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#Saudi shares ease, other markets gain after UK's Pfizer-BioNTech vaccine approval | Reuters

Saudi shares ease, other markets gain after UK's Pfizer-BioNTech vaccine approval | Reuters Saudi shares edged down on Wednesday, tracking lower oil, while other Gulf markets were buoyed by encouraging news in the fight against the COVID-19 pandemic as Britain became the first country in the world to approve the Pfizer-BioNTech vaccine rollout.Britain said the vaccine developed by Pfizer and partner BioNTech will be rolled out from early next week, a boost for investors worldwide.Oil prices exte...
Tags: Travel, UK, Saudi Arabia, Opec, Qatar, Britain, United States, Dubai, Pfizer, Abu Dhabi, Bahrain, Kuwait, Gulf, Reuters, Index, Saudi Aramco


Oil prices slip but traders cheer vaccine approval | Reuters

Oil prices slip but traders cheer vaccine approval | Reuters Oil prices fell early on Wednesday but later pared some of the losses on news that Britain has become the first country in the world to approve a vaccine for use and that it will be rolled out from early next week.Prices had been hit earlier by a surprise build in oil inventories in the United States and as OPEC and its allies left markets in limbo by delaying a formal meeting to decide whether to increase output in January.Brent crude...
Tags: Travel, Opec, Britain, United States, Reuters, Reuters Oil, American Petroleum Institute, Rupert Neil Bumfrey, Petroleum Exporting Countries OPEC Russia


Facebook re-brands digital coin Libra as Diem

The Libra Association, Facebook Inc’s digital coin project, will now be called the “Diem Association” as part of the social media giant’s attempt to rebrand and restructure. While Facebook had released a white-paper for Libra in June last year, the project did not take off as central banks and regulators had raised several concerns over the attempts to create the world’s first digital coin which would be backed by a basket of currencies. Stuart Levey, chief executive officer, Diem Association t...
Tags: Travel, Facebook, News, US, Bloomberg, European Central Bank, Paypal, Cryptocurrencies, Libra, Visa, Reuters, Levey, Facebook Libra, Stuart Levey, Diem Association, Libra Association Facebook Inc


Oil slides as OPEC+ delays decision on output cuts | Reuters

Oil slides as OPEC+ delays decision on output cuts | Reuters Oil prices extended losses to a second day on Tuesday after OPEC and its allies left markets in limbo by postponing a formal meeting to decide whether to lift output come January.Brent crude ended the session down 46 cents, or 1%, at $47.42 a barrel, while U.S. West Texas Intermediate settled down 79 cents, or 1.7%, at $44.55.The Organization of the Petroleum Exporting Countries, Russia and other allies, a group known as OPEC+, delayed...
Tags: Travel, Saudi Arabia, Russia, Opec, Reuters, Reuters Oil, Rupert Neil Bumfrey, Petroleum Exporting Countries Russia


HSBC increases stake in #Saudi British Bank to 31% - statement | Reuters

HSBC increases stake in Saudi British Bank to 31% - statement | Reuters HSBC, through its subsidiary HSBC Holdings B.V., has purchased shares in Saudi British Bank which will increase its shareholding in the Saudi lender to 31% from 29.2%, the bank said on Tuesday.It said the stake increase followed the participation in an accelerated book build process launched on Nov. 30 by NatWest Markets and Banco Santander. [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Hsbc, Reuters, Reuters HSBC, Rupert Neil Bumfrey, Saudi British Bank, Natwest Markets and Banco Santander, HSBC Holdings B V


Oil ticks up as OPEC, allies delay output deal meeting | Reuters

Oil ticks up as OPEC, allies delay output deal meeting | Reuters Oil prices ticked up on Tuesday, with early European trading erasing earlier losses, as all eyes were on talks between OPEC and its allies who postponed a formal meeting to decide whether to increase output from next month.Brent crude was up 31 cents at $48.19 a barrel by 0847 GMT. West Texas Intermediate was up 28 cents at $45.62.Both contracts surged around 27% in November after COVID-19 vaccine developments raised hopes of an ec...
Tags: Travel, Russia, Opec, Reuters, Reuters Oil, Rupert Neil Bumfrey, COVID


Oil prices down 1.5% as OPEC+ debates 2021 output policy | Reuters

Oil prices down 1.5% as OPEC+ debates 2021 output policy | Reuters Oil fell about 1.5% on Monday as the world’s major oil producers discussed extending deep output cuts at talks this week, but benchmark crude will end the month with a strong rally built on hopes that COVID-19 vaccines will soon be available.Brent crude for January delivery, which expires on Monday, dropped 68 cents, or 1.4%, to $47.50 a barrel by 1:24 p.m. EST (1824 GMT). The more actively traded February Brent contract was down...
Tags: Travel, Opec, Reuters, Reuters Oil, Rupert Neil Bumfrey


OPEC oil output rises for fifth month on Libyan recovery, Reuters survey shows | Reuters

OPEC oil output rises for fifth month on Libyan recovery, Reuters survey shows | Reuters OPEC oil output rose for a fifth month in November, a Reuters survey found, as increased Libyan production offset full adherence by other producers to cuts agreed in an OPEC-led supply deal.The 13-member Organization of the Petroleum Exporting Countries has pumped 25.31 million barrels per day (bpd) in November, the survey found, up 750,000 bpd from October and a further increase from the three-decade low re...
Tags: Travel, Russia, Opec, Reuters, Organization of the Petroleum Exporting Countries, Reuters OPEC, Commerzbank, Rupert Neil Bumfrey, Eugen Weinberg


MIDEAST STOCKS-Most log monthly gains on COVID-19 vaccine optimism | Nasdaq

MIDEAST STOCKS-Most log monthly gains on COVID-19 vaccine optimism | Nasdaq Saudi and Dubai shares ended higher on Monday, with most markets recording monthly gains thanks to optimism that the progress in COVID-19 vaccine development would help global economies recover at a quicker pace than initially anticipated.Financial markets worldwide have gained in most sessions after U.S. drugmakers Pfizer PFE.N and Moderna MRNA.O, and Britain's AstraZeneca AZN.L released positive trial data on their vac...
Tags: Travel, Saudi Arabia, Opec, Qatar, Britain, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Emirates NBD, Tasi, Rupert Neil Bumfrey, Pfizer PFE N, First Abu Dhabi Bank, DFMGI


Exclusive: #AbuDhabi wealth fund in talks with KKR over Italian grid deal - sources | Reuters

Exclusive: Abu Dhabi wealth fund in talks with KKR over Italian grid deal - sources | Reuters Abu Dhabi’s biggest sovereign fund is in talks with U.S. firm KKR to invest in Telecom Italia’s (TIM) last-mile network in a deal that has drawn scrutiny from Italy’s government, three sources close to the matter told Reuters.Rome typically welcomes foreign investments but demands assurances that investors will follow the country’s national interests. The government has special vetting powers to block u...
Tags: Travel, Italy, Abu Dhabi, KKR, Reuters, Tim, Telecom Italia, Reuters Abu Dhabi, Rupert Neil Bumfrey, Abu Dhabi Investment Authority Adia, Infinity Investments, Reuters Rome, FiberCop


OPEC+ to discuss extending oil cuts or gradually raising output, sources say | Reuters

OPEC+ to discuss extending oil cuts or gradually raising output, sources say | Reuters OPEC+ members will consider whether to extend existing oil cuts for three to four months or to increase output gradually from January during their two days of talks that start on Monday, OPEC+ sources told Reuters. Officials from the Organization of the Petroleum Exporting Countries, Russia and others, a group known as OPEC+, held an initial round of talks on Sunday before formal discussions began but failed t...
Tags: Travel, Saudi Arabia, Opec, Reuters, Reuters OPEC, Rupert Neil Bumfrey


#Dubai builder Arabtec says shareholders ask to reverse decision to liquidate company | Reuters

Dubai builder Arabtec says shareholders ask to reverse decision to liquidate company | Reuters Dubai builder Arabtec Holding is asking shareholders to reverse a decision made in September to proceed with a bankruptcy and liquidation filing, according to a bourse filing on Monday.Instead, the troubled builder is asking shareholders, scheduled to meet at a general assembly meeting on Monday, to approve the continuity and restructure the company, the filing said.The contracting firm said the reques...
Tags: Travel, Dubai, Reuters, Arabtec, Rupert Neil Bumfrey, Reuters Dubai, Mohammed Ali Yasin, Arabtec Holding, Al Dhabi Capital Ltd


Oil prices tumble 2% as OPEC+ members argue over 2021 policy | Reuters

Oil prices tumble 2% as OPEC+ members argue over 2021 policy | Reuters Crude oil prices tumbled on Monday, as investors waited for a decision by producer group OPEC+ whether to extend large output cuts to balance global markets, but vaccine hopes helped keep benchmarks on track to rise more than a fifth in November.January Brent crude futures, which will expire later on Monday, dropped $1.01, or 2.1%, to $47.17 a barrel by 0749 GMT. The more actively traded February Brent contract was at $47.29 ...
Tags: Travel, Opec, Reuters, Reuters Crude, Rupert Neil Bumfrey


#Saudi Pharma Climbs to Five-Year High on Covid Pact With CureVac - Bloomberg

Saudi Pharma Climbs to Five-Year High on Covid Pact With CureVac - Bloomberg Saudi Pharmaceutical Industries & Medical Appliances Corp. surged to the highest level in more than five years after signing a pact to supply CureVac NV’s coronavirus vaccine in the kingdom.The shares closed 5.5% higher in Riyadh, taking the gain for the year to 58%. The benchmark Tadawul index rose 0.2%.The non-binding memorandum of understanding with CureVac includes the possibility of extending the supply and distri...
Tags: Travel, European Union, Oman, Reuters, Riyadh, Tadawul, CureVac, Rupert Neil Bumfrey, Saudi Pharma Climbs, CureVac Bloomberg, CureVac NV, United Arab Emirates Kuwait Bahrain, Saudi Pharmaceutical


Major Gulf markets close mixed, #Dubai ends winning streak | Reuters

Major Gulf markets close mixed, Dubai ends winning streak | Reuters Major Gulf stock markets ended mixed on Sunday with Saudi Arabian shares extending gains for a sixth consecutive day, while Dubai fell after five days of rises.All major Gulf stocks registered gains in the week to Thursday, riding on a rally fuelled by optimism around COVID-19 vaccine developments.Saudi Arabia’s main index was up 0.2% as Dr. Sulaiman Al-Habib Medical Services Group surged 8.7%, its sharpest intra-day rise since ...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Abu Dhabi, Gulf, Reuters, MSCI, Moody, CureVac, Rupert Neil Bumfrey, Emaar Malls, Saudi Electricity, Major Gulf, Emirates Telecommunications Group, Emirates NBD Bank


Mideast stocks: Major Gulf stocks little changed in early trade | Reuters

Mideast stocks: Major Gulf stocks little changed in early trade | Reuters Major Gulf stock markets were steady in early Sunday trading, having gained last week on optimism about COVID-19 vaccines.Saudi Arabia’s index was up 0.3% as Al Rajhi Bank gained 0.3% and Saudi Electricity added 2.1% in its fifth daily rise in six trading days.Moody’s on Wednesday upgraded the utility company’s rating to A1, citing increased government support. The company recently signed an agreement with the government t...
Tags: Travel, Saudi Arabia, Dubai, Abu Dhabi, Reuters, Mideast, Moody, Emaar Properties, CureVac, Qatar Islamic Bank, Rupert Neil Bumfrey, Industries Qatar, Saudi Electricity, Dubai Investments, Aldar Properties, Al Rajhi Bank


#Israel's Delek Drilling files for London Stock Exchange spin-off | Reuters

Israel's Delek Drilling files for London Stock Exchange spin-off | Reuters Israel’s Delek Drilling said on Sunday it was looking to spin off most of its assets into a new company that will be listed on the London Stock Exchange.The company, a unit of conglomerate Delek Group, said in a regulatory filing in Tel Aviv that it had filed a request with the Financial Conduct Authority to list the new company on the main market in London.Delek Drilling said it would continue to hold a stake in the Isra...
Tags: Travel, London, Israel, Tel Aviv, London Stock Exchange, Egypt, Financial Conduct Authority, Leviathan, Reuters, Tamar, Rupert Neil Bumfrey, Delek Group, Delek Drilling, Reuters Israel 's Delek Drilling


Oil prices post weekly gain ahead of OPEC+ meeting | Reuters

Oil prices post weekly gain ahead of OPEC+ meeting | Reuters Oil prices were mixed on Friday but posted a fourth straight week of gains ahead of an OPEC+ meeting early next week.Brent crude January futures rose 38 cents to settle at $48.18 a barrel, while the more active February contract gained 46 cents to $48.25.U.S. West Texas Intermediate (WTI) crude futures fell 18 cents to settle at $45.53 a barrel.Brent rose 7.2% over the week, while WTI gained 8% for the week. Encouraging news on potenti...
Tags: Travel, Opec, Astrazeneca, Wti, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


Israel's Beitar Jerusalem says #AbuDhabi ruling family member looks to buy stake | Reuters

Israel's Beitar Jerusalem says Abu Dhabi ruling family member looks to buy stake | Reuters A member of Abu Dhabi’s ruling family is looking to buy a roughly 50% stake of Israeli Premier League soccer club Beitar Jerusalem, the club’s owner said on Friday.Beitar said in September it was negotiating a possible investment by a group in the United Arab Emirates (UAE) in a statement that followed the announcement that Israel and the UAE had agreed to normalize ties.Beitar owner Moshe Hogeg said in a ...
Tags: Travel, Israel, Abu Dhabi, Uae, Beitar Jerusalem, Reuters, United Arab Emirates UAE, Beitar, Al Nahyan, Rupert Neil Bumfrey, Abudhabi, Moshe Hogeg, Israeli Premier League, Hamad Bin Khalifa Al Nahyan


Oil drops as supply concerns, vaccine doubts sap rally | Reuters

Oil drops as supply concerns, vaccine doubts sap rally | Reuters Oil prices were lower on Friday in quiet trade due to the U.S. Thanksgiving holiday, dropping amid concerns about oversupply and doubts about a vaccine to end the coronavirus pandemic.Brent crude was down by 31 cents, or 0.7%, at $47.49 by 0758 GMT, having fallen 1.7% overnight. West Texas Intermediate was down by $1.02, or 2.2%, at $44.69. U.S. crude prices did not settle on Thursday due to the holiday.Both benchmarks have risen a...
Tags: Travel, Astrazeneca, Reuters, Reuters Oil, Rupert Neil Bumfrey, OANDA, Jeffrey Halley


Oil rally stalls on signs of more supply, demand doubts | Reuters

Oil rally stalls on signs of more supply, demand doubts | Reuters Oil slipped from seven-month highs on Thursday as signs of growing supplies helped to halt a rally driven by optimism that COVID-19 vaccines will revive fuel demand. Brent futures had risen to nearly $50 a barrel this week after three major pharmaceutical companies announced progress on vaccines that could start to be rolled out before the end of the year.But Brent was down 74 cents, or 1.5%, at $47.87 a barrel by 1650 GMT on Thur...
Tags: Travel, Reuters, Reuters Oil, Avtar Sandu, Phillip Futures, Rupert Neil Bumfrey


Delta launches the first quarantine-free travel from the US to Europe, thanks to a new testing program that reduces infection chances on a flight to '1 in a million'

Noam Galai/Getty Images Delta is trialing a new testing program that will allow passengers to travel to Europe without quarantine. The airline is piloting the scheme on flights between Rome and Atlanta from December alongside Italian airline Alitalia. Passengers will have to take two COVID-19 tests before boarding the plane in the US, and another one upon arrival in Italy. If the Delta flights are 60% full and the tests are combined with other protective measures, the risk of COVID-19 inf...
Tags: Travel, Transportation, Europe, White House, US, Trends, Atlanta, Georgia, Eu, Rome, Delta Airlines, Tourism, Italy, Delta, Transport, Aviation


South Korea’s information watchdog fines Facebook for sharing data without consent: Reports

South Korea’s information watchdog on Wednesday fined Facebook Inc 6.7 billion won ($6.1 million) for sharing the personal information of South Koreans, without their consent, to other companies, reported Reuters and Yonhap News Agency.  The Personal Information Protection Commission (PIPC) said Facebook had shared the personal data of 3.3 million users, out of its 18 million users in the country, violating its personal information law. Specifically, the violation at play here is when users l...
Tags: Travel, Facebook, South Korea, News, Commission, Personal Data, Data Protection, Reuters, Facebook Inc, Facebook Ireland Ltd, Korea Communications Commission South Korea, PIPC


#UAE's flydubai starts Dubai-Tel Aviv services after detente | Reuters

UAE's flydubai starts Dubai-Tel Aviv services after detente | Reuters United Arab Emirates airline flydubai started direct passenger flights to Israel on Thursday after the two countries normalised ties in a Washington-brokered deal.Israel and the UAE agreed in August to establish diplomatic relations, paving the way for economic cooperation. Bahrain and Sudan have also agreed to forge formal ties with Israel in deals brokered by the Trump administration and promoted as a strategic Middle East s...
Tags: Travel, Washington, Israel, Tel Aviv, Middle East, Dubai, Sudan, Bahrain, Uae, Trump, Reuters, Reuters United Arab Emirates, Rupert Neil Bumfrey, Dubai Tel Aviv, Iran Dubai


MIDEAST DEBT-Gulf bonds likely to set new record in 2021 amid budget squeeze | Reuters

MIDEAST DEBT-Gulf bonds likely to set new record in 2021 amid budget squeeze | Reuters International debt sales from the six-member Gulf Cooperation Council are likely to notch another record year in 2021 as governments need to fill wider deficits and corporates look to grab money on the cheap amid low rates.The oil-rich region saw a second consecutive year of record international bonds, topping $100 billion, as issuers’ finances were battered by the COVID-19 pandemic along with low oil prices, ...
Tags: Travel, Middle East, Gulf, North Africa, Reuters, Gulf Cooperation Council, Reuters International, Rupert Neil Bumfrey, Khalid Rashid, Deutsche Bank S P Global Ratings


France to levy digital service tax on tech giants: Report

The French government is planning to re-introduce a digital service tax (DST) on big tech companies from this year onward, reported Reuters. Though the policy to impose a 3% tax on revenue from digital services was introduced by the French government last year, tax collections were suspended as the Organization for Economic Cooperation and Development (OECD) had begun negotiating an overhaul of the global tax system. However, in a conversation with journalists on Wednesday, French Finance Minist...
Tags: Travel, Amazon, Facebook, Europe, News, France, India, US, Bloomberg, European Union, Czech Republic, United States, United Kingdom, WTO, OECD, Financial Times


Oil rallies past eight-month high on U.S. crude inventory draw, vaccine hopes | Reuters

Oil rallies past eight-month high on U.S. crude inventory draw, vaccine hopes | Reuters Oil prices climbed nearly 2% to their highest in more than eight months on Wednesday, as data showing a surprise drop in weekly U.S. crude inventories extended a rally driven by hopes that a COVID-19 vaccine will boost fuel demand.Brent crude rose 75 cents, or 1.6%, to settle at $48.61 a barrel, its highest since early March.U.S. West Texas Intermediate crude also closed at its highest since early March, risi...
Tags: Travel, Reuters, Reuters Oil, Cushing Oklahoma, Rupert Neil Bumfrey


Israeli telecoms firm Partner eyes more cost cuts after third quarter loss | Reuters

Israeli telecoms firm Partner eyes more cost cuts after third quarter loss | Reuters Israeli telecoms group Partner Communications moved to a net loss in the third quarter, citing a loss of roaming revenue due to a steep decline in tourists caused by the coronavirus pandemic.Partner, Israel’s second-largest mobile operator, said on Wednesday it lost 5 million shekels ($1.5 million) in the July-September period, compared with a profit of 7 million shekels a year earlier.Revenue dropped 3% to 800 ...
Tags: Travel, Israel, Partner, Reuters, Partner Communications, Rupert Neil Bumfrey, Isaac Benbenisti


#UAE's ADGM to sign MOU with Israel's securities authority on fintech | Reuters

UAE's ADGM to sign MOU with Israel's securities authority on fintech | Reuters Abu Dhabi’s financial centre, Abu Dhabi Global Market (ADGM), will sign a memorandum of understanding with Israel Securities Authority and Israel’s biggest lender, Bank Hapoalim, to support financial technology, ADGM chairman Ahmed Ali al-Sayegh said on Wednesday.After the United Arab Emirates (UAE) and Israel agreed to normalise relations in August, the two countries have signed a host of accords to boost economic an...
Tags: Travel, Israel, Uae, Reuters, United Arab Emirates UAE, Reuters Abu Dhabi, Rupert Neil Bumfrey, ADGM, Bank Hapoalim, Abu Dhabi Global Market ADGM, Central Bank of the UAE, Israel Securities Authority, Ahmed Ali Al Sayegh, Abdulhamid Saeed Alahmadi


Mubadala seeks Israeli partners on technology investment | Reuters

Mubadala seeks Israeli partners on technology investment | Reuters Abu Dhabi state investor Mubadala Investment Co plans to identify potential fund partners in Israel and find high-growth companies to co-invest in, the head of its ventures unit said on Wednesday.“There will be interesting opportunities with joint funds or joint ventures, but we are still early on in evaluating this,” Ibrahim Ajami told a financial technology conference in Abu Dhabi.He said Mubadala has co-invested with Israeli i...
Tags: Travel, Europe, China, India, Israel, United States, Middle East, Silicon Valley, Abu Dhabi, Uae, Reuters, United Arab Emirates UAE, Reuters Abu Dhabi, Rupert Neil Bumfrey, Mubadala, Mubadala Investment Co



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