The rout in commodities deepened with prices touching the lowest since 2002 as the prospect of higher U.S. interest rates sent gold tumbling. Raw materials are losing favor with investors as the dollar gains amid signals from Federal Reserve Chair Janet Yellen that the central bank may raise rates this year on the back of an improving U.S. economy. Higher borrowing costs curb the attractiveness of commodities […]
Crude slumped below $50 a barrel in New York for the first time in more than three months on speculation that Iranian shipments will climb, extending a global glut. West Texas Intermediate decreased as much as 1.9 percent. Iran will focus on regaining oil sales it lost due to sanctions regardless of the impact on prices, Oil Minister Bijan Namdar Zanganeh said in Tehran Monday. U.S. crude […]
Intel Q2 revenue drops 4pc to $13bn NEW YORK, 3 days ago Intel Corp reported that its net revenue fell 4.6 per cent to $13.19 billion during the second quarter of the year, edging past the average analyst estimate of $13.04 billion. Growth in the company’s data centers and Internet-of-Things businesses helped offset weak demand for personal computers that use the company’s chips. Shares of the world’s […]
INTERNATIONAL. Global investors have raised their holdings of cash significantly in response to a weaker global economic outlook, particularly in China, according to the BofA Merrill Lynch Fund Manager Survey for July. Overall, equity allocations are unaffected by the higher risk aversion, however. • Confidence in the global economy falls sharply: 42percent of investors expect strengthening over next year, down from 55 percent a month ago.• China heads concerns: […]
JERUSALEM — Israeli commentators have described this week’s Iran nuclear deal as a “personal failure,” a “stinging failure,” and a “colossal failure” for Prime Minister Benjamin Netanyahu. Yair Lapid, a rival who heads an opposition faction in Israel’s Parliament, called it “the greatest failure in foreign policy of any Israeli prime minister since the state’s establishment” and demanded his ouster. Mr. Netanyahu has framed his career over […]
A logo is pictured at Google’s European Engineering Center in Zurich April16, 2015. Reuters/Arnd Wiegmann/Files Google Inc on Wednesday unveiled a new feature called “Purchases on Google,” which allows shopper to buy items directly from mobile search ads. The eagerly awaited “buy” feature, which Google said it was testing with a few retailers, uses saved payment credentials from the user’s Google Account for transactions. Both Google and […]
A man looks at a smartphone at the Intel booth during the 2015 Computex exhibition at the TWTC Nangang exhibition hall in Taipei, Taiwan, June 2, 2015. Reuters/Pichi Chuang Intel Corp (INTC.O) reported better-than-expected quarterly results on Wednesday as growth in its data centres and Internet-of-Things businesses helped offset weak demand for personal computers that use the company’s chips. Shares of the world’s largest chipmaker, which also […]
They are as associated with London as Big Ben. They have a reputation for being as clean as a crumpet plate. And they are as recognizable as Parliament. And perhaps they should be, since they have been around for quite the while. Perhaps the best-known is the Austin FX4, which was made from 1958 to 1994. They also have a reputation for being all-black, but they do come in […]
UAE. Dubai continued to see steady supply growth during the first six months of the year, as performance within the residential and hospitality markets began to soften after a three year period of sustained growth, according to the Q2 2015 Dubai MarketView by global property consulting firm CBRE. According to the CBRE report, Dubai’s rental market continues to outperform the transactional market in 2015, although residential leasing […]
|By Matein Khalid| Last week was a roller coaster and the Nikkei Dow closed at 19,800. Abenomics has had a seismic impact on Japan’s economy, financial markets and banking system. The yen has fallen from 76 on the eve of the election in 2012 to 122 against the US dollar. Corporate profits have exploded. Land price rises, job growth, bonuses, capex and consumer spending have lifted Japan […]
Shiite fighters launched a rocket on Sunday toward Islamic State militants from the outskirts of Fallujah, in Anbar Province, Iraq. By OMAR AL-JAWOSHY and ANNE BARNARD July 13, 2015 BAGHDAD — The Iraqi government declared on Monday that it was beginning a major military operation to retake the western province of Anbar from the Islamic State, which occupies much of the area including its major cities, Ramadi and Falluja. It was […]
A Blackberry sign is seen in front of their offices on the day of their annual general meeting for shareholders in Waterloo, Canada June 23, 2015. Reuters/Mark Blinch/Files TORONTO BlackBerry Ltd named Carl Wiese as head of global sales on Monday, an appointment that comes at a critical juncture for the smartphone industry pioneer, which needs to spur top-line growth in order for its turnaround efforts to […]
M&A values reached during Q2 is belowits median level of the last six years. Mena M&A market hits three-year low in Q2 DUBAI, 12 hours, 18 minutes ago The Mena M&A market markedly regressed during the second quarter (Q2) of 2015, well behind its prolonged three-year revived activity, with the total value reaching only $3 billion, a report said. With the total number of completed deals on […]
Prices for German luxury cars in China are tumbling as the country’s stock market sell-off and worries about broader economic growth chill demand for auto brands that once commanded price premiums from affluent Chinese consumers. At Mercedes-Benz stores operated by a dealer group with nearly 200 multiple brand outlets, customer traffic at showrooms has dwindled markedly since mid-June, when a stock market slide that saw indexes plunge by […]
|By Matein Khald| During the 2008 post-Lehman financial meltdown, home prices in Dubai fell by 60-70 per cent and a generation of offplan flippers and leveraged investors/buyers (a mortgage, by definition, is a highly leveraged and speculative financial product. There is a reason the word “mortgage” derives from the French “mort” or death!) were wiped out. However, the Arab Spring, global liquidity and the successful debt restructuring […]
UAE. Core Savills, the largest commercial lease transaction and one of the leading international real estate companies in the UAE, is optimistic on the outlook for the Dubai real estate market. Research released today by the firm has suggested declining apartment and villas prices in the emirate since the market peaked late last year will stabilize during 2016 and return to growth later in the year or […]
The newest version of Apple’s mobile operating system is set for release this fall, but the company is — for the first time — offering the public a chance to take iOS 9 for a test drive. The public beta is now available for anyone to download, although Apple recommends that users first back up their devices and/or use secondary devices in case the preview OS has […]
Electronics giant Samsung is bleeding on the smartphone side, with seven straight quarters of decline. The company hopes to correct that in the quarter ahead by beating Apple to the punch. Samsung is set to roll out its next Galaxy Note phablet device in mid-August. That breaks the company’s release cycle, which usually sees new Note devices hit the market in September. The electronics giant needed to […]
Oil prices may fall further as the world remains “massively oversupplied,” before markets tighten in 2016 when output growth outside OPEC grinds to a halt, according to the International Energy Agency. There will be no overall production growth outside the Organization of Petroleum Exporting Countries next year for the first time since 2008, according to the IEA. Growth in U.S. shale oil supplies will stagnate to the […]
People queue outside an Apple store to buy the new iPhone 6 and 6 Plus in Beijing November 16, 2014. Reuters/Petar Kujundzic SAN FRANCISCO Apple Inc’s (AAPL.O) stock was heading toward its first five-session losing streak since January on Thursday as investors worried about the economic health of China, a key market for iPhones. Apple shares were down 2 percent at $120.15 in afternoon trade and have […]
On Thursday Microsoft released Office 2016 for Mac, the long-awaited productivity suite that integrates with Office 365, OneDrive, OneDrive for Business, and SharePoint so that users have access documents across personal and work accounts from their devices just by signing in with their Office accounts. A preview of Office 2016 was made available in March and elicited some 100,000 pieces of feedback from testers. The final version […]
|By Matein Khalid| De Gaulle dissed gold as a “barbarous relic” and Lenin sneered the yellow metal was fit only to “pave capitalist latrines”. So what? Gold has been an monetary metal in human history for centuries, back to the time of Pharonic Egypt, the Inca Empire, King Midas and the Spanish conquistadores of Mexico. While President Nixon removed the gold/dollar Bretton Woods linkage in 1971 and […]
UAE. The global sukuk market is heading toward a correction in 2015 after the Central Bank of Malaysia (BNM)–one of the largest issuers of sukuk worldwide–stopped issuing earlier this year, says a report published today by Standard & Poor’s Ratings Services. But as the report, titled “Global Sukuk Issuance Stalls In 2015 As Major Issuer Exits The Market,” points out, BNM’s move leaves the door open to […]
