Opec’s most powerful members were rushing on Tuesday to rescue a supply deal designed to end the longest oil price crash in a generation. Saudi Arabia, Opec’s largest producer, and its arch rival Iran have both set out their positions ahead of Wednesday’s ministerial meeting in Vienna, with the kingdom hinting it could walk away from a deal if its conditions are not met and Tehran publicly […]
Tuesday 06:00 GMT Overview Markets across Asia were trading cautiously as Wall Street and the US dollar weakened overnight and the price of oil has pulled back. European bourses are expected to open a touch weaker, with spreadbetters predicting the UK’s FTSE 100 will slip about 10 points to 6,790 and Germany’s Dax to drop 20 points to 10,562. US index futures suggest the S&P 500 will […]
The Chicago Stock Exchange, which is seeking to win approval for a controversial takeover deal by Chinese investors, on Monday said that two companies controlled by the Lu family would own a combined 39 per cent of the exchange, but their voting power would be limited to 20 per cent. In a filing with the Securities and Exchange Commission, the Chicago exchange detailed the underlying investors in […]
By Sue-Lin Wong | DANDONG, China DANDONG, China A labour agent sat in his bus on a recent frigid morning, waiting to cross the “Friendship Bridge” at China’s main border post with North Korea. He had come to pick up migrant workers and take them to jobs in factories and restaurants in China. The single-lane bridge in the border city of Dandong is the main gateway for international trade […]
Much of the markets’ mixed reaction reflects uncertainty about a new president who has never held public office, leaving political leaders, business executives and international institutions to make bets on how a Trump administration may rewrite rules that have governed global affairs under American presidents of both parties. Continue reading the main story “For allies and adversaries alike, the election of Donald Trump represents the likely abandonment […]
Reconciling accounting standards and religious principles is challenging Islamic banks and regulators as they adapt to new international book-keeping rules due to come into force in 2018. The new rules, known as IFRS 9, will leave their mark on all major products used by Islamic banks – from simple savings accounts to Islamic bonds – and impact their bottom-lines. Banks around the globe are gearing up to […]
Saudi Arabia has set a high bar for any oil supply deal ahead of Wednesday’s Opec meeting in Vienna, as it attempts to put pressure on regional rivals Iran and Iraq to accept a larger share of output cuts. The oil production cartel is trying to reach an agreement to curb supplies for the first time since the financial crisis and put an end to a two-year […]
Trump team rejects effort to push vote recount | Reuters Top News | Mon Nov 28, 2016 | 10:35pm IST ‘+Reuters.inlinevideo.title+’ ‘+Reuters.inlinevideo.length+’ ‘); } WASHINGTON Donald Trump’s transition team on Monday pushed back against an emerging effort to recount votes from the Nov. 8 presidential election, calling it “nonsense,” but not offering any evidence to back the president-elect’s weekend tweet alleging millions of illegal votes. The Green […]
PARIS A severe strain of H5N8 bird flu that has hit several countries in Europe leading to the culling of thousands of poultry was detected in wild ducks in Northern France, the farm ministry said on Monday. “A first case of highly pathogenic avian influenza H5N8 was confirmed on Nov. 26 in the commune of Marck (Pas-de-Calais), on 20 wild ducks used as callers for waterfowl hunting,” […]
Monday 12:00 GMT. Overview Stock markets in Europe are slipping back, led by losses for embattled Italian financials, on concern about potential contagion spreading from the sector into the eurozone financial system after Italy’s reform referendum. Meanwhile the dollar is cooling after its sustained run higher, with the index tracking the world’s reserve currency against six of its rivals down 0.1 per cent, although it is holding […]
Monday 11:30 GMT. Overview The dollar is cooling after its sustained run higher, with the index tracking the world’s reserve currency against six of its rivals down 0.5 per cent, although it is holding the 100-point mark at 100.940. Stock markets in Europe are slipping back, led by losses for embattled Italian financials. Hot topic Oil is likely to loom large over the week before Wednesday’s Opec […]
Stop me if you think you’ve heard this one before. Italian bank stocks are being hit hard this morning, leading declines across European financials ahead of a key referendum on December 4 that could have major consequences for plans to revive Italy’s troubled financial system. UniCredit – Italy’s most systemically important bank – is the biggest loser, falling 4 per cent, while Banco Popolare, Banca Popolare di […]
28 November 2016 Manama, Kingdom of Bahrain: The Shari’ah Board of AAOIFI held its meeting No. 46 from 17 to 19 November 2016 in the Kingdom of Bahrain. Over more than 25 meeting hours, the board discussed specific issues and reviewed a number of technical and Shari’ah reports. The meeting was concluded with issuance of a number of resolutions as well as the adoption of two new […]
By Henning Gloystein | SINGAPORE SINGAPORE Oil prices fell over 1 percent on Monday, extending declines from last Friday as doubts re-emerged over the ability of major producers to cut output at a planned meeting on Wednesday aimed at reining in global oversupply. Brent crude futures LCOc1 were trading at $46.40 per barrel at 0035 GMT (7.35 a.m. ET), down 84 cents, or 1.8 percent, from their […]
Istanbul, 24.11.2016 The Islamic Development Bank Group (IDBG) and Borsa Istanbul have signed a Memorandum of Understanding (MoU) to provide a general framework to facilitate cooperation and collaboration among the parties in fostering Islamic Finance in Turkey and other IDB Member Countries. The MoU was signed under the auspices of the President of Republic of Turkey, H.E. Recep Tayyep ERDOĞAN during the 32nd Ministerial Session of the […]
Pokémon GO fans will probably have a delightful Christmas as rumors point to a massive update happening in December. This could include the previously announced plan to allow card trading among players. What is even more awesome is how the new update could reportedly unleash more than 100 new normal and legendary Pokémon. More Than Just A Pokémon GO Rumor Certainly, the details of the December update can […]
Jenny Strasburg/The Wall Street Journal Early Friday morning, FBI agents arrested a longtime SAC Capital portfolio manager, Michael Steinberg, on insider-trading charges, making him the most senior employee of one of the nation’s most prominent hedge funds to be snared in the government’s sprawling probe. (via WSJ)
By Noel Randewich | SAN FRANCISCO SAN FRANCISCO Wall Street expects consumers to open their wallets a little wider this holiday shopping season but bargains among red-hot retail stocks could be hard to find, especially as profit growth proves elusive for many big names. Retailers, including Best Buy, Kohls Corp and Macy’s, that were pummeled in last year’s disappointing holiday quarter have seen their shares surge recently […]
He seized power audaciously in 1959 and commanded to the last a powerful personal following inside and outside Cuba. But during more than half a century in office Fidel Castro, who has died at the age of 90, metamorphosed from a popular and charismatic guerrilla leader into a traditional caudillo, an autocratic holdover from another age. At his life’s end, although bolstered by the emergence of a […]
By Lisa Lambert | WASHINGTON WASHINGTON Lender GE Capital asked the U.S. government on Thursday to stop designating it as “too big to fail,” saying it had shrunk to the point where it would not pose a major threat to the nation’s financial stability if it experiences distress. Chief Executive Officer Keith Sherin said in a statement that the General Electric Co (GE.N) unit no longer met […]
Updated Nov. 25, 2016 4:59 p.m. ET Saudi Arabian oil officials won’t attend a meeting Monday with their Russian counterparts and others, OPEC officials said, disrupting plans between the world’s two largest petroleum producers to coordinate output cuts meant to elevate slumping crude prices. The move puts renewed focus on the Organization of the Petroleum Exporting Countries to break through an impasse at the 14-nation cartel’s next […]
Johnson & Johnson, the world’s largest healthcare group, confirmed on Friday it is in preliminary discussions with Actelion, Europe’s largest biotechnology company, over a potential deal. Its statement came after days of speculation among investors that J&J had been preparing a bid for Actelion, although the Switzerland-based biotech had earlier warned “there can be no certainty that a transaction will result” from the J&J approach. People close […]
The dollar broke new ground in its post-US election surge against the yen on Friday as the market eyed a potential ¥3.8tn ($34bn) deluge of yen selling by life insurers. Tokyo’s morning session saw speculators pushing the dollar into the high ¥113 zone — an eight-month peak and a move that is underpinned by more unwinding of long yen positions built ahead of what big Japanese investors […]
By Sam Forgione | NEW YORK NEW YORK Key stock indexes on Wall Street swept to record intraday and closing highs on Black Friday thanks to gains in consumer staple and technology shares, while European stocks climbed and a stabilization in U.S. Treasury yields promoted investors to sell the dollar. The Dow, S&P 500 and Nasdaq indexes, as well as the small cap Russell 2000 , hit […]
