First new port in the UK for more than 20 years opens this week - FT.com:
"This week, a Dubai-based company will seek to restore some of London’s former glory as the centre of world trade, as the first new port in the UK for more than two decades opens on the river Thames.
London Gateway, a combination of a container terminal a of land large enough to build Europe’s biggest logistics park, is 39km east of the capital on the north bank of the river. It is the result of a £1.5bn investment by DP World, one of the largest port operators.
To the west, the skyscrapers of Canary Wharf and the City loom in the distance but in this part of Essex, the giant cranes dominate the skyline. On Thursday, they will unload the containers from the first ship to call here on a commercial service."
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Sunday, 3 November 2013
▶ Venture Capital: Muslim money & extending Bitcoin influence (E14) - YouTube
▶ Venture Capital: Muslim money & extending Bitcoin influence (E14) - YouTube:
"Britain is seeking money from the Middle East in its ambition to become the first country outside of the Muslim world to offer an Islamic Bond - Katie Pilbeam asks London based Market Strategist Ishaq Siddiqi if this is the way forward for the finance hub. The first ever Bitcoin ATM went live this week in a café in Vancouver, Canada. Does this breakthrough mean that the controversial coin is finally fighting off its critics - Katie asks Moscow based economist Dr William Wilson and Buenos Aires based expert Daniel Bruno for their view on the virtual currency to get a global perspective. Plus the World Bank props up Russia in its annual 'Doing Business' report, but there's still a long way to go, corporate news and the loveable in-house investor Sean Thomas reveals the latest results of his rather unique style of trading on the ever volatile Russian stock market.
"
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"Britain is seeking money from the Middle East in its ambition to become the first country outside of the Muslim world to offer an Islamic Bond - Katie Pilbeam asks London based Market Strategist Ishaq Siddiqi if this is the way forward for the finance hub. The first ever Bitcoin ATM went live this week in a café in Vancouver, Canada. Does this breakthrough mean that the controversial coin is finally fighting off its critics - Katie asks Moscow based economist Dr William Wilson and Buenos Aires based expert Daniel Bruno for their view on the virtual currency to get a global perspective. Plus the World Bank props up Russia in its annual 'Doing Business' report, but there's still a long way to go, corporate news and the loveable in-house investor Sean Thomas reveals the latest results of his rather unique style of trading on the ever volatile Russian stock market.
"
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Britain seeks Qatari gas and funds - Telegraph
Britain seeks Qatari gas and funds - Telegraph:
"Britain will this week attempt to secure new long-term deals to import Qatari gas to the UK and drum up a possible £10bn of investment by the Gulf state in UK infrastructure.
Energy minister Michael Fallon will visit Qatar – which supplies about 15pc of Britain's gas – for meetings with its energy, industry and finance ministers on Monday.
"We are looking for more long-term gas supply contracts with Qatar – they have proved a very reliable partner," Mr Fallon told The Sunday Telegraph. "It's very important we strengthen our relationship with them."
Imports of liquefied natural gas (LNG) – gas cooled to minus 162 degrees for transport by tanker – are crucial to the UK as North Sea reserves dwindle.
"Already over half our gas comes from abroad and by 2030, it'll be three-quarters," Mr Fallon said. LNG accounted for 28pc of the UK's gas imports last year, 98pc of those from Qatar."
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"Britain will this week attempt to secure new long-term deals to import Qatari gas to the UK and drum up a possible £10bn of investment by the Gulf state in UK infrastructure.
Energy minister Michael Fallon will visit Qatar – which supplies about 15pc of Britain's gas – for meetings with its energy, industry and finance ministers on Monday.
"We are looking for more long-term gas supply contracts with Qatar – they have proved a very reliable partner," Mr Fallon told The Sunday Telegraph. "It's very important we strengthen our relationship with them."
Imports of liquefied natural gas (LNG) – gas cooled to minus 162 degrees for transport by tanker – are crucial to the UK as North Sea reserves dwindle.
"Already over half our gas comes from abroad and by 2030, it'll be three-quarters," Mr Fallon said. LNG accounted for 28pc of the UK's gas imports last year, 98pc of those from Qatar."
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MIDEAST STOCKS-Egypt mkt muted ahead of Mursi trial; Saudi up | Reuters
MIDEAST STOCKS-Egypt mkt muted ahead of Mursi trial; Saudi up | Reuters:
"Egypt's benchmark rose slightly in thin trade on Sunday, a day before the trial of deposed Islamist president Mohamed Mursi begins, while other Middle East markets were also lacklustre.
Egypt's index edged up 0.1 percent, taking its gains since the army ousted Mursi from power on July 3 to 24.5 percent.
Amer Group was the most active stock with 9.7 million shares changing hands as it fell 3.5 percent. Four other index stocks traded more than 2 million shares.
"The market is pretty flat - everybody is waiting for Mursi's trial tomorrow," said Mohamed Radwan, director of international sales at Pharos Securities in Cairo."
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"Egypt's benchmark rose slightly in thin trade on Sunday, a day before the trial of deposed Islamist president Mohamed Mursi begins, while other Middle East markets were also lacklustre.
Egypt's index edged up 0.1 percent, taking its gains since the army ousted Mursi from power on July 3 to 24.5 percent.
Amer Group was the most active stock with 9.7 million shares changing hands as it fell 3.5 percent. Four other index stocks traded more than 2 million shares.
"The market is pretty flat - everybody is waiting for Mursi's trial tomorrow," said Mohamed Radwan, director of international sales at Pharos Securities in Cairo."
'via Blog this'
Iran Says To Find Framework To Abolish Reasons For Sanctions Eurasia Review
Iran Says To Find Framework To Abolish Reasons For Sanctions Eurasia Review:
"Iranian Foreign Minister Mohammad Javad Zarif says the Islamic Republic is seeking to quash all pretexts for anti-Iran sanctions in the talks with the six major world powers over Tehran’s nuclear energy program.
“Through dialogue, we try to eliminate any pretext for the sanctions,” Zarif said.
The Iranian foreign minister further noted that Tehran aims to find a framework to abolish reasons for the sanctions, stressing that anti-Iran embargoes only strengthen the resolve of the Iranian nation."
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"Iranian Foreign Minister Mohammad Javad Zarif says the Islamic Republic is seeking to quash all pretexts for anti-Iran sanctions in the talks with the six major world powers over Tehran’s nuclear energy program.
“Through dialogue, we try to eliminate any pretext for the sanctions,” Zarif said.
The Iranian foreign minister further noted that Tehran aims to find a framework to abolish reasons for the sanctions, stressing that anti-Iran embargoes only strengthen the resolve of the Iranian nation."
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UAE business-friendly approach pays dividends | GulfNews.com
UAE business-friendly approach pays dividends | GulfNews.com:
"Most of the GCC states need to streamline their policies to make them business-friendly. This much can be inferred from the recently released Doing Business 2014 report, produced by the World Bank and the International Finance Corporation and in its 11th edition,
The reviewed economies, numbering 189 and up by four compared with the earlier report, are ranked on results achieved in 10 areas. The variables relate to starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.
The report provides quantitative comparisons on business regulations and protection of property rights with regards to small and medium enterprises, considered a key resource for new employment opportunities in many parts of the world."
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"Most of the GCC states need to streamline their policies to make them business-friendly. This much can be inferred from the recently released Doing Business 2014 report, produced by the World Bank and the International Finance Corporation and in its 11th edition,
The reviewed economies, numbering 189 and up by four compared with the earlier report, are ranked on results achieved in 10 areas. The variables relate to starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.
The report provides quantitative comparisons on business regulations and protection of property rights with regards to small and medium enterprises, considered a key resource for new employment opportunities in many parts of the world."
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World’s quest for cheaper oil may end post-2020 | GulfNews.com
World’s quest for cheaper oil may end post-2020 | GulfNews.com:
"The world’s quest for cheaper crude may well end sometime in the next decade with the fast-improving horizontal drilling and hydraulic fracturing technology, popularly known as fracking, leading to global oil markets being flooded with the relatively inexpensive shale oil, say energy experts.
The market glut, they say, would then exert downward pressure on the international oil prices as there would be more crude supply than demand.
As matters stand, only the US and Canada are producing oil and natural gas from shale in commercial quantities. The shale oil and gas has transformed the energy outlook in the US"
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"The world’s quest for cheaper crude may well end sometime in the next decade with the fast-improving horizontal drilling and hydraulic fracturing technology, popularly known as fracking, leading to global oil markets being flooded with the relatively inexpensive shale oil, say energy experts.
The market glut, they say, would then exert downward pressure on the international oil prices as there would be more crude supply than demand.
As matters stand, only the US and Canada are producing oil and natural gas from shale in commercial quantities. The shale oil and gas has transformed the energy outlook in the US"
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Major challenge await GCC's utilities companies | The National
Major challenge await GCC's utilities companies | The National:
"GCC countries will need an extra 290 million gallons of water and 80,000 megawatts of power per day by 2015 to meet demand from an increasing population and new infrastructure projects.
The estimates are from regional utilities companies, and will be among the issues raised during a conference of Middle Eastern government authorities and private sector companies this month.
“As the region explores ways of supplying the high demand for both power and water, private utilities companies in the region are faced with a major challenge – obtaining finance and funds for new projects,” said Richard Menezes, managing director of Utico Middle East."
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"GCC countries will need an extra 290 million gallons of water and 80,000 megawatts of power per day by 2015 to meet demand from an increasing population and new infrastructure projects.
The estimates are from regional utilities companies, and will be among the issues raised during a conference of Middle Eastern government authorities and private sector companies this month.
“As the region explores ways of supplying the high demand for both power and water, private utilities companies in the region are faced with a major challenge – obtaining finance and funds for new projects,” said Richard Menezes, managing director of Utico Middle East."
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Borouge eyes threefold clientele increase with capacity expansion | The National
Borouge eyes threefold clientele increase with capacity expansion | The National:
"The plastics producer Borouge is seeking to increase its customer base by threefold as it prepares to enact a massive capacity expansion at its petrochemicals plant in Abu Dhabi.
The joint venture of Abu Dhabi National Oil Company and Borealis, an Austrian chemical and plastics producer, is in the process of expanding its polymers output to 4.5 million tonnes a day from 2.5 million tonnes currently.
The move comes as listed regional petrochemical giants, such as Saudi Basic Industries Corporation, struggle with stagnant European demand and the revival of polymer producers in North America."
'via Blog this'
"The plastics producer Borouge is seeking to increase its customer base by threefold as it prepares to enact a massive capacity expansion at its petrochemicals plant in Abu Dhabi.
The joint venture of Abu Dhabi National Oil Company and Borealis, an Austrian chemical and plastics producer, is in the process of expanding its polymers output to 4.5 million tonnes a day from 2.5 million tonnes currently.
The move comes as listed regional petrochemical giants, such as Saudi Basic Industries Corporation, struggle with stagnant European demand and the revival of polymer producers in North America."
'via Blog this'
Saudi Gazette - MMG to exploit all legal methods to recoup debts
Saudi Gazette - MMG to exploit all legal methods to recoup debts:
"Saudi building contractor Mohammad Al Mojil Group (MMG) is pursuing around SR1.5 billion ($400 million) in outstanding fees it is owed by its customers and believes that it can recover a “significant percentage” through negotiation, arbitration and other legal claims in the coming years.
The Dammam-based firm said it “continues to take steps to recover money due from customers on completed projects”, which are significant assets that it cannot currently recognize on its balance sheet.
The company said that it is pursuing claims and legal actions for amounts worth $320 million (SR1.2 billion). It also said it is looking to recover a further $80m (SR300 million) in disputed final accounts."
'via Blog this'
"Saudi building contractor Mohammad Al Mojil Group (MMG) is pursuing around SR1.5 billion ($400 million) in outstanding fees it is owed by its customers and believes that it can recover a “significant percentage” through negotiation, arbitration and other legal claims in the coming years.
The Dammam-based firm said it “continues to take steps to recover money due from customers on completed projects”, which are significant assets that it cannot currently recognize on its balance sheet.
The company said that it is pursuing claims and legal actions for amounts worth $320 million (SR1.2 billion). It also said it is looking to recover a further $80m (SR300 million) in disputed final accounts."
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