A 3D-printed logo for Twitter is seen in this picture illustration made in Zenica, Bosnia and Herzegovina on January 26, 2016. Reuters/Dado Ruvic/Illustration/File Photo Twitter Inc is in talks with the NBA, Major League Soccer and Time Warner Inc’s cable network Turner Broadcasting to buy digital streaming rights for content related to major sports and events, Recode reported. This content could either be actual game footage or […]
A Nintendo video game logo is seen at the Electronic Entertainment Expo, or E3, in Los Angeles, California, United States, June 17, 2015. Reuters/Lucy Nicholson TOKYO Shares in Japan’s Nintendo Co surged on Friday as consumers flocked to try out its new Pokemon GO smartphone game, raising hopes that the company’s long-awaited shift into mobile gaming will pay off. Seeking to protect its console business, the Japanese […]
|By Matein Khalid| The merger of Abu Dhabi banks First Gulf Bank and NBAD creates the largest bank in the Middle East, a regional colossus with $170 billion in assets, competitive funding cost in the global interbank/capital markets and a market value greater than Credit Suisse, Standard Chartered Bank (SCB) and Deutsche Bank. This is the biggest game changer event in UAE banking and finance since the […]
|By Matein Khalid| David Cameron, Wall Street’s elite, Mutti Merkel, Obama, the Eurocrats of Brussels, the great and the good of the City and the IMF’s Lady Christine all got it so horribly wrong. I slept Thursday night with sterling at 1.50 on New York and awoke to see it trade at 1.34 on Friday, a 30 year low before the Plaza Accords. Britain has voted to […]
Beijing’s patent regulator has ordered Apple to stop selling its iPhone 6 and iPhone 6 Plus in the city because their design too closely resembles that of a Chinese phone. Apple is appealing the ruling, which marks the latest challenge to the tech company in its second-largest market. The two iPhone models violated design patents held by Chinese device maker Shenzhen Baili because of similarities in external […]
|By Matein Khalid| Sterling sell off in the world currency markets and the sheer populist appeal of Boris Johnson suggests the world should not rule out a geopolitical shock that will unnerve financial markets and lead to the mother of all rate cuts at the Bank of England. If Britain votes to leave the EU, the only currency I want to own is the Swiss franc and gold, […]
Deal Professor By STEVEN DAVIDOFF SOLOMON It’s hard to get one’s head around it: An initial public offering that would value a company in the trillions of dollars. That’s trillions, with a T. Saudi Arabia is considering selling shares in its state oil company. With 261 billion barrels of oil in reserves and a yearly output of over three billion barrels of oil, the company, Saudi Aramco, […]
The logo of Intel is seen during the annual Computex computer exhibition in Taipei, Taiwan June 1, 2016. Reuters/Tyrone Siu Apple Inc’s next iPhone will use modems chips from Intel Corp, replacing those made by Qualcomm Inc in some versions of the new smartphone, Bloomberg reported, citing people familiar with the matter. Intel’s modem chips will be in iPhones used on AT&T Inc’s U.S. network and some […]
The company logo is shown at the headquarters of Oracle Corporation in Redwood City, California, February 2, 2010. Reuters/Robert Galbraith/Files Oracle Corp was sued on Wednesday by a former senior finance manager who claimed she was terminated in retaliation for complaining about improper accounting practices in Oracle’s cloud services business. Shares of Oracle fell about 2.6 percent to $39.23 in after-hours trading. In a complaint filed in […]
Michael Dell, chief executive of Dell Inc, delivers his keynote speech at the All Things Oracle OpenWorld Summit in San Francisco, California September 25, 2013. Reuters/Jana Asenbrennerova/File Photo WILMINGTON, Del Michael Dell and Silver Lake Partners underpriced their 2013 $24.9 billion buyout of Dell Inc by about 22 percent and may have to pay tens of millions to investors who opposed the deal for the computer maker, […]
|By Matein Khalid| In retrospect, 2016 will go down in German political and economic history as a significant game changer, on the scale of 1989 (fall of the Berlin Wall), 1990 (reunification) and 1999 (the Euro), even 1945 (launch of Deutschemark), 1945 (Third Reich surrenders), 1943 (Stalingrad) and 1933 (Hitler elected). Chancellor Merkel, renamed Mutti Multi kulti, allowed a million migrants to settle in Germany. The far right […]
Dubai: Dubai Parks and Resorts said on Tuesday its Dh1.68 billion rights issue was oversubscribed 1,25 times at the end of trading on May 23, underlining strong investor support. Total subscription as at close of May 23 amounted to Dh2.1 billion, the company said in a statement. The rights issue is intended to primarily finance the development of Six Flags Dubai, […]
A GoPro Hero 3+ camera is seen at the Nasdaq Market Site before before GoPro Inc’s IPO in New York City, June 26, 2014. Reuters/Mike Segar SAN FRANCISCO Shares of GoPro Inc (GPRO.O) got a lift on Tuesday after the struggling action camera maker said it was partnering with extreme sports sponsor Red Bull in a marketing and promotion deal. Briefly a Wall Street favorite following an […]
|By Matein Khalid| If ever there was a year to win or lose money big time in emerging markets, 2016 was it. As an investor in the world’s dark alleys (the Third World rebranded as EM!), I am forced to dissect geopolitical, government/monetary policy, foreign exchange, flows, positioning and current account, volatility and credit cycle trends across emerging markets to develop money making strategies. It helps that I […]
Reuters/Jim Urquhart/Files SAN FRANCISCO Republican presidential candidate Donald Trump on Tuesday warned that a dangerous financial bubble has formed in the technology industry – and Silicon Valley responded with a collective eye roll. In a Reuters interview, the New York billionaire said technology start-ups that had never earned a profit were able to sell shares at very high prices, likening the situation to the overheated […]
Reuters/Dado Ruvic Twitter Inc (TWTR.N) users will soon have more flexibility in writing tweets because the company plans to stop including photos and links as part of its 140-character limit, according to a Bloomberg report. The social media platform has faced stagnant user growth. Months earlier, Twitter Chief Executive Jack Dorsey said the company would simplify its product in an effort to attract new users. […]
Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) revealed a more than $1 billion stake in Apple Inc (AAPL.O) in a rare foray into the technology sector, which Buffett has largely shunned apart from a poorly performing investment in IBM (IBM.N). Shares of Apple rose 3.7 percent on the news, closing up $3.36 at $93.88. Berkshire made its investment in the first quarter, before the iPhone maker in April […]
Markets move ‘sideways-to-soft’ ahead of Ramadan amid fears international markets will not be robust Dubai: UAE indices fell on Monday, extending losses for another session as traders repositioned themselves ahead of the Ramadan season. The Dubai Financial Market General Index (DFMGI) closed 0.43 per cent lower at 3,290.37, while the Abu Dhabi Securities Exchange General index closed 0.66 per cent lower at 4,345.31. “UAE markets are moving […]
Among the apps and other innovations Google expects to highlight during its I/O 2016 developer conference in Mountain View, Calif., this week is Project Tango, its technology for bringing “a new kind of spatial perception” to the Android device platform. Google is planning “a big expansion” of the project it first unveiled in 2014, according to a report by Bloomberg last week. Much like Google Maps enables […]
Reuters/Denis Balibouse/File photo SAN FRANCISCO Warren Buffett struck media gold with a 2012 investment in debt-laden Media General Inc. Now the famed investor may try to reprise that success by supporting a bid for Yahoo Inc’s Internet assets. The Berkshire Hathaway Inc chairman is backing a consortium that includes Quicken Loans Inc founder Dan Gilbert, that is seeking to buy Yahoo’s online portfolio, Reuters reported […]
Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City, January 29, 2016. Reuters/Mike Segar/File Photo Amazon.com Inc launched a service on Tuesday that allows users to post videos and earn royalties from them, setting up the world’s biggest online retailer to compete directly with Alphabet Inc’s YouTube. The service, called Amazon Video Direct, will make the uploaded videos available to rent […]
|By Arabian Post Staff|In further signs of consolidation by pro-reform Saudi Deputy Crown Prince Mohammed bin Salman, Saudi Arabia’s King Salman ordered the replacement of his central bank chief and Oil Minister Ali Al-Naimi, the most influential personality of the oil industry yet. The moves are understood to be influenced by the sweeping economic changes spearheaded by the Deputy Crown Prince as part of his visionary plan […]
|By Matein Khalid| Habib Bank Ltd is one of the Pakistan’s oldest, biggest retail/corporate banks, privatized last year with a 51% controlling stake held by the Aga Khan Fund for Economic Development. Its recent price fall from 240 to 172 rupees (PKR, not INR!) is a compelling opportunity to own an undervalued, well managed proxy for consumption and credit offtake in a 190 million population country now […]
