oil into a bear market. Iran’s determination to seal a nuclear deal with global powers to bring more of its crude to an oversupplied market and the restart of […]
Oil prices tumbled their most in three months on Monday, with U.S. crude falling 6 percent, after Greece’s rejection of debt bailout terms and China’s rolling out of emergency measures to support its stock markets shook global markets. Adding to the pressure on oil, Iran and global powers were trying to meet a July 7 deadline on a nuclear deal, which could bring more supply to the […]
Shares of the biggest U.S. banks fell, led by a 2.2 percent decline in Citigroup Inc., after talks to provide Greece with additional bailout aid failed and the Greek government imposed capital controls. The Standard & Poor’s 500 Financials Index slid as much as 1.1 percent, the biggest decline in almost seven weeks. JPMorgan Chase & Co., the largest U.S. bank by assets, dropped 1.9 percent and […]
Gold edged higher on Friday, recovering from its lowest in more than two weeks as Greece failed to reach an agreement with its international creditors, although gains were capped by expectations of a U.S. interest rate hike. Asian equities fell as Greece failed again to reach an agreement with its creditors and stumbled towards a default, while major currencies like the euro and dollar drifted as the […]
Saudi opening may be non-event with no licences awarded RIYADH, 11 hours, 30 minutes ago The opening of Saudi Arabia’s stock market to direct foreign investment on Monday may disappoint traders who have been hoping for large and immediate fund inflows, as the kingdom has yet to announce the award of any licences. Saudi Arabia’s Capital Market Authority announced plans to open the market last July, and […]
Shares in Dubai Islamic mortgage provider Amlak Finance fell sharply as they resumed trading on Tuesday after being suspended for nearly six years. The stock tumbled as much as 23.5 percent shortly after opening but then pared losses to 14.7 percent. It topped trading volumes on the emirate’s bourse, whose main index slipped 0.2 percent. Trading in Amlak, part-owned by Dubai’s biggest developer Emaar Properties, was halted […]
Plunging iron ore prices are providing a lifeline for some of China’s biggest steel mills, but raising the prospect of a rising tide of exports and increased friction with the European Union and countries such as India. Even as China’s domestic steel demand shrinks and the industry battles chronic overcapacity, lower iron ore prices have helped many large mills post better earnings in 2014 than a year […]
The price of crude is falling sharply this afternoon, and is down more than 6 percent on the day. Energy analysts are sharply divided lately over where exactly the price of oil is going to go. Earlier today, the Baker Hughes Rig Count showed the smallest decline in active rigs in months, one small sign that the steep tapering off in drilling may be coming to an […]
Dubai’s Amlak Finance will hold a shareholder meeting on April 16 to seek their approval for lifting a six-and-a-half year trading suspension on the mortgage lender’s shares, according to a bourse filing on Wednesday. If shareholders agree, the board will then seek permission from the “concerned authorities” to resume trade and determine a date to do so. Trading in Amlak, 48 percent owned by Dubai’s biggest developer […]
Liquidators for ES Bankers (Dubai) Ltd (ESBD) have estimated they will pay out 82.7 percent of the $93.5 million owed to depositors in the stricken bank, advisory firm Deloitte said on its website. However, unsecured creditors of the Dubai arm of the Espirito Santo empire, which stumbled after accounting irregularities were identified at one of its holding companies earlier last year, will get none of the $14 […]
Salim Al Aufi, Oman’s undersecretary for oil and gas, likens attempts to cut the reliance on oil during a price slump to acting “with a gun pointed at your head.” If you have to make decisions under pressure, “you will probably make the wrong ones,” he said March 3 in Muscat during a panel discussion on the impact of the oil shock. Oman relied too much on […]
Gold imports by India, the world’s biggest consumer, are poised to surge after Finance Minister Arun Jaitley belied industry expectations for a reduction in tax. Overseas purchases may jump to 100 metric tons in March from about 25 tons in February as jewelers and traders, who delayed purchases in anticipation of the tax cut, replenish stockpiles, Rajesh Mehta, chairman of Rajesh Exports Ltd., said by phone from […]
