Dubai optimism fails to mask concerns on overheating risk - FT.com:
"Four years after a sovereign debt crisis thrust Dubai on to the front pages for all the wrong reasons, the Gulf city-state is celebrating a trade and tourism-led renaissance.
Last month’s decision to award the World Expo 2020 to the United Arab Emirates’ commercial hub gave the once-bruised city a much-needed international stamp of approval. Hosting the event is expected to deliver a two per cent boost to GDP.
Mohammed al-Shaibani, chief executive of the state holding company Investment Corporation of Dubai, said the emirate is in an “extremely comfortable” position. “Things look very, very positive,” he told the Financial Times in an interview."
'via Blog this'
Friday, 27 December 2013
United Arab Emirates FM in plot against Turkish government: Daily Yeni Şafak
LOCAL - United Arab Emirates FM in plot against Turkish government: Daily Yeni Şafak:
"United Arab Emirates is plotting against the Turkish government, Abdülkadir Selvi, Ankara Bureau Chief of pro-government daily Yeni Şafak claimed Dec. 27.
“All of our efforts are to turn Turkey into Egypt,” Foreign Minister of United Arab Emirates Abdullah Bin Zeyid said in a narrow-scoped meeting. “Dec. 17 attempted a coup and gave clues of an operation,” Selvi said in his column.
As Hürriyet Daily News approached the allegation, a Turkish Foreign Ministry official said they do not have any information regarding such a meeting.
The United Arab Emirates’ (UAE) $12 billion investment in a coal-based energy project was suspended in September after Turkey reacted strongly against the ministry coup which ousted the Muslim Brotherhood’s Mohamed Morsi.
“I hope their decision is not based on political reasons. I want to believe the decision is not political, but developments in Egypt and Syria seem to be affecting their energy decisions,” Turkish Minister of Energy Taner Yıldız said at the time."
'via Blog this'
"United Arab Emirates is plotting against the Turkish government, Abdülkadir Selvi, Ankara Bureau Chief of pro-government daily Yeni Şafak claimed Dec. 27.
“All of our efforts are to turn Turkey into Egypt,” Foreign Minister of United Arab Emirates Abdullah Bin Zeyid said in a narrow-scoped meeting. “Dec. 17 attempted a coup and gave clues of an operation,” Selvi said in his column.
As Hürriyet Daily News approached the allegation, a Turkish Foreign Ministry official said they do not have any information regarding such a meeting.
The United Arab Emirates’ (UAE) $12 billion investment in a coal-based energy project was suspended in September after Turkey reacted strongly against the ministry coup which ousted the Muslim Brotherhood’s Mohamed Morsi.
“I hope their decision is not based on political reasons. I want to believe the decision is not political, but developments in Egypt and Syria seem to be affecting their energy decisions,” Turkish Minister of Energy Taner Yıldız said at the time."
'via Blog this'
LOCAL - Prominent Turkish businessmen among arrest list in second corruption probe: Report
LOCAL - Prominent Turkish businessmen among arrest list in second corruption probe: Report:
"Prominent businessmen were among the 41 suspects who were issued arrest orders in the second corruption probe, daily Hürriyet reported Dec. 27.
The list of names contained in the official prosecution documents obtained by the daily included Nihat Özdemir, the chairman of Limak group, who is part of a consortium which has won the contract to build Istanbul’s third airport, Saudi businessman Yasin al-Qadi, who has been accused of financing terrorism in the past and the owner of the BIM discount retailer, Mustafa Latif Topbaş.
The second graft probe, reported to be larger than the first one that has shaken the government, was made public with great controversy after the head prosecutor of the case announced the investigation files were “taken from his hands.”"
'via Blog this'
"Prominent businessmen were among the 41 suspects who were issued arrest orders in the second corruption probe, daily Hürriyet reported Dec. 27.
The list of names contained in the official prosecution documents obtained by the daily included Nihat Özdemir, the chairman of Limak group, who is part of a consortium which has won the contract to build Istanbul’s third airport, Saudi businessman Yasin al-Qadi, who has been accused of financing terrorism in the past and the owner of the BIM discount retailer, Mustafa Latif Topbaş.
The second graft probe, reported to be larger than the first one that has shaken the government, was made public with great controversy after the head prosecutor of the case announced the investigation files were “taken from his hands.”"
'via Blog this'
Russia faced ‘year of lost opportunities’ in 2013 — RT Business
Russia faced ‘year of lost opportunities’ in 2013 — RT Business:
"Economically 2013 was a year of broken illusions for Russia. GDP added just 1.3 percent, while everybody expected an average growth of 4 percent.
“This was a year of lost opportunities,” as Deputy Minister for Economic Development Andrey Klepach put it.
Despite some progress in terms of improving the investment climate , infrastructure bottlenecks and a lack of domestic demand weighed down Russian growth in 2013, says Vedomosti newspaper.
The year ends with investment contracting and industrial production decreasing. December marked the continuing fall of manufacturing activity as the HSBC Purchasing Managers' Index (PMI), which serves as a barometer of business conditions, had its sharpest fall since December 2009."
'via Blog this'
"Economically 2013 was a year of broken illusions for Russia. GDP added just 1.3 percent, while everybody expected an average growth of 4 percent.
“This was a year of lost opportunities,” as Deputy Minister for Economic Development Andrey Klepach put it.
Despite some progress in terms of improving the investment climate , infrastructure bottlenecks and a lack of domestic demand weighed down Russian growth in 2013, says Vedomosti newspaper.
The year ends with investment contracting and industrial production decreasing. December marked the continuing fall of manufacturing activity as the HSBC Purchasing Managers' Index (PMI), which serves as a barometer of business conditions, had its sharpest fall since December 2009."
'via Blog this'
2013 in review: stock exchange winners and losers | beyondbrics
2013 in review: stock exchange winners and losers | beyondbrics:
"If you had $100 at the start of 2013, and took a punt on a few emerging market exchanges, which ones would have made you a fast buck, and which would have reduced you to tears?
Beyondbrics takes a look at the best and worst performers in 2013.
"
'via Blog this'
"If you had $100 at the start of 2013, and took a punt on a few emerging market exchanges, which ones would have made you a fast buck, and which would have reduced you to tears?
Beyondbrics takes a look at the best and worst performers in 2013.
 |
| Source: Bloomberg | Data to Dec 20 2013 |
"
'via Blog this'
▶ A financial markets overhaul - YouTube
▶ A financial markets overhaul - YouTube:
"Over-centralisation and a lack of human interaction has led economist Amar Bhidé to conclude it is time to rewind the clock on financial markets. In the first of a video series, he talks to John Authers about his reasoning for illiquid markets and a more personalised approach to finance.
"
'via Blog this'
"Over-centralisation and a lack of human interaction has led economist Amar Bhidé to conclude it is time to rewind the clock on financial markets. In the first of a video series, he talks to John Authers about his reasoning for illiquid markets and a more personalised approach to finance.
"
'via Blog this'
Hello 2014: don’t be afraid of slower Chinese growth | beyondbrics
Hello 2014: don’t be afraid of slower Chinese growth | beyondbrics:
"The 6th in our series of guest posts on the outlook for 2014 is by Michael Pettis
November’s Third Plenum proposed significant economic reforms to rebalance China’s economy and reduce its addiction to debt, in large part by reversing many of the processes that drove growth in the past three decades. Of course this potentially radical shift in China’s development model will make predicting economic performance in 2014 more difficult than ever.
And we have already seen how difficult reform is likely to be. The past four years were characterised by a stop-and-go process of decelerating growth, in which periodic attempts by the regulators to constrain credit caused the economy to slow sharply but, as policy makers backed off each time, both GDP and credit growth subsequently reignited, although at gradually declining paces. We will see this even more sharply in 2014, with a continued unstable balance between attempts to constrain credit growth and attempts to keep the economy from slowing too quickly."
'via Blog this'
"The 6th in our series of guest posts on the outlook for 2014 is by Michael Pettis
November’s Third Plenum proposed significant economic reforms to rebalance China’s economy and reduce its addiction to debt, in large part by reversing many of the processes that drove growth in the past three decades. Of course this potentially radical shift in China’s development model will make predicting economic performance in 2014 more difficult than ever.
And we have already seen how difficult reform is likely to be. The past four years were characterised by a stop-and-go process of decelerating growth, in which periodic attempts by the regulators to constrain credit caused the economy to slow sharply but, as policy makers backed off each time, both GDP and credit growth subsequently reignited, although at gradually declining paces. We will see this even more sharply in 2014, with a continued unstable balance between attempts to constrain credit growth and attempts to keep the economy from slowing too quickly."
'via Blog this'