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MIDEAST STOCKS Emaar lifts #Dubai; Egypt declines on banks | Reuters

MIDEAST STOCKS Emaar lifts Dubai; Egypt declines on banks | Reuters Dubai's stock market closed higher on Monday after blue-chip developer Emaar Properties reported strong property sales, while the Egypt index was weighed down by a drop in its biggest lender Commercial International Bank.The main share index in Dubai (.DFMGI) rose 0.7%, boosted by a 1.5% rise in Emaar Properties (EMAR.DU) after the company posted a more than three-fold jump in property sales for the first five months of 202...
Tags: Travel, Saudi Arabia, Russia, Qatar, Egypt, Dubai, Moscow, Abu Dhabi, Reuters, Emaar Properties, QNB, Emaar, Tasi, Rupert Neil Bumfrey, Industries Qatar, Commercial International Bank


Big Oil’s political clout wanes as governments embrace green energy | Financial Times

Big Oil’s political clout wanes as governments embrace green energy | Financial Times The handshake between then UK prime minister Tony Blair and Muammer Gaddafi in the desert in 2007 was not just the moment the Libyan leader cemented ties with an old foe. It was also a stark symbol of the role “Big Oil” played in foreign policy.  BP sealed a significant exploration deal on the same trip, which capped its efforts to nudge the UK government to re-establish ties with the late North A...
Tags: Travel, Europe, UK, Obama, Russia, US, Joe Biden, Middle East, Tony Blair, Bp, Financial Times, Big Oil, Rupert Neil Bumfrey, Nordstream, Muammer Gaddafi, Greg Priddy


World’s Top Oil Trader Vitol Sees OPEC+ Controlling Crude Market - Bloomberg

World’s Top Oil Trader Vitol Sees OPEC+ Controlling Crude Market - Bloomberg OPEC+ appears in control of crude prices as U.S. production is lagging pre-pandemic levels, according to a senior executive at the world’s biggest independent oil trader, Vitol Group.The decline in U.S. drilling and output leaves little competition to efforts by the producers’ group to manage markets, Mike Muller, Vitol’s head of Asia, said during an online conference on Sunday. Brent crude closed above $70 a barrel l...
Tags: Travel, Asia, Saudi Arabia, China, Russia, Opec, Iran, Organization of Petroleum Exporting Countries, Müller, Vitol Group, Rupert Neil Bumfrey, Gulf Intelligence, Mike Muller Vitol, Top Oil Trader Vitol, OPEC Controlling Crude Market Bloomberg, OPEC Controlling Crude Market Bloomberg OPEC


MIDEAST STOCKS Most major Gulf stock markets gain; #Qatar index eases | Reuters

MIDEAST STOCKS Most major Gulf stock markets gain; Qatar index eases | Reuters Most major stock markets in the Gulf rose in early trade on Sunday supported mostly by banking stocks, while Qatar bucked the trend to trade lower.In Dubai, the main share index (.DFMGI) was up 0.6%, boosted by a 1.2% rise in Islamic lender Dubai Islamic Bank (DISB.DU) and a 0.7% increase in its largest bank Emirates NBD (ENBD.DU).Deyaar Development (DEYR.DU) also gained 1% after its board approved a settlement offe...
Tags: Travel, Russia, Qatar, Dubai, Moscow, Abu Dhabi, Gulf, Reuters, QNB, Tasi, Rupert Neil Bumfrey, Industries Qatar, Saudi Telecom, Abu Dhabi Commercial Bank ADCB, Al Rajhi Bank, Dubai Islamic Bank DISB DU


Abdulaziz bin Salman, the prince in charge of #Saudi oil | Financial Times

Abdulaziz bin Salman, the prince in charge of Saudi oil | Financial Times © Joe Cummings Prince Abdulaziz bin Salman of Saudi Arabia spent most of his adult life as energy-minister-in-waiting. But just six days after becoming the first royal to take on the role, the kingdom’s oil production was cut in half by a series of drone and missile attacks that set the world’s largest crude processing facility ablaze.  The attack on Abqaiq in September 2019, which Riyadh and Was...
Tags: Travel, London, Washington, Saudi Arabia, Russia, Iran, Donald Trump, Financial Times, Riyadh, Saudi Aramco, Mohammed bin Salman, Salman, Abdulaziz, Abqaiq, Rupert Neil Bumfrey, Abdulaziz bin Salman


QNB Group signs deal with Moscow asset management firm | Reuters

QNB Group signs deal with Moscow asset management firm | Reuters QNB Group (QNBK.QA) said on Friday it has signed an agreement with Moscow-based asset manager VTB Capital Investments, to launch funds to attract foreign capital into Russia and Qatar, and build offerings for international investors.The Doha, Qatar-based financial institution, the largest in the Middle East and Africa, said the memorandum of understanding will also help manage and carry out advisory activities in debt, equity and...
Tags: Travel, Russia, Africa, Qatar, Middle East, Moscow, Reuters, Doha Qatar, Rupert Neil Bumfrey, VTB Capital, QNB Group, Reuters QNB Group QNBK QA, VTB Capital Investments


Petrostates See Dire Consequences If World Rejects Oil Too Fast - Bloomberg

Petrostates See Dire Consequences If World Rejects Oil Too Fast - Bloomberg The world’s largest petrostates rejected calls for a rapid shift away from oil and gas, warning that starving the industry of investment would harm the global economy.If the world were to follow the International Energy Agency’s controversial road map, which said investment in new fields would have to stop immediately to achieve net-zero carbon emissions by 2050, “the price for oil will go to, what, $200? Gas prices wi...
Tags: Travel, Saudi Arabia, Russia, Qatar, Bloomberg, IEA, International Energy Agency, Novak, Alexander Novak, Rupert Neil Bumfrey, St Petersburg International Economic Forum, Saad Sherida Al Kaabi, Abdulaziz bin Salman, Al Kaabi, World Rejects Oil Too Fast Bloomberg


Premature to talk about oil market overheating, #Saudi minister says | Reuters

Premature to talk about oil market overheating, Saudi minister says | Reuters It would be premature to talk about potential overheating in the global oil market before seeing higher demand, Russia’s RIA news agency quoted Saudi Arabian energy minister Abdulaziz bin Salman as saying on Thursday.“There will always be a good amount of supply to meet demand, but we’ll have to see demand before you see supply,” he said when asked about the overheating risk at the St Petersburg economic forum in Rus...
Tags: Travel, Russia, St Petersburg, Reuters, RIA, Rupert Neil Bumfrey, Abdulaziz bin Salman


LNG trade rises to record in 2020 but growth slowed by COVID-19 -IGU | Reuters

LNG trade rises to record in 2020 but growth slowed by COVID-19 -IGU | Reuters Global liquefied natural gas (LNG) trade volumes rose to a record last year led by Asia, though growth was marginal as demand was slammed by coronavirus-induced restrictions, according to a report by the International Gas Union (IGU).Overall LNG trade increased to 356.1 million tonnes last year, up by 1.4 million tonnes or about 0.4% from 2019, mostly driven by increased exports from the United States and Australia,...
Tags: Travel, Asia, South Korea, Europe, Australia, Mexico, China, Russia, India, Qatar, United States, Myanmar, Norway, Nicaragua, Reuters, Reuters Global


Oil Market: OPEC+ Expected to Stick with July Output Boost - Bloomberg

Oil Market: OPEC+ Expected to Stick with July Output Boost - Bloomberg PRICES West Texas Intermediate for July delivery gained 0.7% to $66.76 a barrel on the New York Mercantile Exchange at 6:27 a.m. London time after advancing 4.3% last week.Futures are up 5% this month.Brent for August settlement rose 0.6% to $69.13 on the ICE Futures Europe exchange after losing 0.7% in the previous session.There are holidays in the U.S. and U.K. on Monday. Oil advanced in Asian trading with the mar...
Tags: Travel, New York, London, Russia, Opec, Bloomberg, Iran, Vienna, United Nations, New York Mercantile Exchange, Rupert Neil Bumfrey, ICE Futures Europe


OPEC+ Talks to Offer Clues on Next Phase of Oil Supply Revival - Bloomberg

OPEC+ Talks to Offer Clues on Next Phase of Oil Supply Revival - Bloomberg For oil traders, the biggest question in the market is how fast OPEC and its allies will revive production later this year. Next week they may get some clues.When it meets on Tuesday, delegates said the alliance led by Saudi Arabia and Russia looks set to rubber-stamp output increases scheduled for the next two months.But more importantly, Riyadh and Moscow may offer insights on the next stage of their strategy: bringin...
Tags: Travel, Saudi Arabia, Russia, India, Opec, Bloomberg, Iran, Moscow, Riyadh, Organization of Petroleum Exporting Countries, Rupert Neil Bumfrey, Enverus, Bill Farren


MIDEAST STOCKS #Saudi leads major Gulf markets higher; Egypt slides | Reuters

Major stock markets in the Gulf ended higher on Tuesday, with the Saudi index leading the way, while broad-based losses pulled Egyptian shares lower amid media reports the country's National Bank is set to raise $1 billion to refinance debt.Egypt's blue-chip index (.EGX30) declined 2.1%. Most of the stocks on the index were in negative territory, including Commercial International Bank (COMI.CA), which dropped 2%.Saudi Arabia's benchmark index (.TASI) finished 1.3% higher, buoyed by a 1.8% ri...
Tags: Travel, Saudi Arabia, Russia, Qatar, Egypt, United Arab Emirates, Abu Dhabi, Gulf, Reuters, Adi, Riyad Bank, Alexander Novak, QNB, National Bank, Tasi, Rupert Neil Bumfrey


Down at heel Black Sea resort pins its hopes on Russian staycations

The seaside town of Anapa hopes foreign travel ban will bring holidaymakers back It is not yet peak season on Anapa’s Black Sea coast so there is still space to spread out on its sandy beach, the pride of a resort town that may be one of the best chances many Russians get to visit the seaside this year.Wander through the streets beyond the waterfront and you’ll find a sprawl of knick-knack shops, amusement and water parks, shashlik stands and carnival games that make up what is, this year, Russi...
Tags: Travel, Russia, World news, Black Sea, Beach Holidays, Anapa


Top LNG Exporter #Qatar Undercuts Rivals to Keep Dominating Market - Bloomberg

Top LNG Exporter Qatar Undercuts Rivals to Keep Dominating Market - Bloomberg The world’s top exporter of liquefied natural gas is ramping up production dramatically and undercutting competitors in a bid to squeeze them out of the market.Qatar is dropping prices and pushing ahead with a $29 billion project to boost its exports of the fuel by more than 50%, stymieing the prospects of new plants elsewhere. It’s also established a trading team to compete in the nascent spot market and pushing int...
Tags: Travel, Asia, Europe, Texas, Australia, China, Russia, Africa, Qatar, Iran, Beijing, Pakistan, Louisiana, Sinopec, Thomas, Citigroup Inc


Oil Market Gets a Boost as Top Asian Refiners Scoop Up Cargoes - Bloomberg

Oil Market Gets a Boost as Top Asian Refiners Scoop Up Cargoes - Bloomberg A wave of strong oil buying by processors in China and Japan -- underpinned by one mega-refiner’s massive spree -- has lifted spot premiums in Asia’s physical market, adding to signs of rising global demand.Spot premiums for crude grades favored by Chinese and Japanese refiners, such as Russia’s ESPO and Qatar’s Al-Shaheen, have surged to multi-month highs, according to traders who asked not to be identified. Dubai crud...
Tags: Travel, Asia, Europe, Japan, China, Iraq, Russia, India, Qatar, Bloomberg, Thailand, Dubai, Indian Oil Corp, Espo, Rupert Neil Bumfrey, Al Shaheen


Alaska just joined the Oneworld alliance alongside American Airlines, British Airways, and 11 other carriers - here's why that's great for flyers

An Alaska Airlines Boeing 737 painted in a special Oneworld livery. Ingrid Barrentine/Alaska Airlines Aiaska Airlines is the newest member of the Oneworld airline alliance, formally joining in March. Flyers will notice better connecting options and increased cooperation between member airlines. Frequent Alaska flyers benefit the most with elite status carrying over to 13 other carriers. See more stories on Insider's business page. Alaska Airlines in March became the 14th and newest me...
Tags: Travel, Transportation, Asia, Europe, New York, News, Air Travel, Russia, Planes, Africa, America, Trends, Flying, Alaska, Middle East, Aviation


Mubadala Had Record Investments as Focus Shifts Away From Energy - Bloomberg

Mubadala Had Record Investments as Focus Shifts Away From Energy - Bloomberg Abu Dhabi’s second-largest sovereign wealth fund invested a record amount of money during last year’s global crisis as its focus increasingly shifts into high-growth sectors such as technology and health-care.Mubadala Investment Co. said new investments amounted to 108 billion dirhams ($29.4 billion) in areas such as technology, life sciences and consumer goods, according to its 2020 results published on Thursday. Its...
Tags: Travel, Russia, Kuwait, Uae, Silver Lake, Gulf, Reliance Industries Ltd, Khaldoon Al Mubarak, Rupert Neil Bumfrey, Mubadala, Mubadala Investment Co, India France China


Postnuptial agreements are very similar to prenuptial agreements.

6. The company will indemnify the employer against any claim, loss, damage occurred, or caused to the employer due to willful acts or omissions or carelessness or negligence of the security guards employed by the company, while on duty. 3. The company at its own expenses shall provide its security guards with necessary uniform, arms, outfit, etc. required for the effective discharge of security services to the employer. 9. The employer shall be entitled to supervise the services provided by the ...
Tags: Travel, Supreme Court, China, Russia, Uncategorized, US, Barack Obama, Iran, Taiwan, United States, Kyrgyzstan, Tokyo, Defence, Haiti, Sap, IAEA


#Saudi Aramco 1% Stake Is a Tough Sell - Bloomberg

Saudi Aramco 1% Stake Is a Tough Sell - Bloomberg Five years after Crown Prince Mohammed Bin Salman ventured that “in 2020 we can live without oil,” he is, once again, hawking Saudi Arabia’s oil champion to raise funds. In a recent, sweeping interview with Arab News, he teased the potential sale of 1% of Saudi Arabian Oil Co., or Saudi Aramco, to a “huge company” in an oil-importing country.Who would pay $19 billion for that sliver of the Saudi dream? The obvious candidates are in Asia, where ...
Tags: Travel, Asia, Saudi Arabia, Russia, India, Bloomberg, Reliance, Reuters, Aramco, Saudi Aramco, Mohammed bin Salman, BP Plc, Reliance Industries Ltd, David Fickling, Saudi Arabian Oil Co, Rupert Neil Bumfrey


UPDATE 1-Russian oil output rises 2% in April following OPEC+ deal | Reuters

UPDATE 1-Russian oil output rises 2% in April following OPEC+ deal | Reuters Russian oil and gas condensate output rose 2% to 10.46 million barrels per day (bpd) in April, from 10.25 million bpd in March, according to Reuters calculations based on an Interfax report on Sunday citing energy ministry data.Under a deal agreed by the OPEC+ group of leading oil producers in March, Russia’s production quota was allowed to increase by 130,000 bpd from April 1 to 9.379 million bpd, excluding the outpu...
Tags: Travel, Russia, Opec, Iran, Reuters, Interfax, Organization of the Petroleum Exporting Countries, Rupert Neil Bumfrey


Oil rises despite OPEC+ sticking to raising output amid India COVID surge | Reuters

Oil rises despite OPEC+ sticking to raising output amid India COVID surge | ReutersOil prices edged higher on Tuesday as OPEC, Russia and their allies will stick to plans to raise output slightly from May 1, suggesting it does not see a lasting impact on demand from India’s coronavirus crisis.OPEC+, as the producer group is known, has also ditched plans to hold a full ministerial meeting on Wednesday, sources said. A technical meeting on Monday had voiced concern about surging COVID-19 cases but...
Tags: Travel, Russia, India, Opec, Reuters, Alexander Novak, Rupert Neil Bumfrey, Rystad Energy, Bjornar Tonhaugen


OPEC Is Cautious About All That Unused Oil Stored Around the World - Bloomberg

OPEC Is Cautious About All That Unused Oil Stored Around the World - BloombergThe OPEC+ group of oil producers, led by Saudi Arabia and Russia, may have got inventory levels back up to where they want them, but that doesn’t mean they can take their feet off the brakes on production just yet.At their last meeting, inauspiciously held on April Fool’s Day, the group set out a path to restore some of their shut-down production over the next three months. The easing, but not yet the ending, of output...
Tags: Travel, Saudi Arabia, Russia, Opec, OECD, U S Energy Information Administration, Rupert Neil Bumfrey, Saudi Arabia Russia, World Bloomberg


Oil prices edge down as investors weigh rising supplies, demand outlook | Reuters

Oil prices edge down as investors weigh rising supplies, demand outlook | ReutersOil prices edged down on Friday as investors weighed rising supplies from major producers and the impact on fuel demand from the COVID-19 pandemic.Brent crude futures for June edged down 12 cents, or 0.2%, to $63.08 a barrel by 0731 GMT, while U.S. West Texas Intermediate (WTI) crude for May was at $59.59 a barrel, down 1 cent.Both contracts are on track to post a 2%-3% drop this week after the Organization of the P...
Tags: Travel, Russia, Opec, Reuters, U S West Texas Intermediate WTI, Petroleum Exporting Countries OPEC, Rupert Neil Bumfrey


Column: OPEC+ bets crude oil demand will recover as fast as output returns | Reuters

Column: OPEC+ bets crude oil demand will recover as fast as output returns | ReutersThe move by the OPEC+ group of oil exporters to ease their output restrictions from May onwards is effectively a bet that the current soft demand for crude will improve at the same pace as production returns.If history is a guide, it will be extremely difficult to get that balance correct, especially in the wake of such a large disruption to the global oil market as the coronavirus pandemic.With the impact of the...
Tags: Travel, Saudi Arabia, Russia, Opec, Reuters, Rupert Neil Bumfrey


Oil Declines After OPEC+ Wagers Market Can Absorb Extra Barrels - Bloomberg

Oil Declines After OPEC+ Wagers Market Can Absorb Extra Barrels - BloombergOil retreated after OPEC+ decided to ramp up output over the three months to July and figures showed coronavirus infections in India hit a record, highlighting risks to energy demand in one of Asia’s main importers.West Texas Intermediate fell 0.9%, paring the 3.9% gain seen on Thursday, when the alliance agreed to loosen its supply curbs gradually. The grouping will raise production by more 1 million barrels a day in sta...
Tags: Travel, Asia, Saudi Arabia, Russia, India, Opec, Bloomberg, Organization of Petroleum Exporting Countries, Rupert Neil Bumfrey, Abdulaziz bin Salman, Saudi Energy


Saudis Hike Oil Prices for Key Asia Market in Sign of Confidence - Bloomberg

Saudis Hike Oil Prices for Key Asia Market in Sign of Confidence - BloombergSaudi Arabia raised prices for oil shipments to customers in its main market of Asia for next month, signaling the kingdom’s confidence in the region’s economic recovery.The decision comes after the OPEC+ cartel, led by the Saudis and Russia, agreed to boost daily crude production by more than 2 million barrels between May and July.Aramco, the Saudi state energy firm, will increase prices of its grades for Asia by betwee...
Tags: Travel, Asia, Russia, Opec, Bloomberg, Rupert Neil Bumfrey, Confidence BloombergSaudi Arabia


Oil poised for gains as Opec+ decision proves price positive for markets | The National

Oil poised for gains as Opec+ decision proves price positive for markets | The NationalOil prices are poised for future gains, following the unexpected decision by Opec+ to turn on the taps and add two million barrels per day back to the market.The group, headed by Saudi Arabia and Russia, will add 350,000 bpd next month, with a similar volume to be added in June. Opec+ will supply 450,000 bpd in July.Saudi Arabia, the largest exporter within the group, will unwind its extraordinary commitment t...
Tags: Travel, Saudi Arabia, Russia, US, Opec, Rupert Neil Bumfrey


Opec+ agrees to increase oil production gradually from May | Financial Times

Opec+ agrees to increase oil production gradually from May | Financial Times The Opec+ oil alliance decided on Thursday to increase output gradually from May as pressure mounts from inside and outside the producers group to release more barrels on to the market and keep crude prices in check.  The decision by the 24-member body comes despite Abdulaziz bin Salman, Saudi Arabia’s energy minister, warning Opec and allies including Russia earlier in the day that crude’s recovery was “fa...
Tags: Travel, Saudi Arabia, Russia, India, US, Opec, Financial Times, Abdulaziz, Jennifer Granholm, Rupert Neil Bumfrey, Abdulaziz bin Salman, Prince Abdulaziz, Alexander Novak Russia


Experts say it's unlikely COVID-19 passports will come about: 'The vaccine passport could wind up being irrelevant'

Robert F. Balazik/Shutterstock Robert F. Balazik/Shutterstock Experts say it's unlikely an international COVID-19 passport travel system will come about. They have flagged privacy, inequality, politics, and long-term need as the main problems. Still, the travel industry is banking on a system to allow international travel to resume. See more stories on Insider's business page. COVID-19 passports have been hailed as the key to opening up the global economy, but some privacy and hea...
Tags: Travel, Transportation, New York, Science, News, White House, China, Russia, US, America, Trends, European Union, Joe Biden, Philippines, Healthcare, Who


Oil gains as OPEC+ meets to decide on production policy | Reuters

Oil gains as OPEC+ meets to decide on production policy | Reuters Crude prices rose on Thursday, recouping some of the previous session’s losses as hopes grew that OPEC and its allies later on Thursday would decide to keep curtailing production in place in the face of resurgent COVID-19 infections in some regions.Brent crude for June delivery was up by 71 cents, or 1.1%, at $63.45 a barrel by 0326 GMT after falling 2.2% overnight. U.S. oil was up 71 cents, or 1.2%, at $59.87 a barrel, having dr...
Tags: Travel, Russia, Opec, Kazakhstan, Reuters, Reuters Crude, Eurasia Group, Petroleum Exporting Countries OPEC, Rupert Neil Bumfrey



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