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Posts filtered by tags: Middle East[x]


 

Most Mideast Stocks Rise to Track Peers, Oil Higher: Inside EM - Bloomberg

Most Mideast Stocks Rise to Track Peers, Oil Higher: Inside EM - Bloomberg Most Middle East stock markets advanced, taking their cue from rising crude oil prices and gains elsewhere in emerging markets last week.Indexes in Saudi Arabia, Abu Dhabi, Bahrain and Oman climbed as much as 0.3%, while those in Dubai, Kuwait and Qatar slipped. The Tadawul All Share Index in Riyadh rose for the sixth consecutive session to trade at the highest level since July 2019.The prospect of the formal start to Pre...
Tags: Travel, Israel, Opec, Qatar, Bloomberg, Joe Biden, Iran, Middle East, Hassan Rouhani, Oman, Riyadh, CureVac, Dubai Kuwait, Rupert Neil Bumfrey, Boubyan Bank, Bloomberg Most


The Pandemic Has Broken Shale and Left Oil Markets in OPEC Hands - Bloomberg

The Pandemic Has Broken Shale and Left Oil Markets in OPEC Hands - Bloomberg OPEC’s oil ministers have a few challenges to consider at a crucial summit next week, but for the first time in years the shale boom won’t be at the top of the list.A devastating global pandemic and a reckoning with Wall Street appear to have broken the resolve of the shale wildcatters who turned the U.S. into the world’s biggest oil producer. Years of breakneck growth, at the expense of crude kingpins in the Middle Eas...
Tags: Travel, Russia, Opec, Middle East, U S Energy Information Administration, Pioneer Natural Resources Co, EOG Resources Inc, Occidental Petroleum Corp, Bill Thomas, Rupert Neil Bumfrey, Left Oil Markets, OPEC Hands Bloomberg, OPEC Hands Bloomberg OPEC, IHS Markit Rystad Energy Enverus


#SaudiArabia seeks to resolve #Qatar crisis as ‘gift’ to Joe Biden | Financial Times

Saudi Arabia seeks to resolve Qatar crisis as ‘gift’ to Joe Biden | Financial Times Saudi Arabia has stepped up its efforts to resolve its more than three-year dispute with Qatar after US president Donald Trump’s election defeat, according to people briefed on the talks.  The move to end the Gulf states’ blockade of their gas-rich neighbour is being perceived as an attempt by Crown Prince Mohammed bin Salman to curry favour with the incoming Biden administration and deliver a parting prese...
Tags: Travel, Washington, Saudi Arabia, US, Qatar, Joe Biden, Iran, Egypt, Middle East, Al Jazeera, Biden, Abu Dhabi, Tehran, Yemen, Donald Trump, Bahrain


BP to Invest More in Middle East’s ‘World-Leading’ Oil Fields - Bloomberg

BP to Invest More in Middle East’s ‘World-Leading’ Oil Fields - Bloomberg BP Plc said it will invest more money in Middle Eastern oil and natural-gas fields even as it transitions to renewable energy and tries to lower emissions.The company is a major producer in countries such as Iraq, where it operates the world’s third-largest oil field of Rumaila, the United Arab Emirates and Oman. It’s focusing on their low-cost oil, while also boosting output of gas, according to Stephen Willis, BP’s senio...
Tags: Travel, Iraq, Bloomberg, Middle East, United Arab Emirates, Oman, Bp, Abu Dhabi, Uae, Middle Eastern, Willis, Rumaila, Rupert Neil Bumfrey, Bloomberg BP Plc, Stephen Willis BP


#Qatar Inks Deal for Minority Stake in Turkish Stock Exchange - Bloomberg

Qatar Inks Deal for Minority Stake in Turkish Stock Exchange - Bloomberg Qatar announced on Thursday a series of high-profile investments in Turkey, its biggest ally in a years-long rift with Gulf heavyweights Saudi Arabia and the United Arab Emirates, including the purchase of a stake in the country’s main bourse.Doha-based sovereign wealth fund Qatar Investment Authority signed a memorandum of understanding with its Turkish counterpart known as TWF to purchase a 10% stake in Borsa Istanbul AS....
Tags: Travel, Saudi Arabia, Qatar, Turkey, Middle East, United Arab Emirates, Qatar Investment Authority, Recep Tayyip Erdogan, Istanbul, Doha, Gulf, Ankara, Hamad al Thani, Rupert Neil Bumfrey, Bloomberg Qatar, Turkish Stock Exchange Bloomberg


#Saudi, #AbuDhabi Wealth Funds Team Up on Egyptian Drugmaker Deal - Bloomberg

Saudi, Abu Dhabi Wealth Funds Team Up on Egyptian Drugmaker Deal - Bloomberg Two of the biggest sovereign wealth funds in the Middle East are exploring a joint bid for an Egyptian pharmaceutical company, a deal that could mark the beginning of wider co-investment plans between the two state-controlled firms, people familiar with the matter said.Saudi Arabia’s Public Investment Fund and ADQ, formerly known as Abu Dhabi Development Holding Co., are weighing the purchase of Bausch Health Cos.’s Cai...
Tags: Travel, Saudi Arabia, Bloomberg, Egypt, Middle East, Abu Dhabi, Pif, Cairo, Gulf, Bausch, Rupert Neil Bumfrey, Public Investment Fund, Louis Dreyfus Co, Abu Dhabi Development Holding Co, ADQ, Bausch Health Cos


#UAE's flydubai starts Dubai-Tel Aviv services after detente | Reuters

UAE's flydubai starts Dubai-Tel Aviv services after detente | Reuters United Arab Emirates airline flydubai started direct passenger flights to Israel on Thursday after the two countries normalised ties in a Washington-brokered deal.Israel and the UAE agreed in August to establish diplomatic relations, paving the way for economic cooperation. Bahrain and Sudan have also agreed to forge formal ties with Israel in deals brokered by the Trump administration and promoted as a strategic Middle East s...
Tags: Travel, Washington, Israel, Tel Aviv, Middle East, Dubai, Sudan, Bahrain, Uae, Trump, Reuters, Reuters United Arab Emirates, Rupert Neil Bumfrey, Dubai Tel Aviv, Iran Dubai


MIDEAST DEBT-Gulf bonds likely to set new record in 2021 amid budget squeeze | Reuters

MIDEAST DEBT-Gulf bonds likely to set new record in 2021 amid budget squeeze | Reuters International debt sales from the six-member Gulf Cooperation Council are likely to notch another record year in 2021 as governments need to fill wider deficits and corporates look to grab money on the cheap amid low rates.The oil-rich region saw a second consecutive year of record international bonds, topping $100 billion, as issuers’ finances were battered by the COVID-19 pandemic along with low oil prices, ...
Tags: Travel, Middle East, Gulf, North Africa, Reuters, Gulf Cooperation Council, Reuters International, Rupert Neil Bumfrey, Khalid Rashid, Deutsche Bank S P Global Ratings


Hyatt Announces Hyatt Loves Local Initiative in Support of Local Small Businesses Across the Globe

Driven by Hyatt's purpose to care for people so they can be their best, Hyatt Hotels Corporation (NYSE: H) announces today the Hyatt Loves Local initiative, a global effort by Hyatt hotels to uplift and collaborate with small businesses that have been impacted by the COVID-19 pandemic. Nearly 60 Hyatt hotels and resorts in destinations across the Americas, Asia Pacific, Europe and the Middle East are providing complimentary resources and exposure to select local businesses that have strug...
Tags: Travel, Middle East, Hyatt, Hyatt Hotels Corporation NYSE, Americas Asia Pacific Europe, Local Small Businesses Across the Globe


Deep losses for Middle East carriers to continue in 2021: IATA | ZAWYA MENA Edition

Deep losses for Middle East carriers to continue in 2021: IATA | ZAWYA MENA Edition Airlines in the Middle East will see an improvement in business next year after a difficult period in 2020, but they will continue to burn through cash, with estimated losses in the industry expected to reach $3.3 billion, according to the International Air Transport Association (IATA).The projected losses in 2021 will be nearly half this year’s revenue drop of $7.1 billion, which is still a “worrisome” picture f...
Tags: Travel, Africa, Middle East, IATA, International Air Transport Association IATA, Rupert Neil Bumfrey, MENA Edition Airlines, Muhammad Ali Albakri, Albakri


Guest Post: Debra Graham

  Like many of the other blog posters who have shared about themselves here, I’ve wondered if I should accept Corey’s invitation to tell a bit about my life. Don’t we all wonder if we are “good enough” or “ interesting enough? Finally, I thought I’d just throw that doubt out the window. So here’s a bit about me.     I’m a native Mainer now living in North Carolina, a change that has been a real culture shock. When my husband retires in a few years, we will move further north and also ho...
Tags: Travel, Instagram, France, Virginia, Berlin, Spain, Middle East, North Carolina, Anne, Corey, Garry, French la Vie, Debra Graham, Marimurtra Botanical Garden


Mubadala seeks Israeli partners on technology investment | Reuters

Mubadala seeks Israeli partners on technology investment | Reuters Abu Dhabi state investor Mubadala Investment Co plans to identify potential fund partners in Israel and find high-growth companies to co-invest in, the head of its ventures unit said on Wednesday.“There will be interesting opportunities with joint funds or joint ventures, but we are still early on in evaluating this,” Ibrahim Ajami told a financial technology conference in Abu Dhabi.He said Mubadala has co-invested with Israeli i...
Tags: Travel, Europe, China, India, Israel, United States, Middle East, Silicon Valley, Abu Dhabi, Uae, Reuters, United Arab Emirates UAE, Reuters Abu Dhabi, Rupert Neil Bumfrey, Mubadala, Mubadala Investment Co


Most Middle East markets end higher as investors cheer Biden transition, vaccine progress | Reuters

Most markets end higher as investors cheer Biden transition, vaccine progress | Reuters Most major Gulf markets closed higher on Tuesday, tracking gains on global bourses, helped by a formal transition nod for U.S. President-elect Joe Biden and new coronavirus vaccine developments.U.S. President Donald Trump on Monday gave the head of the General Services Administration the go-ahead to proceed with a transition to a government led by Biden despite plans to continue with legal challenges.Global f...
Tags: Travel, Saudi Arabia, Opec, Qatar, Joe Biden, Middle East, Dubai, General Services Administration, Biden, Abu Dhabi, Yemen, Donald Trump, Jeddah, Gulf, Reuters, Aramco


#Saudi Unicorn Looks Beyond Kingdom After Western Union Deal - Bloomberg

Saudi Unicorn Looks Beyond Kingdom After Western Union Deal - Bloomberg Saudi Arabian digital payments firm stc pay, which was valued at $1.3 billion in a funding agreement with Western Union this month, is set to become profitable “very soon” and is in talks with regulators to expand into neighboring countries.The company, launched by the kingdom’s biggest mobile operator Saudi Telecom Co. in late 2018, wants to offer digital payments across the six-nation Gulf Cooperation Council, Chief Execut...
Tags: Travel, Saudi Arabia, Digital, Middle East, Western Union, Mohammed bin Salman, Gulf Cooperation Council, STC, Rupert Neil Bumfrey, Saudi Telecom Co, Ahmed Alenazi, Alenazi


The Middle East Hotel Construction Pipeline Continues to Decline

According to the latest published Construction Pipeline Trend Report for the Middle East, analysts at Lodging Econometrics (LE) state at the end of the third quarter of 2020, the hotel construction pipeline in the Middle East declined again to 579 projects/168,042 rooms. The Middle East's pipeline is down 7% by projects and 6% by rooms year-over-year (YOY). This is the fifth consecutive quarter the pipeline has declined since reaching its cyclical peak by projects in Q2 2019.
Tags: Travel, Middle East, Lodging Econometrics LE


STR: Middle East and Africa hotel performance for October 2020

Hotels in both the Middle East and Africa recorded their highest absolute occupancy level since February, according to October 2020 data from STR.
Tags: Travel, Africa, Middle East


#SaudiArabia’s Acwa Power Set to Raise $1 Billion in Sukuk Sale - Bloomberg

Saudi Arabia’s Acwa Power Set to Raise $1 Billion in Sukuk Sale - Bloomberg Saudi Arabia’s Acwa Power International, half-owned by the kingdom’s sovereign wealth fund, is planning to raise about $1 billion by selling Islamic bonds early next year, according to people familiar with the matter.The company, one of the largest developers of power plants in the Middle East, has appointed the Saudi unit of HSBC Holdings Plc and Samba Capital to advise on the issuance, the people said, asking not to be...
Tags: Travel, Saudi Arabia, Bloomberg, Middle East, Samba, Riyadh, Jazan, HSBC Holdings Plc, Rupert Neil Bumfrey, Acwa Power International, ACWA, Samba Capital, Acwa Power Set, Sukuk Sale Bloomberg Saudi Arabia, Acwa HSBC


#Qatar leads most Gulf markets higher; Egypt falls | Reuters

Most stock markets in the Middle East ended higher on Sunday, with Qatar’s index leading the gains on a rise in financial shares, while Egypt closed lower.Financial markets globally have been buoyed over the past two weeks by U.S. drugmakers Pfizer and Moderna Inc releasing encouraging news on the effectiveness of their vaccine candidates against the coronavirus.Saudi Arabia’s benchmark index added 0.1%, with Dr Sulaiman Al-Habib Medical Services leaping 5.1% and real estate firm Jabal Omar Deve...
Tags: Travel, Saudi Arabia, Qatar, Egypt, Middle East, United Arab Emirates, Dubai, Pfizer, Gulf, Reuters, Qatar National Bank, Rupert Neil Bumfrey, Industries Qatar, Dubai Islamic Bank, Commercial International Bank, Jabal Omar Development


#‏AbuDhabi's ADGM, Israeli Bank Hapoalim collaborate on FinTech development and innovation | ZAWYA MENA Edition

‏ Abu Dhabi's ADGM, Israeli Bank Hapoalim collaborate on FinTech development and innovation | ZAWYA MENA Edition Abu Dhabi Global Market, ADGM, and Bank Hapoalim have signed a Memorandum of Understanding, MoU, to jointly promote and develop financial technology (FinTech) innovation, ecosystems, and market opportunities that will support the digital transformation of the financial services landscape and connect the economies in the UAE and Israel.Founded almost 100 years ago, Bank Hapoalim is Isr...
Tags: Travel, Israel, Middle East, Abu Dhabi, Fintech, Uae, Rupert Neil Bumfrey, Bank Hapoalim, ADGM Israeli Bank Hapoalim, ADGM Registration Authority, ADGM Abu Dhabi


PM Modi launches Rupay card Phase-2 in Bhutan

Prime Minister Narendra Modi on Friday launched the second phase of domestic card network RuPay’s expansion in Bhutan during a virtual conference held with Bhutanese Prime Minister Lotay Tshering. In August 2019, during his state-visit to Bhutan, PM Modi announced that visitors from India could access ATMs and Point of Sale (PoS) terminals across Bhutan through RuPay cards. Under the Phase-2 roll-out, Bhutanese card holders can access the RuPay network in India, a government press release says. ...
Tags: Travel, South Korea, News, Australia, India, Narendra Modi, Middle East, United Arab Emirates, Myanmar, Bahrain, ISRO, Mastercard, Bhutan, Modi, Punjab, BSNL


Middle East, #SaudiArabia News: Minimum Wage Raised for Citizens by 33% - Bloomberg

Middle East, Saudi Arabia News: Minimum Wage Raised for Citizens by 33% - Bloomberg Saudi Arabia will raise its minimum wage for citizens by a third to 4,000 riyals ($1,066), according to a statement by the Ministry of Human Resources and Social Development.The ministry said the decision will be applied five months from Wednesday, without giving an exact date.The higher minimum wage must be paid for a worker to be counted as part of a company’s quota of citizen employees, the ministry said. Work...
Tags: Travel, Workers, Bloomberg, Middle East, Middle East Saudi Arabia, Ministry of Human Resources, Rupert Neil Bumfrey, Bloomberg Saudi Arabia


Exclusive: Instamojo is looking at international expansion in SE Asia, Middle East

Instamojo plans to take its payments and commerce solutions products to international markets in the coming months, in particular to emerging markets neighbouring India including Southeast Asia and the Middle-East, the company’s CEO and co-founder Akash Gehani told MediaNama. Recently, Instamojo raised an undisclosed amount through a pre-series-C round from a clutch of Japanese investors, which Gehani says will help the company focus on building its product stack, increasing its user base, growi...
Tags: Travel, News, California, Southeast Asia, India, E-commerce, Middle East, SaaS, UPI, Software As A Service, Asia Middle East, Digital Payments, Instamojo, Sachet, Akash Gehani, Coronavirus


Oil Prices for Nov. 17, 2020: Oil Near $41 With OPEC+ Set to Meet on Output Hike Delay - Bloomberg

Oil Prices for Nov. 17, 2020: Oil Near $41 With OPEC+ Set to Meet on Output Hike Delay - Bloomberg Oil fluctuated near $41 a barrel as the dollar fell and traders weighed the potential for OPEC+ to delay a planned easing of output cuts.While headline prices have gained on the growing prospect of an effective Covid-19 vaccine in recent days, an OPEC+ panel said the group, which meets again on Tuesday, should consider holding off on easing bumper production curbs by three to six months.The p...
Tags: Travel, Asia, Europe, Russia, Opec, Bloomberg, Middle East, Oman, Rupert Neil Bumfrey, Dubai Mercantile Exchange, Bloomberg Oil


#Saudi wealth fund cut U.S. stocks by $3 billion last quarter, reduced ETFs | Reuters

Saudi wealth fund cut U.S. stocks by $3 billion last quarter, reduced ETFs | Reuters Saudi Arabia's sovereign wealth fund cut its exposure to North American equities by $3 billion in the third quarter, offloading some exchange traded funds (ETF) and stocks including Berkshire Hathaway BRKa.N, a regulatory filing showed.The Public Investment Fund (PIF) was holding $7.05 billion worth of U.S. equities as of Sept. 30, compared with nearly $10.12 billion in the second quarter, the filing showed late...
Tags: Travel, Saudi Arabia, Qatar, Middle East, Abu Dhabi, Kuwait, Reuters, Rupert Neil Bumfrey, Berkshire Hathaway BRKa N, Rachna Uppal, Azure Strategy


Coronavirus News: Morgan Stanley Turns Bullish on #UAE Stocks Citing Vaccine Hope - Bloomberg

Coronavirus News: Morgan Stanley Turns Bullish on UAE Stocks Citing Vaccine Hope - Bloomberg Stocks in the United Arab Emirates are highly exposed to a broad recovery, with positive virus vaccine news “far from priced,” according to Morgan Stanley.Dubai and Abu Dhabi-listed shares, which are lagging emerging-market peers this year, got a double-upgrade to tactical overweight as their exposure to cyclical sectors including tourism, leisure and financials -- a burden during the pandemic so far --...
Tags: Travel, Europe, Bloomberg, Middle East, United Arab Emirates, Abu Dhabi, Morgan Stanley, Uae, Rupert Neil Bumfrey, Bloomberg Stocks, Morgan Stanley Dubai, Marina Zavolock, Regiane Yamanari, Zavolock, Yamanari, Africa EEMEA


Gulf social changes are in the global spotlight | Financial Times #UAE

Gulf social changes are in the global spotlight | Financial Times In the UAE the brash commercialism of Dubai has sometimes obscured Abu Dhabi’s harsh  response to  political Islam at home and abroad © Christopher Pike/Reuters Overshadowed by world events such as the US presidential election or the first breakthrough in developing a Covid-19 vaccine, the United Arab Emirates last week announced radical changes in its legal system. These are designed primarily to enhance t...
Tags: Travel, Saudi Arabia, US, Qatar, Turkey, Iran, Egypt, Pope Francis, Middle East, Islam, United Arab Emirates, Dubai, Muslim, Abu Dhabi, Muslim Brotherhood, Uae


#UAE national carrier to start flying to Tel Aviv next spring

UAE national carrier to start flying to Tel Aviv next spring Etihad Airways, the national airline of the United Arab Emirates, announced Monday it would start operating daily nonstop flights to Tel Aviv next spring, a move that deepens ties between the UAE and Israel after the two countries agreed to normalize relations.Direct flights on Etihad between the emirates’ capital of Abu Dhabi and Tel Aviv will begin March 28, giving “Emiratis and UAE residents the opportunity to discover Israel’s hist...
Tags: Travel, White House, Israel, Tel Aviv, Iran, Middle East, United Arab Emirates, Dubai, Sudan, Abu Dhabi, Donald Trump, Etihad, Uae, Etihad Airways, Rupert Neil Bumfrey, UAE Bahrain


Mideast Stocks- Most major stocks rise in Mideast | ZAWYA MENA Edition

Mideast Stocks- Most major stocks rise in Mideast | ZAWYA MENA Edition Most major stock markets in the Middle East ended higher on Sunday, with Saudi leading gains on a rise in financial shares, while Egypt bucked the trend to close lower.By Thursday major Gulf markets had logged weekly gains following positive developments in a COVID-19 vaccine, which boosted hopes of a faster-than-expected global economic recovery.Saudi Arabia's benchmark index increased 0.8% on Sunday, with Al Rajhi Bank1120....
Tags: Travel, Saudi Arabia, Wam, Qatar, Egypt, Middle East, United Arab Emirates, Uae, Gulf, Reuters, Mideast, Dana Gas, Qatar National Bank, Rupert Neil Bumfrey, Al Rajhi, Saudi Electricity


Middle East Stocks News: #Saudi Banks Boost Main Stock Index Amid Recovery Bets: Inside EM - Bloomberg

Middle East Stocks News: #Saudi Banks Boost Main Stock Index Amid Recovery Bets: Inside EM - Bloomberg Saudi lenders boosted the main index in Riyadh to the biggest gain in the Middle East amid bets that a recovery in the kingdom’s economy will help earnings next year.The Tadawul Banks Index, composed of 12 banking shares, advanced 0.7% on Sunday to end at the highest level since Feb. 23. Al Rajhi Bank, Bank AlBilad, Samba Financial Group and Saudi British Bank climbed between 0.7% and 2.1...
Tags: Travel, Saudi Arabia, Bloomberg, Middle East, Riyadh, Mohammed bin Salman, Bloomberg Intelligence, Rupert Neil Bumfrey, Saudi British Bank, Edmond Christou, Al Rajhi Bank Bank AlBilad Samba Financial Group


#Dubai Aerospace Plans to Expand Portfolio to 450 Jets in 2021 - Bloomberg

Dubai Aerospace Plans to Expand Portfolio to 450 Jets in 2021 - Bloomberg Dubai Aerospace Enterprise, the Middle East’s biggest plane-leasing firm, plans to expand its portfolio to 450 planes next year even after the coronavirus pandemic weighed down on the company’s profit.“If we do our job correctly in 2021,” 450 is the minimum fleet size that DAE is targeting, Chief Executive Officer Firoz Tarapore said in an interview with Bloomberg TV. The state-owned company currently has 381 planes, and i...
Tags: Travel, Bloomberg, Middle East, Bloomberg TV, Rupert Neil Bumfrey, Tarapore, Firoz Tarapore, Dubai Aerospace Plans, Bloomberg Dubai Aerospace Enterprise



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