Disappointment again… Early exuberance in stocks – as overnight gains suggested panic buying at the US open, faded rapidly as financials and tech faded and crude plunged (despite better than expected data)… then after NYMEX closed VIX was smashed lower and stocks lifted… S&P was best on the day, Trannies were red (thanks to Ford news impacting rails)… NOTE – stocks ripped at the open, […]
The government of Oman has approached banks for an international bond issue with tranches of five and 10 years as the country plugs a budget deficit caused by lower oil prices, banking sources familiar with the situation said on Tuesday. The sultanate has asked international lenders to submit proposals for a U.S. dollar debt transaction likely to be around $1 billion or more. Banks are expected to […]
|By Matein Khalid|“Few individuals alter the course of history. Fewer still change the map of the world. Hardly anyone creates a nation state. Mohammed Ali Jinnah did all three”. Dr. Stanley Wolpert’s words still give me goose pimples two decades after I first read his book. Mr. Jinnah founded Pakistan and was also my ancestral kinsman. I too was born in Karachi, the city by the sea, […]
To understand how Donald Trump will change America, don’t listen to his speeches, says Vox Editor-in-Chief Ezra Klein. Instead, look at the president-elect’s policies, he said. “This idea that Donald Trump exists in some state of quantum unknowability is going to end the day that he raises his hand and takes the oath of office,” Klein said. “So we need to change ourselves to give people coverage […]
Oman ORIX Leasing Company, a motor vehicle leasing firm, has successfully raised $25 million bilateral term facilities from regional banks. The term facilities were provided by BBK and the National Bank of Ras Al Khaimah and will be used by Oman ORIX to fund its leasing finance business. Alpen Capital, Oman acted as the sole financial advisor to the transaction, a statement said. Shahin Mohammed Ahmed Al […]
Expats living in India are the third-highest paid in the world, according to a survey from HSBC. The average salary of foreigners living in India was $145,057, the poll of almost 27,000 expats in 100 countries showed. Highest paid were foreign workers in Switzerland who got an average salary of $188,275, followed by Hong Kong at $169,756. Like Switzerland and Hong Kong, India has a financial hub […]
03 January 2017 Dubai, UAE – HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), received a high-level delegation from Kuwait National Petroleum Company (KNPC) at DEWA’s main office. The delegation was headed by Ahmad Al-Jemaz, Deputy Chief Executive Officer. The delegation included Dr. Suad Al-Radwan, Manager of Research & Technology at KNPC, Fahad Nouri, Manager of R&D at KNPC, Dr. […]
Seven months after the leak of 11.5 million documents from a law firm in an incident that has come to be known as the “Panama Papers”, the world is right to ask what has been done since to fight global tax evasion and promote financial transparency. As president of Panama, and in particular through my interactions with the international community, it is clear that the affair shined […]
JAKARTA Indonesia has penalized JPMorgan Chase & Co after the investment bank’s research arm recommended a smaller exposure to the country’s sovereign bonds, a senior finance ministry official said on Tuesday. “After we did a comprehensive review, we said no need to use JPMorgan’s services as a primary (bond) dealer and a perception bank,” Suahasil Nazara, the head of the ministry’s fiscal policy office, told Reuters. A […]
Funding activity for advertising technology start-ups has crashed to its lowest point in five years, underlining the struggle faced by the ad sector as Google and Facebookbecome dominant. Adtech, an umbrella term for companies that automate and facilitate the buying and selling of digital advertising, rose to prominence over the past five years, but appears now to be on the decline. The number of global adtech venture […]
Saudi Arabia’s Yamama Cement Company has secured 1 billion riyals ($266.6 million) in Islamic financing to partially fund the building of a new factory, it said on Monday. The three-year financing includes 750 million riyals from National Commercial Bank and 250 million riyals from Samba Financial Group, it said in the statement. The company signed a 4.2 billion riyal contract with Germany’s ThyssenKrupp Industrial Solutions in November […]
A stable UAE economy is likely to create “more” employment opportunities in 2017, according to employment website, Monster.com. The company’s statement follows a report issued by London-based Hays Recruiting which says over half of GCC workers were “considering leaving their current employer this year” and 14 percent of UAE employers were “short of the talent required to achieve 2017’s objectives”. Monster.com also referred to another study by […]
The awards celebrates the top global banks on their performance through the year. Saudi Arabia, 2 January 2017 Alawwal Bank won The Banker’s ‘Bank of the Year’ (Saudi Arabia) at a ceremony hosted in London, England. The award win caps off a momentous year for the bank and follows a series of award wins in 2016 including ‘Best Mobile Application for Banking’ and ‘Best Call Center’. The […]
Saudi Arabia’s gross domestic product (GDP), adjusted for inflation, grew by just 0.9 percent from a year earlier in the third quarter of 2016. This compared to the 1.4 percent growth seen in the second quarter, according to data from the Central Department of Statistics showed. The Q3 growth was the slowest recorded since 0.3 percent in the first quarter of 2013. The slowdown comes as Saudi […]
MANAMA, BAHRAIN – 02 January 2017 Ithmaar Bank B.S.C., a Bahrain-based Islamic retail bank, announced today (ed note: 020117) that it has obtained final approval from the Central Bank of Bahrain (CBB), the Kingdom’s banking and financial services regulator on the completion of all requirements with respect to the reorganisation plan. This aims to further develop the growth achieved in Ithmaar Bank’s core retail banking business, the […]
The UAE has moved up a global list of the best destinations for expats to enjoy a successful career while Bahrain is also in the world’s top 10 places to move to. The UAE now ranks as the fourth best destination after moving up two places on 2015 in the new data released by HSBC. Bahrain, ranked 10th, fell three places compared to last year’s list, while […]
Welcome to a new year and the pressing market issues facing investors as they look to put money to work and navigate 2017. Geopolitical surprises upended expectations last year and few predicted that 2016 would end with a global bull market in equities, while bond yields remain relatively low. Will strategists be any better at forecasting this time around? Here are the big questions that will preoccupy […]
These are the main events that took place in February 2016. 3 February The government proposed to completely repeal two articles in the Criminal Code which make it illegal to vilify religion “by words, gestures, written matter, whether printed or not, or pictures or by some other visible means. Another of the amendments proposed was to criminalise revenge porn. 3 February The government in […]
· Hamriya, Rashidya and Al Aweer branches added to the network of bank’s disability-friendly branches · Jumeirah branch to now offer Braille currency for its customers with visual disabilities · Emirates NBD’s #TogetherLimitless platform committed to transforming additional branches in 2017 and creating an inclusive community for people with disabilities in the UAE 02 January 2017 Dubai – Emirates NBD, a leading bank in the region, […]
In the last two months of the year, financial markets responded to the unanticipated election of Donald Trump in a textbook fashion — not only at the asset class level, with the major moves up in stocks and government yields, but also within asset classes as financials and the dollar surged. In doing so, they were responding to prospects for higher growth, inflation and market inflows following […]
Submitted by Federico Pieraccini via Strategic-Culture.org, The two previous articles have focused on the various geopolitical theories, their translations into modern concepts, and practical actions that the United States has taken in recent decades to aspire to global dominance. This segment will describe how Iran, China and Russia have over the years adopted a variety of economic and military actions to repel the continual assault on their sovereignty by the […]
By Christine Kim | SEOUL SEOUL Danish police have arrested the daughter of a woman at the centre of a South Korean influence-peddling scandal that has engulfed President Park Geun-hye, police and prosecutors said on Monday. The scandal has led to Park’s impeachment by parliament on December 9, paralysed the government and drawn hundreds of thousands of protesters onto the streets of the capital, Seoul, for weekly […]
Donald Trump’s Indonesian business partner, a billionaire developer and media mogul, has announced he might run for president in Indonesia’s 2019 elections. “If there is no one I can believe who can fix the problems of the country, I may try to run for president,” Hary Tanoesoedibjo told the Australian Broadcasting Corporation. “Not for myself, for the country,” he said, adding that the nation of about 260 […]
IHG receives Qatar Financial Markets Authority (QFMA) approval for IPO: Doha, January 1st, 2017 Investment Holding Group (IHG), one of the leading contracting and trading firms in the Qatari construction sector, today announced that it has received approval from the Qatar Financial Markets Authority (QFMA) to list 60% of the Group’s paid-up share capital through an Initial Public Offering (IP0), making it the first Qatari family business […]
