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#Saudi shares fall on weak oil; set for weekly loss | Reuters

Saudi shares fall on weak oil; set for weekly loss | Reuters Saudi shares eased in early trade on Thursday and were set for a weekly loss, tracking weaker oil prices, while other Gulf markets rode on euphoria around encouraging coronavirus vaccine developments.Oil prices fell as producers including Saudi Arabia and Russia locked horns over the need to extend record production cuts set in place in the first wave of the COVID-19 pandemic. [O/R]The Organization of the Petroleum Exporting Countries ...
Tags: Travel, Saudi Arabia, Russia, Qatar, Britain, Dubai, Abu Dhabi, Kuwait, Gulf, Reuters, Saudi Aramco, Saudi Basic Industries Corp, Petroleum Exporting Countries OPEC, Qatar National Bank, Rupert Neil Bumfrey, Industries Qatar


#Saudi ends lower on weak oil, others gain on UK vaccine nod | Reuters

Saudi ends lower on weak oil, others gain on UK vaccine nod | Reuters Saudi shares retreated for a second straight session on Wednesday, tracking weaker oil prices, while some markets cheered Britain’s approval of Pfizer’s COVID-19 vaccine, which raised hopes of a faster-than-expected global economic recovery.Britain became the West’s first country to formally endorse a jab it said should reach the most vulnerable people early next week.However, oil prices slipped as the market awaited a pact fr...
Tags: Travel, UK, Opec, Qatar, West, Britain, United States, Dubai, Pfizer, Abu Dhabi, Bahrain, Kuwait, Reuters, Riyad Bank, Qatar National Bank, Rupert Neil Bumfrey


#SaudiArabia News: Life After Aramco Includes Plenty More IPOs for Saudi Arabia - Bloomberg

Saudi Arabia News: Aramco IPO Opens Doors for More Listings on Tadawul Exchange - Bloomberg One year on from oil giant Saudi Aramco’s record-busting initial public offering in Riyadh, the exchange has continued to enjoy a steady stream of listings. And deals are already lining up for 2021.For years, the twists and turns leading up to Aramco’s listing dominated Saudi Arabia’s IPO market. The decision to float on Riyadh’s Tadawul exchange and to largely forgo international investors sparked concer...
Tags: Travel, Saudi Arabia, Germany, Dubai, Riyadh, Aramco, Saudi Aramco, Tadawul, Rupert Neil Bumfrey, Saudi Arabia Bloomberg, Tarek Fadlallah, Bloomberg That, Nomura Asset Management 's Middle Eastern


#Saudi shares ease, other markets gain after UK's Pfizer-BioNTech vaccine approval | Reuters

Saudi shares ease, other markets gain after UK's Pfizer-BioNTech vaccine approval | Reuters Saudi shares edged down on Wednesday, tracking lower oil, while other Gulf markets were buoyed by encouraging news in the fight against the COVID-19 pandemic as Britain became the first country in the world to approve the Pfizer-BioNTech vaccine rollout.Britain said the vaccine developed by Pfizer and partner BioNTech will be rolled out from early next week, a boost for investors worldwide.Oil prices exte...
Tags: Travel, UK, Saudi Arabia, Opec, Qatar, Britain, United States, Dubai, Pfizer, Abu Dhabi, Bahrain, Kuwait, Gulf, Reuters, Index, Saudi Aramco


#Dubai external trade doubled ten times to $346bln since 2000 | ZAWYA MENA Edition

Dubai external trade doubled ten times to $346bln since 2000 | ZAWYA MENA Edition Dubai non-oil external trade has doubled about ten times between 2000 and 2019 rising from AED143 billion in 2000 to AED1.271 trillion in 2019. In the first half of 2020, Dubai trade made around AED551 bn, according to trade figures released by Dubai Customs on the occasion of the UAE 49th National Day celebrations.The figures reflected the significant role the oldest government department played in developing and ...
Tags: Travel, Dubai, Dubai International Airport, Dubai Customs, Rupert Neil Bumfrey, Customs Centres, Dubai Creek Port Rashid, Jebel Ali Customs Centre With, Al Maktoum Airport Air Cargo Customs


10 Myths About Expat Life in Dubai

Dubai is home to seven million expats. These people hail from diverse backgrounds. However, we can divide them into two broad categories – those from Asia and those from the West. There are some misconceptions and myths in both, east and west, about expat life in Dubai. Here are the top 10 myths about expat […] The post 10 Myths About Expat Life in Dubai appeared first on Dubai Expat Blog.
Tags: Travel, Asia, Dubai, Living in Dubai, Daily Dubai, Expat Life in Dubai


MIDEAST STOCKS-Most log monthly gains on COVID-19 vaccine optimism | Nasdaq

MIDEAST STOCKS-Most log monthly gains on COVID-19 vaccine optimism | Nasdaq Saudi and Dubai shares ended higher on Monday, with most markets recording monthly gains thanks to optimism that the progress in COVID-19 vaccine development would help global economies recover at a quicker pace than initially anticipated.Financial markets worldwide have gained in most sessions after U.S. drugmakers Pfizer PFE.N and Moderna MRNA.O, and Britain's AstraZeneca AZN.L released positive trial data on their vac...
Tags: Travel, Saudi Arabia, Opec, Qatar, Britain, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Emirates NBD, Tasi, Rupert Neil Bumfrey, Pfizer PFE N, First Abu Dhabi Bank, DFMGI


#Dubai builder Arabtec says shareholders ask to reverse decision to liquidate company | Reuters

Dubai builder Arabtec says shareholders ask to reverse decision to liquidate company | Reuters Dubai builder Arabtec Holding is asking shareholders to reverse a decision made in September to proceed with a bankruptcy and liquidation filing, according to a bourse filing on Monday.Instead, the troubled builder is asking shareholders, scheduled to meet at a general assembly meeting on Monday, to approve the continuity and restructure the company, the filing said.The contracting firm said the reques...
Tags: Travel, Dubai, Reuters, Arabtec, Rupert Neil Bumfrey, Reuters Dubai, Mohammed Ali Yasin, Arabtec Holding, Al Dhabi Capital Ltd


MIDEAST STOCKS-Markets track oil lower ahead of OPEC+ meeting; most set for monthly gains | Nasdaq

MIDEAST STOCKS-Markets track oil lower ahead of OPEC+ meeting; most set for monthly gains | Nasdaq Most major Gulf markets weakened on Monday, tracking lower oil prices ahead of a crucial meeting of producer group Organization of the Petroleum Exporting Countries (OPEC+), but they were set to finish the month higher on hopes of a COVID-19 vaccine.Financial markets worldwide have gained in most sessions over the past couple of weeks as U.S. drugmakers Pfizer Inc PFE.N and Moderna Inc MRNA.O as we...
Tags: Travel, Saudi Arabia, Russia, Opec, Qatar, Britain, Healthcare, Dubai, Abu Dhabi, Gulf, Adi, Tasi, Rupert Neil Bumfrey, QSI, First Abu Dhabi Bank, Pfizer Inc PFE N


Major Gulf markets close mixed, #Dubai ends winning streak | Reuters

Major Gulf markets close mixed, Dubai ends winning streak | Reuters Major Gulf stock markets ended mixed on Sunday with Saudi Arabian shares extending gains for a sixth consecutive day, while Dubai fell after five days of rises.All major Gulf stocks registered gains in the week to Thursday, riding on a rally fuelled by optimism around COVID-19 vaccine developments.Saudi Arabia’s main index was up 0.2% as Dr. Sulaiman Al-Habib Medical Services Group surged 8.7%, its sharpest intra-day rise since ...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Abu Dhabi, Gulf, Reuters, MSCI, Moody, CureVac, Rupert Neil Bumfrey, Emaar Malls, Saudi Electricity, Major Gulf, Emirates Telecommunications Group, Emirates NBD Bank


Mideast stocks: Major Gulf stocks little changed in early trade | Reuters

Mideast stocks: Major Gulf stocks little changed in early trade | Reuters Major Gulf stock markets were steady in early Sunday trading, having gained last week on optimism about COVID-19 vaccines.Saudi Arabia’s index was up 0.3% as Al Rajhi Bank gained 0.3% and Saudi Electricity added 2.1% in its fifth daily rise in six trading days.Moody’s on Wednesday upgraded the utility company’s rating to A1, citing increased government support. The company recently signed an agreement with the government t...
Tags: Travel, Saudi Arabia, Dubai, Abu Dhabi, Reuters, Mideast, Moody, Emaar Properties, CureVac, Qatar Islamic Bank, Rupert Neil Bumfrey, Industries Qatar, Saudi Electricity, Dubai Investments, Aldar Properties, Al Rajhi Bank


#Dubai: Record transactions for ready houses signal strong real-estate recovery | ZAWYA MENA Edition

Dubai: Record transactions for ready houses signal strong real-estate recovery | ZAWYA MENA Edition The demand for ready-to-move-in villas and townhouses in Dubai surged to an all-time high in October. A total of 665 secondary or ready-to-move-in villas/townhouses were transferred during the month, 7.2 percent higher than in September 2020 and more than 500 percent higher than in May 2020, according to data from the Dubai Land Department (DLD).In October 2020, the DLD recorded a total of 3,395 s...
Tags: Travel, Dubai, Dubai Land Department, Rupert Neil Bumfrey, DLD, Mo'asher Dubai, Finder Latifa Ibrahim Ahmed, Real Estate Studies Research Department


#Dubai raises a glass to social changes in the Gulf | Financial Times

Dubai raises a glass to social changes in the Gulf | Financial Times When Patrick went to a media launch for a new smartphone in Dubai, the Gulf’s tourism and commercial hub, the expatriate never imagined that the evening would end in a police station.  After an enthusiastic embrace of the free bar that so often graces such marketing events, a verbal altercation with a taxi driver led to his arrest.  His contrite response to police questioning over his non-existent liquor licence — th...
Tags: Travel, United Arab Emirates, Dubai, Gulf, Patrick, Rupert Neil Bumfrey


Dubai after Covid-19 has changed as we knew it

In January 2020, first Covid-19 case was reported in UAE. Soon after that, the Emirates went into a lockdown. And life, as we knew iti, ceased to continue in Dubai after Covid-19. People could not but accept this change for the sake of their lives. No one could imagine wearing a surgical mask in public […] The post Dubai after Covid-19 has changed as we knew it appeared first on Dubai Expat Blog.
Tags: Travel, Emirates, Dubai, Living in Dubai, Covid19


Mideast Stocks-Major markets log weekly gains on vaccine hopes | ZAWYA MENA Edition

Mideast Stocks-Major markets log weekly gains on vaccine hopes | ZAWYA MENA Edition Abu Dhabi shares ended lower on Thursday but all major Gulf markets managed weekly gains, riding on a rally fuelled by optimism around COVID-19 vaccine developments.Financial markets globally have gained in most sessions over the past couple of weeks as U.S. drugmakers Pfizer Inc and Moderna Inc, and British firm AstraZeneca released positive data on the effectiveness of their vaccine candidates.Investors are opt...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Astrazeneca, Abu Dhabi, Gulf, Pfizer Inc, Air Arabia, Rupert Neil Bumfrey, Dubai Islamic Bank, National Commercial Bank, First Abu Dhabi Bank, Moderna Inc, Qatar Commercial Bank, Sulaiman Al Habib Medical Services Group


#UAE's flydubai starts Dubai-Tel Aviv services after detente | Reuters

UAE's flydubai starts Dubai-Tel Aviv services after detente | Reuters United Arab Emirates airline flydubai started direct passenger flights to Israel on Thursday after the two countries normalised ties in a Washington-brokered deal.Israel and the UAE agreed in August to establish diplomatic relations, paving the way for economic cooperation. Bahrain and Sudan have also agreed to forge formal ties with Israel in deals brokered by the Trump administration and promoted as a strategic Middle East s...
Tags: Travel, Washington, Israel, Tel Aviv, Middle East, Dubai, Sudan, Bahrain, Uae, Trump, Reuters, Reuters United Arab Emirates, Rupert Neil Bumfrey, Dubai Tel Aviv, Iran Dubai


MIDEAST STOCKS- #Saudi leads losses in morning trade | Nasdaq

Most major Gulf markets struggled in the final trading session of the week on Thursday, as a rally fuelled by optimism around COVID-19 vaccine developments lost steam.Financial markets globally have gained in most sessions over the past couple of weeks as U.S. drugmakers Pfizer Inc PFE.N and Moderna Inc MRNA.O, and British firm AstraZeneca AZN.L released positive data on the effectiveness of their vaccine candidates.Investors are optimistic that progress made on the vaccine front would help econ...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Abu Dhabi, Gulf, Adi, Tasi, Rupert Neil Bumfrey, Al Rajhi Bank, First Abu Dhabi Bank, Emirates NBD ENBD, Pfizer Inc PFE N, Emaar Properties EMAR DU, Emirates Telecom Etisalat, Moderna Inc


#Dubai real estate fund ENBD REIT faces 'significant pressure'; asset value falls | ZAWYA MENA Edition

Dubai real estate fund ENBD REIT faces 'significant pressure'; asset value falls | ZAWYA MENA Edition Dubai’s ENBD REIT, a Shariah-compliant real estate investment trust, managed by the asset-management arm of Emirates NBD, has seen a further deterioration in the value of its portfolio due to the slowdown triggered by the coronavirus.Its net asset value (NAV) as of September 30, 2020 stood at $198 million, down by $32 million from the $230 million recorded in March 31. The fund’s property portfo...
Tags: Travel, Dubai, Uae, Emirates NBD, Rupert Neil Bumfrey, ENBD, MENA Edition Dubai, Oryx House


#AbuDhabi to Expand Media Hub in Effort to Diversify Economy - Bloomberg

Abu Dhabi to Expand Media Hub in Effort to Diversify Economy - Bloomberg Abu Dhabi’s media free zone twofour54, home to the regional headquarters of Ubisoft Entertainment SA and CNN, is aiming to triple the size of the emirate’s media industry over the next decade, as part of ongoing efforts to diversify the oil-dependent economy.“Abu Dhabi is in the process of transforming itself from a resource-based economy to a knowledge-based economy,” twofour54’s Chief Executive Officer Michael Garin said ...
Tags: Travel, Cnn, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Rupert Neil Bumfrey, Garin, Michael Garin, Ubisoft Entertainment SA, Bloomberg Abu Dhabi, Expand Media Hub, Diversify Economy Bloomberg, Yas Creative Hub


MIDEAST STOCKS-Major Gulf shares extend gains on upbeat global outlook | Nasdaq

Major Gulf markets rallied on Wednesday as investors cheered the prospects of a faster-than-expected global economic recovery, driven mainly by encouraging news on the COVID-19 vaccine development front.Financial markets worldwide have gained in the past couple of weeks as U.S. drugmakers Pfizer Inc PFE.N and Moderna Inc MRNA.O as well as British firm AstraZeneca AZN.L released positive data on the effectiveness of their vaccine candidates.Aiding sentiment, the uncertainty over presidential tran...
Tags: Travel, Qatar, Joe Biden, United States, Dubai, Abu Dhabi, Donald Trump, Gulf, Adi, Tasi, Rupert Neil Bumfrey, Industries Qatar, QSI, National Commercial Bank, Al Rajhi Bank, Pfizer Inc PFE N


MIDEAST STOCKS-Gulf markets rally on upbeat global economic outlook | Nasdaq

MIDEAST STOCKS-Gulf markets rally on upbeat global economic outlook | Nasdaq Most major Gulf markets extended gains on Wednesday as investors cheered prospects of a faster-than-expected global economic recovery, driven mainly by encouraging news on the COVID-19 vaccine development front.Financial markets worldwide have gained in the past couple of weeks as U.S. drugmakers Pfizer Inc PFE.N and Moderna Inc MRNA.O and British firm AstraZeneca AZN.L released positive data on the effectiveness of the...
Tags: Travel, Qatar, Joe Biden, United States, Dubai, Abu Dhabi, Donald Trump, Gulf, Saudi Basic Industries Corp, Tasi, Rupert Neil Bumfrey, QSI, National Commercial Bank, First Abu Dhabi Bank, Pfizer Inc PFE N, Moderna Inc


#Dubai Raises $1.5 Billion From Private Bond Placement - Bloomberg

Dubai Raises $1.5 Billion From Private Bond Placement - Bloomberg Dubai’s government raised $1.5 billion this week by reopening existing debt instruments, data compiled by Bloomberg show.Emirates NBD Capital, a unit of Dubai’s biggest bank, was the sole manager of the transactions on Nov. 23 and 24, according to the data.The transactions:$150 million and $100 million from reopening a September facility of $1 billion {DUGB 3.9 09/09/50 Govt DES }$300 million and $200 million from reopening a Janu...
Tags: Travel, Bloomberg, Dubai, Rupert Neil Bumfrey, Emirates NBD Capital, Bloomberg Dubai, DUGB


Most Middle East markets end higher as investors cheer Biden transition, vaccine progress | Reuters

Most markets end higher as investors cheer Biden transition, vaccine progress | Reuters Most major Gulf markets closed higher on Tuesday, tracking gains on global bourses, helped by a formal transition nod for U.S. President-elect Joe Biden and new coronavirus vaccine developments.U.S. President Donald Trump on Monday gave the head of the General Services Administration the go-ahead to proceed with a transition to a government led by Biden despite plans to continue with legal challenges.Global f...
Tags: Travel, Saudi Arabia, Opec, Qatar, Joe Biden, Middle East, Dubai, General Services Administration, Biden, Abu Dhabi, Yemen, Donald Trump, Jeddah, Gulf, Reuters, Aramco


Americans can now travel to 47 nations for vacation and tourism — here's the list of every open country and how to get there

The US passport has lost its strength significantly during the COVID-19 pandemic and Americans are left with few options on where to travel. ShutterLibrary/Shutterstock; Samantha Lee/Business Insider While many countries are not allowing US travelers during the coronavirus crisis, some nations are open to Americans. The United Kingdom, Caribbean countries, and select international locales are allowing tourists from the US. Many countries require you to show a negative COVID-19 test and air...
Tags: Transportation, BITranspo, Caribbean, Europe, Features, Travel, CT Visual Features, Air Travel, COVID-19, Novel Coronavirus, Coronavirus, Flying, Tourism, Airlines, Aviation, BI Graphics


MIDEAST STOCKS-Most markets rise on Biden transition, vaccine optimism | Nasdaq

MIDEAST STOCKS-Most markets rise on Biden transition, vaccine optimism | Nasdaq Most major Gulf markets tracked broader Asia stocks higher on Tuesday, helped by a formal transition approval for U.S. President-elect Joe Biden and new coronavirus vaccine developments.U.S. President Donald Trump on Monday gave the head of the General Services Administration the go-ahead to proceed with a transition to a government led by Biden despite plans to continue with legal challenges.Saudi Arabia's benchmark...
Tags: Travel, Asia, Saudi Arabia, Russia, Qatar, Joe Biden, Dubai, General Services Administration, Biden, Abu Dhabi, Donald Trump, Gulf, Saudi Basic Industries Corp, Tasi, Rupert Neil Bumfrey, QSI


#Israel's El Al Airlines to fly 14 weekly flights to #Dubai | Reuters

Israel's El Al Airlines to fly 14 weekly flights to Dubai | Reuters El Al Israel Airlines will operate 14 weekly flights from Tel Aviv to Dubai from Dec. 13, it said on Monday, joining a handful of carriers launching routes between Israel and the United Arab Emirates (UAE).Israel and the UAE agreed in September to establish diplomatic relations, breaking a longstanding taboo and paving the way for economic cooperation.Subject to regulatory approvals, Israeli flag carrier El Al plans to operate t...
Tags: Travel, Israel, Tel Aviv, Dubai, Boeing, Uae, Reuters, EL AL, Rupert Neil Bumfrey, El Al Airlines, Reuters El Al Israel Airlines, United Arab Emirates UAE Israel


#UAE Allows Full Foreign Ownership of Firms to Boost Economy - Bloomberg

UAE Allows Full Foreign Ownership of Firms to Boost Economy - Bloomberg The United Arab Emirates abolished the need for companies to have Emirati shareholders, local media reported, in a major shake-up of foreign ownership laws aimed at attracting investment into an economy reeling from the coronavirus and a decline in oil prices.The amendments to the 2015 commercial companies’ law remove key provisions requiring that a company be chaired by an Emirati national and for the board of directors to ...
Tags: Travel, United Arab Emirates, Dubai, Abu Dhabi, Uae, Emirati, Rupert Neil Bumfrey, Tarek Fadlallah, Boost Economy Bloomberg, Nomura Asset Management 's Middle Eastern


#Dubai developer sees surge in property enquiries from Israeli buyers | ZAWYA MENA Edition

Dubai developer sees surge in property enquiries from Israeli buyers | ZAWYA MENA Edition Enquiries for properties in the UAE are pouring in from Israeli buyers following the normalisation of relations between the two countries, according to Ellington Properties.The real-estate developer announced on Monday that it has just signed a deal with international brokerage firm Keller Williams to market its real-estate assets in Dubai to buyers from Israel.“This is a historic moment for us as we focus ...
Tags: Travel, Israel, Dubai, Uae, Keller Williams, Rupert Neil Bumfrey, Paula Wehbeh, Ellington Properties With, Wehbeh


MIDEAST STOCKS-Major markets gain on vaccine optimism; #Saudi eases | Nasdaq

MIDEAST STOCKS-Major markets gain on vaccine optimism; Saudi eases | Nasdaq Most major Gulf markets traded in positive territory on Monday, as further encouraging news on the COVID-19 vaccine front boosted investor sentiment, although Saudi shares bucked the trend in early trade.In the fight against coronavirus infection, UK drugmaker AstraZeneca AZN.L said its vaccine, developed along with the University of Oxford, could be around 90% effective under one dosing regimen.Before AstraZeneca releas...
Tags: Travel, UK, Saudi Arabia, Qatar, Dubai, Astrazeneca, University of Oxford, Abu Dhabi, Gulf, Commercial Bank, Jabal Omar, Rupert Neil Bumfrey, QSI, Savola Group, Emirates NBD ENBD, Emaar Properties EMAR DU


#Qatar leads most Gulf markets higher; Egypt falls | Reuters

Most stock markets in the Middle East ended higher on Sunday, with Qatar’s index leading the gains on a rise in financial shares, while Egypt closed lower.Financial markets globally have been buoyed over the past two weeks by U.S. drugmakers Pfizer and Moderna Inc releasing encouraging news on the effectiveness of their vaccine candidates against the coronavirus.Saudi Arabia’s benchmark index added 0.1%, with Dr Sulaiman Al-Habib Medical Services leaping 5.1% and real estate firm Jabal Omar Deve...
Tags: Travel, Saudi Arabia, Qatar, Egypt, Middle East, United Arab Emirates, Dubai, Pfizer, Gulf, Reuters, Qatar National Bank, Rupert Neil Bumfrey, Industries Qatar, Dubai Islamic Bank, Commercial International Bank, Jabal Omar Development



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