Ukraine-related Sanctions; Publication of Executive Order 13662 Sectoral Sanctions Identifications List:
"7/16/2014
Today, OFAC is introducing the Sectoral Sanctions Identifications List to identify persons operating in sectors of the Russian economy identified by the Secretary of the Treasury pursuant to Executive Order 13662. Directives found within the list describe prohibitions on dealings with the persons identified.
Please see the following frequently asked questions for more information on sectoral sanctions."
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Wednesday 16 July 2014
BBC News - #US widens sanctions against #Russia | #Ukraine
BBC News - US widens sanctions against Russia:
"The US has increased sanctions against Russia over Ukraine, targeting major banks, defence and energy firms.
Among those on the list are Gazprombank and Rosneft as well as senior officials in Russia and the self-declared rebel entities in eastern Ukraine.
The US has steadily escalated its sanctions against Russia over what it says is Moscow's backing of the rebels - a claim denied by the Kremlin."
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"The US has increased sanctions against Russia over Ukraine, targeting major banks, defence and energy firms.
Among those on the list are Gazprombank and Rosneft as well as senior officials in Russia and the self-declared rebel entities in eastern Ukraine.
The US has steadily escalated its sanctions against Russia over what it says is Moscow's backing of the rebels - a claim denied by the Kremlin."
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MIDEAST STOCKS-Dubai continues leading region; Q2 earnings optimism aids Qatar | News by Country | Reuters
MIDEAST STOCKS-Dubai continues leading region; Q2 earnings optimism aids Qatar | News by Country | Reuters:
"Dubai's bourse continued to lead the region up on Wednesday, even though builder Arabtec slowed its advance, while Qatar Gas Transport Co (Nakilat) jumped on strong second-quarter results.
Shares in Arabtec, which had surged 13.6 percent on Tuesday, gained 1.9 percent; trading volume fell by a quarter but was still extremely high and again made Arabtec Dubai's most active stock. The Dubai index also added 1.9 percent.
Arabtec's leap on Tuesday followed a board meeting at Abu Dhabi state fund Aabar Investments, which is a big shareholder; investors have been hoping it could raise its stake in Arabtec from the current 18.94 percent, probably by buying part of the 28.85 percent stake held by former chief executive Hasan Ismaik."
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"Dubai's bourse continued to lead the region up on Wednesday, even though builder Arabtec slowed its advance, while Qatar Gas Transport Co (Nakilat) jumped on strong second-quarter results.
Shares in Arabtec, which had surged 13.6 percent on Tuesday, gained 1.9 percent; trading volume fell by a quarter but was still extremely high and again made Arabtec Dubai's most active stock. The Dubai index also added 1.9 percent.
Arabtec's leap on Tuesday followed a board meeting at Abu Dhabi state fund Aabar Investments, which is a big shareholder; investors have been hoping it could raise its stake in Arabtec from the current 18.94 percent, probably by buying part of the 28.85 percent stake held by former chief executive Hasan Ismaik."
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Looking For The Next Oil Boom? Follow The Tech - Analysis | Eurasia Review
Looking For The Next Oil Boom? Follow The Tech - Analysis | Eurasia Review:
"Much larger than Eagle Ford and once thought to have reached peak production, new technology has brought us full circle back to the Permian Basin in Texas and New Mexico, where the recent shift to horizontal well drilling has rendered this play the unconventional ground zero.
Determining where the next real oil boom will be depends largely on following the technology, and while the Permian Basin has been slower than others to switch from vertical well drilling to horizontal drilling, horizontal has now outpaced vertical, and investors are lining up to get in on the game.
Until about 12 years ago, virtually all wells in the Permian were vertical. As of last fall, however, horizontal and directional rig counts—meaning, non-vertical drilling rigs—have now begun to exceed vertical, according to RBN Energy."
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"Much larger than Eagle Ford and once thought to have reached peak production, new technology has brought us full circle back to the Permian Basin in Texas and New Mexico, where the recent shift to horizontal well drilling has rendered this play the unconventional ground zero.
Determining where the next real oil boom will be depends largely on following the technology, and while the Permian Basin has been slower than others to switch from vertical well drilling to horizontal drilling, horizontal has now outpaced vertical, and investors are lining up to get in on the game.
Until about 12 years ago, virtually all wells in the Permian were vertical. As of last fall, however, horizontal and directional rig counts—meaning, non-vertical drilling rigs—have now begun to exceed vertical, according to RBN Energy."
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Abu Dhabi's Etihad Airways lands in Rome with bigger target in sights | The National
Abu Dhabi's Etihad Airways lands in Rome with bigger target in sights | The National:
"Etihad Airways landed its first flight in Rome yesterday morning, but its plans for Italy include a capital infusion of another sort.
The Abu Dhabi airline used an Airbus A330 for the six-and-a-half hour flight. Etihad flight EY83 touched down at 7.10am Rome time under sunny skies, and a ribbon-cutting celebration took place at the airport.
From Etihad, Khaled Ghaith Al Mehairbi, senior vice president of governmental and aero-political affairs, and Hassan Al Hammadi, senior vice president of executive affairs, were present."
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"Etihad Airways landed its first flight in Rome yesterday morning, but its plans for Italy include a capital infusion of another sort.
The Abu Dhabi airline used an Airbus A330 for the six-and-a-half hour flight. Etihad flight EY83 touched down at 7.10am Rome time under sunny skies, and a ribbon-cutting celebration took place at the airport.
From Etihad, Khaled Ghaith Al Mehairbi, senior vice president of governmental and aero-political affairs, and Hassan Al Hammadi, senior vice president of executive affairs, were present."
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DP World signs $3b loan deal, say sources | GulfNews.com
DP World signs $3b loan deal, say sources | GulfNews.com:
"DP World, one of the world’s largest port operators, has signed a $3 billion loan deal, becoming the latest Dubai entity to take advantage of buoyant funding conditions to improve terms on its debt.
The new five-year facility is split between a $2.39 billion conventional loan and a $610 million sharia-compliant tranche, according to two sources aware of the matter, who spoke on condition of anonymity as the information isn’t public.
A spokeswoman for DP World referred Reuters to an April 24 statement, in which the company said it undertakes a regular annual review of its banking facilities as part of active financial management. She declined to comment further."
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"DP World, one of the world’s largest port operators, has signed a $3 billion loan deal, becoming the latest Dubai entity to take advantage of buoyant funding conditions to improve terms on its debt.
The new five-year facility is split between a $2.39 billion conventional loan and a $610 million sharia-compliant tranche, according to two sources aware of the matter, who spoke on condition of anonymity as the information isn’t public.
A spokeswoman for DP World referred Reuters to an April 24 statement, in which the company said it undertakes a regular annual review of its banking facilities as part of active financial management. She declined to comment further."
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Iran oil tie-ups bound to be a gamechanger | GulfNews.com
Iran oil tie-ups bound to be a gamechanger | GulfNews.com:
"With Western markets gearing up to re-enter Iran’s oil and gas sector, the potential for full trading partnerships to be reignited could soon become a reality.
The significance of an improvement in relations with Iran to the industry is clear. By some accounts, with an estimated 151.2 billion barrels, Iran has the fourth largest oil reserves in the world, more than both Iraq and the UAE. In addition, Iran is home to the second largest reserves of natural gas after Russia. These conventional oil and gas reserves are not only relatively accessible, but are also considerably more economical in terms of extraction compared to the harder to reach tight oil or shale reserves.
Iran has a relatively developed infrastructure, a well-educated population of an estimated 77 million people, an established business class, an active civil society, and a functioning government structure that is able to make, and enforce, policy. For oil companies, provided they remain well-versed in the nuances of operating in Iran and fluently navigate current sanctions, the opportunity is considerable."
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"With Western markets gearing up to re-enter Iran’s oil and gas sector, the potential for full trading partnerships to be reignited could soon become a reality.
The significance of an improvement in relations with Iran to the industry is clear. By some accounts, with an estimated 151.2 billion barrels, Iran has the fourth largest oil reserves in the world, more than both Iraq and the UAE. In addition, Iran is home to the second largest reserves of natural gas after Russia. These conventional oil and gas reserves are not only relatively accessible, but are also considerably more economical in terms of extraction compared to the harder to reach tight oil or shale reserves.
Iran has a relatively developed infrastructure, a well-educated population of an estimated 77 million people, an established business class, an active civil society, and a functioning government structure that is able to make, and enforce, policy. For oil companies, provided they remain well-versed in the nuances of operating in Iran and fluently navigate current sanctions, the opportunity is considerable."
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Hedge-Fund Boutiques Show Dubai Nurturing Oasis Trading: Cities - Bloomberg
Hedge-Fund Boutiques Show Dubai Nurturing Oasis Trading: Cities - Bloomberg:
"When Ahmad Zuaiter started a frontier-markets hedge fund, the former Soros Fund Management LLC money manager chose Dubai over New York and London.
Zuaiter’s Jadara Capital Partners LP and VY Capital Management Co. Ltd. opened in the emirate in the past year, bringing to three the number of hedge-fund firms in the Dubai International Financial Centre, according to Dechert LLP, a law firm that helped establish both companies in the sheikhdom.
“If you want to run a boutique model, the best way is to be located in a centrally positioned hub like Dubai and use it as a nexus to travel extensively and frequently to your target markets,” Zuaiter, 46, said in an interview in his office, close to celebrity chef Marco Pierre White’s Wheeler’s of St James’s restaurant."
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"When Ahmad Zuaiter started a frontier-markets hedge fund, the former Soros Fund Management LLC money manager chose Dubai over New York and London.
Zuaiter’s Jadara Capital Partners LP and VY Capital Management Co. Ltd. opened in the emirate in the past year, bringing to three the number of hedge-fund firms in the Dubai International Financial Centre, according to Dechert LLP, a law firm that helped establish both companies in the sheikhdom.
“If you want to run a boutique model, the best way is to be located in a centrally positioned hub like Dubai and use it as a nexus to travel extensively and frequently to your target markets,” Zuaiter, 46, said in an interview in his office, close to celebrity chef Marco Pierre White’s Wheeler’s of St James’s restaurant."
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