May, 2016

• 1 May

  Why we fear spiders more than climate change

  People tend to fear spiders and snakes more than they do electrical sockets or fireworks, even though the latter present a far greater danger. This might help explain why humans have such a hard time seeing the threat of climate change. Evolutionary psychologists argue that much of human behavior can be understood only by studying our ancient ancestors. Through 99 ...

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• 1 May

  Deflation threatens Australia

  

    The bugbear of deflation is threatening to claim new victims Down Under, after having already wreaked havoc across some of Asia’s biggest economies. The latest inflation data from Australia showed the world’s 12th-largest economy has slipped into deflation for the first time in seven years. Falling clothing, food and gasoline prices pushed the consumer price index down 0.2 percent ...

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• 1 May

  Trump’s attempt to rewrite NATO will backfire

  

    Donald Trump’s foreign policy speech lays out what would be a disastrous course for the U.S. with regards to Russia and European security. On the other hand, for Europe and its eastern neighbor, the disengagement he is proposing might work out quite well — just not in the way Trump intends. Trump’s most specific statement — an extremely rare ...

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• 1 May

  UAE stocks lead Gulf equity slump as bank profits decline

  

    BLOOMBERG Equity markets in the United Arab Emirates extended declines on speculation recent gains were overdone after earnings fell at some of the country’s biggest banks. Abu Dhabi’s ADX General Index slipped for a second day, dropping 0.8 percent to 4,506.14 at the close, the lowest level in more than two weeks. First Gulf Bank PJSC, the emirate’s third-largest ...

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• 1 May

  Emirates Securities Market down by -0.99 percent

  

    ABU DHABI / EMIRATES BUSINESS The Emirates Securities Market Index has decreased by -0.99% to close at 4576.75 points. Accordingly the Market Capitalization has lost AED 7.44 billion attaining AED 742.41 billion. A total of 323.55 Million Shares were traded with a total value of AED 430.67 million during the trading session of 01-05-2016 through 4682 transactions. The number of companies ...

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• 1 May

  China Construction Bank gains despite bad loans

  

    Bloomberg China Construction Bank Corp., the nation’s second-largest lender, reported a 1.4 percent gain in first-quarter profit from a year earlier even as bad loans climbed. Net income rose to 68 billion yuan ($10.5 billion) in the three months ended March 31, the Beijing-based lender said in a filing to the Hong Kong stock exchange. Nonperforming loans jumped to ...

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• 1 May

  Islamic finance expert to take top role in Turkey bank

  

    Ankara / Reuters Turkey’s central bank will promote the head of its markets division to deputy governor, officials announced, elevating another banker with Islamic finance credentials to its policy-setting committee. Erkan Kilimci is due to be named as one of the bank’s four deputy governors shortly, the officials said, declining to be identified because the information has not yet ...

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• 1 May

  German banks see no quick pick up in Iran business

  

    Berlin / Reuters Restoring German banks’ financial ties with Iran will take time given debt owed to Berlin and transparency concerns, the head of the German banking association said, dampening expectations before a business summit in Tehran. Iran owes Germany about €500 million ($569 million) under so-called Hermes covers, a German government arrangement that protects German companies if foreign ...

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• 1 May

  Spain’s Bankia Bank sees low interest rates marring profits

  

      Madrid / AFP Spain’s state-rescued lender Bankia has posted a 3.3-percent fall in first-quarter net profit due in part to lower interest rates and fierce competition which hurt its margins. The bank reported a net profit of 237 million euros during the first three months of the year, below analysts’ forecasts of 246 million euros, according to a Factset ...

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• 1 May

  Italy’s Atlante raises $4.8bn for bank IPOs, bad loans

  

    Bloomberg Italy’s Atlante, the government-orchestrated banking fund, raised € 4.25 billion ($4.9 billion) from 67 domestic and foreign institutions to help the country’s lenders build capital and reduce bad debt. Atlante, which targets a 6 percent annual return from investments, will invest as much as 70 percent of its money in capital increases by Italian banks, Quaestio Capital Management, ...

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