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Saturday, 21 November 2009 09:26 UAE time

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Bloomberg News

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Oilman’s heirs fight

Curry Glassell, the oilman's 52-year-old daughter, is fighting to keep the fortune in the family through a probate battle.

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China risks bubbles with ‘Bernie Madoff data’

China must create a healthy economy; not one that is run on steroids, says William Pesek.

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Hedge fund boxers take black eye in Hong Kong contest

Many of Hong Kong’s hedge fund managers find it easy to draw a link between managing money and martial arts.

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Pakistan TV still wary of US

Pak talk shows are fanning anti-American sentiment as terrorist violence grows and US ups drone attacks.

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Bubble in bubbles means it’s time to close bar

China and India share a dubious honour as the global crisis wanes as home to two of the most obvious stock bubbles.

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Salmon do U-turn in River Thames until sewers fixed

Twenty thousand salmon were released last year to see if they would migrate and return home to breed. Only three came back.

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Cash binge to end

Many prominent central bankers in the world will bail sooner than financial markets think, says Mark Gilbert.

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The princess diaries

Princess Rym Ali sits down with Arabian Business to talk funding, freedoms — and being kicked out of Baghdad.

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Kill the competition

Bloomberg chairman Peter Grauer speaks to Arabian Business on the rise and rise of the data dynamo.

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Save your 401(k) from next Lehman-style meltdown

It has been a year since the music died on Wall Street.

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Five companies that grew through the recession

Did your company's earnings grow through the recession?

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Presidential control freaks ruin democracies

Several Latin American leaders have contracted a potent virus called tyrannous flu, feels Alexandre Marinis.

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Tesco rations sugar in Malaysia as price surge boosts smuggling

Supplies of sugar are scarce in Malaysia because of a global shortage and a decades-old government price cap.

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Lehman’s wrath is felt in land of Genghis Khan

In the post-Lehman world, even isolated economies are still assessing the damage, says William Pesek.

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Two reasons to be skeptical about 3.7 percent growth

Champagne corks are probably popping at Liberal Democratic Party headquarters in Tokyo.

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China and the US deficit

In buying US Treasury securities, China isn’t being altruistic. It’s acting in its self-interest, says Caroline Baum.

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Montreal adviser ran C$50m Ponzi scheme, regulators say

Dominique Jackson, a student at the Community College of Denver, says Montreal financial adviser Earl Jones persuaded her to invest her inheritance with him and sell US stocks. Now she wonders if she’ll ever see the money again.

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Geisha turn barmaids to keep Japan’s ‘Floating World’ afloat

Japan's geishas face competition from thousands of bars where men pay for chit-chat with women.

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Dollar is funny money in push for world currency

Kevin Hassett discusses the possibility of a world currency emerging sooner rather than later.

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Royal reasons for overlooking financial meltdown

Economics hasn't offered convincing theories explaining the current crisis, says Matthew Lynn.

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Murder Inc thrives due to Russian omerta

World gov'ts must shame Russia into stopping murders of human rights activists, says Celestine Bohlen.

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BlackBerry, Natasha indexes need summer attention

You might think your summer vacation is nothing more than a week of lazing around, working out how some of those applications on your iPhone actually work, and getting reacquainted with your family.

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Goldman money phrase has rival in unlikely place

Ten years from now, Nicholas Cashmore may enjoy notoriety for another addition to the investor lexicon, says William Pesek.

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Teens, models, bailouts meet lucky leaders

If someone handed out a prize for the world's luckiest head of state, Brazil's President Luiz Inacio Lula da Silva should win it hands down. What about French president Nicolas Sarkozy, you say, who's married to the beautiful and talented Carla Bruni? Or how about Italy's Silvio Berlusconi, who parties with teenage girls? No, neither is as fortunate as Lula.

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Most GCC banks to restructure debt - Alvarez & Marsal

Global professional services firm says failed developers will hurt banks.

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Mega-wealthy survivors have never had it so good

There has probably never been a better time to be mega-rich, Matthew Lynn argues.

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Smokers gasp their last in Hong Kong’s bars as ban takes effect

Hong kong smokers will be squeezed out of the city's bars and clubs now that a tobacco ban has taken effect.

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Bonus lust isn’t dead yet at banks on the dole

it’s uncool to gulp down huge bonuses at a time of historic losses, says Ann Woolner.

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Post-Lehman world will mean W-shaped recoveries

Japan is perhaps an example of what many economies don't want to become.

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Being a bond trader used to be a big deal. It may be a big deal again

Before private equity and hedge funds started to throw their weight around, bond traders were the gunslingers of Wall Street.

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GM’s pension promises sucked it down the drain

Did pension debts ruin General Motors?

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Bloomberg chief says Dubai 'in good shape'

Financial data giant's president also says Gulf region less impacted than US, Europe by global crisis.

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Give up suicide pact enriching Google

Google has grown into a worldwide giant while newspapers have had their guts hollowed out, says Ann Worker.

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Morgan Stanley on India trumps Goldman on China

India's stock market almost lost control this week, and it was a great thing for the nation.

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Manhattan Financial District apartments get deepest price cuts

Apartment prices in Manhattan's Financial District feel the heat of the financial meltdown.

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‘Green shoots’ won’t lead economies out of the woods

Though some experts are seeing "green shoots" of recovery, "we aren't out of the woods yet", says Matthew Lynn.

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Crisis creates few good me

The US financial crisis is a test for those who put reputation above anything else.

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Fed’s flood may leave democracy needing bailout

The wise men of Washington keep finding more core beliefs that we have to give up. First it was free markets. Now it’s democracy.

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Buffett could buy North Korea as gift for Obama

Imagine the good that could come from buying out the despotic Kim Jong Ils of the world, William Pesek argues.

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Bankers should forgo bonuses for their own sake

This is a long, hard winter for anyone working in the financial services industry so don't push it.

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Private equity needs fixing before it’s too late

Private equity must be fixed rightaway - there is no point waiting until it is too late, says Matthew Lynn.

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Dollar is best looker in ugly currency parade

Relative to other currencies, the dollar is looking better by the day, argues Michael R Sesit.

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Bankers are about to take a 50 percent pay cut

It could be well into the 2050s before banking is booming again, argues Matthew Lynn.

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Bonus bans are too late to fix banking industry

For bankers, prospect of getting a big check at end of 2009 was already bleak. Now it is a whole lot worse.

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Obama will get one shot at new financial system

President Obama needs to roll up his sleeves and start getting on with the hard slog of saving the economy.

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Capitalism is worst system except for all the rest

Last year will be remembered as one that exposed fatal flaws in free market capitalism.

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Fed, BOJ signal we are all Islamic bankers now

Attending Islamic finance conferences these days, it’s hard not to notice how this investment class is catching on.

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Pirates give world markets a lesson in economics

The hijackings by Somali pirates last month would seem to have little to do with the financial crisis.

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Britain can't spend its way out of this recession

At best, this final splurge of spending will prove irrelevant. At worst, it risks turning the situation into a catastrophe.

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World is drowning in oil (again) after drought

Markets greeted the news of reduced oil supply by pushing prices down further. How quickly things change.

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Poles flee ailing Irish economy

The number of people leaving Ireland next year will outstrip those moving to the country.

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Rabble-rouser Malema uses youth

As a 16-year-old in a dusty township, Julius Malema incited fellow students to pelt their school with rocks.

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Stallion fees sink as financial crisis hits thoroughbred market

The global financial crisis is curtailing demand for thoroughbreds across the US and Europe.

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Indian brides replace traditional gold jewellery as prices rise

Ashima Lahiri will say her wedding vows in December wearing fake earrings, necklaces and bangles.

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Stone portrays George Bush as party boy

When Oliver Stone said he was making a movie about Bush, most expected a hatchet job. They were wrong.

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Obama fever overwhelms

The fear of Democrats this year is that presidential candidate Barack Obama's advantage in the polls is exaggerated.

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Three rules will help protect you from meltdown

The financial world has changed dramatically over the past month, but three truths haven't.

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Bank rescue: A bureaucratic nightmare

Cleaning up the mess of the US financial markets disaster will cause a mess of another kind.

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Race to the bottom

The London-New York fight to be the world's pre-eminent financial centre is now a race to the bottom.

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Lehman fails, cops caught eating doughnuts

What happened last week at Lehman Brothers Holdings Inc is nothing short of remarkable, and I'm not just talking about its death.

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McCain and Obama need to talk about the ‘D’ word

More Beatles concert than political rally or the definitive political speech of the last 60 years?

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Obama comes down to earth

There has never been a convention speech like it: Tens of thousands of people waiting to hear Barack Obama nomination acceptance.

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READER COMMENTS

  1. Somali pirates free UAE-owned cargo ship 02
    21 Nov ' 09 at 07:58
    In the old days pirate ships were blown out of the water as soon as spotted.Now they have to wait until they attack a ship and then...   More  »
  2. UAE announces Eid and National Day holidays 01
    20 Nov ' 09 at 15:56
    Eid and National Day are two great occassions and very close to each other. It would be a great act for the UAE authorities to extend...   More  »
  3. Where have all the optimists gone? 01
    20 Nov ' 09 at 16:54
    Dubai unfortunate is not more in fashion, the bubble was big , the growing went fast and the down turn even faster.Many of my clients...   More  »

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