November, 2016

• 6 November

  Gulf investor firm Adeptio picks Kuwait’s NIC for mandatory offer

    Reuters Gulf investment firm Adeptio has chosen Kuwait’s National Investment Company (NIC) to manage a mandatory tender offer to remaining Kuwait Food Co (Americana) shareholders, the advisor said in a bourse filing on Sunday. NIC did not provide a timeframe for when the offer process would happen. The disclosure comes after Adeptio, led by prominent Dubai businessman Mohamed Alabbar, ...

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• 6 November

  Egypt currency reform drives up costs for imported fuel

  

    Bloomberg Egypt, which relies on imports to meets its energy needs, faces higher costs for gasoline and other oil products unless it cuts fuel subsidies after the government decided to float its currency, according to analysts at Petroleum Policy Intelligence and KBC Energy Economics. The Arab world’s most populous country took the unprecedented step on Thursday of allowing the ...

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• 6 November

  Saudi former oil minister says OPEC can’t cut output by itself

    Bloomberg OPEC can’t cut oil production alone to stabilize the market, according to the former Saudi Arabian energy minister who masterminded the pump-at-will policy the group adopted two years ago. “I don’t think OPEC by itself should cut,” Ali Al-Naimi, who for two decades was arguably the world’s most influential oil official until he retired in May, told a ...

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• 6 November

  Australia could lose AAA tag as early as Dec

  

    Bloomberg Australia could be stripped of its top credit score by S&P Global Ratings as early as next month if the government’s interim budget review shows further deterioration, according to BlackRock Inc. The mid-year economic and fiscal outlook, which for the past three years has been delivered in December, could be a “catalyst” for the country to lose its ...

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• 6 November

  Japan, India to ink N-deal this week

  

    AFP Japan and India are set to sign a controversial civil nuclear deal this week, reports said on Sunday, as the two Asian allies look to boost economic and security ties to counter an assertive China. India’s Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe are set to sign a deal on Friday that would allow Japan ...

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• 6 November

  E-vehicles need cleaner energy grid: Nissan CEO

    Bloomberg Electric cars will fall short of helping the environment without cleaner energy to charge the vehicles’ batteries, said Carlos Ghosn, chief executive officer of Nissan Motor Co. and Renault SA. “At least the car industry is bringing a breakthrough, which consists in saying that you are going to be transporting yourself from one place to another with zero ...

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• 6 November

  Hong Kong moves to cool rein in home prices

  

    Bloomberg Hong Kong Chief Executive Leung Chun-ying is taking additional steps to cool the world’s costliest property market, where prices have rebounded after a short-lived dip. The government raised the stamp duty to 15 percent for all residential purchases except for first-time buyers who are permanent residents. Until now, the highest levy for residents was 8.5 percent, while foreigners ...

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• 6 November

  Egypt stocks rally most in ME on currency float

  

    Bloomberg Egyptian stocks rallied a seventh day on bets an unprecedented decision to float the pound will help cement a $12 billion loan from the International Monetary Fund. The currency weakened. The EGX 30 Index surged 6.1 percent, extending the longest winning streak since March. Members of the benchmark gauge traded at the most expensive in almost 17 months ...

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• 6 November

  Google speaker at your command

  

    ANICK JESDANUN / AP Google’s new smart speaker is at once a secretary, a librarian and a radio. Ask about your day, and the Home speaker will give you the time, weather, estimated commute, the news and upcoming calendar appointments. It will convert miles into feet, and dollars into euros. Want to hear Adele or Coldplay? Home will fetch ...

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• 6 November

  Samsung to offer digital assistant service in Galaxy S8

  

    SEOUL / AP Samsung Electronics said on Sunday it will offer an artificial intelligence assistant service in the upcoming flagship smartphone, as the South Korean firm seeks recovery from its global smartphone recalls. The Galaxy S8 will let users order food or perform other tasks without going through a third-party application but by simply asking the phone’s virtual assistant, ...

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