November 25, 2016 by: Jamie Chisholm in London and Peter Wells in Hong Kong Friday 08:30 GMT. Overview Stock markets are cautiously mixed as traders await Wall Street’s return to the fold after the Thanksgiving break. US futures suggest the S&P 500 will be in line for another record, looking to add 1.5 points to 2,206.3 when the opening bell rings later in New York. Still, for […]
By Henning Gloystein | SINGAPORE SINGAPORE Oil prices fell over 1 percent on Friday, dragged by a strong dollar, rising Saudi supplies to Asian clients, and a fall in Chinese imports. Brent crude futures were trading at $48.42 at 0753 GMT, down 58 cents, or 1.2 percent, from their last close, although overall activity was thin after the U.S. Thanksgiving holiday and ahead of the weekend. U.S. […]
Amazon.com Inc is reportedly in talks to acquire Dubai-based online retailer Souq.com for about $1 billion, it was reported on Thursday. Bloomberg reported that the deal will give the US-based e-commerce giant a footprint in the high-growth Middle East market, citing people familiar with the matter. It said Amazon is considering a bid for all of the site, which had initially planned to sell a stake of […]
US stock funds continue to pull in investor’s cash after the US election, as Donald Trump’s rhetoric over renewed growth for the economy shows no sign of abating. Just over $5.1bn flowed into US stock funds for the week ending November 23, according to data from EPFR. It was a lighter intake than the previous record-setting week, but still accentuated the rotation out of bond funds and […]
By Nichola Saminather | SINGAPORE SINGAPORE Asian stocks advanced on Friday as the Thanksgiving break in the United States helped slow a relentless surge in the dollar that has sucked capital out of most emerging markets. The respite for Asian assets may be short-lived, however, with U.S. Treasury yields resuming their climb after the holiday as investors bet that President-elect Trump will adopt policies that increase spending […]
The battle for Thanksgiving online shoppers is well under way, with early data suggesting that it is off to a positive start. Between midnight and 5pm US Eastern Time, online sales increased 13.6 per cent to $1.15bn, compared with 2015, according to Adobe Digital Index, which tracks 80 per cent of online sales of the top 100 retailers. It said this figure meant sales via ecommerce for […]
With raw newsflow in the financial, political, economic and geopolitical realms hurtling ever faster – scrambling toward some yet unknown climax – facilitated by a world that has never been more interconnected, and where the noise to signal ratio (especially over the past few months courtesy of certain… events) has hit unprecedented levels, sometime we get so focused on trying to share our own, unique (we hope) […]
If there are political similarities in the impulses that led the UK to vote for an exit from the EU and the US for Donald Trump, the market reaction to Wednesday’s collection of British tax and spending measures illustrated the economic differences between the two countries. While Trumponomics has fast become shorthand for a promised programme of tax cuts and infrastructure incentives that could rival the actions […]
Authored by Bonner & Partners’ Bill Bonner, annotated by Acting-Man’s Pater Tenebrarum, Permanently Skewed TRUMP HOTEL, New York – Trump’s rambling army – professionals, amateurs, camp followers, and profiteers – is marching south, down the I-95 corridor. There, on the banks of the Potomac, it will fight its next big battle. Lieutenants in Trump’s army: Bannon, Flynn & Sessions Here at the Diary, we do not […]
Hopes of a fix to the collateral squeeze facing the eurozone’s €5tn short-term funding markets were boosted this week after reports emerged the European Central Bank will consider ways to ease rules on how it lends its stockpile of sovereign debt. A lack of good quality collateral, which market participants use to secure loans, has crippled the single currency area’s short-term funding (“repo”) markets. One big reason […]
|ARABIAN POST SPECIAL|By K Raveendran| As predicted, Emaar chairman Mohammed Alabbar’s foray into e-commerce has already started creating waves in the regional and global online retailing market. In an apparent move to retain its clout, global e-commerce leader Amazon.com is reportedly in talks to acquire Dubai-based online retailer Souq.com. Amazon is reportedly considering a bid for all of souq.com, which had initially planned to sell a minority stake. […]
The relentless rise of the dollar scorched emerging market currencies on Thursday, sending China’s renminbi to its weakest level in eight years, while India’s rupee plumbed a record low. Broad currency weakness against the dollar came as the bond market fully expects policy tightening by the Federal Reserve at its December meeting. Investors are also looking to next year and trying to gauge the extent of further […]
While most global equity markets were subdued due to the US Thaksgiving holiday, the FX world was very busy overnight, marked by the relentless dollar surge on expectations of a rate hike not only in December but further in 2017, sending Asian currencies to the weakest level in 7 years: the Bloomberg-JPMorgan Asia Dollar Index reached 103.32, the lowest level since March 2009. The regional FX plunge […]
Emarat Dzayer Group, a Dubai-based conglomerate, and Groupe Imetal, a Government of Algeria entity, have signed an agreement to develop a $1.6 billion steel plant in Algeria’s Annaba Province. The agreement was signed on Tuesday on the sidelines of the Algerian-Emirati Investment Forum. The agreement will create Emarat Dzayer Steel Company, a joint venture in which Groupe Imetal will hold 51 percent stake through its two subsidiaries […]
By Shinichi Saoshiro | TOKYO TOKYO Most Asian stock markets fell on Thursday as upbeat economic data strengthened the prospect for higher U.S. interest rates, while the dollar’s bull run continued with U.S. bond yields propelled to multi-year highs. Japanese stocks swam against the tide and rose to a near 11-month high as the yen weakened. Spreadbetters saw a mixed opening for European stocks, forecasting a slightly […]
Qatar Development Bank (QDB) plans to launch a debt-to-equity seed funding initiative for entrepreneurs, its CEO said on Tuesday. The fund – the size of which has yet to be confirmed – is expected to launch by the end of this year, according to QDB’s Abdulaziz bin Nasser Al Khalifa. Entrepreneurs and small-to-medium-sized enterprises (SMEs) will be able to gain access to convertible notes with a ticket […]
So Brexit was not a historical accident after all. The Trump victory seals it. A complacent, mainly urban liberal class, has been undone by a revolt. Nationalists are in charge of Washington and London now. These “strongmen” and “strongwomen” will control borders, restrict the movement of labour and subject cross-border M&A to ever tighter public scrutiny tests. Security will come first. The twin freedoms of capital and […]
With the gardening season upon us again we narrow down the most suitable plants for our climate. newslide 1. Flame tree (Delonix regia) The Delonix regia, or flame tree, should be your go-to if you’re looking to add a splash of colour to your garden. Sprouting fiery red, orange or yellow flowers, the flame tree, native to Madagascar, is typically found in tropical or near-tropical climates. It […]
November 24, 2016 by: Neil Hume, Commodities and Mining Editor The new chief executive of Rio Tinto said on Wednesday that he would focus on sweating the company’s assets and improving productivity rather than transformational mergers and acquisitions. Ahead of his first in-depth strategy presentation, Jean-Sébastien Jacques said that the Anglo-Australian miner could boost cash generation by as much as $5bn by the end of 2021 by […]
|By Arabian Post Staff| Emarat Dzayer Group, a Dubai-based diversified business conglomerate, and Groupe Imetal, a Government of Algeria undertaking, has signed an agreement to develop a US$1.6 billion (Dh5.87 billion) steel plant in Algeria’s Annaba Province. The agreement was signed on Tuesday in Algeria, on the sidelines of the Algerian-Emirati Investment Forum in the presence of Abdel Malek Sellal, Prime Minister of Algeria, Sheikh Mansour Bin Zayed […]
LONDON Britain made fewer cars last month for the first time in more than a year, driven by slower domestic demand and prompting the industry’s lobby group to renew its call for the government to maintain free trade as Britain leaves the European Union. Overall output fell by an annual 1 percent to 151,795 units in October, the Society of Motor Manufacturers and Traders (SMMT) said on […]
By Lucia Mutikani | WASHINGTON WASHINGTON New orders for U.S. manufactured capital goods rebounded in October, driven by rising demand for machinery and a range of other equipment, the latest indication of an acceleration in economic growth early in the fourth quarter. The brightening economic outlook received a further boost from other data on Wednesday showing a jump in consumer sentiment this month following the election of […]
Mid-morning last Friday, as Tokyo’s foreign-exchange traders were contemplating lunch, the first pictures of Donald Trump meeting the Japanese prime minister, Shinzo Abe, flashed up. The yen bears loved it. Setting aside the gold-encrusted Babylonian decor of Trump Tower and forced bonhomie, conventional market wisdom before November 9 was that an image like this would send global investors everywhere screaming into haven, long yen positions. Forget an […]
At the Bundesbank’s Frankfurt offices, its dealers sit in front of rows of Bloomberg and Reuters terminals and search for €10bn-worth of their government’s bonds to buy each month. As prices for the debt hit record highs earlier this year, they struggled to find bonds cheap enough to meet their target, set as part of the European Central Bank’s quantitative easing programme. Now, as investors anticipate higher […]
