Chinese stocks opened higher on Wednesday, with the benchmark Shanghai Composite Index up 0.01 percent, at 3,050.37 points.
The smaller Shenzhen index opened 0.06 percent higher at 10,858.7 points. The ChiNext Index, tracking China's NASDAQ-style board of growth enterprises, was up 0.11 percent to open at 2,282.07 points.Read more
Hedge funds have been liquidating their former record bullish position in crude futures and options putting downward pressure on oil prices in recent weeks.
But now the liquidation of old long positions is being replaced by the establishment of new short positions as fund managers try to capitalize on the downward cycle in prices.
Hedge funds and other money managers…Read more
Low-cost giant Ryanair remains on track for a record profit this year, it said on Monday, dodging turbulence caused by Britain's vote to leave the European Union thanks to pre-referendum bookings and high exposure to continental Europe.
While the airline still faces a cocktail of risks from Brexit, which may force it to cut profit forecasts later in the year,…Read more
German business morale fell only slightly in July, a benchmark survey showed, suggesting Europe's largest economy has weathered the immediate storm from Britain's vote to leave the European Union.
But fallout from Brexit, as well as strains to the social fabric caused by four high-profile acts of violence on German soil in the past week, could take their toll on…Read more
Sukuk issuance from key markets in H1, 2016 rose 11 percent compared to a year earlier, according to Fitch Ratings' analysis, underlining our expectation for gradually increasing issuance over the long term as more countries create supportive legal frameworks.
Sukuk as a proportion of total issuance in the GCC, Malaysia, Indonesia, Turkey and Pakistan were also slightly ahead of the…Read more
Global mergers and acquisitions may drop by as much as $1.6 trillion over the next five years unless Britain quickly agrees to leave the European Union under terms that give it continued access to the single market, according to a report released Monday.
While the UK's decision to leave the EU will reduce takeover activity under any scenario, a "disorderly"…Read more
Britain's economy picked up speed in the three months up to its vote to leave the European Union, data showed on Wednesday, helped by the biggest upturn in industrial production since 1999.
Sterling was little moved on the data and few in the financial markets expect the pace of growth will last into the second half of the year, with…Read more
In the context of the drop in oil prices, which has caused a level of disruption and re-prioritization of development agendas in Saudi Arabia and across the GCC, there is a move on the part of regional governments to look at new models for national revenue through economic diversification planning.
On its part, Saudi Arabia has embarked on National Transformation…Read more
SABMiller has paused integration work with brewing giant AB InBev, according to media reports on Wednesday, after AB InBev raised its takeover offer due to the plunge in the pound after the Brexit vote.
London-based SABMiller has asked its employees to halt work on integrating finance, technology, procurement and some supply-chain functions, according to reports in Bloomberg News and the…Read more
South Africa is likely to avoid a recession in 2016 but will not achieve the 0.9 percent growth target set by the Treasury in February, Finance Minister Pravin Gordhan said on Tuesday.
Gordhan also warned that the economy, which is still trying to undo the inequalities resulting from its racially divided history, could no longer rely on austerity measures to…Read more