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Posts filtered by tags: Gulf[x]


 

Digital banking — a key enabler for #Qatar’s e-commerce market

Digital banking — a key enabler for Qatar’s e-commerce market:According to Fitch Solutions, “Qatar offers an e-commerce market worth almost $1.5bn in 2019. The Middle East and North Africa (Mena) region is projected to record e-commerce sales growth of 21.4% to reach $28.5bn in 2019. A common feature across the Gulf is a youthful demographic profile and high income levels. A high proportion of young adults (20-39 years old), making up more than a third of the total population. This age bracket i...
Tags: Travel, Qatar, Middle East, Gulf, North Africa MENA, Rupert Neil Bumfrey, GSMA Intelligence, Fitch Solutions


First Abu Dhabi Bank plans to raise $750mln in sukuk | ZAWYA MENA Edition

First Abu Dhabi Bank plans to raise $750mln in sukuk | ZAWYA MENA Edition:First Abu Dhabi Bank (FAB), the largest lender in the United Arab Emirates, is expected to raise $750 million in Islamic bonds, according to a document issued by one of the banks leading the deal.The five-year sukuk offer buyers 130 basis points over mid-swaps, 20 basis points below the indicative price FAB proposed when it started marketing the notes earlier on Tuesday.FAB, rated Aa3 by Moody's and AA-(minus) by S&P and F...
Tags: Travel, United Arab Emirates, Gulf, Moody, Fitch, Rupert Neil Bumfrey, First Abu Dhabi Bank


Pompeo Trip Fails to Ease Questions Over U.S. Goals in Mideast - Bloomberg

Pompeo Trip Fails to Ease Questions Over U.S. Goals in Mideast - Bloomberg:Secretary of State Michael Pompeo arrived in the Middle East a week ago on a mission to prove the Trump administration can be a reliable partner in tackling the region’s thorniest problems. He returns having failed to stifle doubts that have dogged the U.S. for years.With stops in eight countries in eight days, Pompeo sought to hammer home how different President Donald Trump’s approach is from that of his predecessor Bar...
Tags: Travel, Barack Obama, Qatar, Iran, Syria, Middle East, Donald Trump, Gulf, Trump, Pompeo, Rupert Neil Bumfrey, Michael Pompeo, Jamal Khashoggi, Mideast Bloomberg


On the Beach partners with Emirates

OTA will sell holidays in Dubai and other Gulf beach resorts
Tags: Travel, Emirates, Dubai, Gulf


Mideast Stocks: Saudi snaps winning streak as oil hurts most of Gulf | ZAWYA MENA Edition

Mideast Stocks: Saudi snaps winning streak as oil hurts most of Gulf | ZAWYA MENA Edition:Most major Gulf markets fell on Monday due to falling oil prices and mounting fears of a global slowdown after Chinese data showed weakening imports and exports, while Saudi Arabia dropped on weak petrochemical stocks, snapping a seven-day winning streak.Saudi Arabia's index edged down 0.1 percent, with top petrochemical producer Saudi Basic Industries dipping 0.8 percent and Yanbu National Petrochemicals l...
Tags: Travel, Saudi Arabia, Gulf, Mideast, Rupert Neil Bumfrey, Saudi Basic Industries, Yanbu National Petrochemicals


#Qatar shares edge lower on increased selling pressure

:The Qatar Stock Exchange on Sunday opened the week weak mainly owing to profit-booking pressure at the insurance, telecom, banking and real estate counters.The increased selling pressure from domestic institutions and the bearish grip of the Gulf individuals were visible in the bourse, whose 20-stock Qatar Index settled marginally lower (0.04%) at 10,653.57 points.The weakened buying interests from foreign funds also had its role in dampening the market, whose sensitive index has settled 3.44% ...
Tags: Travel, Qatar, Gulf, Rupert Neil Bumfrey, Qatar Stock Exchange, Qatar Index


Secretary of State Pompeo urges Gulf states to heal rift | Reuters

Secretary of State Pompeo urges Gulf states to heal rift | Reuters:U.S. Secretary of State Mike Pompeo said on Sunday that a rift between Qatar and its Gulf Arab neighbors had gone on for too long and was threatening regional unity needed to counter Iran.Saudi Arabia, the United Arab Emirates, Bahrain and non-Gulf Cooperation Council (GCC) member Egypt cut diplomatic, transport and trade ties with Qatar in June 2017, accusing it of supporting terrorism and their regional foe Shi’ite Muslim Iran ...
Tags: Travel, Qatar, Iran, United States, Egypt, Doha, Gulf, Reuters, State, Iran Saudi Arabia, Gulf Cooperation Council GCC, Gulf Arab, United Arab Emirates Bahrain, Pompeo, Mike Pompeo, Rupert Neil Bumfrey


MIDEAST STOCKS-Gulf edges up ahead of results season, DP World gains on Chile deal | Reuters

MIDEAST STOCKS-Gulf edges up ahead of results season, DP World gains on Chile deal | Reuters:Gulf markets were slightly higher in thin trading volume early on Sunday, mirroring last week’s muted close in global stock markets as investors took a breather ahead of company results reporting, which will start this week.In Dubai, major port operator DP World was up 0.7 percent after saying on Sunday it had agreed to acquire a 71.3 percent stake in Chile’s Puertos y Logistica (Pulogsa) from Minera Val...
Tags: Travel, Chile, Dubai, Gulf, Reuters, DP World, Rupert Neil Bumfrey, Puertos y Logistica Pulogsa, Minera Valparaiso, Matte Group DP World


#AbuDhabi's Etihad to cut 50 pilots after big loss last year: sources | Reuters

Abu Dhabi's Etihad to cut 50 pilots after big loss last year: sources | Reuters:Etihad Airways plans to cut 50 pilot jobs by end of this month after a significant loss last year, two sources who have seen an internal memo by the airline told Reuters on Thursday. The state-owned Gulf carrier has been reviewing its business since 2016 after a strategy of investing billions of dollars in other airlines failed.Etihad has around 160 surplus pilots and will lay off 50 by the end of January, the airlin...
Tags: Travel, Abu Dhabi, Etihad, Gulf, Reuters, Etihad Airways, Rupert Neil Bumfrey, Abudhabi


MIDEAST STOCKS- #Qatar hits highest in nearly 2 years, financials lift most Gulf markets | Reuters

MIDEAST STOCKS-Qatar hits highest in nearly 2 years, financials lift most Gulf markets | Reuters:The Qatar stock market hit its highest level in nearly two years on Thursday, as financial stocks boosted most major Gulf bourses ahead of corporate earnings announcements next week.Saudi's main index gained 0.8 percent, aided by a 1.6 percent rise in Al Rajhi Bank and a 1.2 percent increase in Saudi Basic Industries.Contractor Al Khodari rose 1.7 percent after its board proposed to use its statutory...
Tags: Travel, Qatar, Gulf, Reuters, Rupert Neil Bumfrey, Al Rajhi Bank, Saudi Basic Industries Contractor Al Khodari


Asian Investors Seek Harbor in Gulf Arab Bonds Amid Trade Storm - Bloomberg

Asian Investors Seek Harbor in Gulf Arab Bonds Amid Trade Storm - Bloomberg:Highly rated dollar bonds from the Middle East are emerging as a refuge for Asian bond investors as they brace for the impact of U.S. sanctions in other regions and the trade row with China.UOB Asset Management Ltd. and Bank of Singapore Ltd. have turned overweight on Gulf debt over the past year, arguing that the region is less exposed to international trade risks. Investors had sold off Gulf bonds because of falling oi...
Tags: Travel, Saudi Arabia, Qatar, Middle East, Gulf, Gulf Cooperation Council, Rupert Neil Bumfrey, Bloomberg Barclays, China UOB Asset Management Ltd, Bank of Singapore Ltd


MIDEAST STOCKS- #Saudi stocks continue to gain, rest of Gulf falls | Reuters

MIDEAST STOCKS-Saudi stocks continue to gain, rest of Gulf falls | Reuters:Saudi Arabia’s stock market was the sole gainer in early trading on Thursday, with most major Gulf bourses sliding before corporate earnings announcements next week.Saudi’s main index rose 0.4 percent, with petrochemical company Saudi Basic Industries adding 0.5 percent and Saudi British Bank rising 2.3 percent.Contractor Al Khodari rose 4.2 percent in heavy trade after its board proposed to use its statutory reserve of 7...
Tags: Travel, Saudi Arabia, Gulf, Reuters, Rupert Neil Bumfrey, Saudi Basic Industries, Saudi British Bank, Al Khodari


Man Group to fight $156m Kuwaiti lawsuit | Financial Times

Man Group to fight $156m Kuwaiti lawsuit | Financial Times:A Kuwaiti state pension fund is suing Man Group, the UK alternative investment manager, in a UK court for $156m. The Gulf country’s Public Institution for Social Security filed the lawsuit in November, the government-run agency told Reuters in a statement. It claimed that Man entered into “secret contracts with a former PIFSS executive between 1996 to 2013.” Its press statement did not provide any further explanation. The Kuwaiti fund co...
Tags: Travel, UK, Financial Times, Gulf, Reuters, Rupert Neil Bumfrey, Man Group, Public Institution for Social Security


Asian Football Confederation to raise lawsuit in #SaudiArabia over piracy | Reuters

Asian Football Confederation to raise lawsuit in Saudi Arabia over piracy | Reuters:The Asian Football Confederation (AFC) said on Wednesday it was taking legal action in Saudi Arabia against television channel beoutQ for illegally broadcasting its Asian Cup, the region’s biggest football tournament.BeoutQ has been accused by soccer’s governing body FIFA, tennis governing bodies and other sports bodies of illegally airing content whose exclusive Middle East television rights belong to Qatar-base...
Tags: Travel, Saudi Arabia, Qatar, Fifa, Doha, Gulf, Reuters, Asian Football Confederation, Asian Football Confederation AFC, Rupert Neil Bumfrey, Saudiarabia


MIDEAST STOCKS-Oil lifts #Saudi to 5-month high, most Gulf markets up | Reuters

MIDEAST STOCKS-Oil lifts Saudi to 5-month high, most Gulf markets up | Reuters:Saudi Arabia's stock market climbed to a five month high on Wednesday, while most major Gulf markets also gained as oil prices rose 2 percent on optimism over U.S.-Chinese trade talks.Both crude price benchmarks added to Tuesday's gains and have now been on the rise for eight straight days - their longest rally since June 2017.The Saudi index rose 1.1 percent, helped by bank and petrochemical stocks. Market heavyweigh...
Tags: Travel, Saudi Arabia, Gulf, Reuters, Rupert Neil Bumfrey, Saudi Basic Industries, Al Rajhi Bank


UPDATE 1- #SaudiArabia tests demand for Gulf debt with dollar bond | Reuters

UPDATE 1-Saudi Arabia tests demand for Gulf debt with dollar bond | Reuters:Saudi Arabia plans to issue U.S. dollar-denominated bonds on Wednesday, targeting longer dated maturities in a test of international investor demand for the Gulf region.Hit by a slump in oil prices, Saudi Arabia has become one of the biggest issuers across emerging markets, having sold $52 billion in international bonds since its debut in 2016.The kingdom, which plans to boost borrowing this year to back a planned increa...
Tags: Travel, Saudi Arabia, Gulf, Reuters, Rupert Neil Bumfrey


MIDEAST STOCKS-Banks lift #Saudi, property stocks aid #UAE | Reuters

MIDEAST STOCKS-Banks lift Saudi, property stocks aid UAE | Reuters:The Saudi stock market inched up in early trading on Wednesday as its bank shares gained, while most Gulf markets were firm in quiet trading ahead of corporate earnings announcements next week.Saudi Arabia’s main index was up 0.1 percent, with Al Rajhi Bank rising 0.2 percent and Samba Financial Group increasing 0.6 percent.Al Ahsa Development gained 3 percent after signing an agreement to buy a 25 percent stake in Twareat Medica...
Tags: Travel, Saudi Arabia, Uae, Gulf, Reuters, Rupert Neil Bumfrey, Samba Financial Group, Al Rajhi Bank, Al Ahsa Development, Twareat Medical Center


MIDEAST STOCKS-Oil rise lifts all major Gulf markets, #Saudi leads gains | Reuters

:All major Gulf markets rose for a third straight session on Monday, boosted by financial stocks amid rising oil prices, while Saudi Arabia and Qatar gained sharply as most of their banks increased.Oil prices rose by 2 percent on Monday, extending a rally from December's 18-month lows with support from OPEC production cuts and steadying share markets.Saudi Arabia's index rose 1.5 percent to close at its highest since Aug. 12, 2018, with 11 of its 12 banks gaining. [Author: [email protected]
Tags: Travel, Saudi Arabia, Opec, Qatar, Gulf, Reuters, Rupert Neil Bumfrey


Mideast Stocks: #Saudi gains on financials, most of Gulf mixed | ZAWYA MENA Edition

Mideast Stocks: Saudi gains on financials, most of Gulf mixed | ZAWYA MENA Edition:Most major Middle East markets were mixed in early trading on Monday, despite rebounding oil prices, while the Saudi market was lifted by its financial and petrochemical stocks.Saudi Arabia's index rose 0.3 percent with Saudi Kayan Petrochemical adding 2.2 percent and Savola Group increasing 2 percent.Saudi exchange data released late on Sunday showed that foreigners were net buyers of 134.3 million riyals ($35.81...
Tags: Travel, Saudi Arabia, Middle East, Gulf, Rupert Neil Bumfrey, Savola Group, Saudi Kayan Petrochemical


MIDEAST STOCKS-Most Gulf markets recover on financials, #Qatar leads | Reuters

:Major Gulf markets staged a recovery on Thursday after opening on a weak note on global market woes, with renewed interest in financial stocks helping overcome volatility in global markets.The Qatari index rose 0.7 percent, with 18 of its 20 stocks advancing. The Middle East's second largest petrochemical firm Industries Qatar added 1.8 percent while Qatar Islamic Bank increased 0.9 percent.But Mesaieed Petrochemical plunged by 7.3 percent, having jumped by its 10 percent daily limit in the pre...
Tags: Travel, Qatar, Middle East, Gulf, Reuters, Qatar Islamic Bank, Rupert Neil Bumfrey, Industries Qatar, Qatar Petroleum, Mesaieed Petrochemical


#Dubai businesses voice fears about slow recovery | Financial Times

Dubai businesses voice fears about slow recovery | Financial Times:A series of government reforms in recent years has failed to revive Dubai’s economy, business people have warned, as the Gulf’s commercial hub struggles to shake off a four-year slump.Senior business figures and officials are concerned that the crisis, sparked in 2015 by the slide in oil prices, has not eased despite higher crude markets last year which were expected to boost confidence in a city renowned for recycling petrodolla...
Tags: Travel, Qatar, Iran, Dubai, Yemen, Financial Times, Gulf, Rupert Neil Bumfrey


MIDEAST STOCKS-Global market weakness pressures Gulf markets | Reuters

MIDEAST STOCKS-Global market weakness pressures Gulf markets | Reuters:All major Gulf markets fell on Thursday, weighed down by falling oil prices and volatile global markets on concern over the world economy and corporate earnings into 2019.Continuing weakness in property shares contributed to a 0.4 percent decline in the Dubai index, one of the world’s worst-performing stock markets last year.The emirate’s largest listed developer Emaar Properties lost 1.2 percent and construction company Arab...
Tags: Travel, Dubai, Gulf, Reuters, Emaar Properties, Arabtec, Rupert Neil Bumfrey


#Oman seeks to raise $6.2b for 2019

Oman seeks to raise $6.2b for 2019:Oman’s government, whose budget deficit is among the largest of all the sovereigns tracked by Fitch Ratings, will tap capital markets for a fourth straight year to plug a fiscal gap vulnerable to lower oil prices.The Gulf nation is looking to raise 2.4 billion Omani riyals (Dh22.8 billion, $6.2 billion) internationally and at home, according to a state budget plan published on the Oman News Agency. Borrowing will cover 86 per cent of the country’s 2.8 billion-r...
Tags: Travel, Oman, Gulf, Fitch Ratings, Rupert Neil Bumfrey, Oman News Agency Borrowing


Saudis Said to Seek Advisers for Biggest Bank Merger Since 2016 - Bloomberg

Saudis Said to Seek Advisers for Biggest Bank Merger Since 2016 - Bloomberg:National Commercial Bank and Riyad Bank are seeking advisers for a potential merger that would create the Gulf region’s third-biggest lender with $182 billion in assets, according to people with knowledge of the matter.The banks have sent out so-called request for proposals to firms including Citigroup Inc., Credit Suisse Group AG, Goldman Sachs Group Inc., HSBC Holdings Plc, JPMorgan Chase & Co. and UBS Group AG, the pe...
Tags: Travel, Bloomberg, Gulf, UBS Group AG, Riyad Bank, Rupert Neil Bumfrey, Public Investment Fund, National Commercial Bank


MIDEAST STOCKS-Top bank boosts Egypt, Gulf falls in thin trade | Reuters

MIDEAST STOCKS-Top bank boosts Egypt, Gulf falls in thin trade | Reuters:Egypt's blue-chip stock index rose sharply on Wednesday, boosted by its biggest bank, while all major Gulf markets were weak, with some investors away on year-end holidays.The Egyptian index rose 1.3 percent as Commercial International Bank gained 1.9 percent.Real estate firm Talaat Mostafa rose 3.2 percent after saying its sales last year reached 21.3 billion Egyptian pounds ($1.2 billion), up from 13.1 billion pounds a ye...
Tags: Travel, Egypt, Gulf, Reuters, Rupert Neil Bumfrey, Commercial International Bank, Talaat Mostafa, Egypt Gulf


MIDEAST STOCKS-Banks weigh on #Qatar, Gulf mostly weak but Dubai firm early on | Reuters

MIDEAST STOCKS-Banks weigh on Qatar, Gulf mostly weak but Dubai firm early on | Reuters:The Qatar stock market fell early on Wednesday, weighed down by banking shares, while most major Gulf markets slipped as year-end holidays dampened trading volumes.Qatar’s index, one of the world’s best performing markets last year with a 20.8 percent gain, dropped 0.4 percent with Qatar National Bank falling 1.4 percent and Industries Qatar decreasing 1.2 percent.But real estate firm United Development Co ga...
Tags: Travel, Qatar, Dubai, Gulf, Reuters, Qatar National Bank, Rupert Neil Bumfrey, Industries Qatar, United Development Co, Qatar Petroleum, Qatar Gulf, Seef Ltd


#UAE Minister Says He Expects Rift With #Qatar to Continue - Bloomberg

U.A.E. Minister Says He Expects Rift With Qatar to Continue - Bloomberg:A diplomatic rift between Qatar and several Gulf states that’s lasted a year and a half is likely to continue in the new year, said Anwar Gargash, the United Arab Emirate’s minister of state for foreign affairs."In my estimation, the boycott of Qatar will continue in 2019 because it’s linked to necessary changes in Doha’s destructive tendencies," Gargash said in a Twitter post. "Qatar will continue to fail to combat the acti...
Tags: Travel, Qatar, Yemen, Doha, Gulf, United Arab Emirate, Rupert Neil Bumfrey, Anwar Gargash, Gargash, Continue Bloomberg


Gulf's REITs bring IPO receipts, but investor returns not so neat | ZAWYA MENA Edition

Gulf's REITs bring IPO receipts, but investor returns not so neat | ZAWYA MENA Edition:The Gulf’s REITs sector has tremendous potential but must overcome ambiguous regulations, a shortage of suitable property and downbeat investor sentiment in order to expand as an asset class.Dubai was the first Gulf jurisdiction to permit Real Estate Investment Trusts (REITs), which own and manage real estate portfolios, introducing a REITs law in 2006, while Abu Dhabi, Saudi Arabia, Oman and Bahrain did likew...
Tags: Travel, Saudi Arabia, Dubai, Bahrain, Gulf, Rupert Neil Bumfrey, Real Estate Investment Trusts, Abu Dhabi Saudi Arabia Oman


MIDEAST STOCKS- #Dubai leaps as Gulf ends strong year; oil clouds 2019 | Reuters

MIDEAST STOCKS-Dubai leaps as Gulf ends strong year; oil clouds 2019 | Reuters:Dubai’s beaten-down stock market rose sharply on Monday as the largest Gulf bourses ended a year in which most outperformed global benchmarks, although soft oil prices cloud the outlook for 2019.The Dubai index, which hit five-year lows last week, surged 2.4 percent — it biggest rise since June 2017 — as real estate stocks rebounded. Emaar Properties gained 3.3 percent and DAMAC Properties added 4.1 percent.Dubai’s bo...
Tags: Travel, Shanghai, Dubai, Athens, Gulf, Reuters, Emaar Properties, DAMAC Properties, Rupert Neil Bumfrey


MIDEAST STOCKS-Most of Gulf rises in thin trade, ENBD aids #Dubai | Reuters

MIDEAST STOCKS-Most of Gulf rises in thin trade, ENBD aids Dubai | Reuters:Most major Gulf stock markets rose early on Monday in light trade with many investors away on year-end holidays, while Dubai gained sharply, boosted by bank shares.Saudi Arabia’s index gained 0.3 percent in the first 70 minutes with Al Rajhi Bank adding 0.6 percent and Samba Financial Group climbing 1.0 percent.In Dubai, the index rose 1.4 percent, gaining for a fifth straight day after hitting a five-year low last week. ...
Tags: Travel, Saudi Arabia, Dubai, Gulf, Reuters, Emirates NBD, Rupert Neil Bumfrey, Samba Financial Group, Al Rajhi Bank



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