Google+ Followers

Tuesday, 9 December 2014

When cheap oil is bad for you - YouTube

When cheap oil is bad for you - YouTube: ""



'via Blog this'

Wharf wars - YouTube

Wharf wars - YouTube: ""



'via Blog this'

Outlook stable for GCC banks despite fall in oil price, says Moody’s | The National

Outlook stable for GCC banks despite fall in oil price, says Moody’s | The National:



"Outlook for banks in the GCC will remain stable through to 2015 despite falling oil prices, Moody’s Investors Service said yesterday.



The ratings agency is expecting 10 per cent credit growth for the GCC banking sector for 2014-15, but growth will be more subdued compared to the boom of the past couple of years.



“More moderate credit growth isn’t a bad thing for the Gulf,” said Khalid Howladar, the vice president and senior credit officer at Moody’s."



'via Blog this'

Dubai Parks and Resorts Dh2.5bn IPO to test investor sentiment as DFM slides | The National

Dubai Parks and Resorts Dh2.5bn IPO to test investor sentiment as DFM slides | The National:



"The Dh2.5 billion IPO of Dubai Parks and Resorts is to become a litmus test for investor sentiment as the emirate’s benchmark index fell into bear territory for the second time this year.



Dubai Parks yesterday announced big levels of oversubscription for its offering, with some of the most prestigious investors in the region queuing for shares in the company.



But some investors have become uneasy because of recent weakness in the Dubai Financial Market, where the IPO will begin trading tomorrow. Last week the healthcare and education start-up Amanat was the first IPO to fail to achieve a first day premium on the DFM for five years."



'via Blog this'

Dubai World chairman optimistic on $15bn debt restructuring talks | The National

Dubai World chairman optimistic on $15bn debt restructuring talks | The National:



"Sheikh Ahmed Al Maktoum, the chairman of Dubai World, is “very optimistic” that the conglomerate will strike a deal with creditors over US$15 billion worth of debt that is being restructured in long-running talks with more than 100 banks and financial institutions.



He was speaking on the sidelines of a conference in the emirate, as creditors met separately to discuss terms offered by Dubai World to extend repayment deadlines in exchange for improved terms and collateral.



Although there was no official announcement from Dubai World, it is believed at least two-thirds of creditors gave approval to the new deal, which has been under discussion since April."



'via Blog this'

Putin Plan to Ship Gas to Europe Via Turkey Seen as Unrealistic - Bloomberg

Putin Plan to Ship Gas to Europe Via Turkey Seen as Unrealistic - Bloomberg:



"

When President Vladimir Putin said last week he was ditching a $45 billion pipeline to Europe under the Black Sea, he put forward a Plan B. Russia would build a pipe to Turkey and then ship it overland to Greece and on to the rest of the continent.



It’s an idea seen as having little more chance of succeeding than the original Plan A. 




“It’s only show business,” said Necdet Pamir, an energy specialist at Bilkent University in Ankara. A huge gas network from Russia to Turkey to supply European Union markets is unrealistic, he said in a telephone interview."



'via Blog this'

Ferrari World Developer Aldar Gets Debt Help From Moody’s - Bloomberg

Ferrari World Developer Aldar Gets Debt Help From Moody’s - Bloomberg:



"The builder of the world’s biggest indoor theme park isn’t waiting long to refinance debt after winning an investment-grade rating last month.



Aldar Properties PJSC, Abu Dhabi’s largest real estate company, plans to extend maturities on its obligations, Chief Financial Officer Greg Fewer said in an interview. The builder of the sheikhdom’s biggest shopping mall is also seeking to reduce borrowings by almost 40 percent by the end of next year, he said.



“We are refinancing and managing our duration” with a bias toward longer-dated debt, Fewer said by phone Dec. 1. “The yields remain very low and the local bank market is still flush with liquidity.”"



'via Blog this'

Oil to Stay Near $65 for Six Months, Kuwait Petroleum Says - Bloomberg

Oil to Stay Near $65 for Six Months, Kuwait Petroleum Says - Bloomberg:



"Oil prices will stay at about $65 a barrel for at least half a year until OPEC changes its collective production or world economic growth revives, said the head of state-run Kuwait Petroleum Corp.



Oil is trading in a bear market as the U.S. pumps at the fastest rate in more than three decades and demand expands more slowly. OPEC decided on Nov. 27 to maintain its output target, prompting a drop in European benchmark Brent crude to less than $70 a barrel for the first time since May 2010.



“I think oil prices will stay around the current level of $65 for six or seven months until OPEC changes its production policy, or recovery in world economic growth become more clear, or a geopolitical tension arises,” Nizar Al-Adsani, KPC’s chief executive officer, said yesterday in Kuwait City."



'via Blog this'

Dubai Shares Extend Drop Below 4,000 as Gulf Stocks Slide on Oil - Bloomberg

Dubai Shares Extend Drop Below 4,000 as Gulf Stocks Slide on Oil - Bloomberg:



"Dubai’s benchmark stock index plunged below 4,000 for the first time since July, tracking a decline in global equities as oil prolonged its slide.



The DFM General Index (DFMGI) tumbled 5.3 percent to 3,815.53 at 12:06 p.m. local time, poised for the lowest close since February and the longest losing streak since 2012. Abu Dhabi’s ADX General Index slumped 4 percent, Qatar’s QE Index lost 2.6 percent and Saudi Arabia’s Tadawul All Share Index fell 2.7 percent. Emerging-market stocks fell for a third day amid a sell-off in energy companies as oil dropped to a five-year low.



“Weaker oil has put a dark cloud on the GCC markets,” Ahmed Shehada, head of advisory and institutions at NBAD Securities LLC in Abu Dhabi, said by e-mail. “While there is no reason for the impact to be so strong in the market, foreign outflows have further stimulated this drop.”"



'via Blog this'