The German luxury car maker BMW saw its net profit rise by nearly a third in the first three months of the year as sales increased, helped by profitable 4x4s and the 7-Series large saloon. The Munich-based firmr said Thursday that it made €2.15 billion (Dh8.62bn) in the first quarter, up 31 per cent on the €1.64bn in the year-earlier quarter. Profits were also boosted by a […]
Earlier in the week we shared Pierre Andurand’s hedge fund note blame-casting his fund’s dismal drawdowns on “CTA flows eclipsing the gradual improvement in fundamentals.” The market sell-off is missing the larger picture, he proclaims. “Market participants remain extremely focused on micro developments like US crude inventories while the big picture has been telling us a different supply story for quite some time,” he wrote. “In fact, […]
You couldn’t rain on Wall Street’s parade. Despite Friday’s Manhattan downpour, a rebound in oil prices and an upbeat jobs report helped the S&P 500 log a new closing high. The benchmark index rose 0.4 per cent to a fresh high of 2,399.27 and was up 0.6 per cent for the week in its third consecutive weekly rise. The rally was led by the energy sector, which […]
By Lawrence Delevingne | NEW YORK NEW YORK Paul Singer’s hedge fund firm Elliott Management Corp raised more than $5 billion in about 24 hours this week, citing a major potential investment opportunity at a time when Singer said financial markets could face a disruption after being distorted by years of economic stimulus. Singer, in an email to investors on Wednesday announcing the offering of up to […]
Event opens with xx regional and international exhibitors showcasing Egypt’s mega projects such as The New Capital of Egypt and New El Alamein City 06 May 2017 H.E Sultan Butti bin Mijrin, Director General of Dubai Land Department, and in the presence of H.E. Dr. Mustafa Madbouli, Minister of Housing, inaugurated the 2017 Egypt Property Show (EPS) today (Friday, May 5, 2017) in Dubai World Trade Centre, […]
The slowdown in the UAE’s non-oil real GDP growth appears to have bottomed out and Dubai can expect a 2 percent Expo 2020 boost to its GDP, according to a new report by Bank of America Merrill Lynch. Its report said that the UAE has managed a soft landing, with a less pronounced cycle than in the global financial crisis in 2008. It noted that incremental government […]
Business conditions in Saudi Arabia’s non-oil private sector continued to improve at the start of the second quarter, with rates of expansion in new work and business activity gathering pace, according to a new survey. Data from the Emirates NBD Saudi Arabia Purchasing Managers’ Index (PMI) showed that firms were encouraged to engage in purchasing activity, which in turn led to the strongest accumulation in stocks of […]
Market Report Falling oil prices have weighed heavily on US energy stocks lately, but a comeback on Friday helped the sector claw back some of its losses and reinvigorated the US stock market, says Robin Wigglesworth. May 5, 2017 Filmed and edited by Donell Newkirk Source link
By Lucia Mutikani | WASHINGTON WASHINGTON U.S. job growth rebounded sharply in April and the unemployment rate dropped to 4.4 percent, near a 10-year low, pointing to a tightening labor market that likely seals the case for an interest rate increase next month despite moderate wage growth. Nonfarm payrolls surged by 211,000 jobs last month after a paltry gain of 79,000 in March, the Labor Department said […]
North America, the UK, Germany and Australia remain the top property investment destination for UAE residents, according to a YouGov survey conducted by IP Global, the property investment firm. The survey results showed that when it comes to investing in property abroad, the US and Canada are the most popular markets among UAE citizens. Chicago and Los Angeles were highlighted as popular investment destinations in the US. […]
After a busy week in the US, attention shifts to Europe with the second round of the French elections on Sunday. Here’s what to watch in the coming days. France Four separate polls give fervent EU supporter and political novice Emmanuel Macron a 24-point lead over Marine Le Pen, who has proposed pulling France out of the EU. Markets are also expecting a win for Mr Macron. […]
It has been a stressful day for oil traders. After rebounding from the six-month lows hit early Friday morning, oil prices are showing little sign of settling down, bouncing around between decent gains and slight declines. At publication time, Brent crude was completely flat for the day at $48.38 per barrel. WTI, the US benchmark, was down 0.15 per cent at $45.45. Oil prices have been hit […]
By Tife Owolabi | YENAGOA, Nigeria YENAGOA, Nigeria At least six Nigerian soldiers have been killed in new military campaign against militants in the country’s restive Niger Delta oil hub, security officials said on Friday. The southern swampland has been largely quiet since the start of the year because militants halted attacks against oil pipelines to give the government a chance to conduct peace talks. But in […]
The pace of US job growth bounced back last month from a weak performance in March, underscoring the Federal Reserve’s view that the economy’s choppy first-quarter performance was probably a blip. The US economy added 211,000 jobs in April, compared with Wall Street expectations of 190,000. Payrolls for March was revised down to just a gain of 79,000 jobs, compared to an earlier estimate of 98,000. Meanwhile, […]
Market Report The FT’s Jamie Chisholm highlights what to watch in markets on Friday. Oil prices sunk to a five-month low below $47 a barrel at one point in Asia, while energy shares struggle. Wall Street futures are well off session lows, with jobs data awaited. May 5, 2017 Produced by Filip Fortuna. Filmed by Rod Fitzgerald. Source link
The Australian dollar and Norwegian krone are vying for the ignominious title of worst-performing major currency today as commodity prices tumble. Following a stumble in oil prices in Asia on Friday that took Brent crude and West Texas Intermediate to their lowest since November, the krone (pictured above) suffered a sharp fall and surpassed the Aussie dollar as the worst among major currencies. The krone was down […]
By Saikat Chatterjee | HONG KONG HONG KONG Asian stocks declined for a third consecutive day on Friday as fresh falls in commodities raised concerns about the health of the global economy, though the euro bucked the broad weakness on receding concerns about France’s presidential election. Chinese stocks led regional losers, falling to a three-month low as concerns about tighter financial regulations weighed on banking shares while […]
Amaysim has said it is committed to introducing National Broadband Network (NBN) services with faster speeds than its current maximum 100/40Mbps tier once it is “economically viable”. “We will definitely be coming out with higher-speed plans as they become commercially viable in the market … 1Gbps is an option that’s on the table and being looked at but not guaranteed at this stage,” Rob Appel, Amaysim’s commercial […]
The US energy industry has morphed from 2016’s big winner to the bottom of the heap this year in a slide that has accelerated as oil prices fell on Thursday to the lowest level since November. Energy stocks listed on the S&P 500 index dropped 1.9 per cent on Thursday. The fall brings the sector’s decline this year to 12.1 per cent, the biggest drop of the […]
MUSCAT // Travel agents in Muscat say holiday bookings for Dubai have risen by 80 per cent in the past 12 months, as Omanis hit by rising inflation opt for destinations closer to home. Dubai has taken over from Thailand as the top holiday destination for Omanis. “Omani travellers now prefer to go on holiday in Dubai … more than other destinations,” Veenith Laghari, a tour operator […]
Royal Dutch Shell on Thursday rounded off the strongest set of quarterly results from “big oil” for over two years, even as a fresh slide in crude prices raised doubts over the sustainability of recovery from one of the deepest downturns in industry history. Earnings from the Anglo-Dutch group in the first three months of this year more than doubled from the same period of 2016. This […]
Authored by 720Global’s Michael Lebowitz via RealInvestmentAdvice.com, “History has not dealt kindly with the aftermath of protracted periods of low risk premiums” – Alan Greenspan The ability to see beyond the observable and the probable is the most important and under-appreciated characteristic of successful investors. For example, visualize a single domino standing upright. With this limited perspective, one can establish what the domino is doing in the […]
By Julia Simon | NEW YORK NEW YORK Oil prices collapsed on Thursday to their lowest since late November as investor worries about the world’s stubbornly persistent glut of crude erased most of the gains that followed last year’s OPEC’s output cut. The slide worsened after OPEC delegates downplayed the chance that their group and other producing countries would deepen their output cuts when they meet on […]
US Treasuries came under pressure across the curve on Thursday, following a round of solid economic data and indications that the Federal Reserve is willing to look past the slowdown in economic growth at the start of this year. The 10-year yield was up 0.043 percentage point (4.3 basis points) at 2.363 per cent. Meanwhile, the policy-sensitive two-year yield ticked up 2.81 bps to 1.322 per cent. […]
