Posts filtered by tags: Arqaam Capital[x]


 

Mideast Stocks Head Warily Into May After April Gains: Inside EM - Bloomberg

Mideast Stocks Head Warily Into May After April Gains: Inside EM - Bloomberg Middle East stock markets were mixed as investors looked for direction on the first trading day of the month following gains in April.The main indexes in Kuwait, Oman and Dubai each rose 0.7% on Sunday, while the gauge in Abu Dhabi added 0.5%. Saudi Arabia’s Tadawul All Share Index led losses with a 0.5% retreat. Qatari and Israeli markets were little changed. Trading in Bahrain and Egypt was closed for holidays.Thoug...
Tags: Travel, Saudi Arabia, Opec, Qatar, Bloomberg, Egypt, Dubai, Abu Dhabi, Bahrain, Gulf, Riyadh, Mohammed bin Salman, Rupert Neil Bumfrey, Dubai Islamic Bank, Al Rajhi, Jabal Omar Development


Middle East Stocks: Jordanian Shares Slip, Bucking Gains in Mideast Peers - Bloomberg

Stocks in Jordan snapped a three-day advance, bucking gains in most Middle East markets, after several arrests were made following what may have been an attempt to destabilize the current government.The Amman Stock Exchange General Index fell as much as 0.6% Sunday, reversing an increase of 0.5% last week. Jordan Petroleum Refinery Co. and Jordan Phosphate Mines fell more than 1%, dragging the index down the most.Over the weekend, Hasan Bin Zeid, a member of the Jordanian royal family, was held ...
Tags: Travel, Saudi Arabia, Opec, Morocco, Middle East, Oman, Jordan, Kuwait, Saudi Aramco, Bloomberg Television, Abdullah, SABIC, Bloomberg Intelligence, Rupert Neil Bumfrey, Saudi Telecom, Arqaam Capital


Arqaam Capital's Meijer on the #UAE's Citizenship Plan for Foreigners, 2020 Bank Earnings - Bloomberg

Arqaam Capital's Meijer on the UAE's Citizenship Plan for Foreigners, 2020 Bank Earnings - Bloomberg Jaap Meijer, Head of Equity Research at Arqaam Capital, discusses the United Arab Emirates' plans to open citizenship to select foreigners to boost growth and UAE 2020 bank earnings. He speaks with Manus Cranny and Yousef Gamal El-Din on "Bloomberg Daybreak: Middle East." (Source: Bloomberg) [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Bloomberg, United Arab Emirates, Uae, Meijer, Rupert Neil Bumfrey, Arqaam Capital, Bloomberg Daybreak, Yousef Gamal El Din, Bank Earnings Bloomberg, Bloomberg Jaap Meijer Head of Equity Research


#Dubai Stocks Lead Mideast Selloff Amid Travel Curbs: Inside EM - Bloomberg

Dubai Stocks Lead Mideast Selloff Amid Travel Curbs: Inside EM - Bloomberg Most Middle East stocks fell, with shares in Dubai leading losses, as increased travel restrictions added to pessimism over vaccine rollouts sweeping global equity markets.Dubai and Abu Dhabi’s gauges dropped 1.3% and 0.6%, respectively, as of noon local time. Saudi Arabia’s main index retreated 0.6% as Saudi Basic Industries Corporation fell as much as 1% even after 2020 profit beat estimates. Qatari stocks declined 0.5%...
Tags: Travel, Saudi Arabia, Global, Bloomberg, South Africa, Middle East, United Arab Emirates, Dubai, Abu Dhabi, Uae, Gulf, Bloomberg Television, Rupert Neil Bumfrey, Arqaam Capital, Jaap Meijer, Saudi Basic Industries Corporation


Bahrain Plans to Sell Dollar Bonds to Plug Budget Deficit - Bloomberg

Bahrain Plans to Sell Dollar Bonds to Plug Budget Deficit - Bloomberg Bahrain started marketing a three-tranche dollar bond to help plug one of the widest deficits in the region.The Gulf Arab kingdom is selling benchmark-size seven-year debt, 12-year securities and/or notes maturing in 30 years, according to a person familiar with the matter, who’s not authorized to speak publicly and asked not to be identified. Benchmark typically means the equivalent of at least $500 million.Despite a $10 bill...
Tags: Travel, Bloomberg, Dubai, International Monetary Fund, Bahrain, Rupert Neil Bumfrey, Arqaam Capital, Abdul Kadir Hussain, Plug Budget Deficit Bloomberg Bahrain


Biggest #Dubai Bank More Than Doubles Provisions; Profit Dips - Bloomberg

Biggest Dubai Bank More Than Doubles Provisions; Profit Dips - Bloomberg:  Emirates NBD PJSC braced for credit losses by more than doubling the amount of money set aside in provisions amid the coronavirus pandemic as it reported a 55% slump in its nine-month profit.  Dubai’s biggest bank increased impairment allowances more than anticipated by some analysts, bringing the total to 6.4 billion dirhams ($1.7 billion), according to a statement on Tuesday. Profit dropped to 5.6 billion dirhams on hi...
Tags: Travel, Dubai, Gulf, Emirates NBD, Rupert Neil Bumfrey, Network International, Arqaam Capital, Jaap Meijer, Network International Holdings Plc, Biggest Dubai Bank More Than Doubles Provisions, Profit Dips Bloomberg


#Qatar in 'Strong Position' From Credit Perspective: Arqaam Capital - Bloomberg

Qatar in 'Strong Position' From Credit Perspective: Arqaam Capital - Bloomberg: Abdul Kadir Hussain, the head of fixed-income asset management at Arqaam Capital in Dubai, discusses the outlook for emerging-market credit and the opportunities he sees. He speaks with Yousef Gamal El-Din on "Bloomberg Daybreak: Middle East." (Source: Bloomberg) [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Qatar, Bloomberg, Dubai, Rupert Neil Bumfrey, Arqaam Capital, Bloomberg Daybreak, Abdul Kadir Hussain, Yousef Gamal El Din, Arqaam Capital Bloomberg


#UAE, #Dubai News: Burj Khalifa Builder Arabtec Set To Fall Into Liquidation - Bloomberg

UAE, Dubai News: Burj Khalifa Builder Arabtec Set To Fall Into Liquidation - Bloomberg: The Burj Khalifa skyscraper, center.   Photographer: Christopher Pike/Bloomberg Shareholders of United Arab Emirates-based Arabtec Holding PJSC voted to dissolve the debt-laden construction firm, in a move that is likely to impact thousands of jobs as well as scores of suppliers and sub-contractors in the region.Construction companies that sprung up more than a decade ago as a building bonanz...
Tags: Travel, Bloomberg, United Arab Emirates, Dubai, Group, Burj Khalifa, Gulf, Bloomberg Television, Rupert Neil Bumfrey, Arqaam Capital, Jaap Meijer, Arabtec Holding, Arabtec Holding PJSC, UAE Dubai News


#Kuwait Finance House's Q2 profit down 77.5% hit by lockdown | ZAWYA MENA Edition

Kuwait Finance House's Q2 profit down 77.5% hit by lockdown | ZAWYA MENA Edition:Kuwait Finance House on Thursday posted a 77.5% decline in second-quarter profit after it boosted impairment charges and precautionary provisioning for bad loans, as the economy was hit by a lockdown.Net profit fell to 12.6 million dinars ($41.28 million) for the quarter to June 30, down from 56.1 million a year earlier.Analysts at Arqaam Capital had expected a net profit of 29.1 million while EFG Hermes analysts ha...
Tags: Travel, Gulf, Moody, Kuwait Finance House, EFG Hermes, Rupert Neil Bumfrey, Arqaam Capital


Middle Eastern Markets Climb With Oil, Stimulus Eyed: Inside EM - Bloomberg

Middle Eastern Markets Climb With Oil, Stimulus Eyed: Inside EM - Bloomberg:Stocks across the Middle East advanced, taking their cue from Friday’s rally in oil prices and amid further signs that governments are ready to do more to stimulate their virus-battered economies.Israel’s TA-35 rose as much as 1.1% in Tel Aviv, heading for the first increase in four sessions. The government said after markets closed Thursday that unemployment benefits will remain in place through June 2021 while the jobl...
Tags: Travel, Israel, Tel Aviv, Bloomberg, Middle East, Dubai, Rupert Neil Bumfrey, Arqaam Capital, Jaap Meijer, Global Ratings


#Saudi Credit Remains Strong: Arqaam Capital’s Rizk - Bloomberg

Saudi Credit Remains Strong: Arqaam Capital’s Rizk - Bloomberg:Zeina Rizk, executive director of fixed income at Arqaam Capital Ltd., discusses Saudi Arabia’s net foreign assets and her outlook for the economy. She speaks on “Bloomberg Daybreak: Middle East.” (Source: Bloomberg) [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Saudi Arabia, Bloomberg, Middle East, Rupert Neil Bumfrey, Arqaam Capital, Bloomberg Daybreak, Arqaam Capital Ltd, Zeina Rizk, Rizk Bloomberg


Bond Market Devouring Record Gulf Debt Won’t Touch #Oman, #Bahrain - Bloomberg

Bond Market Devouring Record Gulf Debt Won’t Touch Oman, Bahrain - Bloomberg:Oman and Bahrain are stuck on the sidelines of the international debt markets after a record borrowing tally by Gulf Arab economies this month underscored a divide between the region’s strongest and weakest sovereigns.Facing external financing needs that Goldman Sachs Group Inc. estimates at $5.5 billion this year, Oman and Bahrain are all but shut out from bond funding, waiting for their yields to retreat before wading...
Tags: Travel, Dubai, Oman, Bahrain, Gulf, Goldman Sachs Group Inc, Rupert Neil Bumfrey, Arqaam Capital, Abdul Kadir Hussain, Touch Oman Bahrain Bloomberg, Oman Bahrain Bloomberg


Saudi Arabia’s Economy Can Ill Afford Oil-Price War It Began

(Bloomberg) -- Saudi Arabia’s Crown Prince Mohammed bin Salman has just started an oil-price war. Winning it will come at a cost he might not be ready to pay for long.If oil prices fail to recover and stay at less than half the level Saudi Arabia needs to balance its budget, the economy -- and the crown prince’s big ambitions to reform it -- may be among the biggest victims. The energy sector accounts for about 80% of the kingdom’s exports and two-thirds of its fiscal revenue.Should Brent crude ...
Tags: News, Saudi Arabia, Russia, Opec, Bloomberg, Middle East, Dubai, London School Of Economics, Gulf, Saudi Aramco, Mohammed bin Salman, Malik, Steffen Hertog, Abu Dhabi Commercial Bank, Monica Malik, Arqaam Capital


Saudi Arabia’s Economy Can Ill Afford Oil-Price War It Started

(Bloomberg) -- Saudi Arabia’s Crown Prince Mohammed bin Salman has just started an oil-price war. Winning it will come at a cost he might not be ready to pay for long.If oil prices fail to recover and stay at less than half the level Saudi Arabia needs to balance its budget, the economy -- and the crown prince’s big ambitions to reform it -- may be among the biggest victims. The energy sector accounts for about 80% of the kingdom’s exports and two-thirds of its fiscal revenue.Should Brent crude ...
Tags: News, Saudi Arabia, Russia, Opec, Bloomberg, Middle East, Dubai, London School Of Economics, Gulf, Saudi Aramco, Mohammed bin Salman, Malik, Steffen Hertog, Abu Dhabi Commercial Bank, Monica Malik, Arqaam Capital


#Lebanon Debt-Default Latest News: Eurobond Payment Risk - Bloomberg

Lebanon Debt-Default Latest News: Eurobond Payment Risk - Bloomberg:Lebanon is about to enter the crucial first phase of talks aimed at renegotiating its $30 billion in Eurobonds after saying at the weekend it won’t pay dollar debt coming due on Monday.The government’s declaration on Saturday that it won’t repay the $1.2 billion Eurobond puts the country on course for the first default in its history as it copes with dwindling foreign-currency reserves and inflation running in double digits. Tal...
Tags: Travel, Bloomberg, Dubai, Lebanon, Hezbollah, Rupert Neil Bumfrey, Arqaam Capital, Abdul Kadir Hussain


Credit risk rises for Gulf crude exporters on virus fears - Reuters

Credit risk rises for Gulf crude exporters on virus fears - Reuters:The cost of insuring against sovereign debt defaults by Gulf Arab states has risen in recent days as markets price the risk the coronavirus outbreak represents for the crude export-dependent region.Conventional spreads on the five-year credit default swaps (CDS) of Bahrain and Oman were up four and seven basis points respectively on Tuesday compared to their close last week, according to IHS Markit, while those for Saudi Arabia ...
Tags: Travel, Saudi Arabia, Dubai, Oman, Bahrain, Gulf, Reuters, Gulf Arab, Rupert Neil Bumfrey, IHS Markit, Arqaam Capital, Zeina Rizk


What next for #Dubai's troubled satellite broadcaster OSN? - Arabianbusiness

What next for Dubai's troubled satellite broadcaster OSN? - Arabianbusiness:When millions of fans across the Middle East tuned in to watch the last ever episode of HBO’s blood-spattered, dragon-filled fantasy show Game of Thrones in May last year, little did they know the platform on which they streamed the drama series was struggling with its own existential crisis.Unlike the world’s most profitable TV show of all-time, the MENA platform Wavo, which viewers used to stream the Game of Thrones, i...
Tags: Travel, Hbo, US, Middle East, Dubai, Mena, Rupert Neil Bumfrey, Orbit Showtime Network OSN, Arqaam Capital, KIPCO, Panther Media Group, Kuwaiti Projects Company KIPCO, Mawarid Group Limited OSN


#Dubai's MashreqBank reports quarterly profit slide as impairments surge - Reuters

Dubai's MashreqBank reports quarterly profit slide as impairments surge - Reuters:Dubai’s Mashreqbank posted a 1.4% decline in fourth-quarter profit on Monday as impairment charges rose 29%, offsetting a double-digit rise in net interest income and income from Islamic financing.Banks in the United Arab Emirates have reported a sharp spike in bad debt charges in the fourth quarter, as they navigate a sluggish economy and a property downturn in Dubai that has hit contractors.MashreqBank’s bigger r...
Tags: Travel, United Arab Emirates, Dubai, Reuters, Emirates NBD, Rupert Neil Bumfrey, Arqaam Capital, Mashreqbank


Aramco shares dip slightly ahead of MSCI inclusion - Reuters

:Saudi Aramco shares closed down 0.66% at 37.75 riyals ($10.07) on Tuesday, Refinitiv data showed, ahead of their inclusion into the MSCI emerging markets index, which will be effective on Wednesday.Its entry into the index will be based on Tuesday’s closing price, which puts the oil company’s market value slightly above $2 trillion - the price tag long sought by Crown Prince Mohammed bin Salman. Aramco’s shares will also join the Tadawul index on Wednesday and global benchmark FTSE on Thursday,...
Tags: Travel, Dubai, Ftse, Reuters, Aramco, Saudi Aramco, Tadawul, MSCI, Rupert Neil Bumfrey, Arqaam Capital, Mohammed bin Salman Aramco


MIDEAST STOCKS-FAB drags down #AbuDhabi; other mkts steady - Reuters

MIDEAST STOCKS-FAB drags down Abu Dhabi; other mkts steady - Reuters:Abu Dhabi's stock market fell sharply onSunday, weighed down by the country's largest lender First AbuDhabi Bank, while other Gulf markets were mostly flat.In Abu Dhabi, the index slid 1.5%, its biggest fallsince August, as First Abu Dhabi Bank (FAB) retreated2.4%, while telecoms firm Emirates Telecommunications was down 1.2%.Among other stocks, Aldar Properties declined2.7%, extending losses for a fourth straight session.The p...
Tags: Travel, Abu Dhabi, Gulf, Reuters, EFG Hermes, Rupert Neil Bumfrey, Arqaam Capital, First Abu Dhabi Bank, First AbuDhabi Bank, Emirates Telecommunications


BUZZ: First Abu Dhabi Bank sees worst day in nearly a decade | ZAWYA MENA Edition

BUZZ: First Abu Dhabi Bank sees worst day in nearly a decade | ZAWYA MENA Edition:First Abu Dhabi Bank (FAB) plunged 9.4%, to its biggest intraday loss since November 2009, after MSCI decided to maintain bank's weight in the index despite foreign ownership limit hike.FAB's losses have been further exaggerated by volatile markets amid U.S.-China trade tensions and rise in Middle East tensions. MSCI will maintain FAB's foreign inclusion factor at 25% in its international indexes, despite recent fo...
Tags: Travel, China, Middle East, MSCI, Rupert Neil Bumfrey, Arqaam Capital, First Abu Dhabi Bank, First Abu Dhabi Bank FAB


DXB Entertainments reports wider first quarter earnings loss | ZAWYA MENA Edition

DXB Entertainments reports wider first quarter earnings loss | ZAWYA MENA Edition:DXB Entertainments, the owner of the group of theme-parks Dubai Parks and Resorts, announced an increase in its first quarter (Q1) loss for 2019.The company’s Q1 2019 net loss amounted to 215.71 million UAE dirhams ($58.73 million), compared to 210.42 million dirhams in Q1 2018.Mohamad Haidar, associate director at Arqaam Capital, told Zawya by email that the wider net loss could be attributed to a drop in revenues...
Tags: Travel, Rupert Neil Bumfrey, Dubai Parks, Arqaam Capital, Zawya, Mohamad Haidar


Why Foreigners Will Buy #Saudi Stocks, Like It or Not- Bloomberg

Saudi Arabia: Khashoggi Killing Can't Stop Foreign Investment - Bloomberg:Four years after Saudi Arabia first let foreigners into its stock market, many overseas investors will soon have little choice. That’s because MSCI Inc., the U.S.-based index compiler, is about to classify the kingdom as an emerging market, meaning some global funds will have to adjust portfolios to include Saudi equities. The biggest market in the Arab world comes with caveats, including lofty valuations, a sputtering eco...
Tags: Travel, Saudi Arabia, EFG Hermes, Rupert Neil Bumfrey, MSCI Inc, Arqaam Capital, Mohamad Al Hajj, Not Bloomberg


#UAE Investment Banks Arqaam and TNI Are Said to Weigh Merger - Bloomberg

U.A.E. Investment Banks Arqaam and TNI Are Said to Weigh Merger - Bloomberg:Dubai-based Arqaam Capital Ltd. and Abu Dhabi’s The National Investor are weighing a possible merger, according to people with knowledge of the matter.The investment banks are in talks about a combination that would create an entity with an equity value of about $250 million, according to one of the people, who asked not to be identified because the matter is private. Arqaam would have management control of the merged ba...
Tags: Travel, Dubai, Abu Dhabi, Rupert Neil Bumfrey, Arqaam Capital, Arqaam Capital Ltd, UAE Investment Banks Arqaam, Weigh Merger Bloomberg


MIDEAST STOCKS- #AbuDhabi slips further, banks support #Saudi market | Reuters

MIDEAST STOCKS-Abu Dhabi slips further, banks support Saudi market | Reuters:Stock markets in the Gulf were mixed on Sunday with Abu Dhabi experiencing losses after some shares traded ex-dividend last week, while the Saudi market was lifted by the banking sector.The Saudi index added 0.4 percent, with Al Rajhi Banking & Investment Corporation up 1.7 percent and registering the highest trading volume on Sunday.In a research note, Dubai-based Arqaam Capital said it expects credit growth to strengt...
Tags: Travel, Saudi Arabia, Dubai, Abu Dhabi, Gulf, Reuters, Rupert Neil Bumfrey, Arqaam Capital, Al Rajhi Banking Investment Corporation


MIDEAST STOCKS-Aramex lifts #Dubai, #Saudi rises on banks | Reuters

MIDEAST STOCKS-Aramex lifts Dubai, Saudi rises on banks | Reuters:Dubai’s stock market rose on Wednesday, supported by a jump in courier firm Aramex, while Saudi Arabia also gained as most of its banks traded higher amid rising oil prices.In Dubai, the index was up 0.5 percent, with Aramex climbing 7.3 percent in active trade. Australia Post Transaction Services sold its 10 percent stake in the firm for 602.6 million dirhams ($164.1 million).That opened up the possibility for a new foreign inves...
Tags: Travel, Saudi Arabia, Dubai, Reuters, Aramex, Rupert Neil Bumfrey, Arqaam Capital, Australia Post Transaction Services


Al Tayyar Sharpens Travel Focus as Talk of Uber Deal Lifts Stock - Bloomberg

Al Tayyar Sharpens Travel Focus as Talk of Uber Deal Lifts Stock - Bloomberg:Al Tayyar Travel Group Holding will focus on expanding its online businesses as the Saudi Arabian tourism operator seeks to diversify revenue sources.The company has been focusing on finding new revenue and profit streams since the end of a major government contract to provide travel services for Saudi students last year, which alone was responsible for nearly a third of total bookings.The travel group’s stock extended ...
Tags: Travel, Bloomberg, Dubai, Careem, Bloomberg News, Uber Technologies Inc, Saudi Arabian, Al Tayyar, Rupert Neil Bumfrey, Arqaam Capital, Careem Networks FZ, Al Tayyar Sharpens Travel Focus, Al Tayyar Travel Group Holding


MIDEAST STOCKS-UAE property developers’ earnings give Gulf markets a boost | Reuters

MIDEAST STOCKS-UAE property developers’ earnings give Gulf markets a boost | Reuters:Most stock markets in the Middle East closed higher on Sunday, reflecting a rally in global stock markets on Friday, and were also boosted by better-than-expected company results, particularly in real estate.The Abu Dhabi index gained 0.7 percent and the Dubai index 0.6 percent, as two of the largest property developers in the United Arab Emirates posted positive fourth-quarter financial results last week that b...
Tags: Travel, Middle East, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Rupert Neil Bumfrey, Arqaam Capital


Cash-Strapped Oman May Be Next Blowout After Bahrain Crisis - Bloomberg

Cash-Strapped Oman May Be Next Blowout After Bahrain Crisis - Bloomberg:Bond investors rattled by Bahrain’s fiscal woes last year are bracing for the next potential crisis in the Gulf region: Oman.The cash-strapped sultanate has been slow to implement reforms following the crash in oil prices in 2014 and is seeking to tap the debt market for a fourth year. Its budget deficit is among the largest of all the sovereigns tracked by Fitch Ratings, which downgraded its debt to junk in December. Concer...
Tags: Travel, Dubai, Oman, Bahrain, Gulf, Fitch Ratings, Rupert Neil Bumfrey, Arqaam Capital, Abdul Kadir Hussain


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