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  Submitted by Jayant Bhandari via Acting-Man.com, India’s Currency Ban – Part VI India’s Prime Minister, Narendra Modi, announced on 8th November 2016 that Rs 500 (~$7.50) and Rs 1,000 (~$15) banknotes would no longer be legal tender. Linked are Part-I, Part-II, Part-III, Part-IV, and Part-V, which provide updates on the demonetization saga and how Modi is acting as a catalyst to hasten the rapid degradation of […]

The Turkish lira is climbing off its weekly lows this morning in the wake of the assassination of the Russian ambassador in Ankara on Monday and ahead of another key interest rate decision later today. At publication time, the lira has gained 0.35 per cent against the dollar to TRY3.5180 per dollar, having slumped to as low as TRY3.5340 in the aftermath of the shooting of Andrei […]

In a year replete with extraordinary political upheaval and the wrenching loss of artistic icons, the markets have played their part in contributing to the angst. Here is a look at some of 2016’s most notable one-day wobbles. China cracks It started badly. In China, the mainland’s benchmark, the Shanghai Composite index, had closed 2015 near a four-month high after bouncing nearly 21 per cent from its […]

If you are an emerging market investor, things at least look a little rosier than they did 12 months ago. Then sentiment was souring thanks to doubts about China’s economy, a slumping oil price and plenty of political upheaval. There is, of course, much to concern the EM universe going into 2017, notably a rising dollar, the prospect of higher interest rates in the US and president-elect […]

TOKYO Asian shares slipped to four-week lows on Monday as the prospect of higher U.S. interest rates and a strong dollar stemming from the incoming Trump Administration’s purported policies of cutting taxes and spending heavily threatened to suck capital out of emerging markets. European shares are seen having better luck, following recent gains in shares of banks, resource companies and some automakers. Spread-betters see a rise of […]

By Henning Gloystein | SINGAPORE SINGAPORE Oil prices rose on Monday in anticipation of tighter crude supply going into 2017 following the decision by OPEC and other producers to cut output to prop up prices. Brent crude futures, the international benchmark for oil prices, were trading at $55.57 per barrel at 0401 GMT, up 36 cents, or 0.7 percent, from their last close. U.S. West Texas Intermediate […]

While an overseas buying spree by Chinese companies has grabbed headlines, more mundane activity such as trade finance and corporate cash management are a much bigger strain on China’s foreign exchange reserves, analysis of official data shows. The dominance of bank lending and portfolio investment as a source of Chinese capital outflows casts doubt on whether Beijing’s recent clampdown on big-ticket foreign deals by the likes of Dalian […]

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Sunday, 18 December 2016 – Today, Phidar Advisory released its Dubai residential research note with November data, which is now reported using a 3-month moving average. The report shows that residential rents continue to decline and projects further declines. “The risk in the residential market remains on the downside,” said Jesse Downs, Managing Director of Phidar Advisory. “Weak investment demand and softening rents will push rates down […]

A series of big events shaped financial markets in 2016. Here is a selection of FT analyses and commentary, alongside charts, highlighting a tumultuous year. The new year rout January proved brutal for investors. After just 10 trading days, global equity markets had lost more than $4tn of value, with sentiment hammered by fears about China’s economic slowdown and a depreciating currency. In turn, bond markets were […]

Venezuelans are bracing for Christmas without cash after the country’s highest denomination banknote was withdrawn from circulation with new larger bills not due until January, as many fear that the country is spiralling towards hyperinflation. Embattled President Nicolás Maduro this week announced plans to scrap the ubiquitous 100 bolívar bill, which makes up about half the country’s banknotes but is increasingly worthless as annual inflation is forecast […]

By Corina Pons and Andrew Cawthorne | CARACAS CARACAS Venezuelan President Nicolas Maduro suspended on Saturday the elimination of the country’s largest denomination bill, which had sparked cash shortages and nationwide unrest, saying the measure would be postponed until early January. The surprise pulling of the 100 bolivar note from circulation this week – before new larger bills were available – led to vast lines at banks, […]

By MacDonald Dzirutwe | MASVINGO, Zimbabwe MASVINGO, Zimbabwe Zimbabwean President Robert Mugabe was confirmed on Saturday as his party’s sole candidate for the next presidential election in 2018, when he will be 94. Supporters at a party conference sang a song titled “Mugabe should rule until eternity” as the veteran leader rose to give a speech in which he called for an end to infighting within the […]

Dubai, 15 December 2016 At the end of October the new cryptocurrency Zcash was launched. It is positioned by its creators as a more secure alternative to Bitcoin. Soon after the launch, the price of Zcash coins skyrocketed, followed by a spike in the installation of the application used to generate Zcash on personal computers. In many of these cases, the app was disguised as something else […]

Shock is a matter of perspective and expectation. Imagine a time traveller stepped through the door a year ago and said the UK would vote to leave the European Union, a presidential candidate who advocated debt renegotiation would be headed for the White House, and Italy would reject the reforms of Prime Minister Matteo Renzi. Who would have predicted a worldwide bull market for stocks and bonds? […]

By Sam Forgione | NEW YORK NEW YORK The U.S. dollar edged lower against a basket of major currencies on Friday, but still held near 14-year highs touched after Wednesday’s Federal Reserve meeting, with profit-taking halting the greenback’s rally. The dollar index .DXY, which measures the greenback against a basket of six major rivals, was last at 102.900, not far from Thursday’s 14-year high of 103.560 but […]

By Anggy Polanco and Maria Ramirez | EL PINAL/CIUDAD GUAYANA, Venezuela EL PINAL/CIUDAD GUAYANA, Venezuela Small protests and looting broke out in some Venezuelan provinces on Friday due to lack of cash after the socialist government suddenly decreed this week that its largest banknote would be pulled from circulation in the midst of a punishing economic crisis. President Nicolas Maduro on Sunday gave Venezuelans a few days […]

China has ceded its status as America’s largest creditor nation to Japan after spending a large portion of its foreign exchange reserves to defend the renminbi. Beijing’s ownership of US Treasuries fell by $41.3bn to $1.12tn in October, according to data from the US Treasury released on Thursday — the sixth straight month of decline. Japan’s holdings fell by $4.5bn to $1.13tn for the same period. Thomas […]

Friday 08:00 GMT Overview Equity markets are steady, holding near recent highs, as the dollar’s bounce to a 14-year peak on expectations of a more hawkish Federal Reserve pauses for breath. Bond markets are calmer too after the recent battering that pushed yields to their richest in many months, while gold edges up. Hot topic The dollar and surging bond yields has been one of the biggest […]

YOKOHAMA, Japan Nissan Motor Co (7201.T) Chief Executive Carlos Ghosn said on Friday he expected the Japanese automaker to post record sales in 2017, which would be a strong year for the auto industry despite volatility in currency and commodity markets. Ghosn also said he was confident that U.S. trade policy under President-elect Donald Trump would continue to promote strong ties with Mexico, where Nissan operates production […]

CAIRO — Egypt said Thursday that explosive traces had been detected on the bodies of passengers retrieved from EgyptAir Flight 804, which plunged into the Mediterranean Sea in May and killed all 66 people on board. The announcement by the Civil Aviation Ministry offers the strongest suggestion yet that a bomb might have felled the airliner as it flew to Cairo from Paris. Previously, officials had focused […]

Friday 02:10 GMT Overview The US dollar has climbed to a 14-year high in the wake of the Federal Reserve’s decision this week to lift interest rates, putting pressure on Asian currencies and prompting caution among traders of regional stocks. Hot topic The dollar has been one of the biggest stories of the December quarter thanks to a more robust outlook for US inflation and growth. That […]

It has been touted as one of the most exciting Dubai mega-projects of recent years and has now come to fruition. The $735m Dubai Water Canal — carved out of land between Business Bay and Jumeirah — opened to the public last month, creating a water-bound ‘mini-Manhattan’ that flows from Downtown Dubai to the ocean. The 3.2km-long canal is the final segment of the Dubai Creek extension, […]

WASHINGTON/BEIJING China’s plan to punish a U.S. automaker accused of price-fixing is a sign of how Beijing could retaliate if President-elect Donald Trump upends decades of relations between the two nations. Trump’s assertion that the United States need not be bound by the policy that Taiwan is part of “one China” would erode a bedrock of U.S.-China ties that has underpinned the vast increase in trade and […]

The US dollar marched higher on Thursday, reaching its strongest level against the euro for more than a decade, after the US Federal Reserve signalled a more aggressive outlook for interest rate policy. Europe’s single currency was among the hardest hit, falling through the $1.04 level to trade at its lowest level since early 2003. Driving the dollar’s strength is a growing divergence between benchmark interest rates […]

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Just in:
Kochi police detain two actors over bid to honey trap doctor // Millions Of Indians May Soon Be Deprived Of Government Assistance // Technology shares plunge as Nasdaq enters correction // Emaar approves Development buyout ahead of planned delisting // TVM –Mangaluru Vande Bharat claims top spot // The “1st Greater Bay Area Health and Longevity Summit & Awards Ceremony” concludes successfully in Macao // Ta’ziz finalises $1.39bn funding for Ruwais industrial facilities // Private varsities bill all set to face the axe // e-Crime Bureau Signs Cybersecurity Partnership With Smart Africa, Reinforcing Its Global Expansion // OpenAI identifies 948 Linux privilege escalation flaws using AI // APT29-linked campaign exploits outdated Apple and Android software // Trump’s Iran War Has A Share Of Contribution To His Midterm Debacle // Oil advances towards $100 as tanker attacks persist // Xi Jinping Preparing For A Trilateral Summit With Trump And Putin At APEC Summit On Nov 18-19 // Meraas showcases five residential zones at Dubai Design Week // Fast Just Got Fastest: STING Energy Boost™ Celebrates Kimi Antonelli’s Formula 1® World Championship and the Fan Energy Behind It // Geely’s i-HEV Intelligent Hybrid Technology Offers a New Direction for Gasoline-Powered Vehicles // Emirates Group records AED 4.1 billion half-year profit // Dubai details five-year visa benefits for returning visitors // After Reaching 7 Million Users in the Philippines, Skyro Launches Transparent Cash Loans in Malaysia //