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Saturday, 3 August 2013

ECONOMICS - Dutch Rabobank enters Turkey’s banking market

ECONOMICS - Dutch Rabobank enters Turkey’s banking market:

"
Turkey’s banking regulator has approved the establishment of a deposit bank that will have the Dutch Rabobank group as the controlling shareholder.

Rabobank will control 96 percent of the bank which will have an initial capital of $300 million (575 million Turkish Liras).

The Banking Regulation and Supervision Agency’s approval (BDDK) has been published on today’s edition of the official gazette.

Ranked 26th in The Banker magazine’s world’s 1000 largest banks list, Rabobank also figures among the world’s 50 safest banks chosen by Global Finance magazine."

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British Business Club in Ukraine: Stay Calm - Leave Ukraine - Often

British Business Club in Ukraine: Stay Calm - Leave Ukraine - Often:

"One of the great benefits of holding an EU/British passport is that we British expats can leave Ukraine whenever we like and return whenever we like (provided we have the correct residents permits). Sometimes we visit the UK and sometimes other countries.

Although Kyiv Ukraine provides a constant stimulus of interests in many ways, the act of leaving the country is therapeutic.  In fact I am now an advocate for encouraging my fellow expats to ‘escape’ at least four times per year. Many of my Ukrainian friends have discovered the benefits of a Schengen visa allowing them to visit many EU countries. On returning to Ukraine they all feel a sense of being ‘recharged’."

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Environment ministry postpones signing deal with ExxonMobil till mid-autumn < News < Home

Environment ministry postpones signing deal with ExxonMobil till mid-autumn < News < Home:

"02-08-2013 13:06
Ukraine and a consortium of oil companies led by ExxonMobil plan to finalize a production sharing agreement (PSA) at the Skifska area in the Black Sea, and sign it by mid-autumn, Volodymyr Ihnatenko, an adviser to the Minister of Environment and Natural Resources has said.

As reported, Ukraine in 2012 held a tender to conclude a PSA for extraction of gas in the Skifska area (deep-water shelf of the Black Sea). The winner of the competition was declared a consortium of companies led by ExxonMobil with the participation of Shell, Austria's OMV represented by its Romanian daughter Petrom and Ukraine’s state company Nadra Ukrainy. Earlier, it was reported that the PSA with the consortium would be signed by August."

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Who wins: Akhmetov or Yanukovych family?

Who wins: Akhmetov or Yanukovych family?:

"Ukraine will possibly trade in Azarov’s resignation for the IMF credit, observers say. There are two likely candidates for premiership, Oleksandr Vilkul, Renat Akhmetov’s protégé, and Serhy Arbuzob, an insider of the Yanukovych family, Radio Svoboda reports Aug. 2.

Moscow’s Nezavisimaya gazeta predicts that Yanukovych is looking for a replacement for Premier Azarov as the country’s economic situation is on the verge of taking very unpopular decisions in order to get the $15 billion IMF credit.

The main payments of Ukraine’s massive foreign debt fall for 2013-2014, and Kyiv has to accept the IMF demands to regulate the economy by taking belt-tightening steps, something which will hit the populace hardest. 
In this situation, Pres Yanukovych will have to dump Premier Azarov in the fall.

Both contenders for premiership, Arbuzov and Vilkul, are now moving into high gear. "

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Dubai’s efforts to boost tourism yield results | GulfNews.com

Dubai’s efforts to boost tourism yield results | GulfNews.com:

"Dubai’s purported plans for growth in the tourism sector seem to be on the right track as evidenced by the surge in number of visitors — 5.5 million; up by 11.1 per cent from last year — in the first half of this year. Dubai’s Tourism Vision 2020 seeks to position the emirate as the foremost destination for leisure and business travellers. This has been continuously tweaked by evolving the broad and diverse tourism offerings, as well as attracting visitors from all kinds of markets.
Infrastructure has been put into place and plans have been announced to ensure that, when the surge in tourism intensifies, the emirate will be well-placed to tackle this phenomenon. All stakeholders that are involved in engaging tourists to the emirate have recorded healthy numbers — airlines, airports, hotels, hotel apartments, etc. What is more important, however, is the brand promise that Dubai holds out to its diverse clientele globally. There is no compromise on the quality of the service, or the infrastructure that is on offer."

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Emaar issues termination notice to defaulters | GulfNews.com

Emaar issues termination notice to defaulters | GulfNews.com:

"Emaar Properties have issued a termination notice to the defaulters of its Downtown Dubai development.
Defaulters who have not made instalment payments on their units now have 30 days to do so.
“In accordance with Law No (13) of 2008 as amended, and its Executive Regulations, Dubai Land Department (DLD), hereby notifies you to rectify the default within [30] days as of the date of publication of this notice. If you fail to pay the amount due within the specified period, DLD shall take the necessary legal proceeding pursuant to clause No (11) of the aforesaid,” the notice warned."

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NMC seeks to invest in KSA and Qatar | GulfNews.com

NMC seeks to invest in KSA and Qatar | GulfNews.com:

"Since first being listed in April 2012, NMC’s price per share had increased by 42 per cent up from £2.10 (Dh11.75) in 2012 to £2.9 at the end of April 2013, Binay Shetty, COO of NMC, told the Gulf News in a recent interview.
“NMC, the largest private healthcare provider in the UAE, was listed on London Stock Exchange in April 2012 after an initial public offering and the funds helped carry out the growth plans, which include a 250 bed hospital at a cost of US$200 million,” said Shetty.
He added that this step had been pivotal for NMC Health, and that NMC is quite “proud to have been the first Abu Dhabi-based business to list on the Premium Segment of the London Stock Exchange.”"

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Dubai hotels record 86% occupancy in last 6 months | GulfNews.com

Dubai hotels record 86% occupancy in last 6 months | GulfNews.com:

"Dubai hotels continue to see high occupancy levels as the hotel market saw an 86 per cent occupancy in the first half of the year, according to a report by HotStats.
“Dubai’s hotel market continues to grow from strength to strength … the high levels of demand continue to be driven by the strong economic activity within the city, coupled with its attractiveness as an all-round leisure destination,” said Peter Goddard, Managing Director of TRI Hospitality Consulting in Dubai.
Dubai’s hotel market led regional markets in its June performance, as occupancy climbed 3.6 per cent to 79.2 per cent, according to the report."

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