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Wednesday, 16 September 2015

Jeremy Corbyn: Labour won't back EU exit - BBC News

Jeremy Corbyn: Labour won't back EU exit - BBC News:

"Labour leader Jeremy Corbyn has told the BBC that he will not campaign for Britain to leave the European Union.
Mr Corbyn said that while policy was "developing" he could not foresee a situation where Labour would campaign for a "Brexit" under his leadership.
He has come under growing pressure from Labour MPs to clarify his position."



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Norway suffers from oil downturn | FT World Notebook - YouTube

Norway suffers from oil downturn | FT World Notebook - YouTube: ""



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Has Opec’s strategy slowed US shale output? | FT Markets - YouTube

Has Opec’s strategy slowed US shale output? | FT Markets - YouTube: ""



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MIDEAST STOCKS-Oil lifts Gulf; bargain-hunting buoys Egypt | Reuters

MIDEAST STOCKS-Oil lifts Gulf; bargain-hunting buoys Egypt | Reuters:



"Most Gulf stock markets rose on
Wednesday, moving in line with oil prices and global equities.
Egypt's bourse extended its rally as investors bought
beaten-down stocks, hoping that the market had bottomed out.



Dubai's index climbed 1.8 percent and property
developer DAMAC was the most traded stock, jumping
2.0 percent after its shareholders approved the firm's first
cash dividend since it listed in Dubai in January.



DAMAC will pay investors 0.1 dirham per share in cash and
make a 10 percent bonus share issue."



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What next for property in Dubai, Abu Dhabi and beyond? | The National

What next for property in Dubai, Abu Dhabi and beyond? | The National:

"Property has been one of the most dazzling investments since the financial crisis as global hotspots attract wealthy investors from all over the world.

Cities as diverse as London, Hong Kong, Jakarta, Dublin, Vancouver, Miami, Sydney and Istanbul have all posted double-digit annual growth figures in recent times.

The UAE has also been swept up in the property bonanza – notably in 2013, when Dubai posting an incredible 51 per cent growth, according to Cluttons."



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Oil price volatility, other factors hurting IPO market in GCC | GulfNews.com

Oil price volatility, other factors hurting IPO market in GCC | GulfNews.com:

"Oil price volatility among other factors are hurting the primary issues from companies in the GCC (Gulf Cooperation Council), souring the mood among regional and global investors, industry participants said at a conference on Tuesday.

Brent crude has fallen more than 50 per cent from its 2014 high, and has oscillated in the range of $45-$65 per barrel amid a lot of volatility in 2015, dimming appeal of the equity markets in the GCC countries, dependent on oil.

“Oil prices and geopolitical issues in the region have been contributing to slack in IPO [initial public offering] pipeline,” said Rashed Al Mansouri, chief executive officer at Qatar Stock Exchange, adding, “we should also not forget the cost of IPOs and the regulatory requirements.”"



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Kuwait plans bond sale this year to fill ’gap’ from falling oil | GulfNews.com

Kuwait plans bond sale this year to fill ’gap’ from falling oil | GulfNews.com:



"Kuwait plans to sell dinar-denominated bonds this year as Gulf Cooperation Council countries seek to plug their budget deficits amid falling oil prices.

“We’re starting with local currency issues and then we’ll be shifting to foreign currencies later if needed,” Finance Minister Anas al-Saleh told reporters at a conference in Kuwait Tuesday. “We’re looking at alternatives to fill the current financial gap, including capital markets.”

Opec’s fifth-biggest producer may also sell dollar- denominated bonds if the dinar sale “has any impact or negative effect on our foreign reserves in the central bank and on the domestic market,” he said."



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Inside the London megaport you didn't know existed | Art and design | The Guardian

Inside the London megaport you didn't know existed | Art and design | The Guardian:

"Once the capital’s lifeblood, London’s docks have long since faded to little more than a garnish of maritime nostalgia on riverside real estate. Where once burly dockers hauled crates of exotic cargo, now bankers engage in international trade of a less visible kind. The physical economy of heaving stuff to and fro has been replaced by the streamlined global flow of finance, conducted in anonymous glass towers.

Or so the story goes.

It might come as a surprise to learn, then, that London’s docks are back – on a bigger scale than ever before. Running almost 3km along the Thames estuary is a £1.5bn new megaport that has literally redrawn the coastline of Essex, and wants to make equally radical shifts to the UK’s consumer supply chain."



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Investors in gulf property look forward to a less bumpy ride - FT.com

Investors in gulf property look forward to a less bumpy ride - FT.com:

"Dubai is the ultimate case study for anybody who wants to comprehend the profound influence that the globalisation of wealth exerts on the world’s property markets.
Over the past decade, the emirate has been on a real estate roller-coaster ride of boom, crash and recovery. Property values halved between 2008 and 2010, but then rose phoenix-like from the desert to regain most of their losses by 2014."



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Iraq warns big oil groups on spending curbs in southern oilfields - FT.com

Iraq warns big oil groups on spending curbs in southern oilfields - FT.com:

"Iraq has warned big western oil groups they are likely to have to cut spending on its southern oilfields in the coming year after a collapse in international prices that has left Baghdad with less revenue to pay them.
In a letter seen by the Financial Times, and sent to companies including ExxonMobil, Royal Dutch Shell, BP and Italy’s Eni, the country’s oil ministry says that the government “has sharply reduced the funds available” to it and that this will lead to “corresponding reductions of spending within the ministry”."



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An inexplicable bond sell off | Authers' Note - YouTube

An inexplicable bond sell off | Authers' Note - YouTube: ""



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What Fed decision means for Europe and EM | FT Markets - YouTube

What Fed decision means for Europe and EM | FT Markets - YouTube: ""



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MIDEAST STOCKS-Gulf markets rise alongside oil | Reuters

MIDEAST STOCKS-Gulf markets rise alongside oil | Reuters:

"Most Gulf stock markets rose early on Wednesday, after oil prices edged up and Chinese shares rebounded.

Dubai's index climbed 1.2 percent and property developer DAMAC was the most traded stock, jumping 2.8 percent after its shareholders approved the firm's first cash dividend since it listed in Dubai in January.

DAMAC will pay investors 0.1 dirham per share in cash and make a 10 percent bonus share issue."



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