Baroness Bitcoin of Arabia: Michelle Mone and Douglas Barrowman on their delve into the world of cryptocurrency
Businessam Staff
September 7, 2017
Baroness Michelle Mone, and her billionaire property mogul partner Douglas Barrowman, this morning open the sale of two 40-storey residential towers spanning 2.4m square feet in Dubai. Building a huge complex in the Emirates isn’t itself remarkable – the Middle Eastern playground for the rich is peppered with luxury apartments, largely paid for in state-owned petrodollars over […]
Fed’s Stanley Fischer stepping down on ‘personal reasons’
Businessam StaffSeptember 6, 2017
Stanley Fischer is stepping down as vice chairman of the Federal Reserve, creating another opening at the central bank for President Donald Trump to fill. In a letter to Trump on Wednesday, Fischer cited “personal reasons” and said the resignation will take effect Oct. 13, two days before his 74th birthday. “It has been a […]
World’s second-longest serving central banker out in Oman
Businessam StaffSeptember 6, 2017
Oman’s ruler replaced the head of the central bank after 26 years in the job as the Gulf Arab monarchy struggles to cope with the impact of low oil prices on its economy. Sultan Qaboos, in a decree published by the state-run news agency late on Tuesday, appointed Tahir Bin Salim Al Amri as the […]
Ortega, 81, closes in on Gates to be the world’s richest
Businessam StaffAugust 30, 2017
Spanish retailer Amancio Ortega is the newest challenger to Bill Gates’s position as the richest person in the world. Ortega, 81, founder of Zara parent Inditex S.A. and Europe’s wealthiest person, is $2.2 billion behind the Microsoft Corp. co-founder with a net worth of $83.3 billion, according to the Bloomberg Billionaires Index. Amazon.com Inc. founder Jeff Bezos, 53, who […]
Samsung’s next chief hides in plain sight
Businessam StaffAugust 25, 2017
By Tim Culpan It’s time for Kwon Oh-hyun to step forward. The 64-year-old South Korean has a PhD. in Electrical Engineering, oversees the world’s largest electronic components business, and has a proven track record in growing a company’s top and bottom lines. He also happens to be chairman of Samsung Electronics Co. To […]
Samsung chief Lee jailed for five years over bribery
Businessam StaffAugust 25, 2017
The billionaire head of South Korea’s Samsung Group, Jay Y. Lee, was sentenced to five years in jail for bribery on Friday in a watershed for the country’s decades-long economic order dominated by powerful, family-run conglomerates. After a six-month trial over a scandal that brought down the then president, Park Geun-hye, a court ruled that […]
UK trade department gets new West Africa director
Businessam StaffAugust 17, 2017
Tochukwu Nwosu (Contributor) The UK Department for International Trade (DIT) in Nigeria and the British Deputy High Commission in Lagos are delighted to welcome the new West Africa Trade Director, Kate Rudd, to spearhead bilateral trade activity in the region. Kate would be based in Nigeria’s financial capital, Lagos, covering UK-Africa trade in the coastal […]
Ian Narev, Commonwealth Bank head to step down amid money laundering claims
Businessam StaffAugust 14, 2017
Ian Narev, Chief Executive of Australia’s Commonwealth Bank will step down by the middle of next year, the firm has said. The Bank’s head will retire after six years at the helm of Australia’s biggest mortgage lender, after pressure from regulators over 53,700 alleged breaches of anti-money laundering laws. The board said it brought forward details […]
Mitchell Ng’s Thessalus Capital targets healthy returns
Businessam StaffAugust 13, 2017
Investing in healthcare ventures and stocks remains one of the most lucrative and popular money streams on Wall Street. Fund managers deem it to be bankable and insulated from the macroeconomic volatility we have become so accustomed to in recent years. It is hardly surprising that those managing the most successful healthcare funds possess specialist […]
Bezos falls to no. 3 after sell-off erases $2 billion of his fortune
Businessam StaffAugust 11, 2017
Global tensions sparked a market sell-off Thursday that drained $42.7 billion from the net worth of the world’s 500 richest people and knocked Amazon.com Inc. founder Jeff Bezos from his spot as the world’s second-richest person. The rout in U.S. stocks, the worst since May, lopped $2 billion from Bezos’s fortune, according to the Bloomberg Billionaires Index, as shares […]