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Londoners of finance, pondering hard-Brexit relocation options, can turn to the quality of life ranking of the world’s top cities provided in Deutsche Bank’s sixth annual survey of global prices. If Wellington, New Zealand, doesn’t offer tantalising opportunities for corporate bond syndicate origination, or outlets for euro swap-clearing back-office expertise, perhaps second-placed Edinburgh is a better option for a post-UK future. Fans of John Irving will be […]

GENEVA Yemen faces a “famine of Biblical proportions”, veteran aid expert Jan Egeland warned on Wednesday during a visit to the war-battered nation, expressing fury over the failure of the “men with guns and power” to end the crisis. Yemen’s two years of civil war have pitted the Iran-aligned Houthi rebel group against a Saudi-backed coalition, causing economic collapse and severely restricting the food and fuel imports […]

Saudi Arabia said Tuesday that it will issue a quarterly budget progress report for the first time as part of efforts to boost transparency while diversifying its oil-dependent economy. The world’s biggest oil exporter is wooing investors as it tries to reduce budget deficits caused by a collapse in energy revenues. “We will for the first time in Saudi announce, possibly in a couple of weeks or […]

By Karolin Schaps | LONDON LONDON Oil prices rebounded from near 2017 lows on Wednesday after preliminary data showed a much higher-than-expected fall in U.S. crude stocks, reviving bullish sentiment about easing oversupply. Benchmark Brent crude LCOc1 was up 37 cents at $50.83 a barrel at 0815 GMT. On Tuesday the futures had settled at their lowest since Nov. 30, when the Organization of the Petroleum Exporting […]

OPEC and allied oil producers should extend their collective production cuts into the second half of the year when an expected upturn in demand will help to re-balance the crude market, UAE Energy Minister Suhail Al Mazrouei said. All countries participating in the cuts must agree to any extension, he said Tuesday in the UAE capital Abu Dhabi. The Organization of Petroleum Exporting Countries and other major […]

As the United States adapts to the presidency of Donald Trump and faces rising tensions abroad, Berkshire Hathaway Inc shareholders will descend on Omaha, Nebraska this weekend seeking reassurance, from Warren Buffett. The weekend known as “Woodstock for Capitalists” is unique in corporate America, a celebration of the billionaire’s image and success at a conglomerate whose businesses range from Geico insurance to the BNSF railroad to See’s […]

The OnePlus 5 is among the most hotly anticipated smartphones of this year and the company’s CEO just posted the first teaser, touting a “big surprise.” With the LG G6 and the Samsung Galaxy S8 out of the bag, one of the most rumored smartphones yet to debut is the OnePlus 5, which is expected to hit the scene sometime in the second half of this year. OnePlus […]

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By Nichola Saminather | SINGAPORE SINGAPORE Asian stocks followed global indexes higher on Wednesday, as strong earnings and manufacturing data boosted risk appetite, while expectations that the Federal Reserve will signal a June rate increase later in the session lifted the dollar. Oil prices pulled higher after a sharp fall on Tuesday on technical selling in a market already worried about oversupply and following a rise in […]

By Anya George Tharakan and Stephen Nellis Apple Inc (AAPL.O) reported a surprise fall in iPhone sales for its second quarter on Tuesday, indicating that customers may have held back purchases in anticipation of the 10th-anniversary edition of the company’s most important product later this year. Shares of the world’s most valuable listed company were down 2.1 percent at $144.37 in after-hours trading. Under pressure from shareholders […]

US wheat prices jumped 8 per cent in two days as worries over the damage caused by a late winter storm prompted a scramble to cover bearish bets. More than 30cm of snow that hit western Kansas, southeastern Colorado and western Oklahoma toppled plants just ahead of the winter wheat harvest. Hard red winter wheat, the high-quality grain that is used to make bread and mainly grown […]

Organisers of a music festival in The Bahamas that was billed as a luxury getaway but collapsed in chaos have been hit with a $100 million (Dh367 million) lawsuit alleging fraud. The Fyre Festival was aborted Friday after hundreds of partygoers — with some paying more than $100,000 per person — arrived only to find relief-camp style tents and rudimentary sandwiches rather than the promised lavish experience. […]

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 […]

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