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Tuesday, 28 June 2016

MIDEAST STOCKS-Gulf mixed in quiet trade, IMF hopes don't aid Egypt much | Reuters

MIDEAST STOCKS-Gulf mixed in quiet trade, IMF hopes don't aid Egypt much | Reuters:

"Gulf stocks were mixed in quiet trade on Tuesday as global markets regained some strength after the shock of the British vote to leave the European Union. Signs of progress toward an International Monetary Fund loan failed to lift Egypt much.

With oil prices off their lows, Gulf investors feel Brexit may have little impact on their economies, although weakness in the pound and euro could affect Dubai's real estate and tourism sectors. Brent oil was up 2.7 percent to $48.41 a barrel as Gulf markets traded on Tuesday.

But Ramadan and summer holidays are limiting activity and deterring Gulf investors from taking large positions given the risk of more global market instability. Saudi Arabia's market will be closed throughout next week for Eid al-Fitr."



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Full Show: Bloomberg Markets Middle East (06/28) - Bloomberg

Full Show: Bloomberg Markets Middle East (06/28) - Bloomberg:




"Bloomberg Markets Middle East hosted by Yousef Gamal El-Din and Rishaad Salamat. Guests include Ray Attrill, global co-head of FX strategy at NAB Global, and Mark Martin, founder and chief executive officer at Martin Consulting. (Source: Bloomberg)"



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Brexit's political upheaval | FT Comment - YouTube

Brexit's political upheaval | FT Comment - YouTube: ""



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Iran's Plans For its Oil Fields - Bloomberg

Iran's Plans For its Oil Fields - Bloomberg:




"Iran plans to issue tenders to develop its oil fields this summer as the government is expected to approve a new model oil contract designed to attract investors “in a short amount of time,” Oil Minister Bijan Namdar Zanganeh said, according to an interview published by the Iranian Students News Agency. Bloomberg's Anthony DiPaola reports on "Bloomberg Markets Middle East" with Rishaad Salamat."



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MIDEAST STOCKS-Gulf mixed in quiet trade as global markets stabilise | Reuters

MIDEAST STOCKS-Gulf mixed in quiet trade as global markets stabilise | Reuters:

"Stock markets in the Gulf were mixed in quiet trade early on Tuesday as global markets stabilised following the shock of Britain's vote to leave the European Union.

With oil prices rebounding, investors feel Brexit may have little impact on Gulf economies, although weakness in the pound and euro could affect Dubai's real estate and tourism sectors. Brent oil was up 1.7 percent to $47.95 a barrel in Asian trade.

Ramadan and summer holidays are limiting activity, however, and deterring investors from taking large positions given the risk of more global market instability. Saudi Arabia's market will be closed throughout next week for Eid al-Fitr."



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Singapore Air’s India Unit to Challenge Gulf Carriers’ Dominance - Bloomberg

Singapore Air’s India Unit to Challenge Gulf Carriers’ Dominance - Bloomberg:

"Within weeks of India easing aviation rules, Singapore Airlines Ltd.’s local venture is charting a course to take on carriers from the Middle East. It’s counting on a surge in international traffic from the world’s fastest growing major air-travel market.
Vistara, in which the city-state’s flag carrier owns 49 percent, is considering buying or leasing wide bodied aircraft for long-haul routes and will seek funds from its owners to finance the purchase, the company’s Chief Executive Officer Phee Teik Yeoh said in an interview June 24. Vistara, which has 11 planes in its fleet and is co-owned by India’s Tata Sons Ltd., needs at least nine more to fly abroad under the relaxed policy.

The number of international travelers from India is poised to grow 10-fold to 500 million by 2050, according to a CAPA Centre of Aviation study that was commissioned by Vistara. The carrier’s plans may be the start of a fresh challenge for Emirates Airline and Etihad Airways PJSC that have long been the biggest foreign carriers in India and have, along with Air India Ltd. and Jet Airways India Ltd., dominated the market for offshore travel."



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