The surge in British pound after Prime Minister Theresa May’s surprise election call has started to impact remittance from UAE’s high net worth individuals (HNWI) and corporates to the UK, a senior UAE Exchange official has said. The sterling hit $1.2876 against the dollar on Tuesday – its highest level since early October 2016. The currency remained steady at the same level on Wednesday. “Since the pound […]
Investor sentiment is leaning towards a market-friendly outcome ahead of Sunday’s first round of voting in the French presidential election. The euro was on course for its best week in three months near $1.07, while a key proxy of election risk, the premium demanded by investors to own French government bonds over German Bunds, has narrowed sharply. “The most likely outcome is for a second round run-off […]
As an ardent Brexiter, Simon Boyd did not support Theresa May to be prime minister. After all, she not only sat out the UK’s EU referendum contest last June but quietly voiced support for key arguments to remain in the bloc. But now Mr Boyd, the managing director of a specialty steelmaker in south-west England and regional head of a pro-Brexit business group, has the zeal of […]
Good morning. Program changes are same old The swashbuckling Murdochs now look as milquetoast as old media rivals whom they upended and disdain. With the belated firing of Bill O’Reilly, the monarchical lords of 21st Century Fox turned 1990s with their initial programming decisions. Yes, you can easily make dumb decisions when you’re king of any media hill and a financial juggernaut. But the initial post-O’Reilly programming […]
Yet another wildlife species has fallen victim to a deadly fungus that could potentially result in significant biodiversity loss. Nearly a month after Tech Times reported about three species of Texas bats carrying the Pd fungus, putting them at risk for the lethal white nose syndrome, biologists warn salamanders are in danger of being decimated. Researchers at the University of Zurich in Switzerland reveal that fire salamander populations […]
SYDNEY U.S. Vice President Mike Pence is expected to discuss trade and regional security when he meets Australian Prime Minister Malcolm Turnbull on Saturday, Australian officials said. Pence arrives in Australia late on Friday for the last stop on his 10-day tour of U.S. allies in the Asia-Pacific region that has included a series of roundtables with leading business executives in South Korea, Japan, and Indonesia. His […]
HMH – Hospitality Management Holding is all set for a strong presence at Arabian Travel Market 2017 (ATM). 21 April 2017HMH – Hospitality Management Holding is all set for a strong presence at Arabian Travel Market 2017 (ATM). Mr Ferghal Purcell, COO of HMH, said, “We have a number of strategic announcements lined up for ATM this year that is the MENA region’s largest B2B travel and […]
Friday 08:30 BST What you need to know ● European and Asian stock markets firm after Wall Street rally● Euro holds above $1.07 in cautious trading ahead of French election● Bund yields up 1bp to 0.25 per cent despite political tensions● Global steelmakers shrug off Trump tariff threat● Oil prices gain but gold pulls back——————- Hot topic Investor attention is turning to eurozone assets ahead of Sunday’s […]
ABU DHABI // Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, held bilateral talks with Russian president Vladimir Putin in Moscow on Thursday to discuss efforts to bring about an end to conflicts in the region as well as increasing security cooperation and economic ties. The UAE is Russia’s closest partner in the GCC, and Moscow has […]
The London Metal Exchange, facing falling trading volumes and tougher competition, plans to ask its members to evaluate wide-ranging reforms that are intensifying a robust internal debate over its future. The 140-year institution is set to outline proposed reforms in the coming weeks, evaluating almost all aspects of its business, including whether it should become more similar to rivals such as the CME Group, the world’s largest […]
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, and Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, attend the wedding of Sheikh Zayed bin Hamdan bin Zayed Al Nahyan, along with other 190 Emirati brides and bridegrooms, at Mushrif Palace on Wednesday. Saeed Al Neyadi / Crown Prince Court – Abu Dhab Sheikh Mohammed bin Zayed, […]
The pound was last worth $1.30 on September 30, a day when lawyers were lining up to derail Brexit in the courts, a resilient consumer was challenging economists’ dire post-referendum predictions and carmaker Nissan was demanding compensation for staying in the UK. Investors have become familiar with such Brexit unpredictability. Yet few of them could have guessed how sterling, tweeted by Nordea analyst Martin Enlund as “the […]
By Maiya Keidan and Jemima Kelly | LONDON LONDON Hedge funds lost out on Tuesday after British Prime Minister Theresa May shocked markets by calling a snap election, but those led by humans outsmarted those led by machines, in a reversal of fortunes from the Brexit referendum. While computer-driven hedge funds garnered plaudits for their outperformance in the wake of Britain’s shock vote to leave the European […]
The Federal Trade Commission has sent warnings to Instagram celebrities, prompting them to clearly state which of their posts are sponsored. When following celebrities on Instagram, it can get tough at times to distinguish which of their posts are regular and which are paid ads. This could change soon enough, if the FTC has its way. Instagram Celebrities, The FTC Is Watching The FTC has sent more […]
US mortgage group Ocwen has lost more than half its market value after the Consumer Financial Protection Bureau sued it over “systemic” misconduct, a reminder of the power wielded by the Washington regulator that Republicans have vowed to rein in. Several states are also taking action as they prepare to revoke operating licenses for the New York-listed company, which was founded in 1988 and employs more than […]
By David Lawder | WASHINGTON WASHINGTON World financial leaders gathered in Washington on Thursday with pledges to work with U.S. President Donald Trump to fix lingering trade problems while vowing to keep their commitments to free trade and global integration. Worries over Trump’s approach to trade, taxes, financial regulation and climate change clouded the start of the International Monetary Fund and World Bank spring meetings, even amid […]
The US has set the stage for a global showdown over steel, launching a national security investigation that could lead to sweeping tariffs on steel imports in what would be the first significant act of economic protectionism by President Donald Trump. The decision to use a 1962 law allowing the US government to limit imports that threaten its security readiness is intended to deliver on Mr Trump’s […]
Following years of acrimony between OPEC and the hedge fund community, which the cartel dismissed simply as “speculators”, things suddenly changed in 2016 when the two groups got so close, there were outright reports of collusion between the two on various occasions. We documented this last month in “Why OPEC Is Colluding With Hedge Funds.” However, as Reuters’ energy analyst John Kemp pointed out on twitter this […]
Wall Street still exudes widespread optimism that 2017 will provide another year of solid if unspectacular economic growth and only gentle interest rate rises. With the S&P 500 up over 4.5 per cent for the year, here is a series of charts that will hearten investors of a more bearish persuasion. While there are good reasons why each chart should not be taken too seriously, together they […]
It’s springtime. Flowers are blooming, birds are chirping, and love is in the air. That can only mean one thing: It’s time to send pictures of your bits and pieces! If you’ve ever used your phone to send someone special a picture of your thing(s), you’re not alone. Data shows that sexting is a highly popular pastime enjoyed by men and women alike. As you […]
By Roberta Rampton | JAKARTA JAKARTA U.S. Vice President Mike Pence toured Southeast Asia’s largest mosque on Thursday during a visit to Indonesia, calling the Muslim-majority nation’s tradition of following a moderate form of Islam “an inspiration to the world”. Pence, an evangelical Christian, has sought to use his trip to soften some of the harsher edges of rhetoric about the Muslim world used by U.S. President […]
Thursday 08:00 BST What you need to know ● European bourses soft despite positive Asia session and as US futures steady● Energy shares under pressure as oil struggles to recover from sell-off ● Dollar soft as sterling and euro shrug off election concerns● Sovereign bond yields hold near recent lows ● Gold prices add 0.1 per cent to $1,281 an ounce——————- Hot topic Oil prices are steadier […]
Residents driving on the Sheikh Zayed Highway going to Dubai from Abu Dhabi hit heavy traffic this morning due to an accident near Al Safa 2. Commuters driving from Mall of the Emirates to Dubai World Trade Centre were told to expect delays of up to 45 minutes. Those finding other ways into Dubai from the Northern Emirates along Sheikh Mohammed bin Zayed Road could save time […]
April 20, 2017 The UAE Banks Federation (UBF), a professional body representing 49 member banks operating in the UAE, today hosted a high-level delegation from SWIFT, the global provider of secure financial messaging services. The delegation – led by Mr. Alain Raes, Chief Executive for Europe, Middle East and Africa and Asia Pacific for SWIFT – met with UBF’s executive management and chairmen of concerned technical committees […]
