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Monday, 9 February 2015

Qatar Airways eyes longer-term aims with IAG stake - FT.com

Qatar Airways eyes longer-term aims with IAG stake - FT.com:



"When one airline buys a minority stake in another, it is often hard to fathom what the purchaser expects to achieve.



A shareholding rarely confers the influence necessary to extract valuable synergies from the relationship. That is especially true when the buyer is foreign. Aviation remains tightly hemmed in by national ownership rules.



Nor is it an obvious way to gain commercial advantages. There are easier ways for two airlines to co-operate on routes, such as code-sharing deals (which allow passengers to travel seamlessly on either carrier’s services) and joint ventures."



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Iranians seek modern lifestyle - YouTube

Iranians seek modern lifestyle - YouTube: ""



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Abu Dhabi Seeking Bids for Largest Onshore Oil Fields Tomorrow - Bloomberg Business

Abu Dhabi Seeking Bids for Largest Onshore Oil Fields Tomorrow - Bloomberg Business:



"Abu Dhabi National Oil Co. is seeking final bids by tomorrow for concessions to the emirate’s largest onshore fields, said Abdullah Nasser Al Suwaidi, director general of the state-owned company.



The offers must match terms of the agreement Adnoc reached with Total SA, Al Suwaidi said at a conference in Dubai. Total is Adnoc’s first partner in a 40-year concession to fields in the biggest sheikhdom of the United Arab Emirates.



Al Suwaidi declined to say if any more bidders than Total have made final offers. The deadline is tomorrow “for those who haven’t submitted,” he said. Al Suwaidi declined to specify the terms of Adnoc’s agreement with Total, saying the fee the Paris-based company will earn for each barrel of oil it may produce is confidential."



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UPDATE 2-MIDEAST STOCKS-Saudi Arabia edges up, Egypt slips | Reuters

UPDATE 2-MIDEAST STOCKS-Saudi Arabia edges up, Egypt slips | Reuters:



"Saudi Arabia's market rose in early trade on Monday, although at a slower pace than in the previous session when oil was rallying, while Egypt pulled back after performing very well in the last few weeks.



Saudi Arabia's stock index rose 0.4 percent and shares in Saudi Kayan Petrochemical Co jumped 2.6 percent.



The stock had surged its daily 10 percent limit on Sunday after the kingdom's oil ministry allocated more natural gas to Saudi Kayan for it to expand ethylene production at its petrochemical complex in Jubail."



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EM fund managers: genuinely active or closet trackers? | beyondbrics

EM fund managers: genuinely active or closet trackers? | beyondbrics:



"How much bang do fund managers give for their investors’ bucks? It’s a question that has provoked plenty of debate in the FT recently, prompted not least by the “scandalous index cloning epidemic” in which supposedly active managers charge high fees for simply following a benchmark.



EM investors are far from immune. So they may be interested to hear of a new service offered by Copley Fund Research, which tracks the performance of 100 of the biggest global emerging market equity funds, with a combined $265bn of assets under management.



Copley promises to use two measures “to rank how active EM funds are in relation to the benchmark MSCI EM index. This is in reaction to a growing concern from investors over certain active funds charging higher fees for what is essentially a passive strategy.”"



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Abu Dhabi goes global with new free zone | The National

Abu Dhabi goes global with new free zone | The National:



"With its towering glass and steel office blocks and striking architecture, walking around Abu Dhabi’s newly named financial district Abu Dhabi Global Market Square on Al Maryah Island, it is easy to draw grandiose comparisons with the early days of London’s Canary Wharf and Paris’s La Defense.



Crossing the bridge from close to the Abu Dhabi Mall on to Al Maryah Island, one is immediately struck by the soaring ultra-modern buildings of the office, hotel and shopping district that would not look out of place in major US or European cities.



Like in many international financial centres, the streets in this quarter of town are not exactly bustling with people, but a few well-heeled visitors climb in and out of luxury cars or shuffle around the upmarket boutiques."



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What now for the House of Saud - FT video


Saudi Arabia’s new king faces challenging fiscal climate - FT.com

Saudi Arabia’s new king faces challenging fiscal climate - FT.com:



"When King Salman bin Abdulaziz al-Saud became Saudi Arabia’s king last month, he followed family tradition by showering his people with money.



Bonuses were given to state employees and pensioners, and big investments in infrastructure were announced. The handouts, worth an estimated $32bn, are a political necessity in his nation, where the royal family provides services and benefits in return for loyalty.



“The bonuses are the usual practice when there’s a succession,” said Steffen Hertog, associate professor at the London School of Economics. “Although perhaps some were doubting whether it would happen because of the oil price situation.”"



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Dubai’s Real-Estate Moguls Bet on Another Property Boom - WSJ

Dubai’s Real-Estate Moguls Bet on Another Property Boom - WSJ:



"Real-estate mogul Safi Qurashi is often asked why he has stayed in Dubai after he was imprisoned here for nearly three years and came close to losing his entire business.



“Why should I leave?” The 45-year-old Briton says. “Dubai is still full of opportunity.”



Mr. Qurashi is just one of a cadre of high-profile, sometimes controversial, property magnates who built their reputation in Dubai’s last property bubble. Many are now back building weird, wonderful and some say wildly overambitious projects in another go-go era for the Middle East’s capital of bling."



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Iran's Khamenei says could accept fair nuclear compromise | Reuters

Iran's Khamenei says could accept fair nuclear compromise | Reuters:



"Iran's supreme leader said on Sunday he could accept a compromise in nuclear talks and gave his strongest defense yet of President Hassan Rouhani's decision to negotiate with the West, a policy opposed by powerful hardliners at home.



As his foreign minister met counterparties in the talks at a conference in Munich, Ayatollah Ali Khamenei said he "firmly" backed a fair nuclear deal.



"I would go along with any agreement that could be made. Of course, if it is not a bad deal. No agreement is better than an agreement which runs contrary to our nation's interests," Ayatollah Ali Khamenei told Iranian air force personnel, according to official news agencies."



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