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German Bank of #Qatar's Al-Thani Family Working on Takeovers - Bloomberg

German Bank of Qatar's Al-Thani Family Working on Takeovers - Bloomberg:The German bank of Qatar’s Al-Thani family plans to double its assets under management over the next five years. Its strategy: acquisitions and hirings.Merck Finck Privatbankiers AG is conducting "concrete" talks on acquisitions, Chief Executive Officer Matthias Schellenberg said in an interview. "With some takeover targets, we are already beyond the screening stage. You should expect to hear more from us in the coming month...
Tags: Travel, Qatar, UBS Group AG, Schellenberg, Al Thani, Rupert Neil Bumfrey, German Bank of Qatar, Takeovers Bloomberg, Merck Finck Privatbankiers AG, Matthias Schellenberg


Data show US sanctions hitting #Iran’s oil exports hard | Financial Times

Data show US sanctions hitting Iran’s oil exports hard | Financial Times:Data on Iran’s crude exports bear the scars of US sanctions on the oil producer, with December figures showing a fall to just 1.1m barrels a day — almost 60 per cent down from levels in the spring.The volume of Iranian exports was one of the key focuses for oil traders in 2018, as the US moved to reimpose punishing economic measures on the Opec member. President Donald Trump reversed a deal which had sought to curb Iran’s n...
Tags: Travel, US, Opec, Iran, Donald Trump, Rupert Neil Bumfrey


#Saudi Plot Set to Twist in Stock Market's Tale of Two Halves - Bloomberg

Saudi Plot Set to Twist in Stock Market's Tale of Two Halves - Bloomberg:For Saudi equities, 2019 may be a story of two halves.The kingdom’s stocks are set to rally in coming months as billions of dollars gush into the market on its inclusion in benchmarks for developing-nations. But that may give way to selling before Ramadan, the month of fasting which will begin in May, as concerns over reforms and oil move back to the forefront, according to Nomura Asset Management.It will be “a positive fir...
Tags: Travel, Middle East, Tokyo, Rupert Neil Bumfrey, Tarek Fadlallah, Nomura Asset Management, Nomura Asset


Property Slump to Weigh on #UAE Banks as Bad Loans Set to Rise - Bloomberg

Property Slump to Weigh on U.A.E. Banks as Bad Loans Set to Rise - Bloomberg:Lenders in the United Arab Emirates will come under pressure this year as a property and retail slump take its toll.One of the country’s smallest banks is being bailed out, problem loans are expected to rise this year and lenders are exploring mergers to stay competitive. Slow property sales, higher interest rates and a rise in lending amid improved economic growth could mean provisions jump as much as a quarter, accord...
Tags: Travel, Bloomberg, United Arab Emirates, Dubai, EFG Hermes Holding SAE, Rupert Neil Bumfrey, Shabbir Malik, UAE Banks


GCC Equities Review: #Saudi market ends higher in a turbulent year | ZAWYA MENA Edition

GCC Equities Review: Saudi market ends higher in a turbulent year | ZAWYA MENA Edition:Saudi Arabia's stock market put in a creditable performance in 2018, finishing the year 8.4 percent higher, which is a considerable outperformance of both the MSCI World market (down 10.4 percent) and MSCI Emerging Market (down 16.6 percent) indices.Yet the total value of stocks traded in the market during the year actually declined by 16.2 percent to $185.6 billion, according to data from KAMCO Research, and ...
Tags: Travel, Saudi Arabia, Istanbul, MSCI, Rupert Neil Bumfrey, KAMCO Research, Jamal Khashoggi, GCC Equities Review


GCC Equities Review: #Qatar the star but can momentum be sustained? | ZAWYA MENA Edition

GCC Equities Review: Qatar the star but can momentum be sustained? | ZAWYA MENA Edition:There were several factors behind Qatar's outperformance of other regional markets last year, but the huge inflow of capital from foreign buyers - around $2.3 billion, according to Dubai's Al Mal Capital, more than twice the amount that flowed into Saudi Arabia - clearly played a key role.Some of these inflows were the result of technical factors, Akber Khan, senior director of asset management at Doha-based ...
Tags: Travel, Saudi Arabia, Qatar, United Arab Emirates, Dubai, Khan, Doha, Rupert Neil Bumfrey, Bahrain Egypt Saudi Arabia, Zawya, Al Mal Capital, Al Rayan Investment, Akber Khan, GCC Equities Review


GCC Equities Review: Valuation gains made in 2018 but trading volumes remain thin | ZAWYA MENA Edition

GCC Equities Review: Valuation gains made in 2018 but trading volumes remain thin | ZAWYA MENA Edition:Gulf markets did not escape some of the turmoil experienced across the emerging market equity space last year, but there were specific factors driving investor sentiment within each country, leading to a huge divergence in performance.For instance, the Qatar Exchange not only posted the best performance in the region, but was one of the best performing stock markets in the world in 2018, outran...
Tags: Travel, Saudi Arabia, Qatar, Ukraine, GCC, Macedonia, Rupert Neil Bumfrey, KAMCO Research, Qatar Exchange, GCC Equities Review, Qatar Abu Dhabi Kuwait, MSCI GCC


GCC Equities Review: #AbuDhabi ascends despite dramatic #Dubai downfall | ZAWYA MENA Edition

GCC Equities Review: Abu Dhabi ascends despite dramatic Dubai downfall | ZAWYA MENA Edition:Investing in two stock markets in the same country would not usually be considered a way of diversifying assets, but investors who had stakes in both of the United Arab Emirates’ main equities exchanges last year will have noted that that there was little in the way of correlation between them.The Abu Dhabi market index finished the year 10.7 percent higher but, as the head of research at Menacorp, Issam ...
Tags: Travel, United Arab Emirates, Dubai, Abu Dhabi, Etisalat, Rupert Neil Bumfrey, Abudhabi, Abu Dhabi National Energy Co TAQA, First Abu Dhabi Bank, Watania, GCC Equities Review, Menacorp Issam Kassabieh


Oil firm as supply cuts point to tighter market despite weakening economy | Reuters

Oil firm as supply cuts point to tighter market despite weakening economy | Reuters:Oil prices firmed on Wednesday after climbing about 3 percent in the previous session as expectations that OPEC-led supply cuts will tighten markets despite signs of a global economic slowdown.Brent crude oil futures LCOc1 were at $60.83 per barrel at 0748 GMT, 19 cents, or 0.3 percent above their last close.West Texas Intermediate (WTI) crude futures CLc1 were up 10 cents, or 0.2 percent, at $52.21 a barrel. ...
Tags: Travel, Opec, Reuters, Rupert Neil Bumfrey


Loan growth, higher margins boost Emirates NBD Q4 net profit | Reuters

Loan growth, higher margins boost Emirates NBD Q4 net profit | Reuters:Emirates NBD, Dubai’s largest bank, on Wednesday reported a 10 percent rise in fourth-quarter net profit as loan growth and improved margins offset lower income from investment securities and higher expenses.The bank, the first United Arab Emirates lender to report quarterly results, made a net profit of 2.39 billion dirhams ($650.7 million) in the three months ended Dec. 31, 2018, compared with 2.18 billion dirhams in the ye...
Tags: Travel, United Arab Emirates, Reuters, EFG Hermes, Rupert Neil Bumfrey, Emirates NBD Dubai, SiCo, Emirates NBD Q4


MIDEAST STOCKS-Banks lift #Saudi, Emirates NBD aids #Dubai | Reuters

MIDEAST STOCKS-Banks lift Saudi, Emirates NBD aids Dubai | Reuters:Saudi Arabia’s stock market rose on Wednesday, boosted by its banks and petrochemical stocks, while Dubai was lifted by a rise in its largest lender Emirates NBD after it reported strong fourth-quarter earnings.Saudi Arabia’s index rose 0.9 percent with top petrochemical producer Saudi Basic Industries adding 1.2 percent and Al Rajhi Bank increasing 0.5 percent.The Saudi market, which will become part of the MSCI emerging market ...
Tags: Travel, Saudi Arabia, Dubai, Reuters, Emirates NBD, MSCI, Rupert Neil Bumfrey, Saudi Basic Industries, Al Rajhi Bank, Saudi Emirates NBD


Omani lenders report higher full-year profit as operating income climbs  - The National

Omani lenders report higher full-year profit as operating income climbs  - The National:Bank Muscat, one of Oman's top lenders by assets, on Tuesday reported a marginal increase in full-year net profit as income from conventional and Islamic finance rose and impairment charges for bad loans fell.Net income for 12-months ending December climbed to 179.63 million rials (Dh1.72 billion), a 1.6 per cent year-on-year rise, the lender said in a statement to the Oman bourse, where its shares are traded...
Tags: Travel, Oman, Bank Muscat, Rupert Neil Bumfrey


#Dubai stocks sees broad-based aggressive selling

Dubai stocks sees broad-based aggressive selling:Dubai stocks witnessed broad-based aggressive selling on Tuesday ahead of the fourth quarter result season, triggering a near 1.5 per cent fall in the Dubai index.The selling started with Damac Properties and then engulfed other property stocks such as Emaar Properties. The Dubai Financial Market General index (DFMGI) closed 1.45 per cent lower at 2,490.55. This fall dashed hopes of traders, who had been nursing losses, thought the recent recovery...
Tags: Travel, Dubai, DAMAC Properties, Rupert Neil Bumfrey, DFM, First Abu Dhabi Bank Securities


Oil prices expected at around $65-$70 through 2023

Oil prices expected at around $65-$70 through 2023:Oil prices are expected to oscillate close to current levels well into the next decade, averaging around $65-$70 per barrel through 2023, according to an annual survey of energy professionals conducted by Reuters.Despite the recent slump in oil prices, forecasts have edged down by less than $5 per barrel compared with the last annual survey conducted at the start of 2018, and have changed little over the last three years.Long-term expectations f...
Tags: Travel, Reuters, Rupert Neil Bumfrey


Oil prices will help shape sukuk market performance in 2019: S&P - The Peninsula Qatar

Oil prices will help shape sukuk market performance in 2019: S&P - The Peninsula Qatar:S&P Global Ratings anticipates a total global sukuk issuance of $105bn-$115bn this year. The rating agency expects higher demand for funding in most GCC countries, given the reduced oil price assumptions compared with last year’s outturn of $71 for Brent . Tightening liquidity conditions worldwide, high geopolitical risks in the Middle East, and challenges inherent to sukuk issuance will likely dampen sukuk ma...
Tags: Travel, Indonesia, Saudi Arabia, Qatar, Turkey, Malaysia, Middle East, Rupert Neil Bumfrey, Peninsula Qatar, Central Bank of Kuwait, UAE Activity


Digital banking — a key enabler for #Qatar’s e-commerce market

Digital banking — a key enabler for Qatar’s e-commerce market:According to Fitch Solutions, “Qatar offers an e-commerce market worth almost $1.5bn in 2019. The Middle East and North Africa (Mena) region is projected to record e-commerce sales growth of 21.4% to reach $28.5bn in 2019. A common feature across the Gulf is a youthful demographic profile and high income levels. A high proportion of young adults (20-39 years old), making up more than a third of the total population. This age bracket i...
Tags: Travel, Qatar, Middle East, Gulf, North Africa MENA, Rupert Neil Bumfrey, GSMA Intelligence, Fitch Solutions


Saudis Plan To Link #UAE, #Kuwait, #Oman In Regional Gas Grid | OilPrice.com

Saudis Plan To Link UAE, Kuwait, Oman In Regional Gas Grid | OilPrice.com:Saudi Arabia is discussing the possibility to have one interconnected natural gas grid in the region that would exchange gas and export the Kingdom’s gas to the United Arab Emirates (UAE), Kuwait, and Oman, Saudi Arabia’s Energy Minister Khalid al-Falih said on Tuesday.“I am talking to my colleagues in Oman, Kuwait, UAE, about extending a gas grid in the region and we hope to exchange gas and we also have excess of gas whi...
Tags: Travel, Saudi Arabia, Kingdom, Abu Dhabi, Kuwait, Khalid al Falih, Rupert Neil Bumfrey, Falih, United Arab Emirates UAE Kuwait, Oman Saudi Arabia, Oman Kuwait UAE, World Future Energy


U.S.- #Qatar Energy Partnership Has Russia On Edge | OilPrice.com

U.S.-Qatar Energy Partnership Has Russia On Edge | OilPrice.com:It’s been well noted on my OilPrice.com posts over the past year that President Donald Trump isn’t happy with where and even how much of Europe procures its natural gas. It’s still been less than a year when Trump shocked media both at home and abroad with his tongue lashing of EU members and more poignantly Germany over its continued reliance on geopolitically charged Russian natural gas.As a refresher, in early July Trump lashed o...
Tags: Travel, Europe, Germany, Russia, Berlin, Eu, Nato, Moscow, Brussels, Donald Trump, Trump, Rupert Neil Bumfrey, Nordstream, U S Qatar Energy Partnership


Permian Shale Oil Boom Holds Good News and Bad News for OPEC - Bloomberg

Permian Shale Oil Boom Holds Good News and Bad News for OPEC - Bloomberg:The year has barely begun but it’s already shaping up nicely for OPEC, with crude rebounding sharply after the worst fourth-quarter performance since 2014.A new production cuts deal with Russia and thawing U.S.-China trade relations have given the market a boost. But for the Organization of Petroleum Exporting Countries, good news often comes hand-in-hand with bad news. For that, look no further than the Permian basin.The b...
Tags: Travel, China, Russia, Opec, Energy Information Administration, Organization of Petroleum Exporting Countries, Rupert Neil Bumfrey, OPEC Bloomberg, United Arab Emirates OPEC


Talks Underway to Build Gas Pipeline to Egypt, Israel Says - Bloomberg

Talks Underway to Build Gas Pipeline to Egypt, Israel Says - Bloomberg:Talks are in progress to build an underwater natural gas pipeline between Israel and Egypt, part of efforts to transform the eastern Mediterranean into an energy export hub on Europe’s doorstep, Israeli Energy Minister Yuval Steinitz said. Israeli gas stocks rose.Construction could begin as early as next year on the pipe to transport gas from Israel’s offshore Leviathan and Tamar fields to Egypt’s existing liquefied natural g...
Tags: Travel, Europe, Israel, Bloomberg, Egypt, Leviathan, Mediterranean, Tamar, Yuval Steinitz, Steinitz, Egypt Israel, Rupert Neil Bumfrey


Nasdaq #Dubai expands futures market, launches trading on MSCI #UAE index | ZAWYA MENA Edition

Nasdaq Dubai expands futures market, launches trading on MSCI UAE index | ZAWYA MENA Edition:Nasdaq Dubai announced the launch of futures trading on the MSCI UAE equity index on Tuesday, in its latest expansion of the futures market.In a press statement, the exchange explained that the contracts are designed to appeal to international and regional investors seeking exposure to leading UAE companies.Robert Ansari, Executive Director - Head of the Middle East of MSCI, rang the market-opening bell ...
Tags: Travel, Middle East, Uae, MSCI, Rupert Neil Bumfrey, Nasdaq Dubai, First Abu Dhabi Bank, Robert Ansari, MSCI UAE


First Abu Dhabi Bank plans to raise $750mln in sukuk | ZAWYA MENA Edition

First Abu Dhabi Bank plans to raise $750mln in sukuk | ZAWYA MENA Edition:First Abu Dhabi Bank (FAB), the largest lender in the United Arab Emirates, is expected to raise $750 million in Islamic bonds, according to a document issued by one of the banks leading the deal.The five-year sukuk offer buyers 130 basis points over mid-swaps, 20 basis points below the indicative price FAB proposed when it started marketing the notes earlier on Tuesday.FAB, rated Aa3 by Moody's and AA-(minus) by S&P and F...
Tags: Travel, United Arab Emirates, Gulf, Moody, Fitch, Rupert Neil Bumfrey, First Abu Dhabi Bank


MIDEAST STOCKS-Banks buoy #Saudi market, DAMAC drags down Dubai | Reuters

MIDEAST STOCKS-Banks buoy Saudi market, DAMAC drags down Dubai | Reuters:Saudi Arabia's stock market rose on Tuesday, as rebounding oil prices lifted all its banks, while the Dubai index was pulled down by a plunge in shares of DAMAC Properties.Saudi Arabia's index gained 0.9 percent to trade at a near six-month high, with Al Rajhi Bank adding 1.3 percent and the biggest lender National Commercial Bank climbing 1.4 percent.Riyad Bank rose 1.6 percent. The lender has picked Goldman Sachs to advis...
Tags: Travel, Saudi Arabia, Dubai, Goldman Sachs, Reuters, Riyad Bank, Rupert Neil Bumfrey, National Commercial Bank, Al Rajhi Bank, National Commercial Bank Reuters, DAMAC Properties Saudi Arabia


#AbuDhabi's Masdar to buy wind farm stakes from John Laing Group | Reuters

Abu Dhabi's Masdar to buy wind farm stakes from John Laing Group | Reuters:Abu Dhabi Future Energy Company (Masdar) said on Tuesday it was acquiring John Laing Group’s stakes in two wind farms in the United States, its first North American renewable energy investment.Masdar said it was buying stakes in the Rocksprings wind farm in Texas and the Sterling wind farm in New Mexico.The deal is expected to close in the first half of 2019, Masdar said. [Author: [email protected] (Rupert Neil Bumfr...
Tags: Travel, Texas, United States, New Mexico, Abu Dhabi, Masdar, Reuters, Rupert Neil Bumfrey, Rocksprings, Abu Dhabi Future Energy Company Masdar, John Laing Group


QNB lifts quarterly profit on lending growth as #Qatar weathers blockade | Reuters

QNB lifts quarterly profit on lending growth as Qatar weathers blockade | Reuters:Qatar National Bank (QNB) reported an increase in fourth-quarter net profit on Tuesday, benefiting from strong lending growth as Qatar has pushed ahead with spending on the 2022 soccer World Cup and other infrastructure.The largest bank by assets in the Middle East and Africa reported a net profit of 3 billion riyals ($800 million) in the three months to the end of the year, compared with 2.88 billion riyals in the...
Tags: Travel, Africa, Qatar, Middle East, Reuters, QNB, Rupert Neil Bumfrey, Qatar National Bank QNB


#Qatar Airways CEO: not interested in Jet Airways as backed by 'enemy' state | Reuters

Qatar Airways CEO: not interested in Jet Airways as backed by 'enemy' state | Reuters:Qatar Airways will not buy a stake in Jet Airways (JET.NS) as a substantial portion of the debt-laden Indian carrier is held by Etihad Airways, whose owner Abu Dhabi is an “enemy” of Qatar, its CEO Akbar al-Baker said on Tuesday.Abu Dhabi is part of the United Arab Emirates that cut ties with Qatar in 2017 over accusations of supporting terrorism. Doha denies the charges. The UAE, together with Saudi Arabia, Eg...
Tags: Travel, Qatar, United Arab Emirates, Abu Dhabi, Mumbai, Bahrain, Etihad, Doha, Uae, Jet Airways, Reuters, Qatar Airways, Etihad Airways, Saudi Arabia Egypt, Akbar Al Baker, Rupert Neil Bumfrey


Pompeo Trip Fails to Ease Questions Over U.S. Goals in Mideast - Bloomberg

Pompeo Trip Fails to Ease Questions Over U.S. Goals in Mideast - Bloomberg:Secretary of State Michael Pompeo arrived in the Middle East a week ago on a mission to prove the Trump administration can be a reliable partner in tackling the region’s thorniest problems. He returns having failed to stifle doubts that have dogged the U.S. for years.With stops in eight countries in eight days, Pompeo sought to hammer home how different President Donald Trump’s approach is from that of his predecessor Bar...
Tags: Travel, Barack Obama, Qatar, Iran, Syria, Middle East, Donald Trump, Gulf, Trump, Pompeo, Rupert Neil Bumfrey, Michael Pompeo, Jamal Khashoggi, Mideast Bloomberg


#AbuDhabi's National Energy Company investments at $30bln in 2018 | ZAWYA MENA Edition

Abu Dhabi's National Energy Company investments at $30bln in 2018 | ZAWYA MENA Edition:Abu Dhabi's National Energy Company (TAQA) said its total investments had reached $30 billion held across 11 countries by the end of 2018, Emirates state news agency (WAM) reported on Monday.The company said it had coped with declining oil prices by reducing expenditures in 2018 by $750 million, WAM reported. It said it was currently considering development of a wind farm project in Morocco with a capacity of ...
Tags: Travel, Wam, Morocco, Rupert Neil Bumfrey, AbuDhabi s National Energy Company, Abu Dhabi s National Energy Company, Abu Dhabi s National Energy Company TAQA


MIDEAST STOCKS-Oil boosts #Saudi, banks weigh on Dubai | Reuters

MIDEAST STOCKS-Oil boosts Saudi, banks weigh on Dubai | Reuters:Saudi Arabia’s stock market rose in early trading on Tuesday, as rebounding oil prices lifted its banks, while real estate and banks pulled down the Dubai index for the third straight session.Saudi Arabia’s index gained 0.7 percent with Al Rajhi Bank adding 1.6 percent and its biggest lender National Commercial Bank increasing 1.6 percent.Riyad Bank has chosen Goldman Sachs to advise on its merger talks with National Commercial Bank...
Tags: Travel, Saudi Arabia, Dubai, Goldman Sachs, Reuters, Riyad Bank, Rupert Neil Bumfrey, National Commercial Bank, Al Rajhi Bank, National Commercial Bank Reuters


Banking results to set tone for #UAE stocks

Banking results to set tone for UAE stocks:Traders on UAE bourses waiting for a trigger has been selling at every recovery even as they eye the fourth results from banks.The Dubai Financial Market general index closed 0.41 per cent lower at 2,527.28. Traders on the UAE bourses have been stuck with loss-making positions hoping to see a recovery to at least see a break-even. They have been eyeing fourth quarter to December results from Emirates NBD, Abu Dhabi Commercial Bank among others which are...
Tags: Travel, Uae, Emirates NBD, Dubai Financial Market, Rupert Neil Bumfrey, Dubai Islamic Bank, Emirates NBD Abu Dhabi Commercial Bank



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