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Columns

|By Matein Khalid| I had called for Brent crude to fall to $30 in successive columns since the November 2014 OPEC conclave in Vienna, when Saudi Arabia abandoned its traditional role as the “swing producer” the central bank of black gold. The world oil markets now face a supply shock, a demand shock, epic volatility and the loss of the “swing producer”. The world is running out […]

Investing

|By Matein Khalid| This was the ghastliest week for global risk assets since September 2011. Not even 290,000 new US jobs in December could negate the raw fear on Wall Street generated by the 10% fall in Shanghai, a yuan depreciation, market meltdowns of 6 – 7% in Tokyo, Hong Kong, Frankfurt, Mumbai and New York. Four months ago, I had published a KT article titled “History’s […]

Featured

Oil fell briefly below $30 a barrel on Tuesday, extending a relentless selloff that has wiped almost 20 percent off prices this year amid deepening concerns about fragile Chinese demand and the absence of output restraint. The day’s near 4 percent drop marks a seventh day of losses for oil. Traders have all but given up attempting to predict where the new-year rout will end, with momentum-driven […]

Politics

Iran’s Supreme Leader Ayatollah Ali Khamenei said Saudi rulers will face repercussions after the kingdom executed an outspoken Shiite cleric. “The divine hand of revenge will take the Saudi politicians by the throat,” Khamenei, Iran’s highest authority, said on Sunday. Cleric Nimr al-Nimr “was neither encouraging people to armed protests, nor plotting secretly, all he did was to openly criticize,” said Khamenei, who frequently lashes out at […]

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Investing

|By Matein Khalid| The plunge in crude oil after OPEC’s Vienna conclave, Dr. Draghi’s failure to resist Bundesbank pressure not to fire another ECB easy money bazooka, Wall Street’s junk bond debacle and an imminent rise in the Fed Funds rate for the first time since 2006 will all shape the next big trades in Planet Forex. The Euro has risen to 1.10 on Draghi’s failure to […]

What's On

Coldhak, a Canadian non-profit, is among the Twitter users recently warned by the microblogging service that their accounts might be targeted for hacking by “state-sponsored actors.” Coldhak on Friday posted a tweet with the text of the warning from Twitter. The e-mail warning said hackers “possibly associated with a government” might be trying to gain information about Twitter users’ e-mail addresses, IP addresses and/or phone numbers. This […]

Featured

As oil crashes through $35 a barrel in New York, some producers are already living with the reality of much lower prices. A mix of Mexican crudes is already valued at less than $28, an 11-year low, according to data compiled by Bloomberg. Iraq is offering its heaviest variety of oil to buyers in Asia for about $25. In western Canada, some producers are selling for less […]

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Investing

|By Matein Khalid| Saudi Arabia has fascinated me since I first met Hani AZ Yamani as a teenage student all those years ago at Wharton. Hani’s father was Sheikh Ahmed Zaki Yamani, legendary Saudi Oil Minister (1962-86) under Kings Faisal, Khalid and Fahd. Sheikh Yamani managed the 1973 and 1979 oil shocks, survived a terrorist assault in Vienna by Carlos the Jackal, midwifed the birth of Saudi […]

Real Estate & Construction

|By TAP Staff|Indian nationals were ranked first for foreign investment in Dubai’s property sector for the first half of this year, having made a total of 3,017 transactions worth AED 7.8 billion, according to statistics released by the Dubai Land Department. British investors were in second place having conducted deals worth AED 4.7 billion, followed by Pakistani investors with transactions worth AED 3.3 billion. Canadian investors came […]

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Investing

|By Matein Khalid| Even as China’s President meets the capo di tutti capi in Seattle, its manufacturing PMI falls to 47, a post Lehman low, with new export orders in a slump. I found it significant that the offshore yuan fell 200 pips to 6.4346 after the PMI. This proves my core argument, outlined a month ago. The Middle Kingdom will respond to its economic decline and […]

Featured Blogs

INTERNATIONAL. Gleaming glass skyscrapers, state-of-the-art technology, and wealthy merchant families have replaced the Gulf’s muddy towns and villages populated by traders and pearl fishers that once lacked electricity, running water or modern communications. The region’s modern day projection of a visionary cutting- edge, 21st  century urban environment masks however the fact that some things have not changed. Gulf states continue to be ruled by the same families, […]

Middle East

ABU DHABI // As Sheikh Mohammed bin Zayed continued to meet the families of the 45 servicemen who were killed in Yemen one week ago, charitable organisations and leaders have offered to provide support to their families. Sheikh Mohammed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, met bereaved families in Fujairah and Ras Al Khaimah. And, in the capital, Sheikh Rashid […]

What's On

Ailing Canadian handset maker BlackBerry Ltd. is working to reinvent itself and spending a pretty penny to do it. The company has agreed to buy Good Technology for $425 million in an all-cash deal. The Good acquisition certainly fits into BlackBerry’s strategy to offer customers stronger mobile security. Good is recognized as a leader in security mobility with solutions that cover all stages of the lifecycle for […]

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Columns

|By Matein Khalid| Hong Kong now trades at 9.6 times earnings and 0.86 book value. Hang Seng valuations were gutted by the protest movements in Central and the Shanghai financial meltdown. The Hang Seng index is down 25% since late May and now trades at six times forward earnings, its post Lehman, post 2014 bottom. Hong Kong trades at its lowest price/book value since the Asian flu […]

Middle East

CAIRO — The Egyptian foreign ministry said Sunday that it had summoned the British ambassador to object to his comments on a recent court ruling to jail two journalists, escalating the government’s defense of its crackdown on dissent. The two journalists, Mohamed Fahmy and Baher Mohamed, have attracted special attention because, unlike most journalists in Egypt’s jails, both have had long careers at respected international news organizations. […]

Middle East

CAIRO — An Egyptian judge on Saturday handed down unexpectedly harsh verdicts in the trial of three journalists from the Al Jazeera English news channel, sentencing them to three years in prison on charges that legal experts said were unfounded and politically motivated. The verdict on Saturday was especially stunning because Egyptian officials had repeatedly signaled that they viewed the trial as a nuisance that had brought […]

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Middle East

ABU DHABI // Women who have overcome prejudice to pursue successful careers in the aviation industry have spoken of the challenges they faced. The Etihad Airways event, organised ahead of Emirati Women’s Day on Friday, heard from a panel of women who work for the company. The airline employs 1,269 female Emiratis, who make up 49 per cent of Emiratis in the company and 37 per cent […]

Biz Tech

TORONTO Emails sent by the founder of infidelity website AshleyMadison.com appear to have been exposed in a second, larger release of data stolen from its parent company, cyber security experts confirmed on Thursday. The data dump by hackers who have attacked the site appears to include email messages linked to Noel Biderman, founder and chief executive officer of its Toronto-based parent company Avid Life Media. In a […]

Investing

|By Matein Khalid| Every global recession since the OPEC oil shocks of 1973-74 was triggered by a contraction in the $17 trillion US economic colossus. The failure of Lehman Brothers, the meltdown in US subprime mortgages, the impotence of the implicit “Fed/Uncle Sam” put, the ice age in the commercial paper and interbank money markets all tipped the US economy into recession in late 2008 and triggered […]

Columns, Investing

|By Matein Khalid|So Pearson PLC has sold the FT Group (with its flagship Financial Times newspaper) to Japan’s Nikkei Inc for $1.32 billion. Pearson will use the cash proceeds to increase its investment in education publishing businesses in the US and Canada, now 75% of revenues. This deal is a milestone in the history of newspaper publishing and my own life as an investor/financial journalist. I discovered […]

Middle East

TEHRAN — For Jason Rezaian, the Washington Post reporter now on trial for espionage in Iran, the incident was extraordinary but still looked like another example of the difficulties in covering the country’s politics. On a spring day in March 2014, his wife and a female photographer were stopped in broad daylight in their car on a busy Tehran highway and taken into a van, where, friends […]

Middle East

Shepherding livestock in the West Bank village of Susiya. Residents have been displaced three times in the last 30 years and are faced with ejection once again. By DIAA HADID July 23, 2015 SUSIYA, West Bank — Yousef Nawajaa strode between the tents bedecked with Palestinian flags, scattered through parched orchards and rocky hills, shouting delightedly to a man nearby: “Hey, did you hear? John Kerry spoke about Susiya!” […]

Featured Blogs

UAE. The current shortage of middle income housing is one of the greatest challenges facing the real estate industry in the Middle East, said Craig Plumb, Head of Research at JLL MENA. “With a shortage of housing for those families earning salaries around the UAE average, it is important that we address some of the best practice initiatives and developments that have been launched in the Emirates, […]

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