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Network International Confirms Plan to Proceed With London IPO - Bloomberg

Network International Confirms Plan to Proceed With London IPO - Bloomberg:Middle Eastern payment processor Network International plans to list its shares in London next month in the first big initial public offering in the U.K. this year. Indicative price range, together with the maximum number of shares to be sold in the offer, will be determined in due course, the company said in a statement. Network International intends to have a free float of at least 25 percent of its issued share capital...
Tags: Travel, London, Ipo, Dubai, General Atlantic, Warburg Pincus, Rupert Neil Bumfrey, Network International, Emirates NBD PJSC, IPO Bloomberg


#AbuDhabi's Mubadala Explores Asia Investments and Partnerships - Bloomberg

Abu Dhabi's Mubadala Explores Asia Investments and Partnerships - Bloomberg:Abu Dhabi’s Mubadala Investment Co., which has committed $15 billion to SoftBank Group Corp.’s Vision Fund, is exploring investments and new partnerships in Asia.The fund is looking at sectors including hi-tech industries, artificial intelligence, health care, real estate, as well as traditional private equity, Mubadala’s deputy group Chief Executive Officer Waleed Al Mokarrab Al Muhairi said in an interview with Bloombe...
Tags: Travel, Asia, Hong Kong, Singapore, Abu Dhabi, Bloomberg TV, Rupert Neil Bumfrey, Mubadala, Mubadala Investment Co, SoftBank Group Corp 's Vision Fund, Partnerships Bloomberg, Waleed Al Mokarrab Al Muhairi, Hong Kong China Japan, Al Muhairi


Family Office With London Roots Goes on Global Buying Spree - Bloomberg

Family Office With London Roots Goes on Global Buying Spree - Bloomberg:Alvarium Investments, a multifamily office with stakes in some City of London hotels, has snapped up five small wealth-management firms in the past eight months, adding about $1 billion in client assets. The latest acquisition was Paris-based asset manager Iskander, Alvarium said in a statement Thursday that didn’t include terms. Other recent purchases include U.K.-based Casteel Capital in February, Swiss multifamily office ...
Tags: Travel, Hong Kong, New York, London, Paris, New Zealand, Rupert Neil Bumfrey, Dilmun, LJ Partnership, Peterson Group, Iskander Alvarium, Casteel Capital


#Dubai Buyers Still Love Emaar Villas as 2018 Sales Almost Double - Bloomberg

Dubai Buyers Still Love Emaar Villas as 2018 Sales Almost Double - Bloomberg:Dubai’s property market’s woes aren’t denting appetite for villas just yet.Emaar Properties PJSC said on Thursday revenue from villa sales jumped 90 percent last year to 7.84 billion dirhams ($2.13 billion), the biggest increase across its property segments, according to a breakdown of the 2018 earnings originally released last month.Home prices and rents have dropped by as much as a third since peaking in 2014 in Dubai...
Tags: Travel, Middle East, Dubai, Rupert Neil Bumfrey, Emaar Properties PJSC


Saudis Spiral Deeper Into Isolation Amid U.S. Ire Over #Khashoggi - Bloomberg

Saudis Spiral Deeper Into Isolation Amid U.S. Ire Over Khashoggi - Bloomberg:Saudi Crown Prince Mohammed Bin Salman’s U.S. trip a year ago was packed with the sort of events most world leaders struggle to secure: a meeting at Bill Gates’s home, a tour of Amazon.com Inc.’s headquarters and a private visit to Virgin Galactic’s hangar in the Mojave Desert.The murder of Jamal Khashoggi destroyed all that, leaving the 33-year-old heir to the Saudi throne shunned, his government unable to repair ties ...
Tags: Travel, Washington Post, Saudi Arabia, Senate, Virgin Galactic, Bill Gates, Yemen, Mohammed bin Salman, Amazon com Inc, Mojave Desert, Rupert Neil Bumfrey, Khashoggi, Jamal Khashoggi, Khashoggi Bloomberg


Emaar Propertes' shares drop after firm proposes 15% dividend | ZAWYA MENA Edition

:Emaar Properties, Dubai's largest listed developer, has proposed a 15 percent dividend for the year 2018, in line with estimates.In a statement to the Dubai exchange, the company said that its board of directors has recommended to distribute dividends to its shareholders amounting to 1.07 billion United Arab Emirates dirhams ($291 million), or 15 fils per share, which was in line with an estimate by broker Arqaam Capital.The company announced a full-year net profit for last year of 6.11 billion...
Tags: Travel, Dubai, Rupert Neil Bumfrey, Emaar Properties Dubai, Emaar Propertes


Corrected: Badwa Capital’s new investment arm targets education, healthcare and logistics sectors | ZAWYA MENA Edition

Corrected: Badwa Capital’s new investment arm targets education, healthcare and logistics sectors | ZAWYA MENA Edition:The new investment management company launched by Dubai-based Badwa Capital last month will target investments in physical infrastructure in areas such as education, healthcare and logistics, one of the firm’s partners has said.The company announced its entry to the investment management business last month, with its press release stating that the business is “anchored with $100...
Tags: Travel, Middle East, Dubai, Dubai Financial Services Authority, Rupert Neil Bumfrey, Zawya, Badwa Capital, Abdulaziz Alfalih


MIDEAST STOCKS- #Saudi near-4 year high days after entering FTSE Russell index | Reuters

MIDEAST STOCKS-Saudi near-4 year high days after entering FTSE Russell index | Reuters:All of Saudi Arabia's banks rose onThursday, lifting its stock exchange to a near-four year highfollowing its inclusion in the FTSE Russell's emerging-marketindex this week.Saudi's Tadawul index will have a weighting of 2.9percent in the FTSE Emerging All Cap Index and this year willjoin the MSCI emerging market benchmark. The market ispositioned for passive fund inflows of around $20 billion.Saudi Arabia's in...
Tags: Travel, Saudi Arabia, Reuters, Tadawul, MSCI, Russell, Riyad Bank, Rupert Neil Bumfrey, Al Rajhi Bank


New shipping rules leave oil traders strangely paralysed | Financial Times

New shipping rules leave oil traders strangely paralysed | Financial Times:It does not take a huge shift in supply or demand to unsettle the 100m barrel-a-day global oil market, with most of the big price swings of the past two decades caused by one side of the equation moving out of alignment by 2 per cent or less.So it’s little surprise that a looming shift in the global shipping fuel market, which makes up about 3 per cent of the total oil market, has caught the attention of traders.The Inter...
Tags: Travel, Un, International Maritime Organization, Financial Times, Rupert Neil Bumfrey


Revolutionary Guards drill into Iran’s gas potential | Financial Times

Revolutionary Guards drill into Iran’s gas potential | Financial Times:Iran’s Revolutionary Guards are looking to fill a vacuum in the energy sector created by western companies that pulled out of the Islamic republic following the reimposition of US sanctions.Saeed Mohammad, head of Khatam-ul-Anbia, the construction arm of the elite force, said his organisation was ready to replace Total, the French company, in the development of phase 11 of the South Pars gasfield, the republic’s flagship hydr...
Tags: Travel, US, Iran, Financial Times, Rupert Neil Bumfrey, Islamic Revolutionary Guard Corps, South Pars, Saeed Mohammad, Khatam ul Anbia


Landmark for Saudi stocks as index providers become kingmakers | Financial Times

Landmark for Saudi stocks as index providers become kingmakers | Financial Times:A landmark year for Saudi Arabia’s stock market will have little to do with Saudi Aramco, the country’s oil giant whose IPO plan has been put on hold.Instead, the world’s three largest index providers will funnel billions and billions of dollars into Saudi stocks after admitting them to benchmarks whose influence has grown alongside the rise of passive investing over the past decade.The process, which began this wee...
Tags: Travel, Saudi Arabia, Dow Jones, Financial Times, Saudi Aramco, Russell, Rupert Neil Bumfrey


Mubadala sets up tech hub in #AbuDhabi with SoftBank | Financial Times

Mubadala sets up tech hub in Abu Dhabi with SoftBank | Financial Times:Mubadala, an Abu Dhabi sovereign wealth fund, is building on its relationship with SoftBank to attract some of the world’s most valuable start-ups to a new technology hub in the capital of the United Arab Emirates.Mubadala Ventures, the tech arm of the $225bn fund, will unveil plans for the new hub on Sunday, including a partnership with Microsoft, according to people familiar with the situation.It is in talks with companies ...
Tags: Travel, Microsoft, Softbank, Abu Dhabi, Rupert Neil Bumfrey, Mubadala, Vision Fund, United Arab Emirates Mubadala Ventures, Improbable Oyo Plenty SenseTime


MIDEAST STOCKS-Real estate hurts #Dubai, ex-dividend stocks weigh on #Qatar | Reuters

MIDEAST STOCKS-Real estate hurts Dubai, ex-dividend stocks weigh on Qatar | Reuters:Dubai’s stock market dropped on Thursday, weighed down by its property shares, while Qatar slipped as its heavyweight stocks traded ex-dividend.In Dubai, the index fell 0.7 percent after four straight days of gains, with blue-chip developer Emaar Properties decreasing 1.7 percent. Its board proposed a full-year dividend of 15 fils a share.Emaar’s unit Emaar Malls fell 2.3 percent after declaring an unchanged full...
Tags: Travel, Qatar, Dubai, Reuters, Emaar Properties, Emaar, Rupert Neil Bumfrey, Emaar Malls


Oil Stays Above $60 on U.S. Stockpile Draw and Saudi Supply Drop - Bloomberg

Oil Stays Above $60 on U.S. Stockpile Draw and Saudi Supply Drop - Bloomberg:Oil held above $60 a barrel after the biggest withdrawal of crude in American storage tanks since July raised speculation that global supplies are tightening. Futures for May in New York were little changed after the April contract reached the highest level this year before expiring on Wednesday. U.S. government data showed a 9.59 million-barrel decline in nationwide stockpiles, exceeding analysts’ expectations. Crude e...
Tags: Travel, New York, Saudi Arabia, Iran, Venezuela, Organization of Petroleum Exporting Countries, Rupert Neil Bumfrey, Saudi Supply Drop Bloomberg, Meanwhile the Federal Reserve


Qatar Stocks Buck Mideast Gains – Bloomberg

Qatar Stocks Buck Mideast Gains – Bloomberg:Akber Khan, senior director of asset management at Al Rayan Investment, discusses Qatar stocks and his call on Qatar Transport. He speaks on “Bloomberg Daybreak: Middle East.” (Source: Bloomberg) [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Qatar, Bloomberg, Middle East, Rupert Neil Bumfrey, Al Rayan Investment, Akber Khan, Qatar Stocks Buck Mideast Gains


#AbuDhabi, Tech Giants Said to Vie for $3 Billion Watson Stake - Bloomberg

Abu Dhabi, Tech Giants Said to Vie for $3 Billion Watson Stake - Bloomberg:Mubadala Investment Co., the Abu Dhabi sovereign fund, and Chinese internet giant Tencent Holdings Ltd. are weighing bids for part of Temasek Holdings Pte’s stake in global retailer A.S. Watson Group, people with knowledge of the matter said.The Singapore state investment company is considering selling around a 10 percent stake in A.S. Watson for about $3 billion, according to the people, who asked not to be identified be...
Tags: Travel, Hong Kong, Singapore, Tencent, Watson, Abu Dhabi, Jack Ma, Alibaba Group Holding Ltd, Victor Li, Tencent Holdings Ltd, Rupert Neil Bumfrey, Mubadala Investment Co, Temasek Holdings Pte, CK Hutchison Holdings Ltd, Watson Group, AbuDhabi Tech Giants


Top Property Stock Has Qatari Bet on Beautiful Island to Thank - Bloomberg

Top Property Stock Has Qatari Bet on Beautiful Island to Thank - Bloomberg:A Qatari fund’s bet in one of the world’s most beautiful islands is driving this year’s hottest property stock rally.Premiere Horizon Alliance Corp., which is building one of the largest Philippine tourism estates, has more than tripled this year, beating all of its global peers with more than $15 million in market value. And more gains may be coming, says Chief Executive Officer Augusto Serafica Jr. Just wait until Qatar...
Tags: Travel, Qatar, Bloomberg, Premiere, Palawan, Sama, Rupert Neil Bumfrey, Beautiful Island, Premiere Horizon Alliance Corp, Augusto Serafica Jr, Sama Global Investment, Serafica


VPS Healthcare Reconsiders London IPO Because of Brexit Uncertain - Bloomberg

VPS Healthcare Reconsiders London IPO Because of Brexit Uncertain - Bloomberg:VPS Healthcare LLC, a hospital operator in the Middle East, Europe and India, is reconsidering plans to list in London due to uncertainty surrounding Brexit, according to a person with knowledge of the matter.The Abu Dhabi-based hospital operator is also evaluating listing in the U.S. or Singapore and will decide closer to the IPO, the person said, asking not to be identified because the matter is private. VPS Healthca...
Tags: Travel, London, Singapore, India, United Arab Emirates, Abu Dhabi, Brexit, Middle East Europe, Rupert Neil Bumfrey, Rothschild Co, NMC Health Plc, VPS Healthcare, VPS Healthcare Reconsiders London IPO, Brexit Uncertain Bloomberg, VPS Healthcare LLC


Oil Hits 2019 High on Biggest U.S. Crude Storage Drop Since July - Bloomberg

Oil Hits 2019 High on Biggest U.S. Crude Storage Drop Since July - Bloomberg:Oil closed at a new high for the year in New York after the biggest withdrawal of crude in U.S. storage tanks since July signaled further tightening supplies.Futures gained 1.4 percent on Wednesday after a 9.59 million-barrel decline in American oil stockpiles reported by the government exceeded analysts’ expectations. U.S. crude exports were near a record high while imports from Saudi Arabia decreased by more than half...
Tags: Travel, New York, Saudi Arabia, Toronto, Venezuela, Rupert Neil Bumfrey, Bart Melek


#Dubai’s message to its people: be tolerant, or else | Financial Times

Dubai’s message to its people: be tolerant, or else | Financial Times:Dubai has a limitless ability to reinvent itself. Having run out of branding wonders — think of Burj Khalifa or its man-made islands — the Gulf emirate has now latched on to catchy concepts. Drive through the city’s boulevards and you’ll see of billboards celebrating the “year of tolerance”; you might even spot “Tolerance Bridge”. Talk to residents and you will learn that school children are assigned tolerance projects and art...
Tags: Travel, United Arab Emirates, Dubai, Francis, Uae, Financial Times, Burj Khalifa, Gulf, Rupert Neil Bumfrey


Oil majors rush to dominate U.S. shale as independents scale back | Reuters

Oil majors rush to dominate U.S. shale as independents scale back | Reuters:In New Mexico’s Chihuahuan Desert, Exxon Mobil Corp is building a massive shale oil project that its executives boast will allow it to ride out the industry’s notorious boom-and-bust cycles.Workers at its Remuda lease near Carlsbad - part of a staff of 5,000 spread across New Mexico and Texas - are drilling wells, operating fleets of hydraulic pumps and digging trenches for pipelines.The sprawling site reflects the massi...
Tags: Travel, Texas, New Mexico, Reuters, Carlsbad, Permian Basin, Rupert Neil Bumfrey, Chihuahuan Desert Exxon Mobil Corp, Drillinginfo Inc, Remuda


Mideast Stocks: Petrochemicals companies hold back #Saudi as rival markets firm | ZAWYA MENA Edition

Mideast Stocks: Petrochemicals companies hold back Saudi as rival markets firm | ZAWYA MENA Edition:Saudi Arabia's stock market dropped on Wednesday as petrochemical companies slid amid falling oil prices while rival markets were mostly lifted by financial stocks. The Saudi index eased 0.2 percent from the multi-year closing high hit after it entered FTSE Russell's emerging-market index on Monday.The Middle East's largest petrochemicals producer Saudi Basic Industries 2010.SE slipped 0.3 percent...
Tags: Travel, Saudi Arabia, Middle East, Russell, Riyad Bank, Rupert Neil Bumfrey, Saudi Basic Industries, MENA Edition


Oil's Rally Stalls Near $59 as U.S.-China Trade Jitters Return - Bloomberg

Oil's Rally Stalls Near $59 as U.S.-China Trade Jitters Return - Bloomberg:Oil’s rally stuttered as uncertainty over the status of trade negotiations between the U.S. and China stoked concerns over global economic growth.Futures for May were little changed in New York after dropping as much as 0.4 percent. China was said to be pushing back against American demands, raising speculation that trade tensions between the world’s biggest economies will persist. Still, the price drop was cushioned by a...
Tags: Travel, New York, China, Russia, Opec, Iran, Venezuela, American Petroleum Institute, Rupert Neil Bumfrey, U S China Trade Jitters Return Bloomberg


Mideast Stocks: Global mood pulls down most major Gulf markets | ZAWYA MENA Edition

Mideast Stocks: Global mood pulls down most major Gulf markets | ZAWYA MENA Edition:Saudi Arabia's stock market dropped on Wednesday as its banks fell, while most major Gulf markets also slid, mirroring global cues ahead of a decision by the U.S. Federal Reserve on its interest rate plans for the year.Major Gulf countries have their currencies pegged with the U.S. dollar and any decision by the Federal Reserve will directly impact currency performance of those countries.Saudi's index fell 0.4 pe...
Tags: Travel, Saudi Arabia, Federal Reserve, Gulf, U S Federal Reserve, Russell, Rupert Neil Bumfrey, Major Gulf


Blackstone-Backed GEMS Is Said to Bid for Top #Saudi School Chain - Bloomberg

Blackstone-Backed GEMS Is Said to Bid for Top Saudi School Chain - Bloomberg:GEMS Education, the Dubai-based school operator backed by Blackstone Group LP, is in advanced talks to invest in Saudi Arabia’s Maarif for Education & Training chain of schools, according to people with knowledge of the matter.The deal for the largest owner and operator of private schools in the kingdom could be worth about $400 million, the people said, asking not to be identified because the discussions are private. S...
Tags: Travel, Saudi Arabia, Dubai, Blackstone, Blackstone Group LP, Rupert Neil Bumfrey, Al Blehed, Samba Capital, Top Saudi School Chain Bloomberg, Maarif for Education Training, Maarif


OPEC Must Dig Deeper to Trim Stockpiles: Oil Strategy - Bloomberg

OPEC Must Dig Deeper to Trim Stockpiles: Oil Strategy - Bloomberg:OPEC members have done just about enough to bring oil production into line with the world’s need for their crude in 2019, but they will have to keep the restraint going throughout the year, just to prevent stockpiles from rising. To drain them further, as Saudi Energy Minister Khalid Al-Falih believes they must, they still need to do more.A committee of the most influential members in the 24-nation alliance of OPEC and non-OPEC co...
Tags: Travel, Opec, Baku, Organization of Petroleum Exporting Countries, Khalid al Falih, Rupert Neil Bumfrey, Oil Strategy Bloomberg


Alwaleed Promises More Details on Settlement to Calm Investors - Bloomberg

Alwaleed Promises More Details on Settlement to Calm Investors - Bloomberg:Prince Alwaleed bin Talal Al Saud, the Saudi billionaire whose wealth has more than halved since 2014, promised more transparency on his settlement with the government over alleged corruption in the hope the move would calm investors. The prince, who was detained in November 2017 in what the government called a corruption crackdown, said he may reveal more details on the terms of his release in the “coming weeks or months...
Tags: Travel, Bloomberg, Kingdom Holding Co, Alwaleed, Rupert Neil Bumfrey, Alwaleed bin Talal Al Saud, Rotana Khalijia


Money From London to New York Flocks to #Saudi-Focused ETFs - Bloomberg

Money From London to New York Flocks to Saudi-Focused ETFs - Bloomberg:Exchange-traded funds in the U.S. and the U.K. focused on Saudi Arabian equities are piling up new money this year, placing the Middle Eastern kingdom high in a global ranking.A London-based ETF and another that trades in New York together attracted around $327 million in new money since the beginning of January. The net flow as a percentage of assets for Saudi Arabia funds increased about 47 percent this year, more than any ...
Tags: Travel, New York, London, Saudi Arabia, Bloomberg, Croatia, Invesco, Russell, BlackRock Inc, Rupert Neil Bumfrey, MSCI Inc, New York Flocks


#Qatar to launch energy-focused Islamic bank with $10 billion capital | Reuters

Qatar to launch energy-focused Islamic bank with $10 billion capital | Reuters:Qatar will launch an energy-focused Islamic lender later this year with a targeted capital of $10 billion to finance both domestic and global projects, an executive said on Tuesday.Tiny but wealthy Qatar is one of the most influential players in the liquefied natural gas market with annual production of about 77 million tonnes, and it plans to increase this over 40 percent to 110 million by 2024.Speaking at an Islamic...
Tags: Travel, Qatar, Doha, Reuters, Islamic Finance, Rupert Neil Bumfrey, Energy Bank


Oil holds near 2019 highs ahead of official U.S weekly data | Reuters

Oil holds near 2019 highs ahead of official U.S weekly data | Reuters:Oil prices held close to four-month highs on Tuesday on expectations that OPEC would continue production cuts through the end of the year and ahead of official weekly U.S. crude inventory data.Brent crude oil futures settled 7 cents higher at $67.61 a barrel, the global benchmark’s highest settlement since November 2018.U.S. West Texas Intermediate (WTI) futures touched its highest since November at $59.57 a barrel but finishe...
Tags: Travel, Opec, Reuters, U S West Texas Intermediate WTI, Rupert Neil Bumfrey