Dubai firm to offer diamond trading using blockchain
The private office of Sheikh Ahmed Bin Obaid Al Maktoum, a member of the ruling family of Dubai, has teamed up with Indian entrepreneur and property developer Amit Lakhanpal, to launch a joint venture which will offer diamond trading using Blockchain technology.
‘Safe sectors’ no longer safe, warns Pictet AM
Investors should stay away from what they perceive as “safe sectors”, such as consumer staples and telecommunications, as they have accumulated more debt, according to Shaniel Ramjee, London-based senior investment manager for multi-asset at Pictet Asset Management.
Gold sales soar after first rate hike in a generation
Sales of gold to first-time buyers soared 64% last week after the Bank of England’s base rate hike, The Pure Gold Company said.
Rio Tinto hit with record FCA fine and US fraud charges
Rio Tinto has been hit with a record FCA fine and fraud charges in the US after allegedly inflating the price of coal it acquired in Mozambique in 2011.
Investors rush to gold following rising North Korea tensions
The stand-off between US president Donald Trump and North Korea has led to a spike in gold and silver prices, with financial markets adopting a safety first attitude in the immediate aftermath of escalating tensions.
Benchmark huggers? Not in Luxembourg, claims regulator
There are no benchmark huggers in Europe’s biggest fund centre, Luxembourg’s financial regulator CSSF has claimed, “except one isolated case.”
Ashburton’s Robinson sees supply tightening in oil market
Massive cuts in oil industry capital expenditure has set the stage for a drop in inventories over coming months, leading to upward price pressure in 2018, says Richard Robinson, investment manager, Ashburton Investments.