Inflation and weak rial push Iran’s middle class towards poverty - FT.com

Inflation and weak rial push Iran’s middle class towards poverty - FT.com:

"

As she points to the empty shelves of her freezer, Nahaal sighs, remembering how they used to be stuffed with meat and delicacies.
Now she can barely make ends meet. “I have never felt under such financial pressure in 15 years of married life,” the 43-year-old retired secretary says in her rented apartment in Motahhari, a central Tehran neighbourhood.
“My husband and I have forgotten about our own needs – sometimes we even forgo medical treatment – and we only focus on education, food and the health of our daughter.”"

'via Blog this'

Guest post: Yukos and state-sponsored corruption in Russia | beyondbrics

Guest post: Yukos and state-sponsored corruption in Russia | beyondbrics:

"

By Bruce Misamore

Ten years ago this month my friend and business colleague, Mikhail Khodorkovsky, was arrested at gunpoint in Novosibirsk – the start of a chain of state-sponsored intimidation and corruption in Russia. There is no doubt that the hand of Vladimir Putin and the Kremlin was very much at the steering wheel for this very public and televised event. The shock of this political act reverberated around the world – no more so than in the boardroom at Yukos Oil Company headquarters.

At that time Yukos was a primary engine of the Russian economy with over 110,000 employees and tens of thousands of shareholders around the world expecting us to propel forward Russia’s most successful company. Never did we think we would find ourselves at the mercy of an intensely powerful and contrived campaign of obfuscation and intimidation orchestrated by various Kremlin organs; a campaign wherein billions of dollars of shareholders assets were stolen."

'via Blog this'

Chart of the week: the world’s most expensive offices | beyondbrics

Chart of the week: the world’s most expensive offices | beyondbrics:

"We often see reports of the world’s most expensive cities. But what about the most expensive bits of the most expensive cities?

A new list compiled by property company Jones Lang LaSalle brings us a view of the priciest places to work in some very pricey cities.

Our chart shows asking rents per square foot in the world’s most exclusive office areas. Perhaps surprisingly, only three of them are in emerging markets (though others are in markets that emerged in the recent past). This may be explained by the fact that JLL has excluded cities with too few property transactions or “severe supply issues” – such as Rio de Janeiro, Lagos and Luanda.

"

'via Blog this'

▶ The week ahead: Behind the wheel - YouTube

▶ The week ahead: Behind the wheel - YouTube:

"Published on 25 Oct 2013
Bangladesh wobbles, Argentina votes, the Fed holds a pow-wow and Saudi women hit the road


"

'via Blog this'

▶ Questions for Mark Carney - YouTube

▶ Questions for Mark Carney - YouTube:

"New governor of the Bank of England, Mark Carney, answers questions from chief executive of Santander UK, Ana Botin, financier Evelyn de Rothschild and Frances O'Grady, TUC general secretary


"

'via Blog this'

Ukraine's Kernel sees its profits fall further on crop prices | Reuters

Ukraine's Kernel sees its profits fall further on crop prices | Reuters:

"Ukrainian agricultural producer Kernel expects falling crop prices to depress profit by a further 13 percent in the fiscal year ending June 2014.

The edible oil producer said it expected core EBITDA (earnings before interest, taxes, depreciation and amortisation) at $250 million compared with $288 million booked in the fiscal year which ended June 2013.

Kernel said it missed its 2013 guidance of $310 million due to lower than initially estimated sunflower seed availability and the "dramatic" decline of crop prices this summer."

'via Blog this'

▶ Why countries grow - YouTube

▶ Why countries grow - YouTube:

"Nations rich in transferable skills have more growth potential than those that merely exploit their natural resources, according to Harvard's Ricardo Hausmann. In part one of a discussion with John Authers he explains how to map a country's usefulness.


"

'via Blog this'

3 Reasons Behind the Sell-off in Oil | PRAGMATIC CAPITALISM

3 Reasons Behind the Sell-off in Oil | PRAGMATIC CAPITALISM:

"WTI crude oil has undergone a substantial correction in the last few days. What’s going on?

A few reasons for this price adjustment come to mind:

1. Iran seems to be getting ready to enter the market as it prepares for sanctions to be lifted."

'via Blog this'

Yandex’s Google Premium Shrinks on GDP: Russia Overnight - Bloomberg

Yandex’s Google Premium Shrinks on GDP: Russia Overnight - Bloomberg:

"Yandex NV (YNDX), Russia’s biggest Internet company, fell in New York, narrowing its premium to Google Inc. on concern the nation’s economic slowdown will reduce sales.
Shares of Yandex dropped 0.5 percent to $40.79 yesterday. The decline sent valuations to 36 times estimated earnings, or 53 percent above Google’s multiple, shrinking the widest gap in 17 months reached on Oct. 10. The Bloomberg Russia-US Equity Index of the most-traded Russian companies in the U.S. advanced 0.3 percent to 104.81, led by OAO Rostelecom. RTS stock-index futures fell 0.2 percent to 148,660 in U.S. hours."

'via Blog this'

Oil fuels Arabian Gulf port expansion | The National

Oil fuels Arabian Gulf port expansion | The National:

"Arabian Gulf states are using their oil revenues to develop ports alongside free zones and industrial complexes as a way to create employment, drive trade and diversify income away from oil.

Big port projects are springing up to cater to increased trade between the east and the Gulf, which is becoming increasingly connected to areas such as west Africa. Gulf ports also service nearby countries such as Iraq.

“We expect that the volume to and from the region will continue to grow,” says Lars Nielsen, the managing director of UAE, Qatar, Oman and Iran for the shipper Maersk Line."

'via Blog this'

Dubai World Central in investment surge | GulfNews.com

Dubai World Central in investment surge | GulfNews.com:

"The Dubai World Central is starting to get a lot of traction and it is not just confined to airlines launching flights from the emirate’s new aviation hub.
The master-development is garnering attention for its commercial space, with multinationals making a beeline for prime space there, according to a new report on Dubai’s commercial realty prospects by Knight Frank. “With the Dubai World Central HQ building now near full occupancy, including global FMCG corporations such as Nestle, occupiers are starting to consider available space within the surrounding business park buildings,” the report noted.
And as the countdown nears for the Expo 2020 host city announcement next month, “Investors, developers and occupiers are beginning to look at Dubai World Central as a potential hub of activity,” the report said."

'via Blog this'

Emaar Properties quick to turn real estate boom into profits « ArabianMoney

Emaar Properties quick to turn real estate boom into profits « ArabianMoney:

"Emaar Properties has posted a 50 per cent surge in third quarter profits to $158 million on a 43 per cent advance in revenues to $623 million due to a tripling of off-plan real estate sales on a year ago. The Dubai Mall also saw a 24 per cent jump in footfall in the year rising to six million visitors.

Investors will doubtless be impressed by this company’s ability to translate a booming Dubai real estate market into such an instant improvement in profits. Dubai real estate selling prices and rentals have risen by the most in the world over the past 12 months, ahead of mainland China and Hong Kong."

'via Blog this'

Arab ad industry is ‘corrupt’ says head of Abu Dhabi’s twofour54 - Alarabiya.net English | Front Page

Arab ad industry is ‘corrupt’ says head of Abu Dhabi’s twofour54 - Alarabiya.net English | Front Page:

"The Arab advertising industry is ‘corrupt’ and deals in unreliable audience data, according to the chief executive of Abu Dhabi’s media zone twofour54.
Noura al-Kaabi, speaking to Al Arabiya on the sidelines of the Abu Dhabi Media Forum, said that Middle Eastern advertising executives and TV channels are essentially “fooling” people with their claimed viewership numbers.
“We are in a region where the media market, from an advertisement perspective, is corrupt,” al-Kaabi said.
“We have the advertisers that are monopolizing the market, and showing that there are certain channels, certain programs that have a bigger share,” she added. “The data is basically something that they get from unreliable measurement systems.”"

'via Blog this'

▶ Core questions at Credit Suisse - YouTube

▶ Core questions at Credit Suisse - YouTube:

"Shares in Credit Suisse dropped after third-quarter results and a restructuring exercise that will create a non-core division. Lex's Vincent Boland and Oliver Ralph discuss the changes.


"

'via Blog this'

Lionel Barber talks to Mark Carney - YouTube

Lionel Barber talks to Mark Carney - YouTube:

"Lionel Barber, editor of the Financial Times, talks to the new Governor of the Bank of England, Mark Carney, about his direction for the central bank.


"

'via Blog this'