OPEC‘s efforts to stimulate flagging prices are likely to fail once again because of its limited influence on the market, Mouhammed Choukeir, chief investment officer at Kleinwort Hambros, told CNBC on Tuesday. “Oil price has a life of its own…. You can see that since the beginning of the year clearly OPEC has tried its […]
Read moreBudget airline Scoot has vowed to be “aggressive” with its growth ambitions, unveiling five new destinations and a plan to double its fleet, following an official merger with Tigerair. Just months after announcing their intentions to pursue a tie-up under the single Scoot brand, the two Singapore Airlines-backed low-cost carriers are becoming one under a […]
Read moreGreece is making its return to the market Tuesday after a three-year absence with the sale of a five-year bond. Analysts have applauded the timing but caution the country is still in the hands of international creditors. The Greek Debt Agency is issuing a five year bond maturing in 2022 with a coupon rate of […]
Read moreThe rivalry between India and China is heating up as the heavyweight economies face territorial tensions on both land and sea. A fierce border stand-off in Bhutan’s Doklam region — triggered by a Chinese road construction project in a disputed area and a Bhutanese request for Indian help — is now entering its second month […]
Read moreBillionaire Elon Musk said Facebook Chief Executive Mark Zuckerberg’s understanding of the future of artificial intelligence (AI) is “limited”, as the spat between the two tech bosses continues. On Sunday, Zuckerberg took to Facebook Live talking informally to viewers while at a barbecue. A user submitted a question saying how they had seen a recent […]
Read moreCurrency, United States Finance
German business confidence reaches its highest level since country's reunification
German business confidence unexpectedly rose in July, a survey showed on Tuesday, hitting the third record high in as many months as Europe’s largest economy powered ahead and morale lifted across industry. The Munich-based Ifo economic institute said its business climate index, based on a monthly survey of some 7,000 firms, rose to 116.0 from […]
Read moreA massive private Chinese conglomerate pulled an unusual move on Monday, revealing its ownership structure after striking multi-billion dollar deals that have raised questions about corporate governance, strategic motivations, financial health and who exactly is calling the shots. HNA had its start as a small airline, and has now evolved into a giant, global conglomerate […]
Read moreCurrency, United States Finance
Op-Ed: UK leadership battle could leave an awe-inspiring choice for a post-May prime minister
Entire libraries are replete with lengthy tomes that attempt to define the essence and significance of political leadership through the ages; whether it is innate or earned, the power it can wield for better or worse, and the varying role that it plays in diversely governed societies across the globe. But as we approach the […]
Read moreNasdaq acquired a London-based regulatory technology firm Sybenetix which uses algorithms to catch rogue traders, the company said on Tuesday. The stock exchange said it is paying an undisclosed amount and intends to fund the purchase with cash. “Nasdaq is investing in the technologies, talent and capabilities that solve the complex challenges our clients face,” […]
Read moreCurrency, United States Finance
Iran already has a lot of problems, and the next one could be a banking crisis
Nothing is easy for Iran’s economy these days, and things could soon get even tougher. The U.S. House of Representatives is expected to pass a bill Tuesday to put new sanctions on Russia, North Korea — and Iran. A Senate version passed overwhelmingly last month. Iran is being targeted for its activities in Syria, its […]
Read more