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Cofco, China’s powerful state-controlled grains company, is set to appoint the former chief executive and deputy chair of agricultural trader Louis Dreyfus Company as a non-executive director for its international agricultural trading arm. Serge Schoen, who resigned from the LDC board last year, is poised to become one of Cofco International’s four non-executive directors on the company’s 10-person board. His appointment comes as questions have been raised […]

08 May 2017 Qatar Islamic Bank (QIB), Qatar’s leading Islamic Bank, signs a US$ 925 million (QR 3.4 billion) structured Shari’a compliant financing facility with Gulf Drilling International Limited QSC (GDI). This new facility will be used to re-organize the company’s debt and further enhance its operational and financial performance. QIB successfully originated, structured and executed the transaction which used an innovative financing structure to meet the […]

By Muyu Xu and Ryan Woo | BEIJING BEIJING The Chinese capital is sanitizing its ancient hutong alleyways, home to millions of migrants workers and thousands of small businesses, bulldozing illegal constructions and forcing shops, bars and tiny courtyard restaurants to relocate or go under. As part of guidelines unveiled in April, authorities have started to brick in doors of properties along the narrow passageways, many of […]

Doha, Qatar – 7 May, 2017 Qatar Islamic Bank (QIB), Qatar’s leading Islamic Bank, was awarded the Product Innovation Award under the Islamic Finance category from Global Finance. The award recognized QIB’s efforts in introducing innovative sharia compliant products that meet customers’ needs by providing them with long-term deposits with flexible profit payment options. The long-term deposits, with flexible profit payment options and higher expected yields, give […]

After nearly three years on the lam, Italian fugitive Giuseppe Donaldo Nicosia — whose lavish spending of allegedly stolen money was laid bare in the Panama Papers — has been arrested in Ukraine. Police in the Black Sea port of Odessa captured Nicosia on April 18, acting on a request from Italy’s financial police and Interpol, Italian prosecutors said in a statement. A video released by Ukraine’s […]

By Noah Barkin and Leigh Thomas | BERLIN/PARIS BERLIN/PARIS After a decade of slow growth, rising unemployment and dwindling competitiveness, France elected a president on Sunday who says he has a plan to pull the country out of its economic malaise.     Emmanuel Macron, a former investment banker who quit the government of Francois Hollande twice out of frustration with the slow pace of reforms, is promising […]

A MEMBER of the powerful Commission on Appointments (CA) on Sunday prodded Senate President Aquilino Pimentel 3rd to investigate President Rodrigo Duterte’s claim that the panel rejected the appointment of Regina Lopez as Environment Secretary because of “lobby money.” Rep. Josephine Ramirez-Sato of Occidental Mindoro said Pimentel, the chairman of the CA, should probe the bribery allegations against members of the appointments body and mete out appropriate […]

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In a week that started with big oil and US shale producers trumpeting their ability to thrive in a world of $50 a barrel crude, the market had a very quick response: let’s see if you can do it at $45. A brutal sell-off across commodity markets this week has quickly taken the shine off strong first-quarter results that would otherwise have been viewed as a triumph […]

The Federal Reserve risks political interference and losing its independence if it maintains a large balance sheet in the longer term, former Fed officials have claimed, as debate over the central bank’s strategy for unwinding its interventions in financial markets intensifies. Kevin Warsh, a visiting fellow at the Hoover Institution at Stanford University and former Fed governor, said permanently holding vast quantities of assets like treasuries was […]

Results exceed analyst expectations; backed by strong Air Arabia passenger demand and ongoing cost control measures Sharjah, UAE; May 07, 2017 Air Arabia PJSC today reported strong financial results for the first quarter of 2017 exceeding analyst expectations, as the Middle East’s first and largest low cost carrier continued to deliver solid commercial and operational results.   Air Arabia reported a net profit of AED103 million for […]

While 42.1 per cent believe that the Prime Minister is implicated in the Panama Papers scandal, half of respondents in the latest edition of The Malta Independent’s iSurvey still believe that he should not resign. Respondents were asked two distinct questions: Do you believe the Prime Minister is implicated in the Panama Papers? Should the Prime Minister resign over the allegations of his wife’s […]

An eerie calm in capital markets is fuelling fears on Wall Street that a first-quarter rebound in trading revenues could prove a one-off. Big investment banks reported generally solid profits over the first three months of the year, as investors reset their portfolios to take account of higher base interest rates, and as companies front-loaded efforts to raise money. For all bar four of the top 14 […]

Rights issues conducted by European companies this year have already exceeded the volume seen in the whole of 2016 — driven by a handful of large capital increases from banks seeking to repair their balance sheets. For companies, a rights issue is a means to raise equity funding from existing shareholders by offering them the right to buy more shares at a discount to the market price. […]

Monday UN focus on migrants The UN will meet in Geneva to address the “human rights of all migrants, social inclusion, cohesion and all forms of discrimination, including racism, xenophobia and intolerance”. Organisers say they are working towards an ambitious global policy on migration, an issue high on the political agenda after the Mediterranean migrants’ crisis and US President Donald Trump’s clampdown on migration into the US […]

PARIS Voting stations opened in France for the second round of the presidential election, with opinion polls indicating Emmanuel Macron was likely to beat Marine Le Pen. Macron wants to deregulate the economy and deepen European Union integration, in contrast to the anti-EU and anti-immigration National Front candidate Le Pen. Forecasts proved to be accurate for the presidential election’s first round last month and financial markets have […]

Invesco’s move to snap up Source, the London-based exchange traded fund provider, has thrust the US asset manager into the centre of an increasingly ferocious battle across Europe’s passive investment industry. European fund managers now face another formidable US competitor in addition to the existing heavyweights BlackRock and Vanguard, which are pursuing a cut-throat ETF price war as they expand their presence in Europe. Atlanta-based Invesco already […]

By Jonathan Cable | LONDON LONDON The fate of the European Union and the euro could hang on the outcome of Sunday’s French presidential election. The expected victory of centrist, pro-EU candidate Emmanuel Macron would be taken by markets as a sign that political risk in Europe is receding; a surprise win for far-right candidate Marine Le Pen would raise the risk that the euro zone’s number […]

Shifti­ng of cases from FBR HQ to ‘inexpe­rience­d’ field format­ions raises eyebro­ws PHOTO: AFP ISLAMABAD: After a one-year hiatus, the government has shifted over 400 cases against persons named in the Panama Papers from the Federal Board of Revenue (FBR) Headquarters to its field formations, raising concerns that the authorities intend to bury the issue like many other high-profile cases. The decision shows that the federal government has […]

May 7, 2017 by: Harriet Agnew and Michael Stothard in Paris The French go to the polls on Sunday to vote for their next president in a run-off election where they will pick between independent centrist Emmanuel Macron and Front National leader Marine Le Pen. They face a choice between two radically different visions for the eurozone’s second-largest economy. Mr Macron, a 39-year old rookie politician whose […]

Wall Street people underestimated how nasty and political the struggle over the post-Brexit fate of European clearing houses would become. This week the European Commission offered threats to London-based clearing houses and inducements for their customers to move their trade to the EU. €650bn Value of euro-denominated trades that clear through London each business day UK negotiators in turn demand that euro derivatives clearing should stay in […]

Apple and Amazon, rivals in the technology and home entertainment industries, may finally be friends again as reports claim that an Amazon Prime Video app will soon be launched for the Apple TV. The move will end one of the biggest problems that users have with the Apple TV. Amazon Prime Video On Apple TV According to a report by Recode, people familiar with the matter revealed […]

A corner of Wall Street has been gripped by the unknown identity of a trader that has been buying up Vix call options priced at 50 cents each, swelling to account for nearly 10 per cent of the listed market. The FT has now reported that bankers with knowledge of the trades say the so-called “50 Cent” – a reference to the American rapper known for his […]

The U.S. job market saw a strong rebound in April, driving the unemployment rate to the lowest level in a decade. The economy saw 211,000 jobs added in April, according to new government data released on Friday, May 5. The job market boost dropped the unemployment rate to 4.4 percent, the lowest level since May 2007. The latest stats should calm some fears about the state of the […]

This post is a fictionalised thought experiment. YOU and YOU ALONE are in charge of what happens in this story. There are trade-offs, choices, and consequences. YOU must use all of your B.S.D. talents and much of your intelligence. Good luck. So… You’re the head of a trading desk, and you’ve felt a bit frustrated of late. Your desk trades government securities issued by the world’s largest […]

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