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As tensions ease, Turkey says talks to #UAE on energy investment | Reuters

As tensions ease, Turkey says talks to UAE on energy investment | Reuters Turkey is in talks with the United Arab Emirates over investment in its energy sector, Turkey's deputy energy minister said on Tuesday, after the sides called a truce on their bitter rivalry.After contacts between intelligence and government officials eased tensions, the UAE this month said it was seeking deeper trade and economic ties with Turkey and seven other countries as it looks to defend its global business hub st...
Tags: Travel, Turkey, United Arab Emirates, Dubai, Uae, Reuters, Suhail Al Mazrouei, Reuters Turkey, Rupert Neil Bumfrey, Bayraktar, Alparslan Bayraktar


Low gas prices were not sustainable, #UAE minister says | Reuters

Low gas prices were not sustainable, UAE minister says | Reuters The United Arab Emirates' energy minister said on Tuesday low gas prices were not sustainable and a recent hike reflected market fundamentals and a lack of investment in the sector."Gas prices were not sustainable (at) $2 or $3. New investments need to be there. I'm afraid it is not going to be magical. ..prices will go through ups and downs until the market realises the right price. The market will drive the price," Minister Suh...
Tags: Travel, Europe, United States, United Arab Emirates, Dubai, Uae, Reuters, Suhail Al Mazrouei, Rupert Neil Bumfrey


#Dubai Airports Sees Doubling of Visitors in 2022 as Curbs Ease - Bloomberg video

Dubai Airports Sees Doubling of Visitors in 2022 as Curbs Ease - Bloomberg Dubai’s airports chief says the number of international visitors may more than double next year as the easing of Covid-19 restrictions boosts travel through one of the world’s busiest hubs.“We’re going to see a very sharp up-tick,” Dubai Airports Chief Executive Paul Griffiths said on Bloomberg Television on Tuesday. The lifting of curbs between Dubai and countries such as the U.K., U.S. and Saudi Arabia will have a “...
Tags: Travel, London, Saudi Arabia, Israel, Bloomberg, Britain, Middle East, United Arab Emirates, Dubai, Uae, Gulf, Griffiths, Bloomberg Television, Dubai International Airport, Paul Griffiths, Rupert Neil Bumfrey


Most Gulf bourses fall in line with weaker oil, Asian stocks | Reuters

Most Gulf bourses fall in line with weaker oil, Asian stocks | Reuters Most stock markets in the Gulf region fell in early trade on Monday, mirroring weakness in Asian shares and oil prices, with Dubai leading declines.Asian shares skidded ahead of a week packed with global central bank meetings, with Evergrande’s troubles adding to growing concerns about the health of China’s economy after Beijing’s recent crackdown on tech firms had haunted the region.Oil prices extended losses from the prev...
Tags: Travel, Saudi Arabia, China, ExxonMobil, Beijing, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Emaar Properties, Evergrande, U S Gulf Coast, Qatar Islamic Bank, Rupert Neil Bumfrey, Al Rajhi Bank


Dubai’s Emirates to Increase U.S. Flights as Restrictions Ease - Bloomberg

Dubai’s Emirates to Increase U.S. Flights as Restrictions Ease - Bloomberg Emirates plans to ramp up flights to the United States as travel restrictions ease further and ahead of the World Expo event in Dubai that’s expected to draw millions of visitors. The airline will increase flights to a number of U.S. destinations from October and aims to restore more than 90% of its pre-Covid frequencies to the country by early December. The U.S. this month lowered its travel warning for the United Arab...
Tags: Travel, United States, United Arab Emirates, Dubai, Uae, Rupert Neil Bumfrey, Dubai hub


#UAE economy minister to visit Britain seeking trade deal | Reuters

UAE economy minister to visit Britain seeking trade deal | Reuters The United Arab Emirates' economy minister will lead a high-level delegation to Britain this week, the ministry said on Sunday, as the Gulf state seeks to deepen trade ties.Abdulla Bin Touq Al Marri and the delegation will meet British ministers, officials and representatives from the private sector to discuss recently announced UAE economic policies.One of those policies includes the UAE seeking to seal what it calls a compreh...
Tags: Travel, Europe, UK, Britain, United Arab Emirates, Uae, Gulf, Reuters, Rupert Neil Bumfrey, Abdulla Bin Touq Al Marri


MIDEAST STOCKS Major Gulf bourses end mixed; #AbuDhabi off record high | Reuters

MIDEAST STOCKS Major Gulf bourses end mixed; Abu Dhabi off record high | Reuters Major stock markets in the Gulf ended mixed on Sunday, with the Abu Dhabi index retreating from the previous session's record highs.GCC markets evolved in different directions as doubts around oil market developments and international economic growth contrasted with strong local fundamentals, said Wael Makarem, senior market strategist at Exness.On Friday, world shares fell after a week of mixed economic data ...
Tags: Travel, Egypt, United Arab Emirates, Dubai, Abu Dhabi, MPC, Gulf, Reuters, U S Federal Reserve, Reuters Major, Tasi, Rupert Neil Bumfrey, QSI, Al Rajhi Bank, Gulf Egypt, U S Gulf of Mexico


#AbuDhabi's state holding firm ADQ hires more bankers as it steps up dealmaking | Reuters

Abu Dhabi's state holding firm ADQ hires more bankers as it steps up dealmaking | Reuters Abu Dhabi's $110 billion state holding company ADQ has hired scores of investment bankers from Western banks in the past year as it accelerates dealmaking in the United Arab Emirates and overseas, three sources familiar with the matter said.ADQ, the emirate's third-largest sovereign wealth fund, has hired bankers from mostly foreign banks and investment management firms in recent months, the sources said,...
Tags: Travel, Hsbc, United Arab Emirates, Abu Dhabi, Reuters, Reuters Abu Dhabi, ADNOC, Perella Weinberg Partners, Rupert Neil Bumfrey, Mubadala, Abhay Kumar, ADQ, Ayman Anwar, Hassan Abdelhamid


#UAE central bank sees COVID-19 increasing money-laundering risks | Reuters

UAE central bank sees COVID-19 increasing money-laundering risks | Reuters The United Arab Emirates central bank sees increased risks of illicit financial flows emerging from the COVID-19 pandemic, including money-laundering and terrorism financing, it said in a report published on Sunday.The use of unlicensed money service providers for money laundering has increased during the coronavirus crisis last year, the report said, as well as the use of e-commerce to launder money."Widespread lockdow...
Tags: Travel, Asia, Africa, United Arab Emirates, Uae, Reuters, Rupert Neil Bumfrey, COVID


MIDEAST STOCKS Most Gulf bourses ease in line with global stocks | Reuters

MIDEAST STOCKS Most Gulf bourses ease in line with global stocks | Reuters Most stock markets in the Gulf were subdued on Sunday in response to Friday's decline in global equities, although the Dubai index bucked the trend to trade higher.On Friday, World shares fell after a week of mixed economic data and fears over the stability of growth and Asian markets put the focus on the U.S. Federal Reserve's timeline for tapering asset purchases. read moreAlso, concerns grew that a potential U.S. cor...
Tags: Travel, UK, Saudi Arabia, Joe Biden, United Kingdom, United Arab Emirates, Dubai, Abu Dhabi, Uae, Gulf, Reuters, U S Federal Reserve, Adi, Qatar National Bank, Tasi, Rupert Neil Bumfrey


#UAE to give conglomerate favourable treatment after local hiring pledge | Reuters

UAE to give conglomerate favourable treatment after local hiring pledge | Reuters The United Arab Emirates will give favourable treatment to a locally-owned conglomerate after it pledged on Saturday to hire thousands of citizens, days after the government unveiled a $6.5 billion plan to get more Emiratis in private sector jobs.Prime Minister Sheikh Mohammed bin Rashid Al Maktoum on Twitter thanked shopping mall giant Majid Al Futtaim for its commitment and said it would be given priority in go...
Tags: Travel, United Arab Emirates, Uae, Reuters, Majid Al Futtaim, Sheikh Mohammed bin Rashid al Maktoum, Rupert Neil Bumfrey, Alain Bejjani


#UAE could invest further $1.4 bln in Britain this year, UK trade official says | Reuters

UAE could invest further $1.4 bln in Britain this year, UK trade official says | Reuters The United Arab Emirates could invest at least a further 1 billion pounds ($1.4 billion) in the United Kingdom this year after pledging 10 billion pounds this week to its investment partnership with the British government.The UK's Trade Commissioner to the Middle East, Simon Penney, told Reuters on Friday there was "line of sight" on a minimum of one billion pounds of transactions between now and the end o...
Tags: Travel, UK, Britain, United Kingdom, Middle East, United Arab Emirates, Abu Dhabi, Uae, Reuters, Penney, Rupert Neil Bumfrey, Mubadala, Simon Penney


MIDEAST STOCKS #AbuDhabi leads major Gulf bourses higher; Egypt falls | Reuters

Major stock markets in the Gulf reversed early losses to close higher on Thursday, with the Abu Dhabi index registering its eighth straight weekly gain.In Abu Dhabi, the index (.ADI) gained 0.8%, buoyed by a 2.5% rise in the country's largest lender First Abu Dhabi Bank (FAB.AD).The United Arab Emirates central bank is studying ways to replace the local interbank rate, Reuters reported citing three sources, as it tries to catch up with global regulators who have called time on such benchmark...
Tags: Travel, Egypt, Middle East, United Arab Emirates, Dubai, Abu Dhabi, Uae, Gulf, Reuters, Tasi, Rupert Neil Bumfrey, Industries Qatar, Al Rajhi Bank, Gulf Egypt, First Abu Dhabi Bank, Emirates NBD Bank ENBD


EXCLUSIVE #UAE central bank working to replace interbank rates - sources | Reuters

EXCLUSIVE UAE central bank working to replace interbank rates - sources | Reuters The United Arab Emirates central bank is studying ways to replace the local interbank rate, three sources said, as it tries to catch up with global regulators who have called time on such benchmarks after banks' attempts to rig them.The UAE is looking at potential replacements for EIBOR - the Emirates Interbank Offered Rate which is used to price financial instruments in the Gulf’s top financial centre - and has ...
Tags: Travel, United Arab Emirates, Uae, Gulf, Reuters, Rupert Neil Bumfrey, London Interbank Offered Rate Libor, Emirates Interbank


#UAE to invest $14 bln in UK industries, sovereign wealth fund says | Reuters

UAE to invest $14 bln in UK industries, sovereign wealth fund says | Reuters Britain's Prime Minister Boris Johnson welcomes Abu Dhabi's Crown Prince Sheikh Mohammed bin Zayed al-Nahyan as he arrives in Downing Street, London, Britain, September 16, 2021. REUTERS/Hannah McKay The United Arab Emirates plans to invest 10 billion pounds ($13.8 billion) in Britain over the next five years, building on the two country's long-running business ties, an Abu Dhabi sovereign wealth fund s...
Tags: Travel, UK, London, Britain, United Arab Emirates, Boris Johnson, Abu Dhabi, Uae, Reuters, Reuters Britain, Mohammed bin Zayed Al Nahyan, Rupert Neil Bumfrey, Mubadala, Sheikh Mohammed bin Zayed al Nahyan, Downing Street London, Hannah McKay


MIDEAST STOCKS #Saudi, #UAE stocks gain after IEA's oil demand outlook | Reuters

MIDEAST STOCKS Saudi, UAE stocks gain after IEA's oil demand outlook | Reuters Stock markets in Saudi Arabia and the United Arab Emirates (UAE) closed higher on Wednesday, a day after the International Energy Agency (IEA) forecast a positive oil demand.The IEA said on Tuesday that vaccine roll-outs were set to power a rebound in oil demand after a three-month slide due to the spread of the Delta variant of COVID-19 and pandemic restrictions, especially in Asia. read moreSaudi Arabia's benc...
Tags: Travel, Asia, Saudi Arabia, Egypt, United Arab Emirates, Dubai, IEA, Abu Dhabi, Chemical, Uae, Gulf, Reuters, Emirates NBD, International Energy Agency IEA, United Arab Emirates UAE, Tasi


#UAE ‘Hopes’ to Exceed 4% Growth in 2021, Economy Minister Says - Bloomberg

UAE ‘Hopes’ to Exceed 4% Growth in 2021, Economy Minister Says - Bloomberg The United Arab Emirates is hoping to exceed 4% growth in 2021, the country’s economy minister said, a higher rate of growth than previously forecast. Abdulla bin Touq Al Marri, United Arab Emirates’s Economy Minister, speaks with Yousef Gamal El-Din and Manus Cranny on "Bloomberg Daybreak: Middle East." (Source: Bloomberg) [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Bloomberg, United Arab Emirates, Rupert Neil Bumfrey, Abdulla, Bloomberg Daybreak, Yousef Gamal El Din, Touq Al Marri United Arab Emirates


SoftBank Makes First #Saudi Deal Together With Wealth Fund’s Unit - Bloomberg

SoftBank Makes First Saudi Deal Together With Wealth Fund’s Unit - Bloomberg SoftBank Group Corp. has made its first investment in a company based in Saudi Arabia, partnering with a unit of the kingdom’s sovereign wealth fund to lead a $125 million financing for customer communication platform Unifonic.Proceeds will be used to fund growth in the Middle East and expansion into Asia and Africa, Unifonic co-founder and Chief Executive Officer Ahmed Hamdan said in an interview. The company will al...
Tags: Travel, Asia, Saudi Arabia, Softbank, Bloomberg, Middle East, United Arab Emirates, Dubai, Rupert Neil Bumfrey, Ahmed Hamdan, Bloomberg SoftBank Group Corp, Africa Unifonic, Trendyol SoftBank


MIDEAST STOCKS Major Gulf stocks little changed in early trade, #Saudi shares inch up | Reuters

Major Gulf stock markets were little changed in early trade on Wednesday, with Saudi Arabian shares rising slightly as International Energy Agency (IEA)forecast a positive oil demand.Saudi Arabia's benchmark index (.TASI) was up 0.1%. Al Rajhi Bank (1120.SE) and Saudi Basic Industries (2010.SE) both gained 0.3%.Oil giant Saudi Aramco (2222.SE) was also up 0.3% after the IEA said vaccine roll-outs are set to power a rebound in oil demand. read more"Already signs are emerging of COVID cases abatin...
Tags: Travel, Saudi Arabia, Qatar, United Arab Emirates, Dubai, IEA, Abu Dhabi, Reuters, International Energy Agency IEA, Saudi Arabian, Tasi, Rupert Neil Bumfrey, Al Rajhi Bank, First Abu Dhabi Bank, Major Gulf, Emaar Properties EMAR DU


#UAE wants quick trade talks, some deals signed in 6-12 months | Reuters

UAE wants quick trade talks, some deals signed in 6-12 months | Reuters The United Arab Emirates will pursue an aggressive timetable to negotiate broad economic agreements with eight countries it wants to deepen trade ties with, hoping it can wrap up some of those talks within a year, its trade minister said on Tuesday.The Gulf state, already a hub for global trade, this month announced plans to strengthen trade and economic ties with India, the United Kingdom, Turkey and South Korea, among ot...
Tags: Travel, South Korea, United Arab Emirates, Uae, Gulf, Reuters, Rupert Neil Bumfrey, India the United Kingdom Turkey, Thani Al Zeyoudi


#UAE Eyes $1 Trillion Economic Activity With #Israel Over 10 Years - Bloomberg

UAE Eyes $1 Trillion Economic Activity With Israel Over 10 Years - Bloomberg The United Arab Emirates is seeking to grow economic ties with Israel to more than $1 trillion over the next decade, Economy Minister Abdulla Bin Touq said Monday, strengthening a year-old relationship that’s already produced billions of dollars worth of business.Those deals include Mubadala Investment Co.’s $1 billion purchase of Tel Aviv-listed Delek’s stake in an Israeli gas field, Bin Touq told a virtual conferenc...
Tags: Travel, Israel, Tel Aviv, Bloomberg, United Arab Emirates, Uae, Gulf, Delek, Rupert Neil Bumfrey, Mubadala Investment Co, Abdulla Bin Touq, Bin Touq


MIDEAST STOCKS Most Gulf markets dip in early trade; #Qatar gains | Reuters

MIDEAST STOCKS Most Gulf markets dip in early trade; Qatar gains | Reuters Most stock markets in the Gulf fell in early trade on Tuesday, on worries over inflation and moves to tax the world's biggest companies, with investors awaiting U.S. consumer inflation data.U.S. House Democrats are expected to propose raising the corporate tax rate to 26.5% from 21% as part of a sweeping plan that includes tax increases on the wealthy, corporations, and investors. read moreWorld stocks have been pressur...
Tags: Travel, Texas, Qatar, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Adi, U S House, Petroleum Exporting Countries OPEC, Tasi, Saudi Telecom Company, Rupert Neil Bumfrey, QSI, First Abu Dhabi Bank


#UAE central bank issues new anti-money laundering guidance for banks | Reuters

UAE central bank issues new anti-money laundering guidance for banks | Reuters The United Arab Emirates central bank has issued new guidelines to financial institutions on anti-money laundering practices, it said on Monday, the latest of a number of measures launched by the Gulf state to combat illicit financial flows.Banks will be required to develop internal procedures and put in place indicators to identify suspicious transactions and report them to the central bank's Financial Intelligence...
Tags: Travel, United Arab Emirates, Dubai, United Nations Security Council, Uae, Gulf, Reuters, Tax Justice Network, Financial Intelligence Unit, Rupert Neil Bumfrey


#AbuDhabi plans Mid East expansion for UK special schools provider | Financial Times

Abu Dhabi plans Mid East expansion for UK special schools provider | Financial Times Witherslack, one of the UK’s biggest providers of special needs education schools and children’s care homes, is set to expand in the Middle East after an Abu Dhabi sovereign wealth fund took a majority stake in the business.  Mubadala Capital, a subsidiary of Abu Dhabi’s second-largest sovereign wealth fund, late last month agreed to buy a controlling interest in Witherslack, which runs 18 speciali...
Tags: Travel, UK, Middle East, United Arab Emirates, Abu Dhabi, Mid East, Rupert Neil Bumfrey, Mubadala, Kuwait Saudi Arabia, Abudhabi, Mubadala Capital, Charme Capital Partners, | Financial Times, | Financial Times Witherslack, Witherslack, Lupton Cumbria


Senior Bankers Depart Biggest #AbuDhabi Lender During Deals Boom - Bloomberg

Senior Bankers Depart Biggest Abu Dhabi Lender During Deals Boom - Bloomberg The largest lender in the United Arab Emirates has lost at least eight senior bankers in recent months, despite winning mandates on several high-profile transactions across the Gulf.First Abu Dhabi Bank PJSC, half owned by sovereign wealth fund Mubadala Investment Co. and members of the emirate’s ruling family, has in recent years built up a profitable investment banking business and amassed total assets approaching 1...
Tags: Travel, Saudi Arabia, United Arab Emirates, ACWA Power, Rupert Neil Bumfrey, Mubadala Investment Co, Andy Cairns, Gulf First Abu Dhabi Bank PJSC, FAB Capital, Saudi Arabia Mona Al Tawil


Stocks in Mideast Decline on Growth Concerns: Inside EM - Bloomberg

Stocks in Mideast Decline on Growth Concerns: Inside EM - Bloomberg Saudi Arabian stocks led a decline in the Middle Eastern equities markets on Sunday triggered by concern over the strength of U.S. stock markets after the S&P 500 fell for five straight days. The extent of the drop was mitigated by gains in oil prices. MIDDLE EASTERN MARKETS: Tadawul All Share Index ended down 0.66% Traders focused on the IPO of Saudi Telecom Co.’s internet-services unit which closes for institutional inve...
Tags: Travel, Israel, Bloomberg, United Arab Emirates, Oman, Riyadh, Aramex, Perrigo Co, Tnuva, Eastern Co, Dubai Financial Market, Rupert Neil Bumfrey, Shuaa, Alseddiqi, Ahli United Bank, Dar Al Takaful


#UAE to Spend $6.5 Billion to Boost Private-Sector Jobs - Bloomberg

UAE to Spend $6.5 Billion to Boost Private-Sector Jobs - Bloomberg The United Arab Emirates will spend 24 billion dirhams ($6.5 billion) on a package of benefits and subsidies designed to reduce citizen unemployment by making private sector-jobs more attractive. As in much of the Gulf, the UAE government is the employer of choice, with many college graduates rebuffing offers from private companies while they wait for state jobs with better pay, benefits and working hours. Millions of foreigner...
Tags: Travel, United Arab Emirates, World Bank, Uae, Gulf, Rupert Neil Bumfrey, Boost Private Sector Jobs Bloomberg


MIDEAST STOCKS Major Gulf bourses in the red, #AbuDhabi index below record peak | Reuters

MIDEAST STOCKS Major Gulf bourses in the red, Abu Dhabi index below record peak | Reuters Major stock markets in the Gulf fell in early trade on Sunday in response to Friday's slide on Wall Street, with the Abu Dhabi index easing from the previous session's record highs.U.S. main stock indexes finished lower on Friday after data showing persistent U.S. inflation dampened optimism about an easing in U.S.-China tensions after a call between President Joe Biden and China's Xi Jinping. read moreSa...
Tags: Travel, China, Joe Biden, United Arab Emirates, World Health Organization, Abu Dhabi, Gulf, Reuters, Reuters Major, Tasi, Rupert Neil Bumfrey, QSI, Capital Market Authority, Al Rajhi Bank, First Abu Dhabi Bank, DFMGI


UAE to allocate $6.5 bln to create 75,000 private sector jobs for citizens - Twitter | Reuters

UAE to allocate $6.5 bln to create 75,000 private sector jobs for citizens - Twitter | Reuters The United Arab Emirates government will allocate 24 billion dirhams ($6.53 billion) to create 75,000 private sector jobs for citizens over the next five years, it said on Sunday on Twitter. [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Twitter, United Arab Emirates, Uae, Rupert Neil Bumfrey


Aramex confirms in talks to buy Turkish delivery company MNG Kargo | Reuters

Aramex confirms in talks to buy Turkish delivery company MNG Kargo | Reuters Dubai-listed Aramex (ARMX.DU), partly owned by Abu Dhabi state investor ADQ, said on Sunday it is in talks to buy Turkish delivery company MNG Kargo."We would like to confirm to the market and shareholders that the company has recently entered into discussions with the shareholders of MNG Kargo for a potential acquisition," it said in a bourse filing, confirming a Reuters story last week. read moreIn the Reuters story...
Tags: Travel, Turkey, United Arab Emirates, Abu Dhabi, Reuters, Aramex, Rupert Neil Bumfrey, Reuters Dubai, ADQ, MNG Kargo



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