The Indian rupee hit a record low and shares slumped on Tuesday after parliament’s approval of a $20 billion plan to provide cheap grain to the poor renewed doubts about the government’s resolve to control spending ahead of elections due next year. The alarm over India’s fiscal deficit eclipsed an announcement by Finance Minister P. Chidambaram that the government had approved infrastructure projects worth 1.83 trillion rupees […]
The Dubai Economic Council (DEC) has signed a Memorandum of Understanding (MoU) with Deloitte Corporate Finance Limited for mutual cooperation. Hani Al Hamli, Secretary General DEC; and Humphry Hatton, Chief Executive Officer of Deloitte Corporate Finance, signed the MoU in the presence of the executive teams of both sides. Al Hamli stated, “We’re proud to have Deloitte Corporate Finance Limited as our partner, which comes in our […]
A programming error at Goldman Sachs Group Inc. caused unintended stock-option orders to flood American exchanges this morning, roiling markets and shaking confidence in electronic trading infrastructure. An internal system that Goldman Sachs uses to help prepare to meet market demand for equity options inadvertently produced orders with inaccurate price limits and sent them to exchanges, said a person familiar with the situation, who asked not to […]
A small number of well-established insurers are reaping the benefits of the fast-growing insurance markets in the Gulf Cooperation Council (GCC) region, Standard & Poor’s Ratings Services said in a review. Meanwhile, inflated valuations and a reluctance to relinquish control are preventing smaller insurers from consolidating. In trying to avoid reporting losses, we believe revenue-starved insurers could distort market pricing for all. Insurance in the GCC region continues […]
