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 […]
On Wall Street, Donald Trump’s election win spelt pain for the dollar and stock markets right up until the moment he began his acceptance speech in the early hours of November 9 at the New York Hilton. Then the dollar began a trough-to-peak surge that would leave it up almost 3 per cent, a performance only bettered in 2016 on the day after the Brexit vote. S&P […]
It would be premature to decide whether an agreement among OPEC and non-OPEC oil producers to cut output, reached late last year, needs to be extended beyond six months, the United Arab Emirates’ energy minister said on Wednesday. Speaking at an oil industry conference, Suhail bin Mohammed al-Mazroui said there needed to be competition in the oil market and trying to fix the market to achieve a […]
Wednesday 08:30 GMT Overview European stocks and US index futures are lacking momentum, while government bond yields see minimal moves, as traders appear wary of making bold bets ahead of a press conference later in the day from US president-elect Donald Trump. The dollar is steady against the euro but the Turkish lira has hit another record low. Industrial commodity prices mostly are holding recent gains. Hot […]
Saudi Arabia plans to follow its record breaking debut on global debt markets with an Islamic bond issue in a sale that could come as early as February. The sharia-compliant sukuk will form part of a pipeline of bond sales to finance the kingdom’s budget deficit and invest in economic diversification away from oil and is likely to appeal to regional investors in the Gulf. Last year, […]
MEXICO CITY Pranksters changed the name of Mexico’s lower house of Congress to the “Chamber of Rats” on Google Maps on Tuesday in the latest dig at the political class during a testing start to the year for the country’s government. The lower house, also known as the Chamber of Deputies, became the “Chamber of Rats”, using the Spanish word “rata,” which is also slang for thief […]
Economic growth will slow in Bahrain throughout 2017 and the government will continue to post large deficits as social instability limits opportunities for effective spending cuts, according to new research. In two separate reports this week, BMI Research warns that domestic instability in Bahrain will cause revenues to remain low by historical standards, even as oil prices start to recover. BMI forecasts Bahrain’s budget deficit to come […]
ABU DHABI // A new law was passed by the Federal National Council to protect domestic products from imports being sold for less than what is considered fair market value. The anti-dumping law will add indirect taxes to balance prices and allow local companies to sue over such practices. It applies to products imported from countries outside the GCC. The aim is to set standards for fair […]
Your daily guide to community and cultural activities across the Emirates for January 11, 2017, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. newslide Ajman Wedding fair Attend the opening of The Ajman Palace Hotel Wedding Fair, which features more than 50 vendors, designers and wedding planners from around the country catering to luxury weddings. Following the ribbon-cutting […]
Since the start of the 21st century the South American nation of Suriname, population 540,000, has been riding a commodity boom that yielded major benefits for a country rich in bauxite, gold, oil and bananas. From 2000 to 2014, annual per capita income more than quintupled to almost $10,000. Child mortality fell by a third. A child born there today can expect to live to 70, up […]
The FTSE 100 notched up its longest run of record highs on Tuesday as another low for sterling helped the UK’s blue-chip index outperform European peers. The main London benchmark added 0.5 per cent, up 37.7 points to 7,275.47. It was the FTSE’s ninth consecutive record-high close as well as its 11th consecutive gain, a winning streak it has only equalled three times — in 1997, 2004 […]
The debate about “fake news” has gripped politics since the election of Donald Trump in November and has entered markets as investors spar over a “great rotation” from bonds into stocks. Long predicted by some analysts, expectations of a pronounced rotation out of low-yielding bonds and defensive share sectors into areas of the equity market that prosper from faster economic growth have been heightened by the prospect […]
For more evidence that central bank intervention in the foreign exchange market is increasingly becoming an exercise in futility – look no further than Mexico. The peso briefly sank to a fresh all time low against the dollar on Tuesday, dropping by as much as 1.1 per cent to MXN 21.6227, as concerns continue to mount over incoming US president Donald Trump’s trade rhetoric towards Mexico, report […]
By Parisa Hafezi | ANKARA ANKARA The death of former president Ali Akbar Hashemi Rafsanjani deprives Iran’s reformers of a powerful ally, boosting anti-Western hardliners before a presidential election which will determine how open Tehran is to the world. The loss of Rafsanjani’s skills as a factional powerbroker also means rivalries in Iran’s unwieldy dual system of clerical and republican rule could grow unchecked, testing the stability […]
Over 13 years, consumption of gasoline rose in countries that lowered taxes or raised subsidies The average tax on petrol in 157 nations fell 13 percent from 2003 to 2015, even as the world acknowledged the need to slash greenhouse gases from fossil fuels, researchers reported Monday. Over 13 years, consumption of gasoline rose in countries that lowered taxes or raised subsidies, they said in a study […]
PARIS French cosmetics group L’Oreal (OREP.PA) is acquiring three specialized skincare brands – CeraVe, AcneFree and Ambi – from Canada’s Valeant Pharmaceuticals International (VRX.TO) for $1.3 billion in cash to expand into one of the fastest growing areas of the beauty industry. The French cosmetics giant paid nearly eight times the brand’s combined annual revenue of $168 million. “These three brands, built on strong relationships with health […]
The Federal Reserve should be ready to consider reducing the size of its balance sheet as part of its efforts to prevent overheating in the US, a senior policymaker said as he noted the pick-up in wage inflation and predicted a return of inflation to target by the end of the year. Eric Rosengren, the president of the Federal Reserve Bank of Boston, said that if the […]
Tuesday 02:10 GMT Overview Stock and currency markets across Asia were mixed as Wall Street again pulled back from record highs, leaving the Dow Jones Industrial Average shy of the 20,000 milestone. Hot topic Producer price inflation in China continued to climb, with data showing wholesale prices rose in December at their fastest pace since September 2011. The producer price index was up 5.5 per cent year […]
By David Morgan | WASHINGTON WASHINGTON U.S. House of Representatives Speaker Paul Ryan and top members of President-elect Donald Trump’s transition team on Monday discussed a controversial plan to tax imports during an evening meeting on Capitol Hill, a Trump adviser said. Trump’s incoming chief strategist Stephen Bannon said the meeting examined two provisions of Ryan’s “Better Way” tax reform blueprint, including a border-adjustability measure intended to […]
By Tom Miles | GENEVA GENEVA Smoking costs the global economy more than $1 trillion a year, and will kill one third more people by 2030 than it does now, according to a study by the World Health Organization and the U.S. National Cancer Institute published on Tuesday. That cost far outweighs global revenues from tobacco taxes, which the WHO estimated at about $269 billion in 2013-2014. […]
