Posts filtered by tags: Rupert Neil Bumfrey[x]


 

#Dubai's DGCX, Nasdaq technology deal set to boost region's capital markets | ZAWYA MENA Edition

Dubai's DGCX, Nasdaq technology deal set to boost region's capital markets | ZAWYA MENA Edition:Nasdaq and Dubai Gold & Commodities Exchange (DGCX) has signed an agreement enabling the derivatives exchange to avail a full suite of integrated marketplace solutions via Nasdaq Financial Framework (NFF).The marketplace solutions, delivered via the NFF, are expected to provide DGCX members and their clients with ever-increasing levels of service performance, a statement from DGCX said.The solutions i...
Tags: Travel, Dubai, Nasdaq, NFF, Rupert Neil Bumfrey, DGCX, Dubai Gold Commodities Exchange DGCX, Nasdaq Financial Framework NFF


#Saudi Aramco to press ahead with plan to boost output capacity, CEO says - Reuters

Saudi Aramco to press ahead with plan to boost output capacity, CEO says - Reuters:Saudi Aramco (2222.SE) is moving ahead with plans to boost crude output capacity by 1 million barrels per day (bpd) to 13 million bpd despite cuts in capital expenditure this year and next year, the state oil group’s CEO said on Monday.Aramco’s capital spending plan for 2021 will be “significantly lower than previous guidance,” CEO Amin Nasser also said on a call with analysts and investors after the company’s sec...
Tags: Travel, Reuters, Saudi Aramco, Nasser, Rupert Neil Bumfrey, Amin Nasser, Monday Aramco


Oil settles higher on Chinese factory data, U.S. stimulus hopes - Reuters

Oil settles higher on Chinese factory data, U.S. stimulus hopes - Reuters:Oil settled higher on Monday, supported by data suggesting Chinese factories were returning to pre-pandemic levels, signs of rising energy demand and hopes for an agreement in the United States on more coronavirus-related economic stimulus.Brent crude LCOc1 settled up 59 cents, or 1.3%, to $44.99 a barrel. West Texas Intermediate U.S. crude CLc1 was up 72 cents, or 1.8%, to $41.94 a barrel.Prices also found support after U...
Tags: Travel, United States, Donald Trump, Trump, Reuters, Rupert Neil Bumfrey


COLUMN-Oil market stalls as absence of signals compounds summer slowdown: Kemp - Reuters

COLUMN-Oil market stalls as absence of signals compounds summer slowdown: Kemp - Reuters:Hedge funds’ oil trading largely dried up last week as the normal summer holiday slowdown was compounded by an absence of price or fundamental signals about the future direction of the market. Hedge funds and other money managers purchased the equivalent of 13 million barrels in the six major petroleum futures and options contracts in the week to Aug. 4, after selling 40 million the week before. Portfolio ma...
Tags: Travel, Europe, U S Commodity Futures Trading Commission, Rupert Neil Bumfrey, Kemp Reuters


Aramco’s dividend defences are triple-locked – Breakingviews

Aramco’s dividend defences are triple-locked – Breakingviews: Saudi Aramco has deployed its triple-bottomed dividend defences sooner than expected. The Saudi state energy giant is handing $18.75 billion to investors this quarter even though earnings plunged to little more than a third of that amount. It’s a contrast with rivals BP and Royal Dutch Shell, which both trimmed their payouts. But even if crude demand plunges again, the $1.8 trillion firm has multiple ways of ensuring rewards for shar...
Tags: Travel, China, Royal Dutch Shell, Goldman Sachs, Bp, Aramco, Saudi Aramco, Nasser, Rupert Neil Bumfrey, Saudi Basic Industries, Amin Nasser


Union Properties completes Dh946m debt restructuring deal with Emirates NBD | Property – Gulf News

Union Properties completes Dh946m debt restructuring deal with Emirates NBD | Property – Gulf News:Union Properties, the Dubai developer behind Uptown Mirdiff and other high-end communities, has completed a debt restructuring deal with Emirates NBD. Deal applies to the full Dh946 million outstandings the developer has with the bank.Payment of the initial amount has also been made, as per the terms of the deal.It was on Sunday that Union Properties announced it had put together a three-year turna...
Tags: Travel, Dubai, Emirates NBD, Dubai Autodrome, Rupert Neil Bumfrey, Union Properties, Uptown Mirdiff, Emirates NBD Deal


False invoices at centre of new NMC probe | Financial Times

False invoices at centre of new NMC probe | Financial Times:False invoices and forged documents covering hundreds of millions of dollars worth of purported medicine sales are at the centre of a new investigation into fraudulent raising of debt at NMC Health, the troubled healthcare group. NMC, the largest private healthcare provider in the UAE, was once a rising star on the London Stock Exchange but it collapsed spectacularly earlier this year as it disclosed billions of dollars in unreported de...
Tags: Travel, London Stock Exchange, Uae, Financial Times, NMC, Rupert Neil Bumfrey, NMC Health, BR Shetty, Neopharma


Aramco Still Aims for $15 Billion Deal With India’s Reliance - Bloomberg

Aramco Still Aims for $15 Billion Deal With India’s Reliance - Bloomberg:Saudi Aramco said it’s still working on a deal to buy a $15 billion stake in Reliance Industries Ltd.’s refining and chemicals business, even as lower oil prices forces it to slash investment spending.Mumbai-based Reliance’s shares fell in mid-July after Chairman Mukesh Ambani said a transaction had been delayed “due to unforeseen circumstances in the energy market and the Covid-19 situation.”A deal with Reliance would help...
Tags: Travel, India, Mumbai, Reliance, Aramco, Saudi Aramco, State, Reliance Industries Ltd, Saudi Basic Industries Corp, Mukesh Ambani, Rupert Neil Bumfrey, Amin Nasser, Reliance Bloomberg


Oil rises 1% on #Saudi Aramco's upbeat demand view, Iraq supply cut - Reuters

Oil rises 1% on Saudi Aramco's upbeat demand view, Iraq supply cut - Reuters:Oil prices climbed on Monday, supported by Saudi optimism about Asian demand and an Iraqi pledge to deepen supply cuts, although uncertainty over a deal to shore up the U.S. economic recovery capped gains.Brent crude LCOc1 futures rose 34 cents, or 0.8%, to $44.74 a barrel by 0641 GMT, while U.S. West Texas Intermediate (WTI) crude CLc1 futures were up 47 cents, or 1.1%, to $41.69 a barrel.Both benchmark contracts fell ...
Tags: Travel, Iraq, Brent, Reuters, Aramco, Saudi Aramco, Cmc, Michael McCarthy, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


MIDEAST STOCKS-Most major Gulf markets gain as financials jump - Reuters

MIDEAST STOCKS-Most major Gulf markets gain as financials jump - Reuters:Most major Gulf stock markets advanced in early trade on Monday, supported by gains in their financial shares, although Qatar bucked the regional trend to trade lower.Saudi Arabia’s benchmark index ticked up 0.2%, with Saudi Arabia Fertilizers rising 2.5% and the kingdom’s largest lender, National Commercial Bank, gaining 0.4%.Oil giant Saudi Aramco firmed 0.3%. The state-owned company on Sunday reported a 73% plunge in pro...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Gulf, Reuters, Saudi Aramco, Emaar Properties, Rupert Neil Bumfrey, Dubai Islamic Bank, National Commercial Bank


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

European, Middle Eastern & African Stocks - Bloomberg:Updated stock indexes in Europe, Middle East & Africa. Get an overview of major indexes, current values and stock market data in Europe, UK, Germany, Russia & more. [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Europe Middle East Africa, Rupert Neil Bumfrey, Europe UK Germany Russia, Bloomberg UAE SaudiArabia Qatar


MIDEAST STOCKS-Egypt outperforms Mideast markets; Aramco's Q2 profit slides - Reuters

MIDEAST STOCKS-Egypt outperforms Mideast markets; Aramco's Q2 profit slides - Reuters:The Egyptian bourse rose sharply onSunday, extending gains for a fifth straight session as most ofits constituents were in positive territory, while the Saudiindex ended higher helped by its financial shares.Saudi Arabia's benchmark index rose 0.4%, led by a0.8% gain in Al Rajhi Bank and a 1.5% increase inBanque Saudi Fransi.Elsewhere, state-owned oil company Saudi Aramcoadded 0.3% despite reporting a steep dec...
Tags: Travel, Saudi Arabia, Egypt, Reuters, Aramco, Mideast, Rupert Neil Bumfrey, Al Rajhi Bank, Amin Nasser, Saudi Aramcoadded


Oil Giant Aramco Sticks With Dividend Even as Profit Crashes - Bloomberg

Oil Giant Aramco Sticks With Dividend Even as Profit Crashes - Bloomberg:Saudi Arabia’s state-controlled oil giant pressed ahead with a plan to pay $75 billion in dividends this year despite crashing profit and a surge in debt, as the kingdom battles a widening budget deficit.Saudi Aramco, which Apple Inc. recently dethroned as the world’s most valuable listed company, said net income in the three months ending in June was 24.6 billion riyals ($6.6 billion), down 73% from a year earlier, accordi...
Tags: Travel, Saudi Arabia, Bloomberg, Apple Inc, Aramco, Saudi Aramco, Rupert Neil Bumfrey, Amin Nasser


#SaudiArabia Has Turned Off the U.S. Oil Taps Again - Bloomberg

Saudi Arabia Has Turned Off the U.S. Oil Taps Again - Bloomberg:For the second time in three years, Saudi Arabia is slashing the volume of crude it’s sending to America in an attempt to force down stockpiles in the world’s most visible oil market and thereby hasten the rebalancing of supply and demand.Weekly U.S. oil inventory data — usually published on a Wednesday and covering the period up to the previous Friday — is routinely pored over by oil analysts and traders alike. Despite their shortc...
Tags: Travel, Saudi Arabia, America, Riyadh, Rupert Neil Bumfrey, U S Oil Taps Again Bloomberg


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

European, Middle Eastern & African Stocks - Bloomberg:Updated stock indexes in Europe, Middle East & Africa. Get an overview of major indexes, current values and stock market data in Europe, UK, Germany, Russia & more. [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Europe Middle East Africa, Rupert Neil Bumfrey, Europe UK Germany Russia, Bloomberg UAE SaudiArabia Qatar


MIDEAST STOCKS-Major Gulf markets mixed; Aramco's Q2 profit declines - Reuters

MIDEAST STOCKS-Major Gulf markets mixed; Aramco's Q2 profit declines - Reuters:Dubai’s stock market traded lower early on Sunday, hurt by losses at financials and property shares, while other major bourses in the Gulf were little changed.Saudi Arabia’s benchmark index rose 0.3%, with Al Rajhi Bank gaining 0.7%, while oil giant Saudi Aramco was up 0.3% despite reporting a fall in second-quarter profit.Aramco’s net profit fell to 24.6 billion riyals ($6.56 billion) for the quarter to June 30 from ...
Tags: Travel, Saudi Arabia, Dubai, Gulf, Reuters, Aramco, Saudi Aramco, Emaar Properties, Rupert Neil Bumfrey, Al Rajhi Bank, Emirates NBD Bank, COVID


#AbuDhabi's Mubadala reports 7% stake in Virgin Galactic | ZAWYA MENA Edition

Abu Dhabi's Mubadala reports 7% stake in Virgin Galactic | ZAWYA MENA Edition:Abu Dhabi state fund Mubadala Investment Co on Friday reported an over 7% stake in space tourism company Virgin Galactic Holdings Inc.The fund said it acquired the shares for investment purposes, according to a regulatory filing.Earlier this week, Virgin Galactic said its billionaire founder Richard Branson will fly into space on its rocketship early next year. The company had also said it would raise new funds with a ...
Tags: Travel, Virgin Galactic, Richard Branson, Abu Dhabi, Rupert Neil Bumfrey, Mubadala, Abudhabi, Mubadala Investment Co, Virgin Galactic Holdings Inc


#UAE central bank temporarily relaxes rules on liquidity, funding for banks | ZAWYA MENA Edition

UAE central bank temporarily relaxes rules on liquidity, funding for banks | ZAWYA MENA Edition:The United Arab Emirates' central bank said on Saturday it was temporarily relaxing two key requirements to improve liquidity and funding needs of banks to encourage them to lend more to businesses under the COVID-19 economic stimulus plan.Banks will be allowed to go below the 100% 'net stable funding ratio' (NSFR) but not below 90%, and above the 100% requirement for 'advances to stable resources rat...
Tags: Travel, United Arab Emirates, Uae, Rupert Neil Bumfrey, COVID


Yara expects $1 billion #Qatar sales proceeds by end-August - Reuters

Yara expects $1 billion Qatar sales proceeds by end-August - Reuters:Yara (YAR.OL), one of the world’s largest fertiliser-makers, expects to finalise its long-awaited sale of a stake in Qatar Fertiliser Company later this month, a senior executive at the Norwegian firm said on Friday.In its earnings report for the second quarter, released on July 17, Yara had said it expected to complete the $1 billion transaction “within 2-3 weeks”, followed by a share buyback program, leading some analysts to ...
Tags: Travel, Qatar, Reuters, Yara, Rupert Neil Bumfrey, Qatar Petroleum, QAFCO, Qatar Fertiliser Company, Thor Giaever


Oil slips below $45/bbl on demand concerns but posts weekly rise - Reuters

Oil slips below $45/bbl on demand concerns but posts weekly rise - Reuters:Oil prices fell nearly 2% on Friday, limiting their weekly gain due to concerns the global recovery could falter from a resurgence of coronavirus cases.The rise in infections remains the dominant issue for the fuel demand outlook. Cases in the United States are still rising in a number of states, while India recently reported a record daily jump in infections. More than 700,000 people have died in the worldwide pandemic.B...
Tags: Travel, India, United States, Wti, Reuters, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


Oil industry reels from historic crash | Financial Times

Oil industry reels from historic crash | Financial Times:The first half of 2020 has been brutal for the oil industry: global demand dropped almost a third at one stage, a market share war brought an onslaught of Saudi crude and US prices collapsed below zero for the first time.Oil producers’ recent second-quarter earnings reflect this damage, with both global supermajors and US independents writing down assets and posting huge losses.As the charts below show, deep spending cuts point to a sector...
Tags: Travel, US, Financial Times, Rupert Neil Bumfrey


Asian Refiners to Ask for Less Crude After Saudi Cut Underwhelms - Bloomberg

Asian Refiners to Ask for Less Crude After Saudi Cut Underwhelms - Bloomberg:Several Asian refiners struggling with weakening demand will ask Saudi Arabia for less crude next month after the kingdom cut official selling prices by a smaller amount than the processors had been hoping for.At least three buyers are planning to request less oil from Saudi Aramco for September, according to company officials with knowledge of their crude procurement. Three others expressed disappointment at the size o...
Tags: Travel, Saudi Arabia, China, India, Bloomberg, Sinopec, Saudi Aramco, Rupert Neil Bumfrey


#UAE to implement 'flexible' plans to revitalise economy | Business – Gulf News

UAE to implement 'flexible' plans to revitalise economy | Business – Gulf News:In a continuation of the UAE's economic relief measures, the UAE Ministry of Economy is to implement a "flexible package and plan" to support various sectors.The plan seeks to create a more flexible economic environment "conducive to provide new opportunities and encourage investments in future sectors in support to the UAE's strategic vision and direction," the Minister said in a statement.The timeframe of the plan i...
Tags: Travel, Cabinet, Uae, Committee, UAE Cabinet, Rupert Neil Bumfrey, UAE Ministry of Economy, Abdulla Bin Touq Al Marri


Iraq Commits to Deep Oil Cuts as OPEC+ Ramps Up Pressure - Bloomberg

Iraq Commits to Deep Oil Cuts as OPEC+ Ramps Up Pressure - Bloomberg:Iraq made its strongest commitment yet to implement deep cuts in crude production after the country’s oil minister and his Saudi counterpart held a phone call Thursday.OPEC’s second-biggest producer -- and a long-time laggard in meeting oil-output quotas -- has faced mounting pressure to boost its compliance as the group’s patience wears thin. The country failed to meet its production-cut target in May and June, and removed jus...
Tags: Travel, Iraq, Opec, Bloomberg, Baghdad, Rupert Neil Bumfrey, Abdulaziz bin Salman, Saudi Energy, Ihsan Abdul Jabbar


#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


Oil slips to $45 on demand concerns, set for weekly rise - Reuters

Oil slips to $45 on demand concerns, set for weekly rise - Reuters:Oil dipped to around $45 a barrel on Friday on worries that a demand recovery would slow due to a resurgence of coronavirus cases, although a pledge from OPEC member Iraq to cut oil output further in August lent support.The resurgence of infections remains a key issue for the market and demand outlook. Tallies show cases in the United States are rising in a number of states. India reported on Friday a record daily jump in infecti...
Tags: Travel, Iraq, India, Opec, United States, Donald Trump, Reuters, U S Congress, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


Travelex falls into administration, with loss of 1,300 jobs | Business | The Guardian

Travelex falls into administration, with loss of 1,300 jobs | Business | The Guardian:Foreign exchange firm Travelex has collapsed into administration, with the immediate loss of more than 1,300 jobs. Advisory firm PwC has been appointed to carry out a complex restructuring deal and pre-pack administration, which allows buyers to cherry-pick the best assets and ditch those they don’t want.The administrators said the impact of a cyber-attack in December and the ongoing Covid-19 pandemic had “acut...
Tags: Travel, UK, Asia Pacific, Pwc, Travelex, Rupert Neil Bumfrey, Brazil Middle East, Turkey Nigeria


Oil settles below 5-month highs amid fuel demand worries - Reuters

Oil settles below 5-month highs amid fuel demand worries - Reuters:Oil prices hovered below five-month highs on Thursday, falling after a session in which bearish sentiment about fuel demand counteracted optimism about Iraq’s supply cuts, pushing the benchmarks in and out of positive territory. Concerns remain that demand is depressed by the economic slowdown due to the coronavirus pandemic, said Phil Flynn, senior analyst at Price Futures Group in Chicago.“Everyone is waiting for the coronaviru...
Tags: Travel, Iraq, Chicago, Reuters, Rupert Neil Bumfrey, Phil Flynn, Price Futures Group


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

European, Middle Eastern & African Stocks - Bloomberg:Updated stock indexes in Europe, Middle East & Africa. Get an overview of major indexes, current values and stock market data in Europe, UK, Germany, Russia & more. [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Europe Middle East Africa, Rupert Neil Bumfrey, Europe UK Germany Russia, Bloomberg UAE SaudiArabia Qatar


#Saudi Chemical Maker Sabic Expects Recovery Following Loss - Bloomberg

Saudi Chemical Maker Sabic Expects Recovery Following Loss - Bloomberg:Saudi Basic Industries Corp., the chemical maker in which Saudi Arabia’s state oil giant holds a majority stake, sees a better second half after posting its biggest quarterly loss in at least a decade.The coronavirus pandemic has throttled global demand this year, with widespread lockdowns curbing consumption of plastics, cosmetics and other products made with petrochemicals. But there are signs of recovery already in the sec...
Tags: Travel, Saudi Arabia, Opec, Bloomberg, SABIC, Saudi Basic Industries Corp, Rupert Neil Bumfrey, Al Benyan, Yusef Al Benyan