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Monday, 3 October 2016

Tory conference – Brexit, the economy | FT World - YouTube

Tory conference – Brexit, the economy | FT World - YouTube: ""



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Basra: Hopes of Iraq’s oil capital going up in flames — FT.com

Basra: Hopes of Iraq’s oil capital going up in flames — FT.com:

"When Munir started out as an oil contractor in Basra in 2007, Iraq was under occupation and suffering a brutal insurgency. Even that, he laments, was better than what he has to deal with now. “Back then if we had a problem, we went to the Americans to fix it,” he says. “No one dared cause trouble.”

Munir is one of dozens of frustrated businessmen in the southern city who are waiting to be paid back by a government dealing with a crippling debt crisis. To make matters worse, reports of robberies, kidnappings and assault have risen as the money used to pacify local militias and tribes dries up.

“How can a foreign investor protect himself, when I, a local, can’t protect myself?” says Munir, who asked to change his name for safety reasons.

"



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Saudis Greet Austerity With Satire Invoking Mr. Bean, Simpsons - Bloomberg

Saudis Greet Austerity With Satire Invoking Mr. Bean, Simpsons - Bloomberg:

"If one man became the unwitting face of Saudi Arabian austerity last week, it was retired state television presenter Sulaiman Al-Eidi.
With hands clasped and a gentle smile, the avuncular Al-Eidi used to relay the royal orders through which most major policy changes become public. So when Saudi satirists were looking for a way to respond to the most recent cost cutting measure—a Sept. 26 decision to cancel bonuses paid to state employees for a year—he was an obvious target.
“In the name of God, the most gracious, most merciful: A royal order,” Al-Eidi says at the start of a 10-second video that became popular on Twitter after the government’s announcement that also reduced ministers’ salaries by 20 percent. The clip then cuts from the studio to a screaming Mr. Bean as the bumbling British sitcom creation is scared out of his wits by a horror film. “The state of the citizen when he hears a royal order from now on,” explains the caption."



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MIDEAST STOCKS-Saudi swings widely, Gulf weak; IMF hopes boost Egypt | Reuters

MIDEAST STOCKS-Saudi swings widely, Gulf weak; IMF hopes boost Egypt | Reuters:

"Gulf stock markets were weak on Monday as Saudi Arabia swung widely, hit by plans for reforms to the telecommunications industry, but Egypt rose sharply on hopes that its International Monetary Fund loan would be finalised soon.

The Saudi index fell more than 2 percent at one stage as Saudi Telecom, the country's top operator, tumbled as much as 8.5 percent after the government said it would provide telecommunications firms with "unified licences" allowing them to offer a full range of services.

Analysts said this could mean more competition for Saudi Telecom. The stock closed 4.9 percent lower and the Saudi index finished down 0.6 percent at 5,416 points, its lowest close since March 2011, in active trade."



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Iran Energy Insight Vol - 2, October 2016 Issue @EnergPioneers

Iran Energy Insight Vol - 2, October 2016 Issue  <<Click for link

The principle purpose of our monthly Iran Energy Insight is to update our readers on recent developments in various parts of Iran’s energy sector.

With sanctions being lifting and the country aiming at reestablishing itself as an important recipient of international investment and technology, Iran’s energy sector is poised to evolve rapidly, marking major shifts in the global energy markets.  Today Iran’s upstream and downstream energy sectors face exciting new horizons: domestic energy market reform, intense competitive pressures for increasing efficiency and productivity and regaining its position in international oil and gas markets.Our aim is to reflect on opportunities and challenges resulting from this changing energy landscape in order to assist domestic and international energy players to have a better and realistic understanding of Iran’s energy market.
  
Energy Pioneers’ Iran Energy Insight covers the trends in Iran’s energy sector and provides analytical briefs addressing economic and commercial issues faced by various segments of the energy market.

Shanghai Exchange poised to take Pakistan bourse stake — FT.com

Shanghai Exchange poised to take Pakistan bourse stake — FT.com:

"The Shanghai Stock Exchange is in pole position to buy a stake in Pakistan’s bourse, in a move that would mark the Chinese exchange’s first overseas investment and bolster financial ties with one of China’s closest partners.

China’s strategic links with Pakistan have intensified under President Xi Jinping, whose One Belt, One Road policy seeks to project Chinese influence abroad while alleviating crippling domestic industrial overcapacity. But China’s ambitious plans for investments in Pakistan, particularly in its troubled Baluchistan region, remain vulnerable to political instability and ethnic tensions in its southern neighbour.

Yasin Lakhani, a former chairman of the Karachi bourse who now serves on its board, said the Shanghai Stock Exchange was among three shortlisted candidates for the investment. The Securities and Exchange Commission of Pakistan [SECP] has set a November deadline for the investment."



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RPT-OPEC oil output hits record on Iraq, Libya boost - Reuters survey | Reuters

RPT-OPEC oil output hits record on Iraq, Libya boost - Reuters survey | Reuters:

"OPEC's oil output is likely to reach its highest in recent history in September, a Reuters survey found on Friday, as Iraq boosted northern exports and Libya reopened some of its main oil terminals.

The increase comes despite lower output in top exporter Saudi Arabia and this week's agreement by the Organization of the Petroleum Exporting Countries in Algeria to limit supply to support prices, its first such decision since 2008.

Supply from OPEC has risen to 33.60 million barrels per day (bpd) in September from a revised 33.53 million bpd in August, according to the survey based on shipping data and information from industry sources."



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MIDEAST STOCKS-Egypt surges on hope for good news on IMF loan | Reuters

MIDEAST STOCKS-Egypt surges on hope for good news on IMF loan | Reuters:

"Egypt's stock market rose sharply in early trade on Monday on hopes that an international financing package for the country would be finalised soon after this week's annual meetings of the International Monetary Fund and World Bank Group.

The Egyptian stock index climbed 2.8 percent in a broad rally, with investment bank EFG Hermes rising 4.2 percent.

Egypt has reached a staff-level agreement for a $12 billion loan programme from the IMF and must secure around $6 billion in bilateral financing to obtain final approval for the programme. It has been in talks with China for $2 billion, while Saudi Arabia and other rich Gulf states may also provide money."



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MIDEAST STOCKS-Saudi Telecom drags down Riyadh, rest of Gulf weak | Reuters

MIDEAST STOCKS-Saudi Telecom drags down Riyadh, rest of Gulf weak | Reuters:

"Saudi Telecom dragged Riyadh's market down further early on Monday while other Gulf bourses, many of them reopening after closing on Sunday for the Islamic New Year holidays, were also weak.

The Saudi index, which had tumbled 3.1 percent on Sunday to its lowest close since March 2011 because of concern over the impact of government austerity measures, dropped a further 1.9 percent in the first 45 minutes.

Saudi Telecom, the country's top operator, tumbled 6.7 percent after the government said it would provide telecommunications firms with "unified licences" allowing them to offer a full range of services."



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