Google+ Followers

Wednesday, 7 October 2015

.@Ahmed_Mansoor: #UAE activist wins @MartinEnnals Award - #BBC News

Ahmed Mansoor: UAE activist wins Martin Ennals Award - BBC News:

"The jury praised Ahmed Mansoor for regularly raising concerns about arbitrary detention, torture and degrading treatment in the Gulf state.
As a result, it said, he had faced repeated intimidation, harassment and death threats from the UAE authorities and their supporters.
Mr Mansoor could not collect the award in Geneva because of a travel ban."



'via Blog this'

MIDEAST STOCKS-Gulf rises on strong oil; Dubai tests chart barrier | News by Country | Reuters

MIDEAST STOCKS-Gulf rises on strong oil; Dubai tests chart barrier | News by Country | Reuters:

"Gulf stock markets rose moderately in early trade on Wednesday after oil prices jumped overnight, although modest trading volumes on the bourses showed many investors remain wary of the longer-term direction.

Dubai's stock index was up 1.0 percent at 3,694 points after an hour, testing technical resistance around 3,700 points, which capped it repeatedly in September. Any break of its recent range would point it up to around 3,900 points.

Real estate developer DAMAC surged 4.0 percent and was the market's most heavily traded stock after the company said it was starting a month-long roadshow to showcase its portfolio and promote Dubai as investment destination; it will attend events and exhibitions in India, Britain and Kenya."



'via Blog this'

Living with a lower oil price becomes the new normal - FT.com

Living with a lower oil price becomes the new normal - FT.com: "When Abu Dhabi Commercial Bank failed to close a bond last month, Gulf financiers drew a worried breath.
The second-largest bank by assets in the wealthy capital of the United Arab Emirates (UAE) did not manage to attract the right balance of lenders at a cheap enough price for its benchmark bond — so it pulled the plug on the issue.
The failed transaction illustrates how Gulf lenders are suffering a liquidity squeeze that is quickening, as governments lean on local lenders by both withdrawing their deposits and raising new debt.

"



'via Blog this'

Why the ArabianMoney financial comment website is closing down at the end of this month « ArabianMoney

Why the ArabianMoney financial comment website is closing down at the end of this month « ArabianMoney:



Meanwhile this blog, initiated in 2006, in word format, on Blogger since 2009, continues :-)



'via Blog this'

No real estate gains for Dubai as softening continues | GulfNews.com

No real estate gains for Dubai as softening continues | GulfNews.com:

"As another quarter goes by, it seems there is no stopping the downward trend in sales transactions and values that has taken hold of the Dubai property market.

At this rate — and without something happening suddenly to turn things around — home prices in Dubai could continue to drop all through next year, according to projections put out by the consultancy JLL, with the next ‘growth cycle’ being pushed further down the line to the period just before Dubai’s Expo 2020.

Apartment prices in the third quarter dropped 3 per cent compared to the second quarter but for tenants there is little to cheer about as rental values fell 1 per cent quarter-on-quarter, JLL estimates show."



'via Blog this'

Abraaj enters into partnership with India’s Aditya Birla Group for solar power plants | GulfNews.com

Abraaj enters into partnership with India’s Aditya Birla Group for solar power plants | GulfNews.com:

"The Abraaj Group said on Wednesday it has entered into a partnership with the Aditya Birla Group, to build a gigawatt-scale renewable energy platform focused on developing solar power plants in India.

Abraaj will invest in the platform through one of its Funds and the Aditya Birla Group will invest through Aditya Birla Nuvo Limited, the private equity firm said in a statement.

The partnership comes at an opportune time in the growth of the Indian renewable energy sector."



'via Blog this'

MIDEAST STOCKS-Oil price leap to boost Gulf markets | Reuters

MIDEAST STOCKS-Oil price leap to boost Gulf markets | Reuters:

"An overnight leap in oil prices is set to boost Gulf stock markets on Wednesday, while the start of the Saudi Arabian third-quarter earnings reporting season may spur interest in that market.

Brent crude jumped 5.4 percent on Tuesday, closing above $50 a barrel for the first time in a month, and rose further to $52.33 in Asian trade on Wednesday morning.

The U.S. Energy Information Administration predicted in a report that global oil demand would grow by the most in six years in 2016 while non-OPEC supply would stall. Overall, the report suggested a global supply glut might be easing."



'via Blog this'

Malaysian Sultans Urge Transparency on Najib-Linked Fund Probe - Bloomberg Business

Malaysian Sultans Urge Transparency on Najib-Linked Fund Probe - Bloomberg Business:

"Prime Minister Najib Razak’s administration needs to complete investigations into a debt-ridden government investment company soon to help resolve a crisis in confidence in the country, the rulers of Malaysia’s 13 states said in a statement.
Findings of the probe of 1Malaysia Development Bhd. must be “reported comprehensively and in a transparent manner" to convince Malaysians there is no concealing of the truth, state news agency Bernama reported, citing the statement. The group comprises the sultans of nine states and the governors or head of state of four others.
1MDB has been the subject of overlapping investigations by entities including the central bank and the police amid allegations of financial irregularities. The Wall Street Journal reported in July that about $700 million may have moved through government agencies and companies linked to 1MDB before ending up in accounts bearing Najib’s name ahead of elections in 2013. The Malaysian Anti-Corruption Commission said the money was from donors in the Middle East, not 1MDB. Najib has denied any wrongdoing."



'via Blog this'

The ‘Billionaire’ Entrepreneur Behind Iran’s Super Mall - Bloomberg Business

The ‘Billionaire’ Entrepreneur Behind Iran’s Super Mall - Bloomberg Business:

"Despite being hobbled by sanctions, Iran is in the midst of a shopping mall boom. Several modern shopping malls, some of them just catering for luxury brands, have opened in the capital, Tehran, in the past few years. Several more are currently under construction — with the biggest concentration being in the city’s well-heeled, tree-lined northern neighborhoods.
Yet none of those in the capital can match the size and ambition of the Isfahan City Centre shopping mall on the outskirts of Iran's fabled historic city and former capital.
The man who built it, Masoud Sarrami, says it is the largest shopping mall in the Middle East after the Dubai Mall, in the United Arab Emirates. It contains a university, a museum, an indoor theme park and a wedding centre, with which Sarrami hopes to combat divorce rates in Iran. When completed in 2016, Sarrami expects Isfahan City Centre will also be surrounded by a five-star hotel, a healthcare “city” and a financial district."



'via Blog this'