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Posts filtered by tags: Financial Times[x], | Financial Times[x]


 

London insurers extends Persian Gulf threat zone after Fujairah attacks | Financial Times

London insurers extends Persian Gulf threat zone after Fujairah attacks | Financial Times:London’s marine insurance market, which covers the majority of the world’s ships, has upgraded a number of territorial waters in the Persian Gulf to high risk following ship attacks off Fujairah last weekend.The Joint War Committee, which includes representatives of Lloyd’s of London and the International Underwriters Association of London, said waters off Oman, UAE and the Persian Gulf had been added to a ...
Tags: Travel, London, Saudi Arabia, US, Iran, Financial Times, Strait Of Hormuz, Persian Gulf, Lloyd 's of London, Rupert Neil Bumfrey, Oman UAE, Joint War Committee, International Underwriters Association of London


#SaudiArabia woos foreign workers with new residency scheme | Financial Times

Saudi Arabia woos foreign workers with new residency scheme | Financial Times:Saudi Arabia has approved a new residency scheme to attract skilled foreign labour to help implement an economic reform programme aimed at reducing the kingdom’s dependence on oil.The law, which was passed by the consultive Shura Council this month and announced by the cabinet on Tuesday, would offer two types of residencies: one would be permanent while the other could be renewed annually. The government will publish ...
Tags: Travel, Saudi Arabia, Financial Times, Saudi Arabian General Investment Authority, Shura Council, Rupert Neil Bumfrey, Ibrahim Al Omar


Finablr to proceed with London IPO at reduced price | Financial Times

Finablr to proceed with London IPO at reduced price | Financial Times:Payments group Finablr will proceed with a £306m initial public offering in London, a lower deal size than initially anticipated, after a jolt of market volatility and a grim performance by Uber in its Wall Street debut.The owner of Travelex and UAE Exchange will float 175m shares at a price of 175p each, below the 210-260p range previously indicated, according to terms seen by the Financial Times.“This takes into account mark...
Tags: Travel, London, Financial Times, London IPO, UAE Exchange, Travelex, Rupert Neil Bumfrey


#UAE oil tanker attacks - what we know | Financial Times

UAE oil tanker attacks - what we know | Financial Times:Two Saudi tankers were among four vessels 'sabotaged' off a key port in the United Arab Emirates amid rising tensions between the US, its allies and Iran [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, US, Iran, United Arab Emirates, Uae, Financial Times, Rupert Neil Bumfrey


TPG agrees to manage #Abraaj’s $1bn healthcare fund despite fraud cases | Financial Times

TPG agrees to manage Abraaj’s $1bn healthcare fund despite fraud cases | Financial Times:US private equity group TPG has agreed to manage Abraaj’s $1bn healthcare fund despite criminal fraud cases against the collapsed Dubai-based buyout house’s senior executives. TPG Growth, the group’s mid-market buyout arm, said in a statement that it would take over the existing assets of Abraaj’s Growth Markets Health Fund, renaming it The Evercare Health Fund. TPG’s Rise Fund, a global impact investing fun...
Tags: Travel, US, Dubai, Financial Times, Bill Melinda Gates Foundation, Abraaj, TPG, Rupert Neil Bumfrey, Abraaj 's Growth Markets Health Fund, Evercare Health Fund TPG, World Bank 's International Finance Corporation


Norway’s $1tn oil fund rebounds to third best quarterly returns | Financial Times

Norway’s $1tn oil fund rebounds to third best quarterly returns | Financial Times:Norway’s $1.1tn oil fund recorded the third best quarter in its 23-year history as the world’s largest sovereign wealth investor rebounded from a difficult end to last year. The oil fund returned 9.1 per cent in the first quarter — behind the second and third quarters of 2009 — while in krone terms it was the investor’s largest ever increase with NKr738bn ($84bn).Apple, Microsoft and Amazon made the biggest positiv...
Tags: Travel, Amazon, Norway, Equities, Financial Times, Apple Microsoft, Rupert Neil Bumfrey


Donald Trump’s tactics put general on track to be next Iranian president | Financial Times

Donald Trump’s tactics put general on track to be next Iranian president | Financial Times:I should know better than to make a prediction about the Middle East. But here I am, making a prediction. The next president of Iran will be Qasem Soleimani, commander of the overseas arm of the hardline Revolutionary Guard and master of Tehran’s influence across the region. And here’s more: if he’s not president in two years, he will be more powerful still — as the kingmaker deciding on the next supreme l...
Tags: Travel, US, Iran, Middle East, Tehran, Donald Trump, Financial Times, Imf, Revolutionary Guard, Rupert Neil Bumfrey, Soleimani, Qasem Soleimani


Young Arabs say jobs and living costs are their biggest concerns | Financial Times

Young Arabs say jobs and living costs are their biggest concerns | Financial Times:Young Arabs say the rising cost of living and unemployment are the biggest issues facing the Middle East, according to region’s largest survey of youth opinion.Some 56 per cent of respondents cited the cost of living and 45 per cent chose joblessness as their top concern in the 2019 Arab Youth Survey, now in its 11th year.“The mother of all priorities for the region is tackling youth unemployment,” said Jihad Azou...
Tags: Travel, Middle East, Financial Times, Rupert Neil Bumfrey, Jihad Azour International Monetary Fund


#SaudiArabia to open up bond market to retail investors | Financial Times

Saudi Arabia to open up bond market to retail investors | Financial Times:Saudi Arabia is seeking to open up its government bond market to retail investors as part of sweeping reforms intended to develop a savings culture.Officials said last week that the country’s government sukuk, or Islamic bonds, would be sold in chunks of SR1,000 ($267), rather than the typical SR1m, in a move that finance minister Mohammed al-Jadaan said was designed to make it easier for retail investors and investment fu...
Tags: Travel, Saudi Arabia, US, Financial Times, Riyadh, Mohammed bin Salman, Rupert Neil Bumfrey, Mohammed al Jadaan


#Iran’s economy slumps as US sanctions pile on the pain | Financial Times

Iran’s economy slumps as US sanctions pile on the pain | Financial Times:Donald Trump’s sanctions against Iran have triggered a collapse in economic growth, pushing the Islamic republic into a deep recession and lifting inflation towards 40 per cent, according to the IMF.The fund on Monday linked its forecast of a 6 per cent contraction in Iran this year with Mr Trump’s efforts to tighten an economic squeeze on the country.The economic slowdown is stoking popular discontent and heightening polit...
Tags: Travel, US, Iran, Hassan Rouhani, Donald Trump, Financial Times, Imf, Trump, Rupert Neil Bumfrey


Oil extends decline to over 3% after Trump Opec comments | Financial Times

Oil extends decline to over 3% after Trump Opec comments | Financial Times:Oil accelerated its decline to over 3 per cent on Friday after US president Donald Trump said he had called Opec to demand that the cartel brings down prices.“I called up Opec, I said you’ve got to bring them down. You’ve got to bring them down,” Mr Trump told reporters, according to Reuters.Brent crude, the international oil benchmark, fell by $2.32 a barrel — or 3.1 per cent — to $72.08. West Texas Intermediate, the US ...
Tags: Travel, US, Opec, Donald Trump, Financial Times, Trump, Reuters Brent, Rupert Neil Bumfrey, Trump OPEC


Weekly Roundup, Good Friday 19 April 2019

The evolution of the Qantas logo.  One of our favorite airlines and logos.  See article below on “changing the paint job”. Good morningI hope your Good Friday is off to a good start, and your Easter Weekend will be spent most pleasantly, including, for the Christians among our readers, some extra time pondering and being thankful for our salvation through the sacrifice of Jesus.If this was New Zealand, we’d all be on holiday today (and also Monday), but, alas, here in the US, most of us are prob...
Tags: Travel, Amazon, New York, Science, London, Scotland, China, Miscellaneous, Cars, US, Newsletter, Tech, David, Britain, Paris, Italy


Solving Amazon’s Fake Review Problem

1008 reviews, a 4.3 star average rating, and an Amazon Choice product. But our review was strongly negative. Who do you trust? Amazon complains theatrically that it is doing all it can to stop the flood of fake reviews that infest its site, but clearly the most casual of glances shows its feeble attempts to be almost entirely ineffectual.Indeed, its problem is even more wide-ranging that it appears at first glance, because, quite apart from anything else, fake reviews (both positive and negative...
Tags: Travel, Reviews, Amazon, Science, Miscellaneous, Tech, Britain, Ba, Financial Times, Cellphones & Wireless, Don, Amazon Choice, ReviewMeta, Sure Amazon, Solving Amazon


Schlumberger says US shale boom slowing | Financial Times

Schlumberger says US shale boom slowing | Financial Times:Investment in the US shale oil industry continues to fall, production growth is slowing and the balance of spending is shifting to other parts of the world, the oilfield services group Schlumberger has said.Paal Kibsgaard, chief executive, said he “the higher cost of capital, lower borrowing capacity, and investors looking for increased returns” in the US shale industry would mean that exploration and production companies would have to li...
Tags: Travel, US, Financial Times, Schlumberger, Paal Kibsgaard, Rupert Neil Bumfrey


Oil rally gives #SaudiArabia a chance to be steward of stability | Financial Times

Oil rally gives Saudi Arabia a chance to be steward of stability | Financial Times:Is Saudi Arabia a responsible steward of the oil market?Saudi Aramco, the cash-spewing state oil company, might have heralded its arrival at the top table of international finance last week with a glossy bond brochure and a blowout $12bn offering, but in the background the kingdom’s traditional role in the oil market is also under scrutiny.Oil prices have rallied by 30 per cent since the start of this year to move...
Tags: Travel, Saudi Arabia, Financial Times, Rupert Neil Bumfrey


Abraaj senior executives held on US fraud charges | Financial Times

Abraaj senior executives held on US fraud charges | Financial Times:Two senior Abraaj executives have been arrested in relation to US fraud charges that claim they defrauded investors by lying about the financial health of the collapsed Dubai-based private equity group.Arif Naqvi, Abraaj’s founder and chief executive, and Mustafa Abdel-Wadood, a former managing partner at the group, have been charged with securities fraud, wire fraud and conspiracy, according to indictments filed by the US attor...
Tags: Travel, New York, London, US, Dubai, Manhattan, Financial Times, NEW YORK Reuters, Naqvi, Abraaj, Rupert Neil Bumfrey, Mustafa Abdel Wadood, Arif Naqvi Abraaj, Andrea Griswold, Abdel Wadood


How #Uzbekistan plans to take on the world’s oil majors | Financial Times

How Uzbekistan plans to take on the world’s oil majors | Financial Times:Uzbekistan’s state oil and gas company has a bold aim — to become the next Royal Dutch Shell or BP and join the ranks of the world’s energy majors.It is early days but Uzbekneftegaz, which contributes 15 per cent of the country’s gross domestic product, has taken the first steps towards its ambitious goal by gaining the freedom from the government to act as an independent corporate entity. The company has also appointed a n...
Tags: Travel, Uzbekistan, Financial Times, Uzbekneftegaz, Rupert Neil Bumfrey, Shavkat Mirziyoyev, Bahodirjon Sidikov


#SaudiArabia still faces investor unease amid Aramco bond rush | Financial Times

Saudi Arabia still faces investor unease amid Aramco bond rush | Financial Times:Saudi Arabia got the cold shoulder from global finance last year when the killing of journalist Jamal Khashoggi tarnished crown prince Mohammed bin Salman’s wish to be seen as a business-friendly reformer. Scores of business names, including JPMorgan chief executive Jamie Dimon, pulled out of a Saudi-organised event dubbed “Davos in the desert” soon after Khashoggi’s death.So Tuesday’s record-breaking order book for...
Tags: Travel, Saudi Arabia, Davos, Jamie Dimon, Financial Times, Riyadh, Aramco, Saudi Aramco, Jpmorgan, Mohammed bin Salman, Rupert Neil Bumfrey, Khashoggi, Jamal Khashoggi


#Saudi Aramco attracts $30bn demand for expected $10bn bond issue | Financial Times

Saudi Aramco attracts $30bn demand for expected $10bn bond issue | Financial Times:Saudi Aramco’s impending debut international bond has already drawn tens of billions of dollars of demand from investors, who are putting aside concerns over close linkages with a repressive state government to back the world’s most profitable company.Reflecting the scale of appetite for the deal, bankers are pushing for the multibillion-dollar bond to come at a cheaper borrowing cost for the oil company than for ...
Tags: Travel, Financial Times, Saudi Aramco, Rupert Neil Bumfrey


Independent oil explorers struggle to go green | Financial Times

Independent oil explorers struggle to go green | Financial Times:As UK oil and gas executives queued to get through security at the National Museum of Scotland in central Edinburgh last month, environment campaigners chanted: “How do you sleep at night?”.The oil majors have long been targets for climate change activists but the lively protests at the industry dinner attended by many smaller explorers were also a reminder for companies such as Premier Oil and Tullow that more attention is coming ...
Tags: Travel, UK, Edinburgh, Premier Oil, Financial Times, Tullow, National Museum of Scotland, Rupert Neil Bumfrey


The week in energy: #Saudi Aramco draws back the curtain | Financial Times

The week in energy: Saudi Aramco draws back the curtain | Financial Times:Some people are excited about the possibility that The Winds Of Winter, the long-awaited new instalment in George R R Martin’s series of novels A Song of Ice and Fire, might at last be published in 2019. In the energy world, though, the publishing event of the year has already arrived, in the shape of Saudi Aramco’s bond prospectus. The 469-page document issued on Monday, intended for potential buyers in the company’s firs...
Tags: Travel, Financial Times, Lex, Saudi Aramco, George R R Martin, Robert Smith, David Sheppard, Rupert Neil Bumfrey


Riyadh aims to counter Tehran’s influence by deepening Iraq ties | Financial Times

Riyadh aims to counter Tehran’s influence by deepening Iraq ties | Financial Times:Saudi Arabia is intensifying diplomatic efforts to boost ties with Iraq, as the kingdom aims to strengthen its influence on regional rival Iran’s doorstep.Majid al-Qasabi, the Saudi trade minister, hailed the “beginning of a new phase in the relations” between Riyadh and Baghdad as a delegation of more than 100 Saudi officials arrived in the Iraqi capital this week, wielding a $1bn grant for a sports stadium. Saud...
Tags: Travel, Saudi Arabia, Iraq, Iran, Tehran, Baghdad, Riyadh, Rupert Neil Bumfrey, Majid, | Financial Times, Adil Abdul Mahdi Iraq, Qasabi


#Saudi Aramco in four charts | Financial Times

Saudi Aramco in four charts | Financial Times:Secretive state oil company Saudi Aramco has given a glimpse of its financial performance. In the hope of whetting investors’ appetites, it has published a prospectus for its 30-year bond offering to finance its purchase of state petrochemicals company Sabic. Long known as the largest energy company in the world, Aramco has revealed it makes more in profit than any other company anywhere.The charts below highlight some of the factors that make Aramco...
Tags: Travel, Financial Times, Aramco, Saudi Aramco, Rupert Neil Bumfrey, Sabic Long


#Saudi women cook up a revolution in restaurant trade | Financial Times

Saudi women cook up a revolution in restaurant trade | Financial Times:Once Ramah Nassief and her business partner had decided on green marble for the table tops in their new vegetarian restaurant, a trip to the all-male marble factory was required.“The minute we walked in, people were looking at us like we were aliens,” she said, describing how they stood out as the only women. “We are there arguing and fighting for prices, but sometimes you feel like it’s a bit of a struggle to just put your f...
Tags: Travel, Financial Times, Rupert Neil Bumfrey


#Saudi Aramco leaves questions for potential investors | Financial Times

Saudi Aramco leaves questions for potential investors | Financial Times:Saudi Aramco might have lifted the lid on its financials to reveal profits that dwarf even the largest energy majors, but future investors in the state oil company — should it ever go public — still have a number of unanswered questions.The company’s first international bond prospectus revealed net income of $111bn last year — more than Apple and Alphabet made combined in 2018 — and enough cash on hand to assuage any doubts ...
Tags: Travel, Apple, ExxonMobil, Royal Dutch Shell, | Financial Times, Aramco, Saudi Aramco, SABIC, Rupert Neil Bumfrey


#Dubai fears the end of its ‘build it and they will come’ model | Financial Times

Dubai fears the end of its ‘build it and they will come’ model | Financial Times:The shimmering Palace Residences apartment blocks will look out through palm trees, across calm creek waters lapping in from the Gulf towards what developers boast will be the world’s tallest structure. The futuristic, rocket-shaped Dubai Creek Tower will be a “notch” higher than the Burj Khalifa, the current holder of that title, just down the road.Off-plan sales of the Palace Residences were launched in January, w...
Tags: Travel, Dubai, Financial Times, Burj Khalifa, Gulf, Rupert Neil Bumfrey, Dubai Creek Tower, Dubai Creek Harbour


#SaudiArabia’s Sabic to become Aramco’s chemicals arm | Financial Times

Saudi Arabia’s Sabic to become Aramco’s chemicals arm | Financial Times:Saudi Arabia’s Sabic will become the chemicals business of the state energy company Saudi Aramco, which this week acquired a majority stake as part of a deal to transfer funds to the country’s sovereign wealth fund.Yousef Al-Benyan, chief executive of Sabic, said in an interview that the business would be “the future chemical arm of Aramco”.“It will serve Aramco’s strategy to become a fully integrated energy company and it w...
Tags: Travel, Saudi Arabia, Financial Times, Aramco, Saudi Aramco, SABIC, Rupert Neil Bumfrey, Yousef al Benyan


#Dubai tenants drive down rents | Financial Times

Dubai tenants drive down rents | Financial Times:Dubai’s expat community has been bargaining hard for rent discounts. According to research by JLL, in the last quarter of 2018, average rental prices for apartments were 11 per cent lower while rents for detached homes were down 8 per cent from the same period in 2017. “Typically, colleagues and friends are getting close to 15 per cent off when they renew their rental contracts,” says Jason (not his real name), 61, a corporate writer for one of th...
Tags: Travel, Paris, Dubai, Jason, Financial Times, JLL, Rupert Neil Bumfrey, Dubai Economy Tracker Emirates NBD


Algeria faces economic crunch as oil and gas revenues fall short | Financial Times

Algeria faces economic crunch as oil and gas revenues fall short | Financial Times:Weeks of protests in Algeria have revealed popular discontent with Abdelaziz Bouteflika, the ailing president. A less visible threat to Algiers is the looming economic crisis, as revenues from the north African country’s oil and gas exports continue to fall short of its expanding needs, politicians and analysts warn.“The debate is now focused on politics, but the real iceberg is the risk of an economic crisis in t...
Tags: Travel, London, Algeria, Financial Times, Abdelaziz Bouteflika, Algiers, Rupert Neil Bumfrey, Europe Algeria, Riccardo Fabiani, Energy Aspects


Oil majors and utilities begin battle for power | Financial Times

Oil majors and utilities begin battle for power | Financial Times:Ten years ago, you knew where you stood with your energy suppliers. Oil companies sold road fuel, while utilities supplied electricity and gas. Today, those old lines of demarcation are blurring: utilities can fill up your car and oil companies want to keep your lights on.Technological progress and the threat of climate change are forcing both oil companies and utilities to rethink their strategies, and are pushing them into each ...
Tags: Travel, Financial Times, Rupert Neil Bumfrey



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