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Friday, 16 October 2015

Legal fight looms over Ukraine’s $3bn debt to Russia - FT.com

Legal fight looms over Ukraine’s $3bn debt to Russia - FT.com:

"A legal fight is looming over a $3bn bond owed by Ukraine to Russia after Moscow refused to join other bondholders in a debt restructuring and both sides said they were prepared to take the matter to court.
Russia emerged on Thursday as the lone holdout in the $18bn restructuring deal offered by cash-strapped Kiev — involving a 20 per cent writedown on the value of its debt and extended repayments — which other private shareholders voted to accept."



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Isis Inc: how oil fuels the jihadi terrorists - FT.com

Isis Inc: how oil fuels the jihadi terrorists - FT.com:

"On the outskirts of al-Omar oilfield in eastern Syria, with warplanes flying overhead, a line of trucks stretches for 6km. Some drivers wait for a month to fill up with crude.
Falafel stalls and tea shops have sprung up to cater to the drivers, such is the demand for oil. Traders sometimes leave their trucks unguarded for weeks, waiting for their turn."



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Improving property yields make Dubai attractive again for investors | The National

Improving property yields make Dubai attractive again for investors | The National:

"Tumbling Dubai house prices are producing rental yields as much as three times better than central London.

While sales remain sluggish, initial yields of up to 10 per cent in parts of Dubai are three times those that are being achieved for prime residential property in London.

The spike in overall London property prices – up 71 per cent over a six-year period – means overall yields for London stand at 4 to 4.5 per cent, but yields for prime properties are just 3 per cent, according to Knight Frank."



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Has U.S. Housing and Real Estate Finally Recovered? - Bloomberg Business

Has U.S. Housing and Real Estate Finally Recovered? - Bloomberg Business:

"Metacapital Management founder Deepak Narula discusses the U.S. mortgage market, real estate and his investment ideas. He speaks on "Bloomberg ‹GO›." (Source: Bloomberg)"



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Egypt Devalues Pound Third Time in 2015 After Reserves Slide - Bloomberg Business

Egypt Devalues Pound Third Time in 2015 After Reserves Slide - Bloomberg Business:

"Egypt depreciated the pound for the third time this year after the nation’s foreign reserves tumbled and the currency fell to a record in black-market trading.
The pound weakened 1.3 percent to 7.9301 per dollar after the country’s central bank devalued it by the same margin at a regular dollar sale to local lenders, according to prices compiled by Bloomberg. That takes the currency’s decline for the year to 9.8 percent, making it the worst performer in the Middle East behind Algeria’s Dinar. Twelve-month non-deliverable forwards for the pound slumped 3.4 percent, the most on a closing basis in almost two months, to 10.2758 per dollar as of 3:35 p.m. in Cairo. Stocks fell the most this month. Egypt came under increased pressure to cheapen the pound after China’s surprise yuan devaluation in August fueled declines across emerging-market currencies as they sought to preserve competitiveness of their exports. Foreign reserves of the most populous Arab state fell the most in almost four years in September, the same month the country announced its current account deficit had ballooned to $12.2 billion, the biggest gap in central bank data going back to 2000."



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