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The Next Shale Fracker Revolution Has Begun - Bloomberg

The Next Shale Fracker Revolution Has Begun - Bloomberg:Successful revolutions must eventually grapple with the question of what to do with that success. The shale revolution is grappling with that right now.Two veteran shale executives, Tim Dove and Floyd Wilson, have just stepped down from the top jobs at Pioneer Natural Resources Co. and Halcón Resources Corp., respectively. Dove had set a goal of quadrupling Pioneer’s output to 1 million barrels of oil equivalent within a decade, but the spe...
Tags: Travel, Colorado, Bloomberg, Pdc, Wilson, Dove, Pioneer, BP Plc, Pioneer Natural Resources Co, Halcón Resources Corp, Floyd Wilson, Rupert Neil Bumfrey, Tim Dove, Kimmeridge Energy Management Co, Petrohawk Energy Corp, BHP Group Plc


Baidu’s video site iQiyi adds 37M subscribers in 2018 amid mounting losses

China’s Baidu, which is often compared to Alphabet’s Google, is showing no signs of slowing down its pace of betting on video content as its core advertising unit feels the squeeze from rivals. The company’s latest financial results show its video streaming business iQiyi posted a net loss of 9.1 billion yuan or $1.3 billion in 2018, compared to just 3.74 billion yuan in 2017. Not long ago, iQiyi announced raising $500 million in convertible notes to fuel its spending spree. The video site...
Tags: Travel, Google, China, US, Bloomberg, Netflix, Beijing, Tencent, Baidu, Tencent Video, Google Ventures, Volvo, Bing, Alexa, Sogou, Disney of China


Sainsbury Snag Adds $336 Million to #Qatar's European Problems - Bloomberg

Sainsbury Snag Adds $336 Million to Qatar's European Problems - Bloomberg:The day a major deal hits a snag is never a good one for investors, and Wednesday must have been particularly annoying for the Qatar Investment Authority.QIA is J Sainsbury Plc’s largest shareholder, controlling more than a fifth of the British grocery chain. The value of that holding fell by about 257 million pounds ($336 million) Wednesday, data compiled by Bloomberg show, on news that the grocer’s planned tie-up with As...
Tags: Travel, Europe, Qatar, Bloomberg, Sainsbury, Asda, Brexit, Qatar Investment Authority QIA, Rupert Neil Bumfrey, Sainsbury Plc, European Problems Bloomberg


As shared kitchens heat up, a China-based startup, Panda Selected, nabs $50 million led by Tiger Global

A few weeks ago, we told you that former Uber CEO Travis Kalanick looks to be partnering with the former COO of the bike-sharing startup Ofo, Yanqi Zhang, to bring his new L.A.-based company, CloudKitchens, to China. Kalanick didn’t respond to our request for more information, but according to the (SCMP), his plan is to provide local food businesses with real estate, facilities management, technology and marketing services. He might want to move quickly. Kitchens that invite restaurants to shar...
Tags: Travel, TC, China, Bloomberg, Beijing, Travis Kalanick, Tiger Global, Hangzhou, Scmp, Shanghai Beijing Shenzhen, Panda Selected, Ofo Yanqi Zhang, China Kalanick, Luckin Coffee Kungfu, Haipeng Li


Cheapest #Dubai Stocks in 8 Years Trigger Best Gain Since 2016 - Bloomberg

Cheapest Dubai Stocks in 8 Years Trigger Best Gain Since 2016 - Bloomberg:Investors just woke up to the allure of last year’s worst-performing stock market, with Bank of America Merrill Lynch and Morgan Stanley saying it’s bargain time.Dubai’s main index, which tumbled almost 25 percent last year, had its best day on Wednesday since December 2016. Before that, the stocks had been trading at the biggest discount to their emerging-market peers since 2011.“U.A.E. stocks look very, very attractive v...
Tags: Travel, Bloomberg, Dubai, Morgan Stanley, Bank of America Merrill Lynch, Middle East North Africa, Rupert Neil Bumfrey, Hootan Yazhari


#UAE Says #Qatar Embargo Stands After Trade Ban Seemed Eased - Bloomberg

U.A.E. Says Qatar Embargo Stands After Trade Ban Seemed Eased - Bloomberg:The United Arab Emirates said a port circular signaling an easing of the almost two-year Saudi-led embargo of Qatar was “misinterpreted” and that a clarification will be issued to ports.The clarification will address a directive by Abu Dhabi Ports that removed any mention of banning cargo shipments to Qatar, allowing a resumption of trade by third-party shippers. A previous order that barred goods originating from either Q...
Tags: Travel, Wam, Qatar, Bloomberg, United Arab Emirates, Rupert Neil Bumfrey, Federal Transport Authority, Abu Dhabi Ports


And Just Like That, #Oman's Bond Yields Are Back Below #Bahrain's - Bloomberg

And Just Like That, Oman's Bond Yields Are Back Below Bahrain's - Bloomberg:The hefty premium investors demanded to hold Oman’s Eurobonds rather than those of lower-rated Bahrain has just vanished.The sultanate’s plans to slash its borrowing requirements and rely on asset sales for funding lifted Eurobonds due 2028 by the most on record, driving the yield down 37 basis points to 6.43 percent as of 8:42 a.m. in London. Bahrain’s similar-maturity debt now yields one basis point more than Oman’s, a...
Tags: Travel, Bloomberg, Oman, Bahrain, Rupert Neil Bumfrey, London Bahrain, Bloomberg Oman


#Oman Said to Cut Borrowing Plans as It Turns to Asset Sales - Bloomberg

Oman Said to Cut Borrowing Plans as It Turns to Asset Sales - Bloomberg:Oman plans to slash its borrowing requirements for 2019 by as much as 70 percent and rely on asset sales to plug one of the largest budget deficits among oil exporters, according to a senior government official.The Gulf Arab monarchy will likely raise between $2 billion and $3 billion in bonds and loans, the official said on condition of anonymity because the plans haven’t been made public. The budget had listed debt require...
Tags: Travel, Bloomberg, Oman, Rupert Neil Bumfrey, Oman Oil Co, Oman Gas Co, Khazzan, Oman Said, Asset Sales Bloomberg


Next OPEC Headache Is Brazil's Burgeoning Crude Production - Bloomberg

Next OPEC Headache Is Brazil's Burgeoning Crude Production - Bloomberg:When the giant P-67 floating oil production vessel lit its flare tower earlier this month, it marked the start of a Brazilian supply boom that’s poised to challenge OPEC’s efforts to balance the global market.The mammoth facility -- long and wide enough to fit an American football field -- is the first of four similar platforms to begin pumping crude this year, lifting Brazilian output by roughly 365,000 barrels a day, its la...
Tags: Travel, Texas, Saudi Arabia, Russia, Opec, Bloomberg, North Dakota, Brazil, International Energy Agency, Rupert Neil Bumfrey, Riyadh Moscow


What The Inclusion in Key EM Benchmarks Would Mean for #Saudi Stocks – Bloomberg

What The Inclusion in Key EM Benchmarks Would Mean for Saudi Stocks – Bloomberg:Rami Sidani, the head of Middle East, North Africa portfolio management at Schroder Investment Management, talks about the prospects for Saudi Arabian stocks and the kingdom’s inclusion in key emerging-market benchmarks compiled by MSCI Inc. and FTSE Russell later this year. He speaks with Manus Cranny and Yousef Gamal El-Din on "Bloomberg Daybreak: Middle East." (Source: Bloomberg) [Author: [email protected] (R...
Tags: Travel, Bloomberg, Russell, Saudi Arabian, Middle East North Africa, Rupert Neil Bumfrey, MSCI Inc, Bloomberg Daybreak, Yousef Gamal El Din, Schroder Investment Management, Rami Sidani


Delta and easyJet could invest up to 400 million euros in Alitalia

Bloomberg says rescue plan will be led by Italian rail operato
Tags: Travel, Bloomberg, Delta, Alitalia


OPEC, Allies Reset Oil Cuts. About Half Are Keeping the Bargain.

OPEC, Allies Reset Oil Cuts. About Half Are Keeping the Bargain.:The oil-producer alliance known as OPEC+ in January completed its first month of supply cuts after adjusting the terms of the pact late last year. The results are less than stellar. Just 10 out of 21 nations curbing output fully complied with the accord last month, Bloomberg estimates show. [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Opec, Bloomberg, Rupert Neil Bumfrey


#Dubai's `Long Decline' in Property Prices Isn't Over Yet for S&P - Bloomberg

Dubai's `Long Decline' in Property Prices Isn't Over Yet for S&P - Bloomberg:The worst is yet to come for Dubai’s real estate after prices already plunged close to levels last seen during a crash a decade ago, according to S&P Global Ratings.A supply glut has built up even as demand faltered, feeding what S&P is calling the market’s “long decline” that’s seen prices and rents drop by as much as a third since peaking in 2014. The worries go beyond the property sector in Dubai, which relies on rea...
Tags: Travel, Bloomberg, Dubai, Rupert Neil Bumfrey, Sapna Jagtiani


$10 Billion Bailout Makes #Bahrain Debt Best in Gulf as #Oman Lags - Bloomberg

$10 Billion Bailout Makes Bahrain Debt Best in Gulf as Oman Lags - Bloomberg:Bonds of Bahrain, the smallest member of the Gulf Cooperation Council, have handed investors the biggest return since the island nation’s $10 billion bailout last year. For those holding Oman’s debt, the losses have piled up.Corporate and sovereign notes from Bahrain delivered an average return of almost 5 percent since the aid was pledged at the start of October, data compiled by Bloomberg show. The tiny Gulf kingdom, ...
Tags: Travel, Saudi Arabia, Bloomberg, Oman, Bahrain, Gulf, Gulf Cooperation Council, JPMorgan Chase Co, Rupert Neil Bumfrey, Bahrain Debt Best


Sunday Strategist: Airbus Grounded Its A380 After Only 11 Years - Bloomberg

Sunday Strategist: Airbus Grounded Its A380 After Only 11 Years - Bloomberg:Airbus finally grounded its massive A380 a mere 11 years after its debut (in airplane years, that’s a blink).The strategy on this superplane was suspect from the start. It was conceived in the late 1990s to conquer Boeing’s 747 and it did just that—in size, range and Instagram-worthy features. But when Airbus finally gave the 380 the green light, Boeing’s big bird was 31 years old and already starting its long, gradual d...
Tags: Travel, Craigslist, Bloomberg, Airbus, Boeing, Chicago Tribune, Sun Times, Rupert Neil Bumfrey


Bankers Are Sick of Choosing Sides Between #Qatar and #SaudiArabia - Bloomberg

Bankers Are Sick of Choosing Sides Between Qatar and Saudi Arabia - Bloomberg:When Saudi Arabia cut ties with Qatar in mid-2017, many international bankers chose to chase a potential fee windfall in Riyadh over doing deals with its rich but isolated neighbor.They’re not willing to pick sides anymore.Executives from HSBC Holdings Plc, Goldman Sachs Group Inc. and other global banks are intensifying efforts to repair ties with Qatar’s finance ministry and sovereign wealth fund, according to interv...
Tags: Travel, Saudi Arabia, Qatar, Bloomberg, Doha, Riyadh, Rupert Neil Bumfrey, Saudi Arabia Bloomberg, HSBC Holdings Plc Goldman Sachs Group Inc


Khamenei Wants Less Money Injected Into #Iran's Wealth Fund - Bloomberg

Khamenei Wants Less Money Injected Into Iran's Wealth Fund - Bloomberg:Iran’s supreme leader, Ayatollah Ali Khamenei, wants less oil income diverted to the country’s sovereign wealth fund, the semi-official Tasnim news agency reported, as the economy reels from renewed U.S. sanctions.Khamenei has instructed parliament to amend the draft budget for the Iranian year beginning March 21 so 20 percent of oil revenue is paid into the National Development Fund, versus the originally planned 30 percent,...
Tags: Travel, Bloomberg, Iran, Ayatollah Ali Khamenei, Tehran, Nader, Khamenei, Tasnim, Rupert Neil Bumfrey, Khamenei Wants Less Money Injected Into Iran


Oil Poised for Weekly Gain as OPEC+ Cuts Counter Trade Worries - Bloomberg

Oil Poised for Weekly Gain as OPEC+ Cuts Counter Trade Worries - Bloomberg:Oil headed for its biggest weekly gain in a month as the OPEC+ coalition’s supply cuts and a reported output halt at the world’s biggest offshore field overshadowed renewed concern over the U.S.-China trade war.Futures in New York were steady Friday, and are up 3.3 percent for the week. Russia said it would accelerate output cuts agreed to in a deal with the OPEC+ coalition, while Saudi Arabia stopped production at the Sa...
Tags: Travel, New York, Saudi Arabia, China, Russia, Opec, Bloomberg, Beijing, Rupert Neil Bumfrey, Safaniyah, Energy Intelligence Group


Saudi Aramco May Raise Up to $15 Billion in Debut Foreign Bond - Bloomberg

Saudi Aramco May Raise Up to $15 Billion in Debut Foreign Bond - Bloomberg:Saudi Aramco’s widely anticipated international bond debut may raise as much as $15 billion and attract new investors to the oil-rich Gulf region, which was just added to an emerging markets index.The world’s biggest oil producer may sell the bonds in the first half of the year, and picked five banks to raise the cash it needs for its planned acquisition of petrochemicals giant Saudi Basic Industries Corp. Aramco could ra...
Tags: Travel, Bloomberg, Gulf, Saudi Aramco, Khalid al Falih, Rupert Neil Bumfrey, Saudi Energy, Saudi Basic Industries Corp Aramco


#AbuDhabi Islamic Bank Said to Weigh Merger Amid M&A Wave - Bloomberg

Abu Dhabi Islamic Bank Said to Weigh Merger Amid M&A Wave - Bloomberg:Abu Dhabi Islamic Bank PJSC is weighing strategic options for its business, including a potential merger, according to people with knowledge of the matter.The United Arab Emirates’ second-biggest Islamic lender is in early talks with financial advisers about measures such as combining with a larger entity or buying a smaller institution, said the people, asking not to be identified as the discussions are private.Abu Dhabi Isla...
Tags: Travel, Bloomberg, United Arab Emirates, Rupert Neil Bumfrey, Abu Dhabi Islamic Bank, Abu Dhabi Islamic Bank PJSC, AbuDhabi Islamic Bank Said, Abu Dhabi Islamic Bank Said


Saudis Say EU 'High Risk' Money Laundering List Is Not Final - Bloomberg

Saudis Say EU 'High Risk' Money Laundering List Is Not Final - Bloomberg:Saudi Arabia sought to downplay the impact of the European Commission’s decision to include the kingdom in a black list of 23 countries posing higher risks of money laundering and terrorist financing.Finance Minister Mohammed Al-Jadaan, in a statement carried by the official Saudi Press Agency, pointed out that the decision isn’t final, and must first be approved by the European Parliament before taking effect.“Saudi Arabia...
Tags: Travel, Saudi Arabia, Eu, Bloomberg, European Commission, European Parliament, Saudi Press Agency, Rupert Neil Bumfrey, Mohammed al Jadaan, Al Jadaan


The Oil Crash Is Over, But Debt Is Still Piling Up in the Gulf - Bloomberg

The Oil Crash Is Over, But Debt Is Still Piling Up in the Gulf - Bloomberg:The oil crash came and went but the debt pile it left across the Gulf is still growing, leaving the region’s energy-dependent economies more vulnerable next time a crisis strikes. All but debt-free before crude prices nosedived in 2014, many Gulf governments tried to borrow their way through while making only cautious and halting efforts to cut spending and diversify their economies. Meanwhile, a Saudi-led blockade of Qat...
Tags: Travel, Qatar, Bloomberg, Gulf, Gulf Cooperation Council, Rupert Neil Bumfrey, Gulf Bloomberg, Ziad Daoud


Oil Rises as Saudi, Venezuela Supply Cuts Eclipse Boom in U.S. - Bloomberg

Oil Rises as Saudi, Venezuela Supply Cuts Eclipse Boom in U.S. - Bloomberg:Oil climbed for a second day as dwindling shipments from two of the world’s biggest crude exporters eclipsed another big jump in U.S. supplies.Futures in New York closed up 1.5 percent, reaching the highest point in a week. The rally came as the International Energy Agency warned that turmoil in Venezuela could disrupt global flows of heavy crude and after Saudi Arabia said it would extend its own cuts. A U.S. Energy Depa...
Tags: Travel, New York, Saudi Arabia, Bloomberg, Chicago, Venezuela, International Energy Agency, U S Energy Department, Rupert Neil Bumfrey, Phil Streible


PCP Capital’s Staveley Likes Mining, Hotels in Middle East – Bloomberg

PCP Capital’s Staveley Likes Mining, Hotels in Middle East – Bloomberg:Amanda Staveley, founder and chief executive officer at PCP Capital Partners, discusses investment themes she’s seeing a the Milken Institute MENA summit, investment appetite for Saudi Arabian assets, industries that will attract capital into the region, how they’ve prepared for Brexit, where she’s seeing opportunity in the U.K. and foreign direct investment into Saudi Arabia. She speaks on “Bloomberg Markets: European Open.”...
Tags: Travel, Saudi Arabia, Bloomberg, Middle East, Brexit, Amanda Staveley, Rupert Neil Bumfrey, PCP Capital Partners, Milken Institute MENA, Staveley Likes Mining Hotels, PCP Capital


A Class of Funds in Saudi Arabia Is Almost Extinct as IPOs Fade - Bloomberg

A Class of Funds in Saudi Arabia Is Almost Extinct as IPOs Fade - Bloomberg:Betting on initial public offerings in Saudi Arabia in the past few years has proven to be a bad idea.Not too long ago, funds focused on buying IPO stocks boomed in the kingdom as regulators implemented reforms aiming at increasing institutional participation in the Arab world’s biggest equities market. In 2015 alone, 16 such pools were created, with total assets approaching 4.9 billion riyals ($1.3 billion). Most of the...
Tags: Travel, Saudi Arabia, Ipo, Bloomberg, Rupert Neil Bumfrey


Oil Rises as Saudis Deepen Cuts, Trump May Extend Trade Deadline - Bloomberg

Oil Rises as Saudis Deepen Cuts, Trump May Extend Trade Deadline - Bloomberg:Oil rebounded from a two-week low Tuesday as Saudi Arabia pledged to deepen production cuts and U.S. President Donald Trump said he could extend a deadline for new tariffs on China.Futures closed 1.3 percent higher in New York after Saudi Energy Minister Khalid Al-Falih told the Financial Times that the kingdom will continue to curb output more than required by a December deal among top producers. Meanwhile, OPEC’s secr...
Tags: Travel, New York, Saudi Arabia, China, Opec, Bloomberg, Donald Trump, Financial Times, Khalid al Falih, Rupert Neil Bumfrey, Saudi Energy, PVM Oil Associates Ltd


Deutsche Bank Seeks to Rebuild in Mideast After Cost Cutting - Bloomberg

Deutsche Bank Seeks to Rebuild in Mideast After Cost Cutting - Bloomberg:Deutsche Bank AG aims to rebuild in the Middle East after years of cost cutting and has hired executives to help win debt and advisory deals.“We have pivoted from a pure cost-control focus in 2018 to a controlled, disciplined growth phase in 2019,” Jamal Al Kishi, chief executive officer of the Middle East and Africa for the Frankfurt-based lender, said in an interview. “This year will be a better one in terms of both reven...
Tags: Travel, Africa, Bloomberg, Frankfurt, Pakistan, Middle East, Deutsche Bank, Doha, North Africa, Mideast, United Arab Emirates Oman, Deutsche Bank AG, Standard Chartered Plc, Rupert Neil Bumfrey, QInvest LLC, Jamal Al Kishi


Oil Near $52 After Worst Week Since December on Growth Concerns - Bloomberg

Oil Near $52 After Worst Week Since December on Growth Concerns - Bloomberg:Oil slipped again, trading near $52 a barrel in New York after mounting concerns about the health of the global economy triggered the sharpest weekly price drop since December.Futures retreated 0.5 percent in New York, following a decline of 4.6 percent last week. U.S. negotiators will resume talks in Beijing before new tariffs kick in on Chinese goods next month, seeking to end a trade dispute that’s weighing on a globa...
Tags: Travel, New York, Bloomberg, Beijing, West Texas Intermediate, Organization of Petroleum Exporting Countries, Europe Asia, Rupert Neil Bumfrey


UBS Sees $121 Billion of EM Flows Amid `Seismic' Index Shifts - Bloomberg

UBS Sees $121 Billion of EM Flows Amid `Seismic' Index Shifts - Bloomberg:Investors should prepare for unprecedented opportunities in emerging markets over the next year as new entrants including Saudi Arabia and China’s domestic shares are added to global indexes in what UBS Group AG calls “relatively seismic shifts.” The world’s largest index providers such as London Stock Exchange Group Plc unit FTSE Russell, MSCI Inc., and S&P Dow Jones Indices are due to review a series of indexes to take o...
Tags: Travel, Saudi Arabia, China, Bloomberg, Asia Pacific, Ubs, UBS Group AG, Rupert Neil Bumfrey, London Stock Exchange Group Plc, FTSE Russell MSCI Inc, Saudi Arabia Argentina China, Kuwait David Rabinowitz UBS


#Egypt Dangles Incentives to Attract More Oil and Gas Investors - Bloomberg

Egypt Dangles Incentives to Attract More Oil and Gas Investors - Bloomberg:Egypt is finalizing details of a new type of oil and gas contract to attract even more foreign investment than the $10 billion already coming into its energy industry this year.The contract will provide investors with incentives to explore for fossil fuels in undeveloped areas, Egypt’s oil minister Tarek El-Molla said in an interview. He didn’t provide details of the changes to the contract. “We’re improving the cost-reco...
Tags: Travel, Bloomberg, Egypt, Red Sea, Rupert Neil Bumfrey, Tarek El Molla, El Molla



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