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Beyond Baby Shark: Creator of viral hit eyes China with dinosaurs

Friday, 15 November 2019

The creator of the children’s song “Baby Shark,” which has become a global phenomenon, says the firm is eyeing the Chinese market, where the tune did not quite catch on, with a brand new character featuring dinosaurs. The popular song about a family of sharks has been a rallying cry at Lebanese anti-government protests, played at the White House and praised by President Donald Trump and become the unofficial anthem of the baseball World Series champions Washington ...

Turkey’s Halkbank shares drop after muted Trump-Erdogan meeting

Thursday, 14 November 2019

Shares of Turkey's Halkbank fell as much as 3 percent on Thursday after a meeting between the Turkish and US leaders did not appear to address US charges that the state-owned lender took part in a scheme to evade sanctions on Iran. The stock was down 2.02 percent at 0741 GMT despite a ban on short selling that Turkish authorities applied on Oct. 16 after US prosecutors filed the charges. Halkbank has dismissed them as related to short-lived US sanctions over Turkey’s Syria ...

Dubai’s Emirates NBD sells $205 mln additional stake in Network International

Thursday, 14 November 2019

Emirates NBD, Dubai’s largest lender, said in a statement that it has offloaded more stake in London-headquartered payments services provider Network International Holdings PLC, raising GBP 160 million ($205.2 million). The bank said in a statement on Wednesday that it sold 31 million ordinary shares in Network International at 515 pence ($6.61) per share. Emirates NBD also confirmed that Network International – which is listed on the London Stock Exchange – would not receive ...

NYSE owner to launch Murban crude futures contract on Abu Dhabi market

Monday, 11 November 2019

Intercontinental Exchange (ICE), the owner of the New York Stock Exchange, on Monday said it would launch a new exchange called ICE Futures Abu Dhabi to host futures contracts based on ADNOC’s Murban crude oil. ICE Futures Abu Dhabi will be set up in Abu Dhabi's financial center, the Abu Dhabi Global Market (ADGM). A futures contract is a contract for assets (in this case oil) bought at an agreed price but delivered at a later date. Futures contracts typically trade on an exchange and are ...

Gold could hit $1,700 by early 2020: Analysis

Sunday, 10 November 2019

Gold has been performing very well over the course of the year as global economic uncertainty and fears over a trade war have supported the precious metal – traditionally viewed as a safe haven investment by the investor community. “I think the low point in growth is still in front of us, not behind us, and that may also lead to further gold appreciation,” said Ole Hansen, head of commodity strategy at Saxo Bank. The price of gold could increase by up to 10-15 percent next year ...

Oil rebounds to $62 on hopes for US-China trade deal

Thursday, 7 November 2019

Oil rose above $62 a barrel on Thursday after China hinted at progress towards a trade deal with the US, raising hopes for an end to a long dispute that has weighed on economic growth and fuel demand. China and the US have agreed in the past two weeks to cancel tariffs in different phases, the Chinese commerce ministry said on Thursday without giving a timeline. The trade dispute has prompted analysts to lower forecasts for oil demand and raised concerns that a supply glut could develop in ...

Emirates REIT reports 81.1% net profit drop year-on-year for Q3 2019

Wednesday, 6 November 2019

Emirates REIT reported an 81.1 percent drop in net profit for Q3 2019 year-on-year due to revaluation losses on property as a result of market conditions, the fund manager said.Emirates REIT is the world’s largest Sharia-compliant real estate investment trust (REIT) and is listed on Nasdaq Dubai.The trust reported $5.9 million in net profit for Q3 2019, a significant drop from its Q3 2018 $31 million result.This does represent an uptick from Emirates REIT’s H1 2019 net profit of $1.1 ...

Saudi mall operator Arabian Centres plans debut dollar bond sale: Report

Wednesday, 6 November 2019

Saudi Arabian mall operator Arabian Centres is planning an inaugural sale of US dollar-denominated sukuk, or Islamic bonds, sources familiar with the matter told Reuters. The company, which went public earlier this year, is looking to raise $500 million from the issue, said the three sources. Arabian Centres did not respond to a request for comment, Reuters said. Goldman and HSBC are set to lead the transaction which could take place as soon as this year, ...

Japan’s SoftBank tumbles into losses over costly investments

Wednesday, 6 November 2019

Japanese technology company SoftBank Group Corp. has tumbled into losses for the fiscal second quarter over money-losing investments, including a bailout for office-space sharing startup WeWork.The Tokyo-based company reported Wednesday a July-September loss of 700 billion yen ($6.4 billion), down from a 526 billion yen profit the same period a year ago.SoftBank said it expects a special loss on the value of its shares of subsidiaries and associates of nearly 498 billion yen ($4.6 billion) for ...

Investors dump safe-haven bonds on trade deal hopes

Tuesday, 5 November 2019

Eurozone bond yields climbed to 3.5 month highs on Tuesday on optimism that US-China trade talks will lead to a de-escalation in tensions between the world’s two biggest economies. China is pushing US President Donald Trump to remove more tariffs imposed in September, according to overnight reports, while Beijing and Washington spoke of progress in the talks. US Commerce Secretary Wilbur Ross meanwhile said licenses for US companies to sell components to China’s telecoms giant ...

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