April, 2016

• 3 April

  What if they gave an ASEAN Summit and the media failed to turn up?

  

  For years, in news rooms across the region, reporters and editors have argued about the merits of sending teams of journalists and photographers to cover the annual ASEAN summits. Interest is in a state of constant decline even as costs escalate. A major problem is rarely do ASEAN gatherings offer news that would be considered worthy for the front pages ...

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• 3 April

  ‘Trump Republican’ is a seriously damaged brand

  

  Donald Trump is taking a troubled brand — the Republican Party — and making it worse. In last week’s Bloomberg Politics national survey, 60 percent of Americans said they had an unfavorable view of Republicans, the highest level in seven years. Since 2009, when this survey began, a plurality of the public has regarded the party with disfavor, but over ...

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• 3 April

  Mideast stocks sink with oil as Saudis pin crude halt on others

  

  BLOOMBERG Saudi Arabian stocks declined to a five-week low, leading losses across most Middle Eastern equities, after the deputy crown prince triggered a slump in crude prices by placing the onus of reducing oil output on other countries. The Tadawul All Share Index decreased 1.6 percent to close at 6,126.12, nearing the 50-day moving average it’s traded above for more ...

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• 3 April

  Emirates Securities Market down by -0.96

  

  ABU DHABI / EMIRATES BUSINESS The Emirates Securities Market Index has decreased by -0.96% to close at 4459.88 points. Accordingly the Market Capitalization has lost AED 7.02 billion attaining AED 723.45 billion. A total of 421.12 Million Shares were traded with a total value of AED 376.46 million during the trading session of 03-04-2016 through 4439 transactions. The number of companies which ...

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• 3 April

  Central banks’ arsenals in spotlight

  

  Madrid / Reuters At the end of a tough quarter, the fraught debate over how policymakers should tackle the world’s economic woes gets another airing in the coming week as central banks on both sides of the Atlantic publish minutes. Solid growth in US employment and an unexpected manufacturing uptick in China in March will have provided some comfort, but ...

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• 3 April

  Zimbabwe says banks have credible plans to sell stakes

  

  Harare / Reuters Foreign banks operating in Zimbabwe have submitted credible plans on how they intend to transfer majority shares to locals, the country’s finance minister said on Saturday, reducing the chances the government could cancel their licences. Under an Indigenisation and Economic Empowerment Act all foreign companies operating in Zimbabwe were given a March 31 deadline to sell at ...

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• 3 April

  Fed approves rule allowing banks to use munis as crisis buffer

  

  Bloomberg The Federal Reserve has given final approval to a rule that will let banks include investment-grade municipal bonds among the assets they use to meet regulatory requirements to ensure they have sufficient liquidity to weather a crisis. The Fed and other US financial regulators adopted the liquidity coverage ratio requirement in October 2014 as a response to bank deficiencies ...

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• 3 April

  Banks fall out of love with emerging markets

  

  Reuters Emerging Markets (EMs) are fast losing their shine for the world’s biggest investment banks. Faced with falling fees from fewer deals – and bleak prospects ahead – many have put the brakes on a decade-long expansion, with some cutting jobs and shutting offices. Subdued deal activity has meant there are fewer dollars for banks to fight over: fees in ...

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• 3 April

  Saudi’s Bahri inks pact with Riyad Bank to finance VLCCs

  Dubai / Reuters National Shipping Company of Saudi Arabia (Bahri) has announced on Sunday it had signed a murabaha facility with Riyad Bank valued at whopping 1.425 billion riyals ($380 million). This facility is aimed at financing the construction cost of five very large crude carriers (VLCCs). According to the concerned authorities, the facility lasts for a period of 10 ...

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• 3 April

  Realty giant Chestertons closes AED 610mn worth of sales in ’15

  

  DUBAI \ EMIRATES BUSINESS London was the most attractive market for Chestertons’ MENA investors, with more than AED 265 million invested into the UK capital’s real estate market. This represented over 70% of their total sales of nearly AED 379 million. “London has long been a favoured destination for investors from the Middle East region, it is a mature, well ...

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