Qatar Signs Aid Deal Worth $1.25 Billion for Morocco - NYTimes.com:
"Qatar and Morocco have signed an aid deal worth $1.25 billion, part of a five-year package of financial assistance extended by wealthy Gulf states to the North African kingdom to help it weather 'Arab Spring' protests.
Four Gulf states - Qatar, Saudi Arabia, Kuwait and the United Arab Emirates - agreed in 2012 to provide aid worth a total $5 billion to Morocco in the period 2012-2017 to build up its infrastructure, strengthen its economy and foster tourism.
Each of the four countries has committed $1.25 billion to Morocco for the whole five year period."
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Saturday, 28 December 2013
UAE’s strong fiscal position to support growth | GulfNews.com
UAE’s strong fiscal position to support growth | GulfNews.com:
"The UAE’s hydrocarbon reserves are very large, both in absolute and per capita terms. According to the 2013 BP Statistical Review of World Energy, the UAE’s proven oil and gas reserves approximated 138 billion barrels of oil equivalent in 2012, which would last about 88 years at the current rate of production, slightly lower than Kuwait and Qatar. Per capita, the UAE had the fourth highest level of oil and gas reserves globally, at about 15,000 barrels of oil equivalent.
Credit rating agency Moody’s expect Brent benchmark oil prices remaining firm at an average of about $109/barrel (Dh400) in 2013 to $105/barrel in 2015.Even if the oil prices were to fall due to a supply glut, it would be limited by the unconventional oil producers’ high breakeven oil price, which is approximately $60-$70 per barrel for the US shale oil fields.
The UAE’s fiscal breakeven oil price is coming down, a unique feature among GCC countries. Because of extraordinary fiscal support programmes in 2009-2011, the UAE’s fiscal breakeven oil price rose sharply."
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"The UAE’s hydrocarbon reserves are very large, both in absolute and per capita terms. According to the 2013 BP Statistical Review of World Energy, the UAE’s proven oil and gas reserves approximated 138 billion barrels of oil equivalent in 2012, which would last about 88 years at the current rate of production, slightly lower than Kuwait and Qatar. Per capita, the UAE had the fourth highest level of oil and gas reserves globally, at about 15,000 barrels of oil equivalent.
Credit rating agency Moody’s expect Brent benchmark oil prices remaining firm at an average of about $109/barrel (Dh400) in 2013 to $105/barrel in 2015.Even if the oil prices were to fall due to a supply glut, it would be limited by the unconventional oil producers’ high breakeven oil price, which is approximately $60-$70 per barrel for the US shale oil fields.
The UAE’s fiscal breakeven oil price is coming down, a unique feature among GCC countries. Because of extraordinary fiscal support programmes in 2009-2011, the UAE’s fiscal breakeven oil price rose sharply."
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The Ukraine-Russia Deal - Analysis Eurasia Review #євромайдан #euromaidan
The Ukraine-Russia Deal - Analysis Eurasia Review:
"
As the price to deter a westward move of Ukraine, Russia has made an offer that the Ukrainian president has found impossible to turn down, if he ever contemplated seriously tying his country to the EU. This is generally hailed as a master coup by President Putin and a great relief for President Yanukovych. In fact, this coup is likely to end in tears for both countries.
For many years now, Ukraine has been on a lifeline from the IMF. Severe policy mismanagement has left the country teetering on the brink of default. IMF programmes have been on and off, as commitments were not kept. Most recently, Ukraine has been negotiating a new loan but never closed the deal because it was unwilling to accept the associated policy conditions. The Russian loan means that Ukraine does not have to agree to an IMF programme, at least for the time being."
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UKRAINE'S VIKTOR YANUKOVYCH |
For many years now, Ukraine has been on a lifeline from the IMF. Severe policy mismanagement has left the country teetering on the brink of default. IMF programmes have been on and off, as commitments were not kept. Most recently, Ukraine has been negotiating a new loan but never closed the deal because it was unwilling to accept the associated policy conditions. The Russian loan means that Ukraine does not have to agree to an IMF programme, at least for the time being."
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Israel and Egypt to enter a gas deal
Israel and Egypt to enter a gas deal:
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Israel and Egypt are discussing a natural gas deal. An energy collaboration is not new between the two
countries except that this time, the natural gas flow will be in the opposite direction, from Israel to Egypt. Historically, Israel has been reliant on Egyptian gas to satisfy 40% of its domestic natural gas needs. An agreement was signed in 2005 stipulating that Egypt would supply Israel with 7 bcm of Egyptian natural gas every year and for a 20 year period. The deal was an economic annex to the 1979 peace treaty between the two countries —the first between Israel and an Arab state. Egypt's state-run gas company terminated this controversial natural gas agreement with Israel in 2012 in the aftermath of the uprising in Egypt that put an end to the Mubarak regime. The pipeline that carried natural gas from Egypt to Israel and Jordan across the Sinai desert was bombed at least 15 times, effectively cutting off supply at normal levels ever since the start of the revolution in Egypt. The disruptions forced Israel to import fuel products with a very high price tag prompting a severe increase in Israel’s energy bill and as a result a jump in electricity prices."
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countries except that this time, the natural gas flow will be in the opposite direction, from Israel to Egypt. Historically, Israel has been reliant on Egyptian gas to satisfy 40% of its domestic natural gas needs. An agreement was signed in 2005 stipulating that Egypt would supply Israel with 7 bcm of Egyptian natural gas every year and for a 20 year period. The deal was an economic annex to the 1979 peace treaty between the two countries —the first between Israel and an Arab state. Egypt's state-run gas company terminated this controversial natural gas agreement with Israel in 2012 in the aftermath of the uprising in Egypt that put an end to the Mubarak regime. The pipeline that carried natural gas from Egypt to Israel and Jordan across the Sinai desert was bombed at least 15 times, effectively cutting off supply at normal levels ever since the start of the revolution in Egypt. The disruptions forced Israel to import fuel products with a very high price tag prompting a severe increase in Israel’s energy bill and as a result a jump in electricity prices."
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2014: bonds - YouTube
2014: bonds - YouTube:
"The Federal Reserve will begin tapering its bond purchases in 2014, but has also guided the market that the year will see no rise in target interest rates. John Authers analyses the outlook for capital markets as the US exits the greatest monetary experiment in history.
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"The Federal Reserve will begin tapering its bond purchases in 2014, but has also guided the market that the year will see no rise in target interest rates. John Authers analyses the outlook for capital markets as the US exits the greatest monetary experiment in history.
"
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Banking on longevity - YouTube
Banking on longevity - YouTube:
"Our correspondents discuss the extraordinary clout of the Federal Reserve, a century after its founding
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"Our correspondents discuss the extraordinary clout of the Federal Reserve, a century after its founding
"
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Etihad builds global airline through investments | GulfNews.com
Etihad builds global airline through investments | GulfNews.com:
"Abu Dhabi’s Etihad Airways PJSC is attempting a feat that many airlines have tried and none has managed to achieve: building a global network through investments in foreign carriers.
Etihad has snapped up stakes in seven airlines from Australia to Ireland over its 10-year existence. It is currently assessing whether to invest in Italy’s troubled Alitalia SpA, according to people familiar with the talks. Etihad’s goal is to quickly boost traffic and cut costs on its own network without buying hundreds of planes and expanding globally, company officials say.
European airlines including British Airways and Scandinavia’s SAS AB tried similar expansions in the 1990s but later exited their unsuccessful investments. Swissair gobbled up European airlines, collapsed under the weight of its deals and was liquidated in 2001. Last year, Singapore Airlines sold its 49 per cent stake in Britain’s Virgin Atlantic Airways at a loss after a 14-year partnership."
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"Abu Dhabi’s Etihad Airways PJSC is attempting a feat that many airlines have tried and none has managed to achieve: building a global network through investments in foreign carriers.
Etihad has snapped up stakes in seven airlines from Australia to Ireland over its 10-year existence. It is currently assessing whether to invest in Italy’s troubled Alitalia SpA, according to people familiar with the talks. Etihad’s goal is to quickly boost traffic and cut costs on its own network without buying hundreds of planes and expanding globally, company officials say.
European airlines including British Airways and Scandinavia’s SAS AB tried similar expansions in the 1990s but later exited their unsuccessful investments. Swissair gobbled up European airlines, collapsed under the weight of its deals and was liquidated in 2001. Last year, Singapore Airlines sold its 49 per cent stake in Britain’s Virgin Atlantic Airways at a loss after a 14-year partnership."
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GCC can connect Africa with rest of the world | GulfNews.com
GCC can connect Africa with rest of the world | GulfNews.com:
"Swift changes are taking place in relationships between countries which requires them to restructure their economic, political and security alliances. These, in turn, have led to significant changes in the global balance of power and created a new dynamic, reflected in the structures within recently created blocs.
The economy occupies the core of this shared interests as future conflicts will be economic in nature and success in this field will determine gains in others, including the political and military. Since the UAE and GCC are emerging markets with a greater role to play in global economy, they are required to work on two parallel approaches to occupy an advantageous position to defend their interests.
The first lies in enhancing Gulf-wide integration and completion of a common market, while the second requires a restructuring of relations to better suit new global power equations."
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"Swift changes are taking place in relationships between countries which requires them to restructure their economic, political and security alliances. These, in turn, have led to significant changes in the global balance of power and created a new dynamic, reflected in the structures within recently created blocs.
The economy occupies the core of this shared interests as future conflicts will be economic in nature and success in this field will determine gains in others, including the political and military. Since the UAE and GCC are emerging markets with a greater role to play in global economy, they are required to work on two parallel approaches to occupy an advantageous position to defend their interests.
The first lies in enhancing Gulf-wide integration and completion of a common market, while the second requires a restructuring of relations to better suit new global power equations."
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