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Muscat Bourse Names Women to Board in Gender Diversity Push - Bloomberg

Muscat Bourse Names Women to Board in Gender Diversity Push - BloombergOman’s stock exchange appointed two women to its seven-member board amid a push to boost gender diversity within the Gulf’s business community.Samra Sulaiman Alharthy is the director of investment and economic research at the Oman Investment Authority and sits on the boards of Oman LNG, Qalhat LNG and Dubai Mercantile Exchange. She has worked for over a decade at the state-owned wealth fund. Previously, she was a U.K. and eur...
Tags: Travel, London, Standard Chartered, Oman, Rupert Neil Bumfrey, Dubai Mercantile Exchange, Oman Investment Authority, Muscat Securities Market, Muscat Bourse Names Women to Board, Samra Sulaiman Alharthy, Mathla Saleh Al Shaqsi, Oman Investment Authority Before


#Oman Is Said to Study Strategic Options for State Energy Firm OQ - Bloomberg

Oman Is Said to Study Strategic Options for State Energy Firm OQ - BloombergOman is studying options for state energy company OQ SAOC, including a potential initial public offering, as the Persian Gulf sultanate seeks to shore up its finances, people with knowledge of the matter said.The Omani government has been speaking with potential advisers as it considers alternatives for OQ, which could also include selling a stake in the business or one of its subsidiaries, according to the people. OQ co...
Tags: Travel, Opec, Middle East, Oman, Persian Gulf, JPMorgan Chase Co, Rupert Neil Bumfrey, Oman Oil Co, State Energy Firm OQ Bloomberg, state owned Oman Gas Co, Oxea Oman, Energy Development Oman Bloomberg News


IMF raises most Gulf countries' economic growth forecasts | Reuters

IMF raises most Gulf countries' economic growth forecasts | ReutersThe International Monetary Fund expects most Gulf economies to recover this year at a faster pace than previously estimated, as it raised its 2021 global growth forecast to 6% from 5.5% less than three months ago.Saudi Arabia’s economy, the region’s largest, is expected to grow 2.9% this year, up from the 2.6% forecast in January, the IMF said in its latest World Economic Outlook, released this week.The kingdom’s economy contract...
Tags: Travel, Saudi Arabia, Qatar, United States, United Arab Emirates, Oman, Bahrain, Kuwait, Imf, Gulf, Reuters, World Economic Outlook, Rupert Neil Bumfrey, ReutersThe International Monetary Fund


#Dubai Mercantile Exchange launches Mideast crude trading platform | Reuters

Dubai Mercantile Exchange launches Mideast crude trading platform | ReutersThe Dubai Mercantile Exchange launched a bilateral trading platform on Monday for companies to trade multiple Middle East crude grades priced against DME’s Oman crude futures.The seven grades are: Dubai, Upper Zakum and Murban from the United Arab Emirates, Basra Light and Basra Heavy from Iraq, Qatar’s al-Shaheen and Oman crude, it said in a statement.The platform, called the Alternative Crude Ecosystem (ACE), is aimed a...
Tags: Travel, Middle East, Dubai, Oman, Reuters, Basra, Mideast, Shaheen, Iraq Qatar, Rupert Neil Bumfrey, DME, Dubai Mercantile Exchange, ReutersThe Dubai Mercantile Exchange, Dubai Upper Zakum, United Arab Emirates Basra


Some Middle East economies start recovering; GDP forecasts revised | ZAWYA MENA Edition

Some Middle East economies start recovering; GDP forecasts revised | ZAWYA MENA EditionSome economies in the Middle East are already starting to recover after months of hardship caused by the coronavirus pandemic, according to a new analysis by PwC.Expectations for growth domestic product (GDP) have been scaled up for Gulf states like Bahrain and Oman, but trimmed for Saudi Arabia, as new official data have become available recently.Bahrain’s real GDP is likely to grow by 3.3 percent in 2020, up...
Tags: Travel, Saudi Arabia, Middle East, Oman, Bahrain, Uae, Gulf, Mena, Rupert Neil Bumfrey, Qatar Kuwait


#Oman borrowed 600 million rials from sovereign fund, 1.77 billion rials from other sources | Reuters

Oman borrowed 600 million rials from sovereign fund, 1.77 billion rials from other sources | ReutersOman has borrowed 600 million rials ($1.56 billion) from its sovereign fund, the Oman Investment Authority, and another 1.77 billion rials through external and internal borrowings to partly finance its 2021 budget, the finance ministry said.The total borrowing of 2.37 billion rials is 56% of the 4.2 billion rials worth of financing required this year, the ministry said in its March fiscal performa...
Tags: Travel, Oman, Reuters, Rupert Neil Bumfrey, Oman Investment Authority, ReutersOman


#Oman Is More Than Halfway Toward Meeting Financing Needs in 2021 - Bloomberg

Oman Is More Than Halfway Toward Meeting Financing Needs in 2021 - BloombergOman is more than halfway toward meeting its total financing needs of 4.2 billion riyals ($10.9 billion) for the year, according to the Finance Ministry.The government has 1.83 billion riyals left to raise after so far borrowing 1.77 billion riyals and withdrawing 600 million riyals from the Oman Investment Authority -- the country’s wealth fund -- as of end-March.“This shows that Oman has successfully covered most of it...
Tags: Travel, Bloomberg, Oman, Finance Ministry, Rupert Neil Bumfrey, Oman Investment Authority


#AbuDhabi stocks shine amid mixed GCC signals | Markets – Gulf News

Abu Dhabi stocks shine amid mixed GCC signals | Markets – Gulf NewsAbu Dhabi stocks traded higher on the first day of the week in what was the index's sixth straight advance on a day when GCC markets displayed a mixed performance as investors traded without big clues for guidance.Abu Dhabi Securities Exchange edged up 0.3 per cent at 5,962 points, advancing for a sixth session in a row. The index closed higher every day last week to accumulate 3.8 per cent weekly gains, in what was its best perf...
Tags: Travel, Qatar, GCC, Oman, Abu Dhabi, Bahrain, Kuwait, Etisalat, Abu Dhabi Securities Exchange, Air Arabia, Rupert Neil Bumfrey, Abu Dhabi Islamic Bank, Abudhabi, Gulf Bank, Qatar Navigation, Qatar Exchange


Middle East Stocks: Jordanian Shares Slip, Bucking Gains in Mideast Peers - Bloomberg

Stocks in Jordan snapped a three-day advance, bucking gains in most Middle East markets, after several arrests were made following what may have been an attempt to destabilize the current government.The Amman Stock Exchange General Index fell as much as 0.6% Sunday, reversing an increase of 0.5% last week. Jordan Petroleum Refinery Co. and Jordan Phosphate Mines fell more than 1%, dragging the index down the most.Over the weekend, Hasan Bin Zeid, a member of the Jordanian royal family, was held ...
Tags: Travel, Saudi Arabia, Opec, Morocco, Middle East, Oman, Jordan, Kuwait, Saudi Aramco, Bloomberg Television, Abdullah, SABIC, Bloomberg Intelligence, Rupert Neil Bumfrey, Saudi Telecom, Arqaam Capital


#AbuDhabi launches new oil futures as it targets Asian refiners | Financial Times

Abu Dhabi launches new oil futures as it targets Asian refiners | Financial Times Abu Dhabi began trading futures contracts for its most important oil grade Murban on Monday as the emirate seeks to create a rival regional benchmark as part of a big shake-up in the way its crude is traded.  The Abu Dhabi National Oil Company began trading Murban futures on a new local exchange, the ICE Futures Abu Dhabi. It will compete with Dubai, operated by S&P Global Platts, and the Oman crude fu...
Tags: Travel, London, Dubai, Oman, Abu Dhabi, Platts, Financial Times, ADNOC, Rupert Neil Bumfrey, Abu Dhabi National Oil Company, Dubai Mercantile Exchange


UPDATE 2-Murban crude futures start trading at new ICE, #AbuDhabi exchange | Reuters

UPDATE 2-Murban crude futures start trading at new ICE, Abu Dhabi exchange | ReutersAbu Dhabi started trading Murban crude futures contracts on Monday, offering a potential rival benchmark for trading Middle East crude.The key contract of the new ICE Futures Abu Dhabi (IFAD) oil exchange was priced at $63.18 per barrel as of 0900 GMT with 4,164 lots traded, ICE said on Twitter. Each lot is 1,000 barrels.Abu Dhabi-based IFAD is backed by the Intercontinental Exchange Inc, Abu Dhabi National Oil C...
Tags: Travel, New York, London, Singapore, United States, Middle East, United Arab Emirates, Dubai, Oman, Abu Dhabi, Platts, IFAD, Reuters, ADNOC, Jaber, Rupert Neil Bumfrey


RPT- #AbuDhabi's Mubadala interested in buying NMC hospital business - sources | Reuters

RPT-Abu Dhabi's Mubadala interested in buying NMC hospital business - sources | ReutersAbu Dhabi’s sovereign fund Mubadala is considering buying NMC Health’s core hospital business, three sources familiar with the matter told Reuters, emerging as another suitor of the troubled hospital group.NMC, the largest private healthcare provider in the United Arab Emirates, ran into trouble last year after the disclosure of more than $4 billion in hidden debt left a many UAE and overseas lenders with heav...
Tags: Travel, United Arab Emirates, Oman, Abu Dhabi, Uae, Reuters, NMC, Rupert Neil Bumfrey, NMC Health, Mubadala, ReutersAbu Dhabi


Bailout Gambit Is No Longer What Props Up #Oman Debt for JPMorgan - Bloomberg

Bailout Gambit Is No Longer What Props Up Oman Debt for JPMorgan - BloombergCash-strapped Oman is getting a shot at redemption with investors without recourse to a bailout from wealthier neighbors.A year after the sultanate’s bonds approached distressed territory and its government discussed the possibility of financial aid from other members of the Gulf Cooperation Council, it’s following through on a turnaround plan that enables it to go it alone, according to JPMorgan Chase & Co.“This time ar...
Tags: Travel, GCC, Middle East, Dubai, Oman, North Africa, Gulf Cooperation Council, JPMorgan Chase Co, Rupert Neil Bumfrey, Hani Deaibes, JPMorgan Bloomberg


Middle East Stocks: #Saudi Stocks Lead Gulf Gains on Surging Oil Bets - Bloomberg

Middle East Stocks: Saudi Stocks Lead Gulf Gains on Surging Oil Bets - Bloomberg Saudi stocks climb the most in the Gulf, tracking a surge in oil prices after OPEC+ shocked the markets with a decision to keep supply in check. Aramco advanced the most in five months.The Tadawul All Share Index rose as much as 1.4%, extending gains this year to 7.9%. Saudi Basic Industries, Saudi Aramco and Al Rajhi Bank contributed the most to the advance. Benchmarks in Abu Dhabi, Kuwait and Oman also rose, whil...
Tags: Travel, London, Saudi Arabia, Opec, Qatar, Bloomberg, United Arab Emirates, Dubai, Oman, Bahrain, Gulf, Riyadh, Aramco, Saudi Aramco, Goldman Sachs Group Inc, Bank of America Corp


#AbuDhabi fund, CVC, among suitors for $1 billion NMC hospital business | Reuters

Abu Dhabi fund, CVC, among suitors for $1 billion NMC hospital business | Reuters Abu Dhabi state-owned holding company ADQ and private equity firm CVC Capital Partners are among the suitors that have shown interest in NMC Health’s core hospital business, sources told Reuters.Hospital operators in the region have reported higher profits for last year as the COVID-19 pandemic led to higher in-patient occupancy.NMC has hired advisers for the sale of NMC’s healthcare business in the United Arab Emi...
Tags: Travel, Oman, Abu Dhabi, CVC, Reuters, United Arab Emirates UAE, NMC, CVC Capital Partners, Reuters Abu Dhabi, Rupert Neil Bumfrey, NMC Health, Reuters Hospital, Sulaiman Al Habib Medical Group HMG, ADQ, Abu Dhabi Health Services Co Seha


#Oman agrees $2.2 billion loan with large group of banks - sources | Reuters

Oman agrees $2.2 billion loan with large group of banks - sources | Reuters Oman has raised $2.2 billion with a loan in a deal which attracted interest from a large group of regional and international lenders, sources said.The Gulf state, rated sub-investment grade by all major credit rating agencies, had been working with a group of banks to raise a $1.1 billion loan, which could have gone up to $2 billion depending on market appetite, sources told Reuters in January.The deal was eventually com...
Tags: Travel, Oman, Gulf, Reuters, Reuters Oman, Rupert Neil Bumfrey


#Saudi and Qatari bonds fall as U.S. yields rise | ZAWYA MENA Edition

Saudi and Qatari bonds fall as U.S. yields rise | ZAWYA MENA Edition Longer-term dollar-denominated bonds issued by investment-grade Gulf countries fell by more than a cent on Monday, Refinitiv's Tradeweb pricing showed, tracking a rise in U.S. Treasury yields.Saudi government bonds due in 2060 shed 1.4 cents to trade at 118.25 cents on the dollar, while Qatari bonds due in 2050 fell 1.35 cents to 123.47 on the dollar.Abu Dhabi bonds due in 2050 were down 1.55 cents to 114.8 on the dollar.The Gu...
Tags: Travel, Eu, Oman, Abu Dhabi, Bahrain, Gulf, U S Treasury, GCC Gulf Cooperation Council, Rupert Neil Bumfrey, Tradeweb, Sergey Dergachev, MENA Edition Longer, Union Investment Oman


#UAE’s sovereign fund buffers can support fiscal deficits for decades | Business – Gulf News

UAE’s sovereign fund buffers can support fiscal deficits for decades | Business – Gulf News Lower oil prices triggered by the pandemic have seen significant drawdowns from the GCC sovereign wealth funds resulting in erosion in these buffers, according to rating agency Moody’s.The impact of the coronavirus pandemic on oil demand and prices has significantly increased gross funding requirements for sovereigns across the GCC, which is being partly funded by drawing down sovereign wealth fund (SWF) ...
Tags: Travel, Saudi Arabia, Qatar, GCC, Oman, Uae, Moody, Abu Dhabi UAE, SWF, Rupert Neil Bumfrey, UAE Qatar


#Oman Air Flights Expansion Plan Scrapped, to Focus on Code-Share - Bloomberg

Oman Air Flights Expansion Plan Scrapped, to Focus on Code-Share - Bloomberg Oman Air, the state-run carrier, has abandoned a planned expansion and now aims to reduce its fleet and focus more on code-sharing with other airlines as restrictions to curb the pandemic slash demand for flights.“Going to 70 aircraft, the risks would have been quite high for the country and the airline,” company chairman Mohammed Al-Barwani told local website WAF Oman. Instead the carrier will target a fleet of 36 plan...
Tags: Travel, Bloomberg, Oman, Rupert Neil Bumfrey, Oman Aviation Group, Bloomberg Oman Air, Mohammed Al Barwani


#SaudiArabia, #Oman most exposed to diminishing fiscal uplift from SWF buffers | ZAWYA MENA Edition

Saudi Arabia, Oman most exposed to diminishing fiscal uplift from SWF buffers | ZAWYA MENA Edition The impact of the coronavirus pandemic on oil demand and prices has increased gross funding requirements for sovereigns across the GCC, which will be partly funded by drawing down sovereign wealth fund (SWF) assets, Moody's Investors Service said in a new report.The stock of SWF assets in Qatar and Abu Dhabi remains more than ample to cover decades of fiscal deficits at current levels. However, for...
Tags: Travel, Saudi Arabia, Qatar, GCC, Oman, Abu Dhabi, Kuwait, Moody, Moody s Investors Service, Moody 's, SWF, Rupert Neil Bumfrey, Saudi Arabia Oman, General Reserve Fund


NMC says advisers appointed to explore sale of #UAE, #Oman business | Reuters

NMC says advisers appointed to explore sale of UAE, Oman business | Reuters NMC Group said on Wednesday it had hired Perella Weinberg Partners and Resonance Capital to advise on the potential sale of its healthcare business in the United Arab Emirates and Oman.The sale process will run in parallel with the ongoing restructuring discussions with NMC’s lenders, it said.NMC, founded in the 1970s, became the largest private healthcare provider in the UAE but ran into trouble after short-seller Muddy...
Tags: Travel, United Arab Emirates, Oman, Uae, Reuters, NMC, UAE Oman, Rupert Neil Bumfrey, Reuters NMC Group, Perella Weinberg Partners and Resonance Capital


Saudi Arabian Shares Lead Gulf Gains on Oil, Earnings: Inside EM - Bloomberg

Saudi Arabia’s main equities index led advances in the Gulf on Sunday, catching up with gains in oil and emerging-market stocks last week.The Tadawul gauge also got a boost by earnings from Bank AlBilad and United International Transport that were higher than estimates. Saudi Arabian Mining Co. extended gains after the company said it plans to focus on deleveraging this year.Abu Dhabi’s main index ended higher after the exchange said it’ll reduce trading fees on all transactions. Stock gauges in...
Tags: Travel, Saudi Arabia, Opec, Bloomberg, Joe Biden, United Arab Emirates, Dubai, Oman, Abu Dhabi, Bahrain, Gulf, Tadawul, Emirates NBD, Saudi Arabian Mining Co, Rupert Neil Bumfrey, Kuwait Qatar


#Oman Wealth Fund’s Latest Revamp Focuses on Tourism, Real Estate - Bloomberg

Oman Wealth Fund’s Latest Revamp Focuses on Tourism, Real Estate - Bloomberg Oman’s wealth fund plans to restructure its tourism and real estate investments in the latest shift by the $17 billion sovereign investor.The Oman Investment Authority will transfer a shareholding company, a tourism development project and resorts to the Omran Tourism Development Co., also known as Omran Group, the wealth fund said in a statement Sunday.This move aims to “drive growth for Omran Group and strengthen its ...
Tags: Travel, Oman, Gulf, Rupert Neil Bumfrey, Oman Investment Fund, State General Reserve Fund, Oman Investment Authority, Omran Group, Tourism Real Estate Bloomberg, Tourism Real Estate Bloomberg Oman, Omran Tourism Development Co


Mashreq Capital's Kettlewell on Turkish Sovereign Debt, #Dubai's Economy, and #Oman's Fiscal Reforms - Bloomberg

Mashreq Capital's Kettlewell on Turkish Sovereign Debt, Dubai's Economy, and Oman's Fiscal Reforms - Bloomberg Oliver Kettlewell, Head of Fixed Income & Global Portfolios at Mashreq Capital, discusses the purchase of Turkish sovereign debt, how Dubai travel and tourism-sensitive bonds will benefit from the economy's reopening, and how Oman's fiscal reforms are amongst the slowest-paced reforms in the GCC. He speaks with Manus Cranny and Yousef Gamal El-Din on "Bloomberg Daybreak: Middle East."...
Tags: Travel, Bloomberg, GCC, Dubai, Oman, Kettlewell, Rupert Neil Bumfrey, Bloomberg Daybreak, Yousef Gamal El Din, Mashreq Capital, Bloomberg Oliver Kettlewell


#SaudiArabia Returns to Dollar-Debt Market to Boost Finances - Bloomberg

Saudi Arabia Returns to Dollar-Debt Market to Boost Finances - Bloomberg Saudi Arabia launched the sale of a two-part dollar bond as countries in the Gulf Arab region raise cash buffers to weather low oil prices and the coronavirus pandemic.The world’s largest crude exporter plans to price $5 billion in bonds on Tuesday, according to a person familiar with the matter, who asked not to be named.The $2.75 billion 12-year notes launched at 130 basis points over 10-year U.S. Treasuries, compared wit...
Tags: Travel, Saudi Arabia, Bloomberg, Dubai, Oman, Bahrain, Emirates NBD Asset Management, Gulf Arab, U S Treasuries, Rupert Neil Bumfrey, Angad Rajpal, Boost Finances Bloomberg Saudi Arabia


POLL-Gulf's 2021 rebound likely to be slower than previously forecast | Reuters

POLL-Gulf's 2021 rebound likely to be slower than previously forecast | Reuters Forecasts for economic recoveries in the six-member Gulf Cooperation Council in 2021 have been trimmed while expectations for gross domestic product declines last year were mixed in a quarterly Reuters survey of analysts released on Tuesday.Economists in the Jan. 11-25 poll maintained their views that the hydrocarbon-dependent region’s economic fortunes would turn around this year after it was hammered by the pandemi...
Tags: Travel, Saudi Arabia, Qatar, GCC, Oman, Reuters, Gulf Cooperation Council, UAE Kuwait, Rupert Neil Bumfrey


#Oman Picks State Street Saudi Chairwoman to Head Oil Company - Bloomberg

Oman Picks State Street Saudi Chairwoman to Head Oil Company - Bloomberg Oman’s government named Haifa Al Khaifi as head of a new company that controls the country’s biggest oil block, a rare appointment for a woman in a male-dominated sector in the Middle East.Al Khaifi will be chief executive officer of Energy Development Oman, which ultimately owns the sultanate’s 60% stake in Block 6, a huge field capable of producing around 650,000 barrels of crude each day.She joins from Petroleum Developm...
Tags: Travel, Boston, Bloomberg, Oman, Persian Gulf, JPMorgan Chase Co, State Street Corp, Rupert Neil Bumfrey, Energy Development Oman, Petroleum Development Oman LLC, Head Oil Company Bloomberg, Head Oil Company Bloomberg Oman, Haifa Al Khaifi, Middle East Al Khaifi, Al Khaifi


#Oman's new parliament law shrouds budget talks in secrecy | Reuters

Oman's new parliament law shrouds budget talks in secrecy | Reuters Oman has introduced a new law for parliament stipulating that state budget talks and the questioning of ministers should be carried out in secret, reducing transparency as the indebted state tries to tackle its creaking finances and shore up the economy.Since assuming power a year ago, Sultan Haitham bin Tariq al-Said has overhauled government and state entities and begun pushing through sensitive fiscal reforms such as reductio...
Tags: Travel, Oman, Reuters, Reuters Oman, Rupert Neil Bumfrey, Haitham bin Tariq al Said, Council of Oman


Most Mideast Equity Gauges Fall as Earnings Roll In: Inside EM - Bloomberg

Most Mideast Equity Gauges Fall as Earnings Roll In: Inside EM - Bloomberg Qatar stocks led losses in the Middle East as companies started reporting results across the region.Profitability for lenders in the Gulf Arab region remains under pressure, with disruptions to trade and travel continuing to rattle the energy-rich region. Qatar National Bank QPSC, the Middle East’s biggest lender, reported last week a 16% drop in net income for 2020. Some banks in Oman also published results that showed a...
Tags: Travel, Bloomberg, Egypt, Middle East, United Arab Emirates, Dubai, Oman, Abu Dhabi, Kuwait, Doha, Riyadh, Bloomberg Intelligence, Gulf Arab, National Bank, Rupert Neil Bumfrey, Oza


#Dubai Stocks Fall Most in Mideast as Earnings Roll In: Inside EM - Bloomberg

Dubai Stocks Fall Most in Mideast as Earnings Roll In: Inside EM - Bloomberg Dubai stocks led losses in the Middle East as companies started reporting results across the region and the number of coronavirus cases surged.Profitability for lenders in the Gulf Arab region remains under pressure, with disruptions to trade and travel continuing to rattle the energy-rich region. Qatar National Bank QPSC, the Middle East’s biggest lender, reported last week a 16% drop in net income for 2020. Some banks...
Tags: Travel, Qatar, Bloomberg, Middle East, United Arab Emirates, Dubai, Oman, Abu Dhabi, Riyadh, Mideast, Gulf Arab, Rupert Neil Bumfrey, Oza, Aldar Properties PJSC, Emirates NBD PJSC, Qatar National Bank QPSC



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