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#AbuDhabi's Aldar second-quarter profit rises 2% - Reuters

Abu Dhabi's Aldar second-quarter profit rises 2% - Reuters:Abu Dhabi developer Aldar Properties (ALDAR.AD) reported a 2% rise in second-quarter profit on Thursday, although the company did not provide outlook for the rest of the year due to the COVID-19 pandemic.The state-linked builder of Abu Dhabi’s Formula One circuit made 484 million dirhams ($132 million) in the three months to June 30, compared with 476 million dirhams a year earlier.Revenue increased by 21% to 2 billion dirhams, driven by...
Tags: Travel, Abu Dhabi, Reuters, Rupert Neil Bumfrey, Abudhabi, Aldar, Aldar Properties ALDAR


#Saudi stock exchange to launch environmental index with MSCI: CEO - Reuters

Saudi stock exchange to launch environmental index with MSCI: CEO - Reuters:Saudi Arabia’s stock exchange (TADAWUL) plans to launch an environmental, social or governance (ESG) index in cooperation with global index provider MSCI by the fourth quarter of this year or first quarter of 2021, the bourse’s chief executive said on Wednesday.The index will include at least 70 Saudi listed companies and will be based on MSCI standards, Khalid Al-Hussan said at a virtual event.“Globally we understand th...
Tags: Travel, Saudi Arabia, ESG, Reuters, Tadawul, MSCI, Rupert Neil Bumfrey, Khalid Al Hussan


Russia's energy minister sees no hasty OPEC+ decisions this month: reports - Reuters

Russia's energy minister sees no hasty OPEC+ decisions this month: reports - Reuters:Russian Energy Minister Alexander Novak does not expect any hasty decisions on output cuts when an OPEC+ group monitoring committee meets next week as the oil market has been stable, Russian news agencies reported on Thursday.The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, have been cutting output since May by around 10% of typical global demand to tackle the fallout from th...
Tags: Travel, Russia, Opec, Reuters, Organization of the Petroleum Exporting Countries, Novak, Alexander Novak, Rupert Neil Bumfrey, JMMC, Joint Ministerial Monitoring Committee


Oil drops after OPEC predicts weaker demand but U.S. inventory data limits decline - Reuters

Oil drops after OPEC predicts weaker demand but U.S. inventory data limits decline - Reuters:Crude oil prices fell on Thursday after OPEC said it expected demand to drop more than expected, although data showing a decline in U.S. inventories lent support.Brent crude LCOc1 was down 26 cents or 0.6% at $45.17 a barrel by 0647 GMT, after a gain of around 2% in the previous session. West Texas Intermediate CLc1 oil also lost 0.6%, a 25 cent decline to $42.42 a barrel which followed a climb of 2.6% o...
Tags: Travel, Opec, Reuters, Organization of the Petroleum Exporting Countries, Avtar Sandu, Phillip Futures, Rupert Neil Bumfrey


MIDEAST STOCKS-Emirates NBD buoys #Dubai, other major Gulf markets also up - Reuters

MIDEAST STOCKS-Emirates NBD buoys Dubai, other major Gulf markets also up - Reuters:Major stock markets in the Gulf rose in early trade on Thursday, with the Dubai’s index boosted by a leap in top lender Emirates NBD.Dubai’s main share index advanced 1.2%, led by a 2.5% rise in its largest lender Emirates NBD.The bank is in preliminary discussions with Lebanon’s Blom Bank regarding the possibility of a potential acquisition of its existing shareholding in Blom Bank Egypt.DAMAC Properties, howeve...
Tags: Travel, Saudi Arabia, Dubai, Lebanon, Gulf, Reuters, Emirates NBD, Rupert Neil Bumfrey, Emirates NBD Dubai, Al Rajhi Bank, Blom Bank, Blom Bank Egypt DAMAC


#Oman secures $2 billion bridge loan: sources - Reuters

Oman secures $2 billion bridge loan: sources - Reuters:The government of Oman has signed a one-year $2 billion bridge loan with a group of international and regional banks, two sources with knowledge of the matter said on Wednesday.The loan, which will be repaid with money raised from an international bond issuance, will bolster state coffers hit by low oil prices and the economic downturn caused by the coronavirus crisis.The Omani finance ministry did not immediately respond to a Reuters reques...
Tags: Travel, Oman, Reuters, Reuters Oman, Bank Muscat, Rupert Neil Bumfrey, First Abu Dhabi Bank


RPT-NMC Health $275 mln rescue financing faces creditor opposition - sources - Reuters

RPT-NMC Health $275 mln rescue financing faces creditor opposition - sources - Reuters:NMC Health has secured loan commitments worth $275 million in a deal which would allow the lenders to improve their prospects of recovering money already owed by the United Arab Emirates troubled hospital operator, two sources said.But the financing, which offers beneficial terms to the debt providers, has created heated discussions among NMC lenders in recent days, with some creditors asking to be more involv...
Tags: Travel, London, United Arab Emirates, Uae, Reuters, NMC, Rupert Neil Bumfrey, Alvarez Marsal, NMC Health, NMC Health Plc, RPT NMC


OPEC trims 2020 oil demand, sees doubts about 2021 on virus fallout - Reuters

OPEC trims 2020 oil demand, sees doubts about 2021 on virus fallout - Reuters:World oil demand will fall more steeply in 2020 than previously forecast due to the coronavirus and there are doubts about next year’s recovery, OPEC forecast on Wednesday, potentially making it harder for the group and its allies to support the market.World oil demand will tumble by 9.06 million barrels per day (bpd) this year, the Organization of the Petroleum Exporting Countries said in a monthly report, more than t...
Tags: Travel, Opec, Reuters, Organization of the Petroleum Exporting Countries, Rupert Neil Bumfrey


Crude rises 2% after draw in U.S. oil stocks spurs demand hope - Reuters

Crude rises 2% after draw in U.S. oil stocks spurs demand hope - Reuters:Crude prices rose more than 2% on Wednesday after government data showed U.S. oil inventories fell across the board, bolstering hopes that fuel demand in the world’s biggest economy will withstand the coronavirus pandemic.Brent crude LCOc1 was up 95 cents, or 2.1%, at $45.44 a barrel by 11:02 a.m. EDT (1502 GMT), after falling around 1% on Tuesday.West Texas Intermediate CLc1 oil was up $1.00, or 2.5%, at $42.61 a barrel, h...
Tags: Travel, Energy Information Administration, Reuters, Rupert Neil Bumfrey


MIDEAST STOCKS- #Dubai leads most major Gulf markets higher; Egypt quiet - Reuters

MIDEAST STOCKS-Dubai leads most major Gulf markets higher; Egypt quiet - Reuters:Most major Gulf bourses ended higher onWednesday, with the Dubai's index buoyed by gains in EmiratesNBD Bank after its digital banking services were restored.Saudi Arabia's benchmark index added 0.3%, led by a1% gain in Al Rajhi Bank and a 3.1% leap in BanqueSaudi Fransi.Dubai's main share index gained 0.9%, boosted by a2.6% jump in Emirates NBD Bank.Abdulla Qassem, Emirates NBD's group chief operatingofficer, said ...
Tags: Travel, Saudi Arabia, Egypt, Dubai, Abu Dhabi, United, Gulf, Reuters, Air Arabia, Rupert Neil Bumfrey, Al Rajhi Bank, First Abu Dhabi Bank, EmiratesNBD Bank, BanqueSaudi Fransi Dubai, Emirates NBD Bank Abdulla Qassem Emirates NBD, Aldar Propertiesahead


Oil rises after bigger-than-expected drop in inventories - Reuters

Oil rises after bigger-than-expected drop in inventories - Reuters:Oil prices moved higher on Wednesday after an industry report showed that U.S. inventories of crude fell more than analysts expected, bolstering hopes that fuel demand in the world’s biggest economy can weather the coronavirus pandemic.Brent crude LCOc1 was up 52 cents, or 1.2%, at $45.02 a barrel by 0648 GMT, after falling around 1% on Tuesday.West Texas Intermediate CLc1 oil was up 49 cents, or 1.2%, at $42.10 a barrel, having ...
Tags: Travel, Reuters, American Petroleum Institute, Rupert Neil Bumfrey


MIDEAST STOCKS-Most major Gulf markets up but #AbuDhabi eases - Reuters

MIDEAST STOCKS-Most major Gulf markets up but Abu Dhabi eases - Reuters:Most major Gulf indexes were firm in early trade on Wednesday, but the Abu Dhabi index was hurt by a fall in the country’s largest lender.Saudi Arabia’s benchmark index was up 0.1%, with Al Rajhi Bank rising 1.1%, while Jarir Marketing increased 1.2%, extending gains from the previous session.On Tuesday, the Saudi retailer proposed a dividend of 1.70 riyal per share for the second quarter, versus 1.40 riyal a year earlier.Du...
Tags: Travel, Saudi Arabia, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Air Arabia, Rupert Neil Bumfrey, Jarir Marketing, Abudhabi, Al Rajhi Bank, Emirates NBD Bank


Oil eases as U.S. stimulus hopes dim, virus cases rise - Reuters

Oil eases as U.S. stimulus hopes dim, virus cases rise - Reuters:Oil prices fell about 1% on Tuesday after rising earlier in the session as hopes dimmed for a swift stimulus package to relieve the U.S. economy as coronavirus cases increased globally.Brent crude LCOc1 futures fell 49 cents, or 1.1%, to settle at $44.50 a barrel. U.S. West Texas Intermediate (WTI) crude CLc1 futures fell 33 cents, or 0.8%, to finish at $41.61 a barrel.Some profit-taking ahead of weekly U.S. oil inventory data weig...
Tags: Travel, Reuters, U S Senate, Rupert Neil Bumfrey


Oil higher on hopes for U.S. stimulus, demand recovery - Reuters

Oil higher on hopes for U.S. stimulus, demand recovery - Reuters:Crude oil prices rose on Tuesday, underpinned by expectations of a U.S. stimulus to help jumpstart the world’s biggest oil consumer, a rebound in Asian demand as economies reopen and a stronger stock market.Brent crude LCOc1 added 29 cents, or 0.6%, to $45.28 a barrel, by 0819 GMT. West Texas Intermediate U.S. crude CLc1 rose 38 cents, or 0.9%, to $42.32 a barrel.U.S. President Donald Trump tweeted that top congressional Democrats ...
Tags: Travel, Donald Trump, Trump, Reuters, Rupert Neil Bumfrey, PVM, Tamas Varga


MIDEAST STOCKS- #AbuDhabi index leads major Gulf markets higher - Reuters

MIDEAST STOCKS-Abu Dhabi index leads major Gulf markets higher - Reuters:Major stock markets in the Gulf rose in early trade on Tuesday, with the Abu Dhabi index boosted by gains in International Holding’s shares following a sharp rise in its second-quarter profit.Saudi Arabia’s benchmark index was up 0.2%, with Al Rajhi Bank rising 0.7% and oil giant Saudi Aramco increasing 0.3%.Aramco is moving ahead with plans to boost crude output capacity by 1 million barrels per day (bpd) to 13 million bpd...
Tags: Travel, Saudi Arabia, Abu Dhabi, Gulf, Reuters, Aramco, Saudi Aramco, Rupert Neil Bumfrey, Al Rajhi Bank, Amin Nasser, International Holding, Jarir Marketing Company


Russian antitrust authority raps Apple for abusing dominance on App Store

The Russian Antimonopoly Service pulled up Apple on Monday for what it called abuse of “dominant position in relation to the developers of mobile parental control applications and limited competition in the market for the distribution of applications for mobile devices operating the iOS operating system”. “Apple will be issued with an injunction to correct the breach,” FAS said. Apple told Reuters, which first reported the ruling, that it will appeal the decision; the company told MediaNama it h...
Tags: Travel, Apple, Cook, News, Russia, Competition, Kaspersky, Tim Cook, Antitrust, App Store, Reuters, Ras, FAS, Medianama, Russian Antimonopoly Service, App Store exclusivity Apple


#Saudi Aramco to press ahead with plan to boost output capacity, CEO says - Reuters

Saudi Aramco to press ahead with plan to boost output capacity, CEO says - Reuters:Saudi Aramco (2222.SE) is moving ahead with plans to boost crude output capacity by 1 million barrels per day (bpd) to 13 million bpd despite cuts in capital expenditure this year and next year, the state oil group’s CEO said on Monday.Aramco’s capital spending plan for 2021 will be “significantly lower than previous guidance,” CEO Amin Nasser also said on a call with analysts and investors after the company’s sec...
Tags: Travel, Reuters, Saudi Aramco, Nasser, Rupert Neil Bumfrey, Amin Nasser, Monday Aramco


Oil settles higher on Chinese factory data, U.S. stimulus hopes - Reuters

Oil settles higher on Chinese factory data, U.S. stimulus hopes - Reuters:Oil settled higher on Monday, supported by data suggesting Chinese factories were returning to pre-pandemic levels, signs of rising energy demand and hopes for an agreement in the United States on more coronavirus-related economic stimulus.Brent crude LCOc1 settled up 59 cents, or 1.3%, to $44.99 a barrel. West Texas Intermediate U.S. crude CLc1 was up 72 cents, or 1.8%, to $41.94 a barrel.Prices also found support after U...
Tags: Travel, United States, Donald Trump, Trump, Reuters, Rupert Neil Bumfrey


Oil rises 1% on #Saudi Aramco's upbeat demand view, Iraq supply cut - Reuters

Oil rises 1% on Saudi Aramco's upbeat demand view, Iraq supply cut - Reuters:Oil prices climbed on Monday, supported by Saudi optimism about Asian demand and an Iraqi pledge to deepen supply cuts, although uncertainty over a deal to shore up the U.S. economic recovery capped gains.Brent crude LCOc1 futures rose 34 cents, or 0.8%, to $44.74 a barrel by 0641 GMT, while U.S. West Texas Intermediate (WTI) crude CLc1 futures were up 47 cents, or 1.1%, to $41.69 a barrel.Both benchmark contracts fell ...
Tags: Travel, Iraq, Brent, Reuters, Aramco, Saudi Aramco, Cmc, Michael McCarthy, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


MIDEAST STOCKS-Most major Gulf markets gain as financials jump - Reuters

MIDEAST STOCKS-Most major Gulf markets gain as financials jump - Reuters:Most major Gulf stock markets advanced in early trade on Monday, supported by gains in their financial shares, although Qatar bucked the regional trend to trade lower.Saudi Arabia’s benchmark index ticked up 0.2%, with Saudi Arabia Fertilizers rising 2.5% and the kingdom’s largest lender, National Commercial Bank, gaining 0.4%.Oil giant Saudi Aramco firmed 0.3%. The state-owned company on Sunday reported a 73% plunge in pro...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Gulf, Reuters, Saudi Aramco, Emaar Properties, Rupert Neil Bumfrey, Dubai Islamic Bank, National Commercial Bank


MIDEAST STOCKS-Egypt outperforms Mideast markets; Aramco's Q2 profit slides - Reuters

MIDEAST STOCKS-Egypt outperforms Mideast markets; Aramco's Q2 profit slides - Reuters:The Egyptian bourse rose sharply onSunday, extending gains for a fifth straight session as most ofits constituents were in positive territory, while the Saudiindex ended higher helped by its financial shares.Saudi Arabia's benchmark index rose 0.4%, led by a0.8% gain in Al Rajhi Bank and a 1.5% increase inBanque Saudi Fransi.Elsewhere, state-owned oil company Saudi Aramcoadded 0.3% despite reporting a steep dec...
Tags: Travel, Saudi Arabia, Egypt, Reuters, Aramco, Mideast, Rupert Neil Bumfrey, Al Rajhi Bank, Amin Nasser, Saudi Aramcoadded


MIDEAST STOCKS-Major Gulf markets mixed; Aramco's Q2 profit declines - Reuters

MIDEAST STOCKS-Major Gulf markets mixed; Aramco's Q2 profit declines - Reuters:Dubai’s stock market traded lower early on Sunday, hurt by losses at financials and property shares, while other major bourses in the Gulf were little changed.Saudi Arabia’s benchmark index rose 0.3%, with Al Rajhi Bank gaining 0.7%, while oil giant Saudi Aramco was up 0.3% despite reporting a fall in second-quarter profit.Aramco’s net profit fell to 24.6 billion riyals ($6.56 billion) for the quarter to June 30 from ...
Tags: Travel, Saudi Arabia, Dubai, Gulf, Reuters, Aramco, Saudi Aramco, Emaar Properties, Rupert Neil Bumfrey, Al Rajhi Bank, Emirates NBD Bank, COVID


Yara expects $1 billion #Qatar sales proceeds by end-August - Reuters

Yara expects $1 billion Qatar sales proceeds by end-August - Reuters:Yara (YAR.OL), one of the world’s largest fertiliser-makers, expects to finalise its long-awaited sale of a stake in Qatar Fertiliser Company later this month, a senior executive at the Norwegian firm said on Friday.In its earnings report for the second quarter, released on July 17, Yara had said it expected to complete the $1 billion transaction “within 2-3 weeks”, followed by a share buyback program, leading some analysts to ...
Tags: Travel, Qatar, Reuters, Yara, Rupert Neil Bumfrey, Qatar Petroleum, QAFCO, Qatar Fertiliser Company, Thor Giaever


Oil slips below $45/bbl on demand concerns but posts weekly rise - Reuters

Oil slips below $45/bbl on demand concerns but posts weekly rise - Reuters:Oil prices fell nearly 2% on Friday, limiting their weekly gain due to concerns the global recovery could falter from a resurgence of coronavirus cases.The rise in infections remains the dominant issue for the fuel demand outlook. Cases in the United States are still rising in a number of states, while India recently reported a record daily jump in infections. More than 700,000 people have died in the worldwide pandemic.B...
Tags: Travel, India, United States, Wti, Reuters, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


Oil slips to $45 on demand concerns, set for weekly rise - Reuters

Oil slips to $45 on demand concerns, set for weekly rise - Reuters:Oil dipped to around $45 a barrel on Friday on worries that a demand recovery would slow due to a resurgence of coronavirus cases, although a pledge from OPEC member Iraq to cut oil output further in August lent support.The resurgence of infections remains a key issue for the market and demand outlook. Tallies show cases in the United States are rising in a number of states. India reported on Friday a record daily jump in infecti...
Tags: Travel, Iraq, India, Opec, United States, Donald Trump, Reuters, U S Congress, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


Oil settles below 5-month highs amid fuel demand worries - Reuters

Oil settles below 5-month highs amid fuel demand worries - Reuters:Oil prices hovered below five-month highs on Thursday, falling after a session in which bearish sentiment about fuel demand counteracted optimism about Iraq’s supply cuts, pushing the benchmarks in and out of positive territory. Concerns remain that demand is depressed by the economic slowdown due to the coronavirus pandemic, said Phil Flynn, senior analyst at Price Futures Group in Chicago.“Everyone is waiting for the coronaviru...
Tags: Travel, Iraq, Chicago, Reuters, Rupert Neil Bumfrey, Phil Flynn, Price Futures Group


Oil prices just under five-month highs, supported by weaker dollar - Reuters

Oil prices just under five-month highs, supported by weaker dollar - Reuters:Oil prices slipped just below five-month highs on Thursday, with support from a weak dollar .DXY and falling U.S. crude inventories undermined by bearish sentiment about fuel demand.Brent crude LCOc1 fell 7 cents to $45.10 a barrel by 0802 GMT, while U.S. crude CLc1 was down 25 cents at $41.94.The two benchmarks rose to their highest since March 6, completing a four-day rally, after the Energy Information Administration...
Tags: Travel, Energy Information Administration, Reuters, Rupert Neil Bumfrey


MIDEAST STOCKS-Major Gulf indexes rise as financial stocks gain - Reuters

MIDEAST STOCKS-Major Gulf indexes rise as financial stocks gain - Reuters:Major Gulf stock markets rose in early trade on Thursday, largely led by gains in financial shares, with many investors having returned from Eid Al-Adha holidays.Saudi Arabia’s benchmark index gained 0.5%, driven by a 1% increase in Al Rajhi Bank and a 2.4% rise in Samba Financial Group.Samba on Wednesday posted a 2% rise in quarterly net profit to 955 million riyals ($254.65 million), surviving a period marked by the coro...
Tags: Travel, Saudi Arabia, Dubai, Reuters, Aramex, Rupert Neil Bumfrey, Al Rajhi Bank, Major Gulf, Emirates NBD Bank, Samba Financial Group Samba


#AbuDhabi's Etihad Airways loses $758 million in first half - Reuters

Abu Dhabi's Etihad Airways loses $758 million in first half - Reuters:Abu Dhabi’s Etihad Airways said its core operating loss deepened to $758 million in the first half of the year as passenger traffic fell by nearly 60% due to the coronavirus pandemic.The state carrier suspended regular, scheduled passenger flights in March due to the pandemic. Those services began to resume June.Its core operating loss was up nearly 30% from $586 million a year ago as the airline carried around 3.5 million pas...
Tags: Travel, Abu Dhabi, Reuters, Etihad Airways, Rupert Neil Bumfrey


Oil prices mixed as coronavirus concerns undercut support from lower U.S. crude stocks - Reuters

Oil prices mixed as coronavirus concerns undercut support from lower U.S. crude stocks - Reuters:Oil prices were mostly flat on Thursday, as a boost from lower-than-expected U.S. crude stocks that lifted the market to five-month highs in the previous session gave way to fuel demand concerns amid rising coronavirus infections.U.S. West Texas Intermediate (WTI) crude CLc1 futures eased 3 cents, or 0.1%, to $42.16 a barrel by 0436 GMT, while Brent crude LCOc1 futures rose 9 cents or nearly 0.2% to ...
Tags: Travel, Energy Information Administration, Reuters, U S West Texas Intermediate WTI, Rupert Neil Bumfrey



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