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Monday, 1 June 2015

Why do energy groups want a carbon tax? - YouTube

Why do energy groups want a carbon tax? - YouTube: ""



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MIDEAST STOCKS-Qatar rebounds further; other Gulf markets edge up | News by Country | Reuters

MIDEAST STOCKS-Qatar rebounds further; other Gulf markets edge up | News by Country | Reuters:



"Qatar's bourse led gains in the Gulf on Monday as it recovered from a sell-off sparked by the arrests and investigations at world soccer body FIFA last week, while most other markets edged up in low-volume trade.



The Qatari benchmark rose 1.1 percent. Fears that Doha might potentially lose the rights to host the 2022 World Cup have abated this week after the country defended its winning bid and FIFA head Sepp Blatter secured re-election.



Most stocks in Doha rose although Qatar Insurance and Ezdan Holding fell 2.9 and 0.1 percent respectively, having surged last month on their inclusion in MSCI's benchmark."



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MIDEAST STOCKS-Saudi Arabia slips as oil falls; Egypt edges up - Yahoo News

MIDEAST STOCKS-Saudi Arabia slips as oil falls; Egypt edges up - Yahoo News:



"Saudi Arabia's stock market slipped in early trade on Monday, tracking oil prices, while Egypt's bourse edged up on positive corporate news.



Brent crude dropped below $65 per barrel on Monday on expectations that OPEC production would remain high, stoking worries of oversupply despite declining U.S. rig operations.



The main Saudi stock index edged down 0.2 percent and heavyweight petrochemicals firm Saudi Basic Industries lost 1.0 percent. Most other stocks also declined."



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Emaar Misr scales back pricing of Egyptian IPO | The National

Emaar Misr scales back pricing of Egyptian IPO | The National:



"Emaar Misr, the Egyptian unit of Dubai’s Emaar Properties, has scaled back the price of its listing of 600 million shares on the Egyptian bourse to $353 million from a previous $367m.



The Emaar listing is expected to be the largest flotation on the Cairo exchange since 2007. The Egyptian subsidiary has a portfolio of investments in Egypt worth around 53 billion Egyptian pounds (US$6.95bn), according to its website.



The subsidiary of Dubai’s largest real estate developer said in an announcement in Egyptian newspapers on Monday the shares will be priced at a maximum of 4.49 Egyptian pounds each, meaning the offer is expected to raise 2.69bn pounds."



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Dubai property index turns negative for first time in four years | The National

Dubai property index turns negative for first time in four years | The National:



"Dubai property prices fell in April as a property index in the emirate turned negative for the first time in four years.



The residential prices index started declining from the second quarter of last year – in line with the fall in oil and gold prices, according to Reidin, a property information company.



The index dropped about 3 per cent in April from the same period last year, Reidin said."



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Where GCC investors buy properties | GulfNews.com

Where GCC investors buy properties | GulfNews.com:



"Developers continue to unveil luxury real estate projects in Dubai, but a significant number of the region’s ultra-rich are looking elsewhere to park their money.



Knight Frank’s Middle East Capital Tracker, which monitors real estate investors’ preferred destinations, showed that nearly six in ten (58 per cent) of property investors from the GCC prefer to acquire new assets in the UK.



“A broad look at the results shows that the UK remains a firm favourite for almost three-fifths of investors from this region,” said Knight Frank in its report."



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Missed opportunities for Iraq’s refining industry | GulfNews.com

Missed opportunities for Iraq’s refining industry | GulfNews.com:



"The Iraqi Forum of Intellectuals and Academics, which was established last year in Istanbul, recently held a seminar on industry, oil and electricity in Iraq. I was asked to give a presentation on Iraqi refineries and gas processing plants and for that purpose I found it necessary to review development since the occupation in 2003.



The history of the country’s refining industry goes back to 1927 when a small one was set up close to the Iraq-Iran border. But the industry took off in the 1950s when the Daura refinery was built, and in the 1970s when Basra refinery came on stream.



Finally, in the 1980s, the large Baiji with its three production lines was commissioned to bring overall refining capacity to almost 700,000 barrels a day. The industry with its lubricants production became one of the best in the region."



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UPDATE 1-MIDEAST STOCKS-Gulf markets narrowly mixed; Emaar, DSI support Dubai | News by Country | Reuters

UPDATE 1-MIDEAST STOCKS-Gulf markets narrowly mixed; Emaar, DSI support Dubai | News by Country | Reuters:



"Gulf markets were narrowly mixed in early trade on Monday, consolidating after large one-off fund flows caused by the rebalancing of MSCI's emerging markets index at the end of last week.



Dubai's index edged up 0.5 percent as most shares climbed on low volumes. Heavyweight Emaar Properties added 0.7 percent after its Egyptian unit announced the details of its upcoming initial public offer.



Engineering and construction firm Drake and Scull International rose 1.3 percent after it said its unit had won contracts worth 350 million dirhams ($95.3 million) in Oman."



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Credit Suisse Hiring Equities Bankers on Saudi Market Opening - Bloomberg Business

Credit Suisse Hiring Equities Bankers on Saudi Market Opening - Bloomberg Business:



"Credit Suisse Group AG plans to expand its equities sales and research team in Saudi Arabia as the Arab world’s largest bourse opens to direct foreign investment.



The bank may also hire additional investment bankers if the opening of the $572 billion exchange to foreign investors leads to international banks winning more IPO mandates, Abdulaziz Bin Hassan, managing director and chief executive officer of Credit Suisse Saudi Arabia, said in an interview in Riyadh. He declined to give more details how many people could be hired.



Foreigners will be able to start buying Saudi Arabian equities on June 15 under plans by the market regulator to attract more institutional investors onto the exchange. The opening will result in foreign inflows of about $40 billion over the next five years, Dubai-based Arqaam Capital said in a research note in April. Credit Suisse shifted its regional equities team from Dubai to Riyadh in late 2012."



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