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Tuesday, 2 September 2014

Qatar to relinquish hold as world leader in LNG exports | Arab News

Qatar to relinquish hold as world leader in LNG exports | Arab News — Saudi Arabia News, Middle East News, Opinion, Economy and more.:



"Over the last decade, the discovery of massive quantities of unconventional gas resources around the world has spurred a renaissance within global energy markets, redirecting international attention to natural gas as a leading source of energy supply.



Modern technology allows natural gas to be chilled at ultra-low temperatures to a liquid state, called liquefied natural gas or LNG, making it easier to store and transport.



Buyers of LNG process the gas through specialized import facilities that convert it back into its gaseous state."



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Why are so many companies ignoring Emiratisation? | The National

Why are so many companies ignoring Emiratisation? | The National:



"Discussion and debate about Emiratisation has been raging for as long as the policy has been in place, with what seems like little consensus on the main issues. 




This usually indicates that there are underlying issues that are not being addressed. This article aims to unravel the deadlock by supplying innovative views and addressing some of the more controversial issues.



At the heart of the arguments against Emiratisation, or possibly excuses for its lack of implementation, is that Emiratis do not have the skills or work ethic to be hired. The racism and unbelievable arrogance of such a position is breathtaking and points to why this particular issue is discussed only in hushed tones."



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Dubai bank ENBD eyes capital-boosting bond sale | GulfNews.com

Dubai bank ENBD eyes capital-boosting bond sale | GulfNews.com:



"Emirates NBD (ENBD), Dubai’s largest lender, plans to sell a benchmark-sized capital-boosting bond, a document from lead managers said on Monday, looking to take advantage of favourable markets to strengthen its reserves.



ENBD has chosen Citigroup, Commerzbank, Deutsche Bank, Morgan Stanley, Standard Chartered and its own investment banking arm to arrange investor meetings ahead of a potential issue, the document said, confirming what banking sources told Reuters earlier on Monday.



The US dollar-denominated bond, which will boost the bank’s Tier 1 - or core - capital, will have a perpetual tenor which can only be redeemed by the bank after six years and be of benchmark size — traditionally understood to mean worth upwards of $500 million (Dh1.84 billion)."



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Putin Offer to Sell Assets to China to Aid CNPC, Sinopec - Bloomberg

Putin Offer to Sell Assets to China to Aid CNPC, Sinopec - Bloomberg:



"China’s biggest energy companies stand to benefit from Russian President Vladimir Putin’s offer yesterday to sell a stake in the country’s second-biggest oil project to “Chinese friends.”



Putin made the offer in a meeting with Chinese Vice Premier Zhang Gaoli near Yakutsk, East Siberia. OAO Rosneft, Russia’s biggest oil company, produced about 440,000 barrels a day from the Vankor project in the three months to June 30, equivalent to about 4 percent of China’s daily demand.



Russia is turning to China to spur its economy as relations sour with the U.S. and Europe over the Ukraine crisis. Moscow-based Rosneft was added to American sanctions July 16 after the U.S. government froze its Chief Executive Officer Igor Sechin’s assets abroad and slapped a visa ban. Rosneft pumps 40 percent of Russia’s crude."



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Emirates Ready for Wait in Push for Flights to Fortress Germany - Bloomberg

Emirates Ready for Wait in Push for Flights to Fortress Germany - Bloomberg:



"Gulf carrier Emirates said it’s ready to play the long game in seeking to add routes in Germany, one of the few major travel markets that the world’s No. 1 airline by international traffic is struggling to penetrate.



Emirates, which has overcome the modest population of its home base by building Dubai into a long-haul transfer hub, can serve only four German cities under a bilateral air-services accord dating from 1975 that is “maybe a little old,” Chief Commercial Officer Thierry Antinori said yesterday in Frankfurt.



“We will get the traffic rights one day or the other,” Antinori said. “It’s a question of time. We have to respect the rules. Germany is missing an opportunity, it is a pity.”"



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