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World Trade Center transit hub opens under cloud of $4bn cost
(Arab News - 29/02/2016)

The soaring, white transportation hub opening next week at the World Trade Center was designed to evoke a bird in flight, but it is hatching under a cloud. There will be no ribbon-cutting celebration when the train station's grand hall, called the

Is Islamic banking retail-ready in Africa?
(CPI Financial - 28/02/2016)

On a recent trip to Johannesburg, I sat down with an Islamic finance executive for a major bank. There was a lot to talk about with the flurry of Islamic banking activity on the continent, not just through several Sukuk issuances but also a number of

What to expect from China’s new chief securities regulator?
(South China Morning Post - 28/02/2016)

Those looking forward to a new broom sweeping clean will have to wait, as the priority for China’s new chief securities regulator will be stability rather than reform, industry insiders say. Schemes in the reform pipeline, including reform of the initial

Shares end week lower on disappointing corporate earnings
(NIKKEI - 28/02/2016)

Malaysian shares snapped a two-session losing streak Friday, but fell nearly one percent for the week as lackluster earnings and outlook dented already jittery sentiment. The nation's benchmark FTSE Bursa Malaysia KLCI rose 0.32% to 1,663.44 points

IMF and G-20 finance chiefs urge reforms
(Arab News - 28/02/2016)

Officials at a global finance meeting Friday urged governments to speed up promised job-creating reforms instead of relying on stimulus to perk up slackening growth. The clouded global outlook has upped pressure for reassurances and action from the

German business morale hits 14-month low
(The Gulf Today - 24/02/2016)

Clouds loomed over the German economy on Tuesday as business confidence in Europe’s economic powerhouse fell to its lowest level in over a year. According to the closely-watched business climate index calculated every month by the Ifo economic institute,

Brexit would threaten jobs, warn UK business leaders
(Arab News - 24/02/2016)

The bosses of more than a third of Britain’s top companies on Tuesday urged voters to keep the country in the European Union, warning that an exit from the bloc would threaten jobs. Some 198 business leaders including Roger Carr, chairman of BAE Systems,

HSBC posts pre-tax loss in Q4 amid ‘seismic’ economic shifts
(Arab News - 23/02/2016)

Global banking giant HSBC has reported a shock pre-tax loss in the last quarter of 2015 with results for the year missing analysts’ expectations, as it grapples with “seismic shifts” in the world economy. HSBC last year announced a radical overhaul of

Global manufacturing increased modestly in 2015
(The Gulf Today - 22/02/2016)

Global manufacturing production rose by just 2.8 per cent in 2015 as developing and emerging industrial economies registered reduced growth rates, according to the 2016 edition of the International Yearbook of Industrial Statistics released in Vienna.

US becomes Germany’s top trading partner
(Arab News - 21/02/2016)

The US became the top destination for German exports last year, overtaking France for the first time since 1961 thanks to an upturn in the US economy and a weaker euro, data from Germany’s Statistics Office showed. Exports to the US rose by 19 percent

Stocks rise on steady oil, China hopes
(The Gulf Today - 18/02/2016)

European stock markets and Wall Street kicked higher on Wednesday, aided by higher oil prices and hopes of new Chinese economic stimulus measures, dealers said. But enthusiasm was capped by uncertainty about a possible deal between major oil producers,

UK inflation rate rises to highest in a year on motor fuel
(Gulfnews - 17/02/2016)

UK inflation climbed to its highest in a year in January, driven by motor fuels, food and clothing. Consumer prices rose an annual 0.3 per cent following a 0.2 per cent gain in December, in line with the median forecast of economists in a Bloomberg

Japan economy shrinks during Q4 in body blow for ‘Abenomics’
(Arab News - 16/02/2016)

Japan’s economy contracted in the last quarter of 2015, official data showed Monday, dealing another blow to Prime Minister Shinzo Abe’s faltering bid to boost growth. The figures will fan talk of fresh Bank of Japan measures, after policymakers shocked

Japan funds seek exemption from negative interest rates
(Gulfnews - 15/02/2016)

Japan’s investment industry is seeking protection from negative interest rates as the central bank’s policy comes into effect this week and threatens a $100 billion (Dh367 billion) slab of savings. The special exemption, which has been discussed between

Investors ‘are looking much more critically at banks’
(Arab News - 14/02/2016)

Eurogroup chairman Jeroen Dijsselbloem rejected calls for banking union regulations to be loosened after weeks of falling bank shares, saying new European bail-in rules had caused investors to look “more critically” at risks born by banks. Speaking on

Yellen warns of risks to US economy
(The Gulf Today - 11/02/2016)

Federal Reserve Chair Janet Yellen warned Wednesday that the US economy faced risks from tightening domestic financial conditions as well as global economic turmoil. Expressing concerns that were not nearly as pronounced the last time she spoke publicly

Chinese economy to stabilize in spite of market sell-off
(Arab News - 11/02/2016)

Developments in China are affecting markets globally. The economic slowdown and financial instability are part of the problem, but the main reason behind the market slump is Chinese policy. First, policy lacks clarity. At will, regulators have been

Obama to release $4tr-plus budget for 2017
(Gulfnews - 10/02/2016)

President Barack Obama is unveiling his eighth and final budget, a $4 trillion-plus (Dh14.68 trillion) proposal that’s freighted with liberal policy initiatives and new and familiar tax hikes — all sent to a dismissive Republican-controlled Congress that

Stocks stabilise as credit risk eases, oil up
(The Gulf Today - 10/02/2016)

European stocks showed signs of stabilising after a six-day selloff as measures of credit risk eased after Deutsche Bank AG reassured investors that it had enough funds to pay coupons on its riskiest debt. German bonds fell and the yen trimmed an advance

Emerging markets hit by commodities, credit and currencies
(Arab News - 09/02/2016)

The global economy is being hit by a slowdown in growth, large swings in exchange rates and tumbling commodity prices. These three factors are often portrayed as separate “shocks” but should really be seen as manifestations of the same maturing

Subsidies fueling boom in electric vehicles
(Arab News - 08/02/2016)

Government subsidies are fueling a boom in electric vehicles in China, driving hopes for the industry’s global future as the world’s biggest car market offers economies of scale that could make the technology mainstream. Sales of electric cars, though

Chicago stock exchange to sell itself to Chinese-led group
(Gulfnews - 07/02/2016)

The Chicago Stock Exchange said a Chinese investor group agreed to acquire it, giving the buyer entry into the intensely competitive US equity market. Chongqing Casin Enterprise Group has signed a definitive agreement to acquire the company, according

US unemployment rate at 8-year low
(Arab News - 07/02/2016)

US employment gains slowed more than expected in January as the boost to hiring from unseasonably mild weather faded, but surging wages and an unemployment rate at an eight-year low suggested the labor market recovery remains firm. Nonfarm payrolls

Tightening financial conditions a concern: Fed
(The Gulf Today - 04/02/2016)

Financial conditions have tightened considerably in the weeks since the US Federal Reserve raised interest rates and monetary policy makers will have to take that into consideration should that phenomenon persist, a top Fed official said on Wednesday. In

Chinese firm offers $43bn for Swiss seed giant Syngenta
(Arab News - 04/02/2016)

State-owned China National Chemical Corp. Wednesday offered $43 billion in an agreed takeover for Swiss pesticide and seed giant Syngenta, in what would be by far the biggest-ever overseas acquisition by a Chinese firm. The deal is the latest in a string

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