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Oil Sinks Toward Weekly Loss as Virus Makes Comeback in Asia - Bloomberg

Oil Sinks Toward Weekly Loss as Virus Makes Comeback in Asia - Bloomberg PRICES: WTI for June delivery fell 0.6% to $63.41 a barrel on the New York Mercantile Exchange at 7:05 a.m. in London.Brent for July settlement eased 0.7% to $66.61 a barrel on the ICE Futures Europe exchange.Prices are 2.4% lower this week. Oil headed for the biggest weekly drop since early April as countries in Asia continue to fight persistent Covid-19 outbreaks, highlighting the patchy recovery from the pa...
Tags: Travel, Asia, Europe, Japan, London, China, Southeast Asia, Singapore, India, Federal Reserve, Latin America, International Energy Agency, New York Mercantile Exchange, Rupert Neil Bumfrey, IHS Markit, Asia Bloomberg


#Dubai Business Growth Back to Pre-Covid Path as Vaccines Pay Off - Bloomberg

Dubai Business Growth Back to Pre-Covid Path as Vaccines Pay Off - Bloomberg Business activity in Dubai rose to the highest level since late 2019 after a rebound in tourism and a fast distribution of coronavirus vaccines.The private sector, excluding oil, grew for a fifth-straight month in April, according to IHS Markit. Its Purchasing Managers’ Index for the Middle East’s main business hub rose to 53.5 from 51 in March, staying above the 50-mark that separates growth from contraction and sign...
Tags: Travel, Bloomberg, Middle East, Dubai, David Owen, Bloomberg Business, IHS, Rupert Neil Bumfrey, IHS Markit


#UAE non-oil private sector keeps growing in April - PMI | Reuters

UAE non-oil private sector keeps growing in April - PMI | Reuters Business conditions in the United Arab Emirates non-oil private sector continued to improve in April, with new business growth reaching a 20-month high, a survey showed on Tuesday, as the Gulf state's economy recovers from the COVID-19 pandemic.The seasonally adjusted IHS Markit UAE Purchasing Managers' Index (PMI), which covers manufacturing and services, edged up to 52.7 in April from 52.6 in March.This was its highest level s...
Tags: Travel, United Arab Emirates, Uae, Gulf, Reuters, David Owen, Reuters Business, Rupert Neil Bumfrey, IHS Markit, COVID


#Saudi non-oil business activity hits three-month high in April - PMI | Reuters

Saudi non-oil business activity hits three-month high in April - PMI | Reuters Business activity in Saudi Arabia's non-oil private sector hit a three-month high in April and employment grew for the first time in five months, a survey showed on Tuesday, as the kingdom shows signs of recovering from the coronavirus pandemic.The seasonally adjusted IHS Markit Saudi Arabia Purchasing Managers' Index (PMI) rose to 55.2 in April from 53.3 in March, remaining above the 50 mark that separates expansio...
Tags: Travel, Saudi Arabia, Reuters, IHS, Reuters Business, Rupert Neil Bumfrey, IHS Markit, COVID, David Owen Economist


#Dubai Business Activity Flat as Supply Shortages, Tourism Weigh - Bloomberg

Dubai Business Activity Flat as Supply Shortages, Tourism Weigh - BloombergBusiness conditions in Dubai remained flat last month even as the Middle East’s business hub showed signs of recovery from the pandemic.“Global supply difficulties washed up on Dubai’s shores in March,” wrote David Owen, economist at IHS Markit. “This will constrain profit margins as competitive pressures and efforts to aid the recovery in demand led firms to lower output charges.”IHS Markit’s Purchasing Managers’ Index r...
Tags: Travel, Bloomberg, Middle East, Dubai, David Owen, Rupert Neil Bumfrey, IHS Markit


Builders and Vaccines Power #UAE Business Growth Near 2-Year High - Bloomberg

Builders and Vaccines Power UAE Business Growth Near 2-Year High - BloombergBusiness conditions in the United Arab Emirates improved at the fastest pace in 20 months, taking a sharp turn for the better with the vaccine rollout and an upswing in construction work.Non-oil private sector activity grew for a fourth month in March, the longest run of expansion since late 2019, according to IHS Markit. Its UAE Purchasing Managers’ Index rose to 52.6 from 50.6 in February.By contrast, Saudi Arabia’s re...
Tags: Travel, Saudi Arabia, United Arab Emirates, Rupert Neil Bumfrey, IHS Markit


#Saudi non-oil private sector keeps up steady growth in March - PMI | Reuters

Saudi non-oil private sector keeps up steady growth in March - PMI | ReutersSaudi Arabia’s non-oil private sector grew for the seventh straight month in March, albeit at a slower pace, with output and new orders expanding more moderately than a month earlier, a survey showed on Monday.The seasonally adjusted IHS Markit Saudi Arabia Purchasing Managers’ Index (PMI) fell slightly to 53.3 in March from 53.9 in February, remaining above the 50 mark that separates expansion from contraction.The overa...
Tags: Travel, Reuters, David Owen, Rupert Neil Bumfrey, IHS Markit, IHS Markit Saudi Arabia


#UAE March non-oil private sector growth climbs to 20-month high - PMI | Reuters

UAE March non-oil private sector growth climbs to 20-month high - PMI | ReutersThe United Arab Emirates’ non-oil private sector grew in March at the fastest pace since July 2019, boosted by new business and a sharp rise in the construction sector, a survey showed on Monday.The seasonally adjusted IHS Markit UAE Purchasing Managers’ Index (PMI), which covers manufacturing and services, rose to 52.6 in March from 50.6 in February, hitting a 20-month high and indicating a solid upturn in business c...
Tags: Travel, Reuters, David Owen, Rupert Neil Bumfrey, IHS Markit, IHS Markit UAE, ReutersThe United Arab Emirates


Analysis: #Qatar tightens global gas market grip with bold expansion moves | Reuters

Analysis: Qatar tightens global gas market grip with bold expansion moves | ReutersQatar Petroleum, the world’s top liquefied natural gas (LNG) producer, is cranking up the pressure on high-cost rivals with bold expansion plans that will boost supplies over the coming decade and potentially push prices down further.As competitors struggle to break even due to lower prices, the Qatari firm last month announced it will boost LNG output by about 40% to 110 million tonnes per annum (mtpa) by 2026 in...
Tags: Travel, South Korea, Japan, Qatar, Credit Suisse, Reuters, LNG, Rupert Neil Bumfrey, IHS Markit, North Field, Chong Zhi Xin, ReutersQatar Petroleum the world, Saul Kavonic


#Dubai's business recovery continues, but travel and tourism sector curbs growth | ZAWYA MENA Edition

Dubai's business recovery continues, but travel and tourism sector curbs growth | ZAWYA MENA EditionBusiness conditions in Dubai continued to strengthen in February as output and employment numbers rose amid growing confidence among firms for a strong economic recovery in 2021.However, the rate of expansion was stymied by a renewed fall in new business inflows that was centered on the travel & tourism sector, a new survey from HIS Markit said.The seasonally adjusted IHS Markit Dubai Purchasing M...
Tags: Travel, Dubai, Mena, Rupert Neil Bumfrey, IHS Markit, IHS Markit Dubai Purchasing Managers Index PMI, HIS Markit


The LNG King Embarks on Sales Campaign After Approving Expansion - Bloomberg #Qatar

The LNG King Embarks on Sales Campaign After Approving Expansion - Bloomberg Executives from the top exporter of liquefied natural gas are jetting around the globe in a whirlwind bid to strike competitive deals with the fastest growing customers. They need to.Qatar, the world’s largest producer of the fuel, last month approved a $29 billion plan to boost capacity at its LNG export facility by 64% this decade, and is now urgently seeking to lock-in contracts and undercut rival developers from the...
Tags: Travel, Australia, India, Qatar, Pakistan, Royal Dutch Shell, Imran Khan, Bangladesh, Shell, South Asia, Pakistan Bangladesh, Rupert Neil Bumfrey, IHS Markit, Qatar Petroleum, Saad al Kaabi, Bloomberg Executives


Rising COVID-19 cases affected #UAE's non-oil private sector in February - PMI | ZAWYA MENA Edition

Rising COVID-19 cases affected UAE's non-oil private sector in February - PMI | ZAWYA MENA Edition UAE's non-oil private sector businesses faced fresh disruptions in February as rising COVID-19 cases hampered sales and affected businesses.Business expectations improved, but only gradually as restrictions led to further uncertainty about short-term growth prospects despite hopes for a rebound in the latter half of 2021, a survey showed on Wednesday.The seasonally adjusted IHS Markit UAE Purchasin...
Tags: Travel, Uae, Rupert Neil Bumfrey, IHS Markit, COVID, David Owen Economist


#Dubai falls; #AbuDhabi, #Saudi manage narrow gains | Reuters

Dubai falls; Abu Dhabi, Saudi manage narrow gains | Reuters The Dubai stock market weakened on Wednesday, the benchmark’s fifth fall in the last six sessions, while Abu Dhabi and Saudi Arabia eked out marginal gains as sentiment was mixed in the wider Gulf region.Dubai, the trade and tourism hub in the Middle East, declined 0.6% as a recent spike in coronavirus cases in the United Arab Emirates further hamper the emirate’s recovery hopes despite the country’s fast vaccination rate.Travel and tou...
Tags: Travel, Saudi Arabia, Qatar, Middle East, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Aramex, National Commercial Bank NCB, NCB, Rupert Neil Bumfrey, Abu Dhabi Islamic Bank, IHS Markit, Aldar Properties


#Dubai Business Activity Barely Grows With Restrictions Reimposed - Bloomberg

Dubai Business Activity Barely Grows With Restrictions Reimposed - Bloomberg Non-oil companies in Dubai increased output for the second month in a row in January but the uptick was marginal in the emirate where authorities have reimposed some restrictive measures imposed to curb the spread of Covid-19.The non-oil private sector economy in the Middle East’s business hub improved fractionally last month, according to IHS Markit. While its Purchasing Managers’ Index fell to 50.6 in January from 51 ...
Tags: Travel, Middle East, Dubai, Uae, David Owen, Rupert Neil Bumfrey, IHS Markit


#UAE Job Market Improves as Vaccine Rollout Boosts Confidence - Bloomberg

UAE Job Market Improves as Vaccine Rollout Boosts Confidence - Bloomberg Business activity in the Arab world’s two largest economies improved at the start of 2021, with the United Arab Emirates seeing growth in its job market for the first time in over a year.Non-oil private sector activity in Saudi Arabia soared during January as new work levels increased and operating conditions improved marginally in neighboring UAE, helped by an expansion in new orders and output.Purchasing Managers’ Index s...
Tags: Travel, Saudi Arabia, Bloomberg, United Arab Emirates, Uae, Gulf, David Owen, Rupert Neil Bumfrey, IHS Markit


#Saudi non-oil private sector continues solid growth in January -PMI | Reuters

Saudi non-oil private sector continues solid growth in January -PMI | Reuters Saudi Arabia’s non-oil private sector grew strongly in January, its fifth straight month of expansion, as output soared and firms were hopeful of a substantial economic recovery, a survey showed on Wednesday.The seasonally adjusted IHS Markit Saudi Arabia Purchasing Managers’ Index (PMI) rose slightly to 57.1 in January from 57.0 in December. The 50.0 mark separates growth from contraction.The January and December read...
Tags: Travel, Reuters, David Owen, Reuters Saudi Arabia, Rupert Neil Bumfrey, IHS Markit, IHS Markit Saudi Arabia


#Dubai non-oil sector returns to modest growth in December - PMI | Reuters

Dubai non-oil sector returns to modest growth in December - PMI | Reuters Dubai’s non-oil sector returned to growth in December, but the expansion was modest as employment fell and sentiment for the new year was subdued, a survey showed on Monday.The seasonally adjusted IHS Markit Dubai Purchasing Managers’ Index (PMI) rose to 51 in December from 49 in November, rising above the 50-mark that separates growth from contraction for the first time since September.“An increase in output and new order...
Tags: Travel, Middle East, Dubai, Reuters, David Owen, Rupert Neil Bumfrey, Reuters Dubai, IHS Markit, IHS Markit Dubai


#Saudi, #UAE Business Conditions Improve, Though Employment Falls - Bloomberg

Saudi, UAE Business Conditions Improve, Though Employment Falls - Bloomberg Business activity in the Arab world’s two largest economies improved at the end of last year, with Saudi Arabia seeing its strongest expansion in 13 months.After 2020 setbacks caused by the spread of Covid-19 and lower crude prices, non-oil private sector economies in the United Arab Emirates and neighboring Saudi Arabia still faced job losses as firms adjusted to the challenges of the global pandemic.Purchasing Managers...
Tags: Travel, Saudi Arabia, United Arab Emirates, Gulf, David Owen, Bloomberg Business, Rupert Neil Bumfrey, IHS Markit


'There is hardly any gas': LNG price rally exacerbates gas crunch in Asia | Reuters

'There is hardly any gas': LNG price rally exacerbates gas crunch in Asia | Reuters Surging spot prices for liquefied natural gas (LNG) are exacerbating a gas supply crunch in key fast-growing emerging markets in Asia just as a cold spell in other parts of the region boosts demand for the fuel.Companies from Pakistan to China have cancelled a flurry of LNG tenders this week, several trade sources said, as lofty prices risk pushing up the input costs of industries, which could make energy more ex...
Tags: Travel, Asia, China, Qatar, Pakistan, Reuters, China India, Rupert Neil Bumfrey, IHS Markit, Australia Malaysia Norway, Chong Zhi Xin


#UAE News: #Dubai Business Conditions Worsen as Pandemic Weighs on Demand - Bloomberg

UAE News: Dubai Business Conditions Worsen as Pandemic Weighs on Demand - Bloomberg Business activity in Dubai dropped for a second month in November as the coronavirus pandemic continued to weigh on demand.The non-oil private sector economy in the Middle East’s business hub deteriorated last month to the lowest since May, according to IHS Markit. Its Purchasing Managers’ Index dipped to 49 from 49.9 in October, falling further below the 50 mark that separates growth from contraction.Employment ...
Tags: Travel, Bloomberg, Middle East, Dubai, David Owen, Bloomberg Business, IHS, Rupert Neil Bumfrey, IHS Markit, Dubai Business Conditions Worsen


#Dubai's business conditions take a hit but job market stabilises - PMI | ZAWYA MENA Edition

Dubai's business conditions take a hit but job market stabilises - PMI | ZAWYA MENA Edition Non-oil private sector businesses in Dubai saw a renewed fall in activity in November, as the impact of COVID-19 appeared to worsen amid rising global cases, according to the latest Purchasing Managers' Index (PMI) data from IHS Markit. However, job shedding eased to the weakest seen in the nine-month downturn, it said.Growth in new work eased to the weakest seen in five months, leading to a solid reduct...
Tags: Travel, Dubai, Uae, PMI, Rupert Neil Bumfrey, IHS Markit, COVID, David Owen Economist, IHS Markit However, IHS Markit Dubai Purchasing Managers Index


#UAE Business Conditions Worsen for Second Straight Month - Bloomberg

UAE Business Conditions Worsen for Second Straight Month - Bloomberg:  Business conditions in the United Arab Emirates deteriorated for a second straight month in November amid subdued demand.Non-oil private sector activity in the Gulf nation worsened last month partly due to the first decline in output since May, weak market conditions and lower customer numbers, according to IHS Markit. Its Purchasing Managers’ Index was unchanged from October at 49.5, staying below the 50 mark that separates ...
Tags: Travel, Europe, United Arab Emirates, Uae, Gulf, David Owen, IHS, Rupert Neil Bumfrey, IHS Markit


#UAE's non-oil business activity contracts in November over weak demand: PMI | ZAWYA MENA Edition

UAE's non-oil business activity contracts in November over weak demand: PMI | ZAWYA MENA Edition The UAE non-oil private sector economy suffered a further deterioration in business conditions during November, latest PMI data showed, in part caused by the first decline in activity since May.The seasonally adjusted IHS Markit UAE Purchasing Managers' Index (PMI), which covers manufacturing and services, stood at 49.5 in November, unchanged from October and staying below the 50.0 mark that separate...
Tags: Travel, Uae, Rupert Neil Bumfrey, IHS Markit, David Owen Economist


#Saudi Business Climate at 10-Month High; Egypt Growth Slows - Bloomberg

Saudi Business Climate at 10-Month High; Egypt Growth Slows - Bloomberg Business activity in Saudi Arabia grew at the fastest pace since the beginning of the year, fueled by a sharp rise in sales and strengthening sentiment.In Egypt, activity posted a third month of growth but at a slower rate, as confidence for the year ahead hit a record low on fears over the impact of a second wave of the virus on global markets.Non-oil private sector activity in Saudi Arabia rose to the highest level since J...
Tags: Travel, Saudi Arabia, Egypt, Rupert Neil Bumfrey, IHS Markit


#Dubai non-oil business conditions broadly unchanged; rise in activity expected | ZAWYA MENA Edition

Dubai non-oil business conditions broadly unchanged; rise in activity expected | ZAWYA MENA Edition Dubai's non-oil private sector registered the slowest output growth in five months according to the October PMI survey, signalling a setback for the economic recovery.At 49.9 in October, the seasonally adjusted IHS Markit Dubai Purchasing Managers' Index (PMI) indicated that business conditions across the non-oil private sector were broadly unchanged over the month. Falling from 51.5 in September,...
Tags: Travel, Dubai, Rupert Neil Bumfrey, IHS Markit, IHS Markit Dubai Purchasing Managers Index PMI, MENA Edition Dubai


#Dubai Business Conditions Sour, Reversing Third-Quarter Gains - Bloomberg

Dubai Business Conditions Sour, Reversing Third-Quarter Gains - Bloomberg Business conditions in Dubai dropped to the lowest levels since May amid a spike in coronavirus cases that threatens the city’s economic recovery.Non-oil private sector activity in the Middle East’s business hub slowed from levels seen during the third quarter of the year, according to IHS Markit. Its Purchasing Managers’ Index dipped to 49.9 last month from 51.5 in September, falling below the 50 mark that separates contr...
Tags: Travel, Bloomberg, Middle East, Dubai, David Owen, Bloomberg Business, IHS, Rupert Neil Bumfrey, IHS Markit, COVID


Mideast Stocks: Major Gulf markets mixed; Aramco's Q3 profit slides | ZAWYA MENA Edition

Mideast Stocks: Major Gulf markets mixed; Aramco's Q3 profit slides | ZAWYA MENA Edition Saudi Arabia's stock market closed lower on Tuesday hurt by a string of disappointing corporate earnings, while the Qatari index ended a three-session losing streak.The kingdom's benchmark index slipped 0.3%, with Saudi British Bank dropping 2.1% after it announced a 10.5% fall in third-quarter profit.National Industrialization Company (Tasnee) was down 2.3%, after it posted net loss in the quarter ending Se...
Tags: Travel, Saudi Arabia, Qatar, United Arab Emirates, Dubai, Aramco, Saudi Aramco, Rupert Neil Bumfrey, Industries Qatar, Dubai Islamic Bank, Commercial International Bank, IHS Markit, Saudi British Bank, Gulf Egypt, National Industrialization Company Tasnee, First Abu Dhabi Bank


#UAE non-oil private sector shrinks for second time in three months | Reuters

UAE non-oil private sector shrinks for second time in three months | Reuters The United Arab Emirates’ non-oil private sector slipped back into contraction in October for the second time in three months, a survey showed on Tuesday, stunting the country’s economic recovery from the coronavirus pandemic.The seasonally adjusted IHS Markit UAE Purchasing Managers’ Index (PMI), which covers manufacturing and services, fell to 49.5 in October from 51.0 in September, slipping below the 50.0 mark that s...
Tags: Travel, United Arab Emirates, Uae, Reuters, David Owen, Rupert Neil Bumfrey, IHS Markit, IHS Markit UAE


#Saudi, Egypt Business Activity Improves as #UAE Dealt Setback - Bloomberg

Saudi, Egypt Business Activity Improves as UAE Dealt Setback - Bloomberg Business activity in Egypt grew at its fastest pace in almost six years, buoyed by an uptick in new orders, while Saudi Arabia saw a second month of milder improvements.In the United Arab Emirates, meanwhile, non-oil private sector activity fell below the threshold of 50 that separates growth from contraction for the first time since August, according to IHS Markit’s Purchasing Managers’ Index. Concerns over further unemplo...
Tags: Travel, Saudi Arabia, Egypt, United Arab Emirates, Uae, Bloomberg Business, Rupert Neil Bumfrey, IHS Markit, UAE Dealt Setback Bloomberg


#UAE News: #Dubai Business Conditions Improve as Coronavirus Cases Spike - Bloomberg

UAE News: Dubai Business Conditions Improve as Coronavirus Cases Spike - Bloomberg:Business conditions in Dubai improved for the third straight month in September even as a renewed spike in coronavirus cases poses a threat to the city’s recovery.Non-oil private sector activity in the Middle East’s business hub fared better amid a rise in activity and new business, according to IHS Markit. Its Purchasing Managers’ Index rose to 51.5 last month from 50.9 in August, remaining above the 50 mark that...
Tags: Travel, Opec, Middle East, United Arab Emirates, Dubai, David Owen, IHS, Rupert Neil Bumfrey, IHS Markit



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