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Saudis Spiral Deeper Into Isolation Amid U.S. Ire Over #Khashoggi - Bloomberg

Saudis Spiral Deeper Into Isolation Amid U.S. Ire Over Khashoggi - Bloomberg:Saudi Crown Prince Mohammed Bin Salman’s U.S. trip a year ago was packed with the sort of events most world leaders struggle to secure: a meeting at Bill Gates’s home, a tour of Amazon.com Inc.’s headquarters and a private visit to Virgin Galactic’s hangar in the Mojave Desert.The murder of Jamal Khashoggi destroyed all that, leaving the 33-year-old heir to the Saudi throne shunned, his government unable to repair ties ...
Tags: Travel, Washington Post, Saudi Arabia, Senate, Virgin Galactic, Bill Gates, Yemen, Mohammed bin Salman, Amazon com Inc, Mojave Desert, Rupert Neil Bumfrey, Khashoggi, Jamal Khashoggi, Khashoggi Bloomberg


MIDEAST STOCKS- #Saudi near-4 year high days after entering FTSE Russell index | Reuters

MIDEAST STOCKS-Saudi near-4 year high days after entering FTSE Russell index | Reuters:All of Saudi Arabia's banks rose onThursday, lifting its stock exchange to a near-four year highfollowing its inclusion in the FTSE Russell's emerging-marketindex this week.Saudi's Tadawul index will have a weighting of 2.9percent in the FTSE Emerging All Cap Index and this year willjoin the MSCI emerging market benchmark. The market ispositioned for passive fund inflows of around $20 billion.Saudi Arabia's in...
Tags: Travel, Saudi Arabia, Reuters, Tadawul, MSCI, Russell, Riyad Bank, Rupert Neil Bumfrey, Al Rajhi Bank


Landmark for Saudi stocks as index providers become kingmakers | Financial Times

Landmark for Saudi stocks as index providers become kingmakers | Financial Times:A landmark year for Saudi Arabia’s stock market will have little to do with Saudi Aramco, the country’s oil giant whose IPO plan has been put on hold.Instead, the world’s three largest index providers will funnel billions and billions of dollars into Saudi stocks after admitting them to benchmarks whose influence has grown alongside the rise of passive investing over the past decade.The process, which began this wee...
Tags: Travel, Saudi Arabia, Dow Jones, Financial Times, Saudi Aramco, Russell, Rupert Neil Bumfrey


Oil Stays Above $60 on U.S. Stockpile Draw and Saudi Supply Drop - Bloomberg

Oil Stays Above $60 on U.S. Stockpile Draw and Saudi Supply Drop - Bloomberg:Oil held above $60 a barrel after the biggest withdrawal of crude in American storage tanks since July raised speculation that global supplies are tightening. Futures for May in New York were little changed after the April contract reached the highest level this year before expiring on Wednesday. U.S. government data showed a 9.59 million-barrel decline in nationwide stockpiles, exceeding analysts’ expectations. Crude e...
Tags: Travel, New York, Saudi Arabia, Iran, Venezuela, Organization of Petroleum Exporting Countries, Rupert Neil Bumfrey, Saudi Supply Drop Bloomberg, Meanwhile the Federal Reserve


Oil Hits 2019 High on Biggest U.S. Crude Storage Drop Since July - Bloomberg

Oil Hits 2019 High on Biggest U.S. Crude Storage Drop Since July - Bloomberg:Oil closed at a new high for the year in New York after the biggest withdrawal of crude in U.S. storage tanks since July signaled further tightening supplies.Futures gained 1.4 percent on Wednesday after a 9.59 million-barrel decline in American oil stockpiles reported by the government exceeded analysts’ expectations. U.S. crude exports were near a record high while imports from Saudi Arabia decreased by more than half...
Tags: Travel, New York, Saudi Arabia, Toronto, Venezuela, Rupert Neil Bumfrey, Bart Melek


Mideast Stocks: Petrochemicals companies hold back #Saudi as rival markets firm | ZAWYA MENA Edition

Mideast Stocks: Petrochemicals companies hold back Saudi as rival markets firm | ZAWYA MENA Edition:Saudi Arabia's stock market dropped on Wednesday as petrochemical companies slid amid falling oil prices while rival markets were mostly lifted by financial stocks. The Saudi index eased 0.2 percent from the multi-year closing high hit after it entered FTSE Russell's emerging-market index on Monday.The Middle East's largest petrochemicals producer Saudi Basic Industries 2010.SE slipped 0.3 percent...
Tags: Travel, Saudi Arabia, Middle East, Russell, Riyad Bank, Rupert Neil Bumfrey, Saudi Basic Industries, MENA Edition


Mideast Stocks: Global mood pulls down most major Gulf markets | ZAWYA MENA Edition

Mideast Stocks: Global mood pulls down most major Gulf markets | ZAWYA MENA Edition:Saudi Arabia's stock market dropped on Wednesday as its banks fell, while most major Gulf markets also slid, mirroring global cues ahead of a decision by the U.S. Federal Reserve on its interest rate plans for the year.Major Gulf countries have their currencies pegged with the U.S. dollar and any decision by the Federal Reserve will directly impact currency performance of those countries.Saudi's index fell 0.4 pe...
Tags: Travel, Saudi Arabia, Federal Reserve, Gulf, U S Federal Reserve, Russell, Rupert Neil Bumfrey, Major Gulf


Blackstone-Backed GEMS Is Said to Bid for Top #Saudi School Chain - Bloomberg

Blackstone-Backed GEMS Is Said to Bid for Top Saudi School Chain - Bloomberg:GEMS Education, the Dubai-based school operator backed by Blackstone Group LP, is in advanced talks to invest in Saudi Arabia’s Maarif for Education & Training chain of schools, according to people with knowledge of the matter.The deal for the largest owner and operator of private schools in the kingdom could be worth about $400 million, the people said, asking not to be identified because the discussions are private. S...
Tags: Travel, Saudi Arabia, Dubai, Blackstone, Blackstone Group LP, Rupert Neil Bumfrey, Al Blehed, Samba Capital, Top Saudi School Chain Bloomberg, Maarif for Education Training, Maarif


Money From London to New York Flocks to #Saudi-Focused ETFs - Bloomberg

Money From London to New York Flocks to Saudi-Focused ETFs - Bloomberg:Exchange-traded funds in the U.S. and the U.K. focused on Saudi Arabian equities are piling up new money this year, placing the Middle Eastern kingdom high in a global ranking.A London-based ETF and another that trades in New York together attracted around $327 million in new money since the beginning of January. The net flow as a percentage of assets for Saudi Arabia funds increased about 47 percent this year, more than any ...
Tags: Travel, New York, London, Saudi Arabia, Bloomberg, Croatia, Invesco, Russell, BlackRock Inc, Rupert Neil Bumfrey, MSCI Inc, New York Flocks


MIDEAST STOCKS- #Saudi inches up after index inclusion, Egypt hits 3-month low | Reuters

MIDEAST STOCKS-Saudi inches up after index inclusion, Egypt hits 3-month low | Reuters:Saudi Arabia's stock index edged up on Tuesday after touching a near-four year high on Monday, which was its first day as a member of FTSE Russell's emerging-market index.Egypt's blue-chip index, meanwhile, was pulled down by a wide sell-off to its biggest intra-day loss this year.Saudi's Tadawul index will have a weighting of 2.9 percent in the FTSE Emerging All Cap Index and later this year will join the MSC...
Tags: Travel, Saudi Arabia, Egypt, Reuters, Tadawul, MSCI, Russell, Rupert Neil Bumfrey


#Saudi king launches $23 billion entertainment projects in Riyadh: state TV | Reuters

Saudi king launches $23 billion entertainment projects in Riyadh: state TV | Reuters:Saudi Arabia’s King Salman has launched four entertainment projects in the capital Riyadh, together worth 86 billion riyals ($23 billion), state television reported on Tuesday.The projects include a park, sports track and an art center.The King also ordered that one of the capital’s main roads should be named after Crown Prince Mohammed bin Salman. [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Saudi Arabia, Reuters, Riyadh, Mohammed bin Salman, Salman, Rupert Neil Bumfrey


#Saudi FTSE inclusion to attract up to $7bln of passive inflows by March 2020: index provider | ZAWYA MENA Edition

Saudi FTSE inclusion to attract up to $7bln of passive inflows by March 2020: index provider | ZAWYA MENA Edition:The transition of Saudi Arabia to secondary emerging market status within FTSE Russell, which began on Monday, is expected to draw up to $7 billion of passive fund inflows into the kingdom, the global index provider told Zawya, noting a positive initial response.The kingdom's stock exchange (Tadawul) is the Arab world’s largest bourse with a total market capitalisation of over half a...
Tags: Travel, Saudi Arabia, Tadawul, Russell, Rupert Neil Bumfrey, Zawya


Mideast Stocks: #Saudi eases back from multi-year closing high | ZAWYA MENA Edition

Mideast Stocks: Saudi eases back from multi-year closing high | ZAWYA MENA Edition:Saudi Arabia's stock index edged down on Tuesday after closing at a near-four year high on Monday, which was its first day as a member of FTSE Russell's emerging-market index. Most other major Middle Eastern markets were mixed in muted trading.Saudi's Tadawul index will have a weighting of 2.9 percent in the FTSE Emerging All Cap Index and later this year will join the MSCI emerging market benchmark. The market is...
Tags: Travel, Saudi Arabia, Reuters, Tadawul, Mideast, MSCI, Russell, Rupert Neil Bumfrey


#Saudi appetite for U.S. Treasury holdings still high despite $9bln drop in January - analyst | ZAWYA MENA Edition

Saudi appetite for U.S. Treasury holdings still high despite $9bln drop in January - analyst | ZAWYA MENA Edition:Saudi Arabia’s holdings in United States government debt securities dropped by $9 billion in January from a month earlier, official data showed.Despite the drop, Saudi interest in U.S. holdings in still high, an analyst told Zawya, but could weaken if the U.S. dollar strengthens further in value, or if the kingdom needs additional cash to support the state’s sovereign wealth fund.The...
Tags: Travel, Saudi Arabia, United States, U S Treasury, Rupert Neil Bumfrey, Zawya, MENA Edition


#SaudiArabia takes first step into foreign equity benchmarks | Financial Times

Saudi Arabia takes first step into foreign equity benchmarks | Financial Times:Saudi Arabia’s $536bn stock market took its first step into the world’s main equity benchmarks on Monday when it was admitted into indices run by FTSE Russell and S&P Dow Jones.The moves will be added to in June, when Saudi stocks will be added to the widely followed MSCI Emerging Markets index, which MSCI says is tracked by $1.9tn of assets.Saudi Arabia’s stock market, known as the Tadawul, is projected to be the eig...
Tags: Travel, Saudi Arabia, Poland, Tadawul, MSCI, Russell, Rupert Neil Bumfrey, | Financial Times, Mexico Indonesia


#Dubai property developer Damac on hunt for land in Saudi Arabia

Dubai property developer Damac on hunt for land in Saudi Arabia:The Dubai-listed developer Damac says it is scouting for additional plots of land in Saudi Arabia, both in established cities and the Kingdom’s emerging giga-projects such as Neom.Hussain Sajwani, chairman of Damac Properties, also said the company would look to invest up to £500 million ($660 million) on a second development in the UK, and that it is on track to deliver a record 7,000 or more units this year.Amid a slowing property...
Tags: Travel, UK, Saudi Arabia, Kingdom, Dubai, DAMAC Properties, Rupert Neil Bumfrey, Damac, Neom Hussain Sajwani, Dubai Damac


Exclusive: #SaudiArabia curbs family influence in Binladin group shake-up | Reuters

Exclusive: Saudi Arabia curbs family influence in Binladin group shake-up | Reuters:The influence of Saudi Arabia’s Bin Laden family on its eponymous construction business has been curtailed in a restructuring that follows an anti-corruption crackdown by Riyadh, a document seen by Reuters shows.Saudi businessman Khalid Nahas has been named chairman of the newly-established Binladin Group Global Holding Company, which is 36.22 percent owned by Istidama, a finance ministry subsidiary, and 63.78 pe...
Tags: Travel, Saudi Arabia, Bin Laden, Reuters, Riyadh, Abdullah, Finance Ministry, Saad, Rupert Neil Bumfrey, Binladin, Saudi Binladin Group SBG, Khalid Nahas, Binladin Group Global Holding Company, Istidama


Mideast's biggest exchange expects foreign investment to grow, CEO says | Reuters

Mideast's biggest exchange expects foreign investment to grow, CEO says | Reuters:Saudi Arabia’s listed companies could see holdings by foreign investors rise to 10 percent when their shares are included in index providers MSCI and FTSE’s emerging-market indices, the chief executive of Tadawul told Reuters on Monday.Tadawul is the Middle East’s largest exchange and Saudi Arabia’s main exchange. It has a total market capitalization of around $541.3 billion, with a free float of about 40 percent.S...
Tags: Travel, Saudi Arabia, Middle East, Reuters, Tadawul, Mideast, MSCI, Rupert Neil Bumfrey, MSCI Emerging Markets Index


MIDEAST STOCKS- #Saudi closes at near 4-year high as it joins FTSE Russell index | Reuters

MIDEAST STOCKS-Saudi closes at near 4-year high as it joins FTSE Russell index | Reuters:Saudi Arabia's benchmark stock index closed at its highest in nearly four years on Monday as bank shares rose on its first day as a member of FTSE Russell's emerging-market index, which is expected to attract billions in passive fund inflows.Saudi's Tadawul index will have a weighting of 2.9 percent in the FTSE Emerging All Cap Index and later this year will join the MSCI emerging market benchmark. The marke...
Tags: Travel, Saudi Arabia, Reuters, Tadawul, MSCI, Rupert Neil Bumfrey, Jamal Khashoggi


Tourists will ‘want to be able to drink' in Saudi Arabia says AccorHotels CEO

Speaking to Arabian Business, Sébastien Bazin said the kingdom will need to make certain exceptions for tourists in order to attract visitors to the country.
Tags: Travel, Saudi Arabia, Sebastien Bazin


#Saudi crown prince allegedly stripped of some authority | World news | The Guardian

Saudi crown prince allegedly stripped of some authority | World news | The Guardian:The heir to the Saudi throne has not attended a series of high-profile ministerial and diplomatic meetings in Saudi Arabia over the last fortnight and is alleged to have been stripped of some of his financial and economic authority, the Guardian has been told.The move to restrict, if only temporarily, the responsibilities of Crown Prince Mohammed bin Salman is understood to have been revealed to a group of senior...
Tags: Travel, Saudi Arabia, Guardian, King Salman, Mohammed bin Salman, Rupert Neil Bumfrey, Bin Salman


RPT- #Saudi stocks set to receive $20 bln windfall even as some investors sit out | Reuters

RPT-Saudi stocks set to receive $20 bln windfall even as some investors sit out | Reuters:Saudi Arabia’s inclusion in major emerging markets stock indices from Monday is likely to suck in around $20 billion in passive inflows, but unease after Jamal Khashoggi’s murder and sluggish reforms could lead some active foreign investors to steer clear.Saudi Arabia will be the biggest recent addition to the global indices, the largest of which is the MSCI Emerging Markets Index, which it joins from May. ...
Tags: Travel, Mexico, Saudi Arabia, Russia, Reuters, Rupert Neil Bumfrey, Khashoggi, Jamal Khashoggi


Bailed-out #Bahrain has little room for maneuver in economy reboot | Reuters

Bailed-out Bahrain has little room for maneuver in economy reboot | Reuters:As the weekend kicks off in Bahrain, Saudi Arabian and Kuwaiti cars jam the capital’s roads and hotel lobbies fill with visitors looking for bars, restaurants and other night-time entertainment.A new sales tax introduced this year means government coffers will gain with every glass of wine sold and shisha pipe smoked, but that’s still not enough to plug a large gap in the island kingdom’s finances and wean it off aid fro...
Tags: Travel, Saudi Arabia, United Arab Emirates, Bahrain, Kuwait, Reuters, Rupert Neil Bumfrey, Bahrain Saudi Arabian


Mideast Stocks: #Saudi shares up as market enters FTSE Russell index | ZAWYA MENA Edition

:Saudi Arabia's stock market inched up on Monday, its first day as a member of the FTSE Russell's emerging-market index, which is expected to attract billions in passive fund inflows."We believe there is some leeway on how the FTSE inflows get affected – passive trackers can build positions over a few days prior to the actual date. On Thursday, the market traded more than 1.4 billion Saudi riyals, which is unusual. Nevertheless, we may still see strong inflows at close today," said Vrajesh Bhand...
Tags: Travel, Saudi Arabia, Mideast, Rupert Neil Bumfrey, Vrajesh Bhandari, Al Mal Capital Saudi, Abdullah Abdul Mohsin Al Khodari Sons


Qatar’s LNG ramp up to see $35bn greenfield investments - The Peninsula Qatar

Qatar’s LNG ramp up to see $35bn greenfield investments - The Peninsula Qatar:The global oil and gas industry’s investments in new projects are set to double in 2019, with Qatar, the UAE and Saudi Arabia fueling growth. Qatar which has plans to boost its LNG capacity to 110 million tonnes per annum (million tpa) will require more than $35bn in greenfield investments, making it one of the biggest projects to be approved in the region over the last decade, according to Rystad Energy forecast.Rysta...
Tags: Travel, Saudi Arabia, Qatar, Middle East, Uae, Rupert Neil Bumfrey, Rystad Energy, Rystad, Peninsula Qatar


#Saudi signals OPEC may need to extend oil cuts until end-2019 | Reuters

Saudi signals OPEC may need to extend oil cuts until end-2019 | Reuters:Saudi Arabia said on Sunday OPEC’s job in rebalancing the oil market was far from done as global inventories were still rising despite harsh U.S. sanctions on Iran and Venezuela, signaling it may need to expand output cuts into the second half of 2019.Russia, which is cutting oil output in tandem with OPEC, also said production cuts would stay in place at least until June, when Washington’s next steps on reducing Iran’s and ...
Tags: Travel, Washington, Saudi Arabia, Russia, Opec, Iran, United States, Venezuela, Reuters, Rupert Neil Bumfrey


#SaudiArabia's New Rules Set to Raise Islamic Tax for Some Banks - Bloomberg

Saudi Arabia's New Rules Set to Raise Islamic Tax for Some Banks - Bloomberg:Saudi Arabia set out new rules for the calculation of an Islamic tax on banks that’ll result in them paying between 10 percent to 20 percent of net profit.The General Authority of Zakat & Tax set limits for the taxable asset base of between four times and eight times net profit, according to a statement on its website. That’s equivalent to a corridor of between 10 percent and 20 percent of net income, Bloomberg Intellig...
Tags: Travel, Saudi Arabia, Bloomberg, Bloomberg Intelligence, Rupert Neil Bumfrey, Edmond Christou, General Authority of Zakat Tax


RPT- #Saudi stocks set to receive $20 bln windfall even as some investors sit out | Reuters

RPT-Saudi stocks set to receive $20 bln windfall even as some investors sit out | Reuters:Saudi Arabia’s inclusion in major emerging markets stock indices from Monday is likely to suck in around $20 billion in passive inflows, but unease after Jamal Khashoggi’s murder and sluggish reforms could lead some active foreign investors to steer clear.Saudi Arabia will be the biggest recent addition to the global indices, the largest of which is the MSCI Emerging Markets Index, which it joins from May. ...
Tags: Travel, Mexico, Saudi Arabia, Russia, Reuters, Rupert Neil Bumfrey, Khashoggi, Jamal Khashoggi


#Saudi Falih optimistic on continued commitment to OPEC+ oil supply cut | Reuters

Saudi Falih optimistic on continued commitment to OPEC+ oil supply cut | Reuters:Saudi Arabia’s energy minister said on Sunday he was optimistic about continued commitment to the oil supply cut agreement between OPEC and non-OPEC members. “I am obviously optimistic that implementation of our OPEC+ agreement will improve, it’s already strong by historical standards,” Khalid al-Falih said on the sidelines of the joint ministerial monitoring committee meeting in Baku.Overall conformity with the cut...
Tags: Travel, Saudi Arabia, Opec, Reuters, Baku, Khalid al Falih, Rupert Neil Bumfrey, Falih


Crude at Four-Month High as OPEC Signals Commitment to Cuts - Bloomberg

Crude at Four-Month High as OPEC Signals Commitment to Cuts - Bloomberg:Crude closed higher for a fourth straight day in New York ahead of a weekend meeting where the world’s top exporters will discuss whether to extend supply cuts.U.S. benchmark oil climbed 0.6 percent on Thursday, settling at a four-month high. Ahead of a meeting in Azerbaijan, the OPEC secretariat urged producers to continue efforts to prevent a surplus this year. Ministers from the coalition’s two central players, Russia and...
Tags: Travel, New York, Saudi Arabia, Russia, Kingdom, Opec, Bloomberg, Azerbaijan, Rupert Neil Bumfrey, John Kilduff, Again Capital LLC



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