OPEC Meets: Here's Why They May Not Cut Oil Production: Video - Bloomberg: ""
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Wednesday, 26 November 2014
FlyDubai Follows Emirates as Airline Sukuk Demand Growing - Bloomberg
FlyDubai Follows Emirates as Airline Sukuk Demand Growing - Bloomberg:
"FlyDubai’s debut Islamic bonds are signaling growing appetite for sukuk from aviation companies in the Gulf as they spend on airports and fleet expansion.
The budget carrier raised $500 million this month in the first sale of the debt by a regional airline after Emirates, the world’s largest operator of A380 superjumbo planes. The issue received bids for more than six times the amount offered.
Gulf cities including Dubai, home to the world’s second-busiest airport, are investing $40 billion on infrastructure such as runways and passenger terminals, according to the International Air Transport Association. Boeing Co. (BA) forecasts Middle East airlines will need more than 2,600 new aircraft over the next 20 years, worth $550 billion. Sukuk will be part of the financing mix, said Mansoor Durrani at National Commercial Bank (NCB), Saudi Arabia’s biggest bank."
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"FlyDubai’s debut Islamic bonds are signaling growing appetite for sukuk from aviation companies in the Gulf as they spend on airports and fleet expansion.
The budget carrier raised $500 million this month in the first sale of the debt by a regional airline after Emirates, the world’s largest operator of A380 superjumbo planes. The issue received bids for more than six times the amount offered.
Gulf cities including Dubai, home to the world’s second-busiest airport, are investing $40 billion on infrastructure such as runways and passenger terminals, according to the International Air Transport Association. Boeing Co. (BA) forecasts Middle East airlines will need more than 2,600 new aircraft over the next 20 years, worth $550 billion. Sukuk will be part of the financing mix, said Mansoor Durrani at National Commercial Bank (NCB), Saudi Arabia’s biggest bank."
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Iran Says Close to Saudi Oil-Market View Before Meeting - Bloomberg
Iran Says Close to Saudi Oil-Market View Before Meeting - Bloomberg:
"Iran’s oil minister said his nation’s position on oil markets is close to that of Saudi Arabia, hours after the world’s biggest crude exporter signaled it may not favor output curbs in response to slumping prices.
“We didn’t discuss only about the cut, but we discussed the market situation and our position is close to each other,” Iran’s Bijan Namdar Zanganeh said in Vienna today, after meeting Saudi Arabia’s Ali Al-Naimi. The Saudi oil minister said earlier the oil market will “stabilize itself.” Later, Al-Naimi said that Persian Gulf countries have reached a consensus on output and OPEC will take a “unified position,” without elaborating on what they agreed to do.
Crude plunged into a bear market this year and is trading close to its lowest since 2010 amid speculation that Saudi Arabia and other nations in the Organization of Petroleum Exporting Countries won’t take the necessary measures to eliminate a surplus. The group meets tomorrow in Vienna and 58 percent of respondents in a survey by Bloomberg Intelligence anticipate the group will leave output unchanged."
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"Iran’s oil minister said his nation’s position on oil markets is close to that of Saudi Arabia, hours after the world’s biggest crude exporter signaled it may not favor output curbs in response to slumping prices.
“We didn’t discuss only about the cut, but we discussed the market situation and our position is close to each other,” Iran’s Bijan Namdar Zanganeh said in Vienna today, after meeting Saudi Arabia’s Ali Al-Naimi. The Saudi oil minister said earlier the oil market will “stabilize itself.” Later, Al-Naimi said that Persian Gulf countries have reached a consensus on output and OPEC will take a “unified position,” without elaborating on what they agreed to do.
Crude plunged into a bear market this year and is trading close to its lowest since 2010 amid speculation that Saudi Arabia and other nations in the Organization of Petroleum Exporting Countries won’t take the necessary measures to eliminate a surplus. The group meets tomorrow in Vienna and 58 percent of respondents in a survey by Bloomberg Intelligence anticipate the group will leave output unchanged."
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MIDEAST STOCKS-Markets gloomy ahead of OPEC meeting | Reuters
MIDEAST STOCKS-Markets gloomy ahead of OPEC meeting | Reuters:
"Most Gulf markets fell on Wednesday as uncertainty about oil prices prompted investors to sell stocks, while energy importer Egypt posted strong gains.
Brent crude traded below $79 a barrel on Wednesday after Saudi Arabia signalled it was unlikely to push for a major change in OPEC oil output despite a collapse in prices.
Saudi Arabian Oil Minister Ali al-Naimi said he expected oil "to stabilise itself eventually", a comment traders understood to mean that the cartel would not cut output when oil ministers from the Organization of the Petroleum Exporting Countries (OPEC) meet on Thursday in Vienna."
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"Most Gulf markets fell on Wednesday as uncertainty about oil prices prompted investors to sell stocks, while energy importer Egypt posted strong gains.
Brent crude traded below $79 a barrel on Wednesday after Saudi Arabia signalled it was unlikely to push for a major change in OPEC oil output despite a collapse in prices.
Saudi Arabian Oil Minister Ali al-Naimi said he expected oil "to stabilise itself eventually", a comment traders understood to mean that the cartel would not cut output when oil ministers from the Organization of the Petroleum Exporting Countries (OPEC) meet on Thursday in Vienna."
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