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|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 […]

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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 […]

Mexico can expect a windfall of as much as $2.9bn next month from its annual oil hedging programme, but that will be dwarfed by an expected bonanza from the central bank that could pour close to $20bn into government coffers in April, analysts say. For a government facing bitter spending cuts, an increasingly uncertain economic outlook, sharply lower growth prospects next year and the threat of a […]

Impala Asset Management, the $2.2bn hedge fund run by George Soros’s former chief investment officer, is benefiting from bets that an overhaul of America’s infrastructure and sustained demand from China will buoy appetite for commodities. Robert Bishop, who founded Impala in 2004, said they decided infrastructure would be a win whoever won the US election, but doubly so in the case of Donald Trump, a real estate […]

The facility is Hempel’s second largest decorative factory in the world, and the largest in the Middle East Kingdom of Saudi Arabia – 23 November 2016 Hempel Paints, a global supplier of marine, protective and decorative coatings, announced plans to move its entire production in Saudi Arabia to its new plant in Jeddah’s Second Industrial City as part of a strategy aimed at meeting the needs of its […]

Bank of Singapore, a unit of Oversea-Chinese Banking Corp, said on Tuesday it had received a licence to open a branch in Dubai International Financial Centre (DIFC) as it aims to tap demand from wealthy individuals in the Middle East. The bank said the licence allows it to conduct private banking including investment, credit and wealth planning advisory services to its ultra-high and high net worth clients. […]

ABU DHABI // The UAE is focused on tourism as one of the main pillars of the post-oil economy, Sultan Al Mansouri, Minister of Economy, has said. Under the directives of the country’s leadership, the Emirates has developed an economic system based on diversity, innovation and sustainability that achieved an 8.7 per cent GDP growth worth Dh134 billion during 2015, said the minister in an interview with […]

Global lenders’ need to cut the mounting cost of running their swaps portfolios has turned what was once a cottage industry into a cornerstone of the global derivatives industry. BGC Partners, the US interdealer broker, became the latest to underline this trend after revealing the value of interest rate swaptions it had torn up for banks this year more than trebled to $3.5tn. A swaption gives a […]

22 November 2016 Dubai – ICT spending in the Middle East, Turkey, and Africa (META) is forecast to total $243 billion in 2017, according to the latest insights presented today by International Data Corporation (IDC). Hosting its annual ‘IDC Predictions’ event at Dubai’s Burj Al Arab hotel, the global technology research and consulting services firm said it expects the region’s ICT market to grow 3.6% year on […]

Tuesday 08:00 GMT. European stocks are following a positive Asian session as global investor sentiment is buoyed by simultaneous record highs for Wall Street’s main equity gauges. A steadier dollar and further gains for oil prices are supporting the chipper mood. After the FTSE Asia Pacific index rose 0.8 per cent, the pan-European Stoxx 600 is advancing 0.7 per cent. Germany’s Dax is up 0.6 to challenge […]

Riyadh, 22 November 2016   Investcorp, a global provider and manager of alternative investment products, today announced that an entity managed by it has invested in a stake in the leading private medical laboratory chain in the GCC, Al Borg Medical Laboratories (“Al Borg” or the “Company”). Established in 1999 in Jeddah, Al Borg has 53 laboratories across eight countries in the GCC and Africa, with a clear […]

The UK’s Autumn Statement arrives laden with investors waiting to see whether the British government will make good on recent heavy-handed hints about fiscal expansion. Past Treasury updates have tended to be a damp squib in global financial markets — political posturing and fiddling with tobacco taxes rarely able to catch the interest of international money. This year however the chancellor, Philip Hammond, has an opportunity to […]

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