Greece has wrapped up a deal with creditors on details of reforms that must be enacted before the country can receive the next disbursement from its €86bn bailout programme. The deal, which covers a wide range of fiscal and structural measures, from fresh cuts in pensions to liberalising Sunday trading, was completed during intensive talks over the past week after months of wrangling between Greek finance ministry […]
The cover of Arabian Business, April 30–May 6, referenced an exclusive interview with Anas Al Saleh, Deputy Prime Minister and Minister of Finance of Kuwait. The minister was quoted as saying: “I worry about my country, I worry a lot about my reserves, I worry about the sustainability of Kuwait.” This statement was made in reference solely to the long term fiscal sustainability of Kuwait, in relation […]
Tuesday 06:00 BST Overview Stocks across Asia were mixed on Tuesday as investors grappled with Wall Street’s lowest level of volatility since before the financial crisis amid a holiday-interrupted week. European bourses are expected to open higher, with spreadbetters predicting the UK’s FTSE 100 will climb 26 points to 7,230 and Germany’s Dax to gain 22 points to 12,460. US index futures suggest the S&P 500 will […]
By Andrew Cawthorne and Alexandra Ulmer | CARACAS CARACAS Venezuela’s socialist President Nicolas Maduro announced on Monday the creation of a new popular assembly with the ability to re-write the constitution, which foes decried as a power-grab to stifle weeks of anti-government unrest. “I don’t want a civil war,” Maduro told a May Day rally of supporters in downtown Caracas while elsewhere across the city security forces […]
Wall Street’s so-called fear gauge slid to its lowest level since before the credit crisis on Monday as the broad US stock market inched closer to a new all-time high and the technology-heavy Nasdaq Composite closed at a record. The Chicago Board Options Exchange’s implied volatility index, also known as the Vix, slipped as much as 9 per cent on Monday afternoon to touch 9.90, its lowest […]
TOKYO Asian shares advanced on Tuesday, helped by rising optimism on the technology industry and easing concerns over North Korea, while the dollar edged up to one-month high versus the yen. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.1 percent, with many of the region’s markets reopening after a long holiday weekend. Japan’s Nikkei rose 0.3 percent. On Wall Street, although the Dow Jones […]
ABU DHABI // Heavier fines will be levied on petrol smugglers in the UAE’s drive to protect its petroleum industry. FNC members will on Tuesday debate a legislative bill to jail petrol smugglers for between one and three years and impose a Dh500,000 fine for repeat offences. The current penalty is a jail term and a Dh30,000 fine. A national law is needed to govern the transfer, […]
US stock markets climbed higher on Monday, as bipartisan agreement over a US budget deal overpowered weak manufacturing data in the US and China, with European markets closed for the May bank holiday. The benchmark S&P 500 climbed 0.3 per cent by midday in New York on news of the budget deal, shrugging off an initial tumble when data from the Institute for Supply Management showed America’s […]
Between Thumbtack, Yelp Angie’s List, and Amazon, it wouldn’t appear that the world needs a new platform that matches customers with service professionals. That’s not the way that Julio Vasconcellos sees it, clearly. Vasconcellos has spent the last year-plus working on a services platform called Prefer that relies exclusively on trusted referrals, replacing the wisdom of crowds with the wisdom of one’s friends when it comes to hiring a babysitter or accountant or housekeeper. In […]
Authored by Mark Melin via ValueWalk.com, Bullish on oil, Andurand Commodity Fund Manager Pierre Andurand looks around the world for justification of his long exposure. Since the start of 2017, patience has been emphasized by the famous French oil trader, perhaps best known for his previous BlueGold Global Fund management, who is now struggling with an -11.6% loss year to date as of March and is in the […]
Besides the upcoming FOMC meeting on May 2-3, and French & Italian politics – the decisive runoff round of the French election takes place this Sunday – this week’s releases are dominated by US payrolls expected to come around 170k. The busy release calendar continues with Norges bank and RBA meetings as well as global manufacturing PMIs. The market’s focus during the week of 5/1 will begin […]
According to reports, LG is gearing up to release a smaller version of its G6 flagship. The device will feature a 5.4-inch display with a screen-to-body ratio just under 80 percent. It’s also expected to tout the G6’s 18:9 aspect ratio, reports add. LG To Produce Mini G6 That’s according to TechnoBuffalo, who claims to have received an internal document from a trusted source. The move, if true, isn’t […]
When North Korea deployed hundreds of artillery units, submarines and soldiers to take part in its largest live-fire drill, it was intended as a chilling display of the reclusive regime’s military might. The country boasts the world’s fourth-largest standing army, with more than 1m troops as well as 7m reserves, and last week’s military exercise came as US President Donald Trump ramped up the pressure on Pyongyang […]
SGX, the Singapore Exchange, is looking to further boost its Chinese derivatives business by offering to collaborate with a planned new local futures venture backed by the founders of one of China’s largest hedge funds. Loh Boon Chye, the bourse’s chief executive, told the Financial Times he was willing to open its clearing infrastructure to the challenger, called Apex, so it could conduct futures trading in the […]
By Shinichi Saoshiro | TOKYO TOKYO Asian stocks struggled for traction on Monday after weaker-than-expected U.S. economic growth data, while the dollar dropped against the yen amid tensions over North Korea and slipped versus the euro on evidence of strong euro zone inflation. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS inched up 0.1 percent and Japan’s Nikkei .N225 added 0.1 percent. Many markets in Asia […]
Authored by EconomicPrism’s MN Gordon, annotated by Acting-Man’s Pater Tenebrarum, Seeing the Light It has been said that “the definition of insanity is doing the same thing over and over again and expecting different results.” No one quite knows who first uttered this remark; it has been attributed to Albert Einstein, Mark Twain, Benjamin Franklin, and has even been said to be an Ancient Chinese Proverb. What […]
DUBAI // A new boarding school in the emirate will compete with some of the best and most exclusive in the world as it prepares to open its campus this year. The first of three planned boarding houses at the Swiss International Scientific School’s Al Jaddaf campus is being built and on track for completion before the academic year starts in September. Consisting of 50 en-suite rooms […]
Organisers of a music festival in The Bahamas that was billed as a luxury getaway but collapsed in chaos promised refunds on Saturday – and said they would try again next year. The Fyre Festival was abruptly aborted Friday after hundreds of party-goers – who had paid for tickets costing up to $12,000 (Dh44075) and VIP packages that rose to $250,000 – arrived only to be welcomed […]
By Sue-Lin Wong and Kevin Yao | BEIJING BEIJING Growth in China’s manufacturing sector slowed faster than expected in April, an official survey showed on Sunday, as producer price inflation cooled and policymakers’ efforts to reduce financial risks in the economy weighed on demand. The National Bureau of Statistics’ official Purchasing Managers’ Index (PMI) fell to a six-month low of 51.2 in April from March’s near five-year […]
30 April 2017 UAE – According to the annual YouGov survey conducted by IP Global, the leading full-service property investment company; North America, UK, Germany and Australia remain the top property investment destination for UAE residents. The survey results show that when it comes to investing in property abroad, North America is the most popular market among UAE citizens. The UK with 13% and Australia with 11%, […]
U.S. President Donald Trump signed a new executive order on Friday, April 28 extending offshore oil and gas drilling to areas that had been off-limits. The move aims to increase domestic production, but it might not prove to be the best idea considering that industry demand for acreage has been rather low. The new executive order could expand offshore drilling to parts of the Pacific, Atlantic, and Arctic oceans, […]
This story was originally published on Medium and is being republished here with the permission of its author. Two years ago in Hong Kong, I sat around a conference table with some of the finest journalists to have worked in the Chinese media in the past two decades. Left and right of me were reporters who had broken major stories of corruption, malfeasance and cruelty, and who […]
Say you’re a gaming company that released a brand-new console, a throwback to one of your old hits. Suppose it became an instant rousing hit to the point where a lot of people went out of their way to snag one from any store that had it. This is great, right? People actually want your product, a demand which you had not expected from the get-go. What […]
When it comes to repackaging bad loans in the eurozone, 2017 has been a tale of two peripheries. While global investors who had been hoping to buy debt backed by Italy’s non-performing loans have been left disappointed, in Ireland deals are gathering momentum. Lone Star this week priced its latest securitisation of Irish mortgages, with the US private equity firm selling €420m of bonds backed by distressed […]
