Markets

US Fed to stand pat as inflation conundrum persists

Washington - Muslimchronicle

The moribund inflation seen in the world's largest economy over the last year is a "mystery," a "surprise" and a "concern" all at once, in the words of US central bank chief Janet Yellen. And the dilemma -- why price pressures have not picked up despite nearly a decade's worth of falling unemployment and growth -- will be squarely atRead more

McDonald's reports 47.7 pct jump in 3Q earnings to $1.9 bn

New York - Muslimchronicle

McDonald's reported a jump in third-quarter profit Tuesday, boosted by better sales in key markets and a one-time infusion of funds from refranchising Chinese and Hong Kong restaurants. Net income for the quarter ending September 30 was $1.9 billion, up 47.7 percent from the year-ago period. That included a gain of about $850 million from the sale of China andRead more

‘Saudi Now’ markets and economics app launched

London - Muslimchronicle

Thomson Reuters has launched the “Saudi Now” application aimed at financial professionals seeking markets and economics data on Saudi Arabia. The launch was announced at the Future Investment Initiative organized by the Public Investment Fund in Saudi Arabia. The app features intelligent information, analytics, charts and visual insights of various asset classes across the Saudi economy and markets. It offersRead more

Saudi Aramco CEO says market listing is on track for 2018

Dubai - Muslimchronicle

Saudi Aramco's initial public offering will take place in 2018 as planned and the listing venue will be revealed in due course, the oil company’s CEO said in an interview broadcast on Monday. “We have always said that we will be listing in 2018, and to be more specific, in the second half of 2018,” CEO Amin Nasser told CNBC.Read more

Tokyo's Nikkei index posts longest-ever winning streak

Tokyo - Muslimchronicle

Tokyo's Nikkei 225 on Monday posted the longest winning streak in its nearly 70-year history as markets cheered the weekend election victory of Japan's pro-business prime minister. The benchmark index rose 1.11 percent, or 239.01 points, to end the day at 21,696.65, its 15th consecutive rise and the longest since it came into existence in 1950. The broader Topix indexRead more

Ireland unveils loans to help small businesses cope with Brexit

Dublin - Muslimchronicle

The Irish government unveiled Tuesday a 300-million-euro ($354 million) loan scheme for small businesses buffeted by Brexit, in a move designed to spur innovation and investment needed to tap new markets. The loan scheme for small and medium-sized businesses was announced as part of a major Brexit-proofing spending package in Irish Finance Minister Paschal Donohoe's 2018 budget. The heavy relianceRead more

HSBC Middle East downgraded by Moody’s

Dubai - Muslimchronicle

Ratings agency Moody’s Investor Service has downgraded HSBC Middle East’s rating by one notch due to the “weakening capacity” of its parent company HSBC Holdings to provide the bank with support. HSBC Middle East’s long-term deposit rating was downgraded to A3 from A2. It follows the earlier downgrade of HSBC Holdings’ rating to A2 from A1 on Sept. 27. TheRead more

Structural changes in energy market

Muscat - Muslimchronicle

Sniff and Scurry, the characters in the 90s classic, “Who moved my cheese?” by Spencer Johnson, are of relevance to energy firms and hydrocarbon-based economies today. Both these characters sniff out the change early and scurry into action against Hem, who denies and resists change due to fear and over optimism. The emerging structural changes in energy markets are nearRead more

China stocks end down, resources firms weigh

Shanghai - Muslimchronicle

China's major stock indexes slipped on Thursday, as developers and the materials sector weakened, offseting gains in financial firms buoyed by expectations of another U.S. rate increase. The Fed on Wednesday said it would start to shrink its massive balance sheet next month and signalled one more rate hike later this year. For months, markets had been steadily dialing backRead more

Hong Kong shares end higher led by financials, property

Hong Kong - Musimchronicle

Stocks in Hong Kong followed Asian markets higher and rose for the third session in a row on Thursday, underpinned by robust gains in financial and property stocks. The market resumed trading after a one-day closure for a strong typhoon. The Hang Seng index rose 0.4 percent, to 27,518.60, while the China Enterprises Index gained 0.9 percent, to 11,051.00 points. TheRead more