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Falcon 2017-1 prices $410 million of Loans Dubai, U.A.E., 2 February 2017  Falcon Aerospace Limited and Falcon Aerospace USA LLC (“Falcon 2017-1” or “Borrowers”) will issue $410 million of asset-backed secured term Loans. The Borrowers expect to use the proceeds to purchase 21 in-production, narrow-body aircraft. Dubai Aerospace Enterprise (DAE) Ltd will act as servicer for the transaction. Mr. Firoz Tarapore, Chief Executive Officer of DAE said: […]

By Yashaswini Swamynathan U.S. stocks slipped on Thursday, as bank stocks fell after the Federal Reserve provided little clarity into whether it would raise interest rates at its next meeting, even as the central bank painted an upbeat picture of the economy. The Fed, which left interest rates unchanged on Wednesday, gave no firm signal of a hike in March as it closely watches the impact of […]

The Bank of England kept its key interest rate at 0.25%, gilt purchase program at GBP435BN, and corporate-bond plan at GBP10b, voting 9-0 on all 3 decisions. The BOE also raises growth forecasts, while keeping its inflation forecasts broadly unchanged, and said the current policy stance “depended on the trade-off between above-target inflation and slack in the economy.” The central banks also reiterated that “monetary policy could […]

ULAANBAATAR/HONG KONG Private citizens in Mongolia are donating cash, jewelry, gold and even horses to help the government make a near $600 million payment to bondholders next month. The cash-strapped nation has been embroiled in an economic crisis brought about by a collapse in foreign investment, slowing growth in China and weak commodity prices. Its currency, the tugrik, lost nearly a quarter of its value last year. […]

By Christopher Johnson | LONDON LONDON Oil prices rose on Thursday as evidence that OPEC and other big exporters were cutting production outweighed a sharp rise in U.S. crude and gasoline stockpiles. Brent crude was up 50 cents at $57.30 a barrel by 1115 GMT (6:15 a.m. ET) after settling up $1.22 in the previous session. U.S. light crude gained 30 cents to $54.18 after climbing by […]

Chocolate industry executives breathed a collective sigh of relief earlier this year after the impact of the bankruptcy of a key cocoa industry player at the end of 2016 remained muted as a result of a weak cocoa market. Expectations of bumper supplies from west Africa, the leading regional producer of cocoa beans, have been weighing on bean prices of the key chocolate ingredient. This has helped […]

ROME World food prices rose to a near two-year high in January, driven by surges in sugar quotations and export prices for cereals and vegetable oils, the United Nations food agency said on Thursday. The Food and Agriculture Organization’s (FAO) food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 173.8 points in January, versus a revised 170.2 […]

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Almost a decade on from the financial crisis, a global deadline for reform of the $544tn derivatives market has triggered a last-minute scramble by hundreds of small banks, insurers and pension funds. Many of these institutions use bespoke derivatives such as swaps to protect their operations from sudden changes in asset prices. In a month’s time they face higher costs and regulatory burdens. Plenty are not ready. […]

TOKYO Asian shares inched up to four-month highs while the dollar was finding its feet on Thursday after the U.S. Federal Reserve stuck to its mildly upbeat economic view but gave no hint of accelerating rate hikes. While strong economic data from the United States and elsewhere have underpinned risk assets, uncertainty and concerns over U.S. President Donald Trump’s policies have markets on edge. “With many of […]

February 2, 2017 by: Hudson Lockett in Hong Kong Thursday 02.00 GMT Overview Stock markets were mixed in Asia after the US Federal Reserve left interest rates unchanged but hinted at further rises this year. The Australian dollar gained against its US counterpart on data showing a record trade surplus, while oil pared back some of Wednesday’s gains. Hot topic The Australian dollar gained 0.6 per cent […]

By Lindsay Dunsmuir and Jason Lange | WASHINGTON WASHINGTON The Federal Reserve kept interest rates unchanged on Wednesday in its first meeting since President Donald Trump took office, but painted a relatively upbeat picture of the U.S. economy that suggested it was on track to tighten monetary policy this year. The central bank said job gains remained solid, inflation had increased and economic confidence was rising, although […]

The Federal Reserve signalled it remains on course for further increases in short-term interest rates this year as inflation heads back towards target, even as it avoided giving strong indications on the timing of the next move. The US central bank’s Federal Open Market Committee left the federal funds target range at 0.5 per cent to 0.75 per cent in a unanimous decision, following a quarter-point increase […]

Investors demanded a higher premium to hold France’s debt instead of Germany on Wednesday, reflecting a combination of political uncertainty and concerns over the outlook for inflation and central bank debt purchases. A series of upcoming elections in Europe, combined with worries that inflation pressures are picking up, have pushed down eurozone bond prices since the start of the year, with France becoming a notable laggard. The […]

Dubai Islamic Bank, the largest sharia-compliant bank in the United Arab Emirates, has appointed banks ahead of a potential benchmark-sized US dollar sukuk sale, banking sources familiar with the situation said on Wednesday. The group of banks arranging the deal includes Bank ABC, Boubyan Bank, Emirates NBD, HSBC, Maybank, National Bank of Abu Dhabi, Sharjah Islamic Bank and Standard Chartered, the sources said, speaking on condition of […]

China’s stock market regulator has accelerated approvals for initial public offerings in recent months but market watchers say that long-awaited deregulation of the process is still years away. IPO fundraising in Shanghai and Shenzhen has totalled Rmb87bn ($13bn) since November, the biggest three-month total since the second quarter of 2015, when China’s stock market bubble reached its height.  The surge of new offerings reflects the relative stability of China’s […]

Telling the opposition not to ‘mislead’ Malaysians, the BN’s strategic communications team says pump prices are based on the prices of refined oil, not crude oil. KUALA LUMPUR: The price of petrol has gone up because the price of refined petrol has increased, even though crude oil prices have dropped. In refuting allegations by the opposition, the Barisan Nasional Strategic Communications Team said today Malaysians used refined […]

The oil industry is zeroing in on a prospective tax shift in Washington that has the potential to upend energy flows around the world.  The “border adjustment tax” (BAT) put forth by Republican lawmakers and embraced sporadically by President Donald Trump would radically change the way companies are levied, taxing imports and exempting exports in the world’s biggest economy. While the Trump administration’s stance on BAT has […]

Wednesday 06:00 GMT Overview Stock markets across Asia were mixed after disappointing earnings and weak US data pushed Wall Street lower overnight. European bourses are expected to open higher, with spreadbetters predicting the UK’s FTSE 100 will add 34 points to 7,133 and Germany’s Dax to gain 70 points to 11,605. The rebound comes after Wall Street climbed sharply off its session lows on Tuesday, and index […]

By Sinead Carew and Jamie McGeever | NEW YORK/LONDON NEW YORK/LONDON U.S. President Donald Trump and a top economics adviser on Tuesday unleashed a barrage of criticism against Germany, Japan and China, saying the three key U.S. trading partners were engaged in devaluing their currencies to the harm of American companies and consumers. The comments from Trump at the end of a White House meeting with pharmaceutical […]

The three largest Omani banks – BankMuscat, Bank Dhofar and National Bank of Oman – face pressure on profitability from slowing economic growth and increased demand for Islamic finance, Moody’s warned on Tuesday. Growing appetite for Islamic finance is intensifying competition for products and placing the banks under pressure, a report from the rating agency argued. However, it added that BankMuscat, Oman’s largest bank by assets, was […]

Capital Group, one of the world’s biggest investment groups and a cornerstone backer of upstart stock exchange IEX, wants the incoming Trump administration to stymie high-frequency traders by overhauling one of the US equity market’s biggest but controversial regulatory planks. Matt Lyons, global head of trading at $1.4tn Capital Group, was a big supporter of the anti-HFT exchange made famous by Michael Lewis’s book Flash Boys, making […]

Written by Anees Jillani | Published:February 1, 2017 12:31 am Pakistani Prime Minister Nawaz Sharif (File Photo) Since January 4, a five-member Bench headed by the second seniormost judge of the Supreme Court of Pakistan has been hearing for three hours every day petitions alleging corruption by Prime Minister Nawaz Sharif, filed by the chairman of the Pakistan Tehreek-e-Insaaf (PTI) Imran Khan, and the head of the […]

OSLO Oslo’s main trash incinerator has shown promising results in the world’s first experiment to capture greenhouse gases from the fumes of burning rubbish as a new way to slow climate change, officials said on Tuesday. If built at full scale, however, the technology would be a very costly way to limit carbon dioxide emissions as part of an international agreement to curb global warming reached by […]

ExxonMobil has become the second large oil company to report earnings well below analysts’ expectations, following Chevron on Friday. Exxon’s earnings per share were 41 cents for the fourth quarter of 2016, with net income of $1.68bn, 40 per cent lower than expected. The average of analysts’ forecasts was for earnings per share of 70 cents in the quarter. The lower than expected earnings came after a […]

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