TOKYO A pause in both the sell-off in global bonds and sharp rise in the dollar following Donald Trump’s election victory, together with Wall Street’s record high overnight helped Asian shares steady on Wednesday from a four-month low struck a day earlier. President-elect Trump’s plans to cut taxes and boost infrastructure spending would boost demand while his proposals to deport illegal immigrants and impose tariffs on cheap […]
|By Matein Khalid| Donald Trump’s shock win will have a profound impact on the GCC economic constellation via multiple feedback loops. His economic policies mean a much higher US dollar, anathema to GCC economies since it correlates with stock/property market crashes, banking stress and oil slumps. This is the macroeconomic linkage due to the GCC US dollar peg whose lessons the region learnt the hard way in […]
|By Arabian Post Staff|Abu Dhabi is considering more mergers to boost its financial services industry after combining National Bank of Abu Dhabi and First Gulf Bank, Bloomberg reported quoting some people with knowledge of the matter. The agency said Abu Dhabi is weighing a plan to merge Abu Dhabi Commercial Bank PJSC and Union National Bank and also combine Abu Dhabi Islamic Bank with Al-Hilal Bank. But […]
By Lauren Hirsch and Liana B. Baker Snapchat has filed for an initial public offering, sources familiar with the situation said on Tuesday, which puts the messaging app a step closer to the biggest U.S. stock market debut since 2014. The Venice, California-based company could go public as soon as March and be valued at $20 billion to $25 billion, making it the largest IPO since Chinese […]
Donald Trump’s election victory heralds the beginning of a new era that will be marked by the retreat of globalisation and rising bond yields, according to Bridgewater’s Ray Dalio. Mr Dalio, the founder of the world’s biggest hedge fund group, said in a note on Tuesday that “there is a good chance that we are at one of those major reversals that last a decade”, similar to […]
“Phase one is the hope phase,” Stephen Cucchiaro, chief investment officer at 3 Edge Asset Management, says of the reaction in financial markets to president-elect Donald Trump. “As it is a while until he’s president, you can hope for fiscal stimulus getting growth going and reawakening animal spirits.” Evidence of exuberance is not hard to find. S&P 500 financials and heathcare stocks are flying; US 10-year Treasury […]
By Corina Pons and Eyanir Chinea | CARACAS CARACAS Multinational companies are selling their Venezuelan operations at hefty discounts – or even giving them away – as they to seek to escape the OPEC nation’s soaring inflation and chronic supply shortages. Six firms, including General Mills and oil producer Harvest Natural Resources, have sold operations for as little as half their assessed value on the companies’ books, […]
A sell-off reverberating through sovereign bond markets tested investor appetite on Monday for a multibillion-dollar corporate bond sale, as money managers wait for volatile price swings to subside. Pfizer successfully completed a $6bn bond sale on Monday but several investors familiar with the sale said interest was subdued by the recent volatility in fixed-income markets, which has seen the yield on both the 10 and 30-year Treasuries […]
SINGAPORE Oil prices rose around 2 percent on Tuesday to move away from multi-month lows struck the day before, pushed higher by expectations of falling shale output and renewed optimism that OPEC will deliver on touted production cuts. U.S. crude futures for December delivery CLc1 had climbed 90 cents, or 2.1 percent, to $44.22 a barrel by 0340 GMT. They struck their lowest in nearly two months […]
With US president-elect Donald Trump’s governing priorities slowly starting to take shape, the US steel industry emerged on Monday as one sector where investors are placing their bullish bets. Three companies — US Steel, AK Steel and iron-ore producer Cliffs Natural Resources — saw their stock ratings upgraded by Morgan Stanley analysts in the wake of last week’s election, pushing their share prices up. Mr Trump’s election […]
After months of sending government troops to battle militants blowing up oil pipelines in the Niger Delta, Muhammadu Buhari tried a different tack. The Nigerian president invited the region’s community leaders and traditional rulers to his villa this month for talks — a step energy sector executives hoped could halt a wave of sabotage since January that has cost the country billions of dollars in damages and […]
Brent crude oil dropped below $44 a barrel on Monday to hit its lowest level for three months, as a strengthening US dollar and doubts over Opec’s ability to agree supply curbs when it meets this month led to funds selling out of the market. Hedge funds and other large speculators have been paring their bets on higher oil prices for the past month, with the latest […]
With oil prices forecast to remain depressed and the Yemen war still raging, Riyadh is more reliant on the success of its Vision 2030 Source link
The UAE’s largest emirates have responded differently to lower oil prices, with Abu Dhabi busy consolidating and Dubai launching projects Source link
NEW YORK A measure of U.S. inflation expectations held mostly steady at low levels in October, with only some momentum higher, according to a Federal Reserve Bank of New York survey taken before Americans voted in this month’s presidential election. The survey of consumer expectations, an increasingly influential gauge of prices for the U.S. central bank, found that inflation is expected to be identical one and three […]
By Elias Glenn and Kevin Yao | BEIJING BEIJING China’s economy largely showed further signs of steadying in October as expected, but disappointing retail sales growth and fears of U.S. trade frictions under incoming President Donald Trump are increasingly clouding the outlook. Fixed-asset investment quickened slightly and beat expectations in January-October as the government stepped up infrastructure spending to support growth, official data showed on Monday. But […]
November 14, 2016 by: Michael Hunter in London and Peter Wells in Hong Kong Monday 10.50 GMT. A conviction that a Donald Trump presidency will deliver higher inflation is dominating market sentiment, lifting world equity markets, energising the dollar and drawing investors out of government bond markets. Yields on Treasuries shot higher in Asian trading, a move that has been sustained in early London trading on Monday […]
Copper recorded its best week in five years as speculators scrambled to reverse bearish bets following the election of Donald Trump as US president, which boosted hopes for more consumption in the western world. The promise of a big infrastructure programme in the US, following a decade of reliance on China, has driven the market to reassess the outlook for copper and other industrial metals such as […]
Snap Inc. — Snapchat’s new name — and Nintendo launched the Spectacles and NES Classic Edition respectively, and they have proved to be some of the hottest tech products this month. The wearable and the retro gaming console are terribly difficult to come by, as they sold like hotcakes when they rolled out. That means there are a lot of disappointed fans out there, and “a lot” is probably […]
RIYADH: Foreign ministers from the six-nation Gulf Cooperation Council (GCC) will this week hold a meeting to draw up the agenda for a summit to be attended by the heads of GCC countries early next month in Bahrain. Collective security, military affairs, regional conflicts and common market as well as falling oil prices will make the agenda of the ministerial meeting.This GCC ministerial meeting, the first after […]
Financial professionals arriving at their desks on Monday morning will have no shortage of views to digest on what the shock election of Donald Trump means for global markets. Having had a few days to consider the implications, economists, market strategists and analysts have penned thousands of words for clients in recent days that attempt to set out what the future holds. As Jan Loeys and his […]
By Richard Leong and Jennifer Ablan | NEW YORK NEW YORK Donald Trump’s stunning victory for the White House may mark the long-awaited end to the more than 30-year-old bull run in bonds, as bets on faster U.S. growth and inflation lead investors to favor stocks over bonds. A two-day thumping wiped out more than $1 trillion across global bond markets worldwide, the worst rout in nearly […]
Investors are betting on a new era of improved US-Russian relations following Donald Trump’s victory in the US presidential election — anticipating that a possible easing of economic sanctions and a reduced risk of capital flight will make the rouble more robust than other emerging market currencies. At the end of last week, the rouble escaped the worst of a brutal sell-off in emerging market currencies that […]
Peter Thiel, the billionaire who became Donald Trump’s most prominent backer in Silicon Valley, made a critical distinction last week. He complained that the media tended to take the man literally, but not seriously. Now that Mr Trump is the president-elect of the US, everyone takes him seriously. And hence it becomes vital to work out whether we should take what he has been saying literally. After […]
