Qatar is regaining its appetite for deals. In the past two months alone, the world’s richest country per capita invested in Turkey’s biggest poultry producer, Russian oil giant Rosneft PJSC, and U.K. gas company National Grid Plc. The investments have been made through the Qatar Investment Authority, created in 2005 to handle the country’s windfall from liquefied natural gas sales, of which it is the world’s biggest exporter. […]
Revolutions are only relevant until the next revolution comes along. Over the past decade, the smartphone revolution has fundamentally upended daily life. Walk through any public space and you will find people of all backgrounds transfixed by pocket-sized, rectangular obelisks. These little wonder slabs magically connect us to the rest of humanity and are personal windows into the digital ghost dimension that flows beneath civilization’s surface. […]
There is a reason Rolls-Royce Motors appointed its youngest-ever chief executive in 2010. “I don’t want to say the brand would die, but the brand would never have had the success it has had over the last couple of years if we hadn’t rejuvenated it,” CEO Torsten Müller-Ötvös boasts. He is probably right. Until a couple of years ago, the English automobile brand was predominantly known as […]
Citadel Securities, one of the largest traders on the US equity market, has agreed to pay $22.6m with US markets regulators to settle charges it misled customers over the prices they were getting for some of their deals. The Securities and Exchange Commission said on Friday that two of the algorithms Citadel used to execute orders on behalf of retail investors had not sought to obtain the […]
President of Nintendo Tatsumi Kimishima reacts after his speech during a presentation event of Nintendo Switch in Tokyo, Friday, Jan. 13, 2017. Nintendo Co. said Friday that its Nintendo Switch video game console will sell for 29,980 yen (about $260) in Japan, starting March 3. (AP Photo/Koji Sasahara) Nintendo is trying to Switch it up. The Japanese video-game company revealed details Friday about its hotly anticipated Nintendo […]
By Jonathan Stempel | NEW HAVEN, Conn. NEW HAVEN, Conn. A former Jefferies Group Inc bond trader being tried a second time for defrauding clients about prices of mortgage bonds should be convicted because he lied repeatedly to his own customers to boost profits, a U.S. prosecutor argued on Friday. Jesse Litvak, 42, was “motivated by greed,” and it was no excuse that other traders might have […]
By Trevor Hunnicutt | NEW YORK NEW YORK BlackRock Inc (BLK.N), the world’s biggest asset manager, reported better-than-expected quarterly profits on Friday as it clamped down on expenses and investors stormed into lower-cost funds to take advantage of a year-end rally. Investors poured $88 billion into the company’s market-tracking index investments and its iShares exchange-traded funds during the quarter, while pulling $546 million from funds managed actively […]
By Jamie McGeever | LONDON LONDON European and U.S. stocks looked to end a sluggish week on a high note on Friday, while the dollar was on track for its biggest weekly fall in two months and U.S. bond yields eyed their longest run of weekly declines since July. Investors largely shrugged off figures that showed Chinese exports fell the most last year since 2009, and will […]
OPEC is unlikely to deliver fully on its target to cut production despite Saudi Arabia saying it had trimmed more than it had committed to, OPEC delegates say, but compliance of 80 percent would be good and as low as 50 percent acceptable. The Organization of the Petroleum Exporting Countries is planning to cut its output by 1.2 million barrels per day to 32.50 million bpd from […]
PUTRAJAYA: When stall supervisor Eda Umar first met the late Tan Sri Adenan Satem at the Rasa Alamanda Foodcourt here in 2014, she did not know he was the Chief Minister of Sarawak. What she did come to know was that he loved her sizzling yee mee. “His favourite was the black sauce chicken yee mee with mushrooms,” recollected Eda, a qualified chef who personally attended to […]
Donald Trump’s upcoming presidency has led many investors to size up oil, coal and gold trades that could benefit from the sweeping changes he has promised. But a growing band of specialist commodity traders think investors may be overlooking the one raw material in line for bigger price gains than others when the US president-elect takes office: uranium. While interest in the key fuel for nuclear power […]
Oil continued its see-saw start to the new year, registering its biggest advance in six weeks on Thursday after Opec’s biggest producer said that it had slashed output to the lowest level in almost two years. Brent, the global oil market, rose as much as $1.24 to $56.43 a barrel after Saudi Arabia’s energy minister Khalid al-Falih said that the kingdom had cut production to less than […]
ADVERTISEMENT Ever felt lost while shopping in Dubai for your winter holiday? We’ve been there. And here’s everything we’ve learned on where to go for the best deals and prices: Best for price: Decathlon: Luckily for those who don’t want to spend a fortune on ski clothes, French brand Decathlon opened a shop in Ibn Battuta last year in addition to its existing one in Mirdif City […]
A classic distinction in markets exists between bulls and bears, the snorting herd of enthusiasts and the pessimists who roar at them from caves, waiting for a panicked stampede. Yet a sign of the uncertain outlook, with the consequences of the incoming Trump administration unknown, elections due in Europe and Brexit still to begin, may be how those labels don’t fit quite as easily as before. For […]
By Mohamed Zaki and Mohamed Abd El-Ghany | CAIRO CAIRO In an economic crisis that has led to a shortage of medicines, Egyptians are skipping trips to drug stores and instead turning to herbal remedies to treat every-day illnesses. In the Cairo working class neighborhood of Basateen, dozens can be seen lining up outside a decades-old herbal spice shop with pyramid-shaped stacks of jars on display, filled […]
Car sales in China are forecast to slow sharply this year as stimulus measures designed to boost demand are set to end. Sales are expected to increase 5 per cent in 2017, a significant drop from growth of 13.7 per cent last year, which was the fastest rate since 2013 despite a broader economic slowdown. Growth in 2016 exceeded expectations due to tax incentives on smaller vehicles, […]
Global investors sold the dollar and sought government bonds and gold on Thursday in the wake of Donald Trump’s pre-inauguration press conference, revealing the first sign of buyers remorse for a reflation rally that has dominated global markets since early November. Mr Trump’s press conference, his first as president-elect, was held in New York’s Trump Tower on Wednesday and was dominated by his ties to Russia, his […]
Having publicly trashed the US economy’s performance during the presidential campaign, Donald Trump has become its most prominent cheerleader. The president-elect has in recent weeks claimed credit for surging consumer confidence, stellar equity prices and stronger end-of-year household spending, arguing there was “no hope” before he arrived on the scene. To Barack Obama’s supporters, claims from Mr Trump that the US was cloaked in economic gloom before […]
Thursday 08:40 GMT Overview The dollar, Treasury yields and equities are lower — with pharmaceutical groups in the firing line — as traders question the “Trumpflation trade” following the US president-elect’s fractious press conference on Wednesday. The yen is stronger, signalling waning risk appetite among traders, while gold is back above $1,200, a seven-week high. Hot topic Investors are reassessing the implications of a Trump presidency. Markets […]
Foreclosure proceedings affected nearly a million U.S. homes and other real estate last year, down 14 percent from 2015 and down 70 percent from the worst of the housing crisis in 2009, a report released Thursday shows. Foreclosures hit a 10-year low and property owners in all but 15 states experienced fewer of the early stages of foreclosure, usually begun after owners have missed four mortgage payments, […]
By Emily Chow | SUNGKAI, Malaysia SUNGKAI, Malaysia The Malaysian plantation district of Sungkai has become an initial – and unlikely – battleground for an election that embattled Prime Minister Najib Razak is expected to call this year. Sungkai is home to ethnic Malays who work for the national palm plantation operator, Federal Land Development Authority (Felda). Known as “Felda settlers”, they have long been among the […]
|By Arabian Post Staff| Although smartphone sales growth rate is slowing down worldwide, the Middle East and North Africa (MENA) region is witnessing an increase in sales. Smartphone shipment to the MENA region reached 171.2 million in 2016, up from 157.5 million, according to Statista.com – a global portal of statistics that collects information from 18,000 sources. This also means that the Middle East mobile market is […]
Staff costs are rising faster than beer prices and its market faces intense competition. Still, Hong Kong investors sent Bar Pacific soaring as much as 1,600 per cent on its debut for the best-ever opening day by a pub group anywhere in the world. The group, which specialises in local neighbourhood bars rather than the glitzy city centre offerings more usually associated with Hong Kong, raised HK$45.2m […]
By EconMatters We discuss the Carry Trade, ultimate demise of the European Union, answer viewer questions, touch on the oil market, and dog financial media for the rating`s whores that they truly are in this video. There is some buy the rumor, sell the news effect in the oil market today, but we are still pretty bearish on the fundamentals of the industry, and the current supply […]
