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Friday, 14 March 2014

Ukraine Bonds Fall With Stocks Before Weekend Crimea Referendum - Businessweek #EuroMaidan

Ukraine Bonds Fall With Stocks Before Weekend Crimea Referendum - Businessweek:



"Ukraine’s Eurobonds weakened and stocks headed for the worst week in seven on concern the conflict with Russia is intensifying two days before a referendum this weekend on the Crimean region’s independence.



The yield on the government’s dollar bonds due in 2023 rose 15 basis points to 10.79 percent, within three basis points of a three-week high, as of 4:07 p.m. in Kiev. The yield on the notes maturing in June 2014 climbed 27 basis points to 51.2 percent. The 2014 notes was bid at 91.63 cents on the dollar, compared with 91 cents two days ago, the lowest close on record.



As Crimea geared up for the vote on joining Russia, the U.S. and European Union threatened sanctions if President Vladimir Putin doesn’t back down from annexing the province. Ukraine says Russia has taken over the peninsula and is massing troops on its eastern border after a deadly clash in the Donetsk region. Estonia said Russia is preparing to invade."



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London May See Damage From Russian Sanctions: Uglow: Video - Bloomberg #EuroMaidan

London May See Damage From Russian Sanctions: Uglow: Video - Bloomberg:



"March 14 (Bloomberg) -- Philip Uglow, Chief Economist MNI Indicators, discusses the crisis in Ukraine that may affect both markets in Russia and across the EU. He speaks on Bloomberg Television’s “The Pulse.” (Source: Bloomberg)



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Azerbaijan May Benefit from the Russia-Ukraine Crisis | EurasiaNet.org #EuroMaidan

Azerbaijan May Benefit from the Russia-Ukraine Crisis | EurasiaNet.org:



"Energy-rich Azerbaijan could emerge as a winner in the international crisis over Crimea, if the West pushes away from Russia as a natural-gas supplier, Azerbaijani analysts say. Diplomatic sensitivities, namely a desire in Baku not to rile Russia, means that any Azerbaijani effort to capitalize on the crisis will take place behind the scenes.



In contemplating responses to Russia’s land grab in Crimea, European Union members have wrestled with a dilemma rooted in their dependency on Russian natural gas imports. Any EU economic sanctions on Russia could end up disrupting those gas supplies. And even if the Crimea crisis is somehow settled, lingering tension between Ukraine and Russia could impact EU gas imports, given that roughly a third of those Russian imports traverse Ukrainian territory.



Uncertainty over Russian supplies opens a door for Azerbaijan, which long has harbored European ambitions. In 2013, it produced 29 billion cubic meters of gas, roughly 62 percent of which is tradable gas, according to Energy Minister Natig Aliyev; it expects to increase that number by 2 billion cubic meters in 2014."



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Egypt's Prospects for Economic Growth - YouTube

Egypt's Prospects for Economic Growth - YouTube:



"Mohsin Khan, senior fellow with the Rafik Hariri Middle East Center, speaks on Egypt's prospects for economic growth.



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What Are the Growth Prospects for Arab Transition Countries? - YouTube

What Are the Growth Prospects for Arab Transition Countries? - YouTube:



"Mohsin Khan, senior fellow with the Rafik Hariri Middle East Center, assesses the prospects for economic growth and development in the short-to-medium term for Arab transition countries.



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UPDATE 2-Abu Dhabi's Gulf Marine Services makes muted London debut | Reuters

UPDATE 2-Abu Dhabi's Gulf Marine Services makes muted London debut | Reuters:



"(Reuters) - Abu Dhabi-based Gulf Marine Services (GMS) made a muted stock market debut in London, as the oil service vessel operator struggled to spark investors' interest following a glut of new share listings.



GMS shares were changing hands at 135 pence at 0829 GMT, unchanged from the level they were priced at earlier on Friday, in conditional trading before they are officially listed on the exchange.



The company priced its initial public offering (IPO) at the bottom of a range it had offered investors, giving it a market capitalisation of 472 million pounds ($787.1 million).



The valuation, which was below expectations for $1 billion, comes after several highly-valued flotations, including Poundland and Circassia, which both listed at the top of their price ranges in the past week."



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Ukraine anxiety triggers flight to safety, stocks tumble | Reuters #EuroMaidan

Ukraine anxiety triggers flight to safety, stocks tumble | Reuters:



"(Reuters) - Heightened tensions ahead of Ukraine's weekend referendum in Crimea and stresses over China's growth pushed world stocks to their lowest in a month on Friday and sent investors scurrying into safe-haven gold and bonds.



 European shares .FTEU3 started the day down 0.6 percent, putting most of the region on course for its biggest weekly drop since January while the DAX .GDAXI, whose German constituents have the most exposure to Russia, was facing its largest weekly losses since the height of the euro crisis in June 2012. .EU



Hardest hit was Moscow's MICEX index. It was down more than 5 percent at its lowest since 2009 and there was no let up in the pressure on the ruble either as it hovered near an all-time low.



Russia launched new military exercises near its border with Ukraine on Thursday, even as both the U.S. and Europe warned that Moscow risked facing serious steps if annexation was the outcome of a referendum planned for Sunday in the Crimea."



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Barbarians back at the gate - YouTube

Barbarians back at the gate - YouTube:



"Private equity has record amounts of cash to invest but high equity valuations and a likely rise in interest rates means the returns it can expect are falling. Anne-Sylvaine Chassany, the FT's private equity correspondent, explains to John Authers how the sector is still faring better than other investment classes.



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UAE lender ADCB to buy back further shares in 2014 — CEO | GulfNews.com

UAE lender ADCB to buy back further shares in 2014 — CEO | GulfNews.com:



"Abu Dhabi Commercial Bank (ADCB) plans to buy back a further 3 per cent of its shares this year, as it seeks to enhance its stock value, its chief executive said.



The emirate’s third-largest lender by market value bought back 7 per cent of its shares last year after it secured approval from the regulator for a 10 per cent buy-back last January.



“We have adequate capital to support our strategic growth plans and well-positioned to return excess capital to our shareholders via dividends and share buy-backs,” CEO Ala’a Eraiqat told the lender’s annual general meeting late on Wednesday."



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Temasek Unit Offers to Buy Olam in $4.2 Billion Cash Deal - Bloomberg

Temasek Unit Offers to Buy Olam in $4.2 Billion Cash Deal - Bloomberg:



"A Temasek Holdings Pte unit offered to buy Olam International Ltd. (OLAM) in a bid that values the commodity trader at S$5.3 billion ($4.2 billion), about 16 months after it helped stave off an attack by short-seller Carson Block. 




Breedens Investments Pte is offering S$2.23 cash per share, the Singapore-based company said today in a statement, a 12 percent premium to Olam’s last closing price of S$1.995. It’s also making an offer for Olam’s outstanding bonds and warrants.



Temasek, Singapore’s state-owned investment firm, became the largest investor in Olam after concerns raised by Block in November 2012 caused the stock to plummet. The bid for Olam, one of the world’s top three coffee and rice traders, highlights growing interest in agricultural investments as rising global populations boost food demand."



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