Qatar to match new A350 wide-body against A380 - FT.com:
"Qatar Airways will pit its new A350 wide-body jet against its fleet of giant A380s in a move which could step up pressure on Airbus’s flagging superjumbo programme.
Akbar Al Baker, chief executive of Qatar Airways, is to decide next year whether to exercise an option to buy three more A380s after comparing the two jets.
“I have to see how the two aircraft perform, what the difference is,” he told the Financial Times as he collected the first of 80 A350s on order. Mr Al Baker was also taking ownership of his fourth A380. Qatar has a firm order for 10 of the superjumbos, as well as the option for three more."
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Friday, 26 December 2014
Potential UK club acquisition could help Qatar polish its image - Daily News Egypt
Potential UK club acquisition could help Qatar polish its image - Daily News Egypt:
"Qatar has booked two recent successes in what has become an uphill struggle to improve its tarnished image: a papering over of its rift with Saudi Arabia and the UAE sparked by Qatari support for the Muslim Brotherhood, and reports that it may be interested in acquiring London Premier League club Tottenham Hotspur.
The successes come against the backdrop of a host of news reports that have done little to improve Qatar’s controversial image. The possible Tottenham acquisition could generate a counter dote but risks reviving debate whether Gulf states are in part using the purchase of high profile football clubs as a reputational management tool or in the words of human rights critics reputation laundering.
To be sure, Qatar’s reported interest in Tottenham is driven by more than its immediate reputational issues. Like its Gulf rival the UAE, which owns Manchester City, Qatar has long been believed to want an English Premier League presence. Efforts a couple of years ago to acquire Manchester United foundered on disagreement over pricing. Qatar’s most prominent European trophy is Paris Saint Germain (PSG) alongside sponsorships that include FC Barcelona."
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"Qatar has booked two recent successes in what has become an uphill struggle to improve its tarnished image: a papering over of its rift with Saudi Arabia and the UAE sparked by Qatari support for the Muslim Brotherhood, and reports that it may be interested in acquiring London Premier League club Tottenham Hotspur.
The successes come against the backdrop of a host of news reports that have done little to improve Qatar’s controversial image. The possible Tottenham acquisition could generate a counter dote but risks reviving debate whether Gulf states are in part using the purchase of high profile football clubs as a reputational management tool or in the words of human rights critics reputation laundering.
To be sure, Qatar’s reported interest in Tottenham is driven by more than its immediate reputational issues. Like its Gulf rival the UAE, which owns Manchester City, Qatar has long been believed to want an English Premier League presence. Efforts a couple of years ago to acquire Manchester United foundered on disagreement over pricing. Qatar’s most prominent European trophy is Paris Saint Germain (PSG) alongside sponsorships that include FC Barcelona."
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Russia's Defense of the Ruble Cuts Reserves by $15.7 Billion in Week - Bloomberg
Russia's Defense of the Ruble Cuts Reserves by $15.7 Billion in Week - Bloomberg:
"Russia’s international reserves plunged the most in six years, losing $15.7 billion last week as the government and central bank pledged measures to support banks and defend the currency.
The value of the stockpile, which includes the central bank’s reserves and two sovereign wealth funds, fell to $398.9 billion in the week through Dec. 19, the Bank of Russia said today on its website. That is 22 percent drop from January.
Policy makers, led by central bank Governor Elvira Nabiullina, are fighting to stem the ruble’s worst slump since the 1998 default. With oil prices and sanctions over the Ukraine conflict pushing Russia toward recession, the authorities have raised rates and sought to ease dollar demand. The steps have helped stem the currency rout, after the ruble collapsed to a record low 80 against the dollar last week."
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"Russia’s international reserves plunged the most in six years, losing $15.7 billion last week as the government and central bank pledged measures to support banks and defend the currency.
The value of the stockpile, which includes the central bank’s reserves and two sovereign wealth funds, fell to $398.9 billion in the week through Dec. 19, the Bank of Russia said today on its website. That is 22 percent drop from January.
Policy makers, led by central bank Governor Elvira Nabiullina, are fighting to stem the ruble’s worst slump since the 1998 default. With oil prices and sanctions over the Ukraine conflict pushing Russia toward recession, the authorities have raised rates and sought to ease dollar demand. The steps have helped stem the currency rout, after the ruble collapsed to a record low 80 against the dollar last week."
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Iraq Says Oil Fair at $70-$80 as Lower Oil Will Need OPEC - Bloomberg
Iraq Says Oil Fair at $70-$80 as Lower Oil Will Need OPEC - Bloomberg:
"OPEC will need to “step in” amid further declines in oil prices, which are fair at about $70 to $80 a barrel, according to the group’s second-biggest producer.
The Organization of Petroleum Exporting Countries could still hold back from intervening in the market for one or two years, Iraq’s Oil Minister Adel Abdul Mahdi said in an interview. Brent oil dropped about 20 percent since OPEC decided to maintain output at its November meeting in Vienna.
Global oil supply is growing as the highest U.S. output in at least three decades led to a glut that Qatar estimates at 2 million barrels. Saudi Arabia’s Oil Minister Ali Al-Naimi said Dec. 21 high-cost producers will have to make cuts if oil prices keep falling while the United Arab Emirates Energy Minister Suhail Al Mazrouei urged producers from outside OPEC to trim output. Iraq’s 2015 budget assumes a $60 oil price."
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"OPEC will need to “step in” amid further declines in oil prices, which are fair at about $70 to $80 a barrel, according to the group’s second-biggest producer.
The Organization of Petroleum Exporting Countries could still hold back from intervening in the market for one or two years, Iraq’s Oil Minister Adel Abdul Mahdi said in an interview. Brent oil dropped about 20 percent since OPEC decided to maintain output at its November meeting in Vienna.
Global oil supply is growing as the highest U.S. output in at least three decades led to a glut that Qatar estimates at 2 million barrels. Saudi Arabia’s Oil Minister Ali Al-Naimi said Dec. 21 high-cost producers will have to make cuts if oil prices keep falling while the United Arab Emirates Energy Minister Suhail Al Mazrouei urged producers from outside OPEC to trim output. Iraq’s 2015 budget assumes a $60 oil price."
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Saudi Arabia Seen by Former Adviser Assuming $80 Oil - Bloomberg
Saudi Arabia Seen by Former Adviser Assuming $80 Oil - Bloomberg:
"Saudi Arabia’s 2015 budget is probably assuming an oil price of $80 a barrel, and will be seen as a sign of confidence in the market, according to a former economic adviser to the country’s government.
The assumption is down from $103 a barrel for this year, John Sfakianakis, who used to be chief economic adviser to Saudi Arabia’s Ministry of Finance, said by phone after the budget was announced yesterday. The world’s biggest crude exporter set 2015 spending at 860 billion riyals ($229 billion) with revenue falling to 715 billion riyals from 1.046 trillion riyals in 2014, the Finance Ministry said. Oil accounted for 89 percent of its 2014 revenue.
Brent oil tumbled into a bear market this year as the U.S. pumped the most crude in more than three decades, leading the United Arab Emirates Energy Minister Suhail Al Mazrouei to urge producers from outside the Organization of Petroleum Exporting Countries to trim output. Iraq, the second-biggest producer in OPEC, said this week its 2015 budget is based on $60 oil."
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"Saudi Arabia’s 2015 budget is probably assuming an oil price of $80 a barrel, and will be seen as a sign of confidence in the market, according to a former economic adviser to the country’s government.
The assumption is down from $103 a barrel for this year, John Sfakianakis, who used to be chief economic adviser to Saudi Arabia’s Ministry of Finance, said by phone after the budget was announced yesterday. The world’s biggest crude exporter set 2015 spending at 860 billion riyals ($229 billion) with revenue falling to 715 billion riyals from 1.046 trillion riyals in 2014, the Finance Ministry said. Oil accounted for 89 percent of its 2014 revenue.
Brent oil tumbled into a bear market this year as the U.S. pumped the most crude in more than three decades, leading the United Arab Emirates Energy Minister Suhail Al Mazrouei to urge producers from outside the Organization of Petroleum Exporting Countries to trim output. Iraq, the second-biggest producer in OPEC, said this week its 2015 budget is based on $60 oil."
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