Royal Dutch Shell has struck deals worth up to $4.7bn to sell offshore oil and gas assets in the North Sea and Thailand, adding momentum to the debt-reduction programme launched after its $50bn takeover of BG Group. The Anglo-Dutch group said on Tuesday it had agreed to sell a package of UK North Sea assets to Chrysaor, a small British company backed by EIG Partners, a US […]
TOKYO Japan must make public places in Tokyo smoke-free by the time it hosts the 2020 Summer Olympics or risk falling afoul of International Olympic Committee (IOC) rules that call for a healthy games, activists said on Tuesday. Japan’s health minister has said the government is eager to stamp out smoking in public by the time the capital hosts the Olympics. But smoking remains so entrenched there […]
Investors, economists and strategists have begun to question their enthusiasm for Donald Trump’s new administration, following the president’s decision to block entry to the US from seven Muslim-majority countries. Mr Trump’s travel clampdown appeared to knock some of the confidence from markets, after stock indices reached record highs last week following speculation the new president will deliver faster economic growth and accelerating price rises — dubbed “Trumpflation”. […]
By Henning Gloystein | SINGAPORE SINGAPORE Brent crude oil prices fell around 5 percent from their early January peak as rising U.S. drilling activity offset efforts by OPEC and other producers to cut output in an effort to prop up the market. Brent crude futures LCOc1, the international benchmark for oil prices, were trading at $55.25 per barrel at 0112 GMT, virtually unchanged from their last close. […]
January 31, 2017 by: Hudson Lockett in Hong Kong Tuesday 01:50 GMT Overview A shaky Monday for US stocks rolled into Asian trading on Tuesday as confusion persisted over President Donald Trump’s executive order to clampdown in immigration and ahead of the Bank of Japan’s interest rates decision. Hot topic Stock markets remained closed in Hong Kong and China for the lunar new year holiday, but those […]
Your daily guide to community and cultural activities across the Emirates for January 31, 2017, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. newslide Abu Dhabi Fitness offer Bodytree Studio will celebrate Valentine’s Day throughout February with Bring a Buddy to Bodytree, which offers two-for-one prices for drop-in classes, including all morning yoga classes, from Sundays to Thursdays […]
By Gertrude Chavez-Dreyfuss and Anna Irrera | NEW YORK NEW YORK Day traders love making bets on tweets from U.S. President Donald Trump, but some of the most prominent quantitative strategists from hedge funds and banks are not quite ready to make big, bold trades on his social media musings. The president’s active Twitter presence has lifted volatility in financial markets, which is good for day traders […]
An insatiable appetite for mobile apps among the UAE’s tech savvy millennials is fuelling the growth of UAE technology start-ups, says Fahad Al Bannai, CEO of axiom telecom. “What we are witnessing now is a lifestyle evolution, one in which errands are transforming into services, all with the help of mobile apps,” says Al Bannai. “And in the UAE, where app developers are widely available, and entrepreneurship […]
By Lucia Mutikani | WASHINGTON WASHINGTON U.S. consumer spending rose solidly in December as households bought motor vehicles and a range of services amid rising wages, pointing to sustained domestic demand that could spur faster economic growth in early 2017. There are also signs of inflation steadily firming. The strengthening economy, rising price pressures and a tightening labor market could allow the Federal Reserve to lift interest […]
If you love fine dining, then no doubt you have had caviar more than once. The coveted, tiny, black sturgeon fish eggs are synonymous with sophistication and luxury. So it is surprising to learn that – unbeknown to diners – the caviar served at upscale brunches and five-star restaurants often does not taste how it should. “Throughout the UAE, from some of our most renowned customers we […]
European, Asian stocks and S&P futures all drop after traders were left with a sour taste from the potential fallout of Donald Trump’s order halting some immigration and ahead of central bank decisions from the U.S. and Japan. Markets in Hong Kong, China, Malaysia, Korea, Singapore, Taiwan and Vietnam are all shut due to the Lunar New Year public holiday, leading to a quiet Asian session. Oil […]
Monday 08:30 GMT Overview The dollar and Wall Street equity futures are under pressure after data last week showed slower than expected US growth and as traders digest President Donald Trump’s executive order to clamp down on people entering the US from seven predominantly Muslim countries. The sour tone is suppressing stock markets in Europe, though not lifting government bond prices or supporting gold to any great […]
This artist rendering provided by Airbus shows a vehicle in their flying car project, Vahana. Even before George Jetson entranced kids with his flying car, people dreamed of soaring above traffic congestion. Inventors and entrepreneurs have tried and failed to make the dream a reality, but that may be changing. Nearly a dozen companies around the globe, some of them with deep pockets like Airbus, are working […]
Abu Dhabi 29 January 2017 His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, may Allah protect him, issued, as Ruler of Abu Dhabi, a law concerning the Abu Dhabi Government’s financial system. The law seeks to set a comprehensive regulatory framework for public financial resources to guarantee that government work is conducted within an institutional framework with a high level of transparency and […]
By Sinead Carew | NEW YORK NEW YORK In an ordinary world, a U.S. Federal Reserve meeting, jobs data and a hefty number of earnings reports next week would provide investors with welcome distraction from speculation about the U.S. president’s policy plans. But the current world is less than ordinary. In the second week after Donald Trump’s inauguration, issues such as his controversial immigration policies will likely […]
Despite the Trump administration’s chaotic start, there is one man who has every reason to thank the new US president — Haruhiko Kuroda, governor of the Bank of Japan. At a policy meeting this week, Mr Kuroda’s BoJ is set to edge upwards its growth forecasts for Japan, reflecting a Japanese economic outlook transformed by Mr Trump’s election and subsequent weakness in the yen. The US election […]
Podcasting is continuing to grow even as it faces challenges such as lack of diversity and the possibility of an advertising slump. That’s the conclusion of a new report on the state of podcasting from the Knight Foundation, which has invested heavily in the burgeoning medium in recent years. The report, which is based on more than 60 interviews with experts, points to a growing industry that […]
Chinese real estate investment abroad rose by more than half last year to a new high, highlighting the potentially disruptive impact of tighter capital controls imposed late in the year to discourage outbound money flows. Overseas investment from China in residential, commercial and industrial property totalled $33bn in 2016, up 53 per cent from a year earlier, according to global real estate group JLL, as Chinese buyers snapped […]
By Devika Krishna Kumar and Catherine Ngai | NEW YORK NEW YORK Investors have rushed back into North American pipelines after U.S. President Donald Trump revived growth prospects in a sector that struggled to cope with a two-year oil price slump and strident opposition from environmental and Native American activists. Investor confidence in the industry was shaken last year when the administration of former President Barack Obama […]
Propertyfinder Group, the UAE-based real estate search portal, expects unit handovers in Dubai this year to be significantly lower than developers’ official projections. The company said that while this may not be welcome news for off-plan investors hoping to soon pick up their keys, a more protracted handover schedule is better for market stability. “As most local developers rely on purchaser funds to complete the project, the […]
By Ben Hirschler | LONDON LONDON European prices for some off-patent cancer drugs have risen by more than 100 percent in the past five years, with two cases of hikes exceeding 1,000 percent, according to data presented at a medical conference on Saturday. Similar price rises for old drugs have sparked outrage in the United States, where former hedge fund manager Martin Shkreli was pilloried in 2015 […]
A sell-off in eurozone government bonds has left German yields at their highest level in a year, challenging investors who have long become accustomed to low inflation and weak economies keeping market interest rates at record low levels. In France, Germany, Italy, Spain and Austria bond yields have broken through 12-month highs as investors focus on the accelerating pace of inflation, grapple with extra supply and question […]
From the Slope of Hope: Being an equity bear has been brutal for, oh, nearly eight years now. With the S&P up about 250% since bottoming in March 2009, equities have been, on the whole, raging higher, with some sectors in particular benefiting tremendously from the Trumpgasm. One area, though, seems to be recognizing a bitterly cold chill of reality, and that is retail. Not everything retail […]
To make money in the Trump era, it pays to practise what you might call “reality-based investing”. Regardless of how the new president chooses to present events, Donald Trump’s administration still has to operate within legal, political and geopolitical constraints. Successful investors will be those who focus on the legislative and regulatory minutiae and on the realities of creating legislation on Capitol Hill. Trading in the bonds […]
