| Icap rides volatile markets to beat forecasts
Shares in Icap made their biggest one-day gain on Thursday after the world's largest interdealer broker said its full-year pre-tax profit would top analysts' expectations. The group, which brokers transactions between banks, said unprecedented losses for banks and insurers had boosted trading of bonds, currencies and commodities. .
ACM Silver Sponcer Forex Expo in Abu-Dhabi
(MENAFN Press) ACM Advanced Currency Markets SA has once more joined the 2nd Middle East Forex Expo as a Silver Sponsor following its very successful presence in the First event which was concluded in Dubai last month. The 2nd Middle East Forex Expo will be held in Abu-Dhabi this November and will feature ACM as a leader in the world of Forex trading.
Based in Switzerland, and having its Middle East representation office in Dubai, ACM is among the world's largest and most competitive on-line Forex brokers. Today, ACM has second most visited on-line Forex site in the world and is the first online Forex broker to implant in the Middle East. The ACM platform deals in currencies commodities . The site is translated into 15 different languages and ACM is the only online trading platform to offer fully Islamic conditions to its clients.
HSBC to set up brokerage in UAE equity markets
The company, to be called HSBC Middle East Securities, will offer UAE domestic market brokerage services to both institutional and retail investors. The company is expected to begin trading for institutions by the end of 2007, and to offer retail brokerage services in 2008. Emirates Securities and Commodities Authority (ESCA), the regulator for the UAE's securities markets, recently granted HSBC authorisation to establish the brokerage company. The authorisation is subject to the various legal and infrastructural requirements meeting the approval of ESCA, as well ADSM and DFM. With this approval, HSBC is poised to become the first global bank on the UAE's exchanges. HSBC already buys and sells UAE shares on behalf of Western institutions through third party brokers. In addition, HSBC is a sub-custodian on both ADSM and DFM, and this service will continue to be provided by the bank's specialist sub-custody operation.
Macklin still cautious despite rebound
The Canadian equity market has rebounded from its summer pullback, but there remains a question mark about the outlook for earnings growth in the context of a slowing U.S. economy, says Ted Macklin, managing director at Toronto-based Guardian Capital L.P. "Equity valuations are attractive and could improve further with the decline in interest rates, but this is predicated on earnings growth remaining intact." The correction in the financial markets in August was healthy, he says, "as investors finally acknowledged some of the risks." In the Buy & Sell column of July 5, Macklin noted: "The stress factors are starting to appear in the Canadian equity market," and he suggested caution. He was spot on. It will take time to work through the problems that surfaced this summer in the financial markets, he says.
The Year in Review - 2007
Her co-chair, Herbert Lord, had unilaterally filed his report almost 4 months early, in July, leaving the Commission in what the court regards as a moribund state. Uncharacteristically, the National Trade Union Congress of Belize (NTUCB), which demanded the inquiry, has not raised its voice over the Commission’s demise. .
Yeah, I said it: Don’t bring back Mike Lowell
Just because he's a nice guy? Because he rode a hot streak to MVP of the World Series? Yeah, he did hit .320. Yeah, he did lead the team in RBI with 120. Yeah, he's a consummate professional. Guess what? So was Bill Mueller. You remember Billy Ballgame, right? The guy who won the batting title in 2003 with a line of .326/.398/.540? Hit two grandslams in a game from both sides of the plate? He hit .283/.365/.446 for the 2004 World Champion Red Sox, and then followed that up with a .295/.369/.430 line in 2005. We let him go. Mike Lowell took his place. Billy Ballgame played 32 games with the Los Angeles Dodgers. He hit .252/.357/.402 and his knee issues forced him to retire. The last time he donned a Boston jersey was this October… when he threw out the first pitch before Game 6 of the ALCS.
|
