Gloria Blog

Oil prices rose in early trading on Friday after plunging on Thursday due to mounting concerns about a global recession and an expected increase in interest rates set for next week. Brent, the benchmark for two thirds of the world’s oil, was trading 0.41 per cent higher at $91.21 a barrel at 8.47am UAE time while West Texas Intermediate, the gauge that tracks US crude, was up 0.27 per cent at $85.33 a barrel. Both benchmarks fell more than 3 per cent on Thursday after the US Department of Energy said plans to restock the nation’s emergency supply did not include a trigger price, which is any oil price below which the administration will start to buy crude. The department said that transactions were not likely to happen until after the 2023 fiscal year. Oil prices are down about 20 per cent since early June and set to post a third consecutive weekly loss, due to a strong US dollar and as markets await an interest-rate increase from the US Federal Reserve after the latest data showed hea...

The National Central Cooling Company, better known as Tabreed, is bullish about growth in India and is looking at acquisitions and greenfield projects to expand in Asia’s third largest economy. Last year, Tabreed formed a new holding company with the World Bank’s International Finance Corporation (IFC) to invest up to $400 million in the next five years to expand in India. As part of the agreement, Tabreed India, currently a wholly owned unit of Tabreed, will be transferred to a new holding company established in Singapore, in which Tabreed will hold a 75 per cent stake and IFC 25 per cent. The partners are targeting a portfolio of more than 100,000 refrigeration tonnes of cooling capacity by 2026 as they aim to serve industrial, commercial and retail developments in the country. India, the world's second most populous country, is “a huge market that potential is beyond what we expected in initial stages”, Khalid Al Marzooqi, chief executive of Tabreed, told The National in an int...

The Microsoft browser was first released in 1995 during an era of dial-up modems and well before the launch of smartphones and iPads. It was offered with the technology company’s Windows operating system that came pre-installed in millions of computers. In the early 1990s, its market share was at more than 90 per cent but faster rivals such as Google Chrome and Firefox moved in and gradually took over. In May, Chrome accounted for 65 per cent of the market compared to Safari's 19 per cent and Mozilla Firefox's 3.26 per cent, according to data from Statcounter. Meanwhile, Internet Explorer accounted for only 0.64 per cent, the same percentage as in 2021. Microsoft confirmed last year that Internet Explorer 11 — the latest version — “will be retired and go out of support on June 15, 2022, for certain versions of Windows 10". Read More : https://www.thenationalnews.com/business/technology/2022/06/15/goodbye-internet-explorer-microsoft-retires-the-once-dominant-browser/

A new fractional ownership business centred on fancy coloured diamonds will offer retail investors a rare chance to begin investing in the pricy gemstones. Luxus, founded by hedge fund expert Dana Auslander and fashion journalist Gretchen Gunlocke Fenton, made its debut recently with a first offering of a .54 carat fancy pink diamond. The company aims to give retail investors the chance to buy a sliver of the stone, starting at 0.1 per cent, with the opportunity to participate in a market normally out of reach for those who do not have millions to invest. The idea is that the special diamonds, which have been steadily gaining value, will offer potential returns as investments. But, as with many such fractional ownership enterprises, retail investors will have no access to the stone or influence over how or when it might be resold — and returns realised. Read More : https://www.thenationalnews.com/business/money/2022/06/10/how-to-invest-in-a-fraction-of-a-diamond/

The yen fell to a 24-year low Monday as Japan’s easy monetary policy increasingly stood at odds with developed peers raising rates. The currency fell more than 0.5 per cent to ¥135.19 to the dollar, the lowest since October 1998, as Treasury yields extended Friday’s inflation-shock driven gains. The yen has tumbled about 15 per cent this year — the worst-performing major currency — as the Bank of Japan keeps rates anchored to boost a sluggish economy while US yields surge on bets for continued Federal Reserve rate increases. Friday’s shock US inflation print, which was higher than expected, has heaped pressure on the Fed to intensify monetary tightening, boosting the dollar. Before it hit, senior Japanese officials delivered a ramped-up warning on the yen’s decline, putting their concern in a written statement for the first time as they seek to keep a floor under the currency. Read More : https://www.thenationalnews.com/business/2022/06/13/yen-falls-to-24-year-high-as-policy-gap-slide...