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Deutsche Bank CEO Targets Investment Bank for `Tough' Cuts - Bloomberg

Deutsche Bank CEO Targets Investment Bank for `Tough' Cuts - Bloomberg:Deutsche Bank AG Chief Executive Officer Christian Sewing is targeting the investment bank for “tough cutbacks,” notably in equity trading, in a campaign to restore market confidence following the breakdown of takeover talks with Commerzbank AG.“I can assure you: we are prepared to make tough cutbacks” to the securities unit, Sewing said Thursday at the bank’s annual shareholders’ meeting in Frankfurt. The CEO said he’s “rigo...
Tags: Travel, Bloomberg, Frankfurt, Sewing, Commerzbank AG, Deutsche Bank AG, Rupert Neil Bumfrey, Deutsche Bank CEO Targets Investment Bank


Oil Suffers Worst Day of 2019 as Trade Dispute Swamps Confidence - Bloomberg

Oil Suffers Worst Day of 2019 as Trade Dispute Swamps Confidence - Bloomberg:Oil spiraled to its worst daily performance of the year as mounting trade tensions between the world’s biggest economies sent investors fleeing from risky assets. Futures in New York fell as much as 5.7% on Thursday for the steepest intraday decline since Dec. 24. Equity markets also slumped: the Dow Jones Industrial Average dropped more than 400 points after the Chinese Communist Party’s flagship newspaper published tw...
Tags: Travel, New York, Bloomberg, Chinese communist party, Rupert Neil Bumfrey


'Very Bullish' on GCC Bond Market, Shuaa Capital Says – Bloomberg

'Very Bullish' on GCC Bond Market, Shuaa Capital Says – Bloomberg:Aarthi Chandrasekaran, portfolio manager at Shuaa Capital Asset Management at talks about Saudi Arabian banks and the stock market, oil, and the bond markets in the six-nation Gulf Cooperation Council. She speaks "Bloomberg Daybreak: Middle East." (Source: Bloomberg) [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Bloomberg, Rupert Neil Bumfrey, Bloomberg Daybreak, Aarthi Chandrasekaran, Shuaa Capital Asset Management, Gulf Cooperation Council She


#Saudi Wealth Fund Is Said to Plan IPO of Traffic Monitoring Firm - Bloomberg

Saudi Wealth Fund Is Said to Plan IPO of Traffic Monitoring Firm - Bloomberg:Saudi Arabia’s sovereign wealth fund is weighing an initial public offering of the kingdom’s traffic-management firm, according to people familiar with the matter. Tahakom Comprehensive is working with Saudi Fransi Capital on the possible sale of a 30% stake, the people said, asking not to be identified as the information is private. The company, which operates the traffic-monitoring system Saher, is ultimately owned by...
Tags: Travel, Saudi Arabia, Bloomberg, Tadawul, Rupert Neil Bumfrey, Saher, Saudi Fransi Capital, Tahakom Comprehensive, Public Investment Fund The


TikTok owner ByteDance to launch paid music service; secures rights from T-Series, Times Music

China’s ByteDance Ltd, which owns TikTok, is building a paid music service that it plans to launch in emerging markets later this year, Bloomberg reports, citing people familiar with the matter. While it doesn’t specify which countries, the report says ByteDance has secured rights from T-Series and... ...
Tags: Travel, Mobile, Music, News, China, Bloomberg, Music Streaming, Times Music, T-Series, Bytedance, Tiktok, Bytedance Ltd


Russia Oil Sales to U.S. Seen `on Steroids' Amid Sanctions - Bloomberg

Russia Oil Sales to U.S. Seen `on Steroids' Amid Sanctions - Bloomberg:Petroleum exports from Russia to the U.S. are growing rapidly as the supplier takes advantage of lost deliveries from sanctions-hit Venezuela and supply cuts by OPEC members. In the first half of May, 13 ships from Russia delivered almost 5 million barrels of crude and oil products, according to a report by Caracas Capital Markets managing partner Russ Dallen. More supplies are en route, with American refiners set to triple t...
Tags: Travel, Russia, Opec, Bloomberg, Venezuela, Rupert Neil Bumfrey, Russ Dallen, Caracas Capital Markets


Oil Dips as Trade Standoff Muddies Outlook for Economic Growth - Bloomberg

Oil Dips as Trade Standoff Muddies Outlook for Economic Growth - Bloomberg:Oil closed lower amid warnings that the U.S.-China trade dispute may take an increasing toll on the economy.U.S. oil futures fluctuated between gains and losses on Tuesday, ending the session down 0.2%. Federal Reserve Bank of Boston President Eric Rosengren said the trade standoff is adding a downside risk to the central bank’s forecasts, while the Paris-based Organization for Economic Cooperation and Development downgra...
Tags: Travel, Europe, London, Saudi Arabia, China, Nigeria, Toronto, Opec, Bloomberg, Paris, Libya, New York Mercantile Exchange, Eric Rosengren, Federal Reserve Bank of Boston, Rupert Neil Bumfrey, Bart Melek


Top chipmakers start to cut off Huawei’s supply even as US eases some restrictions for 90 days

Chipmakers Intel, Qualcomm, Broadcom and Xilinx have told their employees that they will suspended shipments to Huawei until further notice, Bloomberg reports. Another Bloomberg report says Huawei has stockpiled chips from US suppliers to last it at least three months. The development comes even as... ...
Tags: Travel, Google, Android, Mobile, News, US, Bloomberg, Intel, Trade, Huawei, Qualcomm, Security Risk, US Commerce Department, Xilinx, Chipmakers Intel Qualcomm Broadcom


Shale Overhead Costs Under Fire as Investors Drill Even Deeper - Bloomberg

Shale Overhead Costs Under Fire as Investors Drill Even Deeper - Bloomberg:U.S. shale producers that have reined in growth plans to mollify investors are now facing increasing pressure to slash their own pay and gut bloated offices.Almost all major U.S. explorers cut their capital budgets after oil prices fell at the end of 2018. The goal: Show they were willing to pay back shareholders at a time when their stocks were under-performing the broader market. But it didn’t stop there, investors are ...
Tags: Travel, New York, Bloomberg, Rupert Neil Bumfrey, Evan Lederman


The Trade War Has Sunk Emerging Markets. There's More to Come. - Bloomberg

The Trade War Has Sunk Emerging Markets. There's More to Come. - Bloomberg:Another week, another leg of the emerging-market rout.An MSCI gauge of developing-nation stocks slipped 3.7%, setting the stage for the worst month since October. It was even worse for currencies, which capped a fifth straight week of declines, erasing gains for the year. Brazil’s real led the drop as protests added to political tensions and growth forecasts declined.“There are no deadlines” for pressure on risky assets t...
Tags: Travel, New York, Bloomberg, Brazil, Bbva, MSCI, Rupert Neil Bumfrey, Alejandro Cuadrado


Trucks can charge on Germany highway

Hybrid trucks are about to rule the road in Germany, with the installation of new “electric highways.” The country has just introduced its first stretch of an electric highway, a six-mile stretch of the autobahn south of Frankfurt, fitted with overhead wires that allow trucks to recharge on the go. Munich-based engineering firm Siemens AG is responsible for the system, which uses technology similar to trains and trams. Trucks can link up to the wires and drive while continuously receiving ele...
Tags: Travel, Germany, Bloomberg, Frankfurt, Munich, Siemens, Darmstadt, All, Siemens AG, Federal Ministry, Environment Nature Conservation and Nuclear Safety, Rita Schwarzelühr Sutter


Physical Oil Traders Are Clamoring for Barrels as Risks Multiply - Bloomberg

Physical Oil Traders Are Clamoring for Barrels as Risks Multiply - Bloomberg:From Colombia to the North Sea, the Middle East to Texas, the global market for crude cargoes is becoming tighter by the week as supplies grow more constrained and risks to production spiral.Prices for actual barrels from the North Sea, Asia, and the Americas are now trading at the highest in half a decade. Key price spreads that show how urgently oil refineries need benchmark Brent barrels are soaring.It’s little wonde...
Tags: Travel, Bloomberg, Colombia, Persian Gulf, Rupert Neil Bumfrey, North Sea the Middle East, North Sea Asia


#SouthSudan Concerned #Sudan's Turmoil Could Hurt its Oil Exports - Bloomberg

South Sudan Concerned Sudan's Turmoil Could Hurt its Oil Exports - Bloomberg:South Sudan, recovering from a civil war in which 400,000 people died and and a quarter of the population was displaced, is concerned that an uprising in neighboring Sudan could threaten its oil exports, choking off its economic lifeline. Two pipelines deliver about 175,000 barrels of oil a day to a port in Sudan, the country from which South Sudan seceded in 2011, according to the nation’s Oil Minister Ezekiel Gatkuoth...
Tags: Travel, Bloomberg, Sudan, South Sudan, Omar al Bashir, Rupert Neil Bumfrey, Ezekiel Gatkuoth, Gatkuoth, Johannesburg South Sudan


Middle East Is Not in A Crisis Right Now: Credit Suisse’s Abib – Bloomberg

Middle East Is Not in A Crisis Right Now: Credit Suisse’s Abib – Bloomberg:Oil soared to a two-week high as Saudi Arabia accused Iran of ordering this week’s attack on its key oil facilities, fueling tensions between two of the world’s oil-producing superpowers. While Saudi’s pipeline has reopened, officials from all sides are warning that a string of recent events have pushed the region closer to a potentially devastating conflict. Osmar Abib, chairman of global energy at Credit Suisse, and Ell...
Tags: Travel, Saudi Arabia, Bloomberg, Iran, Credit Suisse, Atlantic Council, Alix Steel, Rupert Neil Bumfrey, Global Energy Center, Ellen Wald, Saudi Inc, Osmar Abib


Veteran Lawyer Says Emerging-Market Debt Is Headed for Trouble - Bloomberg

Veteran Lawyer Says Emerging-Market Debt Is Headed for Trouble - Bloomberg:For developing countries facing down creditors, Lee Buchheit was the cavalry. During his 43-year career at Cleary Gottlieb Steen & Hamilton LLP, the quick-witted restructuring lawyer gained a reputation for shattering investors’ dreams of sky-high returns.Buchheit, 68, brought arcane legal terms such as collective action clauses and asset protection orders into modern debt markets. He deployed the former to spur a settlem...
Tags: Travel, Greece, Iraq, Bloomberg, Pittsburgh, Buchheit, Cleary, Cleary Gottlieb Steen Hamilton LLP, Lee Buchheit, Rupert Neil Bumfrey


OPEC and Allies Both Complied With Oil-Cuts Agreement in April

OPEC and Allies Both Complied With Oil-Cuts Agreement in April:OPEC and its partners are once again cutting production as promised in their effort to steady the market. In April both sides of the so-called OPEC+ alliance complied with their supply pact for the first time 16 months. Field maintenance in Kazakhstan made a huge contribution to non-OPEC producers’ collective conformity, while the Organization of Petroleum Exporting Countries continued its commitment to the curbs. Here’s a look at th...
Tags: Travel, Opec, Bloomberg, Venezuela, Kazakhstan, Organization of Petroleum Exporting Countries, Rupert Neil Bumfrey, Libya Iran, March International Energy Agency


Oil Rallies as Mideast Tensions Flare Over #Saudi Pipeline Attack - Bloomberg

Oil Rallies as Mideast Tensions Flare Over Saudi Pipeline Attack - Bloomberg:Oil soared to a two-week high as Saudi Arabia accused Iran of ordering this week’s attack on its key oil facilities, fueling tensions between two of the world’s oil-producing superpowers.Futures in New York advanced 1.4% on Thursday. Saudi Arabia’s vice-minister of defense and brother of the country’s de facto ruler said on Twitter that Tuesday’s drone attack was ordered by Iran.His comments came as Saudi-led forces lau...
Tags: Travel, New York, Saudi Arabia, Iraq, Bloomberg, Iran, United Nations, Yemen, Mideast, Rupert Neil Bumfrey


#UAE Won't Be `Baited Into Crisis' With #Iran as Tensions Mount - Bloomberg

U.A.E. Won't Be `Baited Into Crisis' With Iran as Tensions Mount - Bloomberg:The United Arab Emirates “won’t jump the gun” to accuse Iran of sabotaging ships off its coast, a senior government official said, as rising tensions in the Gulf stoke concerns that the region is teetering on the brink of another war.In an hour-long briefing, the U.A.E.’s minister of state for foreign affairs, Anwar Gargash, struck a cautious tone, stressing his country is “very committed to deescalation” and would exer...
Tags: Travel, Bloomberg, Iran, United Arab Emirates, Uae, Gulf, Bloomberg Television, Rupert Neil Bumfrey, Anwar Gargash, Gargash


#Dubai’s Majid Al Futtaim Plans More Green Bond Issuances: CEO – Bloomberg

Dubai’s Majid Al Futtaim Plans More Green Bond Issuances: CEO – Bloomberg:Alain Bejjani, chief executive officer of Majid Al Futtaim Holding LLC, one of the biggest real estate companies in Dubai and the operator of Carrefour SA stores in the Middle East, talks about its business strategy and its plan to raise $600 million dollars in Sukuk bonds for environmentally-friendly projects. He speaks on "Bloomberg Daybreak: Middle East." (Source: Bloomberg) [Author: [email protected] (Rupert Neil ...
Tags: Travel, Bloomberg, Middle East, Dubai, Carrefour SA, Rupert Neil Bumfrey, Majid Al Futtaim Holding LLC, Bloomberg Daybreak, Alain Bejjani


#SaudiArabia's $53 Billion Non-Oil Stimulus May Last Beyond 2021 - Bloomberg

Saudi Arabia's $53 Billion Non-Oil Stimulus May Last Beyond 2021 - Bloomberg:Saudi Arabia’s 200 billion-riyal ($53 billion) lifeline to its non-oil economy may be in place for longer than planned as the kingdom supports industries struggling to cope with reforms that pushed up costs and dampened demand.The program is earmarking 36 billion riyals to boost private-sector growth this year, on top of the 40 billion riyals already spent, according to Naif Al-Rasheed, managing director of the Private ...
Tags: Travel, Saudi Arabia, Bloomberg, Rupert Neil Bumfrey, Naif Al Rasheed, Private Sector Stimulus Office, Al Rasheed


Russia Seen Wanting to Share Saudi Output Hike as OPEC+ Meets - Bloomberg

:Russia will join OPEC+ talks this weekend having barely fulfilled its pledged production cuts, but keen to secure a share of any potential output increase.In recent months, Russia has indicated it would welcome a return to production growth, said analysts from Fitch Ratings Inc. and IHS Markit Inc. That’s back on the agenda after pledges by Saudi Arabia and its Gulf allies to fill the supply gap created by tighter U.S. sanctions on Iran.Moscow "sees a place for its extra barrels in the market,"...
Tags: Travel, Saudi Arabia, Russia, Opec, Bloomberg, Gulf, Rupert Neil Bumfrey, IHS Markit, Fitch Ratings Inc, IHS Markit Inc, Iran Moscow, Maksim Nechaev Russia


#Dubai Stocks Shift From World's Worst to Best in Just 24 Hours - Bloomberg

Dubai Stocks Shift From World's Worst to Best in Just 24 Hours - Bloomberg:Investors in Dubai’s equities might be feeling whiplash after the main index went from the day’s worst performer worldwide to the biggest gainer in back-to-back sessions, in response to shifting news on regional tensions and local stocks’ presence in global benchmarks.The DFM General Index advanced 3.5% Tuesday, gaining more than any other major market tracked by Bloomberg and almost fully erasing a loss of 4% the previou...
Tags: Travel, Bloomberg, Dubai, MSCI, Persian Gulf, Rupert Neil Bumfrey, MSCI Inc, Emaar Malls PJSC, Emaar Development PJSC


#Saudi Pipeline Attack Highlights Risk to Middle East Oil Exports - Bloomberg

Saudi Pipeline Attack Highlights Risk to Middle East Oil Exports - Bloomberg:The Yemeni rebel drone attack that forced Saudi Arabia to temporarily shut its main cross-country oil link highlights risks to crude exports from the Persian Gulf as U.S. efforts to eliminate Iran’s oil exports inflame regional tensions.Why does the attack matter?State oil giant Saudi Aramco is the world’s largest crude exporter, and Saudi Arabia sees its role in global oil markets as helping to balance supply and deman...
Tags: Travel, Saudi Arabia, Bloomberg, Iran, Middle East, Strait Of Hormuz, Saudi Aramco, Persian Gulf, Rupert Neil Bumfrey


MSCI Boosts China, Adds #Saudi to Emerging-Market Indexes - Bloomberg

MSCI Boosts China, Adds Saudi to Emerging-Market Indexes - Bloomberg:Twenty-six China A shares will be added to the MSCI China Index, while 30 equities from Saudi Arabia and eight Argentine securities are set to join the MSCI Inc.’s emerging-market stocks benchmarks, in steps that could potentially draw billions of dollars of investor inflows.MSCI, which announced the additions of Saudi Arabia and Argentina last June, said the stocks will join its indexes as of the close of trading on May 28. Ar...
Tags: Travel, Saudi Arabia, China, Bloomberg, Argentina, Kuwait, MSCI, Rupert Neil Bumfrey, MSCI Emerging Markets, MSCI Inc


Oil Rises as #SaudiArabia Reports Drone Attacks on Pump Stations - Bloomberg

Oil Rises as Saudi Arabia Reports Drone Attacks on Pump Stations - Bloomberg:Oil rose as Saudi Arabia reported drone attacks on pumping stations, the latest escalation in Middle East tensions after tankers were hit by sabotage over the weekend.Futures rose 0.6% in New York after falling 1% on Monday in tandem with equity markets. Unidentified drones attacked two pumping stations belonging to Saudi Aramco, forcing the state oil company to suspend operations in the area to assess what the kingdom ...
Tags: Travel, New York, Saudi Arabia, Nigeria, Bloomberg, Middle East, United Arab Emirates, Norway, Saudi Aramco, Organization of Petroleum Exporting Countries, Rupert Neil Bumfrey


#Dubai Banks Are Said to Hire HSBC and Barclays for Merger Talks - Bloomberg

Dubai Banks Are Said to Hire HSBC and Barclays for Merger Talks - Bloomberg:Dubai Islamic Bank PJSC hired HSBC Holdings Plc to advise on its possible acquisition of smaller rival Noor Bank PJSC, according to people with knowledge of the matter.Noor Bank is working with Barclays Plc on the deal, the people said, asking not to be identified because the discussions are private. An acquisition would create a lender with 278 billion dirhams ($76 billion) in assets.Dubai Islamic Bank can see “a lot of...
Tags: Travel, Bloomberg, Barclays, Hsbc, Dubai, Barclays PLC, HSBC Holdings Plc, Noor Bank, Rupert Neil Bumfrey, Dubai Islamic Bank, Adnan Chilwan, Noor Bank PJSC, Dubai Islamic Bank PJSC


Most Mideast Stocks Fall With Trade Tension Spreading: Inside EM - Bloomberg

Most Mideast Stocks Fall With Trade Tension Spreading: Inside EM - Bloomberg:Most stock markets in the Middle East retreated on Sunday as investors see more volatility spilling over from trade talks between the U.S. and China.President Donald Trump said in a tweet on Sunday it would be wise for China to “act now” to finish a trade deal with the U.S., warning that “far worse” terms would be on offer for them after what he predicted would be his certain re-election in 2020.The main equity indexes ...
Tags: Travel, Saudi Arabia, China, Bloomberg, Middle East, Donald Trump, Kuwait, Riyadh, Rupert Neil Bumfrey


The Winner From Trump's Iran Sanctions? #SaudiArabia - Bloomberg

The Winner From Trump's Iran Sanctions? Saudi Arabia - Bloomberg:Saudi Arabia is set to do very nicely from President Donald Trump’s tougher oil sanctions on Iran.The Arab kingdom is poised to raise its own output to meet all requests for oil purchases it has received for June, notably from countries that have had to stop buying Iranian crude. Other Persian Gulf Arab countries with spare production capacity — Iraq, Kuwait and the U.A.E. — will almost certainly follow suit.Saudi Arabia has plenty...
Tags: Travel, Saudi Arabia, Opec, Bloomberg, Iran, Donald Trump, Trump, Iraq Kuwait, Rupert Neil Bumfrey, Saudi Arabia Bloomberg


Oil Options Traders Eye Price Spike as Political Risks Swirl - Bloomberg

Oil Options Traders Eye Price Spike as Political Risks Swirl - Bloomberg:Whether it’s the U.S. sending military warnings to Iran or tensions in Venezuela, some oil traders have started to gear up for a possible price surge as political risks escalate. Trading in relatively cheap option contracts that would profit from crude soaring to as much as $110 a barrel has taken off in the past two weeks. In total, the equivalent of more than 45 million barrels of $90, $100 and $110 calls, have traded in ...
Tags: Travel, America, Opec, Bloomberg, Iran, Middle East, Venezuela, Persian Gulf, Rupert Neil Bumfrey


#Dubai's Economic Hopes Flying High at Cost of Huge Discounting - Bloomberg

Dubai's Economic Hopes Flying High at Cost of Huge Discounting - Bloomberg:Dubai’s latest growth spurt is coming with a sharp discount.Business conditions in the emirate’s non-oil private sector improved at the fastest rate in over four years in April as companies led by wholesalers and retailers offered lower prices to win orders, the seasonally adjusted Emirates NBD Dubai Economy Tracker Index showed on Thursday.The gauge rose to 57.9 from 57.6 in March, edging further above the threshold of 5...
Tags: Travel, Bloomberg, Dubai, Rupert Neil Bumfrey, Emirates NBD Dubai Economy Tracker Index



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