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Wednesday, 18 May 2016

Commodity prices on a tear | Short View - YouTube

Commodity prices on a tear | Short View - YouTube: ""



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UAE’s legal structure must evolve as its economy grows | The National

UAE’s legal structure must evolve as its economy grows | The National:

"An economy becomes more complex as it matures. Just as an economy develops the capacity to handle market complexity, so it must build the capacity to resolve the issues that greater complexity will inevitably generate.

In stock market terms, Arabian Gulf economies have moved from “pioneer" to “emergent". That description would seem to be behind the curve. Even so, the trend is evident.

Gulf states are in the process of developing legal architecture to match. As William Blair, a commercial court judge in England, recently noted: “The importance of commercial justice is linked to economic development." This means setting up specialist courts (or circuits, or lists). It means providing specially trained judges with appropriate expertise. It means encouraging specialist professional competence among advocates."



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MIDEAST STOCKS-Egypt lifted by foreign money; Gulf bourses lose steam | Reuters

MIDEAST STOCKS-Egypt lifted by foreign money; Gulf bourses lose steam | Reuters:

"Foreign funds boosted the Egyptian stock market for a second straight day on Wednesday, exchange data showed, while Gulf bourses lost steam as investors took profits.

Cairo's main index added 1.2 percent following its 1.9 percent jump on Tuesday, taking the bourse's gains for 2016 to 9.0 percent. Global Telecom Holding, a stock preferred by international managers, gained 1.1 percent.

"For now foreign fund managers seem to be at ease with current FX prices, and find the market attractive at current levels compared to other emerging markets," said a Cairo-based fund manager.

"



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Full Show: Bloomberg Markets Middle East (05/18) - Bloomberg

Full Show: Bloomberg Markets Middle East (05/18) - Bloomberg:

"Bloomberg Markets Middle East hosted by Manus Cranny and Yvonne Man. Guests include Patrick George, global head of equities at HSBC, Sultan Ahmed Bin Sulayem, chief executive officer and chairman at DP World, and Mohammed Ali Yasin, managing director at NBAD Securities. (Source: Bloomberg)"



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Middle East needs to close gender gap to spur growth | beyondbrics

Middle East needs to close gender gap to spur growth | beyondbrics:

"For years, the Middle East and North Africa has been grappling with conflict, widespread unemployment, and civil unrest. Today, governments across the region face the additional challenges of an unprecedented refugee influx, inadequate infrastructure after years of neglect, and lukewarm investor sentiment. With all of this, should closing gender gaps be a priority in the region?

A growing body of evidence makes a strong business case for saying “yes” and ensuring that women are fully integrated into the economy. A report from the International Monetary Fund (IMF) found that if Egypt leveled the economic playing field, for example, it could boost its GDP by 34 per cent.

According to the International Labour Organisation (ILO), women’s work is an important poverty-reducing factor in developing economies. Greater earnings by women could result in higher spending on school enrollment for children, including girls. Economies in the Middle East and North Africa (MENA) gain tremendously from closing economic gender gaps."



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Fracking will provide a buffer for consumers as oil price rises - FT.com

Fracking will provide a buffer for consumers as oil price rises - FT.com:

"Oil producers in the US have already ridden to the rescue of consumers once this decade. Soon they may have a chance to do it again. The oil market has been hit by a series of shocks, from wildfires in Canada to militant attacks in Nigeria, which have taken an estimated 3m barrels a day from global supplies.
The glut that has sent prices plunging since 2014 has been clearing faster than expected. Internationally traded Brent crude, which was about $27 per barrel in January, is hovering at about $50. With Russian production expected to decline and Venezuela staring into the abyss, there is a real risk that further disruptions will drive prices higher still."



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MIDEAST STOCKS-Most Gulf bourses slip in early trade, Saudi firm | Reuters

MIDEAST STOCKS-Most Gulf bourses slip in early trade, Saudi firm | Reuters:

"Most Gulf bourses were weak in early trade on Wednesday as investors booked profits, while Saudi Arabia's index edged up.

Saudi Arabia's Advanced Petrochemical surged 3.5 percent after the company announced plans to increase its share capital by 20 percent to support future growth. The company also said it recommended distributing a cash dividend of 0.75 riyal per share for the first quarter.

"We expect the company will distribute 3.0 riyals per share for 2016. If annualised, the dividend yield will be 6 percent," said a note by NCB Capital. The range of dividend yields is between 4 and 9 percent for Saudi petrochemical producers, according to Reuters data."



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IMF calls for Iran reforms to attract international investors - FT.com

IMF calls for Iran reforms to attract international investors - FT.com:

"Iran must implement macroeconomic and structural reforms and combat money laundering and terrorist-financing if it is to reintegrate into the global economy, the International Monetary Fund said on Tuesday.
“The first and most basic requirement for access to international markets is maintaining good macroeconomic policies so you are viewed as a good credit . . . and creating an environment in which the economy has a better growth prospect,” David Lipton, the IMF’s first deputy managing director, said in Tehran."



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Qatar raises stake in British Airways parent company - FT.com

Qatar raises stake in British Airways parent company - FT.com:

"Qatar Airways has raised its stake in the owner of British Airways for the second time in less than a month and signalled it could increase it further.
The Doha-based carrier, the largest shareholder in International Airlines Group since last year, said on Tuesday that it had upped its stake in IAG from 12 to 15 per cent.
The government-controlled airline added that it could look to “increase its stake over time within the allowable limits”, acknowledging the ownership restrictions that apply to non-EU shareholders in EU airlines."



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IMF Visits Iran to Assess Reconnect to Global Economy - Bloomberg

IMF Visits Iran to Assess Reconnect to Global Economy - Bloomberg:

"The IMF says Iran must tackle problems in its banking system and bolster terrorism financing laws if it wants to reconnect with the global economy. Bloomberg's Ladane Nasseri reports on "Bloomberg Markets Middle East." (Source: Bloomberg)"



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IMF Questions Abu Dhabi's Austerity - Bloomberg

IMF Questions Abu Dhabi's Austerity - Bloomberg:

"Months of cheap oil have forced many of the gulf nations to tighten the purse strings. Abu Dhabi reduced its spending by one-fifth and plans to cut another 17% this year. The IMF is concerned that such austerity may cause unnecessary pain. Bloomberg's Zainab Fattah reports on "Bloomberg Markets Middle East." (Source: Bloomberg)"



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Qatar Hires JLo to Promote New Route to Delta's Hometown - Bloomberg

Qatar Hires JLo to Promote New Route to Delta's Hometown - Bloomberg:

"The chief executive of Qatar Airways Ltd. -- and chief antagonist of Delta Air Lines Inc. -- has said that his new Atlanta-Doha route would “rub salt in the wounds” of his U.S. rival. Jennifer Lopez will be on hand to shake out the first dash.
On Tuesday night the Persian Gulf airline will celebrate flights linking Qatar’s capital to Delta’s headquarters city, with J. Lo, as the star is known, expected to perform at the city’s historic Fox Theatre in front of Qatar CEO Akbar Al Baker and guests. 
Delta fired back hours before Lopez’s show, saying it wouldn’t renew its sponsorship of the Fox next year after more than 20 years of support."



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