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Meet #UAE Leader Sheikh Mohammed's New Royal Troubleshooter - Bloomberg ht @ghoshworld

Meet UAE Leader Sheikh Mohammed's New Royal Troubleshooter - Bloomberg If you’re interested in the geopolitics of the Middle East, chances are you know Sheikh Tahnoon bin Zayed Al Nahyan as the national security advisor of the United Arab Emirates. In this role, he’s been pivotal to the country’s military operations in Yemen and Libya, and in its recent efforts to mend fences with regional rivals like Turkey, Qatar and Iran.If you’re interested in the business of the Middle East, you may have ...
Tags: Travel, Iran, Middle East, United Arab Emirates, Libya, Abu Dhabi, Yemen, Uae, Mohammed, Gulf, Arabian Peninsula, Mohammed bin Zayed, Tahnoon Bin Zayed Al Nahyan, Rupert Neil Bumfrey, Turkey Qatar, Sheikh Tahnoon


#Kuwait's efforts on political gridlock give hope for strained finances - IMF | Reuters

Kuwait's efforts on political gridlock give hope for strained finances - IMF | Reuters Kuwait's political gridlock has strained state coffers but new efforts to resolve the impasse could signal an acceleration in reform momentum, the International Monetary Fund said.A stand-off between the government and the elected parliament had paralysed legislative work, hindering efforts to boost state finances and enact measures including a debt law making it possible to tap global markets, a government ...
Tags: Travel, International Monetary Fund, Kuwait, Imf, Gulf, Reuters, Reuters Kuwait, Rupert Neil Bumfrey


Aramex drives #Dubai bourse higher, #Saudi at 15-year high | Reuters

Aramex drives Dubai bourse higher, Saudi at 15-year high | Reuters Dubai's stock market ended higher on Wednesday, outperforming its Gulf peers, led by a surge in logistic firm Aramex, while the Saudi index extended gains a day after hitting a 15-year peak.Dubai's main share index (.DFMGI) finished 1.4% higher, with Aramex (ARMX.DU) soaring 14.9%, its biggest intraday gain since Jan. 2009, after a direct deal worth 1.41 billion dirhams ($383.90 million) for its 295 million shares.On Tues...
Tags: Travel, Saudi Arabia, Qatar, Egypt, United Arab Emirates, Dubai, Abu Dhabi, Doha, Uae, Gulf, Reuters, Aramex, Adi, Tasi, Rupert Neil Bumfrey, Reuters Dubai


World top LNG exporter #Qatar forms ministry of environment and climate change | Reuters

World top LNG exporter Qatar forms ministry of environment and climate change | Reuters Qatar, the world's top exporter of liquefied natural gas, has created a new ministry for the environment and climate change under a government reshuffle announced on Tuesday by the emir of the Gulf state.The decision comes as the UN climate change conference is due to convene in Glasgow, Scotland, at the end of the month. [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Qatar, Un, Gulf, Reuters, Glasgow Scotland, Rupert Neil Bumfrey, Reuters Qatar


#Saudi index hits 15-year peak as most Gulf bourses gain | Reuters

Saudi index hits 15-year peak as most Gulf bourses gain | Reuters Saudi stocks scaled a more than 15-year high on Tuesday, rising for a fifth session in six and leading gains in the Gulf as crude oil prices reversed earlier losses.Oil prices recouped earlier losses as falling temperatures in China, the world's biggest energy consumer, revived concerns about its ability to meet heating demand needs amid power and coal shortages.Saudi Arabia's benchmark stock index (.TASI) rebounded 0.4%, touchi...
Tags: Travel, Saudi Arabia, China, Dubai, Abu Dhabi, Kashmir, Gulf, Reuters, Jammu, Tasi, ADNOC, Etihad Etisalat, Rupert Neil Bumfrey, QSI, Al Rajhi Bank, Masraf Al Rayan


#AbuDhabi outperforms Gulf markets; Saudi retreats | Reuters

Abu Dhabi outperforms Gulf markets; Saudi retreats | Reuters Most stock markets in the Gulf ended higher on Monday, mirroring strong oil prices, although the Saudi index snapped a four-day winning streak on profit taking.Oil prices hit multi-year highs buoyed by recovering demand and high natural gas and coal prices encouraging users to switch to fuel oil and diesel for power generation.Saudi Arabia's benchmark index (.TASI) eased 0.1%, hit by a 1.5% fall in petrochemical maker Saudi Basic...
Tags: Travel, Saudi Arabia, Egypt, United Arab Emirates, Dubai, Abu Dhabi, Bahrain, Gulf, Reuters, Qatar National Bank, Tasi, Rupert Neil Bumfrey, Saudi Basic Industries, First Abu Dhabi Bank FAB, Emirates Telecommunications Group Etisalat, Commercial International Bank COMI


#Saudi index hits multi-year peak as Gulf bourses end higher | Reuters

Saudi index hits multi-year peak as Gulf bourses end higher | Reuters Major stock markets in the Gulf ended higher on Sunday amid strong oil prices, with the Saudi index hitting a multi-year peak as the country eased coronavirus curbs.The kingdom is rolling back COVID-19 restrictions from Oct. 17 in response to a sharp drop in daily infections and a considerable development in vaccinations. read moreSaudi Arabia has also lifted social distancing measures and will allow full-capacity attend...
Tags: Travel, Saudi Arabia, Dubai, Mecca, Abu Dhabi, Medina, Gulf, Reuters, Reuters Major, Grand Mosque, IHC, Suhail Al Mazrouei, Tasi, Rupert Neil Bumfrey, Abu Dhabi Commercial Bank ADCB, QSI


#Saudi leads major Gulf markets higher | Reuters

Major stock markets in the Gulf rose in early trade on Sunday amid strong oil prices, with the Saudi index outperforming the region as the country eased coronavirus curbs.The kingdom is rolling back COVID-19 restrictions from Oct. 17 in response to a sharp drop in daily infections and a considerable development in vaccinations. read moreThe authorities also cancelled curbs on fully vaccinated people at closed venues, restaurants and cinemas, and on transportation.Saudi Arabia's benchmark index (...
Tags: Travel, Saudi Arabia, Dubai, Abu Dhabi, Spa, Gulf, Reuters, Adi, IHC, Suhail Al Mazrouei, Jabal Omar, Tasi, Rupert Neil Bumfrey, Abu Dhabi Commercial Bank ADCB, Al Rajhi Bank, UAE Energy


European travelers to drive Gulf tourism recovery with arrivals expected to reach 13.3 million by 2024, says GlobalData

European travelers are set to become a key source market for the Gulf region, especially Gulf Cooperation Council (GCC) countries, which will help their post pandemic tourist industry recovery. Countries in the GCC include the United Arab Emirates, Saudi Arabia, Qatar, Oman, Kuwait and Bahrain and they all offer a good range of flight options and a varied tourism product, which appeals to European travelers, says GlobalData, a leading data and analytics company.
Tags: Travel, GCC, Bahrain, Gulf, Gulf Cooperation Council GCC, GlobalData


MIDEAST STOCKS Most Gulf exchanges track oil prices higher | Reuters

MIDEAST STOCKS Most Gulf exchanges track oil prices higher | Reuters Most stock markets in the Gulf ended higher on Thursday amid rising oil prices, with oil behemoth Saudi Aramco nearing a $2 trillion valuation.Oil prices rose by about 1% after the International Energy Agency said that record natural gas prices would boost demand for oil and top oil producer Saudi Arabia dismissed calls for additional OPEC+ supply.Saudi Arabia's benchmark index (.TASI) closed 0.6% higher, with Yanbu Natio...
Tags: Travel, Europe, Saudi Arabia, Opec, Egypt, Dubai, Abu Dhabi, Uae, Gulf, Reuters, Saudi Aramco, International Energy Agency, Adi, Middle East Africa, Tasi, Rupert Neil Bumfrey


MIDEAST STOCKS Most Gulf indexes rise in early trade; #AbuDhabi falls | Reuters

MIDEAST STOCKS Most Gulf indexes rise in early trade; Abu Dhabi falls | Reuters Most major Gulf stock markets rose in early trade on Thursday amid rising oil prices, with the Saudi index on track for a third straight weekly gain.Oil prices reversed previous losses as a bigger-than-expected draw in U.S. gasoline and distillate stocks prompted buying.The uptick was also supported by expectations that soaring natural gas prices as winter approaches will drive a switch to oil to meet heating deman...
Tags: Travel, Saudi Arabia, Wam, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Fitch Ratings, Tasi, Rupert Neil Bumfrey, Abudhabi, First Abu Dhabi Bank FAB, Yanbu National Petrochemicals Co, Emirates NBD Bank ENBD, Qatar National Bank QNBK QA


MIDEAST STOCKS #Saudi outperforms major Gulf bourses after IMF forecast | Reuters

MIDEAST STOCKS Saudi outperforms major Gulf bourses after IMF forecast | Reuters Most major stock markets in the Gulf were little changed on Wednesday, amid inflation fears, while the Saudi index outperformed the region after the International Monetary Fund raised its economic growth forecast.Investors are worried about the economic slowdown and inflation, which is proving less temporary and could entail central banks to take action earlier than expected, said Wael Makarem, senior market s...
Tags: Travel, Saudi Arabia, Dubai, International Monetary Fund, Abu Dhabi, Imf, Gulf, Reuters, DP World, Emaar, Tasi, Rupert Neil Bumfrey, Industries Qatar, QSI, Gulf Egypt, Abu Dhabi Securities Exchange ADX


#UAE Approves Four-Year Federal Budget Focused on Social Spending - Bloomberg

UAE Approves Four-Year Federal Budget Focused on Social Spending - Bloomberg The United Arab Emirates approved its federal budget to 2026 and focused most of next year’s spending on social benefits and development. The Gulf country approved a total of 58.9 billion dirhams ($16 billion) of spending in 2022, nearly the same as last year. Most of the spending is going to development and social benefits, according to the state-run WAM news agency. Nearly 16% will go to higher education, 6% to soc...
Tags: Travel, Wam, United Arab Emirates, Dubai, Uae, Gulf, Fitch, Rupert Neil Bumfrey, Moody 's Investors Service, Social Spending Bloomberg, Ras Al Khaimah During


#AbuDhabi launches 5 billion dirham IPO fund -media office | Reuters

Abu Dhabi launches 5 billion dirham IPO fund -media office | Reuters Abu Dhabi's Supreme Council for Financial and Economic Affairs on Tuesday launched a 5 billion dirham ($1.4 billion) IPO fund to strengthen the Abu Dhabi Securities Exchange (ADX) as a leading stock market, the emirate's media office said in a tweet.The IPO fund will invest in five to 10 private companies per year, with a focus on small and medium enterprises (SMEs). It will have a target ticket size of between 10% and 40% of...
Tags: Travel, Abu Dhabi, Gulf, Reuters, Abu Dhabi National Oil Co ADNOC, Rupert Neil Bumfrey, Mubadala, Abu Dhabi Securities Exchange ADX


Rebranded #Qatar Energy touts broad strategy, no plans to sell assets | Reuters

Rebranded Qatar Energy touts broad strategy, no plans to sell assets | Reuters Qatar changed the name of its state-owned oil and gas firm to Qatar Energy from Qatar Petroleum to reflect what it said was a broader strategy but said it had no plans to sell assets to raise funds as other Gulf state producers have."We have plenty of cash," Chief Executive Saad al-Kaabi said on Monday, indicating the Qatari firm would not follow in the footsteps of Gulf rivals which have sold assets, such as Saudi ...
Tags: Travel, Qatar, Gulf, Reuters, Saudi Aramco, Rupert Neil Bumfrey, Reuters Qatar, Qatar Petroleum, Abu Dhabi National Oil Company Adnoc, Saad al Kaabi, Kaabi, Qatar Energy, Rebranded Qatar Energy


MIDEAST STOCKS Major Gulf bourses end mixed; ACWA Power surges on debut | Reuters

MIDEAST STOCKS Major Gulf bourses end mixed; ACWA Power surges on debut | Reuters Major stock markets in the Gulf ended mixed on Monday, with the Saudi index extending losses from the previous session.Saudi Arabia's benchmark index (.TASI) dropped 0.5%, with Dr Sulaiman Al-Habib Medical Services (4013.SE) declining 1.1%, while Al Rajhi Bank (1120.SE) was down 0.2%.The Saudi stock market fell as traders took profits after the main index reached a new interim high, said Wael Makarem, senior ...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Abu Dhabi, Gulf, Reuters, Saudi Aramco, ACWA Power, Reuters Major, QNB, Tasi, Rupert Neil Bumfrey, QSI, Qatar National Bank QNB, Al Rajhi Bank


#UAE, Syria agree on plans to enhance economic cooperation - ministry | Reuters

UAE, Syria agree on plans to enhance economic cooperation - ministry | Reuters The United Arab Emirates' economy ministry said on Sunday that the Gulf state and Syria had agreed on future plans to enhance economic cooperation and explore new sectors.The ministry wrote on Twitter that the value of non-oil trade between the two countries in the first half of 2021 was one billion dirhams ($272 million).The UAE re-opened its mission to Damascus in late 2018 in a bid to counter the influence of non...
Tags: Travel, Russia, Turkey, Iran, Syria, United Arab Emirates, Damascus, Uae, Bashar Al Assad, Gulf, Reuters, Rupert Neil Bumfrey, UAE Syria


MIDEAST STOCKS #Saudi snaps 4-day winning streak as Gulf bourses end mixed | Reuters

MIDEAST STOCKS Saudi snaps 4-day winning streak as Gulf bourses end mixed | Reuters Major stock markets in the Gulf ended mixed on Sunday, with the Saudi index giving up early gains to close 0.2% lower, snapping a four-session winning streak.On Saudi Arabia's benchmark index (.TASI), Saudi Telecom Company (7010.SE) fell 1.3%, while SABIC Agri-Nutrients Co (2020.SE) retreated 2.2%.Among other losers, Almarai (2280.SE) declined 2.2% after the Gulf's largest dairy company reported a quarterly...
Tags: Travel, Saudi Arabia, Egypt, Dubai, Abu Dhabi, Cbre, Gulf, Reuters, Adi, Reuters Major, IHC, Qatar National Bank, CBRE Group, Rupert Neil Bumfrey, QSI, Gulf Egypt


MIDEAST STOCKS Major Gulf bourses mixed in early trade | Reuters

MIDEAST STOCKS Major Gulf bourses mixed in early trade | Reuters Major stock markets in the Gulf were mixed in early trade on Sunday, with the Saudi Index outperforming the region amid rising oil prices.Oil rose on Friday, gaining about 4% on the week as a global energy crunch boosted U.S. prices to their highest in almost seven years, with big power users struggling to meet demand. read moreSaudi Arabia's benchmark index (.TASI) gained 0.6%, led by a 3.4% rise in Al Rajhi Bank (1120.SE) and 1...
Tags: Travel, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Reuters Major, IHC, CBRE Group, Tasi, Rupert Neil Bumfrey, QSI, Al Rajhi Bank, Emaar Properties EMAR, Commercial Bank COMB QA, Alpha Dhabi Holding ALPHADHABI


U.K. Starts Trade Deal Process With #SaudiArabia, Gulf - Bloomberg

U.K. Starts Trade Deal Process With Saudi Arabia, Gulf - Bloomberg The U.K. kicked off the process to sign a trade deal with Saudi Arabia and a group of other Gulf states, its latest post-Brexit target as it seeks deeper economic ties beyond the European Union.Negotiations for a pact between Britain and the Gulf Cooperation Council, whose members also include Qatar, Bahrain and Oman, aim to start in 2022 following a 14-week consultation with the public and businesses, the U.K.’s Department for...
Tags: Travel, Australia, Saudi Arabia, International Trade, Eu, Joe Biden, Britain, GCC, Premier League, New Zealand, Mike Ashley, Oman, Boris Johnson, Johnson, Gulf, Liz Truss


LNG Exporter #Qatar Warns Gas Prices Are at Unhealthy Levels - Bloomberg

LNG Exporter Qatar Warns Gas Prices Are at Unhealthy Levels - Bloomberg Qatar, the world’s biggest exporter of liquefied natural gas, warned that prices have climbed to “unhealthy” levels.“While natural gas prices are an outcome of basic market fundamentals including supply and demand, the current price levels observed in global markets are unhealthy for both producers and consumers,” the Gulf nation’s Energy Minister Saad Al-Kaabi said after a virtual discussion with Kadri Simson, the Europea...
Tags: Travel, Energy, Asia, Europe, Vladimir Putin, Russia, Qatar, Bloomberg, European Union, Moscow, Gulf, Rupert Neil Bumfrey, Saad al Kaabi, Kaabi, Kadri Simson, Unhealthy Levels Bloomberg Qatar


MIDEAST STOCKS Most Gulf bourses end higher; #Qatar falls | Reuters

MIDEAST STOCKS Most Gulf bourses end higher; Qatar falls | Reuters Most stock markets in the Gulf ended higher on Thursday, in line with global equities, although the Qatari index bucked the trend to close lower.World stock markets got their foot back on the gas as hopes grew that Washington could resolve its debt-ceiling squabbles and a global drop in energy prices tempered deepening fears of "stagflation".Saudi Arabia's benchmark index (.TASI) added 0.2%, helped by a 0.9% gain in Al Rajh...
Tags: Travel, Washington, Saudi Arabia, Qatar, Iran, United Arab Emirates, Dubai, Abu Dhabi, Beirut, Cbre, Gulf, Reuters, Riyadh, U S Federal Reserve, Adi, Hossein Amirabdollahian


#Oman budget deficit shrinks due to higher oil prices | Reuters

Oman budget deficit shrinks due to higher oil prices | Reuters Oman posted a year-to-date budget deficit of around 1 billion rials ($2.60 billion) in August, a 46.2% annual decline in its fiscal shortfall, the ministry of finance said, benefiting from higher oil prices.Year-to-date state revenues increased by 13.9% to 6.3 billion rials by the end of August when compared to the same period last year."Such an increase is reflected by improved oil and gas prices over the past months", the ministr...
Tags: Travel, Oman, Gulf, Reuters, Reuters Oman, Rupert Neil Bumfrey


MIDEAST STOCKS Major Gulf indexes rise, Aramco hits $2 trillion valuation | Reuters

MIDEAST STOCKS Major Gulf indexes rise, Aramco hits $2 trillion valuation | Reuters Major Gulf stock markets tracked Asian shares higher on Thursday, with banks leading gains and oil giant Saudi Aramco hitting a $2 trillion valuation.Asian shares rose, supported by a possible easing in U.S.-China tensions and weaker energy prices, as oil edged down from multi-year highs. read moreA rally in oil prices had been a major contributor to a selloff in equities this week.Saudi Arabia's benchmark inde...
Tags: Travel, Saudi Arabia, China, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Riyadh, Aramco, Saudi Aramco, U S Federal Reserve, Emaar, Tasi, Rupert Neil Bumfrey, Saudi Basic Industries


MIDEAST STOCKS #Saudi index at 14-year high, other gulf indexes mixed | Reuters

MIDEAST STOCKS Saudi index at 14-year high, other gulf indexes mixed | Reuters Saudi Arabia's stock market edged up to its highest in nearly 14 years on Wednesday as oil prices rose, while performances across other major Gulf bourses were mixed.Oil hit a multi-year high above $83 a barrel, supported by an OPEC+ refusal to ramp up production more rapidly against a backdrop of concern about tight energy supply globally.Saudi Arabia's benchmark index (.TASI) was 0.1% higher, with Al Rajhi Ban...
Tags: Travel, Saudi Arabia, Opec, Dubai, Abu Dhabi, Gulf, Reuters, Aramco, Qatar National Bank, Tasi, Saudi Telecom Company, Rupert Neil Bumfrey, Al Rajhi Bank, Gulf Egypt, First Abu Dhabi Bank FAB, Emirates Telecommunications Group Etisalat


MIDEAST STOCKS #Saudi index leads mixed markets with 14-year high | Reuters

Stock markets in the Gulf region ended mixed on Tuesday, though the Saudi bourse rose to its highest in nearly 14 years on the back of stronger oil prices."The cautious atmosphere among investors has pushed the GCC stock markets in different directions. The economic slowdown and the strong inflation remain the main points of concern," said Wael Makarem, senior market strategist at Exness.Saudi Arabia's benchmark index (.TASI) finished 0.8% higher, with Al Rajhi Bank (1120.SE) rising 2.2%, wh...
Tags: Travel, Energy, Opec, GCC, Middle East, United Arab Emirates, Abu Dhabi, Gulf, Reuters, Tasi, Rupert Neil Bumfrey, QSI, Al Rajhi Bank, Gulf Egypt, First Abu Dhabi Bank, Emirates Integrated Telecommunications Du


MIDEAST STOCKS Major Gulf bourses mixed in early trade | Reuters

MIDEAST STOCKS Major Gulf bourses mixed in early trade | Reuters Major stock markets in the Gulf delivered a mixed performance early on Tuesday, with the Saudi index outperforming the region as oil prices rose.Saudi Arabia's benchmark index (.TASI) gained 0.4%, with Al Rajhi Bank (1120.SE) gaining 1.3% and Saudi Aramco (2222.SE), the world's largest oil exporter, up 1.2%.Aramco will complete its 1 million barrel per day (bpd) oil output expansion project by 2027 to bring its total production t...
Tags: Travel, Saudi Arabia, Middle East, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Aramco, Adi, Reuters Major, Tasi, Rupert Neil Bumfrey, Industries Qatar, QSI, Al Rajhi Bank


#UAE non-oil private sector grows but employment slows down in Sept -PMI | Reuters

UAE non-oil private sector grows but employment slows down in Sept -PMI | Reuters The United Arab Emirates' non-oil private sector continued to expand in September as recovery from the COVID-19 pandemic in the Middle East trade and tourism hub remained strong, although job creation slowed, a business survey showed on Tuesday.The seasonally adjusted IHS Markit UAE Purchasing Managers' Index (PMI), which covers manufacturing and services, dipped slightly to 53.3 in September from 53.8 in August,...
Tags: Travel, Middle East, United Arab Emirates, Dubai, Uae, Gulf, Reuters, Rupert Neil Bumfrey, IHS Markit UAE


MIDEAST STOCKS Major Gulf bourses end mixed as global recovery concerns weigh | Reuters

MIDEAST STOCKS Major Gulf bourses end mixed as global recovery concerns weigh | Reuters Major stock markets in the Gulf region ended mixed on Monday, amid concerns about a recovery in the global economy, although rising oil prices provided some support.GCC stock markets moved in different directions as investors remain worried about the global economic slowdown and how more durable inflation will have an impact on monetary policy, said Wael Makarem, senior market strategist at Exness.World...
Tags: Travel, China, Opec, GCC, Oman, Abu Dhabi, Gulf, Reuters, Reuters Major, Qatar National Bank, Emaar, Tasi, Rupert Neil Bumfrey, QSI, Al Rajhi Bank, Gulf Egypt


ESG drills deeper into Gulf oil IPOs | Reuters

ESG drills deeper into Gulf oil IPOs | Reuters On most counts, the of Abu Dhabi National Oil Company’s exploration services subsidiary counts as a success. ADNOC Drilling (ADNOCDRILL.AD) priced its enlarged sale of 11% of the company conservatively and was rewarded with a 30% pop on Sunday read more . The group’s current $13 billion valuation means it now trades at a slight premium to fellow oil services group Baker Hughes (BKR.N), which retains a 5% stake.The successful market debut shrugge...
Tags: Travel, United Arab Emirates, ESG, Gulf, Reuters, Rupert Neil Bumfrey, Abu Dhabi National Oil Company, ADNOC Drilling, Baker Hughes BKR N, ADNOC Drilling ADNOCDRILL



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