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#UAE Federal Bank to Sell Bond Following Passage of Debt Law - Bloomberg

U.A.E. Federal Bank to Sell Bond Following Passage of Debt Law - Bloomberg:A federal lender in the United Arab Emirates will be the first to utilize the country’s newly effective debt law by selling its first bond later this month, according to a senior government official.Emirates Development Bank, a state-owned institution that provides financing to citizens and small and medium-sized enterprises, plans a $750 million bond sale in February, its first debt issuance since the institution started...
Tags: Travel, United Arab Emirates, Dubai, Bloomberg TV, Rupert Neil Bumfrey, Al Khoori, Younis Al Khoori, Emirates Development Bank, U A E Ministry of Finance


#Bahrain to Focus on `Stringent Cost Controls' to Balance Budget - Bloomberg

Bahrain to Focus on `Stringent Cost Controls' to Balance Budget - Bloomberg:Bahrain, one of the oil-rich Gulf’s most vulnerable economies, will focus on “stringent cost controls” as it seeks cut its budget deficit and reduce interest costs while using investment to stimulate growth, the country’s finance minister said.The government trimmed the deficit by 35 percent last year as part of a plan to balance the budget by 2022, said Sheikh Salman bin Khalifa Al-Khalifa, minister of finance and natio...
Tags: Travel, Saudi Arabia, United Arab Emirates, Dubai, Bahrain, Gulf, Salman, Bloomberg TV, Rupert Neil Bumfrey, Balance Budget Bloomberg, Salman bin Khalifa Al Khalifa


Damac May Invest Up to $1.3 Billion in London Properties - Bloomberg

Damac May Invest Up to $1.3 Billion in London Properties - Bloomberg:#Dubai’s Damac Properties PJSC plans to take advantage of the weak pound to invest as much as 1 billion pounds ($1.3 billion) in London’s real estate market.Chairman Hussain Sajwani said the Dubai-based property developer is looking at deals with values from 500 million pounds to 1 billion pounds in central London. Even if the U.K. left the European Union without a trade deal, which some analysts predict would result in sharp d...
Tags: Travel, London, Bloomberg, European Union, Davos, Dubai, World Economic Forum, U K, Bloomberg TV, Rupert Neil Bumfrey, Damac, Hussain Sajwani, Sajwani, Damac Properties PJSC


Two Big Producers Just Called the Bottom on Oil: $60 a Barrel - Bloomberg

Two Big Producers Just Called the Bottom on Oil: $60 a Barrel - Bloomberg:Italy’s top oil producer and Oman’s energy minister predict the latest oil rebound will stick.Prices are up more than 20 percent since hitting an almost two-year low in December, enough to alter OPEC+ rhetoric from reassuring investors that it will cut output to taking credit for the rebound, and in the case of Oman, forecasting where oil will trade for the year.Oman Oil Minister Mohammed Al-Rumhi told Bloomberg TV that th...
Tags: Travel, Russia, Opec, Bloomberg, Italy, Oman, Organization of Petroleum Exporting Countries, Bloomberg TV, Claudio Descalzi, Rupert Neil Bumfrey, Eni SpA, Barrel Bloomberg, Mohammed Al Rumhi


Saudi Arabia Targets $32 Billion of Bond Sales to Bridge Deficit - Bloomberg

Saudi Arabia Targets $32 Billion of Bond Sales to Bridge Deficit - Bloomberg:Saudi Arabia intends to issue around 120 billion riyals ($32 billion) of bonds next year to help finance its deficit, with plans to tap international markets in the first half, Finance Minister Mohammed Al-Jadaan said.The kingdom is considering international bonds in dollars and other currencies, Al-Jadaan told Bloomberg TV in Riyadh on Wednesday. The exact timing of the issuances will depend on market conditions. The m...
Tags: Travel, Asia, Europe, Saudi Arabia, Bloomberg, Riyadh, Bloomberg TV, Rupert Neil Bumfrey, Mohammed al Jadaan, Al Jadaan


Now Is the Time to Enter Dubai Property Market, Kanoo Group Says - Bloomberg

Now Is the Time to Enter Dubai Property Market, Kanoo Group Says - Bloomberg:The downturn in Dubai’s property market is coming to an end, making it a good time to invest, the head of a Gulf family conglomerate said.Real estate prices are stable and in some cases are rising, Mishal Kanoo, chairman of Bahrain-based Kanoo Group, said in a Bloomberg TV interview.“When people perceive something to be low, this is the ideal time to come in,” Kanoo said. “We are at the beginning of an upward cycle, whi...
Tags: Travel, Dubai, Bahrain, Gulf, Bloomberg TV, Rupert Neil Bumfrey, Mishal Kanoo, Kanoo Group, Kanoo


Eni to Develop Abu Dhabi Gas Fields as Emirate Targets Exports - Bloomberg

Eni to Develop Abu Dhabi Gas Fields as Emirate Targets Exports - Bloomberg:Eni SpA won rights to develop major natural gas fields in Abu Dhabi, the company’s chief executive officer said, a deal that could help the Middle Eastern emirate become a net exporter of the fuel.Rome-based Eni expects to achieve daily production of 1.5 billion cubic feet of gas and 150,000 barrels of oil at an offshore block that includes the Hail and Ghasha deposits, CEO Claudio Descalzi said in a Bloomberg TV intervie...
Tags: Travel, Bloomberg, Rome, Abu Dhabi, Eni, Bloomberg TV, Claudio Descalzi, ADNOC, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Eni SpA, Descalzi, Abu Dhabi Investment, Develop Abu Dhabi Gas Fields


Travel News: November 13, 2018

As Tourism Grows, Airlines Continue to Add Flights in Quintana Roo Travel Pulse Cancun is Mexico’s hub for international tourism and it’s offering even better connections. The Quintana Roo Tourism Board announced that its global air connectivity continues to grow by leaps and bounds. Both new direct international flights to Cancun International Airport as well as the expansion of existing routes to the region are pushing growth in the region.   Brunch with a drag queen: Virgin Voyages’ unique d...
Tags: Travel, New York, Mexico, Egypt, North America, AAA, News And Deals, Joan Jett, Bloomberg TV, Cancun International Airport, Virgin Voyages, Rania Al Mashat, Quintana Roo Tourism Board, Scarlet Lady, Quintana Roo Travel Pulse Cancun


Emirates and FlyDubai Are Now Best Buddies - Bloomberg

Emirates and FlyDubai Are Now Best Buddies - Bloomberg:When asked two years ago whether his Emirates airline and discount specialist FlyDubai would join forces, Tim Clark gave a withering look.If ordered to do so by his bosses in Dubai then he would, Clark said, while making it abundantly clear that the process would be a painful one. Fast forward to the present day and the airlines are not just sister companies but partners -- sharing more routes, schedules and costs than ever before.What’s mor...
Tags: Travel, Tim Clark, Dubai, Clark, Bloomberg TV, Rupert Neil Bumfrey, Best Buddies Bloomberg


Doha Bank leaves worst provisions behind as profit tops estimate

Doha Bank leaves worst provisions behind as profit tops estimate:Doha Bank, whose quarterly profit beat estimates, has left the worst of bad loans behind as it seeks to scale up investments, its chief executive officer has said.“Now we are back to normal and we have a programmed  approach to make sure we mapped enterprise risk and market risk,” Dr R Seetharaman told Bloomberg TV. “We are on target in terms of sustainable performance yet again.”The Qatari lender’s third-quarter profit of $73mn to...
Tags: Travel, Bloomberg TV, Doha Bank, Rupert Neil Bumfrey, Seetharaman, R Seetharaman


Qatar's Battered Tourism Sector Will Need Three Years to Recover - Bloomberg

Qatar's Battered Tourism Sector Will Need Three Years to Recover - Bloomberg:Qatar’s tourism industry will need three years to recover from the loss of tourists from Saudi Arabia and other Gulf states after the gas-rich country was boycotted by its neighbors in June 2017.The host of the 2022 World Cup plans to add a further 17,000 hotel rooms to the 26,000 it already has to prepare for the soccer tournament, a target that’s putting pressure on room rates as visitor numbers decline, Hassan Abdulr...
Tags: Travel, Saudi Arabia, Qatar, Doha, Gulf, Bloomberg TV, Rupert Neil Bumfrey, Al Ibrahim, Qatar Tourism Authority, Recover Bloomberg, Hassan Abdulrahman Al Ibrahim


Dubai Malls Operator Revenue Climbs as Expansion Offsets VAT - Bloomberg

Dubai Malls Operator Revenue Climbs as Expansion Offsets VAT - Bloomberg:Majid Al Futtaim Holding LLC, the Dubai-based conglomerate which operates Carrefour SA stores in the Middle East, posted a 13 percent increase in revenue during the first half, as the company’s regional expansion helped weather the impact of value-added taxation at home.Sales climbed to 17.8 billion dirhams ($4.85 billion) from a year earlier despite “adverse market conditions,” Chief Executive Officer Alain Bejjani told Bl...
Tags: Travel, Saudi Arabia, Bloomberg, Egypt, Middle East, Dubai, Oman, Kenya, Bloomberg TV, Carrefour, Carrefour SA, Rupert Neil Bumfrey, Majid Al Futtaim Holding LLC, Egypt Lebanon, Alain Bejjani, Dubai Malls Operator Revenue Climbs


The Worst May Be Over for the Saudi Economy - Bloomberg

The Worst May Be Over for the Saudi Economy - Bloomberg:Saudi Arabia’s economy is starting to emerge from the worst slowdown since the global financial crisis, if only due to rebounding oil prices and higher public spending. Gross domestic product grew 1.2 percent in the first three months of 2018 compared with a year ago, the first expansion in five quarters, according to data released on Sunday. The non-oil economy grew 1.6 percent from 1.3 percent in the previous quarter, and analysts said th...
Tags: Travel, Saudi Arabia, Bloomberg, Dubai, Bloomberg TV, EFG Hermes, Rupert Neil Bumfrey, Mohamad Al Hajj


Qatar Leans on Its Ties With Iran, Iraq to Attract Foreign Firms - Bloomberg

Qatar Leans on Its Ties With Iran, Iraq to Attract Foreign Firms - Bloomberg:"Qatar’s financial hub plans to use its deepening political and economic ties with Turkey, Iraq and Iran to attract foreign companies seeking business with those countries. Yousuf Al Jaida, chief executive officer of the Qatar Financial Centre Authority, told Bloomberg TV that the logistics, political alliances and tax agreements makes Qatar an attractive “hub” to serve those countries, as well as Oman, Kuwait and Pakis...
Tags: Travel, Qatar, Bloomberg, Iran, Pakistan, Turkey Iraq, Bloomberg TV, Iran Iraq, Rupert Neil Bumfrey, Yousuf al Jaida, Qatar Financial Centre Authority, Oman Kuwait


U.A.E. Says Oil Cuts Removed ‘85% of the Problem’ of Oversupply - Bloomberg

U.A.E. Says Oil Cuts Removed ‘85% of the Problem’ of Oversupply - Bloomberg:"The global deal to rein in oil output has removed “85 percent of the problem” of oversupply, and OPEC and allied producers are seeking ways to cooperate after the agreement ends, according to United Arab Emirates Energy Minister Suhail Al Mazrouei.The world economy is benefiting from the cuts, he said at a Bloomberg Businessweek Middle East conference in Dubai. Mazrouei, who also serves this year as president of the Org...
Tags: Travel, Opec, Dubai, Organization of Petroleum Exporting Countries, Bloomberg TV, United Arab Emirates Energy, Suhail Al Mazrouei, Rupert Neil Bumfrey, Al Mazrouei, Oversupply Bloomberg, Bloomberg Businessweek Middle East, Dubai Mazrouei


The Builder of One of the World's Largest Airports Revives IPO - Bloomberg

The Builder of One of the World's Largest Airports Revives IPO - Bloomberg:"Limak Investments, which is part of a group building Istanbul’s new six-runway airport, is considering an initial public offering later this year or next, rekindling a plan it shelved in 2011 after equity markets tumbled."We are looking for the right window to move forward," Chairwoman Ebru Özdemir said in an interview with Bloomberg TV in Kuwait. "All our companies are ready. Our cement group is the second-biggest cemen...
Tags: Travel, Russia, Bloomberg, Turkey, Istanbul, Kuwait, Bloomberg TV, Rupert Neil Bumfrey, IPO Bloomberg, Limak Investments, Ebru Özdemir, Limak, Kosovo Senegal


Saudi Prince Alwaleed reached secret agreement with govt -BBG TV | ZAWYA MENA Edition

Saudi Prince Alwaleed reached secret agreement with govt -BBG TV | ZAWYA MENA Edition:"Saudi Prince Alwaleed bin Talal, the chairman of Kingdom Holding who spent nearly three months in detention in the kingdom's anti-corruption campaign, told Bloomberg TV he had reached an agreement with the government for his release. The prince declined to disclose the details of his "confirmed understanding" with authorities in the interview, which aired on Tuesday, but said it was easy to verify that he stil...
Tags: Travel, Saudi Arabia, Alwaleed Bin Talal, Bloomberg TV, Alwaleed, Rupert Neil Bumfrey


Total's Pouyanne Gambles on Middle East Oil as Rivals Favor U.S. - Bloomberg

Total's Pouyanne Gambles on Middle East Oil as Rivals Favor U.S. - Bloomberg:"Patrick Pouyanne, the pugnacious boss of Total SA, sees risks differently.The French oil giant became the first Western major to sign a deal with Iran following the end of sanctions, has added projects in Abu Dhabi and Qatar and Pouyanne said last week’s $450 million acquisition in Libya is one of his “best deals ever.” He is expanding in the region even as some of his biggest rivals focus on politically safer U.S. sha...
Tags: Travel, Qatar, Bloomberg, Iran, Libya, Houston, Abu Dhabi, Bloomberg TV, Rupert Neil Bumfrey, Patrick Pouyanne, Pouyanne, Pouyanne Gambles, Middle East Oil


Kuwait Stock Exchange Plans Share Sale as Early as This Year - Bloomberg

Kuwait Stock Exchange Plans Share Sale as Early as This Year - Bloomberg:"Kuwait, which was classified as an emerging market by index provider FTSE Russell in September, plans to sell a stake in its stock exchange as early as this year. The Capital Markets Authority is conducting studies for the initial public offering through the end of April, Vice Chairman Mishaal Al-Usaimi told Bloomberg TV. “From that we will have a very clear timeline taking us to the IPO, but we are hopeful that we will co...
Tags: Travel, Saudi Arabia, Ipo, Bloomberg, Kuwait, Gulf Cooperation Council, Bloomberg TV, Rupert Neil Bumfrey, Capital Markets Authority, FTSE Russell, Mishaal Al Usaimi, Dubai Financial Market PJSC, Al Usaimi


Abu Dhabi's Tabreed Seeks Assets From Gulf to Egypt, CEO Says - Bloomberg

Abu Dhabi's Tabreed Seeks Assets From Gulf to Egypt, CEO Says - Bloomberg:"National Central Cooling Co. plans to acquire assets in markets like Saudi Arabia and Egypt starting this year as the Abu Dhabi-based company seeks to expand. “We’re always keen on acquisitions, and Saudi Arabia is also a potential market we’re looking at,” Chief Executive Officer Jasim Hussain Thabet said in a Bloomberg TV interview. “We’d potentially be looking at markets in North Africa and India.” The company, also kn...
Tags: Travel, Saudi Arabia, India, Bloomberg, Egypt, Abu Dhabi, Gulf, North Africa, Bloomberg TV, Rupert Neil Bumfrey, National Central Cooling Co, Jasim Hussain Thabet, Tabreed, Thabat


Qatar Economy Can Survive `Forever' Under Embargo, Minister Says - Bloomberg

Qatar Economy Can Survive `Forever' Under Embargo, Minister Says - Bloomberg:"Qatar’s economy performed better than expected last year and required “minimal” government support to blunt the effects of a trade and diplomatic embargo by Saudi Arabia and three other Arab countries, a minister said. There are no signs of a resolution to the crisis, Sheikh Ahmed Bin Jassim Bin Mohammed Al Thani, Qatar’s minister of economy and commerce, told Bloomberg TV in an interview in Davos. Government support f...
Tags: Travel, Saudi Arabia, Qatar, Bloomberg, Ahmed, Bloomberg TV, Rupert Neil Bumfrey, Ahmed Bin Jassim Bin Mohammed Al Thani Qatar


Diamond Looks to Work With Saudi Wealth Fund as Kingdom Opens Up - Bloomberg

Diamond Looks to Work With Saudi Wealth Fund as Kingdom Opens Up - Bloomberg:"Bob Diamond’s Atlas Merchant Capital is weighing investment opportunities in Saudi Arabia, including working with the kingdom’s wealth fund, as the country seeks to transform its economy.“Saudi Arabia as a domestic financial services industry has become investible again,” Diamond said in an interview with Bloomberg TV on Wednesday. “One most striking thing to me is the opportunity to be an investor in Saudi Arabia. Our...
Tags: Travel, Saudi Arabia, Bloomberg, Bob Diamond, Bloomberg TV, Atlas Merchant Capital, Rupert Neil Bumfrey


Abu Dhabi Investor Targets U.S. Tech Spending, Saudi Deals - Bloomberg

Abu Dhabi Investor Targets U.S. Tech Spending, Saudi Deals - Bloomberg:"Abu Dhabi’s government-owned development fund is betting on U.S. technology in a multi-billion dollar spending plan that will see it partnering with Saudi Arabia and competing against other oil-rich neighbors like Qatar.Mubadala Investment Co. wants to expand investments in technology companies in the U.S. after opening a Silicon Valley office last week, Chief Executive Officer Khaldoon Al Mubarak said in an interview with B...
Tags: Travel, Saudi Arabia, San Francisco, Silicon Valley, Abu Dhabi, Riyadh, Bloomberg TV, Khaldoon Al Mubarak, Al Mubarak, Rupert Neil Bumfrey, Mubadala, Qatar Mubadala Investment Co


London Stock Exchange CEO Rolet Fires Back at Aramco IPO Critics - Bloomberg

London Stock Exchange CEO Rolet Fires Back at Aramco IPO Critics - Bloomberg:"London Stock Exchange Group Plc’s Xavier Rolet hit back at criticism that listing rules were bent to pave the way for one of the world’s largest initial public offerings.The exchange went on a charm offensive after Saudi officials said they are looking to list as much as 5 percent of Aramco in Riyadh plus one or two foreign exchanges. But the 200-member U.K. Investment Association, which represents funds managing more ...
Tags: Travel, London Stock Exchange, Riyadh, Aramco, Saudi Aramco, U K, Bloomberg TV, Rupert Neil Bumfrey, Xavier Rolet, Rolet, London Stock Exchange Group Plc, Aramco IPO Critics Bloomberg, U K Investment Association


It’ll take oil above $50 for shale boom, oil sands to pay off | GulfNews.com

It’ll take oil above $50 for shale boom, oil sands to pay off | GulfNews.com:"Shale drillers and oil sands producers have posted some healthy profits so far this year, but it’ll take oil consistently above $50 (Dh183.64) a barrel for their investments to pay off in the long run.That’s the conclusion of a Moody’s Investors Service study of 37 exploration and production companies in the US and Canada released on Thursday. It’s also why legendary hedge fund manager Jim Chanos, who’s shorting shale ...
Tags: Travel, US, Canada, Continental Resources Inc, Bloomberg TV, Jim Chanos, Scarlet Fu, Rupert Neil Bumfrey, Chanos, Moody 's Investors Service, Julia Chatterley Joe Weisenthal


FCA’s Bailey Says Regulators Eager to Solve MiFID Research Snag - Bloomberg

FCA’s Bailey Says Regulators Eager to Solve MiFID Research Snag - Bloomberg:"Regulators are working to find a solution for asset managers and banks that will be stuck between U.S. and European Union rule books when MiFID II takes effect in January, Andrew Bailey, the U.K. Financial Conduct Authority’s chief executive officer, said in a Bloomberg TV interview.Bailey said FCA representatives attended a meeting with the 40 biggest asset managers and banks that was aimed at seeking clarity on the fi...
Tags: Travel, European Union, Fca, Bailey, Andrew Bailey, Bloomberg TV, Rupert Neil Bumfrey, U K Financial Conduct Authority, Solve MiFID Research Snag Bloomberg


Doha Bank CEO Says in Talks With Foreign Lenders to Raise Debt - Bloomberg

Doha Bank CEO Says in Talks With Foreign Lenders to Raise Debt - Bloomberg:"Doha Bank QSC is talking to foreign lenders about the possibility of raising long-term funding either through a private placement or public debt sale, according to Chief Executive Officer Raghavan Seetharaman. The bank plans to raise debt after completing a 1.3 billion riyal ($352.9 million) rights offer earlier this year, Seetharaman said in an interview with Bloomberg TV on Monday, without disclosing how much more it c...
Tags: Travel, Asia, Europe, Bloomberg TV, Doha Bank, Rupert Neil Bumfrey, Doha Bank QSC, Raise Debt Bloomberg, Seetharaman


Qatar's Biggest Bank Turns to Asia to Offset Saudi-Led Sanctions - Bloomberg

Qatar's Biggest Bank Turns to Asia to Offset Saudi-Led Sanctions - Bloomberg:"Qatar National Bank QPSC’s expansion into Asia is helping the lender offset the impact of the ongoing Saudi-led campaign to isolate the gas-rich Arab state, its chief executive officer said. The shares rose. The Middle East’s biggest bank by assets aims to cut the income generated from its domestic market to 50 percent by 2020 from about 63 percent currently, Ali al-Kuwari said in a Bloomberg TV interview, his first si...
Tags: Travel, Asia, Hong Kong, China, Qatar, Middle East, Bloomberg TV, Rupert Neil Bumfrey, Ali Al Kuwari, Qatar National Bank QPSC, Sanctions Bloomberg


Billionaire Entrepreneur Seeking Saudi Health-Care Acquisitions - Bloomberg

Billionaire Entrepreneur Seeking Saudi Health-Care Acquisitions - Bloomberg:"NMC Health Plc, the biggest privately owned health-care company in the United Arab Emirates, is looking to buy hospitals and other medical facilities in Saudi Arabia where the government has announced privatization plans as part of efforts to reform the country’s economy. NMC Health, which has a market capital of almost $6 billion, is especially interested in the bidding process for the health-care unit of the Saudi Ara...
Tags: Travel, London, Saudi Arabia, United Arab Emirates, Abu Dhabi, Bloomberg TV, Rupert Neil Bumfrey, Saudi Arabian Airlines, NMC Health, NMC Health Plc, Saudi Health Care Acquisitions Bloomberg, Saudia Bavaguthu Raghuram Shetty


Financial Journalists Mitali Mukherjee and Vivek Law launch MoneyMile

Bloomberg TV’s former editor Vivek Law, CNBC-TV18’s former Markets Editor Mitali Mukherjee and financial planner Surya Bhatia have announced The MoneyMile, a personal finance advisory venture, which will operate online, on TV and do events. Law will be the CEO and Editor-in-chief of the venture. Sumit Sabharwal, founder of MASS Entertainment and Turban Studioz, and has produced several Primetime shows for networks like Discovery, CNN, Bloomberg, National Geographic etc, will be MoneyMile’s four...
Tags: Travel, Personal Finance, TV, News, Media, Law, Internet, Social Media, Mukherjee, Bloomberg TV, Deepak Shenoy, The Money Mile, Mitali Mukherjee, Vivek Law, Surya Bhatia, Sumit Sabharwal



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