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Monday, 20 July 2015

MIDEAST STOCKS-UAE markets rise ahead of Q2 results | Reuters

MIDEAST STOCKS-UAE markets rise ahead of Q2 results | Reuters:



"Property companies lifted Dubai's stock market on Monday and banks supported Abu Dhabi as expectations for positive second-quarter results boosted both sectors.



Dubai's index jumped 2.0 percent to a four-week closing high of 4,184 points and the emirate's largest listed developer, Emaar Properties, was the main support, adding 2.3 percent.



The company has yet to report second-quarter results, but another Dubai developer, Deyaar, posted a 37.5 percent jump in quarterly profit last week."



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Winners and losers from Iran’s eventual return to global energy markets | The National

Winners and losers from Iran’s eventual return to global energy markets | The National:



"One of the most consequential international agreements signed in decades – the nuclear deal reached with Iran in Vienna last week – may also prove to be a turning point in global energy markets. Once implemented, it brings one of the world’s leading holders of oil and gas back into world markets.



Such a shift in energy affairs inevitably brings winners and losers – but even those put at a disadvantage can yet salvage some compensations. So who are the winners?



The Iranian government itself, and its people, of course, should benefit from a release of frozen funds, an increase in oil and petrochemical exports, and the gradual return of foreign investment to the energy sector."



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Return of Iranian oil may cause more Opec tensions | GulfNews.com

Return of Iranian oil may cause more Opec tensions | GulfNews.com:



"The return of oil from Iran following the landmark nuclear energy deal with world powers could create fresh tensions within Opec but may reinforce the organisation’s output strategy, analysts say.



Tehran and major powers — Britain, China, France, Germany, Russia and the United States — clinched a historic agreement in Vienna on Tuesday aimed at ensuring Iran does not obtain a nuclear bomb, and which paves the way for the removal of sanctions and the gradual return of Iranian oil to the global market next year.



The accord puts strict limits on Iran’s nuclear activities for at least a decade. In return, sanctions that have slashed the oil exports of Opec’s fifth-largest producer will be lifted and billions of dollars in frozen assets unblocked."



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Post-deal Iran an opportunity but legal minefield too - FT.com

Post-deal Iran an opportunity but legal minefield too - FT.com:



"Depending which banker you talk to, it is either the biggest opportunity in a generation or a legal minefield to avoid at all costs.



This week’s deal between Iran and six world powers to lift all major economic sanctions against the country in return for limiting its nuclear programme has senior rainmakers at some of the world’s biggest financial institutions licking their lips.



“We already have an Iranian colleague telling me how we should be doing more business in Iran,” said one senior executive at a top US investment bank. “Someone from the firm will get on a plane and look at how it is evolving. Once we are allowed to do that we will look at it. But we don’t have an Iranian business plan.”"



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Oil edges lower as Saudi crude exports fall, U.S. cuts drill rigs | Reuters

Oil edges lower as Saudi crude exports fall, U.S. cuts drill rigs | Reuters:



"Oil prices edged lower on Monday as data showed Saudi Arabian exports fell to the lowest in five months despite record output, while a resurgence in U.S. drilling activity seen earlier this month seemed to fizzle out.



Both international and U.S. crude futures posted their third consecutive weekly losses last week on expectations of increased exports from Iran following a deal to ease sanctions against the OPEC producer.



Brent September crude was 14 cents lower at $56.96 a barrel by 0708 GMT. The benchmark fell nearly 3 percent last week and more than 10 percent for the month."



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MIDEAST STOCKS-Property stocks support UAE markets | Reuters

MIDEAST STOCKS-Property stocks support UAE markets | Reuters:



"Property companies lifted stock markets in Dubai and Abu Dhabi early on Monday, though trading volumes were low, with many investors in the region still celebrating the Muslim holiday of Eid al-Fitr.



Dubai's index rose 0.9 percent, with developer Union Properties up 5 percent and the most traded stock in the emirate. The company has yet to report second-quarter results, but another Dubai developer, Deyaar , posted a 37.5 percent jump in quarterly profit last week.



Emaar Properties, Dubai's largest listed developer, added 1.1 percent and DAMAC, another property company, was up 0.3 percent."



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