The Bank of England upgraded UK growth forecasts significantly for the second time in six months on Thursday in the latest indication the central bank’s once-dire outlook for the economy after June’s Brexit vote has been proven overly pessimistic. The bank said it now predicts gross domestic product will grow 2 per cent this year, the same as last year and up from 1.4 per cent forecast […]
By Isabel Coles | RASHIDIYA, Iraq RASHIDIYA, Iraq His name was Ayman, but the couple who brought the boy home to their Iraqi village after buying him for $500 called him Ahmed. Islamic State militants had killed or enslaved Ayman’s parents in their purge of the Yazidi religious minority to which he belongs, then sold the four-year-old to Umm and Abu Ahmed, who are Muslims. For the […]
Falcon 2017-1 prices $410 million of Loans Dubai, U.A.E., 2 February 2017 Falcon Aerospace Limited and Falcon Aerospace USA LLC (“Falcon 2017-1” or “Borrowers”) will issue $410 million of asset-backed secured term Loans. The Borrowers expect to use the proceeds to purchase 21 in-production, narrow-body aircraft. Dubai Aerospace Enterprise (DAE) Ltd will act as servicer for the transaction. Mr. Firoz Tarapore, Chief Executive Officer of DAE said: […]
The Bank of England kept its key interest rate at 0.25%, gilt purchase program at GBP435BN, and corporate-bond plan at GBP10b, voting 9-0 on all 3 decisions. The BOE also raises growth forecasts, while keeping its inflation forecasts broadly unchanged, and said the current policy stance “depended on the trade-off between above-target inflation and slack in the economy.” The central banks also reiterated that “monetary policy could […]
ULAANBAATAR/HONG KONG Private citizens in Mongolia are donating cash, jewelry, gold and even horses to help the government make a near $600 million payment to bondholders next month. The cash-strapped nation has been embroiled in an economic crisis brought about by a collapse in foreign investment, slowing growth in China and weak commodity prices. Its currency, the tugrik, lost nearly a quarter of its value last year. […]
New research from scientists at the University of Toronto and researchers in China and Taiwan provides the first evidence that proteins have been preserved within the 195-million-year-old rib of the sauropodomorph dinosaur Lufengosaurus. The study appears in the Jan. 31 issue of the journal Nature Communications. “These dinosaur proteins are more than 100 million years older than anything previously discovered,” says Professor Robert Reisz, a specialist in […]
February 2, 2017 by: Hudson Lockett in Hong Kong Thursday 02.00 GMT Overview Stock markets were mixed in Asia after the US Federal Reserve left interest rates unchanged but hinted at further rises this year. The Australian dollar gained against its US counterpart on data showing a record trade surplus, while oil pared back some of Wednesday’s gains. Hot topic The Australian dollar gained 0.6 per cent […]
Investors demanded a higher premium to hold France’s debt instead of Germany on Wednesday, reflecting a combination of political uncertainty and concerns over the outlook for inflation and central bank debt purchases. A series of upcoming elections in Europe, combined with worries that inflation pressures are picking up, have pushed down eurozone bond prices since the start of the year, with France becoming a notable laggard. The […]
Dubai Islamic Bank, the largest sharia-compliant bank in the United Arab Emirates, has appointed banks ahead of a potential benchmark-sized US dollar sukuk sale, banking sources familiar with the situation said on Wednesday. The group of banks arranging the deal includes Bank ABC, Boubyan Bank, Emirates NBD, HSBC, Maybank, National Bank of Abu Dhabi, Sharjah Islamic Bank and Standard Chartered, the sources said, speaking on condition of […]
“Hydrogels are soft, wet, biocompatible, and can form more friendly interfaces with human organs,” says Xuanhe Zhao, associate professor of mechanical engineering and civil and environmental engineering at MIT. Credit: Massachusetts Institute of Technology Engineers at MIT have fabricated transparent, gel-based robots that move when water is pumped in and out of them. The bots can perform a number of fast, forceful tasks, including kicking a ball […]
President Donald Trump named his pick for the U.S. Supreme Court Tuesday night, tapping Judge Neil M. Gorsuch of the 10th U.S. Circuit Court of Appeals in Denver. If confirmed by the U.S. Senate, Gorsuch would fill the vacancy created by the death of Justice Antonin Scalia. Like Trump, he’s an Ivy Leaguer: He attended Columbia University, Harvard Law School — and also the University of […]
|By Arabian Post Staff| Dubai Holding yesterday confirmed that it will repay the entire outstanding principal, along with accrued interest, of its final and remaining GBP500 million bond, maturing today. According to an announcement filed with Nasdaq Dubai, this will be the last tranche of Dubai Holding Commercial Operations Group’s multi-currency, Medium-Term Notes Programme issued in 2007. The full repayment will be made from Dubai Holding’s internal […]
“It felt like something had been sawed off,” Charger said about her separation from Jasilea. She got so depressed she was moved to a psychiatric unit, where she often got into fights. She aged out of the system at 17, but when she returned to the ranch developments and trailer parks of Eagle Butte, she struggled with depression. She and Jasilea had gone “from knowing everything about […]
Dubai-based Majid Al Futtaim on Tuesday reported a 9 percent increase in group revenues to $8.14 billion (AED29.9bn) in 2016 compared to $7.43bn (AED27.3bn) in 2015. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 8 percent, reaching $1.11bn (AED4.1bn), driven by additional hypermarkets, supermarkets and family entertainment centres. Alain Bejjani, Majid Al Futtaim Holding CEO, said the company will continue on its growth trajectory in […]
The great Trump reflation story, which points to strong equities, weak bonds and a highly valued dollar, is by now thoroughly entrenched in the minds of global investors. Not without reason. But when conviction is near-universal in markets it makes sense to ponder what investors might be missing. For my money the most likely flaw in this narrative relates to the cost of protectionist policies. There is […]
US stocks on Monday faced the heaviest sell-off since before the presidential election in the biggest reversal yet of the so-called Trump trade that has carried equities to record peaks. The S&P 500 index, a broad barometer of American stock performance, fell as much as 1.2 per cent in late-morning trading in New York. That represented the steepest intraday fall since November 1 and came after it […]
Microsoft was finalising plans to borrow at least $14bn Monday, in what will be the largest corporate bond sale of the year so far, as the US technology company joins a rush to tap debt markets ahead of expected interest rate rises later this year. The deal will rank as one of the largest ever corporate debt sales not to finance a takeover, and follows a bumper […]
President Donald Trump has attacked airlines, the media and Democrats over the protests and criticism of his administration that emerged over the way he executed a ban on people from seven Muslim-majority nations entering the US. In a series of tweets and comments at the White House, Mr Trump tried to shift the blame for the chaos that ensued after more than 100 refugees and migrants from […]
European, Asian stocks and S&P futures all drop after traders were left with a sour taste from the potential fallout of Donald Trump’s order halting some immigration and ahead of central bank decisions from the U.S. and Japan. Markets in Hong Kong, China, Malaysia, Korea, Singapore, Taiwan and Vietnam are all shut due to the Lunar New Year public holiday, leading to a quiet Asian session. Oil […]
Monday 08:30 GMT Overview The dollar and Wall Street equity futures are under pressure after data last week showed slower than expected US growth and as traders digest President Donald Trump’s executive order to clamp down on people entering the US from seven predominantly Muslim countries. The sour tone is suppressing stock markets in Europe, though not lifting government bond prices or supporting gold to any great […]
Abu Dhabi 29 January 2017 His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, may Allah protect him, issued, as Ruler of Abu Dhabi, a law concerning the Abu Dhabi Government’s financial system. The law seeks to set a comprehensive regulatory framework for public financial resources to guarantee that government work is conducted within an institutional framework with a high level of transparency and […]
newslide Iranian director and crew may be banned from attending Oscars The motion picture academy says the possible visa ban of Iranian director Asghar Farhadi, whose feature film The Salesman is nominated for a best foreign language Oscar, is “extremely troubling.” In a statement released over the weekend, the Academy of Motion Picture Arts and Sciences expressed concern that Farhadi and his cast and crew may not […]
Despite the Trump administration’s chaotic start, there is one man who has every reason to thank the new US president — Haruhiko Kuroda, governor of the Bank of Japan. At a policy meeting this week, Mr Kuroda’s BoJ is set to edge upwards its growth forecasts for Japan, reflecting a Japanese economic outlook transformed by Mr Trump’s election and subsequent weakness in the yen. The US election […]
WASHINGTON/NEW YORK President Donald Trump’s order to restrict people from seven Muslim-majority countries from entering the United States sparked confusion and anger on Saturday after immigrants and refugees were kept off flights and left stranded in airports. In his most sweeping decision since taking office a week ago, Trump, a Republican, put a four-month hold on allowing refugees into the United States and temporarily barred travelers from […]
