OIAPOQUE, Brazil – Deep beneath the waters of the Atlantic off Brazil’s most northern coast, French major Total SA is hunting for what it hopes will be Latin America’s next big oil discovery. Metal drill bits, pipes and containers filled with equipment sit in the tropical port of Belém, near the mouth of the vast Amazon River, ready to sink the first exploratory wells 120 km (75 […]
Investors poured $6bn of new capital into European stock funds in the past week, underlining the voracious appetite for assets across the continent as growth accelerates, earnings recover and several of the bloc’s largest countries move past critical elections. The amount of flow in the five days to May 10 is the first time the weekly amount has passed $6bn since at least 2000 when EPFR began […]
Kuala Lumpur, 11 May 2017 The fifth edition of Islamic Financial Services Board’s (IFSB) annual Islamic Financial Services Industry Stability Report 2017 examines the implications of the recent economic developments and changes in the global regulatory and supervisory frameworks on the global Islamic financial services industry (IFSI). Amidst a challenging external environment brought on by the changing policy directions and uncertainties in the global economic landscape, institutions […]
Michael Dell at Dell EMC World Image: Asha McLean/ZDNet Although Dell EMC operates in approximately 180 countries, not all of the products and services from the company’s bag of tricks are available everywhere. When it comes to Australia, however, Michael Dell told ZDNet that Australia is pretty high up on the priority list, giving local organisations access to almost the entire Dell EMC stack ahead of many […]
While China growth has been slowing, and monetary conditions tightening, few (if any) have predicted any prolonged deflation (let alone a recession), yet overnight – for the first time ever – the $1.7 trillion Chinese bond market inverted, flashing a warning signal to the world that something is wrong. Early on Thursday, the five-year yield rose to 3.71%, breaking above the 10-year yield for the first time […]
A $100 million fund has been launched in Bahrain to invest in the country’s small and medium-sized enterprises (SMEs). The initiative has been unveiled by the Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of IDB Group, in partnership with Ibdar Bank, and Labour Fund Tamkeen. The Bahrain SME Fund is a Shariah compliant mezzanine private equity fund which will target […]
Manama Bahrain, 11th May 2017 Bahrain Cinema Company, market leaders in the entertainment industry in the Kingdom of Bahrain, announced the launch of the second branch of the authentic Indian and Chinese cuisine restaurant, Takatak, along with a first of its kind Indian street food cuisine restaurant, Chaat & Chai, at Lulu Mall, Hidd on 11th May 2017. A number of exclusively invited VIPs attended the launch […]
Pets at Home hit a record low on Thursday amid fears of a profit warning with its full-year results this month. Morgan Stanley slashed earnings forecasts for Pets at Home’s 2018 financial year to reflect margin pressure, continued weak sales and rising costs. So-called “category killer” specialist retailers need high gross margins to be economically viable because they suffer from low sales densities and slow stock turn, […]
11 May 2017 With an extensive Gulf and International participation, the Saudi Elenex and Saudi Aircon Exhibitions will kick off during the period between 14 to May 16, 2017 at the Riyadh International Convention and Exhibition Centre, Riyadh Exhibitions Co. Ltd, the organizing company, announced that it is looking on the twentieth edition to attract more than 5000 experts, which is held under the diamond sponsorship of […]
A thief, your kids skipping school or paranormal activity? That’s the question that Lighthouse aims to answer with its new interactive assistant. By combining sophisticated sensors with computer vision technology, the Lighthouse team hopes to deliver an experience that brings more day-to-day value than a mere home security solution. Coming out of Stealth today, the company is equipped with $17 million in venture capital financing from Eclipse Ventures, Playground Global, […]
For the 3rd month in a row, US Producer Prices have risen at a faster rate than The Fed’s mandate. April healdine PPI rose 2.5% YoY – the most since Feb 2012, and well above the highest anayst estimate, despite disinflationary credit impulse pressures from China being seen in industrial metals. The biggest driver is surging costs for investment advice! Core PPI (ex food and energy) rose […]
Al Ain, UAE, 11 May 2017: According to Dubai Chamber, Dubai is estimated to have around 717,000 sq. meters of new retail space by 2018, while Abu Dhabi is expected to see a supply of 467,000 sq. meters of new space over the same period. Industry insiders seem positive about the announcement. “Abu Dhabi is a magnificent location. Recent years have seen the emirate invest heavily in […]
Facebook announced on Wednesday that it’s penalizing websites that contain little substantive content and junky advertising, the social network’s latest step to police its platform for content that users find objectionable or irrelevant. “We hear from our community that they’re disappointed when they click on a link that leads to a web page containing little substantive content and that is covered in disruptive, shocking or malicious ads,” […]
BT’s own goals cost the boss dearly. FT Opening Quote, with commentary by Matthew Vincent, is your early Square Mile briefing. You can sign up for the full newsletter here. Two months ago, all Paris St Germain had to do to reach the quarter finals of the European Champions League was not concede three goals in the final 2 minutes of their match against Barcelona. Barcelona’s ensuing […]
Authored by Whitney Webb via TheAntiMedia.org, When the U.S. overthrew the Taliban in the wake of 9/11 as part of its newly launched “war on terror,” it set the stage for the explosive growth of Afghanistan’s dying opium industry. A few short months before the invasion took place, the Taliban made headlines for having “dramatically ended the country’s massive opium trade” after the leader of the fundamentalist […]
By Nandita Bose | WHEATON, Ill. WHEATON, Ill. German grocery chain Aldi Inc is trying to beat the world’s biggest retailer at its own game: low prices. Already with 1,600 U.S. stores, Aldi has set a minimum target of selling groceries at a 21 percent discount to its U.S. rivals, including Wal-Mart Stores Inc (WMT.N), Chief Executive Jason Hart told Reuters. His strategy, previously unreported, centers on […]
The number of automatic teller machines (ATMs) in the UAE has increased by 67 in the past year, according to the country’s central bank. In a statement run by state news agency WAM, it said the UAE now has a total of 5,211, with the increase in ATMs “another indicator of the growth of business sentiment in the country”. The central bank statistics also said that up […]
A consortium led by Macquarie Group is buying a controlling stake in one of Australia’s biggest public energy companies in a deal that will deliver a A$7.6bn windfall to the New South Wales government. The sale of a 50.4 per cent stake in Endeavour Energy to the Advance Energy consortium completes a trio of energy sales in NSW under an “asset recycling” policy, which the US administration […]
11 May 2017 The Bahrain based leading Islamic banking group, Al Baraka Banking Group B.S.C (ABG) announced that it achieved a total operating income of US$ 249 million during the first quarter of 2017 and the total financing and investments recorded slight increases at the end of March 2017 compared to end of December 2016. Al Baraka Banking Group has continued during the first quarter of 2017, […]
Just hours after the Fed’s March “dovish” rate hike, when stocks paradoxically surged to all time highs and yields tumbled, Goldman found something strange: “surprisingly, financial markets took the meeting as a large dovish surprise—the third-largest at an FOMC meeting since 2000 outside the financial crisis, based on the co-movement of different asset prices.” Even more surprising is that according to Goldman, its financial conditions index, “eased […]
Sultan bin Sulayem: The vision of Mohammed bin Rashid has turned innovative ideas into distinctive and brilliant achievements Go Global! This year Ideas Arabia gives winners of 2 categories – Executive Leadership & Idea of the Year, a unique opportunity to compete globally in ‘The Global Award’ taking place in 2018. Leaders and experts came together to meet for the two-day conference to support the […]
Abu Dhabi National Exhibitions Company (ADNEC) announced on Wednesday that the value of its contribution to the economy of Abu Dhabi reached AED1.12 billion ($300 million) in the first quarter of 2017, up eight percent on targets. In Q1, ADNEC said it hosted 12 exhibitions, and 108 conferences and events that attracted more than 302,000 visitors to its venues in Abu Dhabi and Al Ain. During the […]
Snap fell short of Wall Street’s expectations in its first quarterly results as a public company, sending its shares tumbling by almost a quarter in value in after-hours trading to hit a new low. The maker of the Snapchat app reported revenue growth of 286 per cent to $149.6m but analysts had been expecting almost $10m more than that. Losses were also wider than forecasts. Daily active […]
10 May 2017 BP today announced that it has started gas production from the first two fields, Taurus and Libra, of the West Nile Delta development in Egypt. The project was delivered eight months ahead of start-up schedule and under budget. First gas was exported to Egypt’s national grid on 24 March 2017 and the commissioning of all nine wells of the development’s first two fields and […]
