Sunday, 4 September 2011
The Saudi index climbed 0.8 percent, after gaining 2.1 percent on Saturday, the first session after the Eid al-Fitr Muslim holiday which began on Aug. 25 in the kingdom.
Saudi Basic Industries Corp (SABIC) and Saudi International Petrochemical Co (Sipchem) added 0.3 and 0.6 percent respectively.
|TASI (Saudi Stock Market)||6153.36||0.76%|
|DFM (Dubai Financial Market)||1483.71||-0.58%|
|ADX (Abudhabi Securities Exchange)||2612.82||-0.12%|
|KSE (Kuwait Stock Exchange)||5843.8||0.91%|
|BSE (Bahrain Stock Exchange)||1258.03||-0.02%|
|MSM (Muscat Securities Market)||5767.35||1.14%|
|QE (Qatar Exchange)||8440.88||1.07%|
|LSE (Beirut Stock Exchange)||1287.52||0.56%|
|EGX 30 (Egypt Exchange)||4661.42||0.47%|
|ASE (Amman Stock Exchange)||2044.83||0.41%|
|TUNINDEX (Tunisia Stock Exchange)||4549.85||1.10%|
|CB (Casablanca Stock Exchange)||11613.6||0.84%|
|PSE (Palestine Securities Exchange)||490.93||-0.02%|
Whether Egypt will then get a stable government and develop into a genuine democracy will depend not only on how it manages its raucous politics but also on whether it can fix its sclerotic economy, and soon.
Political upheaval has plunged Egypt’s economy into crisis. Since January, unemployment has climbed to 12 percent, and investment has shrunk by 26 percent. In a country in which tourism accounts for 11 percent of GDP, international arrivals have fallen a precipitous 46 percent. Given that 40 percent of the population lives on less than $2 a day, the impact of such jolts has been profound.
Earlier, Aldar Properties rallied to its highest intraday gain in a month after the developer said its Al Falah villa project will be completed in the next year.
Markets are still reeling after a period of heavy selling across global bourses earlier last month.
Gulf markets will resume digesting global news after a hiatus because of the Eid Al Fitr holidays.
"More volatility is to be expected," said Jarmo Kotilaine, the chief economist of NCB in Saudi Arabia. "Clearly, the basic assumption about the expectations for the global economy have been downgraded quite significantly."
In 2006, Kerzner International was taken private by a group of investors for $3 billion, plus the assumption of $600 million in debt. The investor group included Kerzner and his son Butch, who is now deceased.
The financial crisis of 2008 hurt the company. The subsequent collapse of the group travel market, a deep recession and continued weakness in the American economy have reduced revenues to the company. Consequently, paying back the debt owed has been difficult.
The trading activity is expected to gain momentum this week as investors may give up their cautious approach towards the equities.
The market analysts said the regional equities are likely to track the recent positive trends of global markets. They said investors would be closely watching the US President Labour Day speech on Monday and two-day Fed meeting on September 20-21 before taking fresh positions.
In this September 2010 study a German military think tank analyzes how “peak oil” could impact the world in the coming years. They discuss the importance of oil to the global economy, its connection to global conflicts and why the world is almost certainly running out of this important resource:
It is a fact, however, that oil is finite and that there is a peak oil. Since this study is mainly focused on understanding cause-effect relations following such a peak oil situation, it is not necessary to specify a precise point in time. Some institutions claim that peak oil will occur as early as around 2010. Depending on the development of globally relevant factors, we cannot rule out that peak oil could have serious security policy implications within the review period of the 30-year investigation perspective chosen for the SFT series. The dimension of the potential effects in conjunction with the above-mentioned ambiguity regarding the existing data on the future availability of oil therefore underpins the necessity to look in more detail at
the potential security policy implications for Germany.
Apart from the above-mentioned uncertainty factors regarding exact peak oil occurrence, it is foreseeable that when global peak oil is actually reached – and if transformation towards post-fossil societies has not been extensive enough or has occurred too late – it will no longer be possible from a certain point to cover the global demand for oil. Against this background and regarding the long periods of time needed for adjustments in the energy sector aiming at a far-reaching energy transition, it is today’s necessity (1) to thoroughly analyse our extent of oil dependence, (2) to identify – based on this information and in time- potential risks , and (3) to discuss alternatives for using oil.