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Sunday, 24 December 2017

Iraq plans new Kirkuk-Ceyhan oil pipeline

Iraq plans new Kirkuk-Ceyhan oil pipeline:

"Iraq has invited companies to submit statements of interest in building a new pipeline from the northern city of Kirkuk to Turkey’s Mediterranean port of Ceyhan. The state-run Oil Projects Company said Sunday the 350-kilometer (220-mile) pipeline will carry up to one million barrels a day. It says companies have until Jan. 24 to submit applications for pre-qualification. It did not provide a timeline for the project, which will be offered under a build-own-operate-transfer scheme."



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Qatar Shares to Kick Off 2018 Near Cheapest Level in Eight Years - Bloomberg

Qatar Shares to Kick Off 2018 Near Cheapest Level in Eight Years - Bloomberg:

"After being battered by political turmoil this year, Qatari shares are set to start the next one near their cheapest levels relative to emerging-market peers since early 2010. That’s a change for the nation’s stocks, which traded at a premium for most of the preceding three years. A selloff triggered by a political spat between Qatar and its neighbors sent valuations plummeting. While politics will remain in focus in 2018, analysts and investors say some shares in Doha are now trading at attractive levels."



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Global IPO volume hits 10-year high | ZAWYA MENA Edition

Global IPO volume hits 10-year high | ZAWYA MENA Edition:

"Global IPO volumes in 2017 reached the highest level in a decade, according to the latest Cross-Border IPO Index (as at 4 December 2017) by global law firm Baker McKenzie. The Middle East region also picked up with 300 per cent increase in value of domestic deals and securing the first cross-border listing in the region since 2015. Low market volatility as a result of the relatively benign geopolitical environment and improved market sentiment were behind the increase in global IPO activity, which saw both cross-border and domestic activity grow. In total, 1,694 companies raised $206.6 billion from IPOs, a jump of around a third in both value and volume on 2016."



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Mideast Stocks: Gulf markets narrowly mixed in early trade | ZAWYA MENA Edition

Mideast Stocks: Gulf markets narrowly mixed in early trade | ZAWYA MENA Edition:

"Gulf stock markets were narrowly mixed in quiet, early trade on Sunday, with Saudi Arabian petrochemical firm PetroRabigh 2380.SE extending a sharp gain made at the end of last week.

The Saudi index was almost flat after half an hour as PetroRabigh climbed a further 2.1 percent. On Thursday it had jumped 6.6 percent after Energy Minister Khalid al-Falih said the expanded section of its petrochemical complex would start operations in the first quarter of 2018.

Saudi Printing & Packaging gained 2.5 percent after saying its board had decided to remove Ghassan bin Mohammed Zaatari from the post of chief executive and appoint Fahad Ibrahim al-Mufarraj as managing director pending the appointment of a new CEO. The company did not explain why it made the change. "



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