QSE’s main index closes at 9,886.86 points - The Peninsula Qatar:
Qatar Stock Exchange (QSE) benchmark index lost 94.36 points, 0.95 percent, last week when the bourse closed yesterday afternoon at 9,886.86 points.
Trading value during last week decreased by 16.63 percent to reach QR1.01bn compared to QR1.21bn.
Trading volume decreased by 7.04 percent to reach 38.18 million shares, as against 41.07 million shares, while the number of transactions fell by 1.29 percent, to reach 18,470 transactions as compared to 18,711 transactions, reports QNA.
Friday 10 August 2018
Russia not expected to stand up for tanking rouble amid sanctions - The Peninsula Qatar
Russia not expected to stand up for tanking rouble amid sanctions - The Peninsula Qatar:
A threat of more U.S. sanctions has sent the rouble tumbling to its weakest since mid-2016 but authorities are not expected to leap the currency's defence after weathering a similar storm in April, analysts said.
The rouble crashed to 67.67 versus the dollar on Friday , losing more than 6 percent of its value in just one week, as the United States said it would impose fresh sanctions against Moscow.
The rouble's slide was akin to its drop in April when, also battered by sanctions from Washington, it lost 12 percent in just a few days.
A threat of more U.S. sanctions has sent the rouble tumbling to its weakest since mid-2016 but authorities are not expected to leap the currency's defence after weathering a similar storm in April, analysts said.
The rouble crashed to 67.67 versus the dollar on Friday , losing more than 6 percent of its value in just one week, as the United States said it would impose fresh sanctions against Moscow.
The rouble's slide was akin to its drop in April when, also battered by sanctions from Washington, it lost 12 percent in just a few days.
Curbs on banks would be an act of economic war, Russia warns US
Curbs on banks would be an act of economic war, Russia warns US:
Russia warned the United States yesterday it would regard any US move to curb the activities of its banks as a “declaration of economic war” and would retaliate, as new sanctions took their toll on the rouble and US lawmakers threatened more.
The warning, from Prime Minister Dmitry Medvedev, reflects Russian fears over the impact of new restrictions on its economy and assets, including the rouble which has lost nearly 6% of its value this week on sanctions jitters.
Economists expect the Russian economy to grow by 1.8% this year.
Russia warned the United States yesterday it would regard any US move to curb the activities of its banks as a “declaration of economic war” and would retaliate, as new sanctions took their toll on the rouble and US lawmakers threatened more.
The warning, from Prime Minister Dmitry Medvedev, reflects Russian fears over the impact of new restrictions on its economy and assets, including the rouble which has lost nearly 6% of its value this week on sanctions jitters.
Economists expect the Russian economy to grow by 1.8% this year.
Crude Posts Sixth Weekly Drop as Trade War Threatens Demand - Bloomberg
Crude Posts Sixth Weekly Drop as Trade War Threatens Demand - Bloomberg:
Crude posted the longest stretch of weekly declines since 2015 as international trade tensions threatened energy demand in the face of flourishing oil production by the world’s biggest suppliers.
Futures advanced 1.2 percent in New York on Friday, paring a sixth straight weekly loss. The U.S. and China are threatening to erect tariff walls against almost half a trillion dollars in goods collectively, raising fears about weakening economic growth.
“The trade war -- I don’t know where it’s going to end,” said Tariq Zahir, a commodity fund manager at Tyche Capital Advisors LLC. “That definitely can have an impact, at least on demand.”
Crude posted the longest stretch of weekly declines since 2015 as international trade tensions threatened energy demand in the face of flourishing oil production by the world’s biggest suppliers.
Futures advanced 1.2 percent in New York on Friday, paring a sixth straight weekly loss. The U.S. and China are threatening to erect tariff walls against almost half a trillion dollars in goods collectively, raising fears about weakening economic growth.
“The trade war -- I don’t know where it’s going to end,” said Tariq Zahir, a commodity fund manager at Tyche Capital Advisors LLC. “That definitely can have an impact, at least on demand.”
BRIEF-Qatar Investment Authority Reports 5.07 Percent Passive Stake In Credit Suisse Group AG | Reuters
BRIEF-Qatar Investment Authority Reports 5.07 Percent Passive Stake In Credit Suisse Group AG | Reuters:
* QATAR INVESTMENT AUTHORITY REPORTS 5.07 PERCENT PASSIVE STAKE IN CREDIT SUISSE GROUP AG AS OF AUGUST 06, 2018 - SEC FILING Source text: (bit.ly/2vXoD6j)
* QATAR INVESTMENT AUTHORITY REPORTS 5.07 PERCENT PASSIVE STAKE IN CREDIT SUISSE GROUP AG AS OF AUGUST 06, 2018 - SEC FILING Source text: (bit.ly/2vXoD6j)
A Canadian tweet in a Saudi king's court crosses a red line | Reuters
A Canadian tweet in a Saudi king's court crosses a red line | Reuters:
For years, Canadian pressure on human rights in Saudi Arabia had elicited no more than a standard rejection. But all that changed last week, when a Canadian complaint was translated into Arabic and set off a diplomatic row.
When Riyadh responded to a call from Canadian Foreign Minister Chrystia Freeland to release civil society activists with an abrupt severing of diplomatic and trade ties, Canadian officials were left scrambling to understand what had happened.
What Ottawa did not anticipate was that in the eyes of the Saudis they had crossed a red line.
For years, Canadian pressure on human rights in Saudi Arabia had elicited no more than a standard rejection. But all that changed last week, when a Canadian complaint was translated into Arabic and set off a diplomatic row.
When Riyadh responded to a call from Canadian Foreign Minister Chrystia Freeland to release civil society activists with an abrupt severing of diplomatic and trade ties, Canadian officials were left scrambling to understand what had happened.
What Ottawa did not anticipate was that in the eyes of the Saudis they had crossed a red line.
Slowing global economic momentum holds oil prices in check: Kemp | Reuters
Slowing global economic momentum holds oil prices in check: Kemp | Reuters:
Oil prices have stalled over the last two months as the prospect of tough sanctions on Iran’s exports from November is offset by concerns about a slowdown in global economic growth later in 2018 and 2019.
Brent futures prices for crude delivered in 2019 have been flat since late May, after rising strongly since February, with the calendar strip steadying around $71-73 per barrel.
The U.S. government estimates Iran’s oil exports will be cut by between 0.7 and 1.0 million barrels per day from November as a result of sanctions (“U.S. forecasts 50 percent cut in Iran oil sales”, Bloomberg, Aug. 10).
Oil prices have stalled over the last two months as the prospect of tough sanctions on Iran’s exports from November is offset by concerns about a slowdown in global economic growth later in 2018 and 2019.
Brent futures prices for crude delivered in 2019 have been flat since late May, after rising strongly since February, with the calendar strip steadying around $71-73 per barrel.
The U.S. government estimates Iran’s oil exports will be cut by between 0.7 and 1.0 million barrels per day from November as a result of sanctions (“U.S. forecasts 50 percent cut in Iran oil sales”, Bloomberg, Aug. 10).
Emirates expects single-digit U.S. capacity rise in 2018: executive | Reuters
Emirates expects single-digit U.S. capacity rise in 2018: executive | Reuters:
Emirates airline [EMIRA.UL] expects a single-digit percentage increase in its U.S. capacity in 2018, a company executive said on Friday, as sales rebound after travel restrictions imposed by the Trump administration weakened demand from the Middle East early last year.
Matt Schmid, senior vice president, Emirates North America, said by phone from Toronto that travel demand to and from the United States is back at levels from before January 2017.
Emirates has already increased the number of flights on some U.S. routes it had reduced in spring 2017 after U.S. government travel restrictions weakened demand.
Emirates airline [EMIRA.UL] expects a single-digit percentage increase in its U.S. capacity in 2018, a company executive said on Friday, as sales rebound after travel restrictions imposed by the Trump administration weakened demand from the Middle East early last year.
Matt Schmid, senior vice president, Emirates North America, said by phone from Toronto that travel demand to and from the United States is back at levels from before January 2017.
Emirates has already increased the number of flights on some U.S. routes it had reduced in spring 2017 after U.S. government travel restrictions weakened demand.
UAE to build oil pipeline between Eritrea and Ethiopia: Fana Broadcasting | Reuters
UAE to build oil pipeline between Eritrea and Ethiopia: Fana Broadcasting | Reuters:
The United Arab Emirates will build an oil pipeline connecting Eritrea’s port city of Assab with Ethiopia’s capital Addis Ababa, an Ethiopian state-affiliated broadcaster said on Friday.
Fana Broadcasting said the information was revealed during a meeting in Addis Ababa between Ethiopia Prime Minister Abiy Ahmed and Reem Al Hashimy, the UAE’s state minister for international cooperation.
Fana did not provide further details.
The United Arab Emirates will build an oil pipeline connecting Eritrea’s port city of Assab with Ethiopia’s capital Addis Ababa, an Ethiopian state-affiliated broadcaster said on Friday.
Fana Broadcasting said the information was revealed during a meeting in Addis Ababa between Ethiopia Prime Minister Abiy Ahmed and Reem Al Hashimy, the UAE’s state minister for international cooperation.
Fana did not provide further details.
IEA says calm in oil markets could be short-lived | Reuters
IEA says calm in oil markets could be short-lived | Reuters:
Oil markets have entered a brief period of calm but a storm might be looming later this year when new U.S. sanctions are poised to slash supplies of Iranian oil, the International Energy Agency said on Friday.
“The recent cooling down of the market, with short-term supply tensions easing, currently lower prices, and lower demand growth might not last,” the IEA, which oversees the energy policies of industrialized nations, said in a monthly report.
Oil prices have rallied close to $80 per barrel, their highest since 2014, on concerns about supply shortages but cooled in recent weeks as Libya regained some lost production and Washington signaled it could give Asian buyers of Iranian oil some exemptions from sanctions for next year.
Oil markets have entered a brief period of calm but a storm might be looming later this year when new U.S. sanctions are poised to slash supplies of Iranian oil, the International Energy Agency said on Friday.
“The recent cooling down of the market, with short-term supply tensions easing, currently lower prices, and lower demand growth might not last,” the IEA, which oversees the energy policies of industrialized nations, said in a monthly report.
Oil prices have rallied close to $80 per barrel, their highest since 2014, on concerns about supply shortages but cooled in recent weeks as Libya regained some lost production and Washington signaled it could give Asian buyers of Iranian oil some exemptions from sanctions for next year.
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