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Bitcoin futures suggest breakneck rise in price to slow

Bitcoin futures suggest breakneck rise in price to slow

NEW YORK/LONDON: Newly launched bitcoin futures on Monday suggested that traders expect the cryptocurrency’s blistering price gains to slow in the coming months, even as it blasted above US$17,000 to a fresh record high in the spot market. Chicago-based derivatives exchange Cboe Global Markets launched the futures late on Sunday, marking the first time investors […]

December 11, 2017 | By | Reply More
Apple confirms deal to buy music discovery app Shazam

Apple confirms deal to buy music discovery app Shazam

SAN FRANSICO: Apple Inc on Monday confirmed it had reached a deal to acquire Shazam Entertainment Ltd, the UK-based app that lets users identify songs by pointing a smart phone at the audio source. Apple did not give a price for the acquisition. Technology news website TechCrunch reported the deal on Friday with a price […]

December 11, 2017 | By | Reply More
UBS leads blockchain data reporting pilot ahead of new EU rules

UBS leads blockchain data reporting pilot ahead of new EU rules

ZURICH/NEW YORK: Financial companies led by Swiss bank UBS are testing a blockchain platform to help them comply with new European Union trade data standards due to come into force next year. Blockchain, the technology underpinning cryptocurrencies such as bitcoin, is a shared and immutable database maintained by a network of computers on the internet. […]

December 11, 2017 | By | Reply More
Bitcoin tops US$18,000 in debut on major bourse

Bitcoin tops US$18,000 in debut on major bourse

NEW YORK: Bitcoin surged past US$18,000 after it began trading on its first major global exchange Sunday, the latest in a series of highs that have excited some investors while leaving others nervous of a bubble. Trading of the controversial digital currency on a futures contract began at 6:00 pm (2300 GMT) on the Chicago […]

December 11, 2017 | By | Reply More
Bank Simpanan names Yunos Abd Ghani as new chief executive

Bank Simpanan names Yunos Abd Ghani as new chief executive

KUALA LUMPUR: Bank Simpanan Nasional (BSN) has announced Yunos Abd Ghani as its new chief executive for a three-year term, effective Dec 1, 2017. In a statement, the bank said Yunos, who was previously the deputy chief executive (business support) has 30 years of experience in the banking industry, including in international and Islamic banking. […]

December 11, 2017 | By | Reply More
Bitcoin futures surge past US$17,000 on launch day

Bitcoin futures surge past US$17,000 on launch day

SYDNEY: The front-month bitcoin futures contract XBTc1 on the Chicago-based CBOE Futures Exchange surged past US$17,000 on Monday, the first day of trading. The January contract opened at US$15,460 in New York on Sunday evening, before leaping to a high of US$17,170 during Asian hours. They were last quoted at US$17,120, a more than US$1,000 […]

December 11, 2017 | By | Reply More
Oil prices drop on increased US rig drilling

Oil prices drop on increased US rig drilling

SINGAPORE: Oil prices fell on Monday, pulled down as the latest rise in the US rig count pointed to a further increase in American production, potentially undermining efforts led by OPEC to tighten markets. US West Texas Intermediate (WTI) crude futures CLc1 were at US$57.10 a barrel at 0019 GMT, down 25 cents, or 0.4%, […]

December 11, 2017 | By | Reply More
Uber heads to court in fight for London survival

Uber heads to court in fight for London survival

LONDON: Uber will defend its right to operate in London in a court hearing on Monday after the app was deemed unfit to run a taxi service and stripped of its license in its most important European market. Regulator Transport for London (TfL) shocked the Silicon Valley firm by rejecting its license renewal bid in […]

December 11, 2017 | By | Reply More
Bitcoin makes muted stock exchange debut at US$15,000

Bitcoin makes muted stock exchange debut at US$15,000

NEW YORK: Cryptocurrency Bitcoin made its debut on a major bourse Sunday, opening at US$15,000 per unit at the Chicago board options exchange. Around 23:20 GMT, the price of the currency had risen to US$15,940 dollars on a futures contract scheduled for settlement on January 17 according to data provided by the Chicago board options […]

December 11, 2017 | By | Reply More
Dubai 2018 budget foresees US$15.5 billion expenditure ahead of Expo

Dubai 2018 budget foresees US$15.5 billion expenditure ahead of Expo

DUBAI: Dubai on Sunday adopted its 2018 budget foreseing expenditure of 56.6 million dirhams (around US$15.5 billion), a 19.5 % increase over last year, as it prepares to host Expo 2020. But the 2018 budget of Dubai, one of seven emirates in the United Arab Emirates, also forecasts a deficit of US$1.7 billion — the […]

December 10, 2017 | By | Reply More