Dirhams & Dollars

The ongoing Brexit drama took yet another bizarre twist this week, as a vote of no confidence was called in Prime Minister Theresa May. She now faces the real prospect of being dethroned and replaced by someone else from within her party. We'll have more details as they become available. On today's episode, we look beyond the vote, and ask: What next for Brexit, and what next for the UK? Whoever is in charge of the country, they have a matter of only months to finalise the plan for Brexit, as the UK edges close to the abyss. We argue about the economic forecasts, what got us to this point in the first place, and what can be done to heal the wounds of the past two years.

After a brief respite on Monday, Wall Street shares dived on Tuesday once again on fears of slowing growth and a trade war truce that was hanging in the balance. It’s been a rollercoaster week for global markets, with key events punctuating the steady climb that most investors have enjoyed for several years now. Chief among those is the fragile pact that President Trump and President Xi agreed in Argentina last weekend on the sidelines of the G20 conference. That truce looked to be under threat as neither the US nor China would confirm the details of the deal, although as of Wednesday afternoon it looks to be gathering some momentum. Unfortunately, that wasn’t the story of Tuesday, when the three major US indexes dropped 3 per cent in one of their worst days in weeks. This was fueled in part also by growing concerns over global economic outlook, with analysts pointing to a flattening yield curve as evidence that confidence in the US economy is beginning to wane. In today’s episode, we discuss all this

Disclaimer: This episode contains lots of arguing and gloating, so turn your volume down. What’s there to argue about in the business world, you ask? Only Bitcoin, and the mayhem it has brought the finance world. A year after we recorded an episode during the cryptocurrency bubble, we take a look back at our predictions and see who got their price forecasts right. (Hint: one of us nailed it, while the other two were miles off.) We also discuss the rollercoaster ride that is Bitcoin prices, which fell from $20,000 last year to below $4,000 recently. We guesstimate where prices are headed now and what fueled the plunge in prices. Are there really solid fundamentals for cryptocurrencies, as Sarah argues? Or is our resident Grinch right when they say cryptocurrencies are only as valuable as you make them out to be?

And why does every holiday need to be commercialised? Last weekend, Dubai’s malls went head-to-head with websites like Noon and Souq to compete for a share of your hard-earned cash. On this week’s episode, we examine why people love a sale so much, and what leads companies to try and make money from every holiday possible (think Halloween, Valentine’s Day, Christmas, Eid, etc.) Consumer behaviours are changing, and less people are fighting with crowds in stores for a discount TV. More and more people are opting to shop sales digitally, from the comfort of their homes. But not everyone is sold on the e-commerce revolution. We talk to two people who aren’t interested in online shopping (and one who isn’t particularly interested in shopping at all), to find out what makes them spend, and the changing ways people are choosing to hit the sales.

US politics are spilling over into global markets a wee bit more than usual this week. First, the loss of the House of Representatives to the Democrats in last week’s US election and the impending gridlock it is expected to have on Washington seems to have markets more than a little on edge. All it took to start a selloff was Apple’s announcement that the sales of iPhones failed to show any growth in the previous quarter. It wasn’t long after that the entire tech sector, and then US markets, were getting hit hard. But if stock markets are getting it bad, then oil markets are even worse. After the US sanctions on Iran failed to have the desired effect thanks to some last minute exemptions, the oil market is now facing a glut. Prices have fallen almost $19 a barrel since September. What’s going on? Sarah, Ed and I hash it out, trying to figure out a reason - and then arguing about it.

As predicted by the majority of the statistical models, Democrats won the House of Representatives in the US midterm elections, while the Republicans retained a majority in the Senate. With Trump’s wings clipped, what does this mean for the US? On today’s podcast, we discuss what a split Congress will mean for Trump’s attempts to push through legislation over the next two years. Will an emboldened Democratic Party lead to probes, bickering, and deadlock? And if so, what impact will this have on the country’s economic outlook, and the market’s performance? We also talk more broadly about the impact of the election on the markets and the dollar, and the outlook for America’s trade posturing going forward.

Cold winds are blowing, and sanctions are indeed coming. Again. The US will reimpose sanctions on Iran from November 5 after accusing it of regional destabilisation and inflammatory military provocations. That means Iran will technically not be allowed to sell its oil to any outside countries, although the US has already announced eight exceptions, thought to include India and South Korea among their ranks. We discuss the potential impact of sanctions and look at what might happen in the global oil market after Monday. Meanwhile, the US is set to go to the polls on Tuesday night to vote in a crucial midterm election that has been called by many a "referendum on Trump's presidency." What does it mean for the markets? Will they bounce back as they usually do following a midterm election, or will the October slump continue in to November? We chat about what to expect, and whether or not to be worried.

Is austerity really over in the UK with the new budget? by Gulf News

What is going on with the markets? Are disappointing results by the big tech firms to blame? Or are underlying trade tensions weighing on stocks? Away from markets, this week sees presidential elections in Brazil, more companies reporting third quarter results, and decisions from the Bank of Japan and the Bank of England. We also discuss the US jobs report, expected on Friday, and how political tensions leading up to the midterm elections 6 could roil markets further.

Has your grandmother pivoted to streaming? No? Well, she's in the minority. Seemingly every major tech firm has, in recent years, decided to get involved in video streaming in one way or another. What does this mean for the consumer? And in particular, the Middle Eastern consumer? We debate whether or not an international giant such as Netflix is liable to swoop in and start producing high quality Arabic television for the native audience here. Or will local players such as OSN and Starz Play beat them to it?

It’s earnings season, baby! Which is to say it’s a busy week during which we’ll mostly be reading financial statements as listed companies start reporting their results for the third quarter of 2018. We discuss the (few) earnings that have been released already, and which companies we’re keeping our eyes on. We also discuss the recent volatility in stocks and what we’re expecting in financial markets going forward.

This year’s GITEX technology week highlights the good, the bad and the “still in development.” It’s another year and another Gitex. On this episode, we talk about some of the technology we’ve seen at this year’s show. Some of the most interesting pieces of technology were the bits that are still very much still in development, such as machines that can read brain waves or a brand new internet, as suggested by the guy who invented the first one, Sir Tim Berners-Lee. We also talk about some of the most hyped technology at the show, including augmented/virtual reality, artificial intelligence, and blockchain. Is it as big and important as everyone is being lead to believe, or is it just hype?

Gitex Technology Week kicked off on Sunday amid a flurry of official visits, gadget unveilings, and keynote presentations. We wrapped up day one of the show, while looking ahead to the coming week, and what visitors can expect out of the next four days of Gitex. Away from the technology, we also keep an eye on falling markets, with Saudi Arabia’s bourse taking a big knock on Sunday as a result of increasing diplomatic tensions with the US. We also talk about emerging currencies and the rupee in particular, which has made a slight recovery in recent days. Last, but certainly not least, it’s earnings week, so we can expect a flood of bank results this week, with potentially a few of the US technology giants like Facebook thrown in for good measure. Hold on to your hats, it’s going to be a busy week…

It has not been a good year for emerging markets or their currencies, but the drama this week is concerning. It started with the Indian Rupee continuing its daily march to new record lows and by Tuesday was witnessing the Pakistani Rupee’s stellar dive, thanks to the announcement of another IMF bailout. It makes you wonder: what’s going on? The answer short answer is: problems with current account balance deficits. Since that’s an answer that leaves a lot to be desired, Ed and Scott dive deeper into the economics behind these problems. They discuss whether the situation is as bad as everyone seems to be suggesting, and what, if anything, can be done about it.

It’s a great week to be a finance geek! For starters, finance ministers and central bankers from G20 countries will meet this week at a conference in Bali where they are expected to discuss everything economics, monetary policies, and trade. And if that’s not enough to get your finance engines running, we also discuss the Indian rupee, which has been hitting one low after the other. Elsewhere in messy business, Brexit. Prime Minister Theresa May appears to have gained popularity following her speech (and dance!) at the Conservative Party Conference. We discuss what happens next in Brexit talks, and whether May’s moves actually amounted to much.

Finally, after a long summer, things appear to be kicking back in to gear. Dubai is set to host two of its best-known events this week, with the return of Cityscape Global and GITEX Shopper. The latter is expected to see crowds flock to the Dubai World Trade Centre in search of a bargain on gadgets and larger electronics, such as televisions and laptops. Cityscape, meanwhile, will bring together the country’s property developers, real estate agents, and government officials, in honour of one of Dubai’s most important industries. The likes of Damac and RAK Properties are expected to unveil large projects, with participants such as Nakheel, Emaar, and Azizi also likely to play a big role in the event, often seen as a barometer of the property market’s health. Globally, Brazil is set to go to the polls this week in a general election that will decide a new president and vice president, while back in the UK, the Conservative party will meet for its annual conference, with a number of major Brexit announceme

The gig, or sharing economy, was originally envisaged as a way to provide people with a way to make money via the internet. But beyond people renting spare bedrooms, or selling handmade jewellery and surplus spaces in their cars on long journeys, many see the giants of the industry, such as Uber and Deliveroo, as having a dark side. We discuss what happens next for the deluge of start-ups offering such services, and we look at the trend of consolidation, with Uber reported to be considering acquiring both Deliveroo and regional local rival Careem.

Dubai: On today’s episode, we look ahead at the week to come. A critical five days in the Brexit process, British Prime Minister Theresa May is currently battling dissent from European leaders, and from the opposition party at home. Labour party leader Jeremy Corbyn has promised that he will respect his party’s decision if they decide to back a second referendum on the UK’s membership of the European Union, representing yet another blow to May’s plans. With all of this confusion, the pound sterling is dropping to new lows, driven down by talk of a “no-deal Brexit” from the Prime Minister, which would see the UK crash out of the EU next March with no arrangements in place, potentially causing chaos. On the other side of the pond, the US Fed is due to meet this week, where they are expected to raise interest rates. Locally, it’s another quiet week in Dubai, although with some major events lurking round the corner, it is unlikely to stay quiet for long…

APPLE ALERT: Stop everything, because we have our hands on the yet-to-be-released iPhone XS Max and the latest Apple Watch!! Huzzah! We fiddle around on-air with some of Apple’s latest products, which will be hitting the UAE’s stores on Friday (September 21) and give you our verdict. We talk everything iPhone XS Max including the latest iOS12, the improved camera, e-SIM feature, animojis, and more. Our resident Apple fanboy, Scott Shuey, tells you what his favourite feature is and why, while Ed and Sarah tell you why they may/may not be tempted to buy this phone. We also dissect the latest Apple Watch, and discuss the new health features it offers, and where it may lag behind. Tune in to hear more!

Hurrah! The world just got a new iPhone! A new series of iPhones, actually, which seems to always be a cause for celebration (and queues) for Apple fans all around the world. The new iPhones arrive to the UAE on Friday, so we talk about some of their new features, including the illusive e-SIM cards, which replace physical SIM cards. Tech aside, the other big news in the business world is still the decline in emerging market currencies. All eyes will still be on currencies for any respite after both the Turkish and Russian central banks hike rates.