Tuesday , January 23 2018

Recent News

$15bn worth of projects, funding recorded at WFES

Investments worth over $15bn announced at WFES 2018 1

Abu Dhabi / WAM More than $15 billion worth of projects and funding was announced at the World Future Energy Summit (WFES) and its co-located events, the International Water Summit and EcoWASTE Exhibition, which took place during Abu Dhabi Sustainability Week 2018, hosted by Masdar. The deals, which combined a ...

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2.5mn Chinese tourists to visit region by 2021

DUBAI / WAM A twenty-one percent increase in Chinese arrivals to the GCC is expected by 2021, rising to 2.5 million visitors annually, according to data released ahead of Arabian Travel Market (ATM) 2018, which takes place at the Dubai World Trade Centre in April. Published by Colliers International, the ...

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Stocks

Stocks, Treasuries gain as Senate vote to end shutdown

epa05942985 A clerk scrutinizes 100-dollar US banknotes at the headquarters of the Korea Exchange Bank (KEB) Hana Bank in Seoul, South Korea, 04 May 2017, to see whether there are any counterfeit bills. South Korea's foreign exchange reserves rose slightly in April from a month earlier due to a hike in the value of non-dollar currencies when converted into the US greenback. As of the end of April, the country's foreign exchange reserves came to 376.57 billion US dollar, up 1.27 billion US dollar from the previous month, the Bank of Korea (BOK) said.  EPA/YONHAP SOUTH KOREA OUT

Bloomberg Stocks and Treasuries gained, while the dollar erased losses as the US Senate prepared to vote on ending a partial government shutdown. The S&P 500 Index rose following a third straight weekly advance as investors awaited about 80 earnings reports this week, including from Netflix Inc. and Proctor & ...

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Hong Kong market rally drives share sale boom

epa05258132 A businessman walks past a display board showing global markets including closing information of Tokyo's Nikkei Stock Average (L, top), New York Dow (R, top) and NASDAQ (C), Sao Paulo market (R, bottom) and Hong Kong's Hang Seng Index in Tokyo, Japan, 14 April 2016. Tokyo's 225-issue Nikkei Stock Average was up 529.83 points, or 3.23 percent and closed at 16,911.05 as Wall Street hit its highest level this year.  EPA/KIMIMASA MAYAMA

Bloomberg Hong Kong’s market rally is benefiting developers to drugmakers, which rushed to sell stock in the biggest week for follow-on equity offerings in more than two years. Companies listed in the city priced a combined $2.5 billion of such share sales last week, making it the busiest week since ...

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Platinum is hedge fund darling

epa06353911 Workers cast silver into 30 kilograms bars at the Department of Precious Metals of the Glogow Copper Foundry in Glogow, south west Poland, 27 November 2017. The anodic sludge, which is a byproduct of the electrorefining of copper, is used to produce precious metals such as silver, gold and platinum-palladium concentrate. From the beginning of the year, more than 3.1 tons of gold and over 1,000 tons of silver were produced.  EPA-EFE/MACIEJ KULCZYNSKI POLAND OUT

Bloomberg After lagging behind other precious metals in 2017, platinum is finally outperforming, and hedge funds are taking notice. Money managers increased their bets on a rally for platinum, a commodity used in pollution-control devices for cars. Investors had been pessimistic on prices until the start of this year, but ...

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US stocks gain as earnings continue, BofA beats estimates

epa06415630 A clerk scrutinizes 100 dollar US banknotes at the headquarters of Korea Exchange Bank (KEB) Hana Bank in Seoul, South Korea, 04 January 2018, to see whether there are any counterfeit bills. South Korea's foreign exchange reserves hit a new record high in December due to a hike in the value of non-dollar currencies when converted into the U.S. greenback. At the end of December, the country's foreign exchange reserves came to 389.27 billion US dollar, up 2.02 billion US dollar from the previous month, the Bank of Korea (BBOK) said.  EPA-EFE/YONHAP SOUTH KOREA OUT

Bloomberg US stocks rose as earnings season continued with another major bank reporting healthy results. The dollar rose, while Treasuries declined with gold, as Congress appeared closer to a deal to avert a government shutdown after January 19. All major equity gauges were higher, with semiconductor companies leading gainers. The ...

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Bitcoin sinks below $10,000

epa06403161 A golden symbolic Bitcoin is pictured in Duesseldorf, Germany, 22 December 2017. Bitcoin, the cryptocurrency that has soared in value this year, plunged below 11,000 Dollars on 22 December, sinking by nearly half from a record high it hit less than a week ago. The cryptocurrency, which allows anonymous transactions unrestricted by global borders, is popular with tech heads, people suspicious of government and those seeking to launder money.  EPA-EFE/SASCHA STEINBACH

Bloomberg Bitcoin tumbled below $10,000, bringing its loss to almost 50 percent from a record set only a month ago, as increased scrutiny from regulators around the world weighs on the digital- coin craze. The largest cryptocurrency dropped 10 percent to $9,610.05 as of 9:33 am in New York, its ...

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