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 […]
|By Matein Khalid|Dr. Mervyn King broke with tradition by publishing his book “The End of Alchemy: money, banking and the future of the global economy”. After all, retired governors of the Bank of England do not, as a rule, do not write/publish books, let alone write books that lambast the City of London’s culture of greed and hubris. It is no coincidence that Dr. King quotes T.S. […]
INTERNATIONAL. A sense of disappointment permeated through the global markets during trading on Monday following last week’s shocking NFP result of 38k that discounted expectations over the Fed raising US rates in Q2. With the number of jobs created falling to its lowest level since 2007, the Dollar was left vulnerable as concerns elevated over a potential economic slowdown in the States. Although the headline unemployment rate […]
|By Arabian Post Staff| The Dubai Gold & Commodities Exchange (DGCX) witnessed a strong upswing across various segments, which has been attributed to the uncertainty over Britain’s exit from the European Union and also a possible interest rate hike by the Fed in June. The Exchange witnessed the upswing across precious metals, hydrocarbon and equities segments, trading an aggregate of 1.5Mn contracts in May, growing 55% from […]
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 […]
In all my long days as an automotive writer, not one single car manufacturer has asked me to attend their display at an international motor show, and drape myself alluringly across the hood of one of their vehicles. Sex Sells When people (in truth, men) discovered sex sells, car makers jumped on the band wagon. They found that a seductive model adjacent to the product seemed to […]
Advanced economies must take emerging economies into confidence to get desired results The 2008 financial crisis cast a deep shadow over the recent G7 annual meeting, which kept trying to come up with solutions that could lead to the desired economic results. Over the past eight years, they have been making every possible effort to find practical solutions and bring back growth. Unfortunately, their efforts […]
A Bitcoin (virtual currency) paper wallet with QR codes and a coin are seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, May 27, 2015. Reuters/Benoit Tessier/File Photo LONDON The price of the web-based digital currency bitcoin soared to its highest in almost two years on Tuesday, rising to more than $500 per unit, as worries about a further weakening of the […]
UAE. Brent crude pushed above key psychological level to trade above $50 for the first time since November 2015. The 85% rally since Brent hit a 12-years low in Jan was supported by multiple factors, mainly oil disruption from major exporters and production cut back by U.S. shale. Meanwhile the double than expected drop in U.S. inventories supported bulls to keep holding their long positions. According to […]
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, […]
|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 […]
Ministry has been also taking steps to intervene in the market on time so that consumers are not affected by price rise New Delhi: Keen to prevent a repetition of last year’s skyrocketing prices of onions and pulses, the union Food and Consumer Affairs Ministry is taking steps to prepare timely import plans and also set up buffer stocks of these items, official sources said here on […]
UAE. The Middle East and North Africa (MENA) region witnessed only two IPOs raising US$615.0m in Q1 2016, representing another quarter with limited IPO activity, according to EY. Capital raised through MENA firms in Q1 2016 increased by 141%, while the number of IPOs were consistent (2 IPOs), compared with Q1 2015. Phil Gandier, MENA Transactions Leader, EY, says: “Q1 2016 witnessed limited IPO activity, in line […]
An Apple iphone 6 with Apple Pay is shown in this photo illustration in Encinitas , California June 3, 2015. Reuters/Mike Blake SAN FRANCISCO Apple Inc’s first-ever drop in quarterly iPhone sales has spurred Chief Executive Tim Cook to turn the spotlight on prospects for its services business, but the field is rife with competition and may prove challenging for a brand based on gadgets. Second-quarter earnings […]
A generic picture of a Xerox logo on a photocopier. TECOM Reuters/Catherine Benson/Files Xerox Corp reported a 4.2 percent fall in quarterly revenue, hurt by a strong dollar and lower sales of printers and copiers, sending its shares down 12 percent in morning trade. The company is focusing on its services business, which offers business process outsourcing and document outsourcing, as sales of printers and copiers, its […]
A Toshiba Corp logo displayed on one of its television sets is seen through a vehicle in Tokyo, Japan, November 26, 2015. Reuters/Toru Hanai/Files TOKYO Toshiba Corp, in a hurry to raise cash before closing its books for the business year that ended at the end of last month, was able to structure the sale of its medical equipment business to Canon Inc in an unorthodox way […]
|By Dr Xiaoxi He, Technology Analyst, IDTechEx| Many interests have been raised within the battery business in 2015 through a number of activities: the launch of Tesla’s Powerwall with low prices supported by the capability of Gigafactory, Apple’s patent relating to charging and managing power in a device with solid-state batteries, LG Chem’s opening of a mega battery plant in Nanjing, Bosch’s purchase of polymer solid-state battery companySeeo, etc. Not to mention the tremendous number of investment, acquisitions, partnerships and joint ventures. At the same time, new battery technologies are appearing […]
|By Matein Khalid| While the S&P500 fell only 1.2% last week, things will get uglier in April and May. Fed chair Yellen is playing with fire in talking down US interest rates and inflation risk. The Volatility Index (VIX), Wall Street’s barometer of greed and fear, does not capture the rising global financial and political risks at only 15. Market breadth, sector divergence, smart money flows, sentiment, leadership, […]
Top executives at the world’s largest oil-trading houses said the worst of the market’s woes are probably over, with some predicting prices will climb to $50 a barrel by next year. “The down market is behind us,” Torbjorn Tornqvist, chief executive officer of Gunvor Group Ltd., said on Tuesday at the FT Global Commodities Summit in Lausanne. “It is the beginning of the end of that for […]
|Arabian Post Staff| Dubai Group, a member of the Dubai Holding, has hired Emirates NBD to help find a buyer for its stake in investment bank Shuaa Capital, Bloomberg reported quoting two people familiar with the matter. The sale process is at an early stage and may not result in a deal, Bloomberg quoted the sources as saying. But the sources were not identified as the talks are […]
|By Arabian Post Staff| The way gold is bought and sold in London, the world’s largest gold-trading hub, may finally give way to newer methods to ensure that the city retains its status as a major gold hub. Currently, more gold is sold and bought in New York and Shanghai than London. Reports suggest that the London Bullion Market Association and the World Gold Council are pursuing […]
Barclays Plc still has “critical mass” to compete in the Middle East and will aim to help local companies raise capital even as it scales back lending, Chief Executive Officer Jes Staley said. The U.K. lender has more than 200 employees in the United Arab Emirates after job cuts in the country this year and will continue to operate its corporate, investment banking and wealth management businesses […]
|By Lawrie Williams| As we come up to the Easter holiday and trading gets thin, the opportunities for traders to manipulate precious metals prices up or down become easier and for the moment, those who would like to see prices lower are in the ascendant. Whether gold goes into freefall and loses all its gains achieved so far this year is the big question on gold investors’ lips. […]
|By Matein Khalid| I was surprised by the dovishness of the Federal Reserve’s FOMC policy statement last week given the white hot US labour market and metrics of wage inflation. Hence the $29 rally in gold, the plunge in the Volatility Index to 15, the fall in the US dollar and the surge in oil/mining shares. The Yellen Fed is still worried about deflation risk in China, Europe […]
