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2020 is the year of sustainability on Arab stock exchanges: AFE’s Secretary General

“The relative weight of Arab stock exchanges in the index is about $1.2trn while Aramco is about $1.9trn” writes Fatma Salah for dailynewssegypt.com. The Arab Federation of Exchanges (AFE) has been working on launching a development strategy to localise financial technology in Arab stock exchanges, and sustainable development, declaring 2020 the year of sustainability in Arab stock exchanges. “Reforming the home from within” is the approach taken by the AFE’s Secretary General since taking over the secretariat last July.The AFE is also seeking to establish a unified Arab code system…

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I didn’t have the cash to exercise my startup stock options. This Silicon Valley fund offered a way to do it without burying me in debt.

“Chou said ESO Fund is ideal for young people working for startups who do not have the resources to exercise stock options” writes Benjamin Pimentel for businessinsider.com. He had left before the company’s IPO. “I didn’t have money to do the early exercise of the stock options,” he said.ESO Fund has helped clients exercise stock options worth as little as $1,500, and has funded much bigger deals worth a few million, Chou said. Source: businessinsider.com

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There are profitless companies far beyond Silicon Valley. One market expert explains how they’re a lethal factor setting the market up for a meltdown.

“If you look at the Russell 2000, about a third of Russell 2000 companies do not make profit.”” writes Christopher Competiello for businessinsider.com. As investors, we like to think that pockets of market turmoil are generally sequestered and free of contagion.His comments on unprofitable companies were echoed recently by billionaire Bond King Jeffrey Gundlach, who warned of “zombie companies” that are still in business solely because of artificially low interest rates. Source: businessinsider.com

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Uber’s co-founder and former CEO Travis Kalanick sold off close to $166 million shares over the past three days, continuing to offload his stake in the ride-sharing giant

“The 43-year-old founder sold a little over 5.8 million shares between December 11th and December 13th, according to an SEC filing” writes Bani Sapra for businessinsider.com. In total, the Uber co-founder seems to have liquidated over $2 billion in Uber stock since early November.Uber co-founder and former CEO Travis Kalanick dumped close to $166 million of company stock over the past three days, continuing a selling streak that began in the first week of November.As of December 13th, the former chief executive holds 21 million shares.Kalanick raised eyebrows by selling…

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200K Users ‘Already in Line’ for Robinhood’s Fractional Stock Trading

“More than 200,000 Robinhood clients have already expressed their intent to use its new fractional stock trading app announced yesterday” writes Helen Partz for cointelegraph.com. Robinhood, a major California-based financial services firm that is known for its zero-fee crypto trading app, has announced its plans to launch fractional stock-trading on Dec. 12.In late October, Twitter CEO Jack Dorsey’s financial services firm Square announced it will offer users the ability to trade fractions of a stock for as little as $1 on its Cash App.Vladimir Tenev, co-founder at Robinhood, said that…

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Is China Prepping Macao as the Financial Alternative to HK?

“The policies that are set to be launched in Macao include the establishment of a yuan-denominated stock exchange, according to a report from Reuters” writes Celeste Skinner for financemagnates.com. Speaking to the news outlet, one Chinese official who requested anonymity said: “The financial industry used to be an idea that we reserved for Hong Kong. Source: financemagnates.com

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Stock market books tepid gains to end the week as market weighs merits of limited China trade-deal

“Underpinning the week’s advance was the easing of fears –at least temporarily–surrounding two of the biggest points of friction for stock-market investors: U.K. elections and trade tensions” writes Mark Decambre for marketwatch.com. The Dow Jones Industrial Average DJIA, +0.01% closed up about 0.01% at 28,135, missing a record close at 28,164, while the S&P 500 index SPX, +0.01% advanced less than 0.01% to 3,169, enough for a fresh all time high.The S&P 500 and the Nasdaq Composite finished the week at records Friday but enthusiasm over an announced China-U.S. partial…

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Broadcom stock declines as wireless chip stance confuses some analysts

“For fiscal 2019, Broadcom reported revenue of $22.6 billion, up from $20.85 billion in fiscal 2018” writes Wallace Witkowski for marketwatch.com. Of the 33 analysts who cover Broadcom, 21 have buy or overweight ratings, while 12 have hold ratings.Of those, 16 analysts hiked price targets to an average $346.21, up from a previous $329.63, according to FactSet data.Initially, analysts surveyed by FactSet had forecast on revenue of $23.9 billion, and on Friday that consensus crept up to $24.74 billion. Source: marketwatch.com

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Costco shares fall 1.9% as analysts view latest quarter as good but not stellar

“Costco Wholesale Corp. shares COST, -1.81% slid 1.9% Friday, as analysts weighing in on the company’s latest quarterly earnings said they were solid but not stellar” writes Ciara Linnane for marketwatch.com. “We would say that COST delivered a strong quarter by most retailers’ measures, but by Costco’s standards was somewhat average,” wrote Instinet analyst Michael Baker, who rates the stock as neutral.”While in no way a negative catalyst with the stock trading at ~34.5x FY20 consensus EPS, we think that the market would want more of a beat to get…

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AT&T to raise quarterly dividend by 2% to 52 cents a share, retire $100 million of stock in Q1

“T, -0.35% said Friday its board has agreed to increase its quarterly dividend by 2% to 52 cents a share” writes Ciara Linnane for marketwatch.com. The company said it has begun retiring shares after entering a $4 billion accelerated share repurchase program and plans to retire about $100 million worth in the first quarter of 2020.The new dividend is payable Feb. 3 to shareholders of record as of Jan. 10. Source: marketwatch.com

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