For much of the last decade the derivatives industry has been caught in the gravitational pull of the Dodd-Frank act, the sweeping piece of legislation meant to contain the risk of another financial crisis. Six years after its passage, US president-elect Donald Trump wants to dismantle the law. The industry, however is not racing to join him. At this week’s Global Financial Leadership Conference, a gathering of derivatives traders, […]
November 17, 2016 by: Anjli Raval, Oil and Gas Correspondent Worries are growing that a build-up of unsold oil off the coast of the UK will keep prices down as the broader market surplus increases pressure on Opec to cut production. Industry analysts and shipbrokers said an excess of light sweet crudes, has led to a surge in the number of Aframax tankers — which carry around […]
Abu Dhabi Education Council’s (ADEC’s) sixth Abu Dhabi Science Festival (ADSF) is officially underway after it was opened today by Sheikh Nahyan Bin Zayed Al Nahyan, Chairman of Abu Dhabi Sports Council, accompanied by Saeed Eid Alghafli, Chairman of the Executive Office and a member of the Executive Council, Dr. Ahmed Mubarak Al Mazrouei Secretary-General of the Executive Council, Rt. Hon. Donald Wilson, Lord Lieutenant and […]
Held in Bangkok, Thailand, the conference theme for 2016 is “Collaboration in the Digital Economy” and featured sessions on collaborative regulation, smart sustainable cities, fostering SME innovation, gender inclusive development and digital financial services for financial inclusion LAGOS, Nigeria, November 17, 2016/ Nigeria’s government and private sectors have made a pitch to foreign investors at the 2016 International Telecommunication Union conference, Telecoms World, where they presented the […]
Rising market expectations for growth and inflation were not the only things behind the selling pressure on US Treasuries after the US election. One gauge of long-term Treasury market risk known as the term premium has also climbed. The day after the election of Donald Trump as the next US president, the 10-year term premium made its biggest single-day jump since 2011. The move was within the […]
Photo Nusra Front fighters in Idlib Province, Syria, in 2015. In what analysts say is a calculated move to hide ties to Al Qaeda, the Nusra Front recently rebranded itself and changed its name to Jabhat Fath al-Sham, or the Levant Conquest Front. Credit Ammar Abdullah/Reuters American officials accuse him of being part of the “inner leadership circle” of Al Qaeda’s Syrian affiliate, most widely known as […]
17 November 2016 Ashurst has advised Saudi Arabian client Delta Marketing Company on the agreement to dispose of its bottled water division, to Abu Dhabi-based Agthia Group. Corporate counsel Chris Young led the transaction for Delta, with Saudi law advice provided by Jeddah-based partner Dr. Faisal Baassiri. Dr. Faisal Baassiri said: ‘We are delighted to have supported our long-time and valued client Delta Marketing on this transaction. […]
Amid all the attempts to guess what Donald Trump’s election means for Europe’s trade, security and populist politicians, one conclusion stands out: his administration may be good news for the European Central Bank. The reason is not any particular act by the president-elect; rather, it is the reaction of markets, which could help the European economy and give the central bank more room to act. Foreign exchange […]
Saudi Arabia’s Public Investment Fund (PIF), its main sovereign wealth fund, said on Thursday it had filled key posts as part of plans to expand investment capacity and help reduce the kingdom’s dependence on oil income. Under economic reform plans announced early this year, the government has said it aims eventually to expand the PIF, founded in 1971 to finance development projects in the country, from $160 […]
JPMorgan has agreed to pay $264m to settle a US probe into its employment of well-connected Chinese “princelings” to win business. The settlement, expected to be announced on Thursday, would be the first to arise from a Securities and Exchange Commission inquiry launched in 2013 to determine whether bank hiring practices breached the US Foreign Corrupt Practices Act. The 1977 law bans companies from paying bribes to […]
Cambridge, November 17, 2016 The 2nd Islamic Retail Banking Awards (IRBA) ceremony is scheduled to be held in Dubai on November 28, 2016. Organised by Cambridge IF Analytica, a UK-based financial think tank, IRBA was first launched in 2015 to recognise, reward, and honour the achievements of leading Islamic retail banks and individuals across the globe. This year’s Awards Ceremony will be attended by CEOs of Islamic […]
LONDON Battered bonds and emerging market currencies enjoyed some respite on Thursday as the dollar took a breather from a post-U.S. election charge that has taken it to a 13-1/2 year high. Wall Street looked set for a quiet start and Europe’s main stock markets <0#.INDEXE> were shuffling sideways as the dip in global bond yields cooled bank stocks, which have been rising on better lending profits. […]
The welcome Several door staff are manning the slick hotel entrance as I drive up, and several more smartly dressed staff are stationed in the marble-and-glass lobby, which is dressed in fresh flowers and local artwork. A couple of the staff recognise me from a previous visit. The reception area to the right is also well-manned. I’m offered a cold towel and a tasty mango, mint, lemon […]
Warning: Full spoilers for the episode below. These past couple episodes of South Park have served as a major showcase for just how adaptable Trey Parker and Matt Stone can be. Last week, “Oh, Jeez” had to be reworked at the very last minute to reflect Donald Trump’s unexpected election victory. And as continuity-driven as this season has been from the start, that shake-up is still having […]
16 November 2016 The success story of the outdoor agricultural show, Agritech Expo, is about to expand to Tanzania with the inaugural farming B2B platform taking place in the agri-hub of Arusha in January. Says Agritech Expo Tanzania event director Yolanda dos Santos: “continued agriculture economic growth in Tanzania has awoken the need to facilitate an enabling environment where suppliers, farmers of all scales and industry professionals […]
Since last week’s US elections, emerging market assets have been spooked by the possibility of higher US interest rates and greater trade protectionism. That this should result in sudden and broad-based losses for holders of all types of EM investments — including equities, local debt, external bonds and currencies — should not come as a great surprise. What is unusual, however, is for such large losses to […]
By Masayuki Kitano and Lisa Twaronite | SINGAPORE/TOKYO SINGAPORE/TOKYO The dollar caught its breath on Thursday, after charging to a 13-1/2 year high against a basket of currencies on bets the Trump administration will adopt inflationary policies, while the yen sagged after a Bank of Japan bond-buying operation. The dollar index, which tracks the greenback against six major rival currencies, eased 0.1 percent to 100.32 .DXY, after […]
Many health conditions, in both men and women, could be prevented simply by making lifestyle changes such as exercise and a healthy diet, but men are often more reluctant to ignore the signs or seek treatment. Benign prostatic hyperplasia Dr Stefan Schumacher, consultant urologist at Healthpoint hospital in Abu Dhabi, says: “One of the common cases we encounter at Healthpoint is benign prostatic hyperplasia [BPH] or an […]
Rio Tinto has fired Alan Davies, chief executive of its energy and minerals division, and Debra Valentine, the head of legal affairs, after reviewing a $10.5m payment made for advisory services on a giant iron project in Guinea. Last week, the FTSE 100 mining company suspended Mr Davies and announced the resignation of Ms Valentine after contacting regulators about the payment of $10.5m to François Polge de […]
The Middle East will require additional power capacity of 267 gigawatts (GW) by 2030, an increase of 66 percent, according to engineering giant Siemens. The German conglomerate, its outlook for the energy landscape in the region, said growing demand will require and 66 GW of of power over the next 15 years. Siemens’ report maps out the region’s current power generation scenario, upcoming challenges, allocation of energy […]
Amid his display cases of gold coins and jewellery, Suresh Jain was in bullish spirits as he considered Indian households’ traditionally strong demand for the precious metal. “There is no change,” said the 55-year-old owner of BJ Jain Jewellers, in Mumbai’s Zaveri gold bazaar. “Gold is a need of the people. It is not a luxury item; it is essential.” Indian prime minister Narendra Modi is putting […]
SINGAPORE Crude oil futures dropped on Thursday after official inventory reports indicated a larger-than-expected build in U.S. oil stocks. Crude inventories in the United States rose by 5.3 million barrels in the week to Nov. 11, compared with expectations for an increase of 1.5 million barrels. The climb in inventories was mainly due to higher imports that averaged 910,000 barrels per day (bpd), according to data released […]
Global investor expectations of inflation have surged to their highest level in more than a decade, according to a survey of money managers that underlines how Donald Trump’s election as US president has electrified financial markets. More than 80 per cent of those surveyed this month by Bank of America Merrill Lynch believe that the global level of prices will rise over the next 12 months. Although […]
Wednesday 17:00 GMT. US and European stocks were softer as the dollar hit a 13-year high and bond yields eased off multi-month peaks, as investors reined in bets that US president-elect Donald Trump’s pledge of infrastructure spending and tax cuts would accelerate inflation. In Europe, Germany’s Dax fell 0.7 per cent as shares in Bayer fell 4.2 per cent after the drugmaker raised €4bn to pay for […]
