Hassan Ali Mansoor Although the world is faced with geo-political and geo-strategic challenges that are destabilizing markets and economies across the globe, to its credit, the U.A.E. banking sector continues its march towards growth. One of the essential hedges or stabilizing pivots for the banking sector besides the across the sector positive reforms carried out by the UAE Central Bank are sukuks which are Islamic bonds. Put […]
Many people think that poker is a very complicated game, but it is not true at all. There are many misconceptions that say that poker is the only game for pro players. But every game is tough when you don’t know about the game. Thus these misconceptions are wrong about the gameplay of poker. Moreover, it is a very easy game once you start to learn how […]
By Hassan Ali Mansoor A noticeable trend around the world these days are media reports that paint a gloomy picture of the global economy. A particular focus of economists has been global banks and financial institutions. These reports claim that some banks have invested in risky portfolios that expose their customers to unnecessary risks. The precarious financial condition of Deutsche Bank, Germany, is quoted as an example […]
By Arabian Post Staff DP World has announced a partnership with Zhejiang China Commodity City Group Company LTD (CCC) to develop the ‘Traders Market’ in Jebel Ali Freezone (JAFZA). DP World will hold a majority share in the 70/30 joint venture. The Traders Market project will span approximately 800,000 square metres, with Phase 1 development covering about 220,000 square metres. Phase 1 Capex is estimated at $150 […]
By Saifur Rahman Valletta, Malta: The Government of Malta is seeking greater ties with the Gulf countries and India, in order to accelerate its economic growth, highest among the European Union countries, a top official said. The country is also expected to make the best use of the World Expo 2020 in which it is preparing a three-pronged strategy to promote its culture, economy and heritage through […]
By Matein Khalid George Soros once observed “the big money in emerging markets is made when things go from Godawful to just plain awful”. So true. The point of maximum pessimism in an emerging market is often an opportune moment to accumulate its shares, ideally after a political, economic or financial systemic shock. I sold my entire Pakistan equities portfolio in summer of 2017 after the Supreme […]
By Matein Khalid The S&P 500 index trades at 2990 as I write. The risk-reward calculus on the broad index no longer flashes a buy signal to me. The economic data around the world has deteriorated at an accelerating pace, as the decline in global PMI’s, 9% fall in German factory orders and $13 trillion in in government debt trading at negative interest rates attest. Commodities prices […]
Arabian Post Staff A UAE bid to become a globally recognized internet security watchdog, empowered to certify the safety of websites for Firefox users, has failed with the browser maker Mozilla rejecting the country’s bid. Websites seeking designation as safe by internet browsers have to be certified by an outside organization, which will confirm their identity and vouch for their security. Mozilla said it made the decision […]
By Matein Khalid Goldman Sachs shares traded at 190 when I wrote this article, way below its 52 week high at 245 making it a Cinderella in global investment banking at only 8.5 times forward earnings. It is obvious that Goldman’s involvement in the $7 billion 1MDB sovereign wealth heist in Malaysia has led to global outrage, demands for a $6 billion in punitive fine by Prime […]
Millennials are the generation that’s influencing almost everything today. From trends to which brands will be popular and which ones won’t be, etc. Millennials have so much influence in our everyday lives that we aren’t even aware of how significant impact they have. Our digital marketing agency Dubai concluded that if something isn’t “trendy”, it’s because this generation decided that way. That “untrendy” company can do whatever […]
BY Aaditya Tangri We’ve all heard the dire warnings of our impending dystopian future. According to research by Deloitte, an estimated 35% of UK jobs are at high risk of automation in the next 10 to 20 years, whilst in the past 15 years technology has already contributed to the loss of over 800,000 jobs. Market research company Forrester predicts that 6% of US jobs will be […]
Most people prefer to use ancient remedies along with modern medicine to speed up their recovery. Ancient remedies are simple, and they include a change in diet, herbs, massages, and acupuncture. Modern medicine has embraced some forms of ancient remedies such as acupuncture and massage therapies. Although they have acknowledged some of the techniques, they point out that some such as using animal parts like rhinoceros horns […]
By Saifur Rahman Dubai Islamic Bank (DIB), the UAE’s first and largest Islamic lender, said, is set to acquire Noor Bank, enhancing Dubai’s position as the capital of Islamic economy and creating the region’s most powerful Shari’a banking group. The combined asset value is set to reach Dh275 billion post acquisition, it said. “The Board of Directors of Dubai Islamic Bank convened its meeting on 09/06/2019 and […]
By Arabian Post Staff ENOC Group has secured a five-year US$690 million term loan from a Chinese consortium of banks as China’s biggest financial institutions endorse the Group’s operational and financial health. The term loan will finance general corporate purposes as ENOC continues to fuel the local economy through its business divisions in exploration & production, supply & operations, terminals, fuel retail, aviation fuel and petroleum products […]
By James M. Dorsey A public apology by a prominent Salafi scholar sheds a light on Saudi crown prince Mohammed bin Salman’s version of ‘moderate Islam,’ his effort to shape the Middle East and North Africa in his mould, and the replacement of religion with hyper-nationalism as the source of his legitimacy. Claiming to speak in the name of the Sahwa or Awakening movement, Aidh al-Qarni, one of the […]
By Matein Khalid Citigroup, the third largest US money center bank, owns subsidiaries in Latin America whose pedigrees go back almost a century. For instance, Banamex, Citi’s subsidiary in Mexico, is the second largest corporate/retail bank south of the Rio Grande. So it was no coincidence that Citi shares got sandbagged to a recent 61 as President Trump threatened to impose tariffs on Mexico’s $350 billion exports […]
By Manish Rai Recent attacks launched by Houthis rebels on critical installations of Saudi Arabia has demonstrated a significant leap in their capabilities. The story of how Ansar Allah (official name of Houthi movement) moved from small-arms ambushes to medium-range ballistic missile and sophisticated drone attacks deep inside enemy territory in just half a decade illustrates that how an ambitious militant group can capture and use a […]
The foreign exchange market is gaining in popularity as more exposure of how it works spreads online. It is the world’s most traded market, turning over more than $5 trillion every day and it is openly accessible and relatively easy to start. One of the key attractions of forex is that the market operates 24 hours a day. There isn’t any one centralized place for forex – […]
By Saifur Rahman The oil-rich Gulf countries have started to introduce permanent residency to wealthy foreigners in order to retain the existing businesses and attract more foreign investors to support the economic growth. Within days after Saudi Arabia announcing a ‘Green Card’ scheme for wealthy foreigners, the UAE on Tuesday announced a similar package – Golden Card – to retain the super-rich expatriates and attract more. Vice […]
/By Matein Khalid/ Despite the global fame of its brand ambassadors Leonardo DiCaprio and Snoop Dog, Alternative faux meat specialist Beyond Meat (symbol BYND) electrified Wall Street with its white-hot IPO. The recent panic in financial markets and rising geopolitical risk in the Middle East did not prevent Beyond Meat’s $240 million IPO from being a fabulous winner, rising from 25 to 89 as I write. Of […]
By Matein Khalid I had published a column in the UK/MENA press arguing that the Uber IPO was “absurdly valued” last week. I was vindicated with a vengeance when Uber priced its IPO at 45, well below the level Saudi Arabia’s uber-sovereign wealth fund PIF invested $3.5 billion in the hose of Travis (now Dara) three years ago. Uber opened on the NYSE with a whimper, not […]
By Arabian Post Staff Supply disruptions in the Middle East on top of an already tight crude market could send oil prices violently upward, according to Rystad Energy. Two Saudi Arabian oil tankers were reportedly attacked off the coast of the United Arab Emirates (UAE) this weekend, sending crude futures sharply up Monday morning. Commenting on the incident, Bjørnar Tonhaugen, Head of Oil Market Research at Rystad […]
/By Matein Khalid/Are we on the precipice of another spasm of intercontinental contagion in the emerging markets like 2018, or the Asian flu, tequila crisis, Russian rouble default or the Turkish banking crisis in the 1990’s. Yes. The Shanghai Composite Index has plunged 12% and (17% fall for Shenzhen) since Trump got nasty on the tortuous US-China trade dialogue. The IMF cut its global growth forecast to […]
/By Matein Khalid/ Uber Technologies goes public in the most controversial and global tech IPO since Facebook seven years ago. Uber bulls claim that the ride sharing colossus is another embryonic Amazon, a firm that will dominate the digital constellation of the next two decades. I disagree. Uber loses $4 billion per annum and has already been forced to surrender Russia/CIS to Yandex, China to Didi and […]
