Photo President Hassan Rouhani of Iran, center, at a welcome ceremony earlier this month in Karaj, just west of Tehran, has said that his country will remain committed to a nuclear deal with the United States and other world powers. Credit Office of the Iranian Presidency, via Associated Press TEHRAN — At first blush, the election of Donald J. Trump would seem to be bad news for […]
The head of a leading Russian sovereign wealth fund has hailed Donald Trump’s election victory as a new opportunity for Moscow to do business with the US. “We believe having a businessman in the White House who makes pragmatic decisions is very important,” Kirill Dmitriev, chief executive of the state-run Russian Direct Investment Fund, told the Financial Times in an interview. “We believe what is great about […]
Three Abu Dhabi banks denied they were in merger talks on Sunday, sending their share prices lower as investor hopes of a shake-up in the banking sector were dashed. Abu Dhabi Commercial Bank (ADCB), Union National Bank (UNB) and Abu Dhabi Islamic Bank in separate statements to the bourse each denied they were involved in merger plans. Shares in the lenders had been suspended earlier on Sunday […]
TOKYO Asian shares were on the defensive on Monday, undermined by fears that the strength in the U.S. dollar and rising U.S. bond yields since Donald Trump’s election to president could accelerate fund outflows from emerging markets. MSCI’s broadest dollar-based index of Asia-Pacific shares outside Japan .MIAPJ0000PUS dipped 0.1 percent, staying near four-month lows. In local currency terms, many markets are up slightly. Japan’s Nikkei .N225 rose […]
The Malaysian central bank’s moves to curb what it describes as “speculative and damaging” offshore trading in the ringgit are causing disquiet among investors and raising concerns about the regulator’s handling of the markets. Bank Negara Malaysia has asked foreign banks to commit to stop trading the ringgit — Asia’s worst-performing currency against the US dollar in 2015 — in the offshore non-deliverable forwards market. Malaysian debt […]
Ending the kinds of offshore abuses revealed by the Panama Papers scandal requires a global solution led by the United States and Europe, a report released today by Nobel Prize-winning economist Joseph Stiglitz and Swiss anti-corruption expert Mark Pieth says. The 25-page report, “Overcoming the Shadow Economy,” argues that, as “economic leaders,” the U.S. and the European Union “have an obligation to force financial centers to comply […]
Here are the questions being asked at FT markets as a new trading week begins after the pronounced swings in equities, bonds and currencies that followed Donald Trump’s election victory in the US. Are the dollar bulls running too fast? When currencies start motoring, forget speed limits. The dollar has accelerated markedly since election day. Pressure on emerging markets is rising, while the euro slid through $1.06 […]
Qatar could see an increase in interest rates next year as the central bank follows the US in its “gradual tightening cycle” in the coming months, according to new research. The QCB is likely to follow the US Federal Reserve in its strategy, hiking interest rates by 25 basis points (bps), or 0.25 percent, in 2017, BMI Research said. The expected increase will bring the policy rate […]
(Reuters) – Insurer American International Group, or AIG, is looking to move into residential property loans with plans to make what company representatives called direct investments in mortgages, the Financial Times reported Sunday. Reuters
The Central Bank of Bahrain (CBB) could be allowed to ban the charging of additional fees on the transactions of credit card users. The parliament will discuss introducing the new draft law during its weekly session on Tuesday, reported Gulf Daily News. The law would authorise the bank to implement regulations that protect customers of financial institutions. In October 2015, the UAE’s Ministry of Economy also proposed […]
Donald Trump’s plan to shake up Washington is facing a daunting obstacle — a security clearance system already struggling because of reorganisation and a half-million strong backlog. An influx of fresh faces is what Mr Trump’s voters, disgusted by Washington insiders, want from the new president. But many newcomers to government will be confronted by their first clearance investigations. Others could have overseas ties that must be […]
FRANKFURT Deutsche Bank has cleared its chairman of accusations by shareholders that he was partly to blame for the bank’s poor cooperation with authorities over alleged rate-rigging, daily Sueddeutsche Zeitung has cited financial sources as saying. Last year, Deutsche Bank agreed to settle a case over the alleged manipulation of interbank rates such as Libor for a record $2.5 billion with U.S. and British authorities, which had […]
Our round-up of the week’s best comment and analysis from the Financial Times focuses on how Donald Trump’s election produced an abrupt change of mood in the markets and examines which assets will now benefit. The selection is taken from our Markets Insight and Smart Money columns, written by industry contributors and FT commentators. Was there a financial markets equivalent of the “shy” Trump supporter to explain […]
Everywhere you look these days, it seems someone is talking about innovation. Whether at work or at home, when travelling, shopping or ordering a taxi, innovation is making our lives easier, reducing our impact on the environment and saving us money. As a result, it has become a career buzzword and young people across the region increasingly want to get involved and make an impact on their […]
By David Henry | NEW YORK NEW YORK JPMorgan Chase & Co is once again facing questions about who will succeed its larger-than-life chief executive after Jamie Dimon was courted by the incoming U.S. president for the role of Treasury secretary. Dimon, 60, has been running the largest U.S. bank for more than a decade and has faced questions about his longevity in the role before: when […]
A protest rally in Malaysia against the government of Najib Razak — who is fighting allegations of grand corruption linked to a troubled state investment fund — brought thousands onto the streets of Kuala Lumpur but also spurred a widening official crackdown. Although Saturday’s rally passed off peacefully, 15 activists and opposition politicians have been arrested on charges which human rights campaigners described as “manufactured”. The charges […]
India’s government is taking a hardline stance over renewing a trade deal with the Netherlands just days before it expires, which European officials warn could undermine business ties with the rest of the EU. The bilateral investment treaty between the two countries will end on November 30 — the first in a succession of such agreements that New Delhi has decided to terminate as it looks for more […]
RIYADH, SAUDI ARABIA : 20 November 2016 Thomson Reuters announced today that it was selected as benchmark administrator and calculation agent for the Saudi Arabian Interbank Offer Rate (SAIBOR). The appointment is part of an agreement with the Saudi Arabian banking industry. The arrangement is authorised by the Saudi Arabian Monetary Authority (SAMA), as part of its regulatory mandate over the banking sector, where this initiative will […]
By Samuel Shen and John Ruwitch | SHANGHAI SHANGHAI Scores of Hong Kong-listed companies – many small – are on a roadshow blitz in China to whet the appetite of mainland investors ahead of the launch of a cross-border investment link between Shenzhen and Hong Kong. Mainland investors are enthusiastic, viewing the cross-border channel as a way to buy relatively cheap growth companies and hedge against a […]
The organizers pressed ahead because holding the races near the large population of the Northeast corridor could pay dividends in revenue and attention. And if Killington’s gamble succeeds, it could set the stage for the region to become a fixture on the World Cup circuit. Continue reading the main story It is hardly a sure thing. Climate change has already troubled elite ski racing for several years […]
After everyone from Jesse Jackson, to the terrified mainstream media to prominent Congressional Democrats have called upon Obama to issue a blanket pardon for Hillary Clinton, he finally admitted that it’s not possible to pardon someone who hasn’t yet stood trial for a crime. And while Obama was referencing a potential pardon of Edward Snowden with his comments, one could assume that the law should be applied […]
19 November 2016 Doha, Qatar: Commercial Bank, Qatar’s first private bank, is proud to announce it has won the “Best Cash Management Bank in Qatar” award at The Asian Banker Middle East & Africa Transaction Banking Awards 2016, held in Dubai. The Asian Banker is an authoritative provider of strategic business intelligence to the Asian financial services community. Judged by an international board of advisors, applicants were […]
China’s domestic stock markets look set to be denied entry into international benchmarks for the fourth year in a row next year unless Chinese regulators remove “major obstacles” before June. Dimitris Melas, head of equity research at MSCI, provider of the benchmark MSCI Emerging Markets index, gave a downbeat assessment on Thursday of the prospects for China’s A-shares to be included in the index next year in […]
Iuna Al Hashemi remains remarkably calm as she discusses the “very challenging” business year for Bahrain’s national telco, Batelco. Once a monopoly, Batelco is now facing a crowded market, with strong competition from Kuwait’s Zain and Saudi Telecom Company-owned VIVA, as well as about ten internet providers for 1.4 million residents. Current economic conditions are making it increasingly difficult to keep up margins. Batelco Group, the […]
