Thursday 02.10 GMT Overview Asian equities regained upward momentum after comments from Federal Reserve chair Janet Yellen gave wings to a broad recovery for the dollar, weakening regional currencies. Hot topic The dollar index, which measures the US currency against a basket of peers, was up 0.4 per cent after the Fed chair warned that if the US waited too long to continue raising rates, it risked […]
While ECB President Mario Draghi may sound slightly hawkish at tomorrow’s press conference after an unexpectedly strong acceleration in CPI in December and European economic growth modestly picking up, the ECB is set to argue on Thursday that its extra-easy policy stance is still needed to keep the recovery on course. As a result, it is all but certain to leave current monetary policy in place and […]
Blockchain has moved on from its Bitcoin past and is being touted as an effective and inexpensive way to safeguard data, with one Singapore-based vendor launching its first blockchain-based authentication tool. Because it provides a shared replicated “immutable” ledger, blockchain can facilitate a “single source of truth” and a secure, tamper-proof system of record, according to Alan Lim, Asean practice lead for IBM Blockchain and Bluemix Garage. […]
China cut its holdings of US Treasuries by $66bn in November, reducing its position in the safe-haven debt to the lowest level since 2010 as the country battles to stabilise its currency. The acceleration in sales — the largest monthly decline since December 2011 — threatens a rise in US interest rates if it continues and follows an unwinding in October that saw China cede its position […]
Via ConvergEx’s Nicholas Colas, Want to know why US stocks feel so fragile? Perhaps we can blame Wall Street analysts. Even after two months of market buzz about lower taxes, infrastructure spending and less regulation juicing investor expectations for better earnings growth, they refuse to bump their revenue or earnings estimates for 2017. Our monthly look at revenue expectations for the companies of the Dow […]
Mumbai: The government is continuing its efforts to retrieve money stashed away illegally in foreign banks, including those in Panama, even as it hunts black money evaders at home. A team of tax officers and other civil servants visited Panama and some other key jurisdictions for tax information exchange in December, said two with people direct knowledge of the matter, requesting anonymity. “The government is targeting that […]
The sole Republican commissioner at the main US derivatives regulator has thrown his hat in the ring to be appointed the next chairman, even as he embraced aspects of financial reforms that Donald Trump’s team wants dismantled. Christopher Giancarlo, of the Commodity Futures Trading Commission, is set to assume the job of acting chairman after Mr Trump’s presidential inauguration on Friday, replacing Tim Massad, the sitting Democratic […]
Janet Yellen, the Fed chair, has warned that the US risks a “nasty surprise” if it waits too long to continue raising interest rates, adding that she expects the US central bank to tighten monetary policy a few times a year until 2019. But on the cusp of Donald Trump’s inauguration as an economy-focused president, she also said slow productivity growth meant the US’s “usual” rate of […]
Net profit of QAR 427 million by the end of 2016 Total Assets rose by 7% to QAR 60.6 billion Loans and Advances grew by 5% to reach QAR 35.2 billion by the end of 2016 Deposits reached QAR 32.2 billion, up 4% from the previous year Doha, January 18, 2017 Al Khalij Commercial Bank (al khaliji) P.Q.S.C, in Qatar, released its consolidated financial statements for the […]
US financial stocks have come under pressure since the start the year, denting a sharp rise that began after the election, in the latest sign that the Trump trade has begun to run out of steam. The S&P 500 financial sector has fallen 1.1 per cent since the end of 2016, bucking the broader index that has risen by 1.4 per cent. While the financial index was […]
NEW YORK General Motors Co has agreed to pay $1 million to resolve a U.S. Securities and Exchange Commission accounting case related to a faulty ignition switch linked to 124 deaths and 275 injuries, the regulator announced on Wednesday. The SEC said the deal would resolve charges that accounting control failures at the automaker prevented GM from properly assessing the potential financial impact of the defective ignition […]
FRANKFURT Deutsche Bank (DBKGn.DE) expects a negative impact of $1.2 billion on its fourth-quarter pretax profit from a civil monetary penalty of $3.1 billion agreed with the U.S. Department of Justice, its chief executive said in a message to staff. Germany’s biggest bank on Tuesday finalised a $7.2 billion settlement with the DoJ over its sale of toxic mortgage securities in the run-up to the 2008 financial […]
New stock trading allegations are set to cast a shadow over Tom Price’s confirmation hearing as health secretary on Wednesday, as Senate Democrats prepare to do battle over Donald Trump’s latest cabinet picks. On Wednesday Senate Democrats and Republicans will question Mr Price, a sitting Republican congressman, over his fitness for the health role and his plans for repealing and replacing Obamacare — a key policy agenda […]
Wednesday 02:20 GMT Overview Currency movements once again dominated trading in Asia as markets reacted to UK Prime Minister Theresa May’s Brexit blueprint and unexpected criticism of the dollar’s strength from US president-elect Donald Trump. Hot topic The dollar index, which measures the US currency against a basket of peers, was up 0.1 per cent at 100.470. It fell 0.8 per cent on Tuesday after comments from […]
Abu Dhabi Investment Authority (ADIA), one of the world’s biggest sovereign wealth funds, sees investment opportunities in China’s fixed income and real estate markets, as well as smaller Chinese companies, its managing director told China Finance. ADIA, which has been investing in China for 25 years, has its largest exposure in listed equities, including a $2.5 billion allocation to the China A market, which lists shares denominated […]
By Alex Dobuzinskis and Dana Feldman | LOS ANGELES LOS ANGELES One of about a dozen women who previously accused President-elect Donald Trump of making unwanted sexual advances filed a lawsuit against him in New York on Tuesday, alleging he had made false and defamatory statements about her in rejecting the accusation, causing her emotional and economic harm. The lawsuit filed by Summer Zervos, a one-time contestant […]
A much delayed surveillance system to monitor trading in the world’s largest equity market took a big leap forward on Tuesday with the selection of the group to build and operate the project. Founded in 2009, Thesys Technologies, a trading technology provider, beat out the Financial Industry Regulatory Authority and SunGard Data Systems. Called the “Hubble telescope” by one regulator, the so-called Consolidated Audit Trail, or CAT, […]
By Caroline Valetkevitch | NEW YORK NEW YORK U.S. stocks fell on Tuesday as financials and other big post-election gainers lost ground. Biotech and pharma stocks declined after President-elect Donald Trump said in a Washington Post interview over the weekend that he would target companies over drug pricing and that he was ready to unveil a plan to replace Obamacare. The Nasdaq biotech index .NBI was down […]
Donald Trump has threatened to overturn two decades of US economic policy by questioning the strong value of the dollar, raising fears that his presidency could set off a new round of currency wars between the world’s major economies. On Monday the president-elect appeared to break from the longstanding “strong dollar” policy of successive administrations, declaring that the currency was too high and that this was preventing […]
TOKYO Nearly six years after Noriko Matsumoto and her children fled Japan’s Fukushima region, fearing for their health after the worst nuclear disaster since Chernobyl, they confront a new potential hardship – the slashing of vital housing subsidies. Matsumoto is among nearly 27,000 people who left areas not designated as mandatory evacuation zones, spooked by high levels of radiation after nuclear meltdowns unleashed by a powerful […]
Blume was working on a letter to a man who was angry about being profiled by the police in his community. She showed me some of Obama’s handwritten comments in the margins. He had underlined sentences and added exclamation points; the words he wrote were sparse, but Blume understood the code. “See?” she said. “You can break down the sections of his thoughts: I’m mad, too. My […]
17 January 2017 Doha, Qatar – The Qatar Financial Centre Regulatory Authority (“QFC Regulatory Authority”) has been approved as a full signatory to the International Organisation of Securities Commissions (“IOSCO”) Multilateral Memorandum of Understanding Concerning Consultation and Cooperation and the Exchange of Information (“MMoU). The approval of the QFC Regulatory Authority as a signatory to the IOSCO MMoU comes after a rigorous screening process of the applicant’s […]
By Henning Gloystein | SINGAPORE SINGAPORE Oil dipped on Tuesday on lingering concerns over global fuel oversupply due to rising U.S. output and doubts that OPEC and other producers would adhere to commitments to cut output in an effort to balance markets and prop up prices. Brent crude futures, the international benchmark for oil prices, were at $55.55 per barrel at 0643 GMT, down 31 cents from […]
Facebook is throwing its weight behind French tech by choosing Paris to launch its first official start-up incubator, as the battle heats up among European capitals to lure the best tech companies following the Brexit vote. The social media giant announced on Tuesday it had become a founding partner in Station F, a €250m start-up campus in central Paris that is set to be the largest in […]
