Just as enthusiasm over artificial intelligence and China’s stimulus fades, a familiar weakness has come back to haunt equity investors in emerging markets: sinking corporate profits. With 96% of companies in the MSCI Emerging Markets Index done with their quarterly results, the earnings season is almost over. And the picture isn’t pretty — Almost half … Read more
Logo of Aramco, officially the Saudi Arabian Oil Group, Saudi petroleum and natural gas company, seen on the second day of the 24th World Petroleum Congress at the Big 4 Building at Stampede Park, on September 18, 2023, in Calgary, Canada. Artur Widak | Nurphoto | Getty Images Saudi state oil giant Aramco commenced its … Read more
A worker lifts a gold bullion bar from a conveyor machine at the Rand Refinery plant in Germiston, South Africa, on Aug. 16. 2017. Waldo Swiegers | Bloomberg | Getty Images DUBAI, United Arab Emirates — Each year, as much as $35 billion worth of gold produced by artisanal and small-scale mining in Africa — … Read more
Emerging markets such as India and Indonesia, whose populations are growing at a solid pace, stand to benefit as demographics begin to play a bigger role in investment decisions, according to Fidelity International and BlackRock Investment Institute. The investors are focusing on the two nations in emerging Asia, thanks in part to an expected boom … Read more
Golden Horn and Bosphorus at sunset, Istanbul, Turkey Matteo Colombo | Digitalvision | Getty Images Investors who ran from Turkey in droves over the last several years may want to start heading back, the latest report from Citi on the country’s nascent signals. After more than half a decade of dramatically depreciating currency, burning through … Read more
An Emirates Airlines plane Karim Sahib | AFP | Getty Images DUBAI, United Arab Emirates — Dubai-based carrier Emirates airline on Monday reported record annual profit of 17.2 billion dirhams ($4.7 billion) for the 2023-2024 financial year, up 63% from the year prior. The flag carrying airline of the UAE’s glitzy commercial capital has enjoyed … Read more
Saudi Aramco’s first-quarter net profit fell 14% year-on-year amid lower oil prices and production. Net income for the three months up to March 31 came in at $27.3 billion, down from $31.9 billion for the same period last year, the company reported. The figure was in line with analyst expectations, according to Reuters. Aramco announced … Read more
A Turkish national flag, left, and a flag bearing the portrait of Kemal Ataturk, founder of the modern Turkish republic, hang from the exterior of a building in the Sisli district of Istanbul, Turkey, on Monday, Aug. 29, 2022. Bloomberg | Bloomberg | Getty Images Turkey’s inflation accelerated to 69.8% annually for the month of … Read more
A general view of the city skyline at sunset from Dhow Harbour on February 5, 2015 in Abu Dhabi, United Arab Emirates. Dan Kitwood | Getty Images DUBAI — Abu Dhabi artificial intelligence firm Presight bought a 51% stake in AIQ, a joint technology venture between the Abu Dhabi National Oil Company (ADNOC) and G42, … Read more
The BlackRock logo is displayed at the company’s headquarters in New York City on Nov. 14, 2022. Leonardo Munoz | Getty Images Asset manager BlackRock will launch an investment platform in Riyadh with the help of a $5 billion anchor investment from Saudi Arabia’s Public Investment Fund (PIF), the kingdom’s sovereign wealth fund. The announcement … Read more
