By Henning Gloystein | SINGAPORE SINGAPORE Oil prices were stable on Friday as evidence increased that producers in the Middle East were informing customers of upcoming supply cuts as part of a coordinated effort to drain a global glut. But since any production cuts will only hit markets early next year and Iraq is still raising sales to Asia, analysts at Goldman Sachs said that the price […]
If you or someone on your holiday list wants flagship smartphone at a discounted price, B&H has some great deals to check out. The retailer is offering the Samsung Galaxy S7, S7 edge, LG G5, Google Nexus 6P, and free extras as part of its holiday sale. ( Samsung ) For anyone looking to get a great deal on some of the most popular flagship smartphones, B&H […]
Chinese government bond yields retreated slightly after the central bank eased a credit squeeze that has been exacerbated by the US Federal Reserve’s rate increase. On Friday morning the People’s Bank of China injected a net Rmb45bn ($6.5bn) into the interbank market through reverse repos, bringing total net injections for the week to Rmb250bn. This marked a reversal from last week when the central bank drained more than […]
YOKOHAMA, Japan Nissan Motor Co (7201.T) Chief Executive Carlos Ghosn said on Friday he expected the Japanese automaker to post record sales in 2017, which would be a strong year for the auto industry despite volatility in currency and commodity markets. Ghosn also said he was confident that U.S. trade policy under President-elect Donald Trump would continue to promote strong ties with Mexico, where Nissan operates production […]
Investors have piled into Russian equity and bond funds over the past week as oil prices have rallied and President-elect Donald Trump named an oil executive with close ties to Vladimir Putin as US secretary of state. Russian stock funds recorded inflows of $451m in the week to December 14, the biggest weekly haul since the first quarter of 2011, according to EPFR. Mutual funds and exchange […]
By Kiyoshi Takenaka and Katya Golubkova | TOKYO TOKYO Japanese Prime Minister Shinzo Abe and Russian President Vladimir Putin hold a second day of talks on Friday after Abe made little headway a day earlier in his quest to resolve a territorial row that has festered since World War Two. Putin looked set to come away with a slew of economic deals and achieve what experts said […]
By Diane Bartz and Sarah N. Lynch | WASHINGTON WASHINGTON Two years after high generic drug prices became a public controversy, legal cases are starting to land. Twenty states filed a lawsuit Thursday against Mylan NV (MYL.O), Teva Pharmaceuticals (TEVA.TA) and four other generic drug makers, saying they conspired over steak dinners and “girls nights out” on pricing of two common generic drugs, according to a copy […]
Theluxurycloset.com which buys, sells and consigns personal pre-owned luxury goods at discounted prices has launched an app to complement its existing e-commerce platform. The decision to create an app was taken after research carried out by the brand showed that over 70 percent of customers in the region shop from their mobile phones. Free to download on the App Store, the app has an upgraded Sell With […]
Qatar expects to post a budget deficit of 28.3 billion riyals ($7.8 billion) in 2017, the finance ministry said on Thursday, in a sign of the lingering toll of low global oil prices on Gulf economies. Finance Minister Ali Shareef al-Emadi said that revenues were estimated at 170.1 billion riyals while expenditure was estimated at 198.4 billion riyals, state news agency QNA said. The gas-rich Gulf state […]
Everyone is gaga over the idea of frictionless grocery shopping: tap your phone on a turnstile device upon entry, retrieve food from the shelves, and walk out; your bill is charged to the credit card connected to your device. No waiting in line; no chit chat as your groceries are rung up. In other words, say hello to Amazon Go, which will be tested in […]
The indulgent experience took to new heights as people thronged to complete their Christmas shopping December 15, 2016; Dubai, UAE With the air thick with anticipation, pre-Christmas shoppers streamed into the Concept Big Brand Carnival as the event opened to public today. The shopping extravaganza was kick started by popular Bollywood singer Mika Singh in the presence of numerous fans, who lent further glamour and oomph to […]
Thursday 11:00 GMT Overview Stock markets are trading cautiously as Treasury yields hit fresh highs after the Federal Reserve’s decision to raise interest rates for only the second time since the financial crisis. The prospect of the US central bank perhaps having to tighten policy faster than expected to reflect any additional boost to growth from president-elect Trump’s fiscal plans is lifting the dollar to a 14-year […]
The Australian Minister for Communications Mitch Fifield has called on the Australian Competition and Consumer Commission (ACCC) to only declare domestic mobile roaming if there is an overwhelming case for it, and not simply as a result of a “balance of probabilities”. “I am concerned that there is a real risk that any declaration will lead to an erosion of long-term benefits for all consumers including those […]
By Howard Schneider and Lindsay Dunsmuir | WASHINGTON WASHINGTON The U.S. Federal Reserve raised interest rates on Wednesday and signaled a faster pace of increases in 2017 as central bankers adapted to the incoming Trump administration’s promises of tax cuts, spending and deregulation. The increase in the federal funds rate to a range of between 0.50 percent and 0.75 percent was widely expected. But the prospect of […]
Steve Garey, who retired from the Anacortes refinery in 2015 after almost 25 years and served as president of the United Steelworkers local, said that while some positive changes were made after the 2010 accident, upper management at Tesoro remains “contemptuous” of its work force and is “hiding behind incredibly permissive process safety regulations.” Those regulations grew out of a string of catastrophic events in the 1980s, […]
Long-term borrowing costs for lower-quality US investment-grade companies are nearing 5 per cent — the highest level in nine months — as investors anticipate rising inflation and higher growth, reversing from the six-decade low touched earlier this year. The average yield on the closely followed Moody’s Baa index has climbed to 4.9 per cent, the highest since March when the US credit market slowly recovered from a […]
Saudi Arabia’s 2017 state budget is likely to show Riyadh has shrunk a huge deficit caused by cheap oil faster than expected, which may let it spend more to bolster a shaky economy This year was one of the most painful for the Saudi economy in decades. Growth slowed sharply and speculators bet against the Saudi currency as the government fought to curb a deficit that totalled […]
December 14, 2016 by: Robin Harding in Tokyo Optimism at Japanese companies is on the rise for the first time in 18 months after Donald Trump’s election as US president breathed new life into the country’s drive to escape deflation. The Bank of Japan’s closely watched tankan index for large manufacturers rose from +6 to +10 in December, the first increase since the second quarter of 2015, […]
The emirate of Abu Dhabi reintroduced a 5 percent cap on annual rent increases on Tuesday in an effort to protect tenants from unjustified hikes, after abolishing the cap three years ago. After 18 months of relatively stable conditions, real estate prices showed signs of declining in the three months to June 30 as low oil prices slowed Abu Dhabi’s economy, consultancy JLL said in July. “Rents […]
Submitted by Lance Roberts via RealInvestmentAdvice.com, During my morning reading, I ran across an interesting article from Paul Lim via Time giving several reasons why the stock market will “rise for a ninth straight year.” “For ordinary Americans, 2017 is likely to feel like the best year economically since the Great Recession. The recovery is finally expected to trickle down to you in the form of […]
Low interest rates pose one of the biggest threats to the US economy and expose investors to the potential for heavy loses from a price shock across a range of markets, according to an independent arm of the US Treasury. The concerns are raised in the Office of Financial Research’s annual financial stability report to Congress, which concludes that threats to stability remain “in a medium range”. […]
The Saudi Electricity Company (SEC) is reportedly planning to install pre-paid electricity meters for new subscribers. Company spokesman Abdullah Al Rakaf said the move was part of wider plans to cut electricity consumption, according to Saudi Gazette. Installing pre-paid meters in customers’ homes will enable them to control their electricity consumption by re-charging the meter according to monthly needs. SEC will be publishing a statement setting out […]
Wall Street looked set to open higher on Tuesday, as investors keep a close watch of the Federal Reserve’s two-day meeting where it is widely expected to raise interest rates for the second time since the financial crisis. A hike of 25 basis points in the Fed’s target range of 0.25-0.50 percent is priced in, but investors will be examining the Fed’s statement and economic forecasts for […]
Demand for oil will outstrip supply in the next six months as long as Opec and countries outside the cartel can implement a deal signed over the weekend to lower output, according to one of the world’s leading energy forecasters. The International Energy Agency said the planned production cuts, which add up to 1.8m barrels a day, could reduce stockpiles by as much as 600,000 b/d over […]
