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Saturday, 24 August 2013

The Saudi Target Price Band For Brent Crude - Is It About To Break? - Seeking Alpha

The Saudi Target Price Band For Brent Crude - Is It About To Break? - Seeking Alpha:

"If you look at the movement of Brent Crude oil and Saudi Aramco production statistics over the past two years, you see an interesting pattern. If the price gets at or close to $125 per barrel Saudi production picks up. If the price drops to or close to $100 per barrel, Saudi production is ratcheted back.

In the period between 1986 and 2002, the Saudi oil ministers managed (with their sometimes-compliant OPEC member states partial assistance) to maintain oil in a range somewhere between 25 and 30 dollars. The official "price band" was said to be between 26 and 28 dollars per barrel. While there were occasional breaches of the price band, the Saudis were pretty good at keeping the price at the desired level, a level which seems low by today's standards but seemed awfully high compared to the $2 per barrel level of the 1950's and 1960's.

Now, virtually everyone these days agrees that to the extent there might still exist spare production capacity in the oil producing world, that capacity can be found in the Persian Gulf and specifically, the Kingdom of Saudi Arabia."

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#Ukraine leader ignores Putin warning on EU path | Reuters

Ukraine leader ignores Putin warning on EU path | Reuters:

"
Russian President Vladimir Putin (R) speaks with his Ukrainian counterpart 
Viktor Yanukovich during their meeting at the Zavidova residence in the Tver region March 4, 2013.
Credit: Reuters/Andrei Mosienko/Presidential Press Service/Handout
Ukrainian President Viktor Yanukovich on Saturday re-affirmed his commitment to signing key agreements with the European Union, including on trade, despite a threat by Russia's Vladimir Putin of possible retaliatory measures.

Russia, the ex-Soviet republic's biggest trading partner, last week signaled growing alarm at Kiev's policy of European integration by conducting laborious extra customs checks on imports from Ukraine, causing delays at the border.

Though Russia ended the customs checks after a few days, Putin last Thursday added to fears in Kiev of a possible trade war by saying that a free trade deal between Ukraine and the EU might "squeeze out" Russian goods."

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Tymoshenko: Ukrainians should prove they deserve to be part of European family

Tymoshenko: Ukrainians should prove they deserve to be part of European family:

"
Ukrainian citizens should prove that they deserve to be part of the European family, former Prime Minister and Batkivschyna Party leader Yulia Tymoshenko has said in an Independence Day address.

"The signing and ratification of the agreement on association and a free trade area with the EU is also at risk. This is another historical test for us. But we're not alone on this path – we have friends who also believe in Ukraine. We must prove to them that we deserve to be part of the European family. The democratic world has hope and faith in a better future for us," reads the address, which was posted on her personal Web site on Saturday.

"Today we are passing through history. It's not an easy romantic walk. We're walking with shackles on our feet, with record levels of corruption by the ruling family, with a trade blockade on our northern borders, with a usurped part of Crimea, with radical opposition to our European future, with heartbreaking pain in our soul, with difficulties and problems," Tymoshenko said."

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Saudi-Oman road to bypass UAE - Emirates 24/7

Saudi-Oman road to bypass UAE - Emirates 24/7:

"Travellers shuttling between Saudi Arabia and neighbouring Oman will no longer need to cross the UAE when a road directly linking the two Gulf countries is completed in late 2013, according to Saudi and Oman officials.

The SR1.6-billion motorway will pass through the eastern Saudi province of Ihsa and the Rub Al Khali desert (Empty Quarter) past the UAE Ghuweifat border point and extend into Oman, where most of the road link has already between completed.

The road inside Oman is around 160km long while Saudi Arabia is carrying out a 519km long motorway."

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Yanukovych: Association with EU should be stimulus for Ukraine to develop modern European state » Interfax News Wire

Yanukovych: Association with EU should be stimulus for Ukraine to develop modern European state » Interfax News Wire :: Russia, Ukraine, Kazakhstan and Central Asia:

"Ukrainian President Viktor Yanukovych has confirmed the country’s desire to join the European Union and maintain integration processes with Russia, the countries of the Eurasian community, and other world leaders.

“Association with the EU should be an important stimulus for Ukraine to continue to develop a modern European state,” he said at the events marking the 22nd anniversary of the country’s independence in Kyiv on Saturday.

“At the same time, we should maintain and deepen our relations and integration processes with Russia, the countries of the Eurasian community, other world leaders and the new centers of economic development,” Yanukovych said."

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Emerging economies: Vulnerable or robust? - FT.com

Emerging economies: Vulnerable or robust? - FT.com: (Click for slide show)

"Emerging markets have been pummelled since May when talk of the US Federal Reserve reducing its asset purchase programme began. Worries that the end of cheap money would raise borrowing costs and reverse the massive inflows that emerging markets had enjoyed since western central banks introduced extraordinary measures in 2009, has taken its toll particularly on markets that suffer from current account deficits. Central banks of emerging markets have started to act to shore up their currencies and confidence, but how do these economies stack up against each other in terms of economic health, and which ones are more vulnerable?

Stock markets were already under pressure from the beginning of the year as evidence of slowing Chinese growth increased, with commodity exporting countries particularly hit.
"

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Arab states plan investment region in India | GulfNews.com

Arab states plan investment region in India | GulfNews.com:

"Investors and entrepreneurs from 23 Arab states plan to build an exclusive investment region near Bengaluru ewith world class facilities for micro, small and medium enterprises (MSME) in diverse sectors of the economy.
“We plan to build an Arab Investment Region (AIR) in about 400 acres of land near National Highway seven (NH7) and closer to the Bangalore international airport at Devanahalli as investors and entrepreneurs from Arab states are keen to set up MSMEs for exports,” Indo-Arab Chamber of Commerce (IACC) chairman S. Krishna Kumar said Friday on the margins of a trade meet here.
The IACC will soon approach the Karnataka government for regulatory approvals to build the region with an integrated township and an ecosystem that will also facilitate local investors to set up MSMEs that will export primarily to Arab states."

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Etihad’s support for Air Berlin conditional on restructuring | GulfNews.com

Etihad’s support for Air Berlin conditional on restructuring | GulfNews.com:

"Etihad Airways will continue to support Air Berlin, as long as the loss-making lower-cost carrier continues to make progress with its restructuring programme.
Etihad’s Chief Commercial Officer Peter Baumgartner said late on Thursday that the UAE airline is interested in a long-term collaboration between the two carriers and has confidence in Air Berlin’s turnaround programme.
He didn’t say, however, whether Etihad would provide further financial support."

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How to conquer Baghdad: open up a new shopping mall - The National

How to conquer Baghdad: open up a new shopping mall - The National:

"
Mansour Mall in Baghdad, Iraq. Hadeel Al Sayegh / The National
Retail heaven has come to Baghdad.

The capital's commercial district has been transformed with the arrival of Mansour Mall.

On Sunday, hundreds of people were walking in droves leading up to the giant structure, in their best dress, with women glammed up in make-up and high heels and ready for a night on the town."

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