Iraq, the second-largest oil producer in OPEC, will shoulder part of the burden of output cuts outlined by the group in September, Prime Minister Haider Al-Abadi said. “Iraq will cut its output to preserve prices,” Al-Abadi told reporters in Baghdad on Wednesday. The country wants OPEC to reduce production by a total of 900,000 barrels a day when it meets next week in Vienna because the crude-market […]
Mexico can expect a windfall of as much as $2.9bn next month from its annual oil hedging programme, but that will be dwarfed by an expected bonanza from the central bank that could pour close to $20bn into government coffers in April, analysts say. For a government facing bitter spending cuts, an increasingly uncertain economic outlook, sharply lower growth prospects next year and the threat of a […]
Impala Asset Management, the $2.2bn hedge fund run by George Soros’s former chief investment officer, is benefiting from bets that an overhaul of America’s infrastructure and sustained demand from China will buoy appetite for commodities. Robert Bishop, who founded Impala in 2004, said they decided infrastructure would be a win whoever won the US election, but doubly so in the case of Donald Trump, a real estate […]
Hold your real assets outside of the banking system in one of many private international facilities –> https://www.sprottmoney.com/intlstorage Posted with permission and written by John Rubino All this talk of massive new infrastructure spending financed with a tsunami of freshly-minted currency should be lighting a fire under gold. That it hasn’t is a testament to how out-of-whack the precious metals market […]
A record run of declines; its worst performance since last year’s surprise devaluation and eight-year lows plumbed on a near-daily basis. Whichever way you cut it, China’s currency is having a testing month. However, unlike the infamous devaluation ruckus in August 2015, and the turmoil in markets that followed renminbi weakness in January, investors are not panicking this time. At least not yet. This month the offshore […]
China’s handling of its state reserves of raw materials such as cotton and sugar will be a key factor shaping the direction of agricultural commodities in 2017, according to a major lender to agribusinesses. China is “the most striking wildcard” that will drive agricultural markets, said Stefan Vogel, head of agri commodity markets at Rabobank, the Dutch lender that is a leading financier to farmers and agribusinesses […]
SYDNEY Asian stocks crept to one-week highs on Wednesday as investors tried to share in the exuberance of Wall Street, where the three main indices seized record peaks for a second straight session. Australia’s main index led the early action with a rise of 0.5 percent to a one-month top, helped by strength in bulk commodity prices. Japan’s Nikkei .N225 was closed for a holiday after enjoying […]
Global lenders’ need to cut the mounting cost of running their swaps portfolios has turned what was once a cottage industry into a cornerstone of the global derivatives industry. BGC Partners, the US interdealer broker, became the latest to underline this trend after revealing the value of interest rate swaptions it had torn up for banks this year more than trebled to $3.5tn. A swaption gives a […]
Jeddah, Kingdom of Saudi Arabia, 22 November 2016 President of the Republic of Benin, H.E. Patrice Talon, paid an official visit to the Islamic Development Bank (IsDB) Group headquarters in Jeddah today. He was officially welcomed by IsDB President, Dr. Bandar Hajjar, as well as Vice Presidents and heads of the Bank’s entities. President Talon expressed his country’s willingness to scale up ongoing cooperation with the IsDB […]
Investors pushed US equity benchmarks further into record territory on Tuesday, buoyed by expectations of a hefty economic spending plan by the incoming Republican administration. The S&P 500 rose 0.2 per cent to 2,203 in the opening minutes of trading while the Dow Jones Industrial Average popped above 19,000 for the first time. That came a day after Wall Street set a quartet of records, with all […]
The film had been pilloried by conservative Christians for a dream sequence in which Christ has sex with Mary Magdalene. In depicting Christ’s life as a doubt-ridden struggle between his human and divine natures, Scorsese had intended to make a film that was at once an act of doubt and an act of faith. In the novel he was reading, the priest was shown profaning an image […]
What better way to enjoy the cool winter evenings than by dining outdoors? There is no shortage of venues with terraces, some of which offer views of the waterfront and city skylines. Afshan Ahmed rounds up of some of the newest options available for alfresco dining in both Abu Dhabi and Dubai. newslide Abu Dhabi Bu Located on the fourth floor of The Hub at World Trade […]
Riyadh, 22 November 2016 Investcorp, a global provider and manager of alternative investment products, today announced that an entity managed by it has invested in a stake in the leading private medical laboratory chain in the GCC, Al Borg Medical Laboratories (“Al Borg” or the “Company”). Established in 1999 in Jeddah, Al Borg has 53 laboratories across eight countries in the GCC and Africa, with a clear […]
The flagship Pixel and Pixel XL smartphones from Google are creating quite a stir – their lens flare issue and LTE connectivity problem notwithstanding – and have consumers hankering for the Android Nougat-powered phablets. We check out some of the best available deals for the Google Pixel XL and Pixel, as well as some expected Black Friday 2016 specials. Verizon Wireless Currently, Verizon has an exciting BOGO at 50 […]
By Saikat Chatterjee | HONG KONG HONG KONG Asian stocks struck one-week highs with investors undeterred by a powerful earthquake in Japan on Tuesday, but after Wall Street closed at a record peak they were also wary of chasing prices higher until President-elect Donald Trump picks his economic team. Crude oil extended gains in Asian trading with U.S. West Texas Intermediate (WTI) up 1 percent in early […]
The UK’s Autumn Statement arrives laden with investors waiting to see whether the British government will make good on recent heavy-handed hints about fiscal expansion. Past Treasury updates have tended to be a damp squib in global financial markets — political posturing and fiddling with tobacco taxes rarely able to catch the interest of international money. This year however the chancellor, Philip Hammond, has an opportunity to […]
Submitted by Howard Kunstler via Kunstler.com, America didn’t get what it expected, but perhaps it got what it deserved, good and hard. Daddy’s in the house and he busted straight into the nursery and now the little ones are squalling in horror. Mommy was discovered to be a grifting old jade who ran the household into a slum and she’s been turned out to solemnly await the […]
WASHINGTON U.S. President-elect Donald Trump released a video on Monday laying out actions he will take on his first day in office on Jan. 20, including withdrawing the United States from a Trans-Pacific Partnership trade deal. Trump also said he would issue a rule cutting government regulations, direct the Labor Department to investigate abuses of visa programs, and cancel some restrictions on energy production, including shale oil […]
The United Arab Emirates could refer the United States to the World Trade Organisation over anti-dumping charges levied on steel pipes, a senior official said on Monday. The US International Trade Commission announced on Friday it was taking measures against UAE, Oman and Pakistan in relation to circular welded carbon-quality steel pipes, after a Department of Commerce investigation found them to be sold in the United States […]
When a man goes bankrupt it happens in two ways: first gradually, then suddenly. Those who look to financial markets for meaningful information about the future must accept the risk that the market may be wrong. The problem for those who place their faith in its predictive powers is that — like the bankrupt described by Ernest Hemingway — when investors discover they are wrong they too […]
By Timothy Aeppel and Mai Nguyen American companies from appliance makers to auto parts suppliers have lined up to offer a quiet caution to President-elect Donald Trump as he considers pulling the United States from trade deals: most lost manufacturing jobs aren’t coming back, but higher costs for consumers could. Consider the sneaker industry, one of the first to move to Asia because of the sharply lower […]
Wall Street is betting big on small. US president-elect Donald Trump’s pledge to ignite faster economic growth has put the shares of smaller US companies on track to outshine big multinationals this year for the first time since 2013. The Russell 2000, an index of shares with a median market value of less than $1bn, has surged 10 per cent to a record since the US election. […]
HE Ahmed Bin Shafar: “District cooling is an ideal cooling solution that replaces conventional systems, bringing benefits to environment, economy and users” Dubai, UAE, 21 November 2016 Emirates Central Cooling Systems Corporation (Empower), world’s largest district cooling services provider, has urged real estate developers participating in the four-day “Big 5” exhibition 2016, that kicked off today (November 21 2016), at the World Trade Center in Dubai, […]
Theresa May has set out the terms of a new grand bargain with business, where the government invests to boost productivity and cuts corporation tax, in exchange for help tackling the worst excesses of capitalism. Setting out her business strategy, the UK prime minister proposes in the Financial Times a pact with corporate Britain to work together to defend capitalism, free markets and free trade from populist […]
