Asian stocks rose, with the regional benchmark index trading near a four-month high, before the Federal Reserve decides later today whether to slow its $85 billion of monthly asset purchases. Mitsui O.S.K. Lines Ltd. and Fanuc Corp. rose at least 2.7 percent in Tokyo as industrial companies led gains on the Asia-Pacific benchmark index. Kawasaki Heavy Industries Ltd. surged 4.2 percent to a six-year high amid unconfirmed […]
Last week was a key week not only for key economic data points, but the outcome of the G20 summit in St Petersburg which centered on the U.S.’s campaign to drum up last minute support for imminent military action in Syria. Markets particularly in the MENA region have been on tenterhooks with volatility prevailing in MENA indices including Turkey. The Lira reached a record low at 2.0841 […]
India’s newly installed central bank Governor Raghuram Rajan burnished his international credentials at a 2005 U.S. conference warning about the danger of a potential crisis. Now he has one of his own to contend with. Rajan, 50, joined the front lines of a battle to forestall a record slump in the rupee yesterday with a package of measures that may lure $10 billion in foreign-exchange inflows over […]
By Peter Garnry, Equity Strategist at Saxo Bank Microsoft’s acquisition of Nokia’s mobile division means three things. It is a good deal for Nokia. It has the potential to be a disaster for Microsoft. As for BlackBerry, the deal means that patent portfolio may be the only valuable asset. Nokia, the once largest mobile manufacturer in the world, has seen its mobile division deteriorate since 2007. Operating […]
US Secretary of State John Kerry has accused Syrian government forces of killing 1,429 people in a chemical weapons attack in Damascus last week. Kerry said the dead included 426 children, and described the attack as an “inconceivable horror”. President Barack Obama later said the US was considering a “limited narrow act” in response. Syria has dismissed Mr Kerry’s statement as “full of lies”, insisting the rebels […]
India’s incoming central bank Governor Raghuram Rajan has little room to use borrowing costs to spur Asia’s third-largest economy as the rupee plummets, interest-rate swaps show. The cost to lock in rates for a year using the contracts surged 267 basis points this quarter to 10.16 percent yesterday as investors bet the Reserve Bank of India will prolong a cash crunch it created to shore up the […]
Gulf stock markets stabilised by the close on Wednesday after plunging in early trade on the prospect of an escalation of Syria’s civil war, as the United States threatened a military strike on Damascus over the use of chemical weapons. Stocks had also tumbled on Tuesday and selling resumed on Wednesday morning as local retail investors, who have dominated trade in recent weeks, scrambled to lock in […]
The goal of a single rule book for Europe’s banks is splintering even before it’s implemented as northern countries move ahead with tougher requirements to ward off the next boom-to-bust cycle. Sweden’s too-big-to-fail banks, which already face stricter capital rules than their competitors elsewhere, may be told to hold even larger reserves, Financial Markets Minister Peter Norman said yesterday. In Denmark, Business Minister Henrik Sass Larsen said […]
The Indian rupee hit a record low and shares slumped on Tuesday after parliament’s approval of a $20 billion plan to provide cheap grain to the poor renewed doubts about the government’s resolve to control spending ahead of elections due next year. The alarm over India’s fiscal deficit eclipsed an announcement by Finance Minister P. Chidambaram that the government had approved infrastructure projects worth 1.83 trillion rupees […]
Iran is raising its exports of iron ore and iron products to China and India in an attempt to replace at least a small part of the massive revenue that has been lost due to sanctions on its oil sales. While Iran’s oil exports have halved in the last few years due to western sanctions over the country’s disputed nuclear program, iron ore exports have grown by […]
Stock markets in the United Arab Emirates and Qatar rose to new multi-year highs on Thursday despite a sell-off in emerging markets around the world, as retail investors in the Gulf bought selected stocks viewed as laggards. Egypt’s bourse rose on the back of a reduction in street violence. “It’s a good surprise to see that the most internationally-linked markets like UAE have been resilient despite the […]
The Internet Corporation for Assigned Names and Numbers (ICANN) has decided to ban the use of dotless domain names. In a resolution issued earlier this week, the non-profit organization defined dotless domains to mean “consist of a single label and require the inclusion of, for example, an A, AAAA, or MX, record in the apex of a TLD zone in the DNS.” In plainer terms, this means Internet […]
By David Kirkpatrick CAIRO — Gathering Thursday morning around a mosque used as a morgue for hundreds killed the day before, many Islamists waited confidently for a surge of sympathetic support from the broader public. But it failed to materialize. With their leaders jailed or silent, Islamists reeled in shock at the worst mass killing in Egypt’s modern history. By Thursday night, health officials had counted 638 […]
The UAE executive spearheading efforts to develop a series of eye-catching ‘underwater hotels’ at locations around the world has revealed the project has attracted ‘huge’ interest, including an offer to develop several properties for the Chinese market. Khamis Juma Buamim, chairman of Dubai industrial giant Drydocks World and Maritime World, says the collaboration between his firm and European company Deep Ocean Technology on new properties dubbed ‘water […]
New figures have revealed an addiction to technology amongst UAE residents, with 71% stating that they could not live without their laptops or smartphones. Commissioned by dmg events Middle East as it gears up for the December launch of the region’s largest consumer lifestyle event – The Life & Style Show UAE – the survey provides unique insight into the attitudes of UAE residents towards all-things tech. […]
Even people who are relatively happy at work go through periods when they hate their jobs—for days, weeks or even months at a time. Just read between the lines of the recent obituaries of CBS newsman Mike Wallace, who died on April 7 at the age of 93. As The New York Times reported, Wallace suffered a nervous breakdown when his documentary on deception by the American […]
Social media platforms allow customer networks to be bigger, faster and better organized. They increase the downside of getting service wrong and the upside of getting it right. The effects are both direct and indirect. Zappos generates so much buzz with its fantastic service experience that the company can spend significantly less on marketing than its rivals. This virtuous service cycle spins faster because we get to […]
PARIS—Investors abandoned Peugeot SA in droves Friday, driving its share price to its lowest level in over a quarter century, as a potential credit downgrade and a worsening outlook for the European car market overshadowed the company’s plans to shed 8% of its French workforce. Moody’s Investors Service Inc. warned Friday that it will study a possible lowering of Peugeot’s debt rating because of the worsening cash […]
“This has shaken our company to the core,” CEO Jamie Dimon said. The bank said managers tied to the bad trade had been dismissed without severance pay and that it planned to revoke two years’ worth of pay from each of those executives. JPMorgan said it had lost $US4.4 billion because of the trade from April through June, and its chief financial officer said the bank had […]
