Posts filtered by tags: Rupert Neil Bumfrey[x]


 

The #UAE and #Israel's whirlwind honeymoon has gone beyond normalization - CNN

The UAE and Israel's whirlwind honeymoon has gone beyond normalization - CNN "Ties between Israel and the United Arab Emirates are 'blossoming,'" a senior official traveling with US Secretary of State Mike Pompeo told reporters last month. Blossoming is, perhaps, an understatement. Since the 1978 Camp David Accords, Israel has "normalized" relations with Egypt, Jordan (1994), Mauritania (1999), and most recently, the UAE and Bahrain. Last month Israel and Sudan also signed an agreement to normal...
Tags: Travel, Israel, US, Cnn, Egypt, West Bank, United Arab Emirates, Sudan, Bahrain, Uae, Mauritania, State, Golan Heights, Egypt Jordan, Jordan Syria, Mike Pompeo


Oil Advances Toward $50 After OPEC+ Clinches Compromise Deal - Bloomberg

Oil Advances Toward $50 After OPEC+ Clinches Compromise Deal - Bloomberg Oil extended gains toward $50 a barrel after OPEC+ reached a compromise deal to gradually taper production cuts, ending days of uncertainty after cracks emerged in the alliance earlier in the week.Futures surged 1.9% in London after closing at the highest level in nine months on Thursday. The group will start adding 500,000 barrels a day of crude to the market in January, with ministers holding monthly meetings to de...
Tags: Travel, London, Saudi Arabia, Opec, Bloomberg, United Arab Emirates, Rupert Neil Bumfrey, Bloomberg Oil


‘The worst is behind us’: #Saudi Aramco CEO | ZAWYA MENA Edition

‘The worst is behind us’: Saudi Aramco CEO | ZAWYA MENA Edition The oil industry is recovering from the impact of the coronavirus pandemic and “the worst is behind us,” Saudi Aramco’s President and CEO, Amin Nasser, told an award ceremony in Riyadh on Thursday.“April was by far the worst month for our industry when oil demand fell. Such a massive drop was never seen at any time in the industry. But I believe the worst is behind us. At this moment there is a recovery taking place,” Nasser said...
Tags: Travel, Riyadh, Aramco, Saudi Aramco, Nasser, Rupert Neil Bumfrey, Amin Nasser


OPEC+ agrees slight easing of oil cuts from January | Reuters

OPEC+ agrees slight easing of oil cuts from January | Reuters OPEC and Russia on Thursday agreed to slightly ease their deep oil output cuts from January by 500,000 barrels per day but failed to find a compromise on a broader and longer term policy for the rest of next year.The increase means the Organization of the Petroleum Exporting Countries and Russia, a group known as OPEC+, would move to cutting production by 7.2 million bpd, or 7% of global demand from January, compared with current cuts...
Tags: Travel, Saudi Arabia, Russia, Opec, Reuters, Organization of the Petroleum Exporting Countries, Reuters OPEC, Rupert Neil Bumfrey


OPEC+ Clinches Compromise on Gradual Easing of Output Cuts - Bloomberg

OPEC+ Clinches Compromise on Gradual Easing of Output Cuts - Bloomberg OPEC+ agreed to ease oil-output cuts next year after almost a week of fraught negotiations that exposed a new rift at the heart of the cartel.The group will add 500,000 barrels a day of production to the market in January, and ministers will then hold monthly consultations to decide on the next steps.That’s a much shorter time frame than OPEC+ usually operates under, and before this week the expectation had been that the grou...
Tags: Travel, Saudi Arabia, Opec, Bloomberg, United Arab Emirates, Rupert Neil Bumfrey, Abdulaziz bin Salman, Bloomberg OPEC


Brent rises to highest since March after OPEC+ output cut deal | Reuters

Brent rises to highest since March after OPEC+ output cut deal | Reuters Global benchmark Brent crude prices rose 1% to their highest since early March on Thursday on renewed hopes for a U.S. stimulus deal and after major oil producers agreed to increase output by a modest 500,000 barrels per day (bpd) from January.The increase means the Organization of the Petroleum Exporting Countries (OPEC) and Russia, a group known as OPEC+, would move to cutting production by 7.2 million bpd, or 7% of globa...
Tags: Travel, Russia, Opec, Reuters, Reuters Global, Rupert Neil Bumfrey, Paola Rodriguez Masiu, Rystad Energy Brent


European, Middle Eastern & African Stocks - Bloomberg #Kuwait #Israel #SaudiArabia #Qatar close

European, Middle Eastern & African Stocks - Bloomberg #Kuwait #Israel #SaudiArabia #Qatar close [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Qatar, Rupert Neil Bumfrey, Bloomberg Kuwait Israel


A Middle East Make-Up Proves Complicated - Bloomberg #Qatar #SaudiArabia #UAE

A Middle East Make-Up Proves Complicated - Bloomberg #Qatar #SaudiArabia #UAE The Saudi-led attempt to ostracize Qatar might now yield a foreign policy win for a U.S. president looking to embellish his legacy while maintaining he didn’t lose an election.But as talks brokered by the Trump administration edge closer toward a deal, the healing of the Saudi-Qatar rift has exposed strains in another relationship between Gulf neighbors that could have more lasting implications.Conspicuous by its abse...
Tags: Travel, Saudi Arabia, Israel, Qatar, United Arab Emirates, Yemen, Gulf, Trump, Rupert Neil Bumfrey


#Saudi Business Climate at 10-Month High; Egypt Growth Slows - Bloomberg

Saudi Business Climate at 10-Month High; Egypt Growth Slows - Bloomberg Business activity in Saudi Arabia grew at the fastest pace since the beginning of the year, fueled by a sharp rise in sales and strengthening sentiment.In Egypt, activity posted a third month of growth but at a slower rate, as confidence for the year ahead hit a record low on fears over the impact of a second wave of the virus on global markets.Non-oil private sector activity in Saudi Arabia rose to the highest level since J...
Tags: Travel, Saudi Arabia, Egypt, Rupert Neil Bumfrey, IHS Markit


#Saudi Wealth Fund Seeks Up to $7 Billion Loan for New Deals - Bloomberg

Saudi Wealth Fund Seeks Up to $7 Billion Loan for New Deals - Bloomberg Saudi Arabia’s sovereign wealth fund plans to raise as much as $7 billion in loans as it seeks cash for new investments, according to people familiar with the matter.The Public Investment Fund has approached international banks to participate in a U.S. dollar revolving facility of between $5 billion and $7 billion, the people said, asking not to be identified as the information is private. The PIF aims to complete the fundra...
Tags: Travel, Pif, Rupert Neil Bumfrey, Public Investment Fund, New Deals Bloomberg, New Deals Bloomberg Saudi Arabia


European, Middle Eastern & African Stocks - Bloomberg #Kuwait #Israel #SaudiArabia #Qatar mid-session

European, Middle Eastern & African Stocks - Bloomberg #Kuwait #Israel #SaudiArabia #Qatar mid-session [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Qatar, Rupert Neil Bumfrey, Kuwait Israel


OPEC+ Said to Focus on Proposals for Gradual Taper of Cuts - Bloomberg

OPEC+ Said to Focus on Proposals for Gradual Taper of Cuts - Bloomberg OPEC+ is making headway in its negotiations on oil-output cuts, raising the odds that Thursday’s meeting can salvage a deal after failed talks earlier in the week.After days of direct negotiations between the group’s heavyweights -- Russia, Saudi Arabia and the United Arab Emirates -- discussions are now focusing on proposals for gradual easing of output cuts over several months, said a delegate. It’s unclear whether the tape...
Tags: Travel, Saudi Arabia, Opec, Bloomberg, United Arab Emirates, Uae, Organization of Petroleum Exporting Countries, Russia Saudi Arabia, Rupert Neil Bumfrey, Bloomberg OPEC


#Saudi shares fall on weak oil; set for weekly loss | Reuters

Saudi shares fall on weak oil; set for weekly loss | Reuters Saudi shares eased in early trade on Thursday and were set for a weekly loss, tracking weaker oil prices, while other Gulf markets rode on euphoria around encouraging coronavirus vaccine developments.Oil prices fell as producers including Saudi Arabia and Russia locked horns over the need to extend record production cuts set in place in the first wave of the COVID-19 pandemic. [O/R]The Organization of the Petroleum Exporting Countries ...
Tags: Travel, Saudi Arabia, Russia, Qatar, Britain, Dubai, Abu Dhabi, Kuwait, Gulf, Reuters, Saudi Aramco, Saudi Basic Industries Corp, Petroleum Exporting Countries OPEC, Qatar National Bank, Rupert Neil Bumfrey, Industries Qatar


Oil gains as OPEC+ resumes output cut extension talks after impasse | Reuters

Oil gains as OPEC+ resumes output cut extension talks after impasse | Reuters Oil prices rose on Thursday as producers including Saudi Arabia and Russia locked horns over the need to extend record production cuts set in place in the first wave of the COVID-19 pandemic.Brent crude was up 21 cents, or 0.4%, at $48.46 a barrel by 0802 GMT, after gaining 1.8% on Wednesday. U.S. oil was 11 cents, or 0.2%, higher at $45.39 a barrel, having ended 1.6% higher the previous session.The Organization of the...
Tags: Travel, Saudi Arabia, Russia, Opec, Reuters, Reuters Oil, Petroleum Exporting Countries OPEC, Rupert Neil Bumfrey


#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


OPEC+ Makes Headway on Oil-Output Deal After Days of Talks - Bloomberg

OPEC+ Makes Headway on Oil-Output Deal After Days of Talks - Bloomberg OPEC+ has made headway toward a deal on oil-output cuts, the first sign of progress after failed talks earlier this week.After days of direct negotiations between the group’s heavyweights -- Russia, Saudi Arabia and the United Arab Emirates -- details of any potential compromise still weren’t immediately clear. It was too early to say whether the progress would translate into a final deal, delegates said, asking not to be nam...
Tags: Travel, New York, Saudi Arabia, Opec, Bloomberg, United Arab Emirates, Uae, Organization of Petroleum Exporting Countries, Russia Saudi Arabia, Rupert Neil Bumfrey


Oil prices rise on UK vaccine approval; signs OPEC+ may maintain output cuts | Reuters

Oil prices rise on UK vaccine approval; signs OPEC+ may maintain output cuts | Reuters Oil prices settled higher on Wednesday as Britain’s approval of a COVID-19 vaccine boosted hopes for a demand recovery and on mounting expectations that producing countries will maintain output limits next year.Brent crude oil futures settled up 83 cents, or 1.75%, at $48.25 a barrel. West Texas Intermediate crude settled up 73 cents or 1.64% at $45.28 a barrel.Traders were watching OPEC+, the Organization of ...
Tags: Travel, UK, Russia, Opec, Britain, Reuters, Reuters Oil, Associates, Petroleum Exporting Countries OPEC, Jim Ritterbusch, Galena Illinois, Rupert Neil Bumfrey, Ritterbusch


Column: Positive oil outlook draws in fund managers | Reuters

Column: Positive oil outlook draws in fund managers | Reuters Hedge funds are becoming increasingly bullish on the outlook for oil prices, anticipating that early deployment of coronavirus vaccines will allow a rapid resumption of more normal travel patterns.Ultra-loose fiscal and monetary policies are also expected to promote a progressive recovery from the massive cyclical downturn in business activity experienced in 2020, giving a big boost to petroleum consumption.Global petroleum inventorie...
Tags: Travel, Opec, Reuters, Reuters Hedge, Rupert Neil Bumfrey


#Saudi ends lower on weak oil, others gain on UK vaccine nod | Reuters

Saudi ends lower on weak oil, others gain on UK vaccine nod | Reuters Saudi shares retreated for a second straight session on Wednesday, tracking weaker oil prices, while some markets cheered Britain’s approval of Pfizer’s COVID-19 vaccine, which raised hopes of a faster-than-expected global economic recovery.Britain became the West’s first country to formally endorse a jab it said should reach the most vulnerable people early next week.However, oil prices slipped as the market awaited a pact fr...
Tags: Travel, UK, Opec, Qatar, West, Britain, United States, Dubai, Pfizer, Abu Dhabi, Bahrain, Kuwait, Reuters, Riyad Bank, Qatar National Bank, Rupert Neil Bumfrey


#SaudiArabia News: Life After Aramco Includes Plenty More IPOs for Saudi Arabia - Bloomberg

Saudi Arabia News: Aramco IPO Opens Doors for More Listings on Tadawul Exchange - Bloomberg One year on from oil giant Saudi Aramco’s record-busting initial public offering in Riyadh, the exchange has continued to enjoy a steady stream of listings. And deals are already lining up for 2021.For years, the twists and turns leading up to Aramco’s listing dominated Saudi Arabia’s IPO market. The decision to float on Riyadh’s Tadawul exchange and to largely forgo international investors sparked concer...
Tags: Travel, Saudi Arabia, Germany, Dubai, Riyadh, Aramco, Saudi Aramco, Tadawul, Rupert Neil Bumfrey, Saudi Arabia Bloomberg, Tarek Fadlallah, Bloomberg That, Nomura Asset Management 's Middle Eastern


European, Middle Eastern & African Stocks - Bloomberg #Kuwait #Israel #SaudiArabia #Qatar mid-session

European, Middle Eastern & African Stocks - Bloomberg #Kuwait #Israel #SaudiArabia #Qatar mid-session [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Qatar, Rupert Neil Bumfrey, Kuwait Israel


How Biden Can Safely Help #Iran’s Economy - Bloomberg

How Biden Can Safely Help Iran’s Economy - Bloomberg After the assassination of its top nuclear scientist last week, the leadership of the Islamic Republic is expected to hold off domestic pressures for retribution, and instead hold out for some consideration from the incoming administration of President-elect Joe Biden. The regime knows any retaliatory strike — whether directly against Israel, which it blames for Mohsen Fakhrizadeh’s killing, or more symbolically against American or Arab target...
Tags: Travel, Washington, Israel, Joe Biden, Iran, Middle East, Hassan Rouhani, Biden, Tehran, Donald Trump, Trump, Islamic Republic, Rouhani, Rupert Neil Bumfrey, Islamic Revolutionary Guard Corps, Economy Bloomberg


Turkey Wealth Fund sees Borsa Istanbul IPO in two years - CEO | Reuters

Turkey Wealth Fund sees Borsa Istanbul IPO in two years - CEO | Reuters The CEO of Turkey Wealth Fund said on Tuesday he expects to launch an initial public offering for Borsa Istanbul in the next two years, a day after the fund sold 10% of its shares to the Qatar Investment Authority (QIA).In an interview with broadcaster Bloomberg HT, Chief Executive Zafer Sonmez said the fund’s stake in the country’s exchange operator would not fall below 51%.The implied value of Borsa Istanbul in the transac...
Tags: Travel, Bloomberg, Turkey, Qatar Investment Authority, Reuters, Rupert Neil Bumfrey, Borsa Istanbul, Sonmez, Zafer Sonmez, Borsa Istanbul IPO, Turkey Wealth Fund


#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


#Dubai external trade doubled ten times to $346bln since 2000 | ZAWYA MENA Edition

Dubai external trade doubled ten times to $346bln since 2000 | ZAWYA MENA Edition Dubai non-oil external trade has doubled about ten times between 2000 and 2019 rising from AED143 billion in 2000 to AED1.271 trillion in 2019. In the first half of 2020, Dubai trade made around AED551 bn, according to trade figures released by Dubai Customs on the occasion of the UAE 49th National Day celebrations.The figures reflected the significant role the oldest government department played in developing and ...
Tags: Travel, Dubai, Dubai International Airport, Dubai Customs, Rupert Neil Bumfrey, Customs Centres, Dubai Creek Port Rashid, Jebel Ali Customs Centre With, Al Maktoum Airport Air Cargo Customs


Oil prices slip but traders cheer vaccine approval | Reuters

Oil prices slip but traders cheer vaccine approval | Reuters Oil prices fell early on Wednesday but later pared some of the losses on news that Britain has become the first country in the world to approve a vaccine for use and that it will be rolled out from early next week.Prices had been hit earlier by a surprise build in oil inventories in the United States and as OPEC and its allies left markets in limbo by delaying a formal meeting to decide whether to increase output in January.Brent crude...
Tags: Travel, Opec, Britain, United States, Reuters, Reuters Oil, American Petroleum Institute, Rupert Neil Bumfrey, Petroleum Exporting Countries OPEC Russia


Oil slides as OPEC+ delays decision on output cuts | Reuters

Oil slides as OPEC+ delays decision on output cuts | Reuters Oil prices extended losses to a second day on Tuesday after OPEC and its allies left markets in limbo by postponing a formal meeting to decide whether to lift output come January.Brent crude ended the session down 46 cents, or 1%, at $47.42 a barrel, while U.S. West Texas Intermediate settled down 79 cents, or 1.7%, at $44.55.The Organization of the Petroleum Exporting Countries, Russia and other allies, a group known as OPEC+, delayed...
Tags: Travel, Saudi Arabia, Russia, Opec, Reuters, Reuters Oil, Rupert Neil Bumfrey, Petroleum Exporting Countries Russia


OPEC Splits at Its Core, Risking Deal That Underpins Oil Price - Bloomberg

OPEC Splits at Its Core, Risking Deal That Underpins Oil Price - Bloomberg The successful OPEC+ deal that’s supported the oil market since the price crash earlier this year is threatened by a new fissure at the heart of the cartel.Unusual tensions between Saudi Arabia and the United Arab Emirates -- longtime OPEC stalwarts and close allies -- have prevented what was widely expected to be a routine agreement to delay a production increase scheduled for January. Instead of a deal, a ministerial vi...
Tags: Travel, Saudi Arabia, Opec, Bloomberg, United Arab Emirates, Bloomberg Television, Rupert Neil Bumfrey, Energy Aspects Ltd, Amrita Sen


Coronavirus Oil Quotas: OPEC's Lost Its Team Spirit - Bloomberg

Coronavirus Oil Quotas: OPEC's Lost Its Team Spirit - Bloomberg OPEC's historic output agreement may be teetering on the edge of collapse. It wouldn’t be in the interest of a single cartel member, but then nor was letting that last deal implode in March. Ignoring the risk of another breakdown seems blinkered.What was meant to be a pretty straightforward meeting of the Organization of Petroleum Exporting Countries broke up spectacularly on Monday. So they pushed back a gathering with their OPEC+ ...
Tags: Travel, Saudi Arabia, Opec, United Arab Emirates, Uae, Organization of Petroleum Exporting Countries, Rupert Neil Bumfrey