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Friday, 24 April 2015

Nasdaq's road to nowhere - YouTube

Nasdaq's road to nowhere - YouTube: ""



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On the road with David Cameron: Fighting for his political life - YouTube

On the road with David Cameron: Fighting for his political life - YouTube: ""



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Election 2015 live: HSBC threat to leave UK shows danger of Tory re-election, says Labour | Politics | The Guardian

Election 2015 live: HSBC threat to leave UK shows danger of Tory re-election, says Labour | Politics | The Guardian:



"HSBC, Britain’s biggest bank, has issued a stark warning about the economic risk of the UK pulling out of the European Union as it revealed it was considering moving its headquarters out of London.



The surprise announcement of a “strategic review” into where the bank should base its operations will stun politicians on the general election campaign trail.



HSBC listed the economic uncertainty created by the risk of the UK going alone - a blow to the Conservatives which have pledged to hold an in out referendum on the EU."



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Qatar adds Claridge's to hotel stable in deal with Barclay brothers - FT.com

Qatar adds Claridge's to hotel stable in deal with Barclay brothers - FT.com:



"Qatar has added to its collection of luxury London hotels after buying Claridge's, The Berkeley and the Connaught from Sir David and Sir Frederick Barclay, whose exit from the businesses comes after four years of legal wrangles.



Richard Faber, a spokesman for the Barclay brothers, said an agreement had been reached to “ensure an end to any litigation” over the ownership of the hotels and that the business “has been a very successful investment for us”.



The selling price was not disclosed but there were rumours at the beginning of March that the Abu Dhabi Investment Authority had offered £1.6bn, valuing the hotels at £3m per room. One source close to the deal on Thursday said that figure “might be a bit toppy”."



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Saudi market set for major boost from foreign investors | The National

Saudi market set for major boost from foreign investors | The National:



"The opening of the US$500 billion-plus Saudi stock market to foreign investors will help to boost inflows, improve corporate governance and reduce volatility, according to a Saudi official and analysts.



The regulator, the Capital Markets Authority (CMA), plans to publish the final rules for foreign investment in Saudi equities on May 4.



The rules will come into effect on June 1, and qualified foreign investors (QFIs) will be able to buy and sell blue-chip stocks from June 15."



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Abu Dhabi index falls over 1.5% with Dubai | GulfNews.com

Abu Dhabi index falls over 1.5% with Dubai | GulfNews.com:



"Abu Dhabi index fell more than 1.5 per cent on Thursday on profit-taking along with Dubai index as investors resorted to profit-taking.



The Abu Dhabi Securities Exchange General Index ended 1.58 per cent lower at 4,631.75, after hitting a low of 4,626.23. Shares worth Dh296 million were traded on the exchange.



“There was profit-taking activity after we saw resistance being built up post high turnover trading,” said Marwan Shurrab, fund manager and head of trading at Vision Investments & Holdings, adding “the main focus on Thursday was on banking sector.”"



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Low oil prices take toll on Oman, Saudi and UAE projects | GulfNews.com

Low oil prices take toll on Oman, Saudi and UAE projects | GulfNews.com:



"The value of projects awarded across the GCC increased 9.9 per cent quarter on quarter in the first three months of 2015 with the growth coming mostly from Qatar and Kuwait, according to data published by Abu Dhabi Commercial Bank (ADCB).



The value of GCC projects awarded rose to the highest level in the first quarter of 2015 seen since the second quarter of 2014. But the increase was limited to Qatar and Kuwait posting 287 per cent and 72 per cent increase in project awards, respectively.



“All other GCC countries saw quarterly falls in the value of projects awarded, with Oman (-43.3 per cent) and the UAE (-35.6 per cent) seeing the largest drops, to below their two-year averages in both cases. The impact of the lower oil price was also seen, with a number of projects placed on hold or cancelled, including chemical (Qatar) and hydrocarbon (Saudi Arabia) projects,” said Monica Malik, Chief Economist of ADCB."



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Saudi Arabia’s Solution to Global Oil Glut: Pump Even More Crude - Bloomberg Business

Saudi Arabia’s Solution to Global Oil Glut: Pump Even More Crude - Bloomberg Business:



"Saudi Arabia has a response to the global surplus of oil: Raise output to near-record levels and then pump even more.



The world’s biggest oil exporter, having abandoned last year its role of keeping global markets in balance, now has incentive to maximize output and undermine rival producers by using its reserve capacity, according to Citigroup Inc. and UBS AG. Just meeting its own domestic demand this summer will require a lot more fuel, others estimate.



The increase -- a snub to fellow OPEC members calling on the kingdom to cut production -- will heighten tensions when the organization meets in June. Oil plunged to a six-year low near $45 a barrel in January, six weeks after the Saudis overcame opposition within the group to keep up output despite surging U.S. shale supplies."



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StanChart Said to Consider Sale of Oman Retail Banking Business - Bloomberg Business

StanChart Said to Consider Sale of Oman Retail Banking Business - Bloomberg Business:



"Standard Chartered Plc is seeking to sell its retail banking business in Oman and has shelved a plan to close its Islamic retail business in the Gulf nation of Bahrain, according to three people with knowledge of the matter.



The British bank, which earns most of its profit in Asia, will retain its corporate and institutional clients in Oman, the people said, asking not to be identified because the information isn’t public. The sale in Oman, where it has three branches and employs about 100 people, may be offered to local banks, according to one of the people.



London-based Standard Chartered is scaling back after two years of falling profit amid slower economic growth in Asia. A 35 percent drop in shares in the last two years has led to a shakeup in top management, with chairman John Peace, CEO Peter Sands, Asia head Jaspal Bindra and Viswanathan Shankar, head of Europe, Middle East, Africa and Americas, all set to leave."



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Oil Set for 6th Weekly Gain as Airstrikes Shift Focus From Glut - Bloomberg Business

Oil Set for 6th Weekly Gain as Airstrikes Shift Focus From Glut - Bloomberg Business:



"Oil headed for a sixth weekly advance as renewed speculation that Middle East shipments may be disrupted amid Saudi-led airstrikes in Yemen shifted focus from the expanding U.S. glut.



Futures were little changed in New York and are up 3.2 percent this week. Raids by a coalition of mostly Sunni Muslim nations against Shiite rebels marked an escalation of the civil war in Yemen, a country near major oil fields and adjacent to key shipping routes. While U.S. crude stockpiles are at an 85-year high, data on Wednesday showed the nation’s output slid for a second week amid a drop in drilling activity.



Oil is rebounding from a six-year low in March amid speculation the drilling slowdown and improved fuel demand will help drain a market’s oversupply. Vitol Group, the world’s biggest independent oil trader, said this week that crude prices won’t fall below $50 a barrel for sustained periods."



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