Abu Dhabi's Mubadala Reviews Lucrative PR Roster:
"Government investment vehicle Mubadala is reviewing its lucrative PR roster to better support rapid global growth.
The review comes as the Abu Dhabi-owned company's overall portfolio of assets grows to $61bn, driven by international investment across a range of industries.
Mubadala wields one of the Middle East's largest public relations budgets, much of which is spent with Edelman. The independent PR firm is currently Mubadala's key corporate PR partner, and also handles PR duties for specific business units, alongside a roster that also includes APCO and Hill+Knowlton."
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Tuesday 16 September 2014
Do oil, religion hinder Arab revival? - Al-Monitor: the Pulse of the Middle East
Do oil, religion hinder Arab revival? - Al-Monitor: the Pulse of the Middle East:
"The Arab Spring has made prominent a number of phenomena that find their roots in the distinguishing features of the region, especially the Arab Levant. These features are religion (and, more precisely, sect) and oil. Analysis of these two features may help clarify the current situation and the growing chaos.
Steadfastness of oil-monarchic states
Phenomenon One: Some states have been steadfast in the face of the region’s uprisings, which broke out three and a half years ago. Except for Algeria, whose civil war is still grinding in the minds and imaginations of its sons, it seems as though the states that have not been affected by the storm that has shaken the region apply Sharia and are based on a monarchical political system. With the exception of Jordan, which was able to stem the beginnings of the popular movement within its borders with relative ease, all of these states have rentier economies based on oil and gas. It seems at first glance that the “backbone” of the Arab world is based on religion and oil. Supposedly, religion provides coherence and oil secures abundance. This is the best that a ruler can hope for to guarantee his authority and power over his territory."
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"The Arab Spring has made prominent a number of phenomena that find their roots in the distinguishing features of the region, especially the Arab Levant. These features are religion (and, more precisely, sect) and oil. Analysis of these two features may help clarify the current situation and the growing chaos.
Steadfastness of oil-monarchic states
Phenomenon One: Some states have been steadfast in the face of the region’s uprisings, which broke out three and a half years ago. Except for Algeria, whose civil war is still grinding in the minds and imaginations of its sons, it seems as though the states that have not been affected by the storm that has shaken the region apply Sharia and are based on a monarchical political system. With the exception of Jordan, which was able to stem the beginnings of the popular movement within its borders with relative ease, all of these states have rentier economies based on oil and gas. It seems at first glance that the “backbone” of the Arab world is based on religion and oil. Supposedly, religion provides coherence and oil secures abundance. This is the best that a ruler can hope for to guarantee his authority and power over his territory."
'via Blog this'
UAE regulator aims to stem flow of overseas debt sales | The National
UAE regulator aims to stem flow of overseas debt sales | The National:
"The federal stock market regulator has introduced a series of reforms to its bond and sukuk regulations in a bid to halt the flow of big debt sales overseas
The Securities and Commodities Authority made the changes after a wide-ranging consultation.
“In our review we found out the rules we had in place were only for listing and trading, not for issuing,” said Munther Barakat, senior adviser at SCA at a workshop held for the legal financial community at Abu Dhabi’s St Regis hotel."
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"The federal stock market regulator has introduced a series of reforms to its bond and sukuk regulations in a bid to halt the flow of big debt sales overseas
The Securities and Commodities Authority made the changes after a wide-ranging consultation.
“In our review we found out the rules we had in place were only for listing and trading, not for issuing,” said Munther Barakat, senior adviser at SCA at a workshop held for the legal financial community at Abu Dhabi’s St Regis hotel."
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S&P says to move Greek, UAE, Qatar stocks to emerging indexes | GulfNews.com
S&P says to move Greek, UAE, Qatar stocks to emerging indexes | GulfNews.com:
"S&P Dow Jones will move Greek stocks into its emerging indexes on Sept. 22 while formally removing Qatar and the UAE from frontier indexes and upgrading them to emerging markets, the company said on Monday. S&P’s decision to reclassify the three countries as emerging markets was announced last October following a consultation with clients and comes after similar moves by rival index provider MSCI.
“This year’s major changes to the S&P Global BMI indices are the reclassification of Greece to Emerging status from Developed status, as well as the reclassification of Qatar and UAE from Frontier status to Emerging status,” S&P said in a statement. MSCI moved Greece to emerging markets from its developed indexes last November. It also reclassified Qatar and the United Arab Emirates as emerging markets at the end of May this year. S&P said Greece and Qatar would carry weights of 0.8 and 0.9 per cent of the S&P emerging markets BMI index while the UAE would have 1.0 per cent. That compares with a 24 per cent weight for China and 11.3 per cent for Brazil, the company added."
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"S&P Dow Jones will move Greek stocks into its emerging indexes on Sept. 22 while formally removing Qatar and the UAE from frontier indexes and upgrading them to emerging markets, the company said on Monday. S&P’s decision to reclassify the three countries as emerging markets was announced last October following a consultation with clients and comes after similar moves by rival index provider MSCI.
“This year’s major changes to the S&P Global BMI indices are the reclassification of Greece to Emerging status from Developed status, as well as the reclassification of Qatar and UAE from Frontier status to Emerging status,” S&P said in a statement. MSCI moved Greece to emerging markets from its developed indexes last November. It also reclassified Qatar and the United Arab Emirates as emerging markets at the end of May this year. S&P said Greece and Qatar would carry weights of 0.8 and 0.9 per cent of the S&P emerging markets BMI index while the UAE would have 1.0 per cent. That compares with a 24 per cent weight for China and 11.3 per cent for Brazil, the company added."
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Economic Flip Shields East EU From Russia Row: Chart of the Day - Bloomberg
Economic Flip Shields East EU From Russia Row: Chart of the Day - Bloomberg:
"
The European Union’s eastern members are sheltered from tit-for-tat trade sanctions with Russia as rising consumer demand and investment help smooth over economic dips from declining exports.
The CHART OF THE DAY, using Bloomberg calculations based on Eurostat data, shows the rising contribution of domestic demand to the economies of the Czech Republic, Poland, Hungary and Slovakia, the EU’s four main central European states with the region’s closest trade ties to the euro area. The Czech, Slovak and Hungarian prime ministers bristled against sanctions to Russia, saying they will hurt them more than help Ukraine.
“Reviving consumption has offset weakness in main export markets, namely Germany,” said Lubomir Korsnak, an economist at UniCredit Bank in Bratislava. “It can serve as a buffer should foreign demand deteriorate because of the Ukraine crisis.”"
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"
The CHART OF THE DAY, using Bloomberg calculations based on Eurostat data, shows the rising contribution of domestic demand to the economies of the Czech Republic, Poland, Hungary and Slovakia, the EU’s four main central European states with the region’s closest trade ties to the euro area. The Czech, Slovak and Hungarian prime ministers bristled against sanctions to Russia, saying they will hurt them more than help Ukraine.
“Reviving consumption has offset weakness in main export markets, namely Germany,” said Lubomir Korsnak, an economist at UniCredit Bank in Bratislava. “It can serve as a buffer should foreign demand deteriorate because of the Ukraine crisis.”"
'via Blog this'
Emerging Market Stocks Extend Rout With Currencies; Ruble Slides - Bloomberg
Emerging Market Stocks Extend Rout With Currencies; Ruble Slides - Bloomberg:
"Emerging-market stocks fell for an eighth day and currencies slid on speculation the U.S. is moving closer to raising interest rates and on signs China’s economy is slowing. Russia’s ruble weakened to a record for a third day.
The MSCI Emerging Markets Index dropped 0.5 percent to 1,055.78, posting the longest rout since a 10-day loss in November. Russia’s Micex Index slid 0.3 percent, while stock markets in the Czech Republic and Saudi Arabia lost at least 0.7 percent. Brazil’s Ibovespa rallied following the worst weekly drop since May 2012.
Data on Chinese industrial production and retail sales over the weekend missed estimates, underscoring the risks of a deeper slowdown. Some of the factors that becalmed developed nations are raising risks for emerging markets, the Bank for International Settlements said. China Life Insurance Co. (2628) helped drag Hong Kong-traded Chinese shares to a five-week low."
'via Blog this'
"Emerging-market stocks fell for an eighth day and currencies slid on speculation the U.S. is moving closer to raising interest rates and on signs China’s economy is slowing. Russia’s ruble weakened to a record for a third day.
The MSCI Emerging Markets Index dropped 0.5 percent to 1,055.78, posting the longest rout since a 10-day loss in November. Russia’s Micex Index slid 0.3 percent, while stock markets in the Czech Republic and Saudi Arabia lost at least 0.7 percent. Brazil’s Ibovespa rallied following the worst weekly drop since May 2012.
Data on Chinese industrial production and retail sales over the weekend missed estimates, underscoring the risks of a deeper slowdown. Some of the factors that becalmed developed nations are raising risks for emerging markets, the Bank for International Settlements said. China Life Insurance Co. (2628) helped drag Hong Kong-traded Chinese shares to a five-week low."
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Guest post: Exotic among exotics, Iran shares cast a spell – beyondbrics - Blogs - FT.com
Guest post: Exotic among exotics, Iran shares cast a spell – beyondbrics - Blogs - FT.com:
"The best performing stock market in the world in 2013 was up 130 per cent last year*. The country it serves has a population of nearly 80m, some 40 per cent of whom are under the age of 24. It has one of the world’s highest literacy rates and is also home to the world’s fourth largest proven crude oil reserves. Which market is this? The Tehran Stock Exchange (TSE), of course.
For frontier market investors, Iran remains the Holy Grail. Charles Robertson, Global Chief Economist at Renaissance Capital, believes that following the opening of the Saudi Arabian market, “Iran is the world’s last major market to open up” and could potentially be accessible in the next 6-18 months.
First established in the 1960s, the TSE now has 320 listed companies, with an aggregate market capitalisation of $130bn. There is also a smaller over-the-counter market, the Fara bourse, which lists 180 companies, with an aggregate market capitalisation of $40bn. Combined across both markets, $100m trades are completed on a daily basis. At its peak last year, trading liquidity reached $250m per day."
'via Blog this'
"The best performing stock market in the world in 2013 was up 130 per cent last year*. The country it serves has a population of nearly 80m, some 40 per cent of whom are under the age of 24. It has one of the world’s highest literacy rates and is also home to the world’s fourth largest proven crude oil reserves. Which market is this? The Tehran Stock Exchange (TSE), of course.
For frontier market investors, Iran remains the Holy Grail. Charles Robertson, Global Chief Economist at Renaissance Capital, believes that following the opening of the Saudi Arabian market, “Iran is the world’s last major market to open up” and could potentially be accessible in the next 6-18 months.
First established in the 1960s, the TSE now has 320 listed companies, with an aggregate market capitalisation of $130bn. There is also a smaller over-the-counter market, the Fara bourse, which lists 180 companies, with an aggregate market capitalisation of $40bn. Combined across both markets, $100m trades are completed on a daily basis. At its peak last year, trading liquidity reached $250m per day."
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