Turkish president Recep Tayyip Erdogan’s attempt to take control of all levers of power and a mounting terrorist threat has begun to alarm investors, sending the Turkish lira down 4 per cent to an all-time low on Wednesday. The lira traded at 3.93 to the dollar, down 12 per cent since the beginning of January, clocking its worst performance since a failed coup in July which prompted […]
|By Arabian Post Staff| Although smartphone sales growth rate is slowing down worldwide, the Middle East and North Africa (MENA) region is witnessing an increase in sales. Smartphone shipment to the MENA region reached 171.2 million in 2016, up from 157.5 million, according to Statista.com – a global portal of statistics that collects information from 18,000 sources. This also means that the Middle East mobile market is […]
Turkey’s lira cemented its reputation as the most fragile of emerging market currencies on Wednesday, falling 4 per cent against the dollar to a fresh record low after the country’s current account deficit took a turn for the worse. Turkey’s currency has plunged 11.5 per cent so far this year and depreciated nearly 30 per cent in the last three months. The lira’s travails eclipse the South […]
Staff costs are rising faster than beer prices and its market faces intense competition. Still, Hong Kong investors sent Bar Pacific soaring as much as 1,600 per cent on its debut for the best-ever opening day by a pub group anywhere in the world. The group, which specialises in local neighbourhood bars rather than the glitzy city centre offerings more usually associated with Hong Kong, raised HK$45.2m […]
By EconMatters We discuss the Carry Trade, ultimate demise of the European Union, answer viewer questions, touch on the oil market, and dog financial media for the rating`s whores that they truly are in this video. There is some buy the rumor, sell the news effect in the oil market today, but we are still pretty bearish on the fundamentals of the industry, and the current supply […]
After the Indian government’s demonetization announcement late last year, the country has been wrapped in problems arising out of a cash crunch. But there is one place where you can see some new notes. The newly issued 2,000-rupee ($29) notes have now found their way into fabric design. The bright pink design has been printed 504 times on a sari selling in Surat in the state of […]
On Wall Street, Donald Trump’s election win spelt pain for the dollar and stock markets right up until the moment he began his acceptance speech in the early hours of November 9 at the New York Hilton. Then the dollar began a trough-to-peak surge that would leave it up almost 3 per cent, a performance only bettered in 2016 on the day after the Brexit vote. S&P […]
It would be premature to decide whether an agreement among OPEC and non-OPEC oil producers to cut output, reached late last year, needs to be extended beyond six months, the United Arab Emirates’ energy minister said on Wednesday. Speaking at an oil industry conference, Suhail bin Mohammed al-Mazroui said there needed to be competition in the oil market and trying to fix the market to achieve a […]
The remake of Final Fantasy VII is arguably one of the most anticipated titles of all time, as gamers are looking forward to relive the adventures of Cloud Strife and his team in a reimagined version of the classic RPG. The Final Fantasy VII remake was announced in June 2015 at the annual E3, not as a simple visual upgrade but as a completely new game with modern graphics and […]
Wednesday 08:30 GMT Overview European stocks and US index futures are lacking momentum, while government bond yields see minimal moves, as traders appear wary of making bold bets ahead of a press conference later in the day from US president-elect Donald Trump. The dollar is steady against the euro but the Turkish lira has hit another record low. Industrial commodity prices mostly are holding recent gains. Hot […]
Alibaba wants to transform the retail sector with a US$2.6 billion buyout that it says will break down the barriers between offline and online. The Chinese e-commerce giant said its investment unit was working with Intime Retail’s founder, Shen Guo Jun, to take the department store chain private with a projected HK$19.8 billion (US$2.6 billion). The funds would be raised through internal cash and external debt financing. […]
The saga of Housing.com, once a red-hot tech startup in India, has reached a conclusion of sorts after the company was sold to rival PropTiger in a deal announced this week. Housing.com was once heralded as a trailblazer for its efforts to digitize the sale and rental of property in India. But a fall from grace, which included the ejection of its outspoken CEO and the removal of […]
Gamers who are looking forward to the Nintendo Switch will finally know all the details on the upcoming hybrid console on Jan. 12, through a presentation by Nintendo that will be livestreamed for the whole world to watch. In advance of the official presentation, the rumor mill has been busy churning out reports and leaks for the Nintendo Switch, including the lineup of games available upon the hybrid […]
Saudi Arabia plans to follow its record breaking debut on global debt markets with an Islamic bond issue in a sale that could come as early as February. The sharia-compliant sukuk will form part of a pipeline of bond sales to finance the kingdom’s budget deficit and invest in economic diversification away from oil and is likely to appeal to regional investors in the Gulf. Last year, […]
MEXICO CITY Pranksters changed the name of Mexico’s lower house of Congress to the “Chamber of Rats” on Google Maps on Tuesday in the latest dig at the political class during a testing start to the year for the country’s government. The lower house, also known as the Chamber of Deputies, became the “Chamber of Rats”, using the Spanish word “rata,” which is also slang for thief […]
Economic growth will slow in Bahrain throughout 2017 and the government will continue to post large deficits as social instability limits opportunities for effective spending cuts, according to new research. In two separate reports this week, BMI Research warns that domestic instability in Bahrain will cause revenues to remain low by historical standards, even as oil prices start to recover. BMI forecasts Bahrain’s budget deficit to come […]
ABU DHABI // A new law was passed by the Federal National Council to protect domestic products from imports being sold for less than what is considered fair market value. The anti-dumping law will add indirect taxes to balance prices and allow local companies to sue over such practices. It applies to products imported from countries outside the GCC. The aim is to set standards for fair […]
Your daily guide to community and cultural activities across the Emirates for January 11, 2017, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. newslide Ajman Wedding fair Attend the opening of The Ajman Palace Hotel Wedding Fair, which features more than 50 vendors, designers and wedding planners from around the country catering to luxury weddings. Following the ribbon-cutting […]
Since the start of the 21st century the South American nation of Suriname, population 540,000, has been riding a commodity boom that yielded major benefits for a country rich in bauxite, gold, oil and bananas. From 2000 to 2014, annual per capita income more than quintupled to almost $10,000. Child mortality fell by a third. A child born there today can expect to live to 70, up […]
The FTSE 100 notched up its longest run of record highs on Tuesday as another low for sterling helped the UK’s blue-chip index outperform European peers. The main London benchmark added 0.5 per cent, up 37.7 points to 7,275.47. It was the FTSE’s ninth consecutive record-high close as well as its 11th consecutive gain, a winning streak it has only equalled three times — in 1997, 2004 […]
The debate about “fake news” has gripped politics since the election of Donald Trump in November and has entered markets as investors spar over a “great rotation” from bonds into stocks. Long predicted by some analysts, expectations of a pronounced rotation out of low-yielding bonds and defensive share sectors into areas of the equity market that prosper from faster economic growth have been heightened by the prospect […]
For more evidence that central bank intervention in the foreign exchange market is increasingly becoming an exercise in futility – look no further than Mexico. The peso briefly sank to a fresh all time low against the dollar on Tuesday, dropping by as much as 1.1 per cent to MXN 21.6227, as concerns continue to mount over incoming US president Donald Trump’s trade rhetoric towards Mexico, report […]
The organisers behind the upcoming show CATS the Musical at Dubai Opera have released a number of AED275 tickets for the show. Andrew Lloyd Webber’s record-breaking musical, one of the longest-running shows in West End and Broadway history, opens in Dubai Opera on January 16 next, for a limited ten-night run until January 25. Performed by Broadway Entertainment Group, the production is an adaptation of TS Eliot’s […]
By Parisa Hafezi | ANKARA ANKARA The death of former president Ali Akbar Hashemi Rafsanjani deprives Iran’s reformers of a powerful ally, boosting anti-Western hardliners before a presidential election which will determine how open Tehran is to the world. The loss of Rafsanjani’s skills as a factional powerbroker also means rivalries in Iran’s unwieldy dual system of clerical and republican rule could grow unchecked, testing the stability […]
