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World stocks hit new highs
(The Gulf Today - 31/10/2017)

A strong rally in the technology sector helped drive global stocks to a record high on Monday, while a recovery in Spanish markets supported European shares after an opinion poll smoothed investors’ concerns over Catalan secession. MSCI’s world equity

Norway’s $1tr fund now defines itself as equity investor
(Gulfnews - 30/10/2017)

Norway’s sovereign wealth fund, which owns more than 1 per cent of global stocks, is treating its $300 billion (Dh1.1 trillion) bond portfolio as a hedge for what it now essentially views as a stock fund. “60 to 70 per cent in equities — imagine it was

IFC closes $653 million financing for Egypt solar plants
(Arab News - 30/10/2017)

International Finance Corporation (IFC), a member of the World Bank Group, on Sunday said it had completed a $653 million debt package to finance building 13 solar power plants near Aswan in Egypt, planned to be part of the largest solar park in the

Trump China trip to broker multibillion-dollar deals
(Gulf Times - 29/10/2017)

Representatives from about 40 companies are expected to accompany President Donald Trump on the first presidential trade mission to China on November 8-10 and sign deals for billions of dollars in US investments. One of the biggest deals the Trump

Dieselgate’ costs choke Volkswagen profits
(Oman Daily Observer - 29/10/2017)

Net profits tumbled in the third quarter at Volkswagen as the world’s biggest carmaker booked higher-than-expected charges related to the “dieselgate” emissions cheating scandal. VW reported net profit attributable to shareholders down 53.4 per cent

Wall St. powered higher by tech, Amazon results
(Reuters - 28/10/2017)

Wall Street climbed on Friday as a surge in the tech sector and a rally in Amazon shares helped push the Nasdaq to its best day in nearly a year. The S&P technology index led the way higher, up 2.91 percent. The index notched its best day since March 1,

GE's Very Bad Week Pushes 2017 Stock Wipeout to $100 Billion
(Bloomberg - 28/10/2017)

A week ago, General Electric Co.’s new boss lamented the company’s “completely unacceptable” performance. Shareholders must be feeling the same way. The fifth straight share decline pulled the stock down 13 percent on the week. That was GE’s worst weekly

S&P500 and the Nasdaq close out week at all-time highs as tech rallies
(MarketWatch - 28/10/2017)

U.S. major stock indexes ended higher on Friday after stronger-than-expected earnings from the tech sector buoyed the Nasdaq and S&P 500 to all-time highs this week. Amazon.com Inc. SPX, +0.81% , Microsoft Corp. MSFT, +0.21% , Alphabet Inc. GOOGL, -0.02%

Five Tech Tycoons Add $19 Billion to Their Wealth
(Bloomberg - 28/10/2017)

Five technology tycoons added $19.1 billion to their fortunes Friday as earnings from Amazon.com Inc., Alphabet Inc. and Microsoft Corp. beat analysts’ estimates. Amazon Chief Executive Officer Jeff Bezos gained the most, adding $10.3 billion and

Jeff Bezos Is Now the World’s Richest Person
(Bloomberg - 27/10/2017)

A post-earnings surge in Amazon.com Inc. shares Friday pushed Jeff Bezos to the top of the Bloomberg Billionaires Index for the first time, vaulting him ahead of Bill Gates who had held the top spot as the richest person on Earth for more than four

Islamic finance assets rise 9.5pc to RM783 billion
(Straits Times - 27/10/2017)

The Malaysian Islamic finance (IF) industry continues its positive trajectory with total IF assets increasing by 9.5 per cent to reach RM783 billion, which also represent 28.8 per cent of the country’s total banking assets for the first seven months of

(Press Release - 27/10/2017)

MARC has affirmed its ratings on WCT Holdings Berhad’s (WCT Holdings) RM1.0 billion Medium-Term Notes (MTN) Programme and RM1.5 billion Sukuk Murabahah Programme at AA- and AA-IS respectively. Concurrently, MARC has revised the ratings outlook to stable

Blackstone May Double Assets to $800 Billion in Five Years
(Bloomberg - 26/10/2017)

Blackstone Group LP’s Steve Schwarzman said his firm may double assets under management to $800 billion over the next five years as it expands into new investing areas. “We have internal targets, plans, aspirations to basically double where we are, which

British economy shrugs off Brexit doubts, for now
(The Peninsula - 26/10/2017)

Britain's economy gently picked up speed in the third quarter, official data showed on Wednesday, strengthening expectations of an interest rate hike next month, despite uncertainty over Brexit. Gross domestic product grew by 0.4 percent in the period

Bangladesh’s Islamic finance market in need for proper regulation
(Gulf Times - 25/10/2017)

It must be the most – unjustly – overlooked Islamic finance market in the world: Bangladesh, a country with the world’s fourth-largest Muslim population of approximately 147mn after Indonesia, Pakistan and India, constituting more than 90% of its entire

China economy seen growing 6.4% in ’18
(Gulf Times - 25/10/2017)

China’s economy will likely grow 6.8% in 2017, topping the state target and accelerating for the first time in seven years, a Reuters poll showed, as Beijing walks a tightrope by containing debt and property risks without stunting economic growth. Still,

Surging Canada economy reduces budget deficit
(Gulfnews - 25/10/2017)

A surging Canadian economy has reduced the government’s budget deficit this year by billions of dollars, the finance minister said Tuesday. But Ottawa remains on track to increase the national debt by 100 billion Canadian dollars (Dh290 billion) over the

EU targets German carmakers in new antitrust raids
(Gulfnews - 24/10/2017)

A series of raids by EU antitrust regulators against German carmakers struck a new blow Monday to one of the most important sectors of the economy which has already been hit by a string of other scandals. The EU Commission, the bloc’s executive arm,

China economy on track to hit official 2017 growth target
(Oman Daily Observer - 22/10/2017)

China’s economy is on track to meet the official growth target for 2017, the head of the state planning agency said on Saturday. “We expect to achieve the full-year growth target of about 6.5 per cent,” He Lifeng (pictured), Chairman of the National

Global IT spending to reach $3.7trn
(Saudi Gazette - 22/10/2017)

Range from technologies that enhance the digital workplace, such as workstream collaboration, workforce analytics and video message-oriented middleware (MOM), to security (endpoint detection and response), analytics (smart data discovery) and storage

Hong Kong stocks advance after biggest tumble this year
(FIN24 - 21/10/2017)

Hong Kong stocks rose, led by a rebound in shares that had driven a slump on Thursday. The Hang Seng Index advanced 1% as of 08:26 as Industrial & Commercial Bank of China and Ping An Insurance climbed at least 2.3%. Geely Automobile added 5.2% after

Brazil stocks higher at close of trade; Bovespa up 0.14%
(Reuters - 21/10/2017)

Brazil stocks were higher after the close on Friday, as gains in the Basic Materials, Financials and Public Utilities sectors led shares higher. At the close in Sao Paulo, the Bovespa rose 0.14%. The best performers of the session on the Bovespa were

Most Asian bourses extend gains
(AFP - 21/10/2017)

Asian and European markets rose yesterday, with Japan’s Nikkei clocking up a record-equalling 14 straight wins, while the dollar also rallied on hopes for Donald Trump’s tax cut plans. A succession of strong earnings and economic indicators has fuelled

Where Will Blackstone Spend Its Infrastructure Billions?
(Bloomberg - 20/10/2017)

Blackstone Group LP made a splash in May when it announced a $100 billion ambition for infrastructure investments. On Thursday, it got more specific with its plans. The private equity giant is just starting to collect money to supplement a $20 billion

Maybank Islamic achieves best Islamic institution award
(Pakistan Observers - 20/10/2017)

The largest Shariah bank in Malaysia and ASEAN in terms of total assets, Maybank Islamic Berhad won the Best Global Islamic Financial Institution award at the Global Finance Awards 2017 in Washington on Saturday (14/10) then. Maybank Islamic Berhad is