May, 2018

• 1 May

  Facebook’s Koum may spurn $1 billion on WhatsApp exit

  

  Bloomberg Jan Koum’s exit from Facebook Inc. could prove costly. A speedy departure may prevent him from collecting as much as $1 billion in stock awards. The chief executive officer of messaging unit WhatsApp confirmed in a Facebook post that he was leaving the company. The announcement comes before the final three vesting dates of restricted stock unit awards tied ...

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• 1 May

  AT&T’s Time Warner takeover at crossroads as judge weighs ruling

  

  Bloomberg In the end, the fate of AT&T Inc.’s $85 billion merger with Time Warner Inc. will come down to he said versus he said. Lawyers for AT&T and the Justice Department clashed one last time at the close of a six-week trial over the proposed combination, a deal the government aims to stop. The judge overseeing the antitrust case ...

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• 1 May

  Banking brilliance suffers serious setback in Nordics

  

  Bloomberg Nordic banks, once coveted as the best-run and best-capitalised in Europe, appear to be losing their luster. After publishing first-quarter results, banks based in Sweden and Denmark are among the year’s worst performers in the Bloomberg index of European financial stocks. In fact, you need to have been an investor in Banca Monte dei Paschi di Siena SpA or ...

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• 1 May

  Treasury-selling pressure likely over, says JPMorgan

  

  Bloomberg Fast-money investors have their fingerprints all over last month’s Treasury selloff — and that may be good news for bulls hoping for a reprieve. Commodity trading advisers, who use a momentum-driven investing style, flipped from neutral to a short position in the 10-year US Treasury futures contract on April 18, helping to send the note itself racing to 3 ...

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• 1 May

  Mexican banks told to take steps against hackers

  

  Bloomberg Mexico’s monetary authority asked about a dozen banks to take emergency measures to shore up the country’s electronic payment network after a suspected cyber attack disrupted some transfers last week. The lenders have been instructed to connect to the system via a backup method that’s seen as less vulnerable to outside intrusions, but has never before been so heavily ...

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• 1 May

  Key Saudi interbank rate highest in 9 years

  

  Bloomberg A rate used to price loans in Saudi Arabia climbed to the highest level since the financial crisis. But unlike 2016, it’s the race to stay ahead of Libor, and not a liquidity squeeze, that’s raising borrowing costs. The three-month Saudi interbank offered rate advanced on Tuesday to 2.38625 percent, two basis points above the London interbank offered rate ...

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• 1 May

  Australia’s scandal-plagued banks face up to a bleak future

  

  Bloomberg Australia’s beleaguered banks are facing up to a bleaker future. In another bad day for the industry, a scathing report released on Tuesday into the nation’s largest lender found a “widespread sense of complacency” from the top down blinded it to risks that led to a massive breach of anti-money laundering laws. And in a stark warning the good ...

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April, 2018

• 30 April

  Emaar Malls records AED548 million gain

  DUBAI / WAM Emaar Malls recorded a net profit of AED548 million ($149 million) during the first quarter of 2018, similar to the net profit of AED539 million ($147 million) in Q1 2017. Revenue for first three months of 2018 was AED1.038 billion ($283 million), 24 percent higher than Q1 2017 revenue of AED836 million ($228 million), primarily due to ...

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• 30 April

  Mubadala revenue hits AED166bn

  

  ABU DHABI / WAM Mubadala Investment Company of Abu Dhabi on Sunday announced its full-year 2017 financial and operational highlights. According to a statement, revenue totalled AED165.6 billion compared to AED145.4 billion in 2016, driven by the strong performance of all four global platforms, with major contributions from upstream and integrated, petrochemicals and the semiconductor business sectors. Group Chief Executive ...

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• 30 April

  EGA signs 15-yr Guinea bauxite pact

  

  ABU DHABI / WAM Emirates Global Aluminium (EGA) signed a 15-year agreement with LD Ports and Logistics on Sunday, a subsidiary of Louis Dreyfus Armateurs, for the trans-shipment of bauxite in the Republic of Guinea. Also, Louis Dreyfus Armateurs and Abu Dhabi Ports separately signed an agreement to form a joint venture company to work together to carry out the ...

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