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MIDEAST STOCKS-Weak oil, fears of prolonged lockdowns weigh on Mideast | Nasdaq

MIDEAST STOCKS-Weak oil, fears of prolonged lockdowns weigh on Mideast | Nasdaq:Most bourses in the Middle East fell on Monday, weakened by a combination of lower oil prices and intensified fears that the global coronavirus shutdown could last for months.Brent crude LCOc1, the international benchmark for oil prices, was down $1.92, or 7.7%, at $23.01 by 1027 GMT, after earlier dropping to $22.58, the lowest since November 2002.In Abu Dhabi, the index .ADI sank 3.5%, with its top lender First Abu...
Tags: Travel, Qatar, Middle East, United Arab Emirates, Dubai, Abu Dhabi, Mideast, Qatar National Bank, Emaar, Rupert Neil Bumfrey, First Abu Dhabi Bank, Dubai Islamic Bank DISB DU, Etisalat ETISALAT, Qatar Islamic Bank QISB


#Kuwait Leads Drop in Mideast Stocks After Downgrade: Inside EM: Sunday March 29, 2020 - Bloomberg

Middle East Stock News: Sunday March 29, 2020 - Bloomberg:Most Middle Eastern stock markets fell on Sunday, with Kuwait’s main index leading losses after S&P Global Ratings cut the government’s credit rating last week.The Boursa Kuwait Premier Market Price index lost as much as 4.7% before finishing 3.4% lower, with Kuwait Finance House, National Bank of Kuwait and Ahli United Bank dropping more than 4%. Kuwait was downgraded one level to AA-, with S&P maintaining a stable outlook. Lower oil pr...
Tags: Travel, Bloomberg, Dubai, Kuwait, Mideast, Rupert Neil Bumfrey, MSCI Inc, Ahli United Bank, Boursa Kuwait Premier Market Price, Kuwait Finance House National Bank of Kuwait


#Dubai firm tied to Trump posts loss as virus downturn looms

Dubai firm tied to Trump posts loss as virus downturn looms:Dubai’s largest, fully private real estate developer posted on Sunday its first yearly loss since becoming a publicly traded company, a worrying sign for the sheikhdom’s already-reeling vital property market that’s been hit with the fallout from the coronavirus pandemic.DAMAC Properties, which has business ties to U.S. President Donald Trump and hosts the Mideast’s only Trump-branded golf course, reported a loss of 36.8 million dirhams ...
Tags: Travel, Dubai, Donald Trump, Trump, Mideast, Emirati, Dubai Financial Market, Rupert Neil Bumfrey, Damac, Hussain Sajwani


Survival of the Fittest: Mideast airlines brace for Covid-19 impact - Arabianbusiness

Survival of the Fittest: Mideast airlines brace for Covid-19 impact - Arabianbusiness:As coronavirus grounds airlines, plunging the industry into unprecedented crisis, Middle East carriers that have been in the red for years must urgently tap assistance from governments facing their own revenue slump. Authorities across the region have taken draconian measures to curb the disease, closing airports and halting passenger flights, and bringing major hubs like Dubai and Abu Dhabi to a standstill.The...
Tags: Travel, Middle East, Dubai, Abu Dhabi, Mideast, IATA, International Air Transport Association IATA, Rupert Neil Bumfrey, Alexandre de Juniac, Arab Air Carriers ' Organization AACO


Mideast Stocks: Most major Gulf stocks decline, but banks boost #Saudi | ZAWYA MENA Edition

Mideast Stocks: Most major Gulf stocks decline, but banks boost Saudi | ZAWYA MENA Edition:Most major Gulf shares lost steam on Thursday, ending a two-day rally triggered by the giant $2 trillion stimulus package in the United States to mitigate the economic blow from the fast-spreading coronavirus pandemic.In Abu Dhabi, the index sank 3.8%, with the country's largest lender First Abu Dhabi Bank (FAB) and telecoms firm Etisalat dropping 5% and 4.9%, respectively.Dubai's main share index slipped ...
Tags: Travel, United States, Dubai, Abu Dhabi, Uae, Gulf, Mideast, United Arab Emirates UAE, Etisalat, Qatar National Bank, Qatar Islamic Bank, Rupert Neil Bumfrey, Dubai Islamic Bank, Emaar Malls, First Abu Dhabi Bank FAB


Coronavirus: #Qatar Airways Still Operating a Third of Flights - Bloomberg

Coronavirus: Qatar Airways Still Operating a Third of Flights - Bloomberg:Qatar Airways said it’s continuing to operate a third of its normal schedule while bulking up on cargo flights as the Mideast carrier seeks to ride out the coronavirus outbreak.The second-biggest Gulf airline is still operating about 150 flights a day, serving European cities such as Frankfurt and Munich and more far-flung destinations in the U.S., Australia and parts of Asia, Thierry Antinori, its head of strategy, said W...
Tags: Travel, Asia, Europe, Australia, Qatar, Bloomberg, Frankfurt, Munich, Middle East, Emirates, Airbus, Gulf, Qatar Airways, Mideast, Boeing Co, Doha Qatar


Mideast Stocks: Middle East stocks advance on giant U.S. stimulus package | ZAWYA MENA Edition

Mideast Stocks: Middle East stocks advance on giant U.S. stimulus package | ZAWYA MENA Edition:Stock markets in the Middle East closed higher on Wednesday, as a mammoth stimulus in the United States to mitigate the economic blow from the fast-spreading coronavirus pandemic lifted investor sentiment across the globe.U.S. senators and Trump administration officials have reached agreement on a massive economic stimulus bill to alleviate the impact of the coronavirus outbreak, the negotiators said o...
Tags: Travel, Senate, United States, House Of Representatives, Middle East, Dubai, Abu Dhabi, Mideast, Emaar Properties, Rupert Neil Bumfrey, Trump Administration, Emirates NBD Bank, First Abu Dhabi BankFAB


Mideast Stocks: Most major Gulf indexes rebound in line with oil, global stocks | ZAWYA MENA Edition

Mideast Stocks: Most major Gulf indexes rebound in line with oil, global stocks | ZAWYA MENA Edition:Most major bourses in the Gulf rebounded on Tuesday, mirroring gains in oil and global equities, as investors pinned hopes on unprecedented stimulus steps by the U.S Federal Reserve to ease strains in financial markets amid the coronavirus pandemic.In its latest mould-breaking step, the Fed offered to buy unlimited amounts of assets to steady markets and expanded its mandate to corporate and muni...
Tags: Travel, United Arab Emirates, Abu Dhabi, Uae, Gulf, Fed, Mideast, U S Federal Reserve, Rupert Neil Bumfrey, First Abu Dhabi Bank


Mideast airlines lose $7B as airports shut to combat virus

Mideast airlines lose $7B as airports shut to combat virus:Seven Middle Eastern countries have suspended all commercial flights due to the fast-spreading new coronavirus, as the aviation industry’s largest trade association announced Thursday that airlines in the region have already lost more than $7 billion in revenue.Those losses translate into potentially hundreds of thousands of people losing their jobs in the airline industry in the Middle East alone, the International Air Transport Associa...
Tags: Travel, Iran, Middle East, Mideast, IATA, International Air Transport Association, Rupert Neil Bumfrey


Mideast Stocks: Most major Gulf markets slip in early trade as #Saudi raises oil production | ZAWYA UAE Edition

Mideast Stocks: Most major Gulf markets slip in early trade as Saudi raises oil production | ZAWYA UAE Edition:Most major Gulf markets slipped in early trade on Wednesday as Saudi Arabia appeared to follow through with its promise to boost crude oil output amid a price war with Russia.Saudi Arabia on Wednesday directed the oil giant Saudi Aramco to raise its oil production capacity to 13 million barrels per day (bpd) from 12 million bpd.On Monday, Saudi Arabia's slashed crude price for April and...
Tags: Travel, Saudi Arabia, Russia, Gulf, Saudi Aramco, Mideast, Russia Saudi Arabia, Rupert Neil Bumfrey, Jabal Omar Development, Al Rajhi Bank


Middle East Stock News: Mideast Stocks Plunge as Producers Head Toward Oil-Price War - Bloomberg

Middle East Stock News: Latest for Sunday March 8, 2020 - Bloomberg:Stocks in the Middle East nosedived as the world’s biggest crude producers failed to agree on production cuts, kicking off a price war and sending oil into freefall.Kuwait led the selloff, tumbling 10%, as every gauge in the region retreated. Oil giant Saudi Aramco fell below its IPO price for the first time. Oil prices plunged the most since 2008 on Friday on signs of a breakdown in the global OPEC+ alliance that helped underp...
Tags: Travel, Opec, Bloomberg, Vienna, Middle East, Federal Reserve, Abu Dhabi, Kuwait, Saudi Aramco, Mideast, Rupert Neil Bumfrey, Mohammed Ali Yasin, Al Dhabi Capital Ltd


Mideast Stocks: #Saudi stocks gain ahead of OPEC meet, other major Gulf markets mixed | ZAWYA MENA Edition

Mideast Stocks: Saudi stocks gain ahead of OPEC meet, other major Gulf markets mixed | ZAWYA MENA Edition:The Saudi Arabian stock market gained in early trade on Thursday as oil prices strengthened ahead of an OPEC meeting to discuss supply cuts, while other major Gulf markets were mixed.Oil prices rose more than 1% ahead of the meeting in which Saudi Arabia is expected to push OPEC and its allies including Russia to agree to further output cuts to support the market.Prices of brent crude have t...
Tags: Travel, Saudi Arabia, Russia, Opec, Gulf, Saudi Aramco, State, Mideast, Rupert Neil Bumfrey, Saudi Telecom, Al Rajhi Bank


Mideast Stocks: Middle East shares decline as coronavirus fears overshadow stimulus | ZAWYA MENA Edition

:Stock markets in the Middle East retreated on Wednesday, as an emergency rate cut from the U.S. Federal Reserve failed to quell investor nerves over the coronavirus's widening global economic fallout.The World Health Organization warned on Tuesday of a global shortage and price gouging for protective equipment to fight the fast-spreading virus. It asked companies and governments to increase production by 40% as the death toll from the respiratory illness mounted. Saudi Arabia and the United Ara...
Tags: Travel, Saudi Arabia, Middle East, Dubai, World Health Organization, Uae, Mideast, U S Federal Reserve, United Arab Emirates UAE, Emaar Properties, Rupert Neil Bumfrey, First Abu Dhabi Bank, Emirates NBD Bank The Abu Dhabi


#UAE and Mideast News: Gulf Economies to Suffer From Coronavirus - Bloomberg

UAE and Mideast News: Gulf Economies to Suffer From Coronavirus - Bloomberg:Gulf economies will grow at a slower pace than estimated this year as the coronavirus hurts oil demand, trade and tourism, Standard Chartered PLC said.“The Gulf Cooperation Council is exposed to the slowdown in global growth – and China growth in particular – via two main channels: softer oil demand growth (with lower prices underpinning the need for ongoing production cuts by OPEC producers) and weaker trade and tourism...
Tags: Travel, China, Opec, Middle East, Khan, Uae, Mideast, Gulf Cooperation Council, Standard Chartered Plc, Rupert Neil Bumfrey, Bilal Khan, Carla Slim


Trump’s Mideast Envoy Joins Israeli Fund to Build Regional Ties - Bloomberg

Trump’s Mideast Envoy Joins Israeli Fund to Build Regional Ties - Bloomberg:Former U.S. Middle East peace envoy Jason Greenblatt is joining OurCrowd, an Israeli crowdfunding and venture investment company, to build business ties with Arab countries -- including ones that don’t have official relations with Israel.After spending nearly three years helping to develop President Donald Trump’s Israeli-Palestinian peace plan, Greenblatt stepped down from his White House position three months before it...
Tags: Travel, White House, Israel, Iran, Middle East, United Arab Emirates, Donald Trump, Arab, Trump, Mideast, Greenblatt, Saudi Arabia Israel, Rupert Neil Bumfrey, Jason Greenblatt, Gulf Arab states


MIDEAST STOCKS-Most Mideast stocks slip as virus fears continue - Agricultural Commodities - Reuters

MIDEAST STOCKS-Most Mideast stocks slip as virus fears continue - Agricultural Commodities - Reuters:Most Middle Eastern stocks fell onTuesday, extending the previous session's sharp sellofftriggered by a spike in the number of coronavirus cases outsideChina.The death toll from the virus in Iran rose to 16, thehighest outside China, while other hard-hit nations includingSouth Korea and Italy accelerated emergency measures to curb thespread of the epidemic.Dubai's share index closed down 0.9% wit...
Tags: Travel, China, Qatar, Iran, Italy, Korea, United Arab Emirates, Dubai, Uae, Mideast, Qatar Islamic Bank, Air Arabia, Rupert Neil Bumfrey, Agricultural Commodities Reuters, Air Arabiafalling


#Qatar Airways Lifts Stake in British Airways Owner IAG to 25% - Bloomberg

Qatar Airways Lifts Stake in British Airways Owner IAG to 25% - Bloomberg:Qatar Airways lifted its stake in British Airways parent IAG SA, tightening its grip on the European carrier after expansion in the Gulf was thwarted by a Saudi-led embargo.The increase to 25.1%, from 21.4%, comes less than a month after IAG removed a cap on non-European Union investment.The move gives Qatar greater leverage as IAG Chief Executive Officer Willie Walsh prepares to exit the post next month, and BA grapples w...
Tags: Travel, Qatar, Bloomberg, Iag, British Airways, Willie Walsh, Gulf, Qatar Airways, Mideast, Akbar Al Baker, Rupert Neil Bumfrey, al Baker, IAG SA, Qatar Airways Lifts Stake in British Airways, EU Walsh


Mideast Stocks: Most major Gulf bourses ease on lacklustre results | ZAWYA MENA Edition

Mideast Stocks: Most major Gulf bourses ease on lacklustre results | ZAWYA MENA Edition:Most major Gulf stock markets retreated on Thursday, as weak corporate earnings continue to weigh on investor sentiment, while Dubai bucked the trend supported by Dubai Islamic Bank.Saudi Arabia's benchmark index was down 0.5%, led by a 2% fall in Saudi Basic Industries 2010.SE and a 0.5% dip in Al Rajhi Bank 1120.SE .Rabigh Refining and Petrochemical Company (PetroRabigh) 2380.SE plunged 10%, its biggest int...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Gulf, Mideast, Qatar Islamic Bank, Rupert Neil Bumfrey, Industries Qatar, Dubai Islamic Bank


Mideast Stocks: Most major Gulf markets decline; #Qatar falls to over 2-month low | ZAWYA MENA Edition

Mideast Stocks: Most major Gulf markets decline; Qatar falls to over 2-month low | ZAWYA MENA Edition:Most major gulf stock markets slipped in early trade on Thursday after a slew of poor corporate earnings, with Qatar's index falling the most among regional equities.The Qatari index dropped 0.7% to a more than two-month low. United Development slumped 10% after reporting a nearly 16% drop in its annual profit. The Gulf's largest lender Qatar National Bank lost 0.9%.Saudi Arabia's benchmark inde...
Tags: Travel, Saudi Arabia, Qatar, Gulf, Mideast, Qatar National Bank, Rupert Neil Bumfrey, United Development, Banque Saudi Fransi, IBES


Mideast Stocks: Gulf stocks gain as oil prices rebound | ZAWYA MENA Edition

Mideast Stocks: Gulf stocks gain as oil prices rebound | ZAWYA MENA Edition:Major Gulf stock markets rose in early trade on Tuesday on the back of a rebound in oil prices and a string of positive corporate earnings' announcements.Oil Prices were 1% higher after slumping the previous session, amid hopes for new production curbs by OPEC and its allies to offset any drop in future fuel demand that might be triggered by China's coronavirus outbreak. Sources told Reuters on Monday that the group, kno...
Tags: Travel, Saudi Arabia, China, Opec, Gulf, Reuters, Mideast, Rupert Neil Bumfrey, National Commercial Bank


Mideast’s Biggest Lender Focuses on Southeast Asia to Expand - Bloomberg

Mideast’s Biggest Lender Focuses on Southeast Asia to Expand - Bloomberg:Qatar National Bank is putting Southeast Asia as the focus of its expansion, the chief executive officer of the Middle East’s biggest lender said.“Our focus really was the Middle East and then we expanded to Southeast Asia where we’re now focusing,” Abdulla Al-Khalifa said in an interview with Bloomberg TV. “If we find the right opportunity for acquisition, we will consider it,” he said, adding there are no deals currently ...
Tags: Travel, Saudi Arabia, Southeast Asia, Qatar, Bloomberg, Egypt, Middle East, Gulf, Mideast, Bloomberg TV, Al Khalifa, United Arab Emirates Bahrain, Qatar National Bank, QNB, Societe Generale SA, Rupert Neil Bumfrey


EM Insight: Investors Turn Wary of Mideast Dollar Debt - Bloomberg | Video link

EM Insight: Investors Turn Wary of Mideast Dollar Debt - Bloomberg:Some of the most seasoned investors in the region have turned skittish as tensions between the U.S. and Iran simmer. Dollar-denominated debt sold by Lebanon, Iraq, Bahrain and Oman have been among the worst performers across emerging markets since the killing of top Iranian general Qassem Soleimani. Netty Ismail reports on "Bloomberg Daybreak: Middle East." (Source: Bloomberg) [Author: [email protected] (Rupert Neil Bumfrey...
Tags: Travel, Bloomberg, Iran, Oman, Mideast, Rupert Neil Bumfrey, Bloomberg Daybreak, Lebanon Iraq Bahrain, Qassem Soleimani Netty Ismail


Mideast Stocks: Most major Gulf markets slip but Oman bucks trend with sharp rise | ZAWYA MENA Edition

Mideast Stocks: Most major Gulf markets slip but Oman bucks trend with sharp rise | ZAWYA MENA Edition:Most major Gulf stock indexes fell at Wednesday's open, with Abu Dhabi dragged down by its top lender, but Oman bucked the trend as financial stocks led a sharp rise as the market reopened after a three-day break. Oman's blue-chip bourse, which had closed following the death of Sultan Qaboos bin Said, rose 1.5% for its biggest intraday gain this month. Bank Muscat rose 3.7%, while Raysut Cement...
Tags: Travel, Saudi Arabia, Jp Morgan, Oman, Goldman Sachs, Abu Dhabi, Morgan Stanley, Gulf, Aramco, Saudi Aramco, Mideast, Bank Muscat, Rupert Neil Bumfrey, Raysut Cement


Oil gains ahead of U.S.-China trade deal, snapping four-day decline - Reuters

Oil gains ahead of U.S.-China trade deal, snapping four-day decline - Reuters:Global oil benchmark Brent crude rose 1% to near $65 a barrel on Tuesday, snapping four straight days of declines on easing Mideast tensions as the United States and China, the world’s top energy consumers, prepared to sign a preliminary trade deal.Brent crude gained 65 cents to $64.85 per barrel by 1311 GMT. U.S. West Texas Intermediate crude futures rose 52 cents or 0.9% at $58.60 a barrel.The outlook for oil demand ...
Tags: Travel, White House, China, United States, Reuters, Mideast, U S China, Rupert Neil Bumfrey, U S West Texas Intermediate


BNP, Citigroup Among Most Exposed in Mideast’s Biggest Default - Bloomberg

BNP, Citigroup Among Most Exposed in Mideast’s Biggest Default - Bloomberg:BNP Paribas SA and Citigroup Inc. are among global banks with the most exposure to about $14 billion of accepted claims related to the collapse of two Saudi business empires more than a decade ago.The French bank is owed about $750 million by Maan al-Sanea’s Saad Group and Ahmad Hamad Algosaibi & Brothers Co. -- two family holding companies that defaulted on roughly $16 billion in 2009 -- after a Saudi court accepted its ...
Tags: Travel, London, Bloomberg, Middle East, Citigroup Inc, Mideast, BNP Paribas SA, Rupert Neil Bumfrey, Maan Al Sanea, Saad Group, Ahmad Hamad Algosaibi Brothers Co, Algosaibi, BNP Citigroup, Biggest Default Bloomberg, Cayman Islands Family


Oil steady as U.S.-Iran conflict eases, trade deal details elusive - Reuters

Oil steady as U.S.-Iran conflict eases, trade deal details elusive - Reuters:Oil prices dipped slightly on Monday as investors shift their focus away from easing Mideast tensions to this week’s scheduled signing of an initial U.S.-China trade deal whose details remain to be seen.Brent crude LCOc1 was down 15 cents at $64.83 per barrel at 1150 GMT, while West Texas Intermediate (WTI) crude CLc1 was down 8 cents at $58.96 a barrel from the previous session.Oil prices surged to their highest in alm...
Tags: Travel, Washington, China, Iraq, Iran, Tehran, Reuters, Mideast, Rupert Neil Bumfrey


MIDEAST STOCKS- #Saudi outshines as Gulf rebounds on receding Mideast tensions - Reuters

MIDEAST STOCKS-Saudi outshines as Gulf rebounds on receding Mideast tensions - Reuters:Middle Eastern stock markets rebounded onThursday, with Saudi outperforming the region, as investorsrepositioned themselves on signs of no further escalationbetween Tehran and Washington.U.S. President Donald Trump responded to an Iranian attackon U.S. forces with sanctions, not violence. On Wednesday, Iranfired missiles at military bases housing U.S. troops in Iraq inretaliation for a U.S. drone strike that k...
Tags: Travel, Washington, Iraq, Dubai, Tehran, Donald Trump, Gulf, Reuters, Saudi Aramco, Mideast, Rupert Neil Bumfrey, Emirates NBD Bank, Al Rajhi Bankleapt, DubaiIslamic Bank the United Arab Emirates


Tanker owners face insurance headache as Mideast war risk haunts shipping trade - Reuters

Tanker owners face insurance headache as Mideast war risk haunts shipping trade - Reuters:Even as the United States and Iran appear to signal a keenness to avoid further conflict, oil and gas shipowners are bracing to pay a price for the war of words that culminated in rocket strikes in Iraq over the last week - higher insurance bills.According to industry sources, payments known as war risk premiums for tankers shuttling through the Strait of Hormuz could rise significantly, adding hundreds of ...
Tags: Travel, Asia, Iraq, Qatar, Iran, United States, Gulf, Strait Of Hormuz, Reuters, Mideast, Rupert Neil Bumfrey, Indian Ocean Saudi Arabia, Svein A Ringbakken, Den Norske Krigsforsikring for Skib DNK


Oil slips as investors reassess Mideast risks - Reuters

Oil slips as investors reassess Mideast risks - Reuters:Oil prices on Tuesday surrendered some of the gains of recent days as investors reconsidered the likelihood of immediate supply disruptions in the Middle East after the United States killed a top Iranian military commander.Brent crude LCOc1 was down 63 cents, or 0.9%, at $68.28 a barrel by 1452 GMT. U.S. West Texas Intermediate (WTI) crude CLc1 was down 55 cents, or 0.9%, at $62.72.Prices surged during the previous two sessions, with Brent ...
Tags: Travel, Iran, United States, Middle East, Baghdad, Reuters, Mideast, Jan, U S West Texas Intermediate WTI, Qassem Soleimani, Rupert Neil Bumfrey, Quds Force Iran


Oil tumbles as investors rethink Mideast disruption risk - Reuters

Oil tumbles as investors rethink Mideast disruption risk - Reuters:Oil prices on Tuesday surrendered some gains made over the previous two days as investors reconsidered the likelihood of Middle East supply disruptions in the wake of the United States killing a top Iranian military commander.Brent crude LCOc1 fell as much as 1.5% to $67.86 a barrel and was at $68.39, down 52 cents, at 0737 GMT. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $62.85, down 42 cents, after earlier dro...
Tags: Travel, Iran, United States, Middle East, National Australia Bank, Baghdad, Reuters, Mideast, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, Lachlan Shaw



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