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UPDATE 1-S&P cuts #Oman rating deeper into junk, trims Bahrain's outlook - Reuters

UPDATE 1-S&P cuts Oman rating deeper into junk, trims Bahrain's outlook - Reuters:Rating agency S&P has lowered crude producer Oman’s sovereign ratings deeper into junk territory, citing external challenges, and changed the outlook for Bahrain’s ratings to stable from positive due to the country’s dependence on oil revenue.The changes came after S&P recently cut its forecast the Brent crude oil benchmark to an average of $30 a barrel in 2020, $50 per barrel in 2021, and $55 a barrel from 2022.S&...
Tags: Travel, Oman, Bahrain, Reuters, Rupert Neil Bumfrey


Coronavirus: Brand Moves for Friday March 27

Beauty brand L’Oréal has offered its factories to produce hand sanitizer. The cosmetics giant’s brand La Roche-Posay will provide hydro-alcoholic gel to hospitals, nursing homes and main partnering pharmacies throughout Europe, while its other Garnier brand will dispense millions of units of the gel to all of its European clients in the food distribution channel. “In this exceptional crisis situation it is our responsibility to contribute in every possible way to the collective effort,” said Je...
Tags: Amazon, Spotify, Europe, Sweden, Microsoft, Cdc, Advertising, US, America, Getty Images, Fox, University, Elton John, Cbs, James Corden, Bahrain


Motorsport eSports schedule: Where to watch MotoGP and All-Star Battle motorsport events this weekend

The weekend brings with it British Summer Time as the clocks go forwards by an hour, though with coronavirus lockdown continuing across the nation it’s hard to pinpoint when exactly Friday ends and Saturday begins.Perhaps the best way to identify the weekend is the arrival of the latest batch of virtual eSport events, with another bumper schedule lined up to entertain us all from the comfort of our living rooms.Across the last two weeks, events such as The Race all-Star Battle and Veloce Esport’...
Tags: News, Sports, Ford, Le Mans, Bahrain, Indycar, Valentino Rossi, Jimmy Johnson, DTM, WEC, Pocono Raceway, Marc Marquez, YouTube Facebook, Watkins Glen, Mugello, Bruno Spengler


Virus Onslaught Deepens Gulf Disquiet Over Saudi Oil-Price War

(Bloomberg) -- Saudi Arabia’s oil-price war with fellow exporting giant Russia bewildered the kingdom’s Gulf allies, unexpectedly shattering their fiscal defenses just when they’re most needed to combat the coronavirus.The United Arab Emirates and Kuwait, along with smaller neighbors, want a return to talks among the OPEC+ cabal of oil powers but the central protagonists, including Crown Prince Mohammed bin Salman, are digging in.As the pandemic shuts down major chunks of the global economy, tha...
Tags: News, Congress, Washington Post, Washington, Saudi Arabia, White House, Iraq, Russia, Opec, Bloomberg, Iran, Vienna, Middle East, United Arab Emirates, Dubai, Moscow


Oil Shock Unmasks Fragile Mideast Trio With Bahrain Most Exposed - Bloomberg

Oil Shock Unmasks Fragile Mideast Trio With Bahrain Most Exposed - Bloomberg:The collapse in oil prices is exposing a divide between Arab energy producers, with Bahrain the most vulnerable to the shockwaves rippling through the market amid the coronavirus outbreak, according to Bloomberg Economics.Bahrain, Oman, Iraq, as well as Iran, are the weakest when measured by a set of five criteria ranging from international reserves and public debt to the price of oil needed to balance the current accou...
Tags: Travel, Qatar, Bloomberg, Iran, Middle East, Dubai, Bahrain, Kuwait, United Arab Emirates Saudi Arabia, Rupert Neil Bumfrey, Ziad Daoud Bloomberg, Bloomberg Economics Bahrain Oman Iraq


‘It’s Unprecedented’: COVID-19 Begins To Take A Toll On US Military

WASHINGTON (AP) — The coronavirus is taking a growing toll on the U.S. military, and commanders and senior officials are bracing for worse. From nuclear missile fields at home to war zones abroad, from flight lines to ships at sea, the Pentagon is striving to shield vital missions even as it faces urgent calls for help on the civilian front. Training exercises big and small, including one of the largest in Europe since the end of the Cold War, have been curtailed. Army recruiting stations have c...
Tags: South Korea, Europe, New York, News, Congress, Navy, Washington, China, Islamic State, Iraq, Defense, America, Los Angeles, Iran, Ap, Afghanistan


Gulf dollar bonds rally as global markets rebound - Reuters

Gulf dollar bonds rally as global markets rebound - Reuters:Gulf bonds posted further gains on Wednesday as global markets rebounded on news of a $2 trillion U.S. fiscal stimulus package.Saudi Arabia’s 30-year dollar bonds due in 2049 were up 8.5 cents, while similar bonds by its oil giant Aramco gained 6 cents, Refinitiv data showed.Similar bonds by Qatar also rose 6.4 cents. Abu Dhabi 30-year bonds due in 2047 were up 6 cents, while similar Bahrain bonds gained 2.6 cents. Oman 30-year bonds du...
Tags: Travel, Saudi Arabia, Qatar, Oman, Abu Dhabi, Bahrain, Reuters, Aramco, Rupert Neil Bumfrey


Bahrain's KHCB gets shareholder approval for delisting from #Dubai's DFM | ZAWYA MENA Edition

:Khaleeji Commercial Bank’s (KHCB) shareholders agreed to delist the bank’s shares from Dubai Financial Market (DFM), the Bahraini bank said in a statement.At their ordinary general meeting held on Wednesday 25 March, shareholders authorised the board to take all necessary procedures and requirements in this regard, subject to approval of the related regulatory authorities.Shareholders also approved the reduction in the bank’s issued and paid capital to 89.2 million Bahraini dinars ($235.8 milli...
Tags: Travel, Dubai, Bahrain, Dubai Financial Market DFM, Rupert Neil Bumfrey, DFM, Central Bank of Bahrain, KHCB, Khaleeji Commercial Bank


Coronavirus Cases Have Dropped Sharply In South Korea. What's Its Secret? (slashdot)

South Korea "has emerged as a sign of hope and a model to emulate," reported Nature earlier on Tuesday. "The country of 50 million appears to have greatly slowed its epidemic; it reported only 74 new cases today, down from 909 at its peak on 29 February." And it has done so without locking down entire cities or taking some of the other authoritarian measures that helped China bring its epidemic under control. "South Korea is a democratic republic, we feel a lockdown is not a reasonable choice," ...
Tags: South Korea, News, China, United States, United Kingdom, Kim, Bahrain, Reuters, U S Centers for Disease Control and Prevention, United States Canada, Ministry of the Interior, KCDC, EditorDavid, Raina MacIntyre, Kim Woo Joo, Korea University South Korea


Formula One goes virtual

Golfers, pop stars and Olympians all went head-to-head in the first Formula One race of the season as the inaugural Bahrain Grand Prix went virtual.
Tags: News, Stories, Bahrain


Formula One goes virtual as Bahrain Grand Prix kicks off the season

Golfers, pop stars and Olympians all went head-to-head in the first Formula One race of the season as the inaugural Bahrain Grand Prix went virtual.
Tags: Cnn, Bahrain


Coronavirus Cases Have Dropped Sharply In South Korea. What's Its Secret?

South Korea "has emerged as a sign of hope and a model to emulate," reported Nature earlier on Tuesday. "The country of 50 million appears to have greatly slowed its epidemic; it reported only 74 new cases today, down from 909 at its peak on 29 February." And it has done so without locking down entire cities or taking some of the other authoritarian measures that helped China bring its epidemic under control. "South Korea is a democratic republic, we feel a lockdown is not a reasonable choice," ...
Tags: South Korea, China, Tech, United States, United Kingdom, Kim, Bahrain, Reuters, U S Centers for Disease Control and Prevention, United States Canada, Ministry of the Interior, KCDC, Raina MacIntyre, Kim Woo Joo, Korea University South Korea, University of New South Wales Sydney Contact


Middle East stocks extend drop, despite new economic measures - Arabianbusiness

Middle East stocks extend drop, despite new economic measures - Arabianbusiness: Abu Dhabi’s ADX General Index loses 3.5% as of 11:50 a.m. local time First Abu Dhabi Bank -4.6%, Etisalat -4.7% Abu Dhabi Commercial Bank -3.9% Dubai’s DFM General Index retreats 1.8% Emirates NBD -4.8%; Emaar Properties -3.1%; DU -2% Saudi Arabia’s Tadawul All Share Index falls 1.5% Saudi Aramco -1.2%; STC -2%; Sabic -1.5% Exchanges in Kuwait, Oman and Bahrain are closed due to a local holiday [Author: no...
Tags: Travel, Saudi Arabia, Middle East, Dubai, Abu Dhabi, Bahrain, Saudi Aramco, Emirates NBD, SABIC, STC, Emaar Properties, Etisalat, Abu Dhabi Commercial Bank, Rupert Neil Bumfrey, First Abu Dhabi Bank, Kuwait Oman


Middle East Stock News, Coronavirus: MidEast Equities Amid Virus - Bloomberg

Middle East Stock News, Coronavirus: MidEast Equities Amid Virus - Bloomberg:Equity markets in the Middle East extended losses on Sunday despite regional governments trying to blunt the impact of coronavirus with economic stimulus measures.Abu Dhabi’s main gauge lost the most in the region, while shares in Dubai, Saudi Arabia, Qatar and Bahrain also fell. The losses came after oil tumbled on Friday on concern that the collapse of global energy demand will deepen.Over the weekend, Dubai’s ruler, ...
Tags: Travel, Saudi Arabia, Middle East, Dubai, Abu Dhabi, Bahrain, Mohammed bin Rashid Al Maktoum, Bloomberg TV, Rupert Neil Bumfrey, Emirates NBD PJSC Dubai, Hedi Ben Mlouka, Fim Partners, MidEast Equities Amid Virus Bloomberg, Dubai Saudi Arabia Qatar


F1 and INDYCAR Launch Virtual Racing Series

It started in the wake of Formula E suspending its season for two months, then Formula 1 cancelling the Australian Grand Prix because of the COVID-19 pandemic. Jean-Eric Verge (JEV), the two-time ABB FIA Formula E Champion, posted a modest proposal on social media and tagged other drivers: “To all my fellow friends racing drivers who won’t race in the next 2 months: should we create an online championship and race?” A day later, JEV posted a graphic with the tag “Not the AUS GP” – Real F1 Driver...
Tags: Facebook, Instagram, Events, Racing, Williams, F1, Ferrari, Real Madrid, Autos, Mclaren, Formula 1, Formula E, Toro Rosso, Mercedes, Bahrain, Esports


Formula 1 replaces its postponed races with a virtual grand prix series

Formula 1 had to postpone and cancel several races on its calendar due to the current COVID-19 pandemic. With races in Australia, Bahrain, Monaco, Vietnam and China already called off, and the Dutch and Spanish Grands Prix now postponed, the organization today announced that it would now host an esports series, the F1 Esports Virtual Grand Prix series, with a number of current F1 drivers alongside a number of other stars. The virtual Formula 1 races will use Codemaster’s official Formula 1 20...
Tags: TC, Facebook, Australia, China, Sports, Tech, Atlantic, Formula One, Monaco, Vietnam, Formula 1, Bahrain, Nascar, Esports, Ben Kennedy, YouTube Twitch


Exclusive: Bahrain in talks for $1 billion loan after bond plans suspended - sources - Reuters

Exclusive: Bahrain in talks for $1 billion loan after bond plans suspended - sources - Reuters:Bahrain is in talks with banks for a loan of about $1 billion after the Gulf state’s plans to issue international bonds were suspended due to bad market conditions, sources told Reuters.The small Gulf oil producer, rated “junk” by all the three major credit rating agencies, is seeking funds amid a slump in global oil prices which is hurting its finances.Bahrain was bailed out by some of its wealthier G...
Tags: Travel, Saudi Arabia, Russia, Oman, Bahrain, Gulf, Reuters, Gulf Arab, Rupert Neil Bumfrey


Exclusive: Bahrain in talks for $1 billion loan after bond plans suspended - sources

Bahrain is in talks with banks for a loan of about $1 billion after the Gulf state's plans to issue international bonds were suspended due to bad market conditions, sources told Reuters.
Tags: Money, businessNews, Bahrain, Gulf


Mideast Stocks: Most Gulf stocks drop as stimulus measures fade; #Saudi up | ZAWYA MENA Edition

Mideast Stocks: Most Gulf stocks drop as stimulus measures fade; Saudi up | ZAWYA MENA Edition:Most stock markets in the Gulf traded lower on Thursday as emergency central bank measures in the region failed to halt panic selling, though Saudi Arabia bucked the trend.Gulf banks are losing out on a critical earnings quarter with the coronavirus outbreak, as deals and lending activity come to a near standstill ahead of a lull that starts with the fasting month of Ramadan in April and extends into s...
Tags: Travel, Saudi Arabia, GCC, Dubai, Bahrain, Gulf, Gulf Cooperation Council, Air Arabia, Rupert Neil Bumfrey, Emirates NBD Bank


REFILE- #Bahrain banks must offer borrowers six-month deferral on installments - central bank - Reuters

REFILE-Bahrain banks must offer borrowers six-month deferral on installments - central bank - Reuters:Bahrain’s central bank said on Monday banks, financing and microfinance companies must offer six-month deferrals on installments for borrowers impacted by the coronavirus outbreak, according to a circular seen by Reuters.The bank said the deferrals must come with no fees and no increase in interest rates unless borrowers agree to shorter periods.The bank also said it will give retail banks conce...
Tags: Travel, Bahrain, Reuters, Rupert Neil Bumfrey


Bahrain to cover electricity and water payments for individuals, companies for 3 months: ministry

Bahrain announced on Tuesday a financial package of 4.3 billion Bahraini dinar ($11.39 billion) to combat the fallout from the coronavirus outbreak.
Tags: Money, businessNews, Bahrain


MIDEAST STOCKS-Most Gulf bourses extend losses; banks boost #Saudi - Reuters

MIDEAST STOCKS-Most Gulf bourses extend losses; banks boost Saudi - Reuters:25 of 30 Egyptian stocks declineNine of 11 banks rise in SaudiSaudi Aramco closes up, at 29.1 riyals Qatar extends gains on stimulus plan  Most Middle Eastern stocks slid to newmulti-year lows on Tuesday, as heightened fears of thecoronavirus pandemic weighed on sentiment, while Saudi took abreather after four sessions of losses.  The cases of coronavirus in the six-nation Gulf CooperationCouncil reached to 1,042, w...
Tags: Travel, Wam, Qatar, United Arab Emirates, Dubai, Abu Dhabi, Bahrain, Emaar Properties, Etisalat, Rupert Neil Bumfrey, First Abu Dhabi Bank, Emirates NBD Bank, Saudi Reuters, SaudiSaudi Aramco, Gulf CooperationCouncil


MIDEAST STOCKS- #Saudi stocks gain on banks, Aramco; #UAE extends losses | Nasdaq

MIDEAST STOCKS-Saudi stocks gain on banks, Aramco; UAE extends losses | Nasdaq:Saudi Arabian stocks firmed in early trade on Tuesday, supported by gains in the banking sector and as index heavyweight Saudi Aramco rose on the back of higher oil prices.The indexes in the United Arab Emirates (UAE), however, extended their losses as coronavirus cases in the Gulf exceeded 1,000 and Bahrain reported its first death from the virus.Saudi Arabia's index .TASI was 1.1% higher, after declining for four st...
Tags: Travel, Saudi Arabia, Bahrain, Uae, Gulf, Aramco, Saudi Aramco, United Arab Emirates UAE, Tasi, Rupert Neil Bumfrey, Al Rajhi Bank, Khalid al Dabbagh, Russia Aramco


Fed’s Dash to Zero Lets Gulf Top Off Stimulus With Rate Cuts - Bloomberg

Fed’s Dash to Zero Lets Gulf Top Off Stimulus With Rate Cuts - Bloomberg:The central bank of the United Arab Emirates cut the rate on one-week certificates of deposit by 75 basis points. The Saudi Arabian Monetary Authority also lowered its repo rate by 75 basis points to 1%, and its reverse repo rate by the same amount to 0.5%. Kuwait reduced its discount rate by 100 basis points to an all-time low of 1.5%. Qatar’s central bank decreased its deposit and repurchase rates by half a percentage poi...
Tags: Travel, Saudi Arabia, Qatar, Bloomberg, United Arab Emirates, Oman, Bahrain, Kuwait, Gulf, Fed, Mohammed bin Zayed, Bahrain News Agency, Al Mansoori, Rupert Neil Bumfrey, Abu Dhabi Crown, Saudi Arabian Monetary Authority


Bahrain’s Gulf Air suspends dozens of routes due to coronavirus

Bahrain’s state-owned carrier Gulf Air on Monday temporarily suspended dozens of routes as the coronavirus outbreak batters demand for global air travel.
Tags: Money, businessNews, Bahrain, Gulf Air


Coronavirus, oil plunge to pressure MEA sovereigns - Fitch | ZAWYA MENA Edition

Coronavirus, oil plunge to pressure MEA sovereigns - Fitch | ZAWYA MENA Edition:A sharp drop in oil prices, the outbreak of coronavirus as well as a slump in tourism and a weakening demand for non-oil exports add to rating pressures for Middle East and Africa (MEA) sovereigns, Fitch Ratings said.Earlier in March, OPEC failed to strike a deal with its allies, led by Russia, on oil production cuts. This means members can now pump what they like starting April 1.Saudi Arabia slashed crude prices fo...
Tags: Travel, Saudi Arabia, Russia, Africa, Opec, Qatar, Middle East, Oman, Abu Dhabi, Bahrain, Kuwait, Fitch Ratings, Fitch, Gulf Cooperation Council GCC, Rupert Neil Bumfrey


Bahrain & Vietnam Grands Prix called off as F1 season to start in May

The Bahrain and Vietnam Grands Prix have been called off because of the coronavirus pandemic, as F1 expect season to begin in May.
Tags: News, Bahrain


Coronavirus: F1 season set to be suspended until May with Bahrain and Vietnam races called off

The Formula 1 season is set to be suspended until May with the Bahrain and Vietnam Grands Prix expected to be cancelled due to coronavirus concerns.
Tags: News, Vietnam, Bahrain


Bahrain accuses Iran of 'biological aggression', Gulf states try to curb coronavirus

Bahrain accused Iran on Thursday of "biological aggression" by covering up the spread of the coronavirus and failing to stamp Bahraini travellers' passports.
Tags: Money, Iran, businessNews, Bahrain, Gulf


Gulf stocks tumble amid oil price, coronavirus impact - Arabianbusiness

Gulf stocks tumble amid oil price, coronavirus impact - Arabianbusiness:Stock markets in energy-rich Gulf states tumbled Thursday with Saudi shares down more than 4 percent following worldwide losses amid fears over the coronavirus pandemic and an oil price war. Dubai Financial Market dived more than 7 percent at the open on the last trading day of the week. Abu Dhabi shares dropped 6 percent.Stocks in gas-rich Qatar dropped 5.2 percent, while bourses in Bahrain and Oman were down 3.5 percent an...
Tags: Travel, Qatar, Oman, Abu Dhabi, Bahrain, Kuwait, Gulf, Dubai Financial Market, Rupert Neil Bumfrey