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 […]
The expansion will involve additional lines, new machineries, equipment and new laboratory for Research and Development Major expansion plan set to triple manufacturer’s production capacity in 2017 years November 13, 2016 Rubber World Industries (RWI), the leading manufacturer of closed-cell rubber insulation ‘Gulf-O-flex’ in the Gulf and South East Asia and part of the international business conglomerate, the Shaikhani Group of Companies, announced that it is […]
Events November 18 Emirates Kids Marathon Sign up your children for the Emirates Kids Marathon, which aims to prevent obesity by inspiring kids to get involved in physical activities for a lifetime of healthy living. The event includes races of various lengths as well as fun activities such as face-painting, competitions and more. It’s open to those between the ages of 5 and 13, and will be […]
China Inc plans its first dollar sukuk issuance to tap a fourfold increase in Chinese funds that can invest in bonds overseas. Sichuan Development Financial Leasing Co plans to sell $300 million (Dh1.1 billion) of Islamic bonds via Singapore-based special purpose vehicle, Silk Routes Capital Pte, in December, according to sale adviser Silk Routes Financials. The deal is being done in the city-state because China doesn’t have […]
GREENSBORO, United States Honda Motor Co (7267.T) expects to ramp up production of business jets as part of its plan to expand in the growing industry, the head of the Japanese automaker’s aircraft operations said in the United States. The firm hoped to produce 80 business jets annually by March 2019, from up to 36 currently, Honda Aircraft Company CEO Michimasa Fujino told reporters at its plant […]
This all began in April, when Ferguson, a McDonald’s all-American, played in the Nike Hoop Summit in Portland, Ore. After the game, he said, his mother, Rachelle Holdman, delivered some unexpected news: A representative from an Australian team wanted to meet with them over dinner. Continue reading the main story At the time, neither Ferguson nor his mother knew that Australia even had a professional league. But […]
BERLIN A U.S. government regulator has started investigating Volkswagen’s (VOWG_p.DE) Audi brand over a reported discovery of a new cheat software device at the luxury carmaker, Bild am Sonntag reported, without citing the source of the information. The German weekly paper said a week ago that the California Air Resources Board (CARB) had this summer discovered cheating software in an automatic transmission Audi which is unrelated to […]
The US government has charged Autonomy’s former finance chief with a multimillion-dollar fraud before the UK software company’s disastrous $11bn sale to Hewlett-Packard in 2011. Federal prosecutors are seeking at least $7.7m in proceeds from Sushovan Hussain, a long-serving Autonomy executive, who they allege exaggerated its financial performance and misled investors, including HP during its due diligence process. Mr Hussain, who denies any wrongdoing, was indicted on […]
Berkshire Hathaway Inc (BRKa.N) shares posted one of their best weeks in years, soaring 9.5 percent and touching a record high, even though Chairman Warren Buffett’s choice for the White House, Hillary Clinton, was defeated by Donald Trump. The conglomerate’s Class A shares closed on Friday up $1,110 at $234,860, a day after surpassing their record set in December 2014. Its Class B shares did even better, […]
SAO PAULO The Brazilian unit of Ford Motor Co (F.N) plans to resume 24-hour production at its Camaçari, Bahia, plant, in a sign of optimism with Brazil’s economic recovery, O Estado de S. Paulo newspaper said on Saturday. About 400 workers who have been suspended since March, when Ford paralyzed the unit’s third shift, will return to the production lines, Estado said. Lyle Watters, Ford’s chief executive […]
DUBAI // A smart autonomous vehicle is being tested on Dubai’s Business Bay District by the Roads and Transport Authority (RTA) and Dubai Properties. The electric-powered vehicle is 100 per cent environmentally friendly and can travel for up to eight hours before needing a recharge. The vehicle can accommodate 10 people (six seated and four standing) and can travel at 10 kilometre per hour. The trial is […]
BEIJING China is greatly concerned about the European Union’s protectionist measures against Chinese steel products, the commerce ministry said on Saturday. “The Chinese side has expressed great concerns and worries about the EU’s trade protectionist tendency over steel,” the ministry said in a statement on its website. The ministry was responding to the EU’s latest decision to take temporary anti-dumping measures against imports of Chinese seamless steel […]
Before he was elected to be the next US president, Donald Trump had garnered the support of just one prominent billionaire in Silicon Valley: billionaire Peter Thiel, founder of PayPal and Facebook board member. The US technology industry had been shocked that one veteran from the Valley, which prides itself on liberal values, had supported, funded and even spoken for Mr Trump at his convention — and […]
By Catherine Cadell | SHENZHEN, China SHENZHEN, China Alibaba Group Holding Ltd (BABA.N) Singles’ Day festival posted a record 120.7 billion yuan ($17.73 billion) worth of sales on Friday, though the gala shopping day saw growth slow as Chinese shoppers searched for deeper discounts and lower pricetags. Amid fanfare and celebrity razzmatazz, sales on Alibaba’s platforms had raced to a billion dollars in less than five minutes […]
By Sumanta Dey | BENGALURU BENGALURU After Donald Trump’s unexpected victory in the U.S. presidential election, investors may refocus in the coming week on the health of the world economy and any signs that years of rock-bottom interest rates and fiscal austerity are coming to an end. Trump’s victory poses a major challenge to the conventional wisdom on the global economy, which for years has relied on […]
By Sinead Carew | NEW YORK NEW YORK The U.S. banking sector’s dramatic rally post Election Day is likely just a taste of bigger gains to come, as investors expect banks to reap huge benefits from rising interest rates and lighter regulation under a Donald Trump presidency. In recent years, bank stocks have been held back by heavy regulation and historically low interest rates which have sapped […]
Donald Trump has appointed Mike Pence, his running mate, to head his transition team as he prepares to start naming people to fill top posts in his administration. Mr Trump also appointed four members of his family, including his daughter Ivanka and her husband Jared Kushner, along with the financiers Anthony Scaramucci and Steven Mnuchin. The team will also include Stephen Bannon, his campaign chief executive, Reince […]
