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Monday, 26 May 2014

Turkey-Azerbaijan pipeline offers alternative for Russian gas - Al-Monitor: the Pulse of the Middle East

Turkey-Azerbaijan pipeline offers alternative for Russian gas - Al-Monitor: the Pulse of the Middle East:



"Russia-Ukraine tension is being monitored particularly closely by Europe because of the continent’s dependence on Russian natural gas and Ukraine’s signing of a partnership agreement with the European Union.



Russia’s west Europe natural gas pipeline passes through Ukraine. Experience shows that at times of high tension, service through the pipeline can be disrupted, so developing an alternative to Russian natural gas is of vital importance for Europe.



Alternative natural gas resources are also important for the United States, as natural gas, in addition to being a commercial commodity, has also emerged as an effective instrument of political gamesmanship.

"



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MIDEAST STOCKS-MSCI stock picks lead rebound in Qatar, UAE | Agricultural Commodities | Reuters

MIDEAST STOCKS-MSCI stock picks lead rebound in Qatar, UAE | Agricultural Commodities | Reuters:



"Stocks about to join the MSCI emerging market index supported bourses in Dubai, Abu Dhabi and Qatar on Monday while Saudi Arabia posted gains across various sectors as it hit a new six-year high.



Abu Dhabi's bourse led the region, rising 2.5 percent and again surpassing the psychological barrier of 5,000 points as it continued to recover from a slump caused by profit-taking last week. The index closed at 5,049 points.



Three large lenders, Abu Dhabi Commercial Bank, National Bank of Abu Dhabi and First Gulf Bank , were the main drivers, posting gains of 7.6, 4.9 and 3.2 percent respectively.



All three banks will become part of the MSCI emerging market index at the end of this week as MSCI upgrades the United Arab Emirates and Qatar from frontier market status. So will developer Aldar Properties, whose shares added 4.3 percent."



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Etisalat given $500 million grant by Abu Dhabi for Maroc Telecom deal - The Economic Times

Etisalat given $500 million grant by Abu Dhabi for Maroc Telecom deal - The Economic Times:



"Abu Dhabi gave Etisalat a $500 million grant towards its 4.14 billion euro ($5.64 billion) purchase of 53 percent of Maroc Telecom, the company's prospectus for a planned bond issue shows.



The grant provides further evidence of the emirate's support for its companies' foreign expansion and could attract complaints from rival operators.



Fellow Abu Dhabi-based company Etihad Airways benefited from a $3 billion interest-free loan from the emirate's ruling family, the Australian Financial Review newspaper said last week, leading to complaints from rival airlines about state subsidies distorting competition. "



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Poroshenko promises to cleanse Ukraine's gas industry of corruption | Russia Beyond The Headlines

Poroshenko promises to cleanse Ukraine's gas industry of corruption | Russia Beyond The Headlines:



"Ukraine's gas industry will be cleansed of corruption, Petro Poroshenko, who leads the presidential race in Ukraine, said.



"Gas was an object of corruption for many years at all levels, including the highest levels of the prime minister and president. It's not going to happen again," he told a press conference in Kiev on Monday.



Poroshenko also reiterated that Ukraine will fight for its energy independence.



"We are looking to turn gas from Russia's 'energy club' into a commodity," he said."



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Why the go ahead for the Emaar Malls Group IPO risks accelerating the DFM correction « ArabianMoney

Why the go ahead for the Emaar Malls Group IPO risks accelerating the DFM correction « ArabianMoney:



"Emaar Properties today announced that it has recieved permission to go ahead with the listing of 25 per cent of the equity in its Emaar Malls Group with the money mainly to be returned to shareholders as dividends. Existing shareholders will also be allocated shares ahead of the general public and financial institutions in the IPO.



However, this circa $1 billion fund raising is going to be bad news for the Dubai Financial Market that underwent a 13 per cent correction last week. Dumping large volumes of new shares onto a falling market is the classic way to accelerate selling. Basically many players will sell their current shares to buy the new ones, undermining a market which already has less demand than supply.

"



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Gulf construction boom is back and just the start of another phenomenal upturn « ArabianMoney

Gulf construction boom is back and just the start of another phenomenal upturn « ArabianMoney:



"

This summer the main road through Dubai will be moved to one side to make way for the construction of a new billion dollar canal from the Business Bay to the sea (artist’s impression left). It’s symbolic of the boom that again places Dubai No1 city in the world for construction activity. But it is not just Dubai that is booming. 






Head off to Doha, capital of Qatar and World Cup 2022 fever is already in progress. Yesterday contracts were awarded to build the Doha Festival City that will rival the Dubai Mall as the world’s biggest."



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Zim finally gets Dubai diamond cash

Zim finally gets Dubai diamond cash:



"ZIMBABWE has finally received full payment for diamond auctions conducted in Dubai in March and is lining up more sales in the emirate, Mines Minister Walter Chidhakwa said last Friday.



However the government is looking for alternative brokers after those who facilitated the UAE trades reportedly held onto payments.



Earlier this month, Finance Minister Patrick Chinamasa told state media that the Dubai Diamond Exchange “had failed the test” following its inability to timeously remit payment of proceeds from the March auctions."



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The importance of statistics in the UAE | The National

The importance of statistics in the UAE | The National:



"With its palm tree-lined avenues, sea-facing views and blend of apartments, villas and shops, Mina Al Arab is one of the prime new residential complexes to spring up in Ras Al Khaimah.



Catering partly for the influx of people seeking refuge from surging rents in Dubai, the development has proven popular since opening last year. About 65 per cent of the 2,000 apartments and villas are already occupied, reckons RAK Properties, the developer.



Other property schemes are planned too as the emirate seeks to tap into growing interest from investors and renters. Such projects are an indication that RAK’s population and economy are on the up."



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Robin Mills: Russia keeps gas options open despite Chinese deal | The National

Robin Mills: Russia keeps gas options open despite Chinese deal | The National:



"On a map, Siberia looks quite close to China. It isn’t. A gas pipeline from East Siberia to Shanghai would run about 5,000 kilometres, almost as far as Alaska to New York or London to Dubai. But last Wednesday, Russia and China signed a gas export deal that has been a decade in the making.



Is this is a geopolitical master stroke that cements a Russo-Chinese alliance and undermines western attempts to isolate Russia over the Ukraine crisis? A move of desperation in conceding to Chinese demands? Or a straightforward commercial decision?



Russia has long been seeking to diversify its gas markets. The European market is lucrative and Russia’s existing gas export pipelines, long paid for, run west. But it is not sensible to rely solely on Europe – an anaemic economy, which is seeking both to find other gas suppliers, and to reduce its overall dependence on fossil fuels."



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Middle East could raise its game in LNG dynamics | GulfNews.com

Middle East could raise its game in LNG dynamics | GulfNews.com:



"I was asked, in a television interview a few years ago, whether natural gas demand will ever overtake that for crude oil. My answer was in the affirmative, though I said that the time frame maybe more difficult to define, which is still the case.



However, given current forecasts and the fact that annual growth in gas demand is almost double that of oil, it is possible that the important event may happen around 2050. It may even come earlier if environmental policies are further intensified.



According to a survey by Hydrocarbon Processing Magazine, the growth in new gas processing project announcements within the past year indicates a 76 per cent increase. The number of active projects around the world in the last three years averaged 839, while annual projects announcements in the last three years averaged 114 as the growth of both supply and demand drives industry expansion. There should be no wonder as gas is the fuel of choice now, especially in the largest consuming sector of power generation.
"



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Billionaire Poroshenko Triumphs in Ukrainian Elections - Bloomberg #EuroMaidan

Billionaire Poroshenko Triumphs in Ukrainian Elections - Bloomberg:



"Ukrainian billionaire Petro Poroshenko was set to win presidential elections, handing him the task of stemming deadly separatist violence that’s threatened to rip the former Soviet republic apart.



Poroshenko received 54.26 percent of yesterday’s vote with 20.42 percent of ballots counted, according to Ukraine’s central electoral commission in Kiev, set to gain the simple majority needed to avoid a runoff election. Ex-Prime Minister Yulia Tymoshenko was second of the 21 candidates with 13.16 percent. Those counts were in line with two exit polls. While most in Ukraine’s easternmost regions didn’t vote, Poroshenko’s success was welcomed in the U.S. and Europe. 




“The first-round victory shortens the period of uncertainty and stabilizes the system of governance,” Yuriy Yakymenko, head of political research at the Razumkov Center, said by phone from Kiev. “Ukraine gets a legitimate president and the tools to influence the situation in the east.”"



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El-Sisi Looms Over Egypt Vote Billed as Step to Restore Order - Bloomberg

El-Sisi Looms Over Egypt Vote Billed as Step to Restore Order - Bloomberg:



"Egyptians vote today to elect a president in a race widely seen as preordained for the former army chief who toppled the country’s first-ever freely elected civilian leader.



Posters of Abdel-Fattah El-Sisi, whose fame among Egyptians has rocketed since he led President Mohamed Mursi’s ouster in July, plastered Cairo’s streets on the eve of the two-day vote. He faces off against Hamdeen Sabahi, a former lawmaker who came third in the last election in 2012.



The winner takes the helm of a polarized nation struggling since the 2011 uprising against President Hosni Mubarak to recover from political unrest battering the economy, as a surge in violence deters tourists and investors. El-Sisi, 59, has pledged to restore order and improve living standards with the help of aid from oil-rich Gulf monarchies seeing Egypt as too important to be allowed to fail. His critics say he has offered little details on how he will achieve his targets."



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