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According to the World Bank, interest rate increases by central banks around the world could lead to a global recession in 2023. To combat rising prices, central banks have increased rates “with a degree of synchrony not witnessed over the preceding five decades,” the report said. The rate of price growth, or inflation, just reached […]
Alibaba intends to add a primary listing in Hong Kong to its New York presence, seeking mainland Chinese investors as the first major corporation to take advantage of a regulation change in the financial centre to attract high-tech Chinese enterprises. Alibaba’s Hong Kong-listed shares increased by 6%. The shares of the tech titan are already […]
Cybersecurity attacks are a persistent issue, particularly for Middle Eastern businesses and organizations. These threats can halt operations, damage a company’s reputation, and result in costly legal action. The more technology a company relies upon, the more vulnerable it is to cyberattacks and challenges. Hackers are increasingly focusing on Middle Eastern firms that are converting […]
Shares of the state-owned Life Insurance Corporation of India (LIC) were set to open at an 8% discount from their IPO price on Tuesday. In pre-open trade, LIC shares were trading at 872 rupees, compared to the offer price of INR 949. This valued the company at ₹5.7 trillion (INR) or $73 billion (USD). Since […]
The US dollar ($) remains at a two-decade high. Investors await new inflation data to determine how aggressively the Federal Reserve needs to tighten monetary policy to keep increasing prices in line. On Tuesday, gold prices reversed course and plummeted as the dollar strengthened again. Silver declined 0.8% to $21.61 per ounce on the spot […]
The NOPEC (No Oil Producing and Exporting Cartels) Act was passed by a Senate subcommittee on Thursday with a 17:4 vote. The measure is meant to safeguard American consumers and companies from artificially inflated gasoline and heating oil prices, but some analysts warn that enacting it might have unexpected effects. This bill is now passed […]
Uber, the ride-hailing and delivery service, has lost $5.9 billion (£4.7 billion), owing to its investments in other businesses. However, Uber Technologies Inc said on Wednesday that it did not need to increase incentives to attract more drivers and that the second quarter would be strong. Uber shares fell 9% in early trade. Investors were […]
Institutional investors flocked to buy shares in India’s state-run insurance giant Life Insurance Corporation (LIC) in a $2.75 billion (£2.18 billion) initial public offering. Bidding for anchor investors began on May 2, but the general share auction begins on May 4 and ends on May 9. Because of the Ukraine crisis and the outflow of […]
Netflix announced on Tuesday that it lost 200,000 paid customers in the first quarter, the first drop in over a decade, and warned of more difficulty coming. Netflix expects a 2 million paying subscriber drop in the second quarter globally. October 2011 was the last time Netflix lost subscribers. Following the revelation, the company’s stock […]
One of the largest holding companies in middle east ADQ, has announced its plans to list Abu Dhabi Ports on Abu Dhabi Securities Exchange. A portion of existing shares is expected to be sold on the listing of Abu Dhabi Securities Exchange (ADX) to investors in the UAE. The Chairman of Abu Dhabi Ports, H.E. […]
The England based online food delivery company, Deliveroo is aiming for a valuation up to £8.8 billion ($12.2 billion) in its upcoming initial public offering (IPO) in London Deliveroo, which is backed by Amazon, has set a price range of between £3.90 and £4.60 per share for its initial public offering (IPO), implying an estimated […]
According to Deutsche bank survey Bitcoin and U.S tech stocks are regarded as biggest asset bubbles by the investors right now. The Survey was concluded after the responses from 627 market professionals between Jan 13-15, the majority of investors (89%) think that some financial markets are in bubble territory. In those bubbles, Bitcoin and U.S. […]
