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OPEC+ Can Proceed With Reviving Supply, Two Key Members Say - Bloomberg

OPEC+ Can Proceed With Reviving Supply, Two Key Members Say - Bloomberg OPEC and its allies can likely continue reviving oil production, two key Middle East members said as the group prepares to consider its next supply hike. “The plan is working, we’re gradually increasing and the market is absorbing it,” United Arab Emirates Oil Minister Suhail Al-Mazrouei said Tuesday at the Gastech conference in Dubai. “I don’t see any reason why we should deviate from that.” Mazrouei’s view echoes comment...
Tags: Travel, Saudi Arabia, Russia, Opec, Bloomberg, Middle East, Dubai, Suhail Al Mazrouei, Rupert Neil Bumfrey, Gastech, Mazrouei, Bloomberg OPEC


#Dubai Airports Sees Doubling of Visitors in 2022 as Curbs Ease - Bloomberg video

Dubai Airports Sees Doubling of Visitors in 2022 as Curbs Ease - Bloomberg Dubai’s airports chief says the number of international visitors may more than double next year as the easing of Covid-19 restrictions boosts travel through one of the world’s busiest hubs.“We’re going to see a very sharp up-tick,” Dubai Airports Chief Executive Paul Griffiths said on Bloomberg Television on Tuesday. The lifting of curbs between Dubai and countries such as the U.K., U.S. and Saudi Arabia will have a “...
Tags: Travel, London, Saudi Arabia, Israel, Bloomberg, Britain, Middle East, United Arab Emirates, Dubai, Uae, Gulf, Griffiths, Bloomberg Television, Dubai International Airport, Paul Griffiths, Rupert Neil Bumfrey


OPEC, #Qatar Say Crisis Shows More Investment Needed: Gas Update - Bloomberg

OPEC, Qatar Say Crisis Shows More Investment Needed: Gas Update - Bloomberg Qatar Says Demand for LNG is Huge (11:50am UAE)“There is huge demand and we basically have a set capacity,” Qatar’s energy minister, Saad Al-Kaabi, said. The country is the world’s biggest exporter of liquefied natural gas and is investing billions of dollars to increase production, though the project will take years.“They are queuing up for LNG. We have huge demand from all our customers and unfortunately we can’t ...
Tags: Travel, Asia, Opec, Qatar, Bloomberg, Uae, Rupert Neil Bumfrey, Saad al Kaabi


#Dubai Tycoon Bets $545 Million on Tower to Show Cavalli Is Back - Bloomberg

Dubai Tycoon Bets $545 Million on Tower to Show Cavalli Is Back - Bloomberg The billionaire owner of Italian fashion house Cavalli is planning a lavish new tower in Dubai to showcase the brand’s return after a brush with bankruptcy and nearly two years of sluggish sales during the pandemic.Hussain Sajwani, founder and chairman of Dubai-based Damac Properties, told Bloomberg that he may even double down on the planned $545 million structure by building a similar one in Miami.The property tycoon...
Tags: Travel, Bloomberg, Dubai, Miami, Roberto Cavalli, Cavalli, DAMAC Properties, Rupert Neil Bumfrey, Hussain Sajwani, Sajwani


Algosaibi Family Looks to Rebuild After $7.5 Billion Debt Deal - Bloomberg video

Algosaibi Family Looks to Rebuild After $7.5 Billion Debt Deal - Bloomberg Simon Charlton, Chief Restructuring Officer at Ahmad Hamad Al Gosaibi & Brothers discusses the long-running debt saga surrounding the company. He speaks with Yousef Gamal El-Din and Manus Cranny on “Bloomberg Daybreak: Middle East.” (Source: Bloomberg) [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Bloomberg, Middle East, Rupert Neil Bumfrey, Manus Cranny, Bloomberg Daybreak, Algosaibi, Yousef Gamal El Din, Bloomberg Simon Charlton, Ahmad Hamad Al Gosaibi Brothers


Biggest #Saudi IPO Since Aramco Has Investors Jostling for More - Bloomberg

Biggest Saudi IPO Since Aramco Has Investors Jostling for More - Bloomberg Investment bankers set aside a couple weeks to drum up interest in Saudi Arabia’s first $1 billion initial public offering since Aramco. They only needed hours before they had excess orders. The $1.2 billion IPO by ACWA Power International, set to price later this month, is drawing high interest from investors looking for exposure to businesses seen as key to the kingdom’s plans to diversify its economy away from oi...
Tags: Travel, Saudi Arabia, Ipo, Bloomberg, Riyadh, Aramco, Rupert Neil Bumfrey, Acwa Power International, ACWA, Bloomberg Investment, Naveed Naz, AlJammaz Group


#UAE ‘Hopes’ to Exceed 4% Growth in 2021, Economy Minister Says - Bloomberg

UAE ‘Hopes’ to Exceed 4% Growth in 2021, Economy Minister Says - Bloomberg The United Arab Emirates is hoping to exceed 4% growth in 2021, the country’s economy minister said, a higher rate of growth than previously forecast. Abdulla bin Touq Al Marri, United Arab Emirates’s Economy Minister, speaks with Yousef Gamal El-Din and Manus Cranny on "Bloomberg Daybreak: Middle East." (Source: Bloomberg) [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Bloomberg, United Arab Emirates, Rupert Neil Bumfrey, Abdulla, Bloomberg Daybreak, Yousef Gamal El Din, Touq Al Marri United Arab Emirates


What to make of Stephen Ross betting $1M on mayor’s race

What to make of Stephen Ross betting $1M on mayor’s race Related chairman’s donation triples size of new campaign fund New York News Analysis / Stephen Ross of Related (Getty, Wikipedia Commons) After 12 years of loving Michael Bloomberg and seven despising Bill de Blasio, some titans of real estate are ready to splurge on a pro-business mayoral candidate. But which one? And can real estate’s money make a difference anyway? Don’t count on it. First, the news: Related Companies Chairman St...
Tags: Travel, Amazon, New York, Obama, Bloomberg, Bill De Blasio, City Council, Michael Bloomberg, De Blasio, Ross, Dante, Eric Adams, Industry City, Carlos Menchaca, Shaun Donovan, Stephen Ross


SoftBank Makes First #Saudi Deal Together With Wealth Fund’s Unit - Bloomberg

SoftBank Makes First Saudi Deal Together With Wealth Fund’s Unit - Bloomberg SoftBank Group Corp. has made its first investment in a company based in Saudi Arabia, partnering with a unit of the kingdom’s sovereign wealth fund to lead a $125 million financing for customer communication platform Unifonic.Proceeds will be used to fund growth in the Middle East and expansion into Asia and Africa, Unifonic co-founder and Chief Executive Officer Ahmed Hamdan said in an interview. The company will al...
Tags: Travel, Asia, Saudi Arabia, Softbank, Bloomberg, Middle East, United Arab Emirates, Dubai, Rupert Neil Bumfrey, Ahmed Hamdan, Bloomberg SoftBank Group Corp, Africa Unifonic, Trendyol SoftBank


Biggest #Saudi IPO Since Aramco Sees ACWA Plan $1.2 Billion Offer - Bloomberg

Biggest Saudi IPO Since Aramco Sees ACWA Plan $1.2 Billion Offer - Bloomberg ACWA Power International, one of Saudi Arabia’s main vehicles for building renewable energy projects, is set to raise up to 4.55 billion riyals ($1.2 billion) in what would be the biggest offering in Riyadh since Saudi Aramco’s listing.The Riyadh-based utility, half-owned by the kingdom’s sovereign wealth fund, has set the price range for its offering between 51 riyals and 56 riyals per share, according to a statement...
Tags: Travel, Saudi Arabia, Bloomberg, Riyadh, Aramco, Saudi Aramco, Rupert Neil Bumfrey, ACWA, Bloomberg ACWA Power International, JPMorgan Citigroup Riyad Capital


#UAE Eyes $1 Trillion Economic Activity With #Israel Over 10 Years - Bloomberg

UAE Eyes $1 Trillion Economic Activity With Israel Over 10 Years - Bloomberg The United Arab Emirates is seeking to grow economic ties with Israel to more than $1 trillion over the next decade, Economy Minister Abdulla Bin Touq said Monday, strengthening a year-old relationship that’s already produced billions of dollars worth of business.Those deals include Mubadala Investment Co.’s $1 billion purchase of Tel Aviv-listed Delek’s stake in an Israeli gas field, Bin Touq told a virtual conferenc...
Tags: Travel, Israel, Tel Aviv, Bloomberg, United Arab Emirates, Uae, Gulf, Delek, Rupert Neil Bumfrey, Mubadala Investment Co, Abdulla Bin Touq, Bin Touq


GII to Buy Health Company as Part of $1 Billion #Saudi Expansion - Bloomberg

GII to Buy Health Company as Part of $1 Billion Saudi Expansion - Bloomberg Gulf Islamic Investments LLC, a financial services firm that oversees nearly $2 billion, is preparing for what could be its biggest deal yet as it looks to grow investments in Saudi Arabia and India and considers a listing in the next three years.GII, as the firm is known, plans to buy a stake in a Saudi health-care company for around $600 million, co-founder Mohammed Alhassan said in an interview, declining to give sp...
Tags: Travel, Saudi Arabia, India, Bloomberg, Alhassan, Rupert Neil Bumfrey, GII, Buy Health Company, Bloomberg Gulf Islamic Investments LLC, Mohammed Alhassan


#Qatar, #Turkey Energy Officials to Visit #UAE as Relations Improve - Bloomberg

Qatar, Turkey Energy Officials to Visit UAE as Relations Improve - Bloomberg Energy officials from Qatar and Turkey are scheduled to attend an event in Dubai amid signs of improving relations with the United Arab Emirates.Qatar’s Energy Minister, Saad Al-Kaabi, will attend the Gastech conference at the Dubai World Trade Centre later this month, according to the company organizing the event. His visit will be the first by a high-level Qatari official to the UAE since relations were repaired, sa...
Tags: Travel, Energy, Qatar, Bloomberg, Turkey, Syria, Dubai, Libya, Doha, Uae, Ankara, United Arab Emirates Qatar, Dubai World Trade Centre, Rupert Neil Bumfrey, Saad al Kaabi, Bloomberg Energy


#UAE’s Brooge Petroleum Takes First Oil at Expanded Storage Site - Bloomberg

UAE’s Brooge Petroleum Takes First Oil at Expanded Storage Site - Bloomberg Brooge Energy Ltd. received its first oil cargo at a newly completed section of the company’s Middle East storage terminal as it expands to meet demand for ship fuel and other products amid growing regional trade.The New York-listed company has fully contracted out the additional storage capacity, which includes tanks for storing clean petroleum products and crude oil, Brooge said in a statement. Brooge didn’t say who ...
Tags: Travel, New York, Bloomberg, Middle East, Abu Dhabi, Uae, Strait Of Hormuz, Red Sea, Persian Gulf, Rupert Neil Bumfrey, Brooge, Brooge Petroleum and Gas Investment Co, United Arab Emirates Fujairah, Brooge Petroleum Takes First Oil, Expanded Storage Site Bloomberg Brooge Energy Ltd, UAE 's Gulf of Oman


Stocks in Mideast Decline on Growth Concerns: Inside EM - Bloomberg

Stocks in Mideast Decline on Growth Concerns: Inside EM - Bloomberg Saudi Arabian stocks led a decline in the Middle Eastern equities markets on Sunday triggered by concern over the strength of U.S. stock markets after the S&P 500 fell for five straight days. The extent of the drop was mitigated by gains in oil prices. MIDDLE EASTERN MARKETS: Tadawul All Share Index ended down 0.66% Traders focused on the IPO of Saudi Telecom Co.’s internet-services unit which closes for institutional inve...
Tags: Travel, Israel, Bloomberg, United Arab Emirates, Oman, Riyadh, Aramex, Perrigo Co, Tnuva, Eastern Co, Dubai Financial Market, Rupert Neil Bumfrey, Shuaa, Alseddiqi, Ahli United Bank, Dar Al Takaful


#SaudiArabia Bans Ministers From Sitting on Company Boards - Bloomberg

Saudi Arabia Bans Ministers From Sitting on Company Boards - Bloomberg Government ministers can’t join or chair the boards of companies, according to an amendment to a Saudi Arabian ministerial decree published Friday in the official gazette Umm al-Qura.“Any minister is not allowed to chair the board of any company or serve as a member,” the government said. “This does not include those whose chairmanship or membership is by order from the prime minister.” Finance minister Mohammed al-Jadaan a...
Tags: Travel, Saudi Arabia, Bloomberg, State, Saudi Arabian Oil Co, Rupert Neil Bumfrey, Bloomberg Government, Mohammed al Jadaan, Al Jadaan, Qura, Saudi Arabian Military Industries, Public Investment Fund Saudi Arabia, Al Assaf, Ibrahim A Al Assaf


#Saudi Aramco Splits Its Gas Business Amid Chemicals Expansion - Bloomberg

Saudi Aramco Splits Its Gas Business Amid Chemicals Expansion - Bloomberg Saudi Arabia’s state-run energy firm is splitting its gas production division in two, as the fuel becomes increasingly important for expanding its chemicals business and amid efforts to position itself for the energy transition.Saudi Arabian Oil Co. will create two new divisions, named Southern Area Gas Operations and Northern Area Gas Operations, according to people familiar with the matter. The departments will be run ...
Tags: Travel, Saudi Arabia, Bloomberg, Aramco, Saudi Arabian Oil Co, Rupert Neil Bumfrey, Bloomberg Saudi Arabia, Southern Area Gas Operations, Northern Area Gas Operations, Wail Al Jaafari, Jumaan Al Zahrani


Adam Neumann looks to sell Gramercy penthouse

For full functionality of this site it is necessary to enable JavaScript. Please Allow Javascript and reload this page. Adam Neumann looks to sell Gramercy penthouse Neumann bought four units at 78 Irving Place for $35M in 2017 New York / Adam Neumann and 78 Irving Place (Credit: Getty Images and StreetEasy) The price could come out to five “We” trademarks. Former WeWork CEO Adam Neumann is looking to sell his triplex penthouse at 78 Irving Place, Bloomberg reported. The former SoftBank dar...
Tags: Travel, New York, Ipo, Softbank, San Francisco, Bloomberg, Getty Images, WeWork, Neumann, Hampton, Greenwich Village, Adam Neumann, Irving Place, Kevin Sun, Rebekah Paltrow Neumann, Wendy Silverstein


Alitalia is dying and being reborn as a new airline called ITA - see the full history of Italy's troubled flag carrier

An Alitalia Airbus A330 airplane is pictured at Leonardo da Vinci-Fiumicino Airport in Rome Reuters Government-owned Alitalia is ceasing operations on October 15 after failing to secure investors, marking the end of its 74-year era. The national carrier will be replaced by Italia Transporto Aereo, a brand new airline independent of Alitalia that will not be responsible for the old carrier's debt to the state. ITA plans to purchase 52 Alitalia aircraft, acquire its slots at Milan Linat...
Tags: Travel, Transportation, Asia, Europe, UK, New York, Milan, Air Travel, Life, Germany, Berlin, Planes, Trends, Bloomberg, European Union, Ukraine


Biggest #AbuDhabi Wealth Fund Expands Foray Into Private Markets - Bloomberg

Biggest Abu Dhabi Wealth Fund Expands Foray Into Private Markets - Bloomberg The Abu Dhabi Investment Authority is giving itself more room to invest in private markets after a record year of dealmaking for its buyout division during the pandemic.The emirate’s biggest sovereign wealth fund, which oversees assets estimated at $686 billion, has raised its target allocation range for private equity and infrastructure, according to its 2020 annual review released on Wednesday. The fund’s priv...
Tags: Travel, Bloomberg, ADIA, Rupert Neil Bumfrey, Abu Dhabi Investment Authority, Hamed bin Zayed al Nahyan


#AbuDhabi Offers Second Dollar Bond for 2021 Amid Low Yields - Bloomberg

Abu Dhabi Offers Second Dollar Bond for 2021 Amid Low Yields - Bloomberg Abu Dhabi is returning to international debt markets for the second time this year with a two-part dollar-denominated offering to take advantage of low borrowing costs.The oil-rich capital of the United Arab Emirates is selling debt maturing in 10 years, with an initial price talk of about 90 basis points over Treasuries of similar maturity, according to a person familiar with the matter. It’s also offering 30-year securi...
Tags: Travel, Bloomberg, Standard Chartered, United Arab Emirates, Federal Reserve, Abu Dhabi, Uae, Jerome Powell, Rupert Neil Bumfrey, Moody 's Investors Service, UAE Abu Dhabi, Bloomberg Abu Dhabi


First #AbuDhabi Is Said to Start Sale of $1 Billion Payments Arm - Bloomberg

First Abu Dhabi Is Said to Start Sale of $1 Billion Payments Arm - Bloomberg First Abu Dhabi Bank PJSC has kicked off the sale of a stake in its payments business Magnati, in a potential deal that could value the unit at about $1 billion, people familiar with the matter said. The banking group is working with Morgan Stanley to reach out to potential investors, according to the people, who asked not to be identified because the information is private. The sale could attract interest from compan...
Tags: Travel, London, Bloomberg, United Arab Emirates, Fab, Morgan Stanley, General Atlantic, Warburg Pincus, Rupert Neil Bumfrey, Emirates NBD Bank PJSC, Network International Holdings Plc, Bloomberg First Abu Dhabi Bank PJSC, Magnati


#Saudi, #UAE Leaders Hold Talks as Regional Competition Heats Up - Bloomberg

Saudi, UAE Leaders Hold Talks as Regional Competition Heats Up - Bloomberg The defacto rulers of Saudi Arabia and the United Arab Emirates held talks late Monday, days after the UAE unveiled plans to deepen trade ties with fast-growing economies mainly outside the Middle East.Saudi Crown Prince Mohammed bin Salman called his Abu Dhabi counterpart Sheikh Mohammed bin Zayed Al Nahyan and discussed “the prospects of further consolidating the strategic cooperation” between the countries, the UAE’s...
Tags: Travel, Asia, Saudi Arabia, Wam, Africa, Bloomberg, Middle East, United Arab Emirates, Dubai, Abu Dhabi, Uae, Mohammed, Riyadh, Mohammed bin Salman, Rupert Neil Bumfrey, Sheikh Mohammed bin Zayed al Nahyan


ADQ Plans to List #AbuDhabi Ports on Local Bourse This Year - Bloomberg

ADQ Plans to List Abu Dhabi Ports on Local Bourse This Year - Bloomberg Sovereign wealth fund ADQ plans to list Abu Dhabi Ports on the emirate’s exchange before the end of the year, the latest in a series of planned share sales on the bourse. The listing on Abu Dhabi Securities Exchange is expected to comprise a sale of a portion of existing shares to investors in the United Arab Emirates, according to a statement on Tuesday. Abu Dhabi is set to list its ports operator a year after neighboring...
Tags: Travel, Bloomberg, United Arab Emirates, Dubai, Abu Dhabi, Uae, Abu Dhabi Securities Exchange, Rupert Neil Bumfrey, Bloomberg Sovereign


ACWA Says Investor Pitch Well Received as It Gears Up for IPO - Bloomberg

ACWA Says Investor Pitch Well Received as It Gears Up for IPO - Bloomberg ACWA Power, one of Saudi Arabia’s main vehicles for building renewable energy projects, said meetings with potential investors ahead of an initial public offering have gone “very well.”The company, half-owned by the kingdom’s sovereign wealth fund, is pushing ahead with an IPO it’s been discussing for years, Chief Executive Officer Paddy Padmanathan said in an interview with Bloomberg TV. Over the next five years, the co...
Tags: Travel, Saudi Arabia, Bloomberg, Bloomberg TV, Rupert Neil Bumfrey, IPO Bloomberg, ACWA, Padmanathan, Paddy Padmanathan, Padamanathan


PIF-Backed Acwa Power Tees up IPO - Bloomberg video

PIF-Backed Acwa Power Tees up IPO - Bloomberg Paddy Padmanathan, ACWA Power, President & CEO discusses the company's IPO, which aims to raise financing for its transformation into a low-carbon energy producer. He speaks with Manus Cranny on "Bloomberg Daybreak: Middle East." (Source: Bloomberg) [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Ipo, Bloomberg, Rupert Neil Bumfrey, Manus Cranny, IPO Bloomberg, Bloomberg Daybreak


BofA's Yazhari: #UAE Diversification More Urgent - Bloomberg video

BofA's Yazhari: UAE Diversification More Urgent - Bloomberg Hootan Yazhari, Bank of America Securities, Head of MENA & Global Frontier Markets Equity Research discusses the UAE government's new announcements on job-creation as Abdulla bin Touq, the United Arab Emirates economy minister, hopes the nation will exceed 4% growth in 2021, a higher rate than previously forecast. Hootan Yazhari speaks with Manus Cranny on "Bloomberg Daybreak: Middle East." (Source: Bloomberg) [Author: [email protected]
Tags: Travel, Bloomberg, United Arab Emirates, Uae, BofA, Rupert Neil Bumfrey, Manus Cranny, Bloomberg Daybreak, Hootan Yazhari, Abdulla Bin Touq, Yazhari


Saudis Cut Oil Prices to Woo Buyers as OPEC+ Boosts Supply - Bloomberg

Saudis Cut Oil Prices to Woo Buyers as OPEC+ Boosts Supply - Bloomberg Saudi Arabia cut oil prices for sales to Asia next month by more than twice the expected amount in a sign the world’s largest crude exporter wants to entice buyers to take more of its barrels.State producer Saudi Aramco is rolling back pricing on all of its grades to its biggest market in Asia. Three successive months of increases in the company’s official selling prices had left refiners smarting as the coronavirus pandemi...
Tags: Travel, Asia, Saudi Arabia, Opec, Bloomberg, Saudi Aramco, Giovanni, Rupert Neil Bumfrey, Bloomberg Saudi Arabia, UBS Group AG Now Aramco


#UAE ‘Hopes’ to Exceed 4% Growth in 2021, Economy Minister Says - Bloomberg

UAE ‘Hopes’ to Exceed 4% Growth in 2021, Economy Minister Says - Bloomberg The United Arab Emirates is hoping to exceed 4% growth in 2021, the country’s economy minister said, a higher rate of growth than previously forecast. The central bank had forecast of 2.5% growth in December. Economic growth contracted around 6% in 2020, according to estimates from the International Monetary Fund. The UAE is looking to create more than 30,000 jobs in the coming year, Abdulla bin Touq told Bloomberg in a...
Tags: Travel, Bloomberg, United Arab Emirates, Rupert Neil Bumfrey, Abdulla Bin Touq, International Monetary Fund The UAE


#UAE to Grow Asia, Africa Trade, Seek $150 Billion Investment - Bloomberg

UAE to Grow Asia, Africa Trade, Seek $150 Billion Investment - Bloomberg The United Arab Emirates plans to deepen its trade ties in fast-growing economies in Asia and Africa, and draw $150 billion in foreign investment from mainly older partners to reposition itself as a global hub for business and finance.The UAE -- which has been the Middle East’s commercial capital for more than a decade and has been facing growing regional competition from Saudi Arabia -- will work on comprehensive economi...
Tags: Travel, Asia, Saudi Arabia, Africa, Israel, Bloomberg, Turkey, Middle East, United Arab Emirates, Recep Tayyip Erdogan, Uae, Gulf, Asia Africa, Britain India, Sheikh Mohammed bin Zayed, Rupert Neil Bumfrey



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