Market Gawk

After the stock market’s plunge, investors are betting that the Fed could cut rates as early as August. Don’t count on it

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BusinessWeek’s Gene Marcial talks to long-term players about the market pullback—and finds out what they’ve been buying

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Mutual fund giant T. Rowe Price has opened a Boca Raton office - its first in South Florida and just its 14th nationally for individual investors.

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Abu Dhabi National Hotels has posted a profit of $71.3m for H1, a 100% increase over the $35.8m earned during the corresponding period in 2006. Khalifa Nasser bin Huwaileel Al Mansoori, ADNH’s Chairman, attributed the increase in earnings to the group's improved performance across the main sectors of the hospitality industry, such as hotels, catering and transportation which posted growth of 38%, 10% and 72% respectively.

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Tamweel has recorded a net profit of $29.4m for H1, up 118% on the $13.5m accrued over the same period in 2006. Islamic financing and investing assets in the first half of the year reached $945m, an increase of 65% when compared to the total of $574.6m at the same point in 2006.

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Tabarak Partners has been granted a licence to operate in the Dubai International Financial Centre and will provide shariah compliant structuring, advisory and the distribution of investment products. Prior to authorisation by the Dubai Financial Services Authority, Tabarak structured a number of Islamic funds belonging to various asset classes, including trade finance, private equity and real estate.

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Protiviti, a provider of independent risk consulting and internal audit services, has revealed that Protiviti Member Firm - Middle East will be establishing operations at the Dubai International Financial Centre. Acting as the exclusive agent for the UAE, Protiviti will help clients manage financial, operational and technology-related risks encountered in their industries and assist in the implementation of the processes and controls to enable their continued monitoring.

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BOSTON (MarketWatch) — The experts said ”Don’t worry, even though we’re a bit concerned with history.” It could have been an investment pro talking about how to act in the current, nerve-jangling market, but in my case it was my doctors, suggesting that I take a stress test.

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WASHINGTON (MarketWatch) — Economic data, including a healthy labor market in July, may calm some market jitters about slowing growth in the second half of the year, economists said Friday.

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Kuwait's annual consumer price inflation rose from just under 5.2% in March to nearly 5.4% in April, according to government data cited by Reuters. The spike has been fuelled by the increased cost of food, clothing, housing and transport. To cool inflation, Kuwait has dropped its peg to the weak US dollar and has let its dinar appreciate against the greenback by 2.4% since late May.

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