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EIG-led consortium closes $12.4 bln Aramco pipelines deal | Reuters

EIG-led consortium closes $12.4 bln Aramco pipelines deal | Reuters U.S.-based EIG Global Energy Partners said on Friday a consortium it led has closed a deal to buy 49% of Saudi oil producer Aramco's (2222.SE) pipelines business for $12.4 billion.EIG said the co-investment process for the deal attracted a global group of investors from China, Saudi Arabia, Korea, the United Arab Emirates and the United States.It included Abu Dhabi's Mubadala Investment Company, Silk Road Fund, Hassana and Sam...
Tags: Travel, United States, United Arab Emirates, Abu Dhabi, Reuters, Aramco, Reuters U S, EIG, Rupert Neil Bumfrey, EIG Global Energy Partners, China Saudi Arabia Korea, Mubadala Investment Company Silk Road Fund Hassana, Samsung Asset Management


Oil gains on OPEC outlook that U.S. output growth will slow | Reuters

Oil gains on OPEC outlook that U.S. output growth will slow | Reuters Oil futures rose on Friday, reversing early losses and set for a fourth week of gains after OPEC sources said the producer group expected limited U.S. oil output growth this year despite rising prices.Officials at the Organization of the Petroleum Exporting Countries got the U.S. production outlook from industry experts, OPEC sources said. This would give the producer group more power to manage the market before a potential ...
Tags: Travel, Opec, Chicago, Reuters, Reuters Oil, Organization of the Petroleum Exporting Countries, Rupert Neil Bumfrey, Phil Flynn, Price Futures Group


The EU has lifted restrictions for all US travelers, whether they're vaccinated against COVID, or not

European tourists outside the Louvre in Paris. Francois Mori/AP Photo American travelers can start taking European vacations again, whether they're vaccinated or not. The European Council said Friday that member states should "gradually lift the travel restrictions." The list will be reviewed every two weeks, and will be updated as needed, the council said. See more stories on Insider's business page. The European Union has officially lifted all bans against American travelers.In a...
Tags: Travel, Hong Kong, News, US, Trends, Eu, European Union, Cnn, Tourism, Louvre, Reuters, European Council, Speed desk, Paris Francois Mori, Deutsche Welle France s Agence France Presse, Alexandra Ma Sophia Ankel


Oil drops amid dollar strength; demand picture still bullish | Reuters

Oil drops amid dollar strength; demand picture still bullish | Reuters Oil prices fell for a second straight session on Friday as the U.S. dollar soared on the prospect of interest rate hikes in the United States, but they were on track to finish the week little changed and only slightly off multi-year highs.Brent crude futures were down 45 cents, or 0.6%, at $72.63 a barrel as of 0700 GMT, extending a 1.8% decline on Thursday. The contract is on track to be flat for the week.U.S. West Texas I...
Tags: Travel, United States, Reuters, Reuters Oil, U S Federal Reserve, Rupert Neil Bumfrey


Oil falls from multi-year highs on firmer dollar, hike in UK COVID cases | Reuters

Oil falls from multi-year highs on firmer dollar, hike in UK COVID cases | Reuters Crude oil prices fell nearly 2% from their highest level in years on Thursday as the dollar strengthened after the U.S. Federal Reserve signaled it might raise interest rates as soon as 2023.Oil demand worries resurfaced after new coronavirus cases jumped in Britain, while supply concerns over the return of Iranian barrels also weighed on the market.Traders, however, said Friday'spresidential elections in Iran c...
Tags: Travel, UK, Washington, Iran, Britain, Tehran, Reuters, Reuters Crude, U S Federal Reserve, Rupert Neil Bumfrey


#UAE central bank raises benchmark interest rate in step with Fed | Reuters

UAE central bank raises benchmark interest rate in step with Fed | Reuters The United Arab Emirates central bank raised its key overnight interest rate by 5 basis points on Thursday, in step with a similar move by the U.S. Federal Reserve a day earlier.The UAE's base rate for overnight deposits is anchored to the Fed's Interest on Excess Reserves (IOER), which the U.S. central bank raised by 5 basis points to 0.15% at the end of a two-day policy meeting on Wednesday.The UAE central bank said i...
Tags: Travel, United Arab Emirates, Uae, Fed, Reuters, U S Federal Reserve, US Federal Reserve Board, Rupert Neil Bumfrey


Oil tumbles 3% from multi-year highs on stronger dollar | Reuters

Oil tumbles 3% from multi-year highs on stronger dollar | Reuters Oil prices slumped nearly 3% from their highest level in years on Thursday as the U.S. dollar strengthened after the Federal Reserve signaled it might raise interest rates as soon as 2023 and hopes the United States and Iran could come to a nuclear agreement.But an upcoming election in Iran on Friday could scuttle the nuclear talks and leave U.S. sanction on Iran's oil exports in place.Brent futures fell $2.07, or 2.8%, to $72.3...
Tags: Travel, Iran, United States, Federal Reserve, Reuters, Reuters Oil, Rupert Neil Bumfrey


MIDEAST STOCKS #Dubai bourse gains, major Gulf markets fall | Reuters

MIDEAST STOCKS Dubai bourse gains, major Gulf markets fall | Reuters Most major stock markets in the Gulf ended lower on Thursday, although the Dubai index was boosted by gains in financial shares.Dubai's main share index (.DMFGI) finished 0.8% higher, buoyed by a 1.8% rise in Emirates NBD Bank (ENBD.DU) and a 0.8% increase in sharia-compliant lender Dubai Islamic Bank (DISB.DU).The United Arab Emirates (UAE) central bank raised its key overnight interest rate by 5 basis points on Thursday...
Tags: Travel, Saudi Arabia, Dubai, Abu Dhabi, Uae, Gulf, Reuters, U S Federal Reserve, United Arab Emirates UAE, Qatar National Bank, Tasi, Rupert Neil Bumfrey, ADCB, Gulf Egypt, First Abu Dhabi Bank, Bank of America Securities


Investor sells $300 mln worth of shares in #UAE's ADCB -term sheet | Reuters

An undisclosed investor has sold 1.1 billion dirhams ($300 million) worth of shares in Abu Dhabi Commercial Bank (ADCB.AD), United Arab Emirates' third-biggest lender, a term sheet seen by Reuters showed.The investor sold 164 million shares at 6.70 dirhams a share through Bank of America Securities and Emirates NBD Capital, the term sheet said.ADCB shares were down nearly 1% in late morning trade at 7.02 dirhams, recovering from an early low of 6.95 dirhams. [Author: [email protected] (Rup...
Tags: Travel, United Arab Emirates, Uae, Reuters, Rupert Neil Bumfrey, ADCB, Abu Dhabi Commercial Bank ADCB, Bank of America Securities, Emirates NBD Capital


MIDEAST STOCKS Major Gulf indexes mixed, #Saudi market gains | Reuters

MIDEAST STOCKS Major Gulf indexes mixed, Saudi market gains | Reuters Major Gulf stock markets were mixed in early trade on Thursday with the Saudi index supported by gains in financial shares.Saudi Arabia's benchmark index (.TASI) edged up 0.1%, helped by a 0.2% gain in Al Rajhi Bank (1120.SE) and 0.8% rise in Riyad Bank (1010.SE).Goldman Sachs raised its expectations for Saudi Arabian growth this year and in 2022 amid rising oil prices and an increase in oil output by the kingdom.Dubai's mai...
Tags: Travel, Saudi Arabia, Dubai, Abu Dhabi, Gulf, Reuters, Adi, Commercial Bank, Tasi, Rupert Neil Bumfrey, ADCB, QSI, Al Rajhi Bank, Qatar National Bank QNBK, Abu Dhabi Commercial Bank ADCB ADCB, Dubai Investments DINV


Oil settles near $75, at multi-year highs | Reuters

Oil settles near $75, at multi-year highs | Reuters Oil prices rose for a fifth day on Wednesday, closing in on $75 a barrel as U.S. refiners drew more crude inventories to ramp up activity and meet recovering demand.Crude inventories fell by 7.4 million barrels in the week to June 11, the U.S. Energy Information Administration said, as refining utilization rose to 92.6%, highest since January 2020, before the pandemic hit.The inventory draw was stronger than expected, driven as well by export...
Tags: Travel, Reuters, Reuters Oil, U S Energy Information Administration, Matthew Smith, Rupert Neil Bumfrey, ClipperData


MIDEAST STOCKS Most major Gulf bourses in red; financials aid #Saudi | Reuters

MIDEAST STOCKS Most major Gulf bourses in red; financials aid Saudi | Reuters Most major stock markets in the Gulf ended lower on Wednesday, with the Dubai index leading the losses, while financial shares bolstered the Saudi bourse.Dubai's main share index (.DFMGI) declined 1%, with sharia-compliant lender Dubai Islamic Bank (DISB.DU) and blue-chip developer Emaar Properties (EMAR.DU) both losing 1.4%.Elsewhere, DAMAC Properties (DAMAC.DU) retreated 1.5%.Last week, United Arab Emirates prop...
Tags: Travel, Qatar, United Arab Emirates, Dubai, Abu Dhabi, Uae, Gulf, Reuters, Riyad Bank, Tasi, Rupert Neil Bumfrey, ADCB, QSI, Hussain Sajwani, Gulf Egypt, DFMGI


#AbuDhabi's ADQ invests in Indian learning startup Byju's -exec | Reuters

Abu Dhabi's ADQ invests in Indian learning startup Byju's -exec | Reuters Abu Dhabi's state holding company ADQ has invested in India's online tutoring firm Byju's, which has emerged as one of the country's most valuable startups."We met Byju in 2020 and were floored by his story. Honored to now be a part of it!," said Mayank Singhal, head of venture capital and technology at ADQ said in a Linkedin post.ADQ has not commented on how much it has invested in the startup. Byju's declined to commen...
Tags: Travel, India, Linkedin, Abu Dhabi, Reuters, Reuters Abu Dhabi, Rupert Neil Bumfrey, Byju, India s Economic Times, Mayank Singhal, ADQ


The EU plans to lift restrictions for all US travelers, reports say

European tourists outside the Louvre in Paris, France. Francois Mori/AP Photo American travelers could start taking European vacations again soon. EU states agreed Wednesday to allow nonessential travel from the US, European media reported. Reuters reported that the change could take place in the coming days. See more stories on Insider's business page. The European Union plans to drop all bans against American travelers, multiple reports say.EU member states agreed Wednesday to lift C...
Tags: Travel, Hong Kong, News, France, US, Trends, Eu, European Union, Tourism, European Commission, Louvre, Reuters, Alexandra Ma, Travelers, Paris France, Deutsche Welle


MIDEAST STOCKS Major stock markets in the Gulf end mixed | Reuters

MIDEAST STOCKS Major stock markets in the Gulf end mixed | Reuters Major stock markets in the Gulf ended mixed on Tuesday, with financial shares weighing on the Saudi index and property stocks bolstering Dubai.Saudi Arabia's benchmark index (.TASI) dropped 0.8%, weighed down by a 2.1% decline in Al Rajhi Bank (1120.SE) and a 2.3% slide in Saudi Telecom Company (7010.SE).The kingdom's inflation rate rose for the second consecutive month in May, climbing to 5.7% from 5.3% in April, again refl...
Tags: Travel, Qatar, Middle East, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Reuters Major, Dubai Saudi Arabia, Tasi, Saudi Telecom Company, Rupert Neil Bumfrey, QSI, Hussain Sajwani, Al Rajhi Bank


Analysis: DAMAC delisting plan piles pressure on shrinking Dubai market | Reuters

Analysis: DAMAC delisting plan piles pressure on shrinking Dubai market | Reuters Dubai’s stock market is set for another delisting, raising a question mark over the future of one of the Gulf’s major exchanges, which was launched two decades ago.A $595 million bid to take DAMAC Properties (DAMAC.DU) private by the firm’s founder Hussain Sajwani is the latest blow to the exchange, even as the Gulf city state’s property market showed signs of life in the first quarter."It is not that Dubai is b...
Tags: Travel, London, Saudi Arabia, Dubai, Abu Dhabi, Gulf, Reuters, Emaar Properties, Dubai Financial Market DFM, Arabtec, Rupert Neil Bumfrey, Hussain Sajwani, Reuters Dubai, DFM, Nasdaq Dubai, Reuters Analysts


#Dubai Islamic Bank gives initial guidance for 5-yr dollar sukuk - document | Reuters

Dubai Islamic Bank gives initial guidance for 5-yr dollar sukuk - document | Reuters Dubai Islamic Bank (DISB.DU), the United Arab Emirates' largest Islamic lender, gave initial price guidance of around 135 basis points over mid-swaps for five-year U.S. dollar-denominated sukuk, or Islamic bonds, a document showed on Tuesday.Bank ABC, Dubai Islamic Bank (DISB.DU), Emirates NBD Capital (ENBD.DU), First Abu Dhabi Bank (FAB.AD), HSBC (HSBA.L), KFH Capital (KFH.KW), Standard Chartered (STAN.L) and...
Tags: Travel, United Arab Emirates, Reuters, Islamic Corporation, Rupert Neil Bumfrey, Dubai Islamic Bank, Reuters Dubai Islamic Bank DISB


MIDEAST STOCKS Major Gulf bourses ease in early trade as financial shares drag | Reuters

Major stock markets in the Gulf were subdued in early trade on Tuesday, mostly hurt by losses in financial shares in the absence of fresh factors to trade on.Saudi Arabia's benchmark index (.TASI) fell 0.4%, with Al Rajhi Bank (1120.SE) losing 0.9%, while Saudi Arabian Mining Company (1211.SE) retreated 1.2%.The kingdom's inflation rate rose for the second consecutive month, climbing to 5.7% in May from 5.3% in April, again reflecting a tripling of value-added tax to 15% last year, official data...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Abu Dhabi, Gulf, Reuters, Adi, Tasi, Rupert Neil Bumfrey, Hussain Sajwani, Al Rajhi Bank, First Abu Dhabi Bank, DFMGI, Qatar National Bank QNBK, Emirates NBD Bank ENBD


Oil gains as risk of Iran supply resumption recedes | Reuters

Oil gains as risk of Iran supply resumption recedes | Reuters Oil prices rose on Tuesday, with Brent gaining for a fourth consecutive session, as the prospect of extra supply coming to the market soon from Iran faded with talks dragging on over the United States rejoining a nuclear agreement with Tehran. Brent crude was up by 38 cents, or 0.5%, at $73.24 a barrel by 0651 GMT, having risen 0.2% on Monday. U.S. oil gained 33 cents, or 0.5%, to $71.21 a barrel, having slipped 3 cents in the pre...
Tags: Travel, Opec, European Union, Iran, Vienna, United States, Tehran, Reuters, Reuters Oil, Rupert Neil Bumfrey, ING Economics, Tehran Brent


Oil steadies after hitting 2-yr high as demand hopes face supply growth | Reuters

Oil steadies after hitting 2-yr high as demand hopes face supply growth | Reuters Oil prices ended mostly unchanged on Monday, after hitting their highest levels in more than two years, as growing U.S. crude production and Britain's delayed COVID-19 reopening dampened expectations for fuel demand growth and tighter supplies.The market reacted negatively to a U.S. Energy Information Administration (EIA) forecast that shale oil output, which accounts for more than two-thirds of U.S. production, ...
Tags: Travel, Chicago, Britain, EIA, Reuters, Reuters Oil, Rupert Neil Bumfrey, U S Energy Information Administration EIA, Phil Flynn, Price Futures Group


MIDEAST STOCKS Rising oil prices, economic recovery lift Gulf stocks | Reuters

MIDEAST STOCKS Rising oil prices, economic recovery lift Gulf stocks | Reuters Major stock markets in the Gulf ended higher on Monday, as investors eye economic recovery and rising oil prices which gained on an improved outlook for worldwide fuel demand. Brent was up 64 cents, or 0.9%, at $73.34 a barrel by 1246 GMT, its highest since May 2019. "GCC economies tend to heavily depend on oil price movements and should see solid support thanks to rising crude prices. This effect will be ob...
Tags: Travel, France, Saudi Arabia, Qatar, Egypt, GCC, Dubai, Abu Dhabi, Cairo, Gulf, Reuters, Reuters Major, United Arab Emirates UAE, Tasi, Rupert Neil Bumfrey, QSI


EXCLUSIVE Energy majors bid for #Qatar LNG project despite lower returns | Reuters

EXCLUSIVE Energy majors bid for Qatar LNG project despite lower returns | Reuters Six top western energy firms are vying to partner in the vast expansion of Qatar’s liquefied natural gas output, industry sources said, helping the Gulf state cement its position as the leading LNG producer while several large projects around the world recently stalled.Exxon Mobil, Royal Dutch Shell, TotalEnergies and ConocoPhillips, which are part of Qatar's existing LNG production were joined by new entrants Ch...
Tags: Travel, Qatar, Italy, Chevron, ConocoPhillips, Gulf, Reuters, Eni, Rupert Neil Bumfrey, Qatar Petroleum QP, Exxon Mobil Royal Dutch Shell


#Saudi first quarter GDP shrinks 3%, hit by oil sector decline | Reuters

Saudi first quarter GDP shrinks 3%, hit by oil sector decline | Reuters Saudi Arabia’s gross domestic product fell 3% in the first quarter, slightly less than official estimates and compared with a 1% contraction last year, as a sharp fall in the oil sector pulled back the economy, data showed.The kingdom’s economy has been hit hard by the twin shock of last year’s historic oil price crash and the COVID-19 pandemic.The non-oil sector grew 2.9%, from 1.6% growth a year earlier, while the oil se...
Tags: Travel, Reuters, Mohammed bin Salman, Reuters Saudi Arabia, Rupert Neil Bumfrey, General Authority for Statistics


#Dubai plane leasing firm DAE adds more banks to bond deal | Reuters

Dubai plane leasing firm DAE adds more banks to bond deal | Reuters Dubai Aerospace Enterprise (DAE), one of the world's biggest aircraft leasing companies, has added more banks to its planned sale of U.S. dollar-denominated bonds that would be its second this year, an investor presentation seen by Reuters showed.DAE, owned by the Dubai government's main investment arm the Investment Corporation of Dubai, will issue bonds in tranches of three- and/or seven years to exercise a call option on bo...
Tags: Travel, Dubai, Reuters, Dae, Rupert Neil Bumfrey, Investment Corporation of Dubai, Reuters Dubai Aerospace Enterprise DAE


MIDEAST STOCKS Gulf markets make gains on oil, economic recovery | Reuters

MIDEAST STOCKS Gulf markets make gains on oil, economic recovery | Reuters Major Gulf stock markets rose on Monday, lifted by optimism about economic recovery and oil prices which gained on an improved outlook for worldwide fuel demand.Oil prices are a key catalyst for the Gulf region's financial markets and Brent crude was up 76 cents, or 1.1%, at $73.43 a barrel at 0734 GMT, its highest level since May 2019. .Saudi Arabia's benchmark index (.TASI) gained 0.6%, with Al Rajhi Bank (1120.SE) ri...
Tags: Travel, Saudi Arabia, Qatar, GCC, Dubai, Abu Dhabi, Gulf, Reuters, United Arab Emirates UAE, Tasi, Rupert Neil Bumfrey, Saudi Basic Industries, Al Rajhi Bank, Emaar Properties EMAR DU, COVID, Emirates NBD Bank ENBD


Oil prices climb as demand outlook improves, supplies tighten | Reuters

Oil prices climb as demand outlook improves, supplies tighten | Reuters Oil prices rose on Monday, extending three weeks of gains that have been underpinned by an improved outlook for fuel demand as increased COVID-19 vaccinations help lift travel curbs, along with tightness in supply.Brent crude was up 51 cents, or 0.7%, at $73.20 a barrel by 0644GMT, the highest since May 2019. U.S. West Texas Intermediate gained 47 cents, or 0.7%, to $71.38 a barrel, the highest since October 2018.Motor veh...
Tags: Travel, Europe, Singapore, India, North America, Reuters, Reuters Oil, Avtar Sandu, Phillip Futures, Rupert Neil Bumfrey


MIDEAST STOCKS #Saudi index outperforms as financials boost; Egypt falls | Reuters

MIDEAST STOCKS Saudi index outperforms as financials boost; Egypt falls | Reuters Saudi Arabian shares ended higher on Sunday, outperforming other Gulf peers, buoyed by gains in banking stocks, while Egypt's blue-chip index extended losses.Saudi Arabia's benchmark index (.TASI) advanced 0.9%, lifted by a 3.8% rise in Al Rajhi Bank (1120.SE) and a 3.6% increase in Saudi Telecom Company (7010.SE).Elsewhere, Dur Hospitality Co (4090.SE) finished 0.6% higher after the firm said it is in merger ...
Tags: Travel, Saudi Arabia, Qatar, Egypt, Dubai, Abu Dhabi, Uae, Gulf, Reuters, United Arab Emirates UAE, Tasi, Rupert Neil Bumfrey, QSI, Al Rajhi Bank, Gulf Egypt, Reuters Saudi Arabian


MIDEAST STOCKS #Saudi index firms as other Gulf markets remain subdued | Reuters

MIDEAST STOCKS Saudi index firms as other Gulf markets remain subdued | Reuters Major Gulf stock markets were little changed in early trade on Sunday, though the Saudi index was up 0.4% to extend gains from the previous four sessions.Saudi Arabia's benchmark index (.TASI) was buoyed by Al Rajhi Bank (1120.SE) advancing by 0.8% while Saudi Telecom Company (7010.SE) was up 0.6%.In a blow for the Saudi economy the kingdom has restricted the annual haj pilgrimage to its own citizens and residents ...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Mecca, Abu Dhabi, Uae, Medina, Gulf, Reuters, United Arab Emirates UAE, Saudi Press Agency, Tasi, Saudi Telecom Company, Rupert Neil Bumfrey, Industries Qatar


#Saudi Aramco raises $6 billion with debut sukuk | Reuters

Saudi Aramco raises $6 billion with debut sukuk | Reuters Saudi Arabian oil giant Aramco (2222.SE) locked in another $6 billion on Wednesday to help fund a large dividend as it returned to the international debt markets with its first U.S. dollar-denominated sukuk sale, a document showed.The debt issuance, which will help fund a $75 billion dividend commitment that will mostly go to the government, comprises tranches of three, five and 10 years, a document from one of the banks arranging the d...
Tags: Travel, Saudi Arabia, Gulf, Reuters, Aramco, Saudi Aramco, Moody, BOC, UST, Rupert Neil Bumfrey, Dubai Islamic Bank, U S Treasuries UST, Citi C N HSBC, Standard Chartered Bank STAN L Passive


Oil hits multi-year highs in third weekly gain on demand recovery | Reuters

Oil prices reached fresh multi-year highs on Friday, closing out a third straight week of gains on an improved outlook for worldwide demand as rising COVID-19 vaccination rates help lift pandemic curbs.Brent crude futures settled at $72.69 a barrel, rising 17 cents after reaching their highest since May 2019. For the week, Brent was up 1%.U.S. West Texas Intermediate (WTI) crude futures settled at$70.91 a barrel,up 62 cents, settling at their highest since October 2018. WTI was up 1.9% on the we...
Tags: Travel, Opec, Chicago, Brent, Reuters, International Energy Agency IEA, Organization of the Petroleum Exporting Countries, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, Phil Flynn, Price Futures Group



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