TimeLine Layout

April, 2016

  • 19 April

    Gulf’s biggest buyer of US properties to double investments

      Bloomberg Investcorp Bank BSC, the Gulf’s largest private investor in U.S. real estate over the past 10 years, plans to step up property investments in the world’s largest economy as it seeks to double assets under management to $25 billion over the next five to seven years. The company expects to spend $1.5 billion on U.S. real estate in ...

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  • 19 April

    Brookfield raises $9 billion for latest real estate fund

      Bloomberg Brookfield Asset Management Inc. raised $9 billion for its latest real estate fund, exceeding its $7 billion target and doubling its previous fund, as Asian investors and U.S. pension funds piled in to its fundraising efforts. Brian Kingston, chief executive officer of Brookfield Property Partners LP, said the funds are already 45 percent committed, including investments in the ...

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  • 19 April

    Amenities reach new heights for condo buyers in USA

      Bloomberg Once upon a time, rooftop pools, climbing walls, pet-washing stations, and golf simulation rooms were amenities that would genuinely help sell a high-end condo. But as the luxury market expanded after the financial crisis, developers bent over backwards to up the ante, hawking screening rooms, wine cellars, bocce courts, and concierges until so many buildings had them that ...

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  • 19 April

    Steep gap in banking technology calls for an immediate bridge: Experts

      Ritika Sharma / EMIRATES BUSINESS The breathtaking pace with which technology is changing the world is way too fast compared with the speed with which banks are embracing technology. As customers become more and more smartphone-dependent, banks should look for ways to collaborate with IT companies to understand and stay up-to-date with the latest changes in digital world. Retail ...

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  • 19 April

    Stress-free technology is need of the hour in banking

      Sunaina Rana / Emirates Business Over the years, digitalisation has become an integral part of banking sector. Fintech (finance and technology) start-ups are offering solutions that could spruce up the overall banking experience in a big way. Globally, entrepreneurs and even traditional banks are creating digital-only banks or neobanks that embrace most of the facets of new-age technology. However, ...

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  • 19 April

    Making digital banking a seamlessly ‘secure’ affair

      RITIKA SHARMA / Emirates Business With the rapid adoption of cards, cashless payments and e-commerce, consumers are becoming more aware and concerned about fraud prevention. Banks across the world are moving quickly to upgrade payment technologies, spending huge sums to improve their IT infrastructure, with special focus on cyber security. Dhruv Magna, Dhruv Magna, Vice President Sales APAC, Envestnet/Yodlee, ...

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  • 19 April

    Kuwait loads crude for export -ship data

      REUTERS Kuwait loaded crude oil onto a supertanker on Monday, shipping data shows, despite a workers’ strike that has cut its output by 60 percent. Supertanker BW Ulan loaded 2 million barrels of crude at the Mina al Ahmadi port and will head to Ulsan in South Korea, live ship-tracking data on Thomson Reuters Eikon shows. Three other supertankers ...

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  • 19 April

    China starts gold fixing to grow global market sway

      Beijing / Bloomberg China, the world’s biggest producer and consumer of gold, started a twice-daily price fixing on Tuesday in an attempt to establish a regional benchmark and bolster its influence in the global market. The Shanghai Gold Exchange set the price at 256.92 yuan a gram ($1,233.85 an ounce) at the 10:30 a.m. session after members of the ...

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  • 19 April

    Australia’s biggest cattle firm to sell up for $370.7 million

      Sydney / AFP Australian cattle firm S. Kidman and Co. on Tuesday said a Chinese-led consortium was the preferred buyer of most of its stations, with an offer worth US$288.8 million. Kidman, Australia’s biggest private landowner, has attracted keen interest from Chinese firms wanting to secure the sprawling pastoral empire. It said a consortium of Dakang Australia Holdings Pty. ...

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  • 19 April

    Japanese Farmers’ Bank to buy $2.9bn of Cerberus deal

        Tokyo / Bloomberg Japan’s Norinchukin Bank bought more than $2.9 billion of UK mortgage-backed bonds sold by Cerberus Capital Management, according to people familiar with the matter. The cooperative lender, which serves as the central financial institution for Japanese farmers and fisherman, acquired senior-ranking notes in a 6.1 billion pound deal that priced earlier this month, said the ...

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