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September, 2015

  • 19 September

    Lulu Hypermarket enters Indonesia with $500m plan

    Lulu Group will open its first hypermarket in Indonesia’s capital city of Jakarta by this year-end as part of its five-year plan to invest $500 million in the South East Asian country. The group is also planning contract agricultural farming in Indonesia to ensure smooth supply of food stuff and agricultural products to its more than 100 outlets spread across …

  • 18 September

    Etisalat shares up on first day of foreign trading

    Shares in Etisalat climbed 1.8 percent yesterday on the first day it opened up to foreign and institutional investors. The UAE telco also saw its highest daily trading volume on record, with over 42 million Etisalat shares traded in one day. The opening bell saw shares rise by 3.5 percent, dominating trading in Abu Dhabi, but eventually fell back to …

May, 2015

  • 24 May

    The UK government has started selling off internet addresses that it no longer uses

    The UK government has started selling off internet addresses that it no longer uses. The first group of 150,000 addresses has been snapped up by a Norwegian firm called Altibox for about £600,000. The addresses are becoming valuable because the net has almost outgrown the addressing scheme it adopted in the 1970s. If the UK government sells off all the …

April, 2015

  • 5 April

    Greece preparing for Grexit, own currency – media

    Athens is currently trying to negotiate a new bailout deal with its Troika of creditors, but if that falls ‘Plan B’ could reportedly involve getting rid of the euro and cutting off its banking system from the European Central Bank. Greece’s government is getting ready to nationalize the country’s banks and return to the the drachma, the Telegraph reported citing …

  • 1 April

    World could run out of minable gold in 20 yrs – report

    The explored reserves of gold, diamonds and zinc will be enough for 20 years of extraction, according media reports citing a Goldman Sachs research. The explored reserves of platinum, copper and nickel will last for 40 years. “The combination of very low concentrations of metals in the Earth’s crust, and very few high-quality deposits, means some things are truly scarce,” …

March, 2015

  • 17 March

    The Three Most Important Charts Today

    The running theme of the U.S. economic picture right now is contradiction. The labor market seems strong, but wages are still flat, and many other economic indicators are weak. Oil prices are plummeting and drillers are cutting back, but oil production keeps surging. To take another example, housing starts were released today—and were a huge miss. (A 17 precent drop vs. a consensus …

February, 2015

  • 1 February

    Dubai Stocks Rise Most in 6 Weeks on Oil; Saudi Jumps on Payout

    (Bloomberg) — Dubai stocks advanced the most in six weeks after oil rallied on signs a price slump will curb output. Saudi Arabia’s benchmark index rose after King Salman ordered bonuses of two months’ salary to be paid to government workers. The DFM General Index added 4.5 percent, the most since Dec. 21, to close at 3,840.22. Abu Dhabi’s ADX …

January, 2015

  • 28 January

    Yahoo to spin-off Alibaba shares as earnings slide

    The spinoff will allow Yahoo’s chief executive Marissa Mayer to focus on the firm’s core operations Yahoo has announced a plan to spin-off its 15% stake in China’s Alibaba Group and hand the business to its shareholders. In creating a separate company that is made up of its stake in Alibaba, Yahoo will avoid a large tax bill. Yahoo also …

  • 21 January

    Wall St Week Ahead -For US stocks, investors mull a correction | GulfNews.com

    New York: This week may show whether US stocks are finally undergoing a long-awaited correction or if a recent run of losses are just a bump on the road to more gains. It’s been more than three years since the S&P500 has dropped 10 per cent or more. This month, the benchmark index fell five sessions in a row, from …

  • 19 January

    Oil prices slip on Chinese data, record Iraq output

    A man fills up his car at a petrol station in Rome January 6, 2015. CREDIT: REUTERS/MAX ROSSI (Reuters) – Brent crude oil prices fell below $50 a barrel on Monday after the global economic outlook darkened and Iraqannounced record oil production. The world’s biggest energy consumer, China, faces significant downward pressure on its economy, its premier Li Keqiang was …