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Thursday 11 June 2015
MIDEAST STOCKS-Saudi Arabia flat despite weaker oil, Egypt slips | News by Country | Reuters
MIDEAST STOCKS-Saudi Arabia flat despite weaker oil, Egypt slips | News by Country | Reuters:
"Gains by Saudi Arabia's property and consumer stocks offset losses in the petrochemicals sector following oil's retreat on Thursday, while Egypt's bourse edged down.
Overall, the main Saudi index was flat, supported by foodmaker Savola Group, up 1.5 percent, and major retail lender Al Rajhi Bank which rose 0.2 percent.
Real estate companies Jabal Omar and Dar Al Arkan climbed 0.9 and 1.2 percent respectively."
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"Gains by Saudi Arabia's property and consumer stocks offset losses in the petrochemicals sector following oil's retreat on Thursday, while Egypt's bourse edged down.
Overall, the main Saudi index was flat, supported by foodmaker Savola Group, up 1.5 percent, and major retail lender Al Rajhi Bank which rose 0.2 percent.
Real estate companies Jabal Omar and Dar Al Arkan climbed 0.9 and 1.2 percent respectively."
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DIFC has enough cash, balance sheet strong to fund expansion | GulfNews.com
DIFC has enough cash, balance sheet strong to fund expansion | GulfNews.com:
"Dubai International Financial Centre (DIFC) has an excess of funds currently with a strong balance sheet, to fund of any of its plans to develop plots, and that is what it intends to do.
“We will be embarking on developing under the umbrella of DIFC similar to what we have done in the past by building the Gate, the Gate Village, so going forward most of the development will be done by the DIFC,” Eisa Kazim, Governor of DIFC, said.
“We fully understand the requirements of the clients. We would not purely focus it on commercial basis as compared to a third party developer,” Kazim said."
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"Dubai International Financial Centre (DIFC) has an excess of funds currently with a strong balance sheet, to fund of any of its plans to develop plots, and that is what it intends to do.
“We will be embarking on developing under the umbrella of DIFC similar to what we have done in the past by building the Gate, the Gate Village, so going forward most of the development will be done by the DIFC,” Eisa Kazim, Governor of DIFC, said.
“We fully understand the requirements of the clients. We would not purely focus it on commercial basis as compared to a third party developer,” Kazim said."
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DIFC aims to be 3 times bigger by 2024 | GulfNews.com
DIFC aims to be 3 times bigger by 2024 | GulfNews.com:
"Dubai International Financial Centre (DIFC) aims to be three times bigger in terms of number of firms, employees, assets under management and expects the growth to be driven by expanding this as a hub for linking Asia Pacific with the regional markets, its senior official said on Wednesday.
The DIFC, which started operations in 2004, and attracted 19 firms during inception, now boasts more than a 1,000 firms with 18,000 employees, and going forward the DIFC wants to shift from being a financial centre to a full fledged hub.
“In the next 10 years, our plan is to triple the size of DIFC in terms of number of companies operational in the DIFC, number of people, occupied space, assets under management,” Eisa Kazim, Governor of (DIFC) said at a press conference."
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"Dubai International Financial Centre (DIFC) aims to be three times bigger in terms of number of firms, employees, assets under management and expects the growth to be driven by expanding this as a hub for linking Asia Pacific with the regional markets, its senior official said on Wednesday.
The DIFC, which started operations in 2004, and attracted 19 firms during inception, now boasts more than a 1,000 firms with 18,000 employees, and going forward the DIFC wants to shift from being a financial centre to a full fledged hub.
“In the next 10 years, our plan is to triple the size of DIFC in terms of number of companies operational in the DIFC, number of people, occupied space, assets under management,” Eisa Kazim, Governor of (DIFC) said at a press conference."
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Saudi Arabian oil output hits record - FT.com
Saudi Arabian oil output hits record - FT.com:
"Saudi Arabia increased its oil production to a record level in May in an attempt to win back more customers and meet demand for its crude.
Output in May reached 10.33m barrels a day, according to numbers submitted by Riyadh to Opec, the oil cartel, confirming the widely held view that Saudi Arabia’s production is heading higher.
The kingdom’s oil output had been 10.31m b/d in April, Riyadh told Opec."
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"Saudi Arabia increased its oil production to a record level in May in an attempt to win back more customers and meet demand for its crude.
Output in May reached 10.33m barrels a day, according to numbers submitted by Riyadh to Opec, the oil cartel, confirming the widely held view that Saudi Arabia’s production is heading higher.
The kingdom’s oil output had been 10.31m b/d in April, Riyadh told Opec."
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Emirates airline sees more opportunities to fly in Europe | Reuters
Emirates airline sees more opportunities to fly in Europe | Reuters:
"Emirates airline [EMIRA.UL] sees an opportunity to increase direct flights from Europe to cities other than its Dubai hub, but its chief executive said he is concerned about harming struggling European carriers.
Emirates also is actively considering a large purchase of Airbus (AIR.PA) A350 aircraft and Boeing (BA.N) 787s to replace older Boeing 777 widebody aircraft that will begin retiring in 2017.
"We're just concluding our performance assessments," of the Airbus (AIR.PA) and Boeing (BA.N) aircraft, Clark said in an interview following a speech in New York. He declined to say when the airline would place orders."
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"Emirates airline [EMIRA.UL] sees an opportunity to increase direct flights from Europe to cities other than its Dubai hub, but its chief executive said he is concerned about harming struggling European carriers.
Emirates also is actively considering a large purchase of Airbus (AIR.PA) A350 aircraft and Boeing (BA.N) 787s to replace older Boeing 777 widebody aircraft that will begin retiring in 2017.
"We're just concluding our performance assessments," of the Airbus (AIR.PA) and Boeing (BA.N) aircraft, Clark said in an interview following a speech in New York. He declined to say when the airline would place orders."
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MIDEAST STOCKS-Most Gulf markets rise after oil extends gains | Reuters
MIDEAST STOCKS-Most Gulf markets rise after oil extends gains | Reuters:
"Most stock markets in the Gulf rose on Wednesday after oil prices jumped for a second day in a row and Dubai led gains, lifted by speculative buying.
Brent crude rose above $66 per barrel after a report of falling U.S. inventories and signs that U.S. oil production growth was levelling off after several years of very sharp increases.
The main Saudi index climbed 0.5 percent as most stocks rose. Saudi Basic Industries (SABIC), the largest petrochemicals company in the kingdom, gained 1.0 percent. SABIC's earnings are sensitive to oil prices."
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"Most stock markets in the Gulf rose on Wednesday after oil prices jumped for a second day in a row and Dubai led gains, lifted by speculative buying.
Brent crude rose above $66 per barrel after a report of falling U.S. inventories and signs that U.S. oil production growth was levelling off after several years of very sharp increases.
The main Saudi index climbed 0.5 percent as most stocks rose. Saudi Basic Industries (SABIC), the largest petrochemicals company in the kingdom, gained 1.0 percent. SABIC's earnings are sensitive to oil prices."
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