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New research has uncovered large differences between the understanding, attitudes and engagement of UAE investors with different nationalities. The report, carried out by financial solutions provider, Old Mutual International, and investment management firm, Quilter Cheviot, identified UK expats as the most risk averse while non-resident Indians (NRIs) were the most informed on their investment portfolios. The research found that 48 percent of UK expats in the UAE […]

09 December 2016 MARC has affirmed its AAA(bg) and AAA(fg) ratings on Premier Merchandise Sdn Bhd’s (Premier Merchandise) RM300 million 7-year Medium-Term Notes (MTN) Programme (Tranche 1) and RM300 million 9-year MTN Programme (Tranche 2) respectively with a stable outlook. Tranche 1 and Tranche 2 are guaranteed by Malayan Banking Berhad (Maybank) and Danajamin Nasional Berhad (Danajamin) respectively, and the ratings reflect the credit strength of the […]

By Julie Steenhuysen | CHICAGO CHICAGO Cases of microcephaly in Colombia were four times higher this year than last, an increase that coincides with a widespread outbreak of Zika virus in the country, a report released on Friday said. At its peak in July, microcephaly cases in Colombia were nine times higher than in the same month in 2015, according to the U.S. Centers for Disease Control […]

By Luiza Ilie | BUCHAREST BUCHAREST When Romania’s leftist government collapsed a year ago amid outrage over a deadly nightclub fire, many people spied an opportunity for sweeping change in a country plagued by corruption and inept public services. But after the upswelling of public anger over the deaths of 64 people in the Club Colectiv, which lacked emergency exits and fire safety permits, the clamour for […]

Investors made the biggest shift in more than three years into funds that help provide protection against rising interest rates ahead of next week’s meeting of Federal Reserve policymakers who are expected to increase overnight borrowing costs for the first time this year. Funds invested in leveraged loans attracted $1.7bn of inflows in the week to December 7 — the greatest weekly haul since 2013 — figures […]

The US government is to check if sanctions where violated when Russia this week struck a deal to sell a stake in oil producer Rosneft to a consortium of Qatar’s sovereign fund and commodities trader Glencore, the White House said. “The experts at the Department of Treasury that are responsible for constructing and enforcing the sanctions regime will carefully look at a transaction like this,” White House […]

Photo Zar Mohammad Stanikzai, an Afghan who worked as an interpreter and whose application for a United States visa was rejected this year. Credit Andrew Quilty for The New York Times WASHINGTON — After a protracted political debate, Congress passed a measure on Thursday that would offer sanctuary to a fraction of the Afghan interpreters and translators who have risked their lives to help the military. The […]

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FRANKFURT German semiconductor chipmaking machinery company Aixtron (AIXGn.DE) is considering reducing the size of the business with a partial sale, its chief executive said in an interview published on Friday, opening the door for bidders after a deal with a Chinese firm collapsed. “There are two options: First, we could hope that the markets for our products recover and continue investing high sums in new equipment. But […]

By Praveen Menon | KUALA LUMPUR KUALA LUMPUR Malaysian Prime Minister Najib Razak’s stern rebuke to Myanmar for a military-led crackdown on Muslim Rohingyas was a rarity among Southeast Asian nations, who adhere to a policy of non-interference in each other’s domestic affairs. Critics saw the beleaguered Najib reaching for the moral high ground with his criticism over the weekend of Myanmar in order to pander to […]

By Patricia Zengerle | WASHINGTON WASHINGTON Former Secretary of State Hillary Clinton called “fake news” a danger that must be addressed quickly, in a rare public appearance on Thursday, a month after she lost the presidential election in a campaign marked by a flood of such propaganda. “We must stand up for our democracy,” Clinton said during a tribute to retiring Senate Democratic Leader Harry Reid, referring […]

The worst may soon be over for corporate borrowers from the battered US energy industry, according to S&P Global, as a flurry of debt sales suggests investors are confident the Opec supply cut will help put a floor under the oil price. While defaults of energy groups will continue into 2017, analysts with the credit rating agency say they are likely to level out next year and […]

Brexit may have come at the most fortunate time for the GCC. As the Gulf seeks greater support to fend off security risks in the region, including Iranian actions, and avenues to shore up bilateral trade in replacement of lost oil revenues, the UK is reaching out to old friends in a bid to strengthen non-mainland European relationships. “We will make it a priority, when the UK […]

Investors bought firmly into the view that a diverging outlook for interest rates is the key driver for the euro in the wake of the European Central Bank’s extension of quantitative easing, leaving the single currency nursing its biggest one-day drop against the dollar since the UK’s vote to leave the EU. After a knee-jerk 1 per cent leap up in the euro as headlines flashed that […]

Thursday 21:00 GMT Overview The European Central Bank’s latest policy surprise fuelled a volatile session for the euro and government bonds as participants appeared, initially at least, to struggle to assess its implications. But European stocks rose to 11-month highs while Wall Street overcame an early bout of fatigue to set yet more record peaks. Oil prices resumed their upward path, even as a stronger dollar unsettled […]

For emerging markets, fears over the election of Donald Trump have yet to fully materialise. The prevailing view, says Ousmene Mandeng of EM investment fund New Sparta Asset Management, is that a Trump presidency is “negative for emerging markets”. Investors could foresee some benefit from a supply-side US boom that adds to world aggregate demand — but a less co-operative, protectionist US will have a structural negative […]

By freelance contributor Ben Bohane in Ly Son Island Posted December 09, 2016 05:35:32 Photo: Ly Son island, looking out towards the Paracels and Spratlys. (ABC News: Ben Bohane ) Related Story: Vietnam moves rocket launchers into disputed South China Sea: report Related Story: Vietnam expanding South China Sea runway: reports Sparkling on the horizon as our boat navigates the swell is one of the world’s most […]

A 7.7 magnitude earthquake hit off the Solomon Islands early on Friday, triggering a tsunami warning in a wide area of the South Pacific. The quake struck at 4:38 a.m. (1738 GMT Thursday) at a depth of 49 km (30 miles), the U.S. Geological Survey said. It was initially reported to be of magnitude 8.0. “Hazardous tsunami waves from this earthquake are possible within the next three […]

FRANKFURT China’s Fujian Grand Chip Investment Fund has dropped its takeover bid for German chip equipment maker Aixtron after U.S. President Barack Obama blocked the deal. Fujian’s takeover vehicle Grand Chip Investment said on Thursday its offer had lapsed as it had failed to obtain U.S. regulatory approval for the purchase, which had been a condition of the deal. Investors who had already accepted its takeover offer […]

The European Central Bank has decided to scale back its landmark quantitive easing programme from €80bn to €60bn a month, in a move that responds to hawks’ concerns about ultra-loose monetary policy but which could unsettle markets. The bank confirmed that it would buy €80bn a month of bonds under the current leg of the programme until March, but added that it would reduce the purchase size […]

By Ginger Gibson | WASHINGTON WASHINGTON The chances that the federal government could hand off the U.S. air traffic control system to private management are increasing, say advocates who report they are getting supportive feedback from President-elect Donald Trump and his team. U.S. Rep. Bill Shuster, who chairs the House of Representatives Transportation Committee, has met with Trump and incoming Transportation Secretary Elaine Chao to make his […]

The UK’s National Grid has agreed to sell a 61 per cent stake in its gas distribution network to a consortium of global investors, a deal that will plug the 11m homes the network serves into investors such as China’s sovereign wealth fund and Australian investment bank Macquarie. The terms of the transaction imply an enterprise value for the division of around £13.8bn including debt. The investment […]

By Ju-min Park and Jack Kim | SEOUL SEOUL South Korea’s parliament introduced a bill on Thursday to impeach President Park Geun-hye, setting the stage for a historic vote to oust the embattled leader engulfed in an influence-peddling scandal. Parliament is expected to vote on Friday in favour of impeachment, although the Constitutional Court must decide whether to uphold the motion, a process that could take up […]

The Singapore Exchange was hit by its second disruption this year with the start of trading in some derivatives contracts delayed by over two hours on Thursday morning. It is the latest in a series of technical failures that have become an increasing source of embarrassment in one of Asia’s main financial centres. Most recently, SGX in July halted trading on its securities market for five hours […]

SYDNEY Asian shares hustled to one-month highs on Thursday after Wall Street strode to another record, while bonds rallied on wagers the European Central Bank would extend its stimulus campaign at a policy meeting later in the session. Risk appetite got an extra boost when China reported upbeat trade figures with exports and imports both beating forecasts. Resource imports were very strong, a major reason prices for […]

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