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Oil Poised for Third Weekly Gain as IEA Sees Need for More Crude - Bloomberg

Oil Poised for Third Weekly Gain as IEA Sees Need for More Crude - Bloomberg PRICES West Texas Intermediate for July delivery rose 12 cents to $70.41 a barrel at 8:53 a.m. in New YorkPrices are up 1.2% this weekBrent for August settlement advanced 7 cents to $72.59, and are 1% higher for the week Oil headed for a third straight weekly gain on signs of improving demand, with the International Energy Agency warning that the market will need extra supply next year.Futures in New York h...
Tags: Travel, Asia, Europe, New York, Opec, Bloomberg, IEA, Latin America, International Energy Agency, Rupert Neil Bumfrey


Oil drops again on doubts over demand rebound | Reuters

Oil drops again on doubts over demand rebound | Reuters Oil prices extended their losses on Tuesday as concerns about the fragile state of the global recovery in demand for crude and fuels were heightened by data showing China’s oil imports fell in May.Brent crude was down 49 cents, or 0.7%, at $71.00 a barrel by 0643 GMT, after declining 0.6% overnight. U.S. oil was off by 44 cents, or 0.6%, at $68.79 a barrel, having dropped by 0.6% in the previous session.“Chinese oil imports at a five-mont...
Tags: Travel, Asia, China, Reuters, Reuters Oil, Rupert Neil Bumfrey, Bob Yawger, Mizhuo Securities China


World’s Top Oil Trader Vitol Sees OPEC+ Controlling Crude Market - Bloomberg

World’s Top Oil Trader Vitol Sees OPEC+ Controlling Crude Market - Bloomberg OPEC+ appears in control of crude prices as U.S. production is lagging pre-pandemic levels, according to a senior executive at the world’s biggest independent oil trader, Vitol Group.The decline in U.S. drilling and output leaves little competition to efforts by the producers’ group to manage markets, Mike Muller, Vitol’s head of Asia, said during an online conference on Sunday. Brent crude closed above $70 a barrel l...
Tags: Travel, Asia, Saudi Arabia, China, Russia, Opec, Iran, Organization of Petroleum Exporting Countries, Müller, Vitol Group, Rupert Neil Bumfrey, Gulf Intelligence, Mike Muller Vitol, Top Oil Trader Vitol, OPEC Controlling Crude Market Bloomberg, OPEC Controlling Crude Market Bloomberg OPEC


Absolute Hotel Services Announces Eastin Estates, The First Hospitality Brand In Asia For Seniors

Jonathan Wigley, CEO of the Absolute Hotel Services (AHS) Group, has announced new expansion plans, with the launch of the Eastin Estates brand, a luxury long-stay residential brand in the assisted living segment. Eastin Estates provides a residential community experience to meet the growing needs of the active senior market, with services and facilities for residents that encourage health and social connections. AHS Group is the first hospitality management company to launch a brand dedi...
Tags: Travel, Asia, Jonathan Wigley, Absolute Hotel Services AHS Group, Eastin Estates


Battle Looms in Key Oil Market as #Iran Aims to Seize Back Sales - Bloomberg

Battle Looms in Key Oil Market as Iran Aims to Seize Back Sales - Bloomberg The likely return of Iranian oil is setting up what promises to be an aggressive battle to supply a corner of the coveted Asian market.Iran is a major producer of condensates -- ultra-light oil that’s a by-product from natural gas fields -- and South Korea is Asia’s biggest operator of splitters designed to turn it into petrochemicals used to make plastics.SK Innovation Co., Hanwha Total Petrochemical Co. and Hyundai O...
Tags: Travel, Asia, South Korea, Europe, Australia, Africa, Qatar, Bloomberg, Iran, Persian Gulf, Rupert Neil Bumfrey, Hyundai Oilbank Co, SK Innovation Co Hanwha Total Petrochemical Co


LNG trade rises to record in 2020 but growth slowed by COVID-19 -IGU | Reuters

LNG trade rises to record in 2020 but growth slowed by COVID-19 -IGU | Reuters Global liquefied natural gas (LNG) trade volumes rose to a record last year led by Asia, though growth was marginal as demand was slammed by coronavirus-induced restrictions, according to a report by the International Gas Union (IGU).Overall LNG trade increased to 356.1 million tonnes last year, up by 1.4 million tonnes or about 0.4% from 2019, mostly driven by increased exports from the United States and Australia,...
Tags: Travel, Asia, South Korea, Europe, Australia, Mexico, China, Russia, India, Qatar, United States, Myanmar, Norway, Nicaragua, Reuters, Reuters Global


Investcorp's move to delist in keeping with its iconic history | The National

Investcorp's move to delist in keeping with its iconic history | The National In London, in the mid to late 1990s, the only Arab financial company that was spoken of with reverence was Investcorp. By then it had been involved in iconic deals for luxury brands such as Tiffany & Co and Gucci, rejuvenating them and then taking them public at enormous profit. It outbid future US President Donald Trump to acquire Tiffany’s in 1984 and netted $1 billion profit from Gucci. Understandably, Iraqi found...
Tags: Travel, Asia, New York, London, US, Davos, Dubai, Switzerland, Silicon Valley, Fifth Avenue, Donald Trump, Bahrain, Gucci, Tom Ford, Gulf, Tiffany


Tourist Numbers Down 83% But Confidence Slowly Rising

Between January and March 2021 destinations around the world welcomed 180 million fewer international arrivals compared to the first quarter of last year. Asia and the Pacific continued to suffer the lowest levels of activity with a 94% drop in international arrivals over the three-month period. Europe recorded the second largest decline with -83%, followed by Africa (-81%), the Middle East (-78%) and the Americas (-71%). This all follows on from the 73% fall in worldwide international to...
Tags: Travel, Asia, Europe, Africa, Pacific, Middle East 78


Mubadala May Part Ways With Rowlands as Partner in Digital Bank - Bloomberg

Mubadala May Part Ways With Rowlands as Partner in Digital Bank - Bloomberg A digital bank backed by Mubadala Investment Co. is looking to replace the British Rowland family as its founding shareholder, embarking on a rebuild the Abu Dhabi sovereign fund blames on the global pandemic.Set up in 2018 in Abu Dhabi’s financial hub by Mubadala and a Rowland-owned entity, the Anglo-Gulf Trade Bank was touted as the world’s first digital trade bank, promising to create an online finance platform that...
Tags: Travel, Asia, Qatar, Bloomberg, Britain, Middle East, United Arab Emirates, Zimbabwe, Abu Dhabi, Andrew, Bloomberg News, Mohammed bin Zayed, Rowland, Rowlands, Rupert Neil Bumfrey, India Saudi Arabia


Brent hits $70, highest since March, on demand prospects | Reuters

Brent hits $70, highest since March, on demand prospects | Reuters Oil prices rose on Tuesday, with Brent topping $70 and trading at its highest since March, as optimism grew over the fuel demand outlook during the summer driving season of the United States, the world's top oil consumer.Prices were also boosted after data from China showed that factory activity expanded at its fastest this year in May.Brent crude futures for August gained 94 cents, or 1.4%, to $70.26 a barrel by 0610 GMT. U.S....
Tags: Travel, Asia, Europe, China, United States, Brent, Reuters, Reuters Oil, Rupert Neil Bumfrey, ING Economics


I went inside the East Coast's largest port and saw how a backlog of goods are moved amid the never-ending chaos of ships, trucks, and trains

Touring the Port of New York and New Jersey. Thomas Pallini/Insider The Port of New York and New Jersey has seen cargo volumes skyrocket during the pandemic. An increase in e-commerce purchases during the pandemic has resulted in a backlog of goods. Larger and larger ships are coming to the East Coast's largest port to help keep goods moving. See more stories on Insider's business page. Welcome to America's front door. Touring the Port of New York and New Jersey. Thomas...
Tags: Travel, Transportation, Asia, New York, News, La, US, America, Trends, Features, Boats, Tennessee, Shipping, New Jersey, Brazil, Marco Polo


Taiwan was named the best place to live for expats. Here's what 7 expats said about living abroad on the tiny East Asian island during the pandemic.

Until a few weeks ago, life in Taiwan during the pandemic has been "like COVID didn't exist," one expat said. Jia Chun Fàn / EyeEm Taiwan was ranked the best place for expats to live in a recent survey from Internations. Insider spoke to seven expats in Taiwan about what it's been like living there, both before and during the pandemic. Expats love the affordable healthcare and "underrated" local activities like eating at night markets and hiking through gorges. See more stories on ...
Tags: Travel, Asia, Hong Kong, Japan, UK, Maryland, China, Germany, Singapore, US, International, Trends, Nike, Taiwan, Thailand, Munich


The 14 best all-inclusive resorts in Mexico, from family-friendly options with massive waterparks to romantic retreats with overwater bungalows

If you buy through our links, we may earn money from affiliate partners. Learn more. Club Med All-inclusives are a great value since food, drinks, and often, activities are part of the price. Mexico is an all-inclusive resort paradise, from romantic adults-only getaways to kid-focused stays. We found the best all-inclusive resorts in Mexico whether you're on a budget or looking to splurge. When it comes to beach vacations, going the all-inclusive route can be a game-changer. There&#...
Tags: Asia, Cdc, Mexico, US, Trends, San Jose, Oceana, Tripadvisor, Maldives, Caribbean, Bordeaux, Cancun, Le Blanc, Andrea, Don, Tulum


#Dubai Property Fund Unswayed by Creditor Dissent in Debt Dispute - Bloomberg

Dubai Property Fund Unswayed by Creditor Dissent in Debt Dispute - Bloomberg Dubai-listed Emirates REIT made no indication it’s willing to compromise with a group of creditors that rejected its proposal to exchange $400 million of sukuk securities for new notes.A dispute with investors escalated on Wednesday after the dissenting certificate-holders said they have the numbers to block the offer and asked for a meeting with the company the following day “to discuss the concerns of the Ad-Hoc Gro...
Tags: Travel, Asia, Bloomberg, United Arab Emirates, Dubai, Clifford Chance, Gulf, Europe North America, Oasis Management Co Ltd, Dubai Financial Services Authority, Rupert Neil Bumfrey, Houlihan Lokey Inc, Ad Hoc Group, Rothschild Co, Bloomberg Dubai, Emirates REIT


Emirates REIT Debt Exchange Offer Rejected by Group of Creditors - Bloomberg

Emirates REIT Debt Exchange Offer Rejected by Group of Creditors - Bloomberg A group of Emirates REIT creditors has rejected a proposal to exchange $400 million of sukuk securities for new notes and said they have the numbers to block it.In a statement on Wednesday, the certificate-holders said their position was communicated to the company and asked for a meeting the following day “to discuss the concerns of the Ad-Hoc Group and its requirements for the restructuring process.” Rothschild & Co...
Tags: Travel, Asia, Bloomberg, United Arab Emirates, Dubai, Clifford Chance, Gulf, Europe North America, Oasis Management Co Ltd, Dubai Financial Services Authority, Rupert Neil Bumfrey, Houlihan Lokey Inc, Ad Hoc Group, Rothschild Co, Group of Creditors Bloomberg, Nasdaq Dubai It


To Shanghai

I’m moving to Shanghai. Well that’s something. After six years here in Montreal, we’ve (my wife and I) decided to embark on a new adventure, and one that involves a return to Asia. It’s not a return to Japan, that I think many would have expected, but rather a return to China, which is how I started my Asia adventure in the first place. May has turned out to be a defining month in my life — on top of the fact that it’s my birth month. It was in May 1997 that I first went to China, to the c...
Tags: Travel, Asia, Japan, China, Personal, Shanghai, Tokyo, Ubisoft, Montreal, Tianjin, Nankai University, Eidos Montreal, Ubisoft Montreal, Ubisoft Shanghai, Eidos Square Enix


#Dubai Investment Firm FIM Partners Said to Consider Raising SPAC - Bloomberg

Dubai Investment Firm FIM Partners Said to Consider Raising SPAC - Bloomberg FIM Partners, the frontier and emerging markets asset manager backed by EFG Hermes, is considering listing a special purpose acquisition company in the U.S., people familiar with the matter said.The Dubai-based investment firm could seek about $250 million for the blank-check company, the people said, asking not to be identified because the information is private. JPMorgan Chase & Co. is advising on the potential deal...
Tags: Travel, Asia, Europe, Bloomberg, Dubai, Merrill Lynch, Jpmorgan, SPAC, Blank, JPMorgan Chase Co, United Arab Emirates Saudi Arabia, EFG Hermes, Rupert Neil Bumfrey, Duet Group, Hedi Ben Mlouka, Fim Partners


UPDATE 2-Australia's Zip snaps up 'buy now, pay later' firms in Europe, Middle East | Reuters

UPDATE 2-Australia's Zip snaps up 'buy now, pay later' firms in Europe, Middle East | Reuters Australia’s Zip Co Ltd said on Monday it fully acquired a buy-now-pay-later (BNPL) company each in Europe and the Middle East for a total of A$160 million ($123.65 million) as it looks to expand its global presence in a rapidly growing industry.The deals come about five months after Australia’s No.2 BNPL player raised money to buy stakes in Czech Republic-based Twisto and the United Arab Emirates-base...
Tags: Travel, Asia, Europe, Australia, Saudi Arabia, Czech Republic, Canada, Britain, Middle East, United Arab Emirates, Uae, Reuters, Europe Middle East, RBC Capital Markets, Rupert Neil Bumfrey, Afterpay


The largest container ship to ever visit the East Coast just arrived at the Port of New York and New Jersey: Meet the Marco Polo

The CMA CGM Marco Polo arriving at the Port of New York and New Jersey. Port Authority of New York and New Jersey The CMA CGM Marco Polo is the largest container ship to visit the US East Coast. It can carry a total of 16,022 containers that ship goods such as furniture, foodstuffs, and clothing. Its arrival was possible due to a $1.7 billion project to raise the roadway of the Bayonne Bridge. See more stories on Insider's business page. A new record was just set at the Port of New...
Tags: Travel, Transportation, Asia, New York, News, China, US, America, Los Angeles, Trends, Georgia, Chicago, Canada, Boats, Shipping, New Jersey


Meliá Hotels International Shows Its Confidence In Recovery At FITUR And Extends Its Growth In 2021

Meliá Hotels International has kept its traditional appointment with Fitur, in a special edition of the travel trade fair this year which is still affected by the impact of the pandemic. The company's presence is a sign of its confidence in the future and capacity to recover and emerge even stronger from the crisis. The leading hotel company in Spain has already begun to reopen its larger resort hotels, which along with the reactivation of its growth is seen as a clear sign of recovery. A...
Tags: Travel, Asia, Spain, Mediterranean, Meliá Hotels International, FITUR


Top LNG Exporter #Qatar Undercuts Rivals to Keep Dominating Market - Bloomberg

Top LNG Exporter Qatar Undercuts Rivals to Keep Dominating Market - Bloomberg The world’s top exporter of liquefied natural gas is ramping up production dramatically and undercutting competitors in a bid to squeeze them out of the market.Qatar is dropping prices and pushing ahead with a $29 billion project to boost its exports of the fuel by more than 50%, stymieing the prospects of new plants elsewhere. It’s also established a trading team to compete in the nascent spot market and pushing int...
Tags: Travel, Asia, Europe, Texas, Australia, China, Russia, Africa, Qatar, Iran, Beijing, Pakistan, Louisiana, Sinopec, Thomas, Citigroup Inc


Oil prices dive $2 on fears of Asian pandemic, possible U.S. rate hikes | Reuters

Oil prices dive $2 on fears of Asian pandemic, possible U.S. rate hikes | Reuters Oil prices dropped over $2 a barrel on Wednesday to their lowest in three weeks, on worries that surging COVID-19 cases in Asia would dent demand for crude and that U.S. inflation fears could prompt the Federal Reserve to slow economic growth with interest rate hikes.Traders also cited rumors that the Iran nuclear talks were making progress, which could boost global crude supplies and depress prices. read moreBre...
Tags: Travel, Asia, Iran, Thailand, Federal Reserve, Reuters, Reuters Oil, Rupert Neil Bumfrey, India Taiwan Vietnam


MIDEAST STOCKS Most major Gulf markets track lower oil prices; #Dubai gains | Reuters

MIDEAST STOCKS Most major Gulf markets track lower oil prices; Dubai gains | Reuters Major Gulf markets ended lower on Wednesday, mirroring weak oil prices, while Dubai extended gains from the previous session following an upbeat assessment of its property shares by Morgan Stanley.Brent crude futures fell $1.4, or 2% to $67.31 a barrel at 1215 GMT, on renewed demand concerns as coronavirus cases in Asia rise and on fears rising inflation might lead the U.S. Federal Reserve to raise inter...
Tags: Travel, Asia, Saudi Arabia, Qatar, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, U S Federal Reserve, Gulf Arab, Emaar, Tasi, Rupert Neil Bumfrey, Morgan Stanley MS N, Al Rajhi Bank


Oil Market Gets a Boost as Top Asian Refiners Scoop Up Cargoes - Bloomberg

Oil Market Gets a Boost as Top Asian Refiners Scoop Up Cargoes - Bloomberg A wave of strong oil buying by processors in China and Japan -- underpinned by one mega-refiner’s massive spree -- has lifted spot premiums in Asia’s physical market, adding to signs of rising global demand.Spot premiums for crude grades favored by Chinese and Japanese refiners, such as Russia’s ESPO and Qatar’s Al-Shaheen, have surged to multi-month highs, according to traders who asked not to be identified. Dubai crud...
Tags: Travel, Asia, Europe, Japan, China, Iraq, Russia, India, Qatar, Bloomberg, Thailand, Dubai, Indian Oil Corp, Espo, Rupert Neil Bumfrey, Al Shaheen


QIA Is Said to Mull Injecting HSBC Headquarters Into REIT - Bloomberg

QIA Is Said to Mull Injecting HSBC Headquarters Into REIT - Bloomberg Qatar Investment Authority is in talks to inject HSBC Holdings Plc’s London headquarters building into a planned property trust being listed by City Developments Ltd., people with knowledge of the matter said.The potential deal would boost the value of the real estate investment trust portfolio to 1.8 billion pounds ($2.6 billion) from 600 million pounds, said the people, who asked not to be identified as the information is ...
Tags: Travel, Asia, South Korea, Europe, London, Ipo, Singapore, Canary Wharf, Qatar, Hsbc, North America, Gulf, Bloomberg TV, HSBC Holdings Plc, DBS Group Holdings Ltd, Rupert Neil Bumfrey


Oil hits $70, two-month high, as Europe, U.S. reopen economies | Reuters

Oil hits $70, two-month high, as Europe, U.S. reopen economies | Reuters Oil rose on Tuesday to hit $70 a barrel for the first time since March, as expectations of demand recovery following reopenings of the European and U.S. economies offset concern over spreading coronavirus cases in Asia.The British economy reopened on Monday, and Europe is starting to reopen cities and beaches. New cases in the United States continued to fall and New York lifted the mask requirement for vaccinated people.B...
Tags: Travel, Asia, Europe, New York, United States, Reuters, Reuters Oil, Rupert Neil Bumfrey, Tamas Varga


MIDEAST STOCKS #Saudi rises in early trade on oil boost; #Qatar flat | Reuters

MIDEAST STOCKS Saudi rises in early trade on oil boost; Qatar flat | Reuters Most major stock markets in the Gulf rose in early trade on Tuesday, with the Saudi index leading gains on rising oil prices, while Qatar traded flat.Oil, a key catalyst for the Gulf's financial markets, extended gains as hopes of a solid recovery in fuel demand following the reopenings of the U.S. and European economies offset concerns over spreading COVID-19 cases in Asia.Brent crude oil futures were up 33 cents, or...
Tags: Travel, Asia, Saudi Arabia, Qatar, Dubai, Abu Dhabi, Sharjah, Sharm El Sheikh, Reuters, Tasi, Air Arabia, Rupert Neil Bumfrey, Al Rajhi Bank, Emirates NBD Bank ENBD, International Holding IHC, Saudi National Bank


Oil prices rise as U.S., Europe reopen economies | Reuters

Oil prices rise as U.S., Europe reopen economies | Reuters Oil prices extended gains on Tuesday as hopes of a solid recovery in fuel demand following the reopenings of the U.S. and European economies offset concerns over spreading COVID-19 cases in Asia.Brent crude oil futures were up 33 cents, or 0.5%, at $69.79 a barrel by 0644 GMT, while West Texas Intermediate (WTI) was up 30 cents, or 0.5%, at $66.57 a barrel.Both contracts rose more than 1% on Monday.“Behind the gain is growing optimism ...
Tags: Travel, Asia, Europe, United States, Reuters, Reuters Oil, West Texas Intermediate WTI, Rupert Neil Bumfrey, U S Europe, Chiyoki Chen, Sunward Trading


Oil climbs 1% on economic recovery hopes despite fresh Asian restrictions | Reuters

Oil climbs 1% on economic recovery hopes despite fresh Asian restrictions | Reuters Oil prices rose more than 1% on Monday, lifted by European economic reopenings and rising U.S. demand after prices fell earlier due to surging coronavirus cases in Asia and underwhelming Chinese manufacturing data.Brent crude ended the session up 75 cents, or 1.1%, at $69.46 a barrel and West Texas Intermediate (WTI) crude settled 90 cents, or 1.4%, higher at $66.27.The British economy reopened, giving 65 milli...
Tags: Travel, Asia, France, Spain, Netherlands, Portugal, Reuters, Reuters Oil, Rupert Neil Bumfrey


Shangri-La Steps Up Hiring In Line With Expansion Plans In Asia And Middle East, Finds GlobalData

Shangri-La International Hotel Management Ltd.’s (Shangri-La) increased hiring activity since March 2021 reflects the company’s expansion plans across Asia and Middle East. The company is enhancing hotels’ performance by identifying new growth opportunities. Hiring increased with over 650 jobs posted in March and April 2021 alone, of which around 20% jobs were for pre-opening teams, finds GlobalData, a leading data and analytics company.
Tags: Travel, Asia, Middle East, GlobalData, Shangri La International Hotel Management Ltd



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