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Posts filtered by tags: Gulf[x]


 

#Dubai’s message to its people: be tolerant, or else | Financial Times

Dubai’s message to its people: be tolerant, or else | Financial Times:Dubai has a limitless ability to reinvent itself. Having run out of branding wonders — think of Burj Khalifa or its man-made islands — the Gulf emirate has now latched on to catchy concepts. Drive through the city’s boulevards and you’ll see of billboards celebrating the “year of tolerance”; you might even spot “Tolerance Bridge”. Talk to residents and you will learn that school children are assigned tolerance projects and art...
Tags: Travel, United Arab Emirates, Dubai, Francis, Uae, Financial Times, Burj Khalifa, Gulf, Rupert Neil Bumfrey


Mideast Stocks: Global mood pulls down most major Gulf markets | ZAWYA MENA Edition

Mideast Stocks: Global mood pulls down most major Gulf markets | ZAWYA MENA Edition:Saudi Arabia's stock market dropped on Wednesday as its banks fell, while most major Gulf markets also slid, mirroring global cues ahead of a decision by the U.S. Federal Reserve on its interest rate plans for the year.Major Gulf countries have their currencies pegged with the U.S. dollar and any decision by the Federal Reserve will directly impact currency performance of those countries.Saudi's index fell 0.4 pe...
Tags: Travel, Saudi Arabia, Federal Reserve, Gulf, U S Federal Reserve, Russell, Rupert Neil Bumfrey, Major Gulf


Former churches turned into bars

Historic churches are already some of the most gorgeous structures in the world. Recently, a select few have been turned into something even more beautiful — bars. Don’t worry, it’s not sacrilegious. These churches have been deconsecrated, so they’re simply regular buildings with stunning architectural designs at this point. The conversion is a win-win for both the churches and the bars. Official estimates list the number of church closures at around 4,000 a year, and new tenets are keeping ...
Tags: Travel, UK, England, Church, US, New Orleans, Dublin, Denver, Pittsburgh, All, Gulf, Cincinnati, Taft, DUBLIN Ireland, Cincinnati Ohio, Nellie


#UAE Plans to Ease Citizens' Debt Burden as Economy Slows - Bloomberg

U.A.E. Plans to Ease Citizens' Debt Burden as Economy Slows - Bloomberg:The United Arab Emirates started a program that aims to reduce the debt burden of its citizens as the oil-rich Gulf country grapples with an economic slowdown.The program, launched by the central bank, targets loans that cost individuals more than 50 percent of their monthly salary, according to the state-run WAM news agency. Payments would be consolidated over a maximum period of four years and capped at half the person’s s...
Tags: Travel, Wam, United Arab Emirates, Gulf, Rupert Neil Bumfrey


Kuwait Airways Said to Seek $350 Million Loan to Pay for Planes - Bloomberg

Kuwait Airways Said to Seek $350 Million Loan to Pay for Planes - Bloomberg:Kuwait Airways Corp. is seeking a $350 million loan that will help the Gulf carrier pay for planes, people with knowledge of the deal said.The state-run airline is talking to banks to raise a five-year facility, said the people, asking not to be identified because the information is private. It’ll be used to make early payments for narrow-body jets, they said.Kuwait Airways has 15 Airbus SE A320neo narrow-body planes on ...
Tags: Travel, Bloomberg, Boeing, Kuwait Airways, Gulf, Rupert Neil Bumfrey, Kuwait Airways Said, Planes Bloomberg, Kuwait Airways Corp


MIDEAST STOCKS- #Saudi dips ahead of FTSE Russell index inclusion, other markets mixed | Reuters

MIDEAST STOCKS-Saudi dips ahead of FTSE Russell index inclusion, other markets mixed | Reuters:Saudi stocks dipped slightly on Sunday, a day ahead of the market's inclusion in the FTSE Russell's emerging market index, while other Gulf markets were mixed with Qatar down 1.1 percent on weakness in banks and real estate firms.Investors booked profits in recent gainers on the Tadawul, weakening the benchmark, which was down 0.2 percent. The Saudi index has gained 9.5 percent so far this year, outper...
Tags: Travel, Qatar, Gulf, Reuters, Tadawul, Russell, Rupert Neil Bumfrey


MIDEAST STOCKS- #Saudi edges up ahead of FTSE Russell index inclusion, other mkts mixed | Reuters

MIDEAST STOCKS-Saudi edges up ahead of FTSE Russell index inclusion, other mkts mixed | Reuters:Saudi stocks were trading 0.2 percent higher on Sunday, a day ahead of the exchange’s inclusion in the FTSE Russell’s emerging market index, while other Gulf markets were mixed with Qatar down 0.8 percent on weakness in banks and real estate firms.The Saudi index has gained 9.8 percent so far this year, outperforming major Gulf markets. Foreign investors have been net buyers of Saudi stocks every week...
Tags: Travel, Qatar, Gulf, Reuters, MSCI, Russell, Rupert Neil Bumfrey, Riyad Capital, Muhammad Faisal Potrik


Smuggler Turned Boeing 777 Lavatory Into a ‘Pot’ of Gold

12kg of gold was found behind the mirror in the lavatory of a Biman Bangladesh flight from Dubai on arrival in Dhaka on Monday. You might even say that lavatory was a pot of gold. Smuggling gold into Bangladesh is incredibly common. Spot prices are high and it’s a common destination for illicit funds being taken out of the Gulf region and also parts of Asia as we learned when a North Korean diplomat was discovered trying to bring $1.4 million in gold into Dhaka. Continue reading Smuggler Turned ...
Tags: Travel, Asia, Advice, Dubai, Bangladesh, Boeing, Dhaka, Gulf, Biman Bangladesh, Dhaka Continue


Etihad Woes Deepen as Losses Reach $4.8 Billion in Three Years - Bloomberg

Etihad Woes Deepen as Losses Reach $4.8 Billion in Three Years - Bloomberg:Etihad Airways posted a loss of $1.28 billion in 2018, extending the deficit over three years to $4.8 billion, as the Gulf carrier pushes ahead with a cost-cutting plan to stabilize the balance sheet.The Abu Dhabi company, which has abandoned an attempt to build a global network of airline investments after a string of failures, canceled a further nine unprofitable routes last year, it said in an emailed statement Thursda...
Tags: Travel, Bloomberg, Airbus, Abu Dhabi, Etihad, Gulf, Etihad Airways, Boeing Co, Rupert Neil Bumfrey, Tony Douglas


#Dubai's Aramex Rallies as Foreigners Cheer Australia Post's Exit - Bloomberg

Dubai's Aramex Rallies as Foreigners Cheer Australia Post's Exit - Bloomberg:Aramex PJSC was set for its biggest gain in more than two years after a unit of Australian Postal Corp. sold its stake in Middle Eastern package-delivery service, enabling other foreign investors to buy the stock.Aramex was trading up 8 percent at 4.73 dirhams as of 1:20 p.m. in Dubai, putting the stock on track for its biggest increase since January 2017. It was the best performer among the 37 companies on Dubai’s main...
Tags: Travel, Bloomberg, Dubai, Gulf, Australia Post, Aramex, Rupert Neil Bumfrey, Aramex Rallies, Aramex PJSC, Australian Postal Corp, Australia Post Transaction Services Pty


MIDEAST STOCKS-Global rally boosts most of Gulf, banks lift #Saudi | Reuters

MIDEAST STOCKS-Global rally boosts most of Gulf, banks lift Saudi | Reuters:Most major Gulf markets rose on Tuesday, lifted by financial and real estate stocks, mirroring a rally in global markets amid hopes for a U.S.-China trade deal and progress on Brexit.Saudi Arabia's index was up 0.2 percent with its largest lender, National Commercial Bank, gaining 1 percent and bank Samba Financial Group adding 1.1 percent.The index is up 7.8 percent this year, outperforming major Gulf markets, with big ...
Tags: Travel, Saudi Arabia, China, Gulf, Reuters, Rupert Neil Bumfrey, Samba Financial Group, National Commercial Bank, Jamal Khashoggi, Brexit Saudi Arabia


#Qatar Islamic Bank hires banks ahead of dollar sukuk - IFR | Reuters

Qatar Islamic Bank hires banks ahead of dollar sukuk - IFR | Reuters:Qatar Islamic Bank, the Gulf state’s largest sharia-compliant lender by assets, has hired banks ahead of a potential issue of U.S. dollar-denominated sukuk, or Islamic bonds, according to IFR, a fixed income news service.The lender has appointed Barclays, Boubyan Bank , Credit Agricole, QInvest, QNB Capital and Standard Chartered as joint bookrunners to arrange fixed income investor meetings in Singapore, Hong Kong and London f...
Tags: Travel, London, Gulf, Reuters, SINGAPORE HONG KONG, IFR, Qatar Islamic Bank, Rupert Neil Bumfrey, Barclays Boubyan Bank Credit Agricole, QNB Capital and Standard Chartered


MIDEAST STOCKS-Global rally lifts Gulf, blue chips lead #Qatar | Reuters

MIDEAST STOCKS-Global rally lifts Gulf, blue chips lead Qatar | Reuters:All major Gulf markets rose on Tuesday mirroring gains in global markets, while Qatar was lifted by its blue-chip stocks.The Qatar index was up 0.8 percent after five sessions of losses. Middle East’s biggest lender Qatar National Bank advanced 1.3 percent and blue-chip petrochemical maker Industries Qatar increased 1 percent.The index was one of the best performing markets last year as fund inflows increased after the limit...
Tags: Travel, Qatar, Middle East, Gulf, Reuters, Qatar National Bank, Rupert Neil Bumfrey, Industries Qatar


#Qatar Seeks More Russia Deals After `Great' Rosneft Investment - Bloomberg

Qatar Seeks More Russia Deals After `Great' Rosneft Investment - Bloomberg:Qatar is looking for more investment opportunities in Russia to capitalize on “huge” growth potential and is fully satisfied with its purchase of around a fifth of Russian state oil producer Rosneft PJSC, the Gulf state’s ambassador in Moscow said.“The company with its valuation has been attractive,” Fahd bin Mohammed Al-Attiyah said in an interview in the Russian capital. “It’s a great investment and we’re very happy to ...
Tags: Travel, China, Russia, Qatar, Moscow, Qatar Investment Authority, Rosneft, Gulf, BP Plc, Rupert Neil Bumfrey, CEFC Energy Co, Fahd bin Mohammed Al Attiyah


MIDEAST STOCKS-Banks lead #Saudi lower, blue chips gain in Egypt | Reuters

MIDEAST STOCKS-Banks lead Saudi lower, blue chips gain in Egypt | Reuters:Saudi Arabia's stock market fell for a fifth straight session on Monday as most of its banking sector stocks dropped, while Egypt's blue-chip index gained, helped by a rise in Eastern Company after it forecast a higher full-year profit.Saudi Arabia's index was down 0.5 percent with lender Samba Financial Group slipping 1.8 percent and Banque Saudi Fransi shedding 1.7 percent.But the index is still up 7.7 percent this year,...
Tags: Travel, Saudi Arabia, Egypt, Gulf, Reuters, Rupert Neil Bumfrey, Samba Financial Group, Banque Saudi Fransi, Eastern Company


#UAE to set up debt management office, seek sovereign rating | Reuters

UAE to set up debt management office, seek sovereign rating | Reuters:The United Arab Emirates’ Finance Ministry will set up a federal debt management office this year and will seek a sovereign rating for the Gulf state, an undersecretary of the ministry said on Monday.“We want to be rated. It all depends on what we’ll be agreeing with the central bank,” Younis Haji al-Khoori said, adding no rating agency had been appointed yet. “There is no immediate need for issuance of federal bonds.” [Aut...
Tags: Travel, Uae, Gulf, Reuters, Rupert Neil Bumfrey, United Arab Emirates ' Finance Ministry, Younis Haji al Khoori


MIDEAST STOCKS- Gulf stocks hit by global market weakness, IPOs boost Egypt | Reuters

MIDEAST STOCKS- Gulf stocks hit by global market weakness, IPOs boost Egypt | Reuters:Gulf markets ended lower on Sunday, weighed down by weak global markets and a drop in oil price, but Egyptian stocks defied the trend, gaining on the back of positive momentum generated by the initial public offering of a state-owned company.Abu Dhabi's stock index lost 0.9 percent, hurt mainly by First Abu Dhabi Bank, which was down 1.6 percent, while other banks were also lower.FAB's shares were hit partly by...
Tags: Travel, Egypt, Abu Dhabi, Gulf, Reuters, Rupert Neil Bumfrey, First Abu Dhabi Bank


MIDEAST STOCKS- #Saudi stocks up on banks, rest of the Gulf stagnates | Reuters

MIDEAST STOCKS-Saudi stocks up on banks, rest of the Gulf stagnates | Reuters:Saudi stocks rose on Sunday, helped by banks as authorities said there were no immediate plans to increase Islamic tax levels, while other Gulf equities fell due to weak global markets and a drop in oil prices.Saudi Arabia’s main index was up 0.3 percent, boosted by a better performance among banks. Al Rajhi Bank was up 1.1 percent, while National Commercial Bank , the kingdom’s largest bank, was up 1.9 percent.On Frid...
Tags: Travel, Saudi Arabia, Bloomberg, Gulf, Reuters, Rupert Neil Bumfrey, National Commercial Bank, Al Rajhi Bank


MIDEAST STOCKS-Most Gulf markets fall, Egypt lifted by blue-chips | Reuters

MIDEAST STOCKS-Most Gulf markets fall, Egypt lifted by blue-chips | Reuters:Most major Gulf markets slipped sharply on Thursday, with a possible increase to Islamic tax pulling down Saudi Arabia's banks and Qatar hitting a five-month low.Saudi Arabia's index was down 0.6 percent due to a sell-off in its bank stocks, with Al Rajhi Bank shedding 2 percent and the country's largest bank, National Commercial Bank, declining 2.1 percent.The kingdom is considering plans to increase an Islamic tax paid...
Tags: Travel, Saudi Arabia, Qatar, Bloomberg, Egypt, Gulf, Reuters, Rupert Neil Bumfrey, National Commercial Bank, Al Rajhi Bank


MIDEAST STOCKS-Property weighs on #Dubai, most major Gulf markets fall | Reuters

MIDEAST STOCKS-Property weighs on Dubai, most major Gulf markets fall | Reuters:Dubai stocks fell on Thursday when its property firms declined, while bank shares hurt the Saudi market.Saudi Arabia’s index was down 0.7 percent, with Al Rajhi Bank shedding 1.2 percent and the country’s largest bank, National Commercial Bank, declined 1.5 percent.Saudi International Petrochemical slipped 1.5 percent. The firm said potential synergies from a possible merger with Sahara Petrochemical is expected to b...
Tags: Travel, Saudi Arabia, Dubai, Gulf, Reuters, EBITDA, Rupert Neil Bumfrey, National Commercial Bank, Al Rajhi Bank, Saudi International Petrochemical, Sahara Petrochemical


#Qatar attracts $50bn of bids for $12bn bond sale | Financial Times

Qatar attracts $50bn of bids for $12bn bond sale | Financial Times:Qatar has carried out a bumper bond sale — raising $12bn — in the latest sign that the market for emerging market sovereign debt is again booming.The Gulf state racked up order books of $50bn for the five-, 10- and 30-year bonds. Its first dollar-denominated debt sale of the year on Wednesday came two months after regional rival Saudi Arabia sold $7.5bn in bonds after drawing orders of $27bn.The strong investor appetite for Qatar...
Tags: Travel, Saudi Arabia, US, Qatar, Financial Times, Gulf, Em, Rupert Neil Bumfrey


Places to Visit in Doha, Qatar

Along the coast of Persian Gulf, the city of Doha stands tall as the capital of Qatar, and is one of the prominent cities in the Gulf region. Founded in early 19th century as a part of Al Bidda, the city became the capital of Qatar in 1971. The city has grown multifold over the years and has emerged as one of the major commercial and financial centres in the Middle East. Doha is also all set to host the Fifa World Cup 2022 and there is extensive work happening across the city in this rega...
Tags: Travel, Qatar, Syria, Islam, Dubai, Doha, Gulf, West Bay, Qatar Airways, Souq Waqif, Pei, Persian Gulf, Katara, Doha Qatar, Palm Islands, R Niranjan Das


#Qatar sells triple-tranche jumbo bond to raise $12 billion | Reuters

Qatar sells triple-tranche jumbo bond to raise $12 billion | Reuters:Qatar sold $12 billion in bonds on Wednesday, and drew around $50 billion in demand - the largest order book globally since its bond sale last year and the latest indication of how the country has overcome a boycott imposed by some of its Arab neighbors.The debt sale, split into tranches of five, 10 and 30 years, was much bigger than the $7.5 billion bond issued by rival Saudi Arabia in January, which had attracted over $27 bil...
Tags: Travel, Saudi Arabia, Qatar, Gulf, Reuters, Rupert Neil Bumfrey


MIDEAST STOCKS- #Qatar hits 2-month low, major Gulf markets down | Reuters

MIDEAST STOCKS-Qatar hits 2-month low, major Gulf markets down | Reuters:The Qatar stock market slid to a two-month low on Tuesday, weighed down by its blue-chips, while major Gulf bourses fell across the board, mostly pressured by financial shares.Qatar's index fell 1.1 percent, with Vodafone Qatar losing 3.2 percent after approving a regulatory decision to reduce the nominal value of its shares to 1 riyal each.Qatar National Bank, the largest lender by assets in the Middle East and Africa, dro...
Tags: Travel, Africa, Qatar, Middle East, Gulf, Reuters, Qatar National Bank, Rupert Neil Bumfrey, Industries Qatar, Vodafone Qatar


Mideast Stocks: #Saudi stocks fall before joining FTSE; major Gulf markets down | ZAWYA MENA Edition

Mideast Stocks: Saudi stocks fall before joining FTSE; major Gulf markets down | ZAWYA MENA Edition:Saudi Arabian stocks fell on Tuesday, pulled down by financial shares before the market's inclusion in the FTSE Russell's emerging-market index. All major gulf markets slid.Middle Eastern markets followed global cues, with oil prices dropping after China cut its 2019 economic growth target, dimming the outlook for fuel demand.The Saudi index edged down 0.1 percent with AXA Cooperative Insurance de...
Tags: Travel, China, Gulf, Mideast, Rupert Neil Bumfrey, AXA Cooperative Insurance, Al Rajhi Co for Cooperative Insurance


Time to Buy #Saudi Stocks? Some Investors Look at #Dubai Instead - Bloomberg

Time to Buy Saudi Stocks? Some Investors Look at Dubai Instead - Bloomberg:Saudi Arabian stocks are about to join major emerging-markets benchmarks, gaining the attention of many money managers for the first time. But some investors familiar with markets in the Gulf say that Dubai offers bigger potential gains.That’s because the biggest stocks in Riyadh have been rallying in anticipation of their inclusion in the gauges, compiled by FTSE Russell and MSCI Inc., in several tranches starting this m...
Tags: Travel, Bloomberg, Dubai, Gulf, Riyadh, Russell, Rupert Neil Bumfrey, MSCI Inc, Dubai Instead Bloomberg


Mideast Stocks: #Saudi steady ahead of FTSE inclusion, most Gulf markets down | ZAWYA MENA Edition

Mideast Stocks: Saudi steady ahead of FTSE inclusion, most Gulf markets down | ZAWYA MENA Edition:Saudi Arabia's stock exchange was steady in early trading on Monday, ahead of its entry to the FTSE Russell's emerging market index in a little more than two weeks, while most major Gulf markets slipped.Saudi Arabia's main index as flat, with petrochemical investor Alujain rising 2.1 percent after providing an update on a fire in its affiliate's plant. The firm said it expects the plant to start ope...
Tags: Travel, Saudi Arabia, Gulf, Reuters, Russell, Rupert Neil Bumfrey, Alujain


MIDEAST STOCKS- #Saudi index rises as countdown begins for entry to FTSE Russell index | Reuters

MIDEAST STOCKS-Saudi index rises as countdown begins for entry to FTSE Russell index | Reuters:Saudi stocks ended higher on Sunday, helped by optimism over more fund inflows ahead of the entry of Gulf's biggest market to the FTSE Russell's emerging market index is just over two weeks.The Tadawul main index was up 0.5 percent, led by financial stocks. Samba Financial Group rose 1.1 percent and Al Rajhi Bank climbed 0.4 percent.Al Tayyar Travel Group surged 5.7 percent as investors went past its f...
Tags: Travel, Gulf, Reuters, Tadawul, Russell, Rupert Neil Bumfrey, Samba Financial Group, Al Rajhi Bank, Al Tayyar Travel Group


MIDEAST STOCKS- #Saudi stocks edge higher in run-up to joining FTSE emerging market index | Reuters

MIDEAST STOCKS-Saudi stocks edge higher in run-up to joining FTSE emerging market index | Reuters:Saudi stocks opened firmer on Sunday, just over two weeks before the Gulf’s biggest market is set to enter the FTSE Russell’s emerging market index.The Tadawul main index was up 0.5 percent, led by financial stocks. Samba Financial Group rose 1 percent and Al Rajhi Bank climbed 0.8 percent.Saudi Arabia’s stock exchange expects passive fund inflows of $15 to $20 billion this year as it gears up for i...
Tags: Travel, Saudi Arabia, Gulf, Reuters, Tadawul, Rupert Neil Bumfrey, Samba Financial Group, Al Rajhi Bank


In rebuff to Trump, OPEC oil output drops further in February | Reuters

In rebuff to Trump, OPEC oil output drops further in February | Reuters:OPEC oil supply fell to a four-year low in February, a Reuters survey found, as top exporter Saudi Arabia and its Gulf allies over-delivered on the group’s supply pact while Venezuelan output registered a further involuntary decline.The drop of 300,000 barrels per day (bpd) comes despite criticism from U.S. President Donald Trump, who on Monday tweeted a call for the group to ease its efforts to boost prices, saying they wer...
Tags: Travel, Saudi Arabia, Opec, Donald Trump, Gulf, Trump, Reuters, Petroleum Exporting Countries, Rupert Neil Bumfrey, Trump OPEC



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