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Friday, 5 August 2016

Bankers can finally look forward to merger activity | The National

Bankers can finally look forward to merger activity | The National:

"The GCC’s investment bankers must be a stressed lot – too much work and such little reward.

The fee-based investment banking business has four key components – syndicated loans, equity capital markets, debt capital markets and mergers and acquisitions (M&A). While in other markets we can witness activity across these four components, in the GCC investment banking advisers depend on syndicated loans for their survival – 50 per cent of total investment banking fees on average.

Equities is dull thanks to poor performing capital markets and the related dull initial public offering environment."

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Oil pares biggest two-day rally in a month |

Oil pares biggest two-day rally in a month |

"Oil declined after the biggest two-day increase in more than a month as prices fluctuated following a fall into a bear market this week.

Futures dropped as much as 1.2 per cent in New York after rising 6.1 per cent the previous two sessions, rebounding from the lowest closing price since April. Baker Hughes Inc. reports drill rig data Friday, which will signal if US producers are continuing to boost activity. Government figures Wednesday showed gasoline inventories fell, while crude stockpiles unexpectedly rose. Both are at the highest seasonal level in at least two decades.

Oil is fluctuating after tumbling more than 20 per cent into a bear market and closing below $40 a barrel on Tuesday for the first time in almost four months. Citigroup Inc. and Bank of America Merrill Lynch predicted the slump would be short-lived, while Societe Generale SA said the price correction would be limited due to a better balance between supply and demand.


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Four-month hangover from Singapore fuel oil party finally ends | Reuters

Four-month hangover from Singapore fuel oil party finally ends | Reuters:

"Singapore's long hangover from a near-record fuel oil trading binge in March is ending as tonnage traded that month and held offshore moves into landed tanks, signalling a tighter market in the world's biggest trading hub for the shipping fuel.

The excess floating storage taken up in March is now virtually empty. With fuel oil supplies coming into Asia expected to remain low because of inventory declines in Europe STK-FO-ARA and strong seasonal demand from the Middle East, onshore stocks are also expected to fall, while prompt values for the bottom-of-the-barrel product improve.

"We are poised for some tightening of supplies in the East and that's why we're seeing some recent strength across the near-term time spreads," says Nevyn Nah, oil products analyst at Energy Aspects."

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