Oil prices surged above $57 a barrel for the first time since July 2015 on Monday, rallying as much as 6.5 per cent after the Opec cartel clinched a long-sought supply pact with Russia and other big crude exporters. Russia led a loose coalition oil producers from outside Opec, including Oman, Mexico and Kazakhstan, in an agreement signed this weekend to reduce supply by 558,000 barrels a […]
The prospect of a more aggressive Federal Reserve and a surge in the oil price hit global bonds on Monday, sending the yield on the benchmark 10-year Treasury note above 2.5 per cent for the first time since 2014. Treasuries have led a sharp sell-off in sovereign bonds since Donald Trump’s victory in last month’s US election, raising the prospect that Fed officials will have to raise […]
Goldman Sachs said the formal agreement by non-OPEC oil producers this weekend in Vienna to help curb output was reached with a goal of “normalization” of inventories and not necessarily just at raising oil prices. The Organization of the Petroleum Exporting Countries (OPEC) had previously agreed to cut output by 1.2 million barrels per day (bpd), and on Saturday, 11 non-OPEC producers agreed to join the effort […]
12 December 2016 Ras Al Khaimah, United Arab Emirates–(ME NewsWire)– Julphar Gulf Pharmaceutical Industries launched the antibiotic Voxin during a launch event, which was held at the Raffles Hotel, Dubai on November 25th 2016. “Voxin (Levofloxacin) is a fluoroquinolone antibiotic that is indicated for the treatment of lower respiratory tract infections and sinusitis in adult patients,” said Dr Hosam Badr, Director of Marketing at Julphar. “Voxin (Levofloxacin) […]
This is part of a series on the global rise of exchange traded funds Each day, the investing public hears news of the latest developments in exchange traded index funds (ETFs). But rare is the mention of traditional index funds, which I call Tifs, although the acronym has yet to gain acceptance. In 1976, I created the first Tif. It was named First Index Investment Trust (now […]
The NSW Department of Industry’s Division of Resources and Energy (DRE) has tasked Singapore-based data startup Latize with helping it transform mining safety and incident analysis processes using data intelligence. While the value of the contract has not been disclosed, Latize said DRE is the first local government client it has acquired since opening up an office in Sydney in June. The deal comes at a time […]
Monday 02.15 GMT Overview Markets around Asia were mostly higher, buoyed by a surge in oil prices and following on from another set of records for Wall Street on Friday. Hot topic Ahead of the Federal Reserve’s policy meeting on Wednesday, government bond yields are hovering at their highest levels in months. Of note, the yield (which moves inversely to price) on the benchmark 10-year US Treasury […]
Photo: Bullit Marquez, AP FILE – In this Dec. 2, 2016, file photo, protesters burn a mock American flag during a protest against the planned joint US-Philippines military exercise in central Philippines in front of the U.S. Embassy in Manila, Philippines. The Philippines has again thumbed its nose at the U.S., its longtime defense ally, saying it won’t be used as a springboard for U.S. ships and […]
First it was the Fed, then the ECB (which last week tapered when it reduced the monthly amount of bond purchases under its QE program). Now attention shifts to the Bank of Japan, because as the WSJ writes, one of central banking’s most aggressive easers – Kuroda’s Bank of Japan – may soon have to think about tightening for the first time since 2007. While it has […]
The first global crude supply pact in 15 years has underlined the growing energy alliance between Saudi Arabia and Russia, as the depth of the two-year oil slump forces co-operation between once unlikely partners. Russia led the main oil producers from outside the Opec cartel, including Mexico and Kazakhstan, in a deal signed this weekend to reduce supply by 568,000 barrels a day — with Moscow, the […]
Opec has won the backing of countries outside the oil cartel to join supply cuts for the first time since 2001, overcoming the final major obstacle for a global agreement to curb output. Russia, the biggest oil exporter outside the group, alongside 10 other countries such as Mexico, Oman and Azerbaijan on Saturday agreed to reduce their production by 558,000 barrels a day. A new geopolitical dynamic […]
Developers behind a $190.5 million affordable housing project in Dubai have announced that 50 percent of its second phase of homes have been sold within a week. MAG 5 Property Development, a real-estate company formed jointly by MAG Property Development and MBM Holding, announced the sales success for its MAG 5 Boulevard project at Dubai South. This is the first community project developed by MAG 5 Property […]
Saudi Arabian non-oil private sector growth rebounded in November following a back-to-back slowdown in September and October, according to a new survey. Data from the Emirates NBD Saudi Arabia Purchasing Managers’ Index (PMI) showed that utput, new orders, purchasing activity and input stocks all rose sharply and at faster rates than in the prior month. That said, the expansions remained weaker than their respective averages. Subsequently, the […]
Our round-up of the week’s best comment and analysis from the Financial Times focuses on the expectations of boom times for US stocks, the troubles of active fund managers and Italy’s dilemma after the referendum. The selection is taken from our Markets Insight and Smart Money columns, written by industry contributors and FT commentators. US stocks may be at record levels but there is no end to […]
Photo Alexander Novak, Russia’s energy minister, left, with Khalid Al-Falih, Saudi Arabia’s energy and industry minister, after OPEC members and 12 other countries met in Vienna, Austria, on Saturday. Credit Lisi Niesner/European Pressphoto Agency Russia and other oil producers agreed on Saturday to join OPEC nations in a rare, coordinated reduction in oil output meant to lift petroleum prices and revenues to shore up their sagging government […]
By Caroline Valetkevitch | NEW YORK NEW YORK Next week’s Federal Reserve meeting and possible signals on the pace of rate hikes for next year could pose the biggest risk yet to the rally the U.S. stock market has seen since last month’s presidential election. While investors have long anticipated the Fed will raise rates at the Dec. 13-14 meeting – in what would be its first […]
Kuwait’s emir appointed Essam Abdul Mohsen Al-Marzouq as the country’s new oil minister on Saturday, state news agency KUNA reported. Marzouq has previously served as head of the country’s stock exchange and as a board member of state-run Kuwait Petroleum Corp (KPC). Opposition candidates won around half of the parliament’s 50 seats last month in a poll seen by Kuwaitis as a referendum on austerity measures brought […]
The Moto Z Force Droid Edition, see my full review, was launched in August and it demonstrated that a functional modular design was possible. I then purchased my own GSM Moto Z, but returned it because it was priced too high, the battery wasn’t large enough, and I wasn’t sure when it would get updated to Android 7 Nougat. I bought my first 2013 Moto X because […]
Ahead of next week, here are the big questions we are asking at FT Markets What signal will the Federal Reserve send? The last US central bank meeting of the year will unfold on Wednesday with all eyes on officials’ latest assessment of the economy and the press conference of Fed chief Janet Yellen. Plenty has changed since their previous gathering just before the US election. Dollar […]
Donald Trump has picked Andrew Liveris, the chief executive of Dow Chemical, to lead his advisory council on manufacturing, giving him a connection to the new administration at a time when he is trying to secure approvals for a complex $130bn merger with DuPont. Mr Liveris previously served in a similar advisory role for President Barack Obama. At a rally in an arena in Michigan on Friday […]
By Dominic Evans and Stephanie Nebehay | BAGHDAD/GENEVA BAGHDAD/GENEVA The Iraqi army said it took full control of two more districts of east Mosul on Saturday, pushing back Islamic State militants in a slow and hard-fought advance into the city whose 1 million residents face growing shortages of fuel, water and food. A military statement said elite Counter Terrorism Service (CTS) troops took over the neighbourhoods of […]
VIENNA OPEC and non-OPEC producers on Saturday reached their first deal since 2001 to curtail oil output jointly and ease a global glut after more than two years of low prices that overstretched many budgets and spurred unrest in some countries. With the deal finally signed after almost a year of arguing within the Organization of the Petroleum Exporting Countries and mistrust in the willingness of non-OPEC […]
Patience and preparation are the key to a great deal. Buying a new PC or Mac is a major purchase, potentially costing $1500 or more. Top-of-the-line new designs like the Microsoft Surface Book and Apple’s MacBook Pro (2016) can easily approach a $3000 list price. But you don’t have to pay that sticker price. With a little preparation and some patience, you can save 30, 40, even […]
US biotechnology stocks have surrendered much of the gains accrued in the wake of last month’s presidential election after comments from Donald Trump stoked concerns that the incoming administration will crack down on rising drug prices. The Nasdaq biotechnology index has skidded almost 4 per cent from Tuesday’s closing level after the president-elect told Time Magazine that he does not “like what has happened with drug prices” […]
