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The incentive for KSA to go early to global bond markets | Arab News

The incentive for KSA to go early to global bond markets | Arab News:Saudi Arabia, and indeed the rest of the Gulf countries, have signaled their intention to tap the international capital markets at record levels in 2019. But there is a risk as the year goes on that those markets will be more demanding, and may charge the issuers more for their services.The Kingdom was the first one into the global debt markets earlier this month, with a $7.5 billion bond offering that was instantly snapped up ...
Tags: Travel, Saudi Arabia, Kingdom, US, Ksa, Gulf, Rupert Neil Bumfrey, Jamal Khashoggi


Russia Aims to Speed Up Oil Output Cuts as Saudis Criticize Pace - Bloomberg

Russia Aims to Speed Up Oil Output Cuts as Saudis Criticize Pace - Bloomberg:Russia is aiming to accelerate the pace of oil production cuts after its reductions drew criticism from Saudi Arabia.“Of course, we will try to make the cuts faster,” Energy Minister Alexander Novak told reporters in Belgrade, Serbia. “We have our limitations of a technological nature, yet we will aim to reach the levels we agreed on.”Novak’s comments come just days after Saudi Energy Minister Khalid Al-Falih said Russi...
Tags: Travel, Saudi Arabia, Russia, Bloomberg, Novak, Organization of Petroleum Exporting Countries, BELGRADE Serbia, Khalid al Falih, Alexander Novak, Rupert Neil Bumfrey, Saudi Energy


#Saudi Bonds to Join JPMorgan Index in $119 Billion Gulf Addition - Bloomberg

Saudi Bonds to Join JPMorgan Index in $119 Billion Gulf Addition - Bloomberg:Saudi Arabia and four other Gulf nations will join JPMorgan Chase & Co.’s emerging-market bond indexes this month, potentially paving the way for billions of dollars in inflows into the securities.The debt from the world’s biggest oil-exporting nation along with Qatar, the United Arab Emirates, Bahrain and Kuwait will represent about 11.8 percent of the EMBI Global Diversified Index and 12 percent of the EMBI Global beg...
Tags: Travel, New York, Saudi Arabia, Qatar, Bahrain, Kuwait, Gulf, JPMorgan Chase Co, United Arab Emirates Bahrain, Saudi Arabia Qatar, Rupert Neil Bumfrey, AllianceBernstein, Shamaila Khan, Billion Gulf Addition Bloomberg, JPMorgan Index, EMBI Global


#Saudi's NCB set to pick JPMorgan to advise on bank merger talks: sources | Reuters

Saudi's NCB set to pick JPMorgan to advise on bank merger talks: sources | Reuters:Saudi Arabia’s biggest lender, National Commercial Bank 1180.SE, is set to pick JPMorgan (JPM.N) to advise on its merger talks with smaller rival Riyad Bank 1010.SE, several sources familiar with the matter said.NCB, the kingdom’s biggest lender by assets, and Riyad Bank said in December they have begun preliminary discussions to merge, in a move that would further extend NCB’s lead over its closest rivals by boos...
Tags: Travel, Saudi Arabia, Reuters, Jpmorgan, Riyad Bank, NCB, Rupert Neil Bumfrey, Goldman Sachs GS, National Commercial Bank


Oil's 'Fair Price' Seen at $55 to $60 for Now, Arqaam Capital Says – Bloomberg

Oil's 'Fair Price' Seen at $55 to $60 for Now, Arqaam Capital Says – Bloomberg:Abdul Kadir Hussain, the head of fixed income at Arqaam Capital, talks about oil prices and the implications for Saudi Arabia's budget. He also discusses Saudi bond issuance, and the outlook for emerging-market bonds. He speaks with Manus Cranny with "Bloomberg Daybreak: Middle East." (Source: Bloomberg) [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Saudi Arabia, Bloomberg, Rupert Neil Bumfrey, Arqaam Capital, Bloomberg Daybreak, Abdul Kadir Hussain


Booming #Qatar- #Turkey trade to hit $2 billion for 2018 as Gulf rift drags on | Reuters

Booming Qatar-Turkey trade to hit $2 billion for 2018 as Gulf rift drags on | Reuters:Trade between Qatar and Turkey is expected to have hit $2 billion in 2018, a Turkish official said, up 54 percent from the previous last year and underscoring Ankara’s solidified role as a top ally to Qatar amid a political rift in the Gulf region.Ankara has emerged as one of Qatar’s top partners since a Saudi Arabia-led bloc launched a trade and diplomatic boycott of the tiny Gulf state in 2017, sending additi...
Tags: Travel, Saudi Arabia, Qatar, Turkey, Egypt, Doha, Gulf, Ankara, Reuters, Qatar Turkey, Rupert Neil Bumfrey, Saudi Arabia United Arab Emirates Bahrain


Russian sovereign wealth fund to boost deals with #SaudiArabia | Reuters

Russian sovereign wealth fund to boost deals with Saudi Arabia | Reuters:Russian sovereign wealth fund RDIF said on Wednesday it was poised to significantly increase its number of investment deals with Saudi Arabia.Kirill Dmitriev, the head of the fund, met Saudi Energy Minister Khalid al-Falih and other Saudi officials in Riyadh to discuss projects in oil refining, petrochemicals, gas chemicals and oilfield services, among other fields, RDIF said in a statement.The fund said last month it was c...
Tags: Travel, Saudi Arabia, Reuters, Riyadh, Khalid al Falih, Rupert Neil Bumfrey, Novatek, Saudi Energy, RDIF, Kirill Dmitriev, NVTK


Saudi's Samba bank 2018 profit up 10 percent, meets forecasts | Reuters

Saudi's Samba bank 2018 profit up 10 percent, meets forecasts | Reuters:Samba Financial Group, Saudi Arabia’s third-largest bank by assets, reported a 10 percent rise in 2018 net profit on Wednesday, in line with analysts’ forecasts.The bank made a profit of 5.53 billion riyals ($1.47 billion) for the year, up from 5.02 billion riyals in the same period a year earlier, it said in a bourse statement.The average of eight analysts polled forecast the bank would make a net profit of 5.59 billion riy...
Tags: Travel, Saudi Arabia, Samba, Reuters, Rupert Neil Bumfrey, Samba Financial Group


MIDEAST STOCKS-Banks elevate #Saudi, blue-chips lift Egypt | Reuters

MIDEAST STOCKS-Banks elevate Saudi, blue-chips lift Egypt | Reuters:Saudi Arabia's stock market rose on Wednesday, boosted by its bank shares, while Egypt's index was lifted by its blue-chip stocks, mirroring a gain in emerging markets.Saudi Arabia's index rose 0.7 percent with Banque Saudi Fransi rising 5.2 percent.Riyad Bank continued to rise, adding 4.5 percent. The lender had picked Goldman Sachs to advise on its merger talks with National Commercial Bank (NCB), Reuters reported, citing sour...
Tags: Travel, Saudi Arabia, Egypt, Goldman Sachs, Reuters, Riyad Bank, NCB, Rupert Neil Bumfrey, Banque Saudi Fransi, National Commercial Bank NCB Reuters


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


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


Experience Jordan: 6 Nights of Ancient History, Beautiful Scenery and Adventure!

“The day we stop exploring is the day we commit ourselves to live in a stagnant world, devoid of curiosity, empty of dreams.” A quote by Neil deGrasse Tyson, still holds true to this day and the days yet to come. We often limit ourselves to see the beauty of the world in accordance to what we know about it. Surprisingly enough, the many wonders of the world are no secret to those that realize that even places we may not have thought to visit are hosts to some of the most beautiful destinations,...
Tags: Travel, Saudi Arabia, Iraq, Syria, Earth, Middle East, Treasury, Neil Degrasse Tyson, Jordan, Artemis, Wadi Rum, Petra, Amman, Red Sea, Vic, Dead Sea


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


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


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


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


Independent Audit #Saudi Oil Reserves Raises Question on Value - Bloomberg

Independent Audit Saudi Oil Reserves Raises Question on Value - Bloomberg:In case you didn’t know it, Saudi Arabia is sitting on top of a lot of oil. The first independent assessment of reserves in about 40 years has just proved it. The question is how the kingdom ensures that most of it won’t still be there when the world no longer wants or needs it. Producers in the rest of the world had better pray it doesn’t decide to solve the problem.The two-and-a-half-year study by Dallas-based consultant...
Tags: Travel, Saudi Arabia, Dallas, Kuwait, Saudi Aramco, Rupert Neil Bumfrey, DeGolyer, MacNaughton, Value Bloomberg


MIDEAST STOCKS-Global woes hurt Egypt, weak oil pushes down #Saudi | Reuters

MIDEAST STOCKS-Global woes hurt Egypt, weak oil pushes down Saudi | Reuters:Egypt's blue-chip index fell sharply on Monday, weighed down by financial shares, mirroring a slide in global stocks amid fears of a slowdown in global growth, while Saudi Arabia snapped a seven-day winning streak as its petrochemicals were pulled down by sliding oil prices.Egypt's blue-chip index fell 1.4 percent with 23 of its 30 stocks declining.The country's biggest lender Commercial International Bank retreated 1.4 ...
Tags: Travel, Saudi Arabia, Egypt, Reuters, Rupert Neil Bumfrey, Commercial International Bank, Global Telecom


Saudi's Riyad Bank selects Goldman to advise on merger talks with NCB: sources | Reuters

Saudi's Riyad Bank selects Goldman to advise on merger talks with NCB: sources | Reuters:Saudi Arabia’s Riyad Bank 1010.SE has picked Goldman Sachs (GS.N) to advise on its merger talks with National Commercial Bank 1180.SE, two sources familiar with the matter said.NCB, the kingdom’s biggest lender by assets, and Riyad Bank have begun preliminary merger discussions, the two banks said in December in a deal that could potentially create a combined bank holding $183 billion in assets.Riyad Bank di...
Tags: Travel, Saudi Arabia, Goldman Sachs, Goldman, Reuters, Riyad Bank, NCB, Rupert Neil Bumfrey, National Commercial Bank, Goldman Sachs GS N


Citigroup's Azevedo Is Optimistic for IPOS in #SaudiArabia in 2019 – Bloomberg

Citigroup's Azevedo Is Optimistic for IPOS in Saudi Arabia in 2019 – Bloomberg:Miguel Azevedo, head of investment banking for Middle East and Africa at Citigroup, discusses Saudi Arabia's IPO landscape, what's delaying listings for many companies, how equity and oil markets impact listings and where he's finding opportunities. He speaks on "Bloomberg Daybreak: Middle East." (Source: Bloomberg) [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Saudi Arabia, Africa, Bloomberg, Middle East, Citigroup, Azevedo, Rupert Neil Bumfrey, Bloomberg Daybreak, Saudiarabia, Miguel Azevedo


Mideast Stocks: Saudi snaps winning streak as oil hurts most of Gulf | ZAWYA MENA Edition

Mideast Stocks: Saudi snaps winning streak as oil hurts most of Gulf | ZAWYA MENA Edition:Most major Gulf markets fell on Monday due to falling oil prices and mounting fears of a global slowdown after Chinese data showed weakening imports and exports, while Saudi Arabia dropped on weak petrochemical stocks, snapping a seven-day winning streak.Saudi Arabia's index edged down 0.1 percent, with top petrochemical producer Saudi Basic Industries dipping 0.8 percent and Yanbu National Petrochemicals l...
Tags: Travel, Saudi Arabia, Gulf, Mideast, Rupert Neil Bumfrey, Saudi Basic Industries, Yanbu National Petrochemicals


Saudis Say OPEC+ Oil Cuts Provided `Lifeline' to U.S. Shale - Bloomberg

Saudis Say OPEC+ Oil Cuts Provided `Lifeline' to U.S. Shale - Bloomberg:Saudi Arabia’s energy minister has no quarrels with U.S. shale and even sees output cuts by OPEC and its allies as directly aiding American drillers.“The action we have taken, quickly in December and that we’re seeing implemented as we speak, is a lifeline to U.S. shale producers,” Khalid Al-Falih said at a conference in Abu Dhabi.  The Organization of Petroleum Exporting Countries, led by Saudi Arabia, agreed to cut oil out...
Tags: Travel, Saudi Arabia, Opec, Abu Dhabi, Organization of Petroleum Exporting Countries, Khalid al Falih, Rupert Neil Bumfrey, Al Falih, Shale Bloomberg


Saudis Set for $11 Billion Asset-Sale Blitz After Slow Start - Bloomberg

Saudis Set for $11 Billion Asset-Sale Blitz After Slow Start - Bloomberg:Saudi Arabia could be in for a busy year of asset sales if the kingdom sticks to its plans. The government hopes to generate about $11 billion by 2020 through its privatization program that includes the sale of stakes in utilities, soccer clubs, flour mills and medical facilities. The sales are key to the country’s efforts to wean the economy off oil, but so far have been dogged by delays - most notably the IPO of oil giant...
Tags: Travel, Saudi Arabia, Bloomberg, PPP, Aramco, Rupert Neil Bumfrey, National Center for Privatization


#SaudiAramco's bond will probably be in 10 billion range: energy minister | Reuters

Saudi Aramco's bond will probably be in 10 billion range: energy minister | Reuters:Saudi Aramco will issue bonds which will probably be in the 10 billion range, Saudi Arabia’s energy minister said on Sunday.Khalid al-Falih, speaking at a conference in Abu Dhabi, did not specify the currency of the planned debt issuance but last week he said at an event in Riyadh that the bonds - which would be Aramco’s debut in the international debt markets - are likely to be denominated in U.S. dollars.The Sa...
Tags: Travel, Saudi Arabia, Abu Dhabi, Reuters, Riyadh, Aramco, Saudi Aramco, Khalid al Falih, Rupert Neil Bumfrey


Erdogan’s $2 Billion Reason to Thank the Saudis - Bloomberg

Erdogan’s $2 Billion Reason to Thank the Saudis - Bloomberg:There are opportunistic financing deals, and then there’s Turkey. A $2 billion 10-year bond sale appeared out of nowhere for the country on Wednesday, with no roadshow and no prior announcement. But there was one big helping hand.Saudi Arabia had just launched $7.5 billion of new 10- and 30-year notes and had elected for tighter pricing rather than raising a larger sum. This left a window for Turkey to present themselves to bond funds w...
Tags: Travel, Saudi Arabia, Turkey, Middle East, Erdogan, U S Treasury, Rupert Neil Bumfrey


Oil Set for Biggest Weekly Gain in Two Years as Rebound Persists - Bloomberg

Oil Set for Biggest Weekly Gain in Two Years as Rebound Persists - Bloomberg:Oil headed for its biggest weekly gain in over two years on hopes that OPEC will manage to shrink a glut and trade tensions between the U.S. and China will ease.Futures in New York have advanced 10 percent this week, as Saudi Arabia pledged that a producer coalition it’s leading will keep the market in balance. Still, prices are about 30 percent lower than their highs in October even after a rebound since Christmas Eve ...
Tags: Travel, New York, Saudi Arabia, China, Russia, Opec, Organization of Petroleum Exporting Countries, Rupert Neil Bumfrey


Asian Investors Seek Harbor in Gulf Arab Bonds Amid Trade Storm - Bloomberg

Asian Investors Seek Harbor in Gulf Arab Bonds Amid Trade Storm - Bloomberg:Highly rated dollar bonds from the Middle East are emerging as a refuge for Asian bond investors as they brace for the impact of U.S. sanctions in other regions and the trade row with China.UOB Asset Management Ltd. and Bank of Singapore Ltd. have turned overweight on Gulf debt over the past year, arguing that the region is less exposed to international trade risks. Investors had sold off Gulf bonds because of falling oi...
Tags: Travel, Saudi Arabia, Qatar, Middle East, Gulf, Gulf Cooperation Council, Rupert Neil Bumfrey, Bloomberg Barclays, China UOB Asset Management Ltd, Bank of Singapore Ltd


Saudis Lure Investors to $7.5 Billion Debt After Khashoggi - Bloomberg

Saudis Lure Investors to $7.5 Billion Debt After Khashoggi - Bloomberg:Saudi Arabia sold $7.5 billion of international bonds on Wednesday in the first test of how much damage the brutal killing of Washington Post columnist Jamal Khashoggi has inflicted on investor appetite.Only three months have passed since global investors — along with some of the banks managing the deal — skipped a major economic forum in Riyadh amid broad condemnation over the murder, which some blame on Crown Prince Mohamme...
Tags: Travel, London, Washington Post, Saudi Arabia, Riyadh, Mohammed bin Salman, Rupert Neil Bumfrey, Tim Ash, Jamal Khashoggi, Khashoggi Bloomberg, BlueBay Asset Management LLC



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