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DP World Said to Weigh Sale of Stake in Jebel Ali Free Zone - Bloomberg

DP World Said to Weigh Sale of Stake in Jebel Ali Free Zone - Bloomberg DP World is considering offering international investors a chance to buy into the Jebel Ali Free Zone, a prized asset that helped transform Dubai into a hub of global trade, as it looks for ways to cut its debt pile.The Dubai-based port operator is working with advisers to gauge interest in the sprawling industrial park, according to people familiar with the matter. DP World is considering options including selling a stake...
Tags: Travel, Europe, London, Saudi Arabia, Chile, Dubai, Abu Dhabi, State, Antwerp, DP World, Chen, Bloomberg Intelligence, Rupert Neil Bumfrey, Jebel Ali Free Zone, Sharon Chen, Puertos y Logistica


Most Middle Eastern Stocks Climb as Oil Extends Gains: Inside EM - Bloomberg

Most Middle Eastern Stocks Climb as Oil Extends Gains: Inside EM - Bloomberg Most equities markets in the Middle East extended gains on Sunday, following another positive week for crude prices.Equities gauges in Saudi Arabia, Bahrain, Oman, Kuwait, Qatar and Israel advanced as much as 0.8%, while those in Dubai and Abu Dhabi slipped less than 0.1%.Oil, the main export for Gulf countries, posted its third straight weekly rise on improving demand, with the International Energy Agency warning the...
Tags: Travel, Saudi Arabia, Israel, Bloomberg, Middle East, Dubai, Mecca, Abu Dhabi, Uae, Gulf, Riyadh, International Energy Agency, Bloomberg Intelligence, Jabal Omar, Rupert Neil Bumfrey, Edmond Christou


Robinhood is now eyeing an IPO in July at a $40 billion valuation, report says

Robinhood co-founder, Vlad Tenev. Noam Galai/Getty Images for TechCrunch Robinhood is aiming for a July IPO after delaying its plans this month, Bloomberg reported. The investment app wants to wait until people return from the July 4 holiday, the report said. The platform rolled out a service to let investors to buy into IPOs, including its own, last month. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Robinhood is targeting a stock market debut in July, after i...
Tags: Ipo, Amc, US, Trends, Bloomberg, Goldman Sachs, Nasdaq, Robinhood, Gamestop, Bloomberg Intelligence, David Ritter, Shalini Nagarajan, TechCrunch Robinhood, Opening Bell Robinhood, Paula Loop, Vlad Tenev Noam Galai Getty


Aramco Starts Debut Sale of Dollar-Denominated Islamic Bonds - Bloomberg

Aramco Starts Debut Sale of Dollar-Denominated Islamic Bonds - Bloomberg Saudi Aramco, the world’s biggest energy company, started marketing its first dollar-denominated Islamic bond sale.The state-controlled company is offering sukuk due in three, five and 10 years, according to a person familiar with the matter, who asked not to be identified as the details are private.The firm is raising cash to help finance its plans to pay out $75 billion in dividends, a commitment that the oil company ma...
Tags: Travel, Saudi Arabia, Bloomberg, Aramco, Bloomberg Intelligence, Rupert Neil Bumfrey, Bloomberg Saudi Aramco, Jaimin Patel, Damian Sassower


#Qatar Orders Arrest of Finance Minister Over Misuse of Funds - Bloomberg

Qatar Orders Arrest of Finance Minister Over Misuse of Funds - Bloomberg Qatar’s prosecutor ordered the arrest of Finance Minister Ali Sharif Al-Emadi to question him over an alleged abuse of power and misuse of public funds, state-run Qatar News Agency reported.Al-Emadi was named finance minister a day after Sheikh Tamim bin Hamad Al Thani took over leadership of the country in June 2013, and has held the role since. The prosecutor has launched an investigation, QNA said on Thursday. No furth...
Tags: Travel, Qatar, Bloomberg, Qatar Investment Authority, Gulf, Qatar Airways, Mohammed bin Salman, Hamad al Thani, Bloomberg Intelligence, Qatar National Bank, Qatar News Agency, Rupert Neil Bumfrey, QNA, Ali Sharif Al Emadi, Qatar Financial Centre, Al Emadi


10 things you need to know before the opening bell

JOHANNES EISELE/AFP via Getty Images Welcome to 10 Things Before the Opening Bell. Sign up here to get this email in your inbox every morning.Sign up for Insider Investing for your weekly markets analysis.1. Global stocks gain after US jobs and oil demand data fuel economic optimism. See what markets are doing today.2. Bill Gates transferred stock worth about $2.4 billion to Melinda Gates. The tech billionaire moved some of his holdings on the same day they announced their divorce.3. New r...
Tags: Global, US, Trends, Bank Of England, Bill Gates, SEC, Volkswagen, Melinda Gates, John Williams, Baillie Gifford, Kraken, Bloomberg Intelligence, Andrew Bailey, Gary Gensler, New York Fed, The IRS


Updated #Qatar Stocks Surge on Plans to Allow Full Foreign Ownership - Bloomberg

Qatar Stocks Surge on Plans to Allow Full Foreign Ownership - BloombergQatari stocks rose the most in a year after the country said it may allow foreign investors to fully own listed companies, a move that could trigger more than $1 billion of overseas inflows.The cabinet approved a draft law that will allow overseas investors to own up to 100% of listed companies, according to the state-run Qatar News Agency. If the law is implemented, companies would have to individually approve the increased ...
Tags: Travel, Saudi Arabia, Qatar, Bloomberg, United Arab Emirates, Doha, Gulf, Bloomberg Intelligence, Qatar News Agency, Rupert Neil Bumfrey, Commercial Bank of Qatar, Al Rayan Investment, Edmond Christou, Akber Khan, Qatar Islamic Bank SAQ Masraf Al Rayan QSC


The global chip shortage is set to drag on. 4 experts predict how long it could last and how it could affect markets

iStock/Getty Images Plus Experts believe the chip shortage is set to continue through 2021 and even into 2022. The shortage will cause supply constraints in more than just the auto industry. Despite increasing chip supply, long lead times mean meeting demand this year may be impossible. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Semiconductors are some of the most critical components for the technology the underpins much of modern life. Smartphones, PCs, ele...
Tags: Apple, US, Trends, Ford, Biden, Audi, Cnbc, Srinivasan, Microchip Technology, Taiwan Semiconductor Manufacturing Co, Baird, Yahoo Finance, Bloomberg Intelligence, Anand Srinivasan, Moorthy, Will Daniel


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


To avoid blackouts, California’s installing more big batteries than all of China

By David R Baker | Bloomberg With summer’s heat approaching, California’s plan for avoiding a repeat of last year’s blackouts hinges on a humble savior – the battery. Giant versions of the same technology that powers smart phones and cars are being plugged into the state’s electrical grid at breakneck speed, with California set to add more battery capacity this year than all of China, according to BloombergNEF. It will be the biggest test yet of whether batteries are reliable enough to sustain a...
Tags: South Korea, Business, Politics, Hollywood, Texas, Technology, News, Climate Change, Australia, California, France, China, Environment, California News, Tesla, Sport


Machinery manufacturer Caterpillar is expecting shipment delays due to the Suez Canal gridlock

The US machinery maker is facing shipment problems. AP The Suez Canal crisis will likely cause shipment issues for Caterpillar, sources told Bloomberg. The blockage is pushing the machinery firm to consider airlifting products if deemed necessary. Many US manufacturers were facing supply-chain issues, even before the blockage. See more stories on Insider's business page. Caterpillar Inc., the world's largest construction equipment maker, is enduring shipment delays due to the Sue...
Tags: Asia, Europe, White House, Africa, US, Trends, Bloomberg, Ap, Denmark, Manufacturing, Caterpillar, Suez Canal, Caterpillar Inc, Bloomberg Intelligence, Tech Insider, Lars Jensen


Gulf Equity Markets Rise, Shrugging Off Lower Crude: Inside EM - Bloomberg

Gulf Equity Markets Rise, Shrugging Off Lower Crude: Inside EM - BloombergDubai’s equities index led gains in the Gulf Sunday as traders focus on the long-term prospect for oil, shrugging off the first week of decline for Brent in two months.The DFM General Index advanced as much as 0.9% after the city at the weekend announced an urban plan for the next two decades. Gauges in Saudi Arabia, Abu Dhabi, Oman and Kuwait also rose while Qatar’s slipped.Stock markets in the Gulf followed an increase f...
Tags: Travel, Saudi Arabia, Qatar, Bloomberg, United Arab Emirates, Dubai, Abu Dhabi, Kuwait, Uae, Gulf, Bloomberg Intelligence, NPL, Emaar Properties, Rupert Neil Bumfrey, Christou, DFM


Workhorse extends 2-day slide to 57% after losing USPS contract to Oshkosh

Workhorse Truck Workhorse Workhorse stock extended its two-day slide to 57% on Wednesday after losing a coveted USPS contract to Oshkosh Defense. The electric vehicle maker was a front runner for the ten-year, multi-billion dollar USPS contract to modernize the delivery fleet. Oshkosh received $482 million in the first part of the deal and expects to assemble 50,000 to 165,000 vehicles over the contract period. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Workh...
Tags: Trends, US Postal Service, Usps, Postal Service, Cnbc, Jared Huffman, Bloomberg Intelligence, Oshkosh, BTIG, Oshkosh Defense, Workhorse, Will Daniel, Workhorse Truck Workhorse Workhorse, Opening Bell Workhorse, Christopher Ciolino, VT Hackney


Apple Car Latest: Kia Talks With Potential Partners About Vehicle Assembly in Georgia, While Apple Seeks Supply Deals With Japanese Automakers

Apple Car rumors continued to surface on Friday, with reports that Hyundai Group affiliate Kia has approached potential partners about a plan to assemble Apple's autonomous electric vehicle at its West Point plant in the U.S. state of Georgia (via The Wall Street Journal). Kia Corp. has approached potential partners about a plan to assemble Apple Inc.'s long-awaited electric car in Georgia, according to people familiar with the matter. The proposal would involve a multibillion-dollar investment...
Tags: Apple, Asia, West Point, Georgia, Bloomberg, Nissan, Mitsubishi, Hyundai, Kia, Apple Inc, Apple Car, Mazda, Bloomberg Intelligence, Hyundai Group, Ming Chu Kuo, Wall Street Journal Kia Corp


Most Mideast Equity Gauges Fall as Earnings Roll In: Inside EM - Bloomberg

Most Mideast Equity Gauges Fall as Earnings Roll In: Inside EM - Bloomberg Qatar stocks led losses in the Middle East as companies started reporting results across the region.Profitability for lenders in the Gulf Arab region remains under pressure, with disruptions to trade and travel continuing to rattle the energy-rich region. Qatar National Bank QPSC, the Middle East’s biggest lender, reported last week a 16% drop in net income for 2020. Some banks in Oman also published results that showed a...
Tags: Travel, Bloomberg, Egypt, Middle East, United Arab Emirates, Dubai, Oman, Abu Dhabi, Kuwait, Doha, Riyadh, Bloomberg Intelligence, Gulf Arab, National Bank, Rupert Neil Bumfrey, Oza


Big Pharma is set to sell $40 billion worth of COVID-19 vaccines in 2021

A healthcare worker in the Netherlands is given the Pfizer-BioNTech vaccine on January 6. Piroschka van de Wouw/Pool via AP The nascent COVID-19 vaccine market could bring drugmakers $40 billion in sales in 2021, according to Bernstein analysts. Pfizer and Moderna, the two drugmakers to have their COVID-19 vaccines authorized by the FDA, will sell $28 billion this year, in revenues that will likely decrease by next year. Pfizer, who will split its profits with German partner BioNTech, has ...
Tags: UK, California, US, Alabama, Trends, Eu, Healthcare, Netherlands, Astrazeneca, Fda, Pfizer, Morgan Stanley, Bernstein, Big Pharma, Department of Health and Human Services, Bloomberg Intelligence


Last-minute shoppers avoid stores, hit websites — and deliveries are piling up

By Anne Riley Moffat and Thomas Black | Bloomberg American shoppers shunned stores and extended their online binge during the last weekend before Christmas, adding to a package-delivery logjam that’s now reaching a crescendo. “There’s “a lot of stuff all hitting at once,” said Craig Johnson, president of Customer Growth Partners. “I think it’s past the time for creative. They have to charge people extra to get it there.” With COVID-19 cases surging in the U.S., foot traffic slumped nearly 40% at...
Tags: Google, Amazon, Business, Bloomberg, Sport, UPS, Soccer, Usps, Drake, Postal Service, DHL, The Washington Post, Roadie, U S Postal Service, Bloomberg Intelligence, Pitney Bowes Inc


We're on the cusp of vaccine authorizations

Welcome to Business Insider's daily healthcare newsletter, your daily dose of pharma, biotech, and healthcare news. Subscribe here to get this newsletter in your inbox every weekday. Hollis Johnson/Business Insider Hello,Somehow, dear readers, we've made it to December. And this month is set to be a remarkable one. In the next few weeks, we'll be hearing about more vaccine approvals like we saw in the UK, and emergency authorizations here in the US.For a complete picture of what's ahead ...
Tags: Google, Startups, Florida, UK, US, Trends, Healthcare, Oxford, Astrazeneca, Pfizer, Vaccine, University of Oxford, Catherine, Kleiner Perkins, Cb Insights, Papa


Aramco Can Do Whatever It Likes With Money Raised From Bond Sale - Bloomberg

Aramco Can Do Whatever It Likes With Money Raised From Bond Sale - Bloomberg Is it wise to lend money to a company that’s simply going to use it to pay its equity holders a fat dividend? If it’s one of the world’s largest and most profitable businesses, the answer is probably yes.Saudi Aramco is making its second big foray into the international bond markets with a bumper slab of five new bonds, ranging from three to 50 years in maturity. Expectations are that the giant oil producer will only ra...
Tags: Travel, Bloomberg, Aramco, Saudi Aramco, Kingdom of Saudi Arabia, Bloomberg Intelligence, Rupert Neil Bumfrey, Bond Sale Bloomberg


Middle East Stocks News: #Saudi Banks Boost Main Stock Index Amid Recovery Bets: Inside EM - Bloomberg

Middle East Stocks News: #Saudi Banks Boost Main Stock Index Amid Recovery Bets: Inside EM - Bloomberg Saudi lenders boosted the main index in Riyadh to the biggest gain in the Middle East amid bets that a recovery in the kingdom’s economy will help earnings next year.The Tadawul Banks Index, composed of 12 banking shares, advanced 0.7% on Sunday to end at the highest level since Feb. 23. Al Rajhi Bank, Bank AlBilad, Samba Financial Group and Saudi British Bank climbed between 0.7% and 2.1...
Tags: Travel, Saudi Arabia, Bloomberg, Middle East, Riyadh, Mohammed bin Salman, Bloomberg Intelligence, Rupert Neil Bumfrey, Saudi British Bank, Edmond Christou, Al Rajhi Bank Bank AlBilad Samba Financial Group


Top #AbuDhabi Islamic Bank Is Undeterred by Damage From Pandemic - Bloomberg

Top Abu Dhabi Islamic Bank Is Undeterred by Damage From Pandemic - Bloomberg The biggest Islamic bank in Abu Dhabi is striking an upbeat tone despite emerging from the global pandemic with one of the highest shares of bad loans among its peers.Abu Dhabi Islamic Bank PJSC came out “fairly undamaged” from a program of loan deferrals rolled out as part of the UAE central bank’s relief effort during the outbreak, according to Mohamed Abdel Bary, the lender’s group chief financial officer. Known as A...
Tags: Travel, International Monetary Fund, Abu Dhabi, Uae, Bloomberg Intelligence, Rupert Neil Bumfrey, Abu Dhabi Islamic Bank, ADIB, Abu Dhabi Islamic Bank PJSC, AbuDhabi Islamic Bank, Damage From Pandemic Bloomberg, Mohamed Abdel Bary, Known as ADIB


More malls dragged into bankruptcy by as retail carnage continues

By Jeremy Hill | Bloomberg America’s ailing malls suffered a pair of body blows over the weekend as two major landlords followed their ever-growing list of bankrupt tenants into Chapter 11 protection. Pennsylvania Real Estate Investment Trust and CBL & Associates Properties Inc. sought protection from creditors Sunday, citing pandemic-induced pressures on their tenants and, in turn, themselves. Together the two REITs account for some 87 million square feet of real estate across the U.S., accordi...
Tags: Business, Real Estate, California, La, Sport, Soccer, Dallas, Philadelphia, Michigan, Houston, Chattanooga, Delaware, Cbre, Commercial Real Estate, Redfin, Los Angeles County


#Kuwait Cuts Some Rates to Ease Currency and Virus Pressures - Bloomberg

Kuwait Cuts Some Rates to Ease Currency and Virus Pressures - Bloomberg Kuwait’s central bank cut interest rates on some monetary policy instruments in an effort to ease pressure on the currency while helping the economy cope with the impact of the Covid-19 pandemic.In a surprise move, the central bank also said it would keep the discount rate at 1.5%, maintaining the existing cap for loans extended to customers in Kuwaiti dinars. At the same time, it lowered by 0.125% the repo rate and yields o...
Tags: Travel, Bloomberg, Kuwait, Gulf, U S Federal Reserve, Bloomberg Intelligence, Rupert Neil Bumfrey, Edmond Christou, Ease Currency and Virus Pressures Bloomberg Kuwait


The Battle Over Chips is About to Get Uglier

"We're in a new world where governments are more concerned about the security of their digital infrastructure and the resiliency of their supply chains," Jimmy Goodrich, vice president of global policy with the Washington-based Semiconductor Industry Association, tells Bloomberg. "The techno-nationalist trends gaining traction in multiple capitals around the world are a challenge to the semiconductor industry." At once highly globalized and yet concentrated in the hands of a few countries, th...
Tags: Europe, Japan, Washington, China, Samsung, Tech, Bloomberg, Taiwan, Beijing, Arizona, European Commission, Donald Trump, TSMC, Communist Party, Bloomberg Intelligence, SMIC


J&J Halts Covid-19 Vaccine Trial on Unexplained Illness

Oct.13 -- Johnson & Johnson paused clinical trials for its Covid-19 vaccine after a participant fell ill. Bloomberg Intelligence’s Sam...
Tags: Johnson Johnson, Bloomberg Intelligence


Return of Libya’s Oil Is a New Headache for Markets - Bloomberg

Return of Libya’s Oil Is a New Headache for Markets - Bloomberg:A new wave of coronavirus lockdowns is already slowing oil’s price recovery. Now, commodity traders have a new headache: Libya.The civil-war-torn country’s oil industry has been all but shut down since January. But it looks as if exports will restart imminently thanks to a truce and an agreement between the main factions over the past week to share petrodollars more evenly. A return of Libyan barrels would come amid volatility in cr...
Tags: Travel, Opec, Libya, Goldman Sachs, Bloomberg Intelligence, Rupert Neil Bumfrey, Markets Bloomberg


Brand Moves for Monday September 7

In early March we began reporting daily on how brands were dealing with COVID-19. But it’s become clear that the current climate is one of near-perpetual disruption, so we decided to keep on telling the stories of inspiring brand leadership and strategy amid the latest crises in an anxious world. Our goal is to provide an up-to-the-minute source of information, inspiration and insight on brand moves as they happen. Verizon-owned phone service Visible is attempting to write a new pandemic-friend...
Tags: Verizon, New York, Kentucky, Advertising, Diageo, Ufc, Las Vegas, North America, Heinz, Lima, Denver, Hamilton, Chris Rogers, Kelly, Lynn, Napster


AT&T, Ready For Your $30 Billion DirecTV Haircut?

An anonymous reader quotes a report from Bloomberg: AT&T is once again looking to sell its DirecTV unit, a business that has lost billions of dollars in value since the wireless carrier acquired it in 2015. The sooner it waves goodbye, the better. The question is, who wants it? DirecTV has faded into the background at AT&T, a company now entirely focused on competing in 5G wireless connectivity and online television. Any DirecTV user can attest to how the service has been neglected in recent yea...
Tags: Hbo, Tech, Bloomberg, Netflix, AT T, Bloomberg Intelligence, DirecTV, John Butler, U Verse, Apollo Global Management Inc


Lyft to suspend operations at midnight in California

Lyft said it will suspend ride-sharing operations in California as of midnight, making good on its promise to stop doing business in the state rather than comply with a law to reclassify its drivers as employees. “This is not something we wanted to do, as we know millions of Californians depend on Lyft for daily, essential trips,” the company wrote in a blog post on Thursday. “We’re personally reaching out to riders and drivers to share more about why this is happening, what you can do about it,...
Tags: Lyft, Uber, Business, Politics, New York, News, Labor, California, California News, America, Los Angeles, San Francisco, Sport, Soccer, Instacart, Lyft Uber


Virgin Atlantic files Chapter 15 bankruptcy petition

By Josh Saul and Claire Boston | Boston Richard Branson’s Virgin Atlantic Airways Ltd. filed for Chapter 15 bankruptcy protection in the U.S. on Tuesday after telling a London court it was set to run out of cash next month if a pending rescue deal isn’t approved. The airline filed its petition in the Southern District of New York. Chapter 15 allows foreign companies with U.S. assets to protect themselves against claims while they work on a turnaround plan at home. The company had said during pro...
Tags: Business, New York, London, Sport, Bankruptcy, Soccer, United States, Delta, Virgin, Airlines, Latin America, Virgin Atlantic, Bloomberg Intelligence, Vaal, Claire Boston, Josh Saul