Forum leader rings London Stock Exchange opening bell October 28, 2013 World Islamic Economic Forum Foundation chairman Tun Musa Hitam opened yesterday’s trading session at the London Stock Exchange alongside Alexander Justham,chief executive of London Stock Exchange Plc. “We have arrived,” Musa Hitam said after the event. He hailed the opening as a mark of the importance of Islamic finance to the capital. “There is no [...]
Deals worth billions to be struck this year October 28, 2013 An estimated £5.8bn worth of deals were struck at the eighth World Islamic Economic Forum, held last year in Malaysia. The biggest involved Singaporean billionaire Peter Lim, who agreed to build a motorsports hub in Iskandar, Malaysia, for $1.4bn (£870m). And with a record number of delegates set to attend this year’s event – around [...]
WIEF 2013 today October 28, 2013 Opening Session ■ 9am to 12.45pm. ■ Qu’ran Recitation and welcoming remarks by WIEF chair Tun Musa Hitam and Islamic Development Bank president Ahmad Mohamed Ali. ■ Opening address by Malaysian Prime Minister Dato’ Sri Mohd Najib Tun Abdul Razak. Business Networking Lunch ■ 12.45pm to 2pm, Capital Hall. Ministerial Panel: Policy Framework for Growth [...]
WIEF Diary October 28, 2013 Olympic Village Tour The London 2012 Olympic Village has taken on new life as a showcase for Qatari investment in the UK. In alliance with real estate investment company Delancey, Qatari Diar – Qatar Investment Authority’s property investment company – bought the site in 2011 for £557m, with a promise to build 2,818 new homes [...]
Ignore the cranks: Orthodox economics can account for the 2008 financial crash October 28, 2013 ONE OF the more annoying false memes of recent years has been the notion that standard corporate finance models have not worked in or since the 2008 financial crisis, and that no orthodox economics account of that crisis has been offered. As someone who implements standard finance models, and has written orthodox economics accounts of [...]
Technology has caught up with the BBC and the licence fee is now indefensible October 28, 2013 CONSERVATIVE Party chairman Grant Shapps has placed a question mark over the BBC’s licence fee funding model. In Shapps’s view, the Beeb needs to get its house in order before its Royal Charter is renewed in 2016 – to restore trust following the Savile affair and to salve public annoyance at executive payoffs. If it [...]
Rational self-interest: Why helping yourself is key to helping others October 28, 2013 IT USUALLY begins with Ayn Rand,” author Jerome Tuccille once wrote. He’s not wrong. An amazing number of people come to support a free society and a free market economy after reading Rand’s novels – especially The Fountainhead and Atlas Shrugged – in their student years. But then her novels have what young people want. [...]
Letters to the Editor – 29/10 – Failing reforms, Best of Twitter October 28, 2013 Failing reforms [Re: Welfare reforms rolled out in London today, yesterday] The thinking behind Universal Credit is well-intentioned: to simplify our complex tax credits system, while incentivising people to take up work. But its execution is doomed to fail, not because of bungling at the Department for Work and Pensions, but because it aims to have [...]
CNBC Comment: Caution reigns over Fed taper decision October 28, 2013 WITH Christmas just around the corner (according to one retail analyst, seasonal merchandise has been on the shelves since early August – a new record), markets are now focusing on the final quarter of the year. The Federal Open Market Committee’s meeting tomorrow will be closely watched for hints about how far away the Fed’s [...]
DailyFX: Analyst picks October 28, 2013 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Short dollar-yen, long Aussie-yen Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few weeks Yen crosses have been volatile this past week, and both my long Australian dollar-yen and short dollar-yen have seen an uptick in volatility – in the wrong direction [...]
