Posts filtered by tags: Gulf[x]


 

#SaudiArabia, #Qatar Near U.S.-Brokered Deal to End Lengthy Rift - Bloomberg

Saudi Arabia, Qatar Near U.S.-Brokered Deal to End Lengthy Rift - Bloomberg Saudi Arabia and Qatar are nearing a preliminary deal to end a rift that’s dragged on for more than three years, prodded by a Trump administration seeking foreign policy wins during its waning days in the White House, three people with knowledge of the talks said.The tentative agreement does not involve the three other Arab countries that also severed diplomatic and trade ties with Qatar in June 2017 -- the United Arab E...
Tags: Travel, Saudi Arabia, White House, Israel, Qatar, Iran, Egypt, Middle East, Tehran, Donald Trump, Kuwait, Doha, Uae, Gulf, Trump, United Arab Emirates Bahrain


#UAE finds its voice within OPEC, complicating oil diplomacy | Reuters

UAE finds its voice within OPEC, complicating oil diplomacy | Reuters The United Arab Emirates came out of OPEC heavyweight Saudi Arabia’s shadow this week by demanding better adherence with oil supply cuts, effectively delaying the latest strategy decision by OPEC and its allies by a few days, sources told Reuters.The unusual move highlights the UAE’s growing role within OPEC as it seeks to boost production in the years ahead to gain market share.It also underscores Abu Dhabi’s growing politica...
Tags: Travel, Saudi Arabia, Russia, Opec, United Arab Emirates, Abu Dhabi, Uae, Gulf, Reuters, Riyadh, Rupert Neil Bumfrey, Israel OPEC


#Saudi shares ease, other markets gain after UK's Pfizer-BioNTech vaccine approval | Reuters

Saudi shares ease, other markets gain after UK's Pfizer-BioNTech vaccine approval | Reuters Saudi shares edged down on Wednesday, tracking lower oil, while other Gulf markets were buoyed by encouraging news in the fight against the COVID-19 pandemic as Britain became the first country in the world to approve the Pfizer-BioNTech vaccine rollout.Britain said the vaccine developed by Pfizer and partner BioNTech will be rolled out from early next week, a boost for investors worldwide.Oil prices exte...
Tags: Travel, UK, Saudi Arabia, Opec, Qatar, Britain, United States, Dubai, Pfizer, Abu Dhabi, Bahrain, Kuwait, Gulf, Reuters, Index, Saudi Aramco


Investment banks stick with Gulf despite falling fees | Financial Times

Investment banks stick with Gulf despite falling fees | Financial Times Fees are falling, oil prices are low and the region’s economies are under threat. But top global investment banks say they have no intention of pulling back from the Gulf.  Regional fees from M&A, loans, debt and equity issuance fell 7 per cent in the 10 months to the end of October, Refinitiv data show. Globally, meanwhile, fees rose 17 per cent in the same period as companies in the US and Europe raised cash to deal ...
Tags: Travel, Europe, US, Financial Times, Gulf, Rupert Neil Bumfrey, Saudi Aramco IPO


Gulf states turn inward as they face diminishing resources | Financial Times

Gulf states turn inward as they face diminishing resources | Financial Times In the early weeks of the coronavirus pandemic, Saudi Arabia’s ambitious sovereign wealth fund scented an opportunity. As global markets plummeted, the Public Investment Fund went on a spending spree, buying stakes in a host of US and European blue-chip stocks in the first three months of the year, worth collectively at least $7.7bn. But Crown Prince Mohammed bin Salman, the kingdom’s de facto leader and the PIF’s c...
Tags: Travel, Saudi Arabia, US, Financial Times, Mohammed, Pif, Gulf, Mohammed bin Salman, Shura Council, Rupert Neil Bumfrey


Gulf regulators must clarify their cross-border responsibilities | Financial Times ht @governcenter

Gulf regulators must clarify their cross-border responsibilities | Financial Times In the past three years, some of the Gulf’s leading companies, including Abraaj, Drake & Scull, Arabtec, Al Mojel, and most recently NMC Healthcare, have been stung by problems that highlighted unaddressed governance risks.  These occurred after an increase in corporate governance regulations, introduced after a domestic equity-market crisis in 2005. Market manipulation had been prevalent and capital market r...
Tags: Travel, London, US, Uae, Gulf, NMC, Abraaj, Rupert Neil Bumfrey, NMC Healthcare, | Financial Times, Abraaj Drake Scull Arabtec Al Mojel


MIDEAST STOCKS-Most log monthly gains on COVID-19 vaccine optimism | Nasdaq

MIDEAST STOCKS-Most log monthly gains on COVID-19 vaccine optimism | Nasdaq Saudi and Dubai shares ended higher on Monday, with most markets recording monthly gains thanks to optimism that the progress in COVID-19 vaccine development would help global economies recover at a quicker pace than initially anticipated.Financial markets worldwide have gained in most sessions after U.S. drugmakers Pfizer PFE.N and Moderna MRNA.O, and Britain's AstraZeneca AZN.L released positive trial data on their vac...
Tags: Travel, Saudi Arabia, Opec, Qatar, Britain, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Emirates NBD, Tasi, Rupert Neil Bumfrey, Pfizer PFE N, First Abu Dhabi Bank, DFMGI


Coronavirus live news: Moderna to seek US and EU approval for vaccine; Hong Kong limits gatherings to two people

Moderna reports a 100% success rate in preventing severe cases; Hong Kong tightening comes after schools closed for in-person learning for rest of yearModerna Covid vaccine has 94% efficacy, final results confirmFauci warns of ‘surge upon surge’ in US cases after ThanksgivingSri Lanka prisoners killed in riot over coronavirus conditionsLife after Covid: will our world ever be the same?UK coronavirus – latest updatesSee all our coronavirus coverage 1.16pm GMT The US Transportation Security Ad...
Tags: Hong Kong, Europe, Science, US, Eu, UK News, World news, US news, Medical Research, Asia Pacific, Middle East and North Africa, Infectious Diseases, Microbiology, Oman, Gulf, US Transportation Security Administration


MIDEAST STOCKS-Markets track oil lower ahead of OPEC+ meeting; most set for monthly gains | Nasdaq

MIDEAST STOCKS-Markets track oil lower ahead of OPEC+ meeting; most set for monthly gains | Nasdaq Most major Gulf markets weakened on Monday, tracking lower oil prices ahead of a crucial meeting of producer group Organization of the Petroleum Exporting Countries (OPEC+), but they were set to finish the month higher on hopes of a COVID-19 vaccine.Financial markets worldwide have gained in most sessions over the past couple of weeks as U.S. drugmakers Pfizer Inc PFE.N and Moderna Inc MRNA.O as we...
Tags: Travel, Saudi Arabia, Russia, Opec, Qatar, Britain, Healthcare, Dubai, Abu Dhabi, Gulf, Adi, Tasi, Rupert Neil Bumfrey, QSI, First Abu Dhabi Bank, Pfizer Inc PFE N


Major Gulf markets close mixed, #Dubai ends winning streak | Reuters

Major Gulf markets close mixed, Dubai ends winning streak | Reuters Major Gulf stock markets ended mixed on Sunday with Saudi Arabian shares extending gains for a sixth consecutive day, while Dubai fell after five days of rises.All major Gulf stocks registered gains in the week to Thursday, riding on a rally fuelled by optimism around COVID-19 vaccine developments.Saudi Arabia’s main index was up 0.2% as Dr. Sulaiman Al-Habib Medical Services Group surged 8.7%, its sharpest intra-day rise since ...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Abu Dhabi, Gulf, Reuters, MSCI, Moody, CureVac, Rupert Neil Bumfrey, Emaar Malls, Saudi Electricity, Major Gulf, Emirates Telecommunications Group, Emirates NBD Bank


U.S. aircraft carrier deploys to Gulf, Navy says unrelated to 'specific threats'

U.S. aircraft carrier USS Nimitz was deployed to the Gulf this week, days before the killing of Iran's top nuclear scientist, although...
Tags: Iran, Gulf, Gulf Navy


#Dubai raises a glass to social changes in the Gulf | Financial Times

Dubai raises a glass to social changes in the Gulf | Financial Times When Patrick went to a media launch for a new smartphone in Dubai, the Gulf’s tourism and commercial hub, the expatriate never imagined that the evening would end in a police station.  After an enthusiastic embrace of the free bar that so often graces such marketing events, a verbal altercation with a taxi driver led to his arrest.  His contrite response to police questioning over his non-existent liquor licence — th...
Tags: Travel, United Arab Emirates, Dubai, Gulf, Patrick, Rupert Neil Bumfrey


#SaudiArabia seeks to resolve #Qatar crisis as ‘gift’ to Joe Biden | Financial Times

Saudi Arabia seeks to resolve Qatar crisis as ‘gift’ to Joe Biden | Financial Times Saudi Arabia has stepped up its efforts to resolve its more than three-year dispute with Qatar after US president Donald Trump’s election defeat, according to people briefed on the talks.  The move to end the Gulf states’ blockade of their gas-rich neighbour is being perceived as an attempt by Crown Prince Mohammed bin Salman to curry favour with the incoming Biden administration and deliver a parting prese...
Tags: Travel, Washington, Saudi Arabia, US, Qatar, Joe Biden, Iran, Egypt, Middle East, Al Jazeera, Biden, Abu Dhabi, Tehran, Yemen, Donald Trump, Bahrain


Mideast Stocks-Major markets log weekly gains on vaccine hopes | ZAWYA MENA Edition

Mideast Stocks-Major markets log weekly gains on vaccine hopes | ZAWYA MENA Edition Abu Dhabi shares ended lower on Thursday but all major Gulf markets managed weekly gains, riding on a rally fuelled by optimism around COVID-19 vaccine developments.Financial markets globally have gained in most sessions over the past couple of weeks as U.S. drugmakers Pfizer Inc and Moderna Inc, and British firm AstraZeneca released positive data on the effectiveness of their vaccine candidates.Investors are opt...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Astrazeneca, Abu Dhabi, Gulf, Pfizer Inc, Air Arabia, Rupert Neil Bumfrey, Dubai Islamic Bank, National Commercial Bank, First Abu Dhabi Bank, Moderna Inc, Qatar Commercial Bank, Sulaiman Al Habib Medical Services Group


#Qatar Inks Deal for Minority Stake in Turkish Stock Exchange - Bloomberg

Qatar Inks Deal for Minority Stake in Turkish Stock Exchange - Bloomberg Qatar announced on Thursday a series of high-profile investments in Turkey, its biggest ally in a years-long rift with Gulf heavyweights Saudi Arabia and the United Arab Emirates, including the purchase of a stake in the country’s main bourse.Doha-based sovereign wealth fund Qatar Investment Authority signed a memorandum of understanding with its Turkish counterpart known as TWF to purchase a 10% stake in Borsa Istanbul AS....
Tags: Travel, Saudi Arabia, Qatar, Turkey, Middle East, United Arab Emirates, Qatar Investment Authority, Recep Tayyip Erdogan, Istanbul, Doha, Gulf, Ankara, Hamad al Thani, Rupert Neil Bumfrey, Bloomberg Qatar, Turkish Stock Exchange Bloomberg


#Saudi, #AbuDhabi Wealth Funds Team Up on Egyptian Drugmaker Deal - Bloomberg

Saudi, Abu Dhabi Wealth Funds Team Up on Egyptian Drugmaker Deal - Bloomberg Two of the biggest sovereign wealth funds in the Middle East are exploring a joint bid for an Egyptian pharmaceutical company, a deal that could mark the beginning of wider co-investment plans between the two state-controlled firms, people familiar with the matter said.Saudi Arabia’s Public Investment Fund and ADQ, formerly known as Abu Dhabi Development Holding Co., are weighing the purchase of Bausch Health Cos.’s Cai...
Tags: Travel, Saudi Arabia, Bloomberg, Egypt, Middle East, Abu Dhabi, Pif, Cairo, Gulf, Bausch, Rupert Neil Bumfrey, Public Investment Fund, Louis Dreyfus Co, Abu Dhabi Development Holding Co, ADQ, Bausch Health Cos


MIDEAST DEBT-Gulf bonds likely to set new record in 2021 amid budget squeeze | Reuters

MIDEAST DEBT-Gulf bonds likely to set new record in 2021 amid budget squeeze | Reuters International debt sales from the six-member Gulf Cooperation Council are likely to notch another record year in 2021 as governments need to fill wider deficits and corporates look to grab money on the cheap amid low rates.The oil-rich region saw a second consecutive year of record international bonds, topping $100 billion, as issuers’ finances were battered by the COVID-19 pandemic along with low oil prices, ...
Tags: Travel, Middle East, Gulf, North Africa, Reuters, Gulf Cooperation Council, Reuters International, Rupert Neil Bumfrey, Khalid Rashid, Deutsche Bank S P Global Ratings


MIDEAST STOCKS- #Saudi leads losses in morning trade | Nasdaq

Most major Gulf markets struggled in the final trading session of the week on Thursday, as a rally fuelled by optimism around COVID-19 vaccine developments lost steam.Financial markets globally have gained in most sessions over the past couple of weeks as U.S. drugmakers Pfizer Inc PFE.N and Moderna Inc MRNA.O, and British firm AstraZeneca AZN.L released positive data on the effectiveness of their vaccine candidates.Investors are optimistic that progress made on the vaccine front would help econ...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Abu Dhabi, Gulf, Adi, Tasi, Rupert Neil Bumfrey, Al Rajhi Bank, First Abu Dhabi Bank, Emirates NBD ENBD, Pfizer Inc PFE N, Emaar Properties EMAR DU, Emirates Telecom Etisalat, Moderna Inc


#AbuDhabi to Expand Media Hub in Effort to Diversify Economy - Bloomberg

Abu Dhabi to Expand Media Hub in Effort to Diversify Economy - Bloomberg Abu Dhabi’s media free zone twofour54, home to the regional headquarters of Ubisoft Entertainment SA and CNN, is aiming to triple the size of the emirate’s media industry over the next decade, as part of ongoing efforts to diversify the oil-dependent economy.“Abu Dhabi is in the process of transforming itself from a resource-based economy to a knowledge-based economy,” twofour54’s Chief Executive Officer Michael Garin said ...
Tags: Travel, Cnn, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Rupert Neil Bumfrey, Garin, Michael Garin, Ubisoft Entertainment SA, Bloomberg Abu Dhabi, Expand Media Hub, Diversify Economy Bloomberg, Yas Creative Hub


MIDEAST STOCKS-Major Gulf shares extend gains on upbeat global outlook | Nasdaq

Major Gulf markets rallied on Wednesday as investors cheered the prospects of a faster-than-expected global economic recovery, driven mainly by encouraging news on the COVID-19 vaccine development front.Financial markets worldwide have gained in the past couple of weeks as U.S. drugmakers Pfizer Inc PFE.N and Moderna Inc MRNA.O as well as British firm AstraZeneca AZN.L released positive data on the effectiveness of their vaccine candidates.Aiding sentiment, the uncertainty over presidential tran...
Tags: Travel, Qatar, Joe Biden, United States, Dubai, Abu Dhabi, Donald Trump, Gulf, Adi, Tasi, Rupert Neil Bumfrey, Industries Qatar, QSI, National Commercial Bank, Al Rajhi Bank, Pfizer Inc PFE N


MIDEAST STOCKS-Gulf markets rally on upbeat global economic outlook | Nasdaq

MIDEAST STOCKS-Gulf markets rally on upbeat global economic outlook | Nasdaq Most major Gulf markets extended gains on Wednesday as investors cheered prospects of a faster-than-expected global economic recovery, driven mainly by encouraging news on the COVID-19 vaccine development front.Financial markets worldwide have gained in the past couple of weeks as U.S. drugmakers Pfizer Inc PFE.N and Moderna Inc MRNA.O and British firm AstraZeneca AZN.L released positive data on the effectiveness of the...
Tags: Travel, Qatar, Joe Biden, United States, Dubai, Abu Dhabi, Donald Trump, Gulf, Saudi Basic Industries Corp, Tasi, Rupert Neil Bumfrey, QSI, National Commercial Bank, First Abu Dhabi Bank, Pfizer Inc PFE N, Moderna Inc


Most Middle East markets end higher as investors cheer Biden transition, vaccine progress | Reuters

Most markets end higher as investors cheer Biden transition, vaccine progress | Reuters Most major Gulf markets closed higher on Tuesday, tracking gains on global bourses, helped by a formal transition nod for U.S. President-elect Joe Biden and new coronavirus vaccine developments.U.S. President Donald Trump on Monday gave the head of the General Services Administration the go-ahead to proceed with a transition to a government led by Biden despite plans to continue with legal challenges.Global f...
Tags: Travel, Saudi Arabia, Opec, Qatar, Joe Biden, Middle East, Dubai, General Services Administration, Biden, Abu Dhabi, Yemen, Donald Trump, Jeddah, Gulf, Reuters, Aramco


Oil-rich #Kuwait faces reckoning as debt crisis looms

Oil-rich Kuwait faces reckoning as debt crisis looms When Kuwait emerged from a monthslong coronavirus lockdown, hundreds of Kuwaitis flocked to reopened stores, the lines clogging malls, snaking through hallways and spilling onto sidewalks.But unlike much of the world, where long lines formed for donated food, Kuwaitis were waiting to buy Cartier jewelry.The jewelry-store rush by Kuwait’s long-coddled citizens is a symptom of a looming disaster. Kuwait, one of the world’s wealthiest countries, ...
Tags: Travel, Kuwait, Gulf, Cartier, Moody 's, Rupert Neil Bumfrey, Bader al Saif, Kuwait University Like


MIDEAST STOCKS-Most markets rise on Biden transition, vaccine optimism | Nasdaq

MIDEAST STOCKS-Most markets rise on Biden transition, vaccine optimism | Nasdaq Most major Gulf markets tracked broader Asia stocks higher on Tuesday, helped by a formal transition approval for U.S. President-elect Joe Biden and new coronavirus vaccine developments.U.S. President Donald Trump on Monday gave the head of the General Services Administration the go-ahead to proceed with a transition to a government led by Biden despite plans to continue with legal challenges.Saudi Arabia's benchmark...
Tags: Travel, Asia, Saudi Arabia, Russia, Qatar, Joe Biden, Dubai, General Services Administration, Biden, Abu Dhabi, Donald Trump, Gulf, Saudi Basic Industries Corp, Tasi, Rupert Neil Bumfrey, QSI


MIDEAST STOCKS-Major markets gain on vaccine optimism; #Saudi eases | Nasdaq

MIDEAST STOCKS-Major markets gain on vaccine optimism; Saudi eases | Nasdaq Most major Gulf markets traded in positive territory on Monday, as further encouraging news on the COVID-19 vaccine front boosted investor sentiment, although Saudi shares bucked the trend in early trade.In the fight against coronavirus infection, UK drugmaker AstraZeneca AZN.L said its vaccine, developed along with the University of Oxford, could be around 90% effective under one dosing regimen.Before AstraZeneca releas...
Tags: Travel, UK, Saudi Arabia, Qatar, Dubai, Astrazeneca, University of Oxford, Abu Dhabi, Gulf, Commercial Bank, Jabal Omar, Rupert Neil Bumfrey, QSI, Savola Group, Emirates NBD ENBD, Emaar Properties EMAR DU


#AbuDhabi Plans $122 Billion in Oil Spending to Boost Output - Bloomberg

Abu Dhabi Plans $122 Billion in Oil Spending to Boost Output - Bloomberg Abu Dhabi will invest 448 billion dirhams ($122 billion) in oil and natural gas over the next five years as it seeks to raise production capacity, even while OPEC restricts its output.The Gulf emirate’s top body for energy policy, the Supreme Petroleum Council, approved the budget for Abu Dhabi National Oil Co., the state-run WAM news agency reported on Sunday. The investment plan will contribute to growth and expansion “in...
Tags: Travel, Wam, Opec, Bloomberg, United Arab Emirates, Abu Dhabi, Uae, Gulf, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Supreme Petroleum Council, Bloomberg Abu Dhabi


#Qatar leads most Gulf markets higher; Egypt falls | Reuters

Most stock markets in the Middle East ended higher on Sunday, with Qatar’s index leading the gains on a rise in financial shares, while Egypt closed lower.Financial markets globally have been buoyed over the past two weeks by U.S. drugmakers Pfizer and Moderna Inc releasing encouraging news on the effectiveness of their vaccine candidates against the coronavirus.Saudi Arabia’s benchmark index added 0.1%, with Dr Sulaiman Al-Habib Medical Services leaping 5.1% and real estate firm Jabal Omar Deve...
Tags: Travel, Saudi Arabia, Qatar, Egypt, Middle East, United Arab Emirates, Dubai, Pfizer, Gulf, Reuters, Qatar National Bank, Rupert Neil Bumfrey, Industries Qatar, Dubai Islamic Bank, Commercial International Bank, Jabal Omar Development


World Cup Host #Qatar Tries to Build Its Way Out of Covid - Bloomberg

World Cup Host Qatar Tries to Build Its Way Out of Covid - Bloomberg It’s pretty much business as normal at Lusail, a half-built metropolis north of Doha’s main corniche. At least 20 cranes dot the dusty skyline as a dozen workers toil on the roof of a hotel site overlooking a new artificial island. Trucks ply around a giant mound of sand.If the coronavirus, global economic squeeze and the future of hydrocarbons are raising questions about the viability of projects across the Gulf, you’d never k...
Tags: Travel, Qatar, Dubai, Abu Dhabi, Doha, Gulf, Lusail, Rupert Neil Bumfrey, Covid Bloomberg, Host Qatar Tries


#Saudi index leads way among little-changed Gulf markets | Reuters

Major stock markets in the Gulf were little changed on Sunday, though financial shares bolstered the Saudi index.Financial markets globally have been buoyed over the past two weeks by U.S. drugmakers Pfizer and Moderna Inc releasing encouraging news on the effectiveness of their vaccines against the coronavirus.Saudi Arabia’s benchmark index gained 0.5%, led by a 0.3% rise for Al Rajhi Bank and 1.1% increase for Saudi Telecom Company.Dubai’s main index eased 0.1, with Emaar Malls losing 2.2% and...
Tags: Travel, Saudi Arabia, Pfizer, Abu Dhabi, Gulf, Reuters, Rupert Neil Bumfrey, Emaar Malls, Aldar Properties, Al Rajhi Bank, Moderna Inc, Saudi Telecom Company Dubai, Etisalat Qatar


Boosting Gulf’s economy leads to building more art districts, not museums | Financial Times

Boosting Gulf’s economy leads to building more art districts, not museums | Financial Times Is the era of the mega-museum in the Arabian Gulf coming to an end? Over the last 15 years, Qatar and the United Arab Emirates have spent vast amounts of money to erect headline-worthy museums such as the National Museum of Qatar and Louvre Abu Dhabi, both designed by French architect Jean Nouvel.  Now, however, there is a growing emphasis in the region on initiatives that encourage creativity and t...
Tags: Travel, Qatar, United Arab Emirates, Dubai, Financial Times, Jeddah, Gulf, Jean Nouvel, Arabian Gulf, Rupert Neil Bumfrey, Louvre Abu Dhabi, National Museum of Qatar, Antonia Carver, Jameel Arts Centre