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#Dubai Announces Economic Incentive Package for its Free Zones - Bloomberg

Dubai Announces Economic Incentive Package for its Free Zones - Bloomberg:Dubai announced an economic incentive package for its free zones on Saturday in the light of “exceptional circumstances” related to the coronavirus pandemic.The measure consists of five parts, including postponing rent payments for six months and cancellation of some fines for companies and individuals, the state-run Emirates News Agency reported. The city is home to a number of free zones, including the Dubai Internationa...
Tags: Travel, Bloomberg, Dubai, Gulf, Rupert Neil Bumfrey, Emirates News Agency, Dubai Announces Economic Incentive Package


Oil News, OPEC: OPEC Members Aren’t Backing Request for Urgent Consultations - Bloomberg

Oil News, OPEC: Latest on Crude Prices in Energy War - Bloomberg:OPEC nations aren’t giving support to a request from the group’s president for emergency consultations over tanking oil prices, according to a delegate.Algeria, which holds the cartel’s rotating presidency, urged the secretariat this week to convene a panel that assesses market conditions as oil slumps amid the coronavirus crisis and a price war launched by OPEC’s biggest member, Saudi Arabia.However, the request has failed to gath...
Tags: Travel, Saudi Arabia, Russia, Opec, Bloomberg, Algeria, Riyadh, Rupert Neil Bumfrey, Energy War Bloomberg


Petrostates Hammered by Oil Price Plunge and Pandemic’s Spread - Bloomberg

Petrostates Hammered by Oil Price Plunge and Pandemic’s Spread - Bloomberg:Kazakhstan’s long-standing leader calls it a “perfect storm.” Venezuela’s government is shutting fuel stations across the country. Chad is paying its sovereign debts using cattle.Across the oil-rich states of Africa, the Middle East, Latin America and the former Soviet Union, leaders accustomed to a steady flow of petrodollars see trouble ahead as the oil price war promises to destabilize their economies -- and perhaps th...
Tags: Travel, Africa, Bloomberg, Chad, Venezuela, Kazakhstan, Soviet Union, Vitol Group, Middle East Latin America, Rupert Neil Bumfrey, Russell Hardy


Energy Closing oil prices - Bloomberg

Energy - Bloomberg: Get updated commodity futures prices. Find information about commodity prices and trading, and find the latest commodity index comparison charts. [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Bloomberg, Rupert Neil Bumfrey, Energy Bloomberg


Oil Tankers Fill at Record Pace as Glut Overwhelms Storage - Bloomberg

Oil Tankers Fill at Record Pace as Glut Overwhelms Storage - Bloomberg:The world’s oil tankers are being filled with crude at a record pace as the options to store a glut on land rapidly diminish, one of the industry’s largest owners said.A combination of surging production from key producers worldwide and capitulating demand in the face of the coronavirus outbreak means that land storage is being overwhelmed, said Robert Hvide Macleod, Chief Executive Officer of Frontline Management AS. The wor...
Tags: Travel, Bloomberg, Rupert Neil Bumfrey, Robert Hvide Macleod, International Seaways Inc


Virus Onslaught Deepens Gulf Disquiet Over #Saudi Oil-Price War - Bloomberg

Virus Onslaught Deepens Gulf Disquiet Over Saudi Oil-Price War - Bloomberg:Saudi Arabia’s oil-price war with fellow exporting giant Russia bewildered the kingdom’s Gulf allies, unexpectedly shattering their fiscal defenses just when they’re most needed to combat the coronavirus.The United Arab Emirates and Kuwait, along with smaller neighbors, want a return to talks among the OPEC+ cabal of oil powers but the central protagonists, including Crown Prince Mohammed bin Salman, are digging in.As the...
Tags: Travel, Saudi Arabia, Russia, Opec, Bloomberg, United Arab Emirates, Kuwait, Gulf, Mohammed bin Salman, Rupert Neil Bumfrey


Oil Resumes Plunge After IEA Warns That Demand Is in ‘Free Fall’ - Bloomberg

Oil Resumes Plunge After IEA Warns That Demand Is in ‘Free Fall’ - Bloomberg: PRICES: U.S. marker West Texas Intermediate fell $1.89 to $22.60 a barrel in New York Global benchmark Brent crude declined 3.8% to $26.34 a barrel Futures in New York tumbled 7.7% in New York, dropping for the first time this week, after IEA executive director Fatih Birol said demand could drop as much as 20 million barrels a day. The gloomy outlook exacerbated investor pessimism driven by a U.S. decision to res...
Tags: Travel, New York, Opec, Bloomberg, IEA, North Sea, Goldman Sachs Group Inc, Fatih Birol, Rupert Neil Bumfrey, New York Global, IHS Markit, Mike Hiley, Congress Market


Oil Shock Unmasks Fragile Mideast Trio With Bahrain Most Exposed - Bloomberg

Oil Shock Unmasks Fragile Mideast Trio With Bahrain Most Exposed - Bloomberg:The collapse in oil prices is exposing a divide between Arab energy producers, with Bahrain the most vulnerable to the shockwaves rippling through the market amid the coronavirus outbreak, according to Bloomberg Economics.Bahrain, Oman, Iraq, as well as Iran, are the weakest when measured by a set of five criteria ranging from international reserves and public debt to the price of oil needed to balance the current accou...
Tags: Travel, Qatar, Bloomberg, Iran, Middle East, Dubai, Bahrain, Kuwait, United Arab Emirates Saudi Arabia, Rupert Neil Bumfrey, Ziad Daoud Bloomberg, Bloomberg Economics Bahrain Oman Iraq


Oil Tanks Are So Full That Traders May Stow It on Pipe Networks - Bloomberg

Oil Tanks Are So Full That Traders May Stow It on Pipe Networks - Bloomberg:The glut of U.S. oil is growing so fast that at least one pipeline owner is concerned wily traders may try to stow away crude on its network until prices improve.Plains All American Pipeline LP is requiring customers to prove they have a buyer or place to offload crude they’re shipping through the company’s pipes, according to people familiar with the matter. The idea is to prevent anyone from using Plains’s network to p...
Tags: Travel, Bloomberg, Cushing Oklahoma, Plains All American Pipeline LP, Rupert Neil Bumfrey, Colonial Pipeline Co, using Plains


European, Middle Eastern & African Stocks - Bloomberg #SaudiArabia #UAE #Qatar

European, Middle Eastern & African Stocks - Bloomberg:Updated stock indexes in Europe, Middle East & Africa. Get an overview of major indexes, current values and stock market data in Europe, UK, Germany, Russia & more. [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Bloomberg, Europe Middle East Africa, Rupert Neil Bumfrey, UAE Qatar, Europe UK Germany Russia


U.S. Calls on #SaudiArabia to Halt Plan to Unleash Record Oil Supply - Bloomberg

U.S. Calls on Saudi Arabia to Halt Plan to Unleash Record Oil Supply - Bloomberg:The Trump administration is pressing Saudi Arabia to dial back its plan to flood the oil market as the price war with Russia sent crude prices crashing to the lowest levels in decades. Bloomberg’s Stephen Stapczynski reports on “Bloomberg Daybreak: Middle East.” (Source: Bloomberg) [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Saudi Arabia, Russia, Bloomberg, Middle East, Trump, Rupert Neil Bumfrey, Bloomberg Daybreak, Stephen Stapczynski


#Qatar Air CEO Warns There May be ‘Nothing Left to Consolidate’ - Bloomberg

Qatar Air CEO Warns There May be ‘Nothing Left to Consolidate’ - Bloomberg:Qatar Airways Chief Executive Officer Akbar Al Baker said many airlines will go bust as the coronavirus outbreak ravages demand for travel, limiting the scope for takeovers.While the Gulf carrier is open to acting on any investment opportunities that present themselves, the pandemic is likely to lead to the immediate collapse of some operators, Al Baker said Thursday on Bloomberg Television.“There will be nothing left for...
Tags: Travel, Qatar, Bloomberg, Gulf, Qatar Airways, Bloomberg Television, Akbar Al Baker, Rupert Neil Bumfrey, al Baker


U.S. Putting Pressure on Saudis to Hold Off on Output Surge - Bloomberg

U.S. Putting Pressure on Saudis to Hold Off on Output Surge - Bloomberg:The Trump administration is leaning on Saudi Arabia to dial back its plan to flood the oil market after a price war with Russia helped send prices tumbling to their lowest level in almost two decades.While its status as the world’s biggest producer means the U.S. is sheltered in part from the collapse, it’s still calling on the Saudis to exercise restraint, according to a person familiar with the situation who spoke on condi...
Tags: Travel, Saudi Arabia, Russia, Bloomberg, Group, Trump, Riyadh, State, Mohammed bin Salman, Rupert Neil Bumfrey, Michael Pompeo


World’s Rich ‘Desperate’ for Gold With Metal in Short Supply - Bloomberg

World’s Rich ‘Desperate’ for Gold With Metal in Short Supply - Bloomberg: [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Bloomberg, Rupert Neil Bumfrey


Coronavirus: #Qatar Airways Still Operating a Third of Flights - Bloomberg

Coronavirus: Qatar Airways Still Operating a Third of Flights - Bloomberg:Qatar Airways said it’s continuing to operate a third of its normal schedule while bulking up on cargo flights as the Mideast carrier seeks to ride out the coronavirus outbreak.The second-biggest Gulf airline is still operating about 150 flights a day, serving European cities such as Frankfurt and Munich and more far-flung destinations in the U.S., Australia and parts of Asia, Thierry Antinori, its head of strategy, said W...
Tags: Travel, Asia, Europe, Australia, Qatar, Bloomberg, Frankfurt, Munich, Middle East, Emirates, Airbus, Gulf, Qatar Airways, Mideast, Boeing Co, Doha Qatar


Forget $25, Oil’s Trading Much Lower in the Real World - Bloomberg

Forget $25, Oil’s Trading Much Lower in the Real World - Bloomberg:As oil crashes due to the impact of the coronavirus, it’s easy to overlook an even more dismal reality for producers: the real prices they’re getting for their barrels are worse still.Having collapsed by about 60% this year, Brent and West Texas Intermediate crude have stabilized at around $25 a barrel, but the price rout is far deeper for actual cargoes, which are changing hands at large and widening discounts to the global benc...
Tags: Travel, Bloomberg, Rupert Neil Bumfrey, Torbjorn Tornqvist, Gunvor Group Ltd


As OPEC Pursues Oil Supply War, Here’s Who Has Most Firepower - Bloomberg

As OPEC Pursues Oil Supply War, Here’s Who Has Most Firepower - Bloomberg:With the shackles of OPEC’s output limits thrown off and a price war underway, the group’s biggest oil producers are preparing to churn out more barrels to protect market share.But making up in volume for what they’re losing in price is looking increasingly difficult as the coronavirus pandemic eviscerates demand. What’s more, some producers, like Iraq and Libya, are facing political and security stumbling blocks to increa...
Tags: Travel, Iraq, Opec, Bloomberg, Libya, Rupert Neil Bumfrey


U.S.- #Saudi Oil Cartel Not a Good Idea, APA CEO Mike Sommers Says: Video - Bloomberg

U.S.-Saudi Oil Cartel Not a Good Idea, APA CEO Mike Sommers Says: Video - Bloomberg:Mike Sommers, American Petroleum Institute chief executive officer, says he'd be against the U.S. and Saudi Arabia forming a new oil cartel. He speaks with Bloomberg's Vonnie Quinn and Amanda Lang on "Bloomberg Markets." (Source: Bloomberg) [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Saudi Arabia, Bloomberg, Amanda Lang, Rupert Neil Bumfrey, Bloomberg Markets Source, Mike Sommers, Vonnie Quinn, Video Bloomberg, Mike Sommers American Petroleum Institute


U.S.-Saudi Oil Accord One Idea Discussed, Energy Secretary Says - Bloomberg

U.S.-Saudi Oil Accord One Idea Discussed, Energy Secretary Says - Bloomberg:U.S. Energy Secretary Dan Brouillette said the possibility of a joint U.S.-Saudi oil alliance is one idea under consideration to stabilize prices after the worst crash in a generation. [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Bloomberg, U S Energy, Rupert Neil Bumfrey, Dan Brouillette


Stock Market Today: Dow, S&P Live Updates for March 22, 2020 - Bloomberg

Stock Market Today: Dow, S&P Live Updates for March 22, 2020 - Bloomberg:U.S. equity futures reversed a decline and Treasuries extended an advance after the Federal Reserve on Monday announced a massive second wave of initiatives to support the shuttered American economy. The dollar fluctuated and European stocks fell.S&P 500 and Nasdaq 100 futures had earlier dropped to their daily limits, but they gradually recovered before the Fed news helped them erase all their losses. The central bank said...
Tags: Travel, Asia, Europe, India, Bloomberg, Italy, Federal Reserve, Nasdaq, Fed, Treasuries, Rupert Neil Bumfrey


Coronavirus: Emirates Had Challenges Even Before the Outbreak - Bloomberg

Coronavirus: Emirates Had Challenges Even Before the Outbreak - Bloomberg:Much as Pan Am Corp. was an emblem of the first wave of global aviation, Emirates has dominated the world airline industry for a generation. Its announcement that almost all passenger flights will be suspended from Wednesday marks the death knell of that era.The Dubai-based carrier is the largest airline by international passenger traffic, with the capacity to move its customers 391 billion seat-kilometers last year. In te...
Tags: Travel, Bloomberg, Emirates, Dubai, Qantas Airways Ltd, Rupert Neil Bumfrey, Cathay Pacific Airways Ltd, Etihad Airways PJSC, Pan Am Corp


Ruling on #Lebanon Debt Insurance Paves Way for $400m Payout - Bloomberg

Ruling on Lebanon Debt Insurance Paves Way for $400m Payout - Bloomberg:Investors in credit insurance on Lebanon are set to receive a payout after a binding ruling from a CDS committee.Up to roughly $400 million of contracts could pay after the heavily-indebted nation failed to honor a $1.2 billion Eurobond due earlier this month. The exact value will be decided at an auction to settle the credit swaps, which will take place at a later date.The Middle Eastern country is struggling to cope with d...
Tags: Travel, Bloomberg, Lebanon, Hezbollah, Rupert Neil Bumfrey, Lebanon Debt Insurance Paves Way, Raoul Nehme


#UAE Stimulus Package: Coronavirus Latest Details - Bloomberg

U.A.E. Stimulus Package: Coronavirus Latest Details - Bloomberg:The United Arab Emirates boosted the size of its stimulus package to $34 billion as the second-biggest Arab economy seeks to fend off the impact of the coronavirus.The cabinet approved an additional support package of 16 billion dirhams, bringing the total size to 126 billion dirhams, according to a tweet by Dubai’s ruler Sheikh Mohammed Bin Rashid Al Maktoum, who is also the prime minister of the U.A.E.The nation’s central bank ear...
Tags: Travel, Bloomberg, United Arab Emirates, Dubai, Abu Dhabi, Sheikh Mohammed bin Rashid al Maktoum, Rupert Neil Bumfrey


Stock Market Today: Dow, S&P Live Updates for March 22, 2020 - Bloomberg

Stock Market Today: Dow, S&P Live Updates for March 22, 2020 - Bloomberg:U.S. equity futures tumbled at the start of trading Monday after a surge in the global death toll from the coronavirus and a failure as yet by Congress to agree on an aid plan. Crude oil slumped.S&P 500 futures dropped 5% and hit limit down after the index lost more than 4% on Friday. Asian contracts pointed lower. The dollar climbed against major peers. New Zealand’s dollar fell with the country’s bond yields after its cen...
Tags: Travel, Congress, Bloomberg, New Zealand, Treasury, Fed, Goldman Sachs Group Inc, Federal Reserve Bank of St Louis, James Bullard, Rupert Neil Bumfrey, Zach Pandl, Kamakshya Trivedi


#Dubai, Middle Eastern News: Banks to Offer Relief Amid Virus - Bloomberg

Dubai, Middle Eastern News: Banks to Offer Relief Amid Virus - Bloomberg:Dubai’s ruler Sheikh Mohammed Bin Rashid Al Maktoum asked local banks to offer companies relief measures including refinancing and repayment referrals, amid measures aimed to stifle the impact of the coronavirus on the economy.Relief measures should prioritize key industries contributing to the Gulf nation’s economy and sectors most impacted by the coronavirus such as health care, aviation, hospitality and retail, according...
Tags: Travel, Bloomberg, Dubai, Gulf, Mohammed bin Rashid Al Maktoum, Commercial Bank of Dubai, Rupert Neil Bumfrey, Dubai Media Office Measures


OPEC-Shale Peace Prospects Crumble Hours After Historic Call - Bloomberg

OPEC-Shale Peace Prospects Crumble Hours After Historic Call - Bloomberg:Just hours after one of the most powerful officials in the biggest U.S. oil state was invited to OPEC’s inner sanctum in June, prospects for a rapprochement between two historically antagonistic crude powers began to unravel. Texas Railroad Commissioner Ryan Sitton said Friday he was invited by OPEC Secretary General Mohammad Barkindo to attend the group’s summer meeting in Vienna. But even as the surprise announcement reve...
Tags: Travel, Texas, Opec, Bloomberg, Vienna, Republican Party, Lone Star, Sitton, Rupert Neil Bumfrey, Wayne Christian, Mohammad Barkindo, Texas Railroad, Ryan Sitton


Oil Makes Record Rebound After Trump Hints at Role in Price War - Bloomberg

Oil Makes Record Rebound After Trump Hints at Role in Price War - Bloomberg:West Texas Intermediate surged by 24%, the most ever, after President Donald Trump said he may intervene in the standoff between Saudi Arabia and Russia. The two nations are pumping more crude in the battle for market share. Bloomberg’s James Thornhill reports on “Bloomberg Markets.” (Source: Bloomberg) [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Saudi Arabia, Russia, Bloomberg, Donald Trump, Rupert Neil Bumfrey, James Thornhill


Oil Has Best Day Ever After Trump Hints at Role in Price War - Bloomberg

Oil Has Best Day Ever After Trump Hints at Role in Price War - Bloomberg:PRICES:West Texas Intermediate for April delivery, which expires Friday, climbed $4.85 to settle at $25.22 a barrel on the New York Mercantile Exchange Global benchmark Brent crude added $3.96 to $28.84 at 3:47 p.m. on London’s ICE Futures Europe exchange [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Europe, London, Bloomberg, Rupert Neil Bumfrey


Oil War, Virus Plight Force $13.3 Billion in #Saudi Spending Cuts - Bloomberg

Oil War, Virus Plight Force $13.3 Billion in Saudi Spending Cuts - Bloomberg:Saudi Arabia announced 50 billion riyals ($13.3 billion) in budget spending cuts after the crash in oil prices and the coronavirus outbreak wreaked havoc on its public finances.As the kingdom doubled down in its price war with Russia, authorities signed off on expenditure reductions equivalent to under 5% of the total outlays approved in this year’s budget, Finance Minister Mohammed al-Jadaan was cited as saying by stat...
Tags: Travel, Saudi Arabia, Russia, Bloomberg, Saudi Press Agency, Rupert Neil Bumfrey, Mohammed al Jadaan, Al Jadaan, COVID


European, Middle Eastern & African Stocks - Bloomberg

European, Middle Eastern & African Stocks - Bloomberg:Updated stock indexes in Europe, Middle East & Africa. Get an overview of major indexes, current values and stock market data in Europe, UK, Germany, Russia & more. [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Bloomberg, Europe Middle East Africa, Rupert Neil Bumfrey, Europe UK Germany Russia



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