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Saturday, 9 January 2016

Underperforming but not underpaid – hedge funds accused of rewarding failure | Business | The Guardian

Underperforming but not underpaid – hedge funds accused of rewarding failure | Business | The Guardian:

"When the European Central Bank announced a smaller-than-expected stimulus plan last month, Brevan Howard, one of Europe’s largest hedge funds, was one of the biggest casualties. Its master fund is said to have lost $670m after misreading the runes.

From being ahead on the year by 2.4%, the fund went 1.2% behind and finished the year down 1.99%, according to figures that came out last week. The performance, though not dismal, must have disappointed investors.

But if anybody expected such an event to have any financial impact on the firm’s partners, they have now have been disabused of that notion."



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Goldilocks and the Chinese bears | Authers' Note - YouTube

Goldilocks and the Chinese bears | Authers' Note - YouTube: ""



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UAE markets not immune to global concerns | GulfNews.com

UAE markets not immune to global concerns | GulfNews.com:

"Last week the UAE could not escape global bearish sentiment due to a drop in oil to an 11-year low, and declines in global equity markets. China tipped into mini-crash mode, and major markets in Europe, Asia and the US fell below key price support levels. In the US, growth leaders, the FANG stocks, Facebook, Amazon, Netflix and Google’s parent Alphabet, fell sharply. These stocks were the leaders last year and make up approximately 26 per cent of the Nasdaq-100 Index. When market leaders start to turn down it does not bode well for the future of the wider market. It now looks like the US market could be moving into a more serious correction thereby adding to concerns for developed and emerging equity markets, including the UAE.

The Dubai Financial Market General Index (DFMGI) fell by 184.57 or 5.86 per cent last week to close at 2,966.43, a three-week low. There were only five advancing issues while 29 dropped, and volume dipped below the previous week.

The sharp sell-off puts the recovery rally off the December spike low of 2,851.24 at risk of failure."



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Oman’s conservative 2016 budget | GulfNews.com

Oman’s conservative 2016 budget | GulfNews.com:

"Oman’s budget for fiscal year 2016 takes into account unwelcome realities of the oil market. Last week, oil prices dropped to below $35 a barrel, the lowest in 11 years.

With regards to fiscal year 2016, projected statistics call for expenditures of $30.9 billion and revenues of $22.3 billion, and thus a deficit of $8.6 billion.

The figures do not compare positively with original 2015 statistics, which assumed expenditures and revenues of $36.6 billion and $30 billion, respectively, and ensuing deficit of $6.6 billion."



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Shock, Laughter Greet Plan for Saudi Arabia's Record Oil IPO - Bloomberg Business

Shock, Laughter Greet Plan for Saudi Arabia's Record Oil IPO - Bloomberg Business:

"When one financial adviser heard about Saudi Arabia’s plans to list a company larger than the economies of most nations, he had to pull over his car because he was laughing so hard.
Saudi Arabian Oil Co., or Aramco, the world’s largest oil producer, said Friday it’s considering an initial public offering. It confirmed an interview with Deputy Crown Prince Mohammad bin Salman published in the Economist Thursday. The news was greeted with incredulity in the financial industry, according to interviews with a half dozen bankers who do business in the Middle East. They asked not to be identified to protect their business interests."



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