Fresh seven-year low for Dubai stocks as local and global financial problems escalate
The Dubai Financial Market dropped to a fresh seven-year low of 1,355 yesterday weighed down by the rapidly deteriorating eurozone debt crisis and further fall-out in the local financial sector with job cuts at Shuaa…
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Financial markets now on the brink of a 2008-style crash
Financial markets have stepped up to the edge and so far their performance is entirely consistent with our warning of less than a month ago about an imminent dramatic crash (click here).
From a…
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Markets braced for more turbulence on US budget block and new Spanish government
The US Congress looks deadlocked over $1.2 trillion in long-range budget cuts this week and the election of a new Spanish government yesterday is going to do little to calm market nerves with central control…
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Flat growth scenario for UAE banks in 2012 predict agencies as deleveraging bites
Even the cushion of record oil revenues in 2011 is unlikely to offset the continuing drag of bad loan provisions from the real estate bust in the UAE on the local banking sector. This restriction…
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Middle East gets its first ever online gold and silver trading platform
Gold.ae has launched as the Middle East’s first ever online gold and silver trading platform, an indication of the growing interest in investment in precious metals in the region. It operates under the tax-free umbrella…
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Investcorp makes $300m investment in US real estate but buying too early?
Bahrain based investment bank Investcorp has just announced three more estate acquisitions in the USA bringing the total to eight worth some $300 million this year. It is a bold play on the recovery of…
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JLT Freezone outsells Abu Dhabi’s Kizad by a factor of 10
The Dubai Multi Commodities Centre’s Jumeirah Lake Towers Freezone has welcomed over a thousand new companies so far this year, bringing the total of registered companies in the JLT to 3,600, while the Khalifa Industrial…
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Does gold and silver face a 2008-style correction now?
The sharp drop in the gold and silver price last week to around $1,720 and $32 respectively, in the context of rising eurozone yields and falling global stock markets is setting the scene for a…
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Legendary investor Jim Rogers says global collapse a done deal
The US has shot all its bullets with past bailouts and this will not prevent a 2012-13 recession says Jim Rogers, the former hedge fund manager and partner of George Soros.
You have to take…
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US bank exposure to Italy highest after total debt owed to France
Far from being insulated from the eurozone financial crisis the US is the most exposed nation after France because of its $205.3 billion in bank guarantees and derivative contracts, according to the table below from…
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