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Middle East News: Doha Bank CEO Says Worst of Covid Slump Is Over - Bloomberg

Middle East News: Doha Bank CEO Says Worst of Covid Slump Is Over - Bloomberg:Doha Bank QPSC said the worst of the shock from the coronavirus pandemic and a slump in oil prices has already been reflected on the Qatar lender’s balance sheet.“We look forward to reset the button as and when the world reaches normalcy,” Chief Executive Officer Raghavan Seetharaman said in an interview on Bloomberg TV on Wednesday.The lender on Tuesday reported a 3.5% decline in its net income for the first half of t...
Tags: Travel, Qatar, Bloomberg, Bloomberg TV, Doha Bank, Rupert Neil Bumfrey, Raghavan Seetharaman, Doha Bank QPSC


MIDEAST STOCKS- #Kuwait leads most of Gulf higher; #Qatar retreats - Reuters

MIDEAST STOCKS-Kuwait leads most of Gulf higher; Qatar retreats - Reuters:Most Gulf stock markets ended higher onMonday with Kuwait leading the gains on the back of a broadincrease in shares in its index, while Qatar's was hit byfirst-half losses from Qatar Insurance Company.  Saudi Arabia's benchmark index added 0.3%, bolsteredby a 0.6% gain in Saudi Aramco and a 1% rise in SaudiBasic Industries.But Yamama Cement declined 1.8% as the companyreported a fall in second-quarter net profit.In Kuw...
Tags: Travel, Qatar, Kuwait, Gulf, Reuters, Saudi Aramco, Rupert Neil Bumfrey, Ghanim, Marzouq, Qatar Insurance Company Saudi Arabia, SaudiBasic Industries But Yamama Cement, National Bank of Kuwait News, theUnited States


Blackrock, #Qatar's QIA interested in Atlantia's tollroad unit: sources - Reuters

Blackrock, Qatar's QIA interested in Atlantia's tollroad unit: sources - Reuters:U.S. asset manager BlackRock (BLK.N) and Qatar’s sovereign fund QIA are interested in investing in Atlantia’s motorway unit (ATL.MI) along with Italian state lender Cassa Depositi e Prestiti (CDP), two sources with knowledge of the matter said.The two could be part of a consortium made of Italian and foreign funds that is expected to buy around 20% in Atlantia’s Autostrade per l’Italia once it is demerged from its p...
Tags: Travel, Qatar, Qatar Investment Authority, Blackrock, Reuters, Autostrade, Rupert Neil Bumfrey, Cassa Depositi, Atlantia, Blackrock Qatar


European, Middle Eastern & African Stocks - Bloomberg #UAE close #SaudiArabia #Qatar mid-session

European, Middle Eastern & African Stocks - Bloomberg:Updated stock indexes in Europe, Middle East & Africa. Get an overview of major indexes, current values and stock market data in Europe, UK, Germany, Russia & more. [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Qatar, Europe Middle East Africa, Rupert Neil Bumfrey, Europe UK Germany Russia, Bloomberg UAE


MIDEAST STOCKS-Most major Gulf stocks rise in early trade; #Qatar slips - Reuters

MIDEAST STOCKS-Most major Gulf stocks rise in early trade; Qatar slips - Reuters:Most major stocks markets in the Gulf rose in early trade on Monday, largely on the back of their financials, while Qatar’s index was hurt by first-half losses posted by Qatar Insurance Company.Saudi Arabia’s benchmark index edged up 0.1%, helped by a 0.7% rise in Dr Sulaiman Al-Habib Medical Services , while National Commercial Bank was up 0.4%, despite recording a lower second-quarter profit. But Banque Saudi Fran...
Tags: Travel, Qatar, Gulf, Reuters, Rupert Neil Bumfrey, National Commercial Bank, Banque Saudi Fransi, Sulaiman Al Habib Medical Services, Qatar Insurance Company Saudi Arabia


US envoy in #Qatar: Gulf dispute 'gone on too long' | News | Al Jazeera

US envoy in Qatar: Gulf dispute 'gone on too long' | News | Al Jazeera:The three-year blockade of Qatar by neighbouring Arab nations has gone on for too long and threatens regional security and prosperity, a US envoy has said.US Special Representative for Iran Brian Hook on Sunday acknowledged the challenge ahead of ending the crisis that has torn apart the Gulf Cooperation Council (GCC) - with the United Arab Emirates (UAE), Saudi Arabia, and Bahrain part of the siege.Egypt also joined the bloc...
Tags: Travel, US, Qatar, Egypt, GCC, Oman, Al Jazeera, Bahrain, Kuwait, Gulf Cooperation Council GCC, Rupert Neil Bumfrey, Emir Sheikh Sabah al Ahmad al Sabah, US Special Representative for Iran Brian Hook, United Arab Emirates UAE Saudi Arabia


#Qatar Commercial Bank to Continue to Build Buffers Against Risk - Bloomberg

Qatar Commercial Bank to Continue to Build Buffers Against Risk - Bloomberg:Commercial Bank of Qatar will continue to build buffers against risk for the rest of the year to protect itself from the fallout of the coronavirus pandemic, according to its group chief executive officer.Lenders in the gas-rich Gulf state are building up “significant risk buffers in anticipation of prudent provisioning for what may happen once the stimulus measures are taken off,” Joseph Abraham said in an interview wit...
Tags: Travel, Qatar, Gulf, Bloomberg TV, Rupert Neil Bumfrey, Commercial Bank of Qatar, Joseph Abraham


#Qatar Airways seeks $5 billion compensation from Arab bloc over airspace ban - Reuters

Qatar Airways seeks $5 billion compensation from Arab bloc over airspace ban - Reuters:Qatar Airways is seeking at least $5 billion in compensation from Saudi Arabia, the United Arab Emirates, Egypt and Bahrain for blocking it from their airspace, the state-owned carrier said on Wednesday.The airline has been banned from the airspace of the four countries since June 2017 when they cut ties with Qatar over accusations it supports terrorism. Doha denies the charges and says the bloc aims to infrin...
Tags: Travel, Saudi Arabia, Qatar, Bahrain, Doha, Reuters, Qatar Airways, Rupert Neil Bumfrey, United Arab Emirates Egypt


#Qatar allows citizens and permanent residents to travel and return anytime - Reuters

Qatar allows citizens and permanent residents to travel and return anytime - Reuters:Qatar on Wednesday relaxed restrictions aimed at controlling the novel coronavirus, allowing citizens and permanent residency holders to travel outside the country and return at any time, and residents outside the country to return starting Aug. 1.The government communications office (GCO) said arrivals from low-risk countries are required to take a coronavirus test at the airport and sign a formal pledge to adh...
Tags: Travel, Qatar, Reuters, Ministry of Public Health, Rupert Neil Bumfrey, GCO, QNA, GCO GCO


#UAE Asset Manager to Start ETF Trading in #Dubai and #AbuDhabi - Bloomberg

UAE Asset Manager to Start ETF Trading in Dubai and Abu Dhabi - Bloomberg:The first exchange-traded fund in the United Arab Emirates accessible to investors both in Dubai and Abu Dhabi is expected to list next month.The Chimera Umbrella Fund -- Chimera S&P UAE Shariah ETF will have two different share classes that will track a Shariah-compliant index compiled from stocks listed on the main exchanges in both emirates. It will be managed by Abu Dhabi-based Chimera Capital LLC.While Gulf investors ...
Tags: Travel, Saudi Arabia, Qatar, United Arab Emirates, Dubai, Abu Dhabi, Uae, Rupert Neil Bumfrey, AbuDhabi Bloomberg, Abu Dhabi Bloomberg, Chimera Capital LLC, Seif Fikry, Chimera Capital It


#Dubai’s Biggest Bank Profit Slumps After $1.1 Billion Provisions - Bloomberg

Dubai’s Biggest Bank Profit Slumps After $1.1 Billion Provisions - Bloomberg:Emirates NBD PJSC first-half profit slumped 45% after it set aside $1.1 billion in provisions to cover an expected spike in bad loans brought on by the coronavirus pandemic.Dubai’s biggest bank increased impairments allowances more than three times to 4.2 billion dirhams, according to a statement. Profit dropped to 4.1 billion dirhams due to the higher impairment charges and a gain on the sale of a stake in Network Inte...
Tags: Travel, Saudi Arabia, Qatar, Bloomberg, Middle East, Dubai, International Monetary Fund, Emirates NBD, Bank Muscat, Qatar National Bank, Rupert Neil Bumfrey, Emirates NBD PJSC, Biggest Bank, Network International Holdings Plc


MIDEAST STOCKS-Gulf stocks move sideways; #Saudi gains ahead of OPEC+ meet - Reuters

MIDEAST STOCKS-Gulf stocks move sideways; Saudi gains ahead of OPEC+ meet - Reuters:Major stock markets in the Gulf moved sideways on Wednesday, with the Saudi index edging up ahead of a meeting on the future level of oil output cuts by the Organization of the Petroleum Exporting Countries (OPEC) and its allies.Key members of OPEC and allies including Russia, collectively known as OPEC+, are set to decide whether to extend output cuts of 9.7 million barrels per day (bpd) that end in July or ease...
Tags: Travel, Saudi Arabia, Russia, Opec, Qatar, Gulf, Reuters, Qatar Islamic Bank, Rupert Neil Bumfrey, Industries Qatar, National Commercial Bank, Al Rajhi Bank


UN's top court backs #Qatar in air blockade row with neighbours | News | Al Jazeera

UN's top court backs Qatar in air blockade row with neighbours | News | Al Jazeera:The International Court of Justice, the UN's top court, has backed Qatar in a dispute with four neighbours that imposed an air blockade against Doha more than three years ago.The Hague-based ICJ on Tuesday rejected the appeal by Bahrain, Egypt, Saudi Arabia, and the United Arab Emirates (UAE) against a decision by the world civil aviation body in favour of Qatar over sovereign airspace, ICJ President Abdulqawi Ahm...
Tags: Travel, Qatar, Un, Al Jazeera, Doha, The Hague, United Arab Emirates UAE, ICAO, Yusuf, ICJ, Rupert Neil Bumfrey, International Civil Aviation Organisation ICAO, Bahrain Egypt Saudi Arabia, Abdulqawi Ahmed Yusuf


#SaudiArabia bans beIN Sport from broadcasting in country - BBC Sport

Saudi Arabia bans beIN Sport from broadcasting in country - BBC Sport:Saudi Arabia has barred beIN Sport - the Premier League's official Middle East broadcasters - from operating in the country.It means there is now no legitimate way to watch English top-flight football in a nation whose public investment fund is trying to complete a takeover of Newcastle United.The proposed £300m buyout is awaiting Premier League approval."The decision is nonsensical on every single level," said Qatar-based beI...
Tags: Travel, Saudi Arabia, Qatar, Bbc, Premier League, Middle East, Newcastle United, BBC Sport, Rupert Neil Bumfrey


MIDEAST STOCKS-Most Gulf stocks slip on downbeat IMF forecast; #Qatar ticks higher - Reuters

MIDEAST STOCKS-Most Gulf stocks slip on downbeat IMF forecast; Qatar ticks higher - Reuters:Most of the major Middle East stock markets eased on Tuesday, after International Monetary Fund revised its growth projections downwards for the region due to the double blows of lower oil prices and the coronavirus crisis.The COVID-19 pandemic has hit sectors such as tourism and trade, while low oil prices and crude production cuts have strained the finances of regional oil exporters and impacted remitta...
Tags: Travel, Saudi Arabia, Qatar, Middle East, International Monetary Fund, Imf, Gulf, Reuters, Rupert Neil Bumfrey, Samba Financial Group


Teaching In Doha, Qatar – Expanding Our Horizons

“Actually, we won’t be around next year, we’re going to teach in Qatar.” “Where???!” “Doha, the capital city of Qatar.  Think Dubai, but slightly smaller, slightly slower-paced, and a few years behind – but quickly catching up – in terms of infrastructure and eye-catching skylines.  Oh – and they’re hosting the FIFA World Cup in… The post Teaching In Doha, Qatar – Expanding Our Horizons appeared first on Million Dollar Journey.
Tags: Travel, Marketing, Qatar, Dubai, FIFA World Cup, Doha, Doha Qatar


UPDATE 1-QNB's Q2 profit falls after sharp rise in loan provisions - Reuters

UPDATE 1-QNB's Q2 profit falls after sharp rise in loan provisions - Reuters:#Qatar National Bank’s second-quarter profit fell after it booked sharply higher loan loss provisions due to the global economic conditions, the Gulf’s biggest lender said on Sunday.Fitch Ratings said last month that it expects Qatar’s non-hydrocarbon sector to contract by 5% this year and gross domestic product to shrink 3.8%.QNB posted 2.84 billion riyals ($779.90 million) in net profit in the second quarter, down fro...
Tags: Travel, Qatar, Turkey, Egypt, Gulf, Reuters, Fitch Ratings, Qatar National Bank, QNB, EFG Hermes, Rupert Neil Bumfrey


MIDEAST STOCKS-Financials buoy #Qatar; blue-chip sell-off trips up Egypt - Reuters

MIDEAST STOCKS-Financials buoy Qatar; blue-chip sell-off trips up Egypt - Reuters:Broad-based gains pushed the Qataribourse higher on Thursday, with financial stocks leading thepack, whereas a wide sell-off pulled down Egypt's blue-chipshare index.In Qatar, the benchmark share index advanced 1%, asmost of its constituents ended higher. Qatar National Bank, the Gulf's biggest lender, gained 2.8%, whilepetrochemical firm Industries Qatar added 1.9%.Elsewhere, Commercial Bank was up 1.5%.On Wednesd...
Tags: Travel, Qatar, Egypt, Qatar National Bank, Egypt Reuters, Rupert Neil Bumfrey, Industries Qatar, QNA, Elsewhere Commercial Bank


#Qatar to raise proportion of Qatari staff in state affiliated companies to 60%: QNA - Reuters

Qatar to raise proportion of Qatari staff in state affiliated companies to 60%: QNA - Reuters:The Qatari cabinet approved on Wednesday a draft resolution that aims to raise the percentage of Qataris working at state-owned companies or where the state is an investor to 60%, state news agency (QNA) reported.“The decision also includes other authorities that are subject to the retirement and pensions law,” QNA added of the draft resolution. [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Qatar, Rupert Neil Bumfrey, QNA, QNA Reuters


European, Middle Eastern & African Stocks - Bloomberg #UAE close #SaudiArabia #Qatar mid-session

European, Middle Eastern & African Stocks - Bloomberg:Updated stock indexes in Europe, Middle East & Africa. Get an overview of major indexes, current values and stock market data in Europe, UK, Germany, Russia & more. [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Qatar, Europe Middle East Africa, Rupert Neil Bumfrey, Europe UK Germany Russia, Bloomberg UAE


Middle East Deals: Banks Talk Consolidation to Weather Oil, Virus - Bloomberg

Middle East Deals: Banks Talk Consolidation to Weather Oil, Virus - Bloomberg:The global pandemic and an oil price rout are prompting a new wave of consolidation talk among banks in the Middle East. In recent weeks, two potential tie-ups in Saudi Arabia and Qatar have been announced, adding momentum to an already unprecedented merger and acquisition spree. With about $440 billion of deals on the table, here’s what’s in the works:National Commercial Bank and Samba Saudi Arabia’s largest lender by...
Tags: Travel, Saudi Arabia, Qatar, Bloomberg, Middle East, Riyad Bank, NCB, Rupert Neil Bumfrey, Samba Financial Group, National Commercial Bank, Samba Saudi Arabia


Middle East News: Train Linking Gulf States Due to Start in 2023 - Bloomberg

Middle East News: Train Linking Gulf States Due to Start in 2023 - Bloomberg:A $15 billion train project connecting Gulf Cooperation Council states is expected to start operating in 2023, Saudi Arabia’s Al-Jazira newspaper reported.The first phase of the Gulf Railway Project, which is expected to be finalized that year, will connect Saudi Arabia, the United Arab Emirates and Oman, the newspaper said, citing new details on the timetable from the GCC Secretariat. The second phase linking Saudi Ara...
Tags: Travel, Saudi Arabia, Qatar, Bloomberg, GCC, United Arab Emirates, Oman, Bahrain, Uae, Gulf, Gulf Cooperation Council, Al Jazira, Saudi Arabia Kuwait, GCC Secretariat, Rupert Neil Bumfrey, Gulf Railway Project


MIDEAST STOCKS-Banks buoy #Saudi index; other major Gulf markets quiet - Agricultural Commodities - Reuters

MIDEAST STOCKS-Banks buoy Saudi index; other major Gulf markets quiet - Agricultural Commodities - Reuters:The Saudi Arabian stock market rose in early trade on Sunday, buoyed by its banking shares, while other major Gulf bourses were little changed.Saudi Arabia’s benchmark index gained 0.6%, driven by a 0.5% rise in Al Rajhi Bank and a 1% increase in Riyad Bank.The kingdom extended for an additional period several government initiatives to support the private sector and investors in mitigating ...
Tags: Travel, Saudi Arabia, Qatar, Spa, Gulf, Salman, Riyad Bank, Rupert Neil Bumfrey, Al Rajhi Bank, Masraf Al Rayan, Qatar National Bank the Gulf, Agricultural Commodities Reuters


Supertanker state: How #Qatar is gambling its future on global gas dominance | Middle East Eye

Supertanker state: How Qatar is gambling its future on global gas dominance | Middle East Eye:When Saudi Arabia caused oil prices to tumble in March the impact on oil producers’ revenues was immediate. But in neighbouring Qatar, which is a leading producer of liquefied natural gas (LNG), the situation is more complicated.Last year, LNG accounted for $45.3bn (62 percent) of Qatar’s $73.1bn in export revenues. LNG prices are linked to oil and have also plummeted since March, though with one crucia...
Tags: Travel, Saudi Arabia, Qatar, Middle East, Rupert Neil Bumfrey, Middle East Eye


MIDEAST STOCKS-Banks buoy Qatar's index, DAMAC surges on buyout report - Agricultural Commodities - Reuters

MIDEAST STOCKS-Banks buoy Qatar's index, DAMAC surges on buyout report - Agricultural Commodities - Reuters:Qatar's banking shares ended higher onWednesday after two lenders in the sector said they had startedmerger talks, while Dubai-listed DAMAC Properties surged on areport its chairman might take it private.The Qatar index advanced 1%, led by a 5% jump inMasraf Al Rayan after it and Al Khaliji CommercialBank said they had started negotiating a potentialmerger that could create a combined enti...
Tags: Travel, Qatar, Dubai, DAMAC Properties, Rupert Neil Bumfrey, QNB Financial Services, Agricultural Commodities Reuters, Al Khaliji Commercial Bank, Al Khaliji CommercialBank, Al Khalijihas


MIDEAST STOCKS-Masraf Al Rayan boosts Qatar, DAMAC surges on buyout report - Agricultural Commodities - Reuters

MIDEAST STOCKS-Masraf Al Rayan boosts Qatar, DAMAC surges on buyout report - Agricultural Commodities - Reuters:Qatar’s stock market jumped on Wednesday, boosted by Masraf Al Rayan after the lender and Al Khaliji Commercial Bank said they had started merger talks, while Dubai-listed DAMAC Properties surged on a report its chairman might take it private.In Qatar, the index advanced 1.5%, boosted by a 6.8% jump in Masraf Al Rayan.The merger could create a combined entity with more than 164 billion...
Tags: Travel, Qatar, Middle East, Dubai, DAMAC Properties, Rupert Neil Bumfrey, Damac, Masraf Al Rayan, Agricultural Commodities Reuters, Al Khaliji Commercial Bank


#Qatar banks Al Khaliji and Masraf Al Rayan begin merger talks - Reuters

Qatar banks Al Khaliji and Masraf Al Rayan begin merger talks - Reuters:Qatari lenders al Khaliji KCBK.QA and Masraf Al Rayan MARK.QA said on Tuesday they had started negotiating a potential merger that could create a combined entity with more than 164 billion riyals ($45.04 billion) in total assets.The merger is subject to regulatory approval from authorities including the Qatar Central Bank, the Qatar Financial Markets Authority, and the Ministry of Commerce, and the approval of the two banks’...
Tags: Travel, Qatar, Reuters, Ministry of Commerce, Rupert Neil Bumfrey, Barwa, Masraf Al Rayan, Barwa Bank, Al Khaliji, Masraf Al Rayan MARK QA


European, Middle Eastern & African Stocks - Bloomberg #UAE - close #SaudiArabia #Qatar mid-session

European, Middle Eastern & African Stocks - Bloomberg:Updated stock indexes in Europe, Middle East & Africa. Get an overview of major indexes, current values and stock market data in Europe, UK, Germany, Russia & more. [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Qatar, Europe Middle East Africa, Rupert Neil Bumfrey, Europe UK Germany Russia, Bloomberg UAE


Israel Shares Lead Mideast Losses on U.S. Spillover: Inside EM - Bloomberg

:The main equities index in Israel dropped the most in the Middle East as investors catch up with a decline in Wall Street last week amid a resurgence in coronavirus infections in different parts of the U.S.The TA-35 declined 2% as of 11:45 a.m. in Tel Aviv, with Teva Pharmaceutical Industries pressuring the index the most. Israel’s stock market is highly correlated to the U.S., where many Israeli shares are cross-listed. The S&P 500 dropped 2.4% on Friday as Texas and Florida halted drinking at...
Tags: Travel, Florida, Texas, Saudi Arabia, Wall Street, Israel, Tel Aviv, Qatar, Bloomberg, Middle East, Arizona, United Arab Emirates, Kuwait, Teva Pharmaceutical Industries, Rupert Neil Bumfrey, Samba Financial Group


MIDEAST STOCKS-NCB, Samba jump on potential merger; #Qatar eases - Agricultural Commodities - Reuters

MIDEAST STOCKS-NCB, Samba jump on potential merger; Qatar eases - Agricultural Commodities - Reuters:Saudi Arabia’s stock market rose on Sunday, boosted by National Commercial Bank and Samba Financial Group Bank after they signed an initial merger agreement, while Qatar’s index retreated in early trade.The benchmark index in Saudi Arabia rose 0.9%, with Samba Financial Group jumping 9.9% and National commercial Bank (NCB) up 5.2%.NCB, the kingdom’s biggest lender, said on Thursday it had signed ...
Tags: Travel, Saudi Arabia, Qatar, Samba, National Commercial Bank NCB, NCB, Rupert Neil Bumfrey, Samba Financial Group, National Commercial Bank, Agricultural Commodities Reuters, NCB Samba, Samba Financial Group Bank



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