By Shinichi Saoshiro | TOKYO TOKYO The dollar rose to a nine-month high against a basket of major peers early on Monday, as a risk-on mood in global markets triggered by Donald Trump’s election to president remained firmly intact. The dollar index .DXY was up 0.4 percent at 99.428 after touching 99.445, its highest since Feb. 1. The greenback has strengthened as expectations that Trump’s administration would […]
|By Arabian Post Staff|Leading UAE bank FGB has launched the UAE’s first Wealth Sentiment Index, which measures the prevailing mood of affluent investors in the UAE market, from a personal and business point of view. The index will serve as an indicator of the overall sentiment of the market, based on existing fundamental and economic factors. The new index was launched during FGB’s fourth annual Investment Conference, […]
|By Arabian Post Staff|The online shopping experience in the Middle East will forever be changed with the launch of Noon in January. The region’s largest-ever ecommerce company, Noon will be a driver of innovation which will offer a vast product selection and fast delivery across all categories. With an initial investment of US$1 billion, Noon will launch in the UAE and KSA markets and will soon cover […]
By Chris Prentice | NEW YORK NEW YORK Facebook Inc chief executive Mark Zuckerberg again rejected the idea that the social network affected the U.S. presidential election, saying late Saturday it is “extremely unlikely” news hoaxes changed the outcome. Ensnared in a string of content controversies in recent months, Facebook has insisted that it is a technology company, not a media firm. But scrutiny of the site […]
|By Arabian Post Staff|The GCC has the potential to become the world’s fastest growing e-commerce playground, according to A. T. Kearney’s ‘Getting in on the GCC E-commerce Game’ report. Despite strong economic fundamentals, the GCC is one of the most underpenetrated e-commerce markets in the world. However, with high levels of disposal income, world-leading internet and smartphone penetration, and changing consumer preferences, there is robust potential in […]
SYDNEY The U.S. dollar touched a nine-month peak in Asia on Monday as the risk of faster domestic inflation and wider budget deficits sent Treasury yields ever higher, a painful mix for assets in many emerging market countries. The dollar bounded above 107 yen in brisk morning trade to hit 107.37 JPY=, while the euro touched its lowest since January around $1.0773 EUR=. It also made a […]
Financial professionals arriving at their desks on Monday morning will have no shortage of views to digest on what the shock election of Donald Trump means for global markets. Having had a few days to consider the implications, economists, market strategists and analysts have penned thousands of words for clients in recent days that attempt to set out what the future holds. As Jan Loeys and his […]
The Economic Wreckage The destruction in Yemen could cripple its economy long into the future, and it is unclear how the country will rebuild. Continue reading the main story “They have hit many factories on the basis of suspicion, but we never get the real reasons,” said Abdul-Hakeem Al Manj, a lawyer at the Sana Chamber of Commerce and Industry who is helping businesses document the strikes […]
By Richard Leong and Jennifer Ablan | NEW YORK NEW YORK Donald Trump’s stunning victory for the White House may mark the long-awaited end to the more than 30-year-old bull run in bonds, as bets on faster U.S. growth and inflation lead investors to favor stocks over bonds. A two-day thumping wiped out more than $1 trillion across global bond markets worldwide, the worst rout in nearly […]
MILAN The board of Banca Monte dei Paschi di Siena (BMPS.MI) will meet on Monday to set the terms for a bond-to-equity conversion that is part of the lender’s capital boosting plans, a source familiar with the matter said on Sunday. Italy’s third-biggest bank is planning to lay off a tenth of its staff, shut branches and sell assets to win investor backing for a 5 billion […]
Fear and loathing was the overriding sentiment of fund managers and analysts contemplating the market implications of an unlikely Donald Trump presidency. Instead we have seen hope and excitement as the reality sinks in. What changed? It’s been quite the turnround. The overwhelming finance industry view before Tuesday’s election was that the stock market would tank if Mr Trump triumphed. Going by how equities quivered every time […]
With a strong sustainability plan in place, TASNEEF will use CSR to encourage best practice and strengthen the UAE 2021 vision of excellence in both public and private sectors. Abu Dhabi – 14 November 2016 TASNEEF in cooperation with the joint venture TASNEEF Business Assurance has started to implement a Corporate Social Responsibility (CSR) system, in line with its strategic plans and CSR objectives, by various activities […]
By Patrick Rucker and Lisa Lambert | WASHINGTON WASHINGTON U.S. officials are striving to put finishing touches on a slew of banking rules before President Barack Obama leaves office and hands regulatory power to Donald Trump who has vowed to rewrite the existing financial rule book. President-elect Trump will take over on Jan. 20 and his fellow Republicans will have control of Congress and government agencies, allowing […]
Photo Members of the Iraqi police tried to pull a body from a mass grave discovered in Hamam al-Alil on Monday. Credit Ahmad Al-Rubaye/Agence France-Presse — Getty Images GENEVA — Islamic State militants have summarily killed scores of civilians in the Iraqi city of Mosul in recent days, sometimes using children as executioners, and have used chemical agents against Iraqi and Kurdish troops, United Nations officials said […]
Alia Khalifa Al Nabooda strikes a real balance – she’s an entrepreneur and mother-of-four, who puts in the time to be successful at both. Last year, the 32-year-old co-founded VoucherSkout, a 50 per cent discount app for services across the UAE. “We’ve had our struggles, like any start-up business. Things haven’t gone exactly to plan, but now that we’ve launched, we can see the fruits of our […]
By William Schomberg | LONDON LONDON Five months to the day after Britain voted for Brexit, its finance minister will outline how the government plans to cope with the economic fallout and voters’ frustrations which had echoes in Donald Trump’s U.S. election triumph. Philip Hammond, the Chancellor of the Exchequer, is due on Nov. 23 to announce spending and tax plans until the end of the decade […]
Here are the key questions we are asking at FT Markets ahead of the first full week’s trading after the US election — with the overarching theme being the repositioning across portfolios for president-elect Donald Trump’s transition into power. Emerging markets — remission, or further pain? The prospect of a faster-growing US economy is usually good news for emerging markets. When it comes with the risk of […]
The post-election rally that has reshaped global financial markets cooled off Friday, at the end of a week in which investors quickly adjusted to a president-elect who has promised to step up government spending and slash business regulation. The S&P 500 dipped 0.1 per cent on Friday in New York, while the Eurofirst 300 fell 0.6 per cent, paring back this week’s gains. The rapid change in […]
Leading Dubai businessman Mohamed Alabbar and Saudi Arabia’s Public Investment Fund (PIF) are teaming up to launch a Middle Eastern e-commerce platform. Investors are initially contributing $1 billion to the project, which will be 50 percent owned by the Saudi sovereign wealth fund, Alabbar told a news conference. The other 50 percent will be owned by Alabbar and other regional investors. Noon.com will launch operations in Saudi […]
Toyota Motor Corp (7203.T) has agreed to a settlement of up to $3.4 billion for a federal class action brought by U.S. owners of pickup trucks and SUVs whose frames could rust through, plaintiffs lawyers have said in court papers. The proposed settlement covers about 1.5 million Tacoma compact pickups, Tundra full-size pickups and Sequoia SUVs alleged to have received inadequate rust protection that could lead to […]
Even as global markets churned in the wake of Donald Trump’s stunning election win, the US Federal Reserve appeared to be sticking to its guns on monetary policy on Friday as one of its top officials laid the ground for a second increase in short-term interest rates. Stanley Fischer, vice-chair of the Federal Reserve Board, said in a speech that the case for gradually removing some more […]
ABU DHABI, UAE 13 November 2016 Aldar Properties PJSC (‘Aldar’), Abu Dhabi’s leading listed property development, investment and management company, has awarded the early works contract for the first phase of Mayan, a luxury residential development located on Yas Island, to Dutch Foundation & Concrete Rehabilitation Company WLL. The AED 30 million contract provides for shoring, piling and earthworks for Mayan’s 512 luxury apartments which are spread […]
NIA to increase aim to increase GREE’s market share to 20 per cent with sales of 175,000 units in the UAE Dubai, United Arab Emirates (November 13, 2016) NIA Limited, a Dubai-based enterprise dealing in Home Appliances and HVAC solutions, has opened a sprawling new headquarters in Jebel Ali Free Zone area. The brand new facility will function as the design, marketing and logistics centre for the […]
13 November 2016 Highlights Phase 1 of Dubai Parks and Resorts opened to paying visitors Phase 2 of Dubai Parks and Resorts on track with Six Flags Dubai due to open late 2019 Rebranding to DXB Entertainments completed Advertisement Raed Kajoor Al Nuaimi, Chief Executive Officer, DXB Entertainments, said, “The opening of LEGOLAND® Dubai and Riverland™ Dubai on 31 October to the public, was a great day for […]
