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Sunday, 5 January 2014

2014: emerging markets - YouTube

2014: emerging markets - YouTube:

"Emerging markets missed out on the equities rally in 2013, and EM stocks are beginning to look cheap. John Authers analyses whether this value can be realised, as there are risks from weak Chinese growth, falling commodity prices and the Fed's exit from QE


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Times of Oman | News :: Oman’s inflation lowest in the GCC

Times of Oman | News :: Oman’s inflation lowest in the GCC:

"The Sultanate's inflation rate touched 0.5 per cent in November, slightly up from the October figure of 0.3 per cent. However, this is much lower than the level of inflation at 2.7 per cent for November 2012, according to the monthly statistics released by the National Centre for Statistics and Information (NCSI).

Food prices witnessed a rise of 2.9 per cent from October to November 2013. For the same period, educational services increased by 9.9 per cent, and housing rental, electricity, water and fuel rose by 1.2 per cent. Transport and communications also rose by 0.5 per cent, and clothing and textiles, and footwear prices rose by 1.3 per cent. Furniture prices and household items rose by 0.8 per cent and medical services by 1.8 per cent. However, prices of a range of personal goods and other services dropped by 13.2 per cent and a range of culture and leisure services by 0.6 per cent during the period.

Meanwhile, the NCSI inflation report revealed that the rate of inflation in the Sultanate for November was the lowest among GCC states. "

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French-UAE Intel Satellite Deal in Doubt | Defense News |

French-UAE Intel Satellite Deal in Doubt | Defense News |

The United Arab Emirates, which has purchased two Falcon Eye spy satellites based on the French Pleiades satellite, says the satellites contain parts made in the US that are considered 'security compromising components.' (Airbus Defence and Space)
A United Arab Emirates (UAE) deal to purchase two intelligence satellites from France worth almost 3.4 billion dirhams (US $930 million) is in jeopardy after the discovery of what was described as “security compromising components.”

A high-level UAE source said the two high-resolution Pleiades-type Falcon Eye military observation satellites contained two specific US-supplied components that provide a back door to the highly secure data transmitted to the ground station.

“The discovery was reported to the deputy supreme commander’s office [Sheikh Mohammed Bin Zayed] in September,” the source said. “We have requested the French to change these components and also consulted with the Russian and Chinese firms.”"

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Kuwait 6-mth budget surplus down 15 pct as spending jumps | Reuters

Kuwait 6-mth budget surplus down 15 pct as spending jumps | Reuters:

"* Spending soars over 50 pct in first half

* Most of rise due to current expenditure, not investment

* May partly reflect payments' timing, not annual allocations

* Impact on domestic demand not as large as figures suggest

* But figures underline growing pressure on state finances

By Sylvia Westall

KUWAIT, Jan 5 (Reuters) - Kuwait's budget surplus narrowed in the first six months of its fiscal year as spending soared over 50 percent, partly thanks to increased outlays on public sector wages, while oil revenues fell, figures from the Finance Ministry showed.

The budget surplus for April to September was 10.72 billion Kuwaiti dinars ($37.9 billion), a Reuters calculation based on official data showed. That was down 15 percent from 12.65 billion dinars during the same period a year earlier.

Although Kuwait's fiscal position is still strong because of its oil wealth, the International Monetary Fund has told the government that it will need to invest in infrastructure projects and control public wage growth to strengthen the economy and maintain a healthy balance sheet."

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UAE market regulator issues new rules, penalties - Markets -

UAE market regulator issues new rules, penalties - Markets -

"The UAE stock market regulator has introduced new margin lending rules and vowed to crack down on unlicensed lending, it said in a statement on its website.
Margin lending - borrowing with cash or share holdings as security, has been in high demand as investors sought to maximise gains from a UAE market surge, with Dubai and Abu Dhabi's bourses jumping 108 percent and 63.1 percent respectively last year.
Limits on such lending were introduced in 2008, but many brokers ignored these and faced few repercussions. Now, on the request of brokers, the Securities and Commodities Authority (SCA) has made changes to what firms can lend customers.
Previously, firms could lend each client 10 percent of the capital they set aside for margin lending, but they can now lend three times that amount. The new rules are to take immediate effect."

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Abu Dhabi Stocks Gain a Fifth Day on Earnings Bets; Dubai Falls - Bloomberg

Abu Dhabi Stocks Gain a Fifth Day on Earnings Bets; Dubai Falls - Bloomberg:

"Abu Dhabi’s benchmark index, the world’s fourth-best performing gauge last year, advanced for a fifth day on investor bets shares are cheap relative to earnings prospects. Dubai’s measure declined.

The ADX General Index gained 0.6 percent to 4,383.68, the highest close since August 2008 as Sharjah Cement & Industrial Development Co. and Ras Al Khaimah Cement Co. (RAKCC) rose more than 10 percent. Shares in the measure, which soared 63 percent last year, trade at 11.3 times average estimated earnings compared with 14.6 for Dubai’s gauge and 14.7 for the MSCI World Index. Dubai’s index lost 0.2 percent after more than doubling in 2013.

“The expectation of better earnings is what’s causing the money to come in,” Yaser Abushaban, the executive director for asset management at Dubai-based Emirates Investment Bank PJSC said by phone today."

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