Budget 2015 – Osborne bids to woo voters - YouTube: ""
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Wednesday, 18 March 2015
UPDATE 3-MIDEAST STOCKS-Gulf markets drop as U.S. oil hits 6-year low | Reuters
UPDATE 3-MIDEAST STOCKS-Gulf markets drop as U.S. oil hits 6-year low | Reuters:
"Stock markets across the Gulf fell sharply on Wednesday after U.S. crude futures dropped to a fresh six-year low and Brent oil also edged down.
U.S. oil futures dropped about 3 percent and traded just above $42 per barrel on Wednesday after crude inventories rose by 10.5 million barrels to 450 million in the week to March 13, according to data from the American Petroleum Institute.
Official inventory data will be issued later on Wednesday by the U.S. Energy Information Administration (EIA). Brent crude edged down towards $53 per barrel."
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"Stock markets across the Gulf fell sharply on Wednesday after U.S. crude futures dropped to a fresh six-year low and Brent oil also edged down.
U.S. oil futures dropped about 3 percent and traded just above $42 per barrel on Wednesday after crude inventories rose by 10.5 million barrels to 450 million in the week to March 13, according to data from the American Petroleum Institute.
Official inventory data will be issued later on Wednesday by the U.S. Energy Information Administration (EIA). Brent crude edged down towards $53 per barrel."
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RWE Said to Mull 10% Stake Sale to Abu Dhabi Investors - Bloomberg Business
RWE Said to Mull 10% Stake Sale to Abu Dhabi Investors - Bloomberg Business:
"RWE AG is considering selling a 10 percent stake to Abu Dhabi investors as Germany’s second-largest utility contends with sliding prices and surging debt, according to people with knowledge of the matter.
RWE has been in talks with investors in the Emirate about the potential sale since last year and there is no certainty an agreement will be reached, the people said, asking not to be named as the details aren’t public.
RWE was contacted by an investor from the Middle East region a few months ago, spokeswoman Sabine Jeschke said by phone. The company is considering different types of cooperation, she added, declining to comment further."
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"RWE AG is considering selling a 10 percent stake to Abu Dhabi investors as Germany’s second-largest utility contends with sliding prices and surging debt, according to people with knowledge of the matter.
RWE has been in talks with investors in the Emirate about the potential sale since last year and there is no certainty an agreement will be reached, the people said, asking not to be named as the details aren’t public.
RWE was contacted by an investor from the Middle East region a few months ago, spokeswoman Sabine Jeschke said by phone. The company is considering different types of cooperation, she added, declining to comment further."
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MIDEAST STOCKS-Oil may be key driver of cautious Gulf markets | Reuters
MIDEAST STOCKS-Oil may be key driver of cautious Gulf markets | Reuters:
"Gulf stock markets may keep tracking volatile oil prices on Wednesday in the absence of other strong catalysts. Also, investors may be cautious ahead of the U.S. Federal Reserve's policy statement and U.S. oil inventories data due later in the day.
Brent oil edged down towards $53 per barrel in Asian trade on Wednesday as U.S. crude inventories were forecast to have surged for the tenth straight week to a new record high.
Oil's fresh weakness has weighed on all Gulf markets this week, with benchmarks in Dubai and Saudi Arabia showing most volatility."
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"Gulf stock markets may keep tracking volatile oil prices on Wednesday in the absence of other strong catalysts. Also, investors may be cautious ahead of the U.S. Federal Reserve's policy statement and U.S. oil inventories data due later in the day.
Brent oil edged down towards $53 per barrel in Asian trade on Wednesday as U.S. crude inventories were forecast to have surged for the tenth straight week to a new record high.
Oil's fresh weakness has weighed on all Gulf markets this week, with benchmarks in Dubai and Saudi Arabia showing most volatility."
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Delta Says Gulf Carriers Receiving Tens of Billions in Subsidies - Bloomberg Business
Delta Says Gulf Carriers Receiving Tens of Billions in Subsidies - Bloomberg Business:
"Delta Air Lines Inc. said carriers based in the Persian Gulf are receiving subsidies worth tens of billions of dollars from the governments of the U.A.E. and Qatar, as the war of words between airlines in the U.S. and the Middle East continue.
The U.S. government needs “full transparency to the actual financial condition of these airlines,” and should “respond accordingly” if it finds they’ve received state support, Delta President Edward Bastian said.
U.S. airlines have been lobbying officials in Washington, D.C. and the European Union over the growth of state-owned Gulf carriers Emirates, Qatar Airways and Etihad Airways, saying they’ve received about $42 billion in aid over the past decade. The U.S. should take a close look at the Open Skies agreements that allow these airlines access to U.S. airports, the head of the U.S. House of Representatives transport committee said Tuesday."
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"Delta Air Lines Inc. said carriers based in the Persian Gulf are receiving subsidies worth tens of billions of dollars from the governments of the U.A.E. and Qatar, as the war of words between airlines in the U.S. and the Middle East continue.
The U.S. government needs “full transparency to the actual financial condition of these airlines,” and should “respond accordingly” if it finds they’ve received state support, Delta President Edward Bastian said.
U.S. airlines have been lobbying officials in Washington, D.C. and the European Union over the growth of state-owned Gulf carriers Emirates, Qatar Airways and Etihad Airways, saying they’ve received about $42 billion in aid over the past decade. The U.S. should take a close look at the Open Skies agreements that allow these airlines access to U.S. airports, the head of the U.S. House of Representatives transport committee said Tuesday."
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Deutsche Bank Says Dubai Will Be Hub for Africa Business - Bloomberg Business
Deutsche Bank Says Dubai Will Be Hub for Africa Business - Bloomberg Business:
"Deutsche Bank AG is merging its African business into its Middle Eastern operations as it seeks greater access to the region’s fastest-growing economies.
Ashok Aram, who heads Deutsche Bank in the Middle East, made the announcement today at the Bloomberg Future Cities Forum in Dubai. Aram will expand his responsibilities to take charge of Africa, including South Africa and Nigeria, and said the move has been approved by Deutsche Bank’s board. Dubai will be the hub for the newly-created Middle East and Africa region.
A city of 2.1 million people, Dubai became a regional banking center after opening the Dubai International Financial Centre in 2004 to attract international banks, asset managers and insurers with promises of zero taxes for 50 years. Rivals such as Standard Chartered Plc and Barclays Plc relocated their African businesses to Johannesburg from Dubai in recent years."
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"Deutsche Bank AG is merging its African business into its Middle Eastern operations as it seeks greater access to the region’s fastest-growing economies.
Ashok Aram, who heads Deutsche Bank in the Middle East, made the announcement today at the Bloomberg Future Cities Forum in Dubai. Aram will expand his responsibilities to take charge of Africa, including South Africa and Nigeria, and said the move has been approved by Deutsche Bank’s board. Dubai will be the hub for the newly-created Middle East and Africa region.
A city of 2.1 million people, Dubai became a regional banking center after opening the Dubai International Financial Centre in 2004 to attract international banks, asset managers and insurers with promises of zero taxes for 50 years. Rivals such as Standard Chartered Plc and Barclays Plc relocated their African businesses to Johannesburg from Dubai in recent years."
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