Global central banks in panic action to free up credit, will this work?
Global central banks have thrown analysts today with a coordinated action to boost the availability of funds to banks, particularly in the eurozone where several major banks are thought to be close to technical insolvency.…
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S&P downgrades HSBC, Citi, UBS, Barclays and other top banks
Standard & Poor’s sent bank stock futures lower on Wednesday with a downgrading of dozens of the world’s top banks including some active in the Gulf States such as HSBC, UBS, Lloyds, JP Morgan, Citi…
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Socialist Britain will drive more expats away to the Gulf with its austerity
Not since the 1930s have Britons been asked to take a bigger cut in their standard of living. With the greatest burden falling on the richest 20 per cent of the population this austerity can…
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Volatile silver up 18% in 12 months lagging gold’s 25% gain, can silver catch up?
Precious metal investors have little to complain about with gold up 25 per cent and silver by 18 per cent in the past 12 months. By comparison many equity investors have lost money. But behind…
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Air freight contraction in Dubai first indicator of a local and global slowdown in trade
Falling air cargo movements are always a good lead indicator of an economic slowdown as this shows a switch to cheaper and slower methods of moving freight. Global figures show a 4.6 per cent fall…
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Post-holiday madness as OECD and monetary data points to eurozone slump
Stocks rallied across the world on Monday with some good US holiday spending over the weekend taken to heart rather than the OECD report claiming that the eurozone and UK are already dipping back into…
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7.3% paid on Italian bonds belies claim that eurozone leaders are making progress
Rumblings of optimism again about the eurozone leadership getting its act together and an obviously planted story about the IMF preparing a $800 billion bailout still left Italy having to pay 7.3 per cent on…
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Gold and silver prices jump as IMF denies $800bn rescue for Italy and Spain
The International Monetary Fund has denied that it is preparing an $800 billion assistance package to backstop Italian sovereign debt as a lender of last resort after a report in La Stampa, with Spain also offered…
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Why is UAE shopping so expensive when there is no VAT and retail rentals are low?
UAE retailers must be making huge profit margins because they charge high prices for goods and yet do not have to stump up 20 per cent VAT as in Europe and their rents are way…
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Germany printing Deutsche Marks, British Foreign Office warns of euro chaos
Germany has its printing presses working overtime but they are not printing euros but Deutsche Mark notes in case the eurozone sovereign debt crisis ends in a return to national currencies.
At the same time…
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