Iran eyes Chinese oil firms to get projects going | GulfNews.com:
"Iran hopes to resolve differences with Chinese energy companies on oil and gas projects in the Islamic republic, as Tehran wants to be ready to raise output quickly after a potential lifting of sanctions this year, Iranian oil officials said on Wednesday.
The officials are in China this week to discuss Chinese investments in oil and gas developments in Iran, as well as oil sales, just days after world powers and the Opec member reached a framework nuclear deal. The talks come ahead of a visit to Beijing by Iranian Oil Minister Bijan Zanganeh, his first since assuming his post two years ago.
Iran, the world’s fifth-largest oil producer, hopes to nearly double its exports from just over 1 million barrels per day (bpd) in two months once sanctions are lifted, although analysts say it will take longer."
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Thursday, 9 April 2015
Mixed messages in a divided region - FT.com
Mixed messages in a divided region - FT.com:
"In the middle of last year, with Iraq racked by a fresh outbreak of Sunni-Shia bloodshed, a family picture countering the sectarian narrative went viral on Twitter. It shows a mother holding up a sign that reads “I am Sunni” while the father’s says “I am Shia”. Between them is seated a little girl with the sign “I am Sushi”.
The origin of the photograph was unclear. Some people on social media traced it back to Beirut, and thought the family was Lebanese not Iraqi. Others wondered if it was altered.
But it didn’t matter. Genuine or not, the image highlighted a tradition of mixed marriages in the Middle East’s multi-confessional nations, a little harmony amid the Sunni-Shia discord. It struck a chord because, at least among some segments of society, hatred of sectarianism is greater than sectarian hatred."
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"In the middle of last year, with Iraq racked by a fresh outbreak of Sunni-Shia bloodshed, a family picture countering the sectarian narrative went viral on Twitter. It shows a mother holding up a sign that reads “I am Sunni” while the father’s says “I am Shia”. Between them is seated a little girl with the sign “I am Sushi”.
The origin of the photograph was unclear. Some people on social media traced it back to Beirut, and thought the family was Lebanese not Iraqi. Others wondered if it was altered.
But it didn’t matter. Genuine or not, the image highlighted a tradition of mixed marriages in the Middle East’s multi-confessional nations, a little harmony amid the Sunni-Shia discord. It struck a chord because, at least among some segments of society, hatred of sectarianism is greater than sectarian hatred."
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Islamic Fashion’s Expanding Market Attracts Shariah Financiers - Bloomberg Business
Islamic Fashion’s Expanding Market Attracts Shariah Financiers - Bloomberg Business:
"For Anas Sillwood, a British convert to Islam who moved to Jordan in the 1990s, Shariah-compliant fashion was initially just a way to support himself while he studied Arabic and the religion.
Sillwood, who set up Shukr LLC in 2000, says he saw a gap in the market for elegant and modest clothing that would appeal to Muslims in the west. Fifteen years later, his company designs, makes and sells garments via the web and three stores.
“My goal wasn’t to become a full-time business person,” Sillwood, who plans to open five to 10 more outlets in the next five years, said in a phone interview from Amman on Tuesday. “But then it snowballed. By 2005 and 2006 our sales started to increase quite dramatically and it was obvious there was very big potential for the industry.”"
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"For Anas Sillwood, a British convert to Islam who moved to Jordan in the 1990s, Shariah-compliant fashion was initially just a way to support himself while he studied Arabic and the religion.
Sillwood, who set up Shukr LLC in 2000, says he saw a gap in the market for elegant and modest clothing that would appeal to Muslims in the west. Fifteen years later, his company designs, makes and sells garments via the web and three stores.
“My goal wasn’t to become a full-time business person,” Sillwood, who plans to open five to 10 more outlets in the next five years, said in a phone interview from Amman on Tuesday. “But then it snowballed. By 2005 and 2006 our sales started to increase quite dramatically and it was obvious there was very big potential for the industry.”"
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Oil edges back from 6 percent fall, but outlook weak | Reuters
Oil edges back from 6 percent fall, but outlook weak | Reuters:
"Oil prices rose more than a percent on Thursday, clawing back part of the 6 percent slump in the previous session that was triggered by a shock jump in U.S. crude inventories and record Saudi output, although analysts said sentiment remained bearish.
A 10.95 million-barrel surge in U.S. crude stockpiles to 482.4 million last week, the biggest gain in 14 years, and Saudi oil production of 10.3 million barrels a day in March had battered crude futures on Wednesday.
"Total U.S. crude stocks continued to fly far above 5-year highs, setting new records every week," Societe Generale analysts said in a note."
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"Oil prices rose more than a percent on Thursday, clawing back part of the 6 percent slump in the previous session that was triggered by a shock jump in U.S. crude inventories and record Saudi output, although analysts said sentiment remained bearish.
A 10.95 million-barrel surge in U.S. crude stockpiles to 482.4 million last week, the biggest gain in 14 years, and Saudi oil production of 10.3 million barrels a day in March had battered crude futures on Wednesday.
"Total U.S. crude stocks continued to fly far above 5-year highs, setting new records every week," Societe Generale analysts said in a note."
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MIDEAST STOCKS-Gulf higher on oil, Egypt rises after debt upgrade | Reuters
MIDEAST STOCKS-Gulf higher on oil, Egypt rises after debt upgrade | Reuters:
"Most Gulf stock markets rose on Wednesday, buoyed by firmer oil prices, as Egypt climbed after rating agency Moody's Investors Service upgraded the country's sovereign debt.
Brent crude had rebounded sharply in the past two days and although it pulled back slightly on Wednesday, it remained above $58 a barrel, about $1 above its levels when Gulf stock markets were open on Tuesday.
The Saudi stock index climbed 0.6 percent to 8,852 points in increasing turnover. It rose further from chart support at the March low of 8,497 points, which was tested and held on Sunday, and may now be at least a short-term bottom for the market."
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"Most Gulf stock markets rose on Wednesday, buoyed by firmer oil prices, as Egypt climbed after rating agency Moody's Investors Service upgraded the country's sovereign debt.
Brent crude had rebounded sharply in the past two days and although it pulled back slightly on Wednesday, it remained above $58 a barrel, about $1 above its levels when Gulf stock markets were open on Tuesday.
The Saudi stock index climbed 0.6 percent to 8,852 points in increasing turnover. It rose further from chart support at the March low of 8,497 points, which was tested and held on Sunday, and may now be at least a short-term bottom for the market."
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