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Tuesday, 12 July 2016

Abu Dhabi business confidence down 15% in Q1 | GulfNews.com

Abu Dhabi business confidence down 15% in Q1 | GulfNews.com:

"Confidence in Abu Dhabi’s business climate dropped nearly 15 per cent in the first quarter of 2016 compared to the same quarter in 2015, with the general index falling from 61 points to 52 points.

According to the Abu Dhabi Economic Performance Report issued by the emirate’s Department of Economic Development (DED), the index on the expectations for future outlook also fell to 55 points in the first quarter of 2016, down from 64 points the corresponding period last year — a decline of 14 per cent.

The indices were also lower in the first quarter of this year compared to the last quarter of 2015. The general index on confidence in business climate fell around 9 per cent in the first quarter of 2016 compared to fourth quarter of 2015, while the index on future expectations dropped 8 per cent in the same period."



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Qatar Airways Extends Global Ambitions With Latam Investment - Bloomberg

Qatar Airways Extends Global Ambitions With Latam Investment - Bloomberg:

"Qatar Airways is extending its global ambitions with plans to buy a stake in Latam Airlines Group SA, securing a partnership with South America’s biggest carrier as it scouts for opportunities to lock down relationships with other airlines. 
Qatar will buy as much as 10 percent of Santiago, Chile-based Latam for $613 million, the No. 2 Gulf carrier said Tuesday at the Farnborough Air Show. With the agreement, Qatar is making its second investment in a fellow member of the Oneworld alliance after building up a 15.7 percent stake in IAG SA, which is one of Latam’s closest allies. "



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MIDEAST STOCKS-Gulf bourses end higher on oil prices; profit-taking drags Egypt | Reuters

MIDEAST STOCKS-Gulf bourses end higher on oil prices; profit-taking drags Egypt | Reuters:

"Gulf bourses benefited from recovering oil prices to all close higher on Tuesday, although Egypt's exchange stumbled for a second day as investors took profits from a rally inspired by future currency devaluation speculation.

Crude rose from the near-two-month lows hit the previous day: Brent crude was up $1.29 at $47.54 per barrel at 1218 GMT. U.S. West Texas Intermediate crude was up $1.10 at $45.86 a barrel.

The biggest swing came in Qatar, where the index had been trading as much as 0.9 percent down earlier in the day before closing up 0.4 percent at a fresh 11-week high."



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Farnborough Airshow: Brexit storm clouds fail to gather - BBC News

Farnborough Airshow: Brexit storm clouds fail to gather - BBC News:

"Brexit was supposed to cast storm clouds over this week's Farnborough Airshow. Instead, it's been two days of torrential rain that has cast the real shadow over proceedings.
The biennial event is where the world's aerospace and defence (A&D) companies come to talk - and do - business.
And, in an industry where cross-border co-operation is vital, much of that talk was forecast to focus on the dire consequences for British A&D in a post-referendum world."



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Iran Plans to Double Crude Exports - Bloomberg

Iran Plans to Double Crude Exports - Bloomberg:




"Oil is trading near a two-month low after Iran and Libya flagged export increases. Bloomberg's Anthony DiPaola reports on "Bloomberg Markets Middle East." (Source: Bloomberg)"



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MIDEAST STOCKS-Egypt sees profit-taking after devaluation rally | Reuters

MIDEAST STOCKS-Egypt sees profit-taking after devaluation rally | Reuters:

"Egypt's stock market dipped for a second day in early trading as investors took profits from a rally inspired by future currency devaluation speculation, while Saudi Arabia's bourse rose for the third straight session.

The main measure in Egypt fell 1.5 percent in early trade, having ended Monday 0.2 percent lower.

The index had surged 7.7 percent in the two prior sessions straddling the Eid al-Fitr holiday, following comments from the central bank governor that the Egyptian pound should be a market-based currency where demand and supply set the price."



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Oil Outlook: Where Are Oil Prices Heading? - Bloomberg

Oil Outlook: Where Are Oil Prices Heading? - Bloomberg:




"Morten Frisch, senior partner at Morten Frisch Consulting, discusses the buildup in oil rigs, energy consumption in Asia and his outlook for liquid national gas. He speaks to Yousef Gamal El-Din and Angie Lau on "Bloomberg Markets Middle East." (Source: Bloomberg)"



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