Abu Dhabi GREs may look abroad for funding as credit tightens at home | The National:
"A number of Abu Dhabi government-related entities (GREs) are said to be exploring finance options from international lenders as sources of funding at home become more expensive.
Corporate borrowing costs are increasing as deposits in banks dwindle and interest rates rise amid the steepest drop in oil since 2008.
The state investment firms Aabar and Mubadala, as well as the telecoms operator Etisalat, are said to each be seeking between US$2 billion and $2.5bn in loans, people familiar with the situation told The National yesterday."
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Tuesday, 26 January 2016
Etihad Rail suspends progress on stage two network through Abu Dhabi | The National
Etihad Rail suspends progress on stage two network through Abu Dhabi | The National:
"Etihad Rail, the developer and operator of the UAE’s national rail network, yesterday confirmed it has suspended the tendering process for the second stage of the project.
The announcement comes a week after it said it would cut jobs, citing operations efficiencies.
“The company has suspended the current stage two tender process while it reviews the most appropriate options for the timing and delivery of this phase of the project,” Etihad Rail said."
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"Etihad Rail, the developer and operator of the UAE’s national rail network, yesterday confirmed it has suspended the tendering process for the second stage of the project.
The announcement comes a week after it said it would cut jobs, citing operations efficiencies.
“The company has suspended the current stage two tender process while it reviews the most appropriate options for the timing and delivery of this phase of the project,” Etihad Rail said."
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Canada to lift Tehran sanctions, allow Bombardier to export to Iran | Reuters
Canada to lift Tehran sanctions, allow Bombardier to export to Iran | Reuters:
"Canada confirmed for the first time on Tuesday that it plans to lift its sanctions on Tehran and said that if Airbus is allowed to sell to Iran, then its aircraft maker Bombardier Inc should be allowed to export there as well.
"If Airbus is able to do it, why (will) Bombardier not be able to do it? In which way (is it) helping Canada, or the Iranian people, or Israel, or anyone, that Canada is hurting its own industry?" Dion said in an exchange with reporters.
Asked specifically if Bombardier would be allowed to do business with Iran as soon as sanctions are lifted, Dion said: "Legitimate business, certainly.""
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"Canada confirmed for the first time on Tuesday that it plans to lift its sanctions on Tehran and said that if Airbus is allowed to sell to Iran, then its aircraft maker Bombardier Inc should be allowed to export there as well.
"If Airbus is able to do it, why (will) Bombardier not be able to do it? In which way (is it) helping Canada, or the Iranian people, or Israel, or anyone, that Canada is hurting its own industry?" Dion said in an exchange with reporters.
Asked specifically if Bombardier would be allowed to do business with Iran as soon as sanctions are lifted, Dion said: "Legitimate business, certainly.""
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MIDEAST STOCKS-Saudi, Egypt edge up as oil rebounds; other Gulf mkts slip | Reuters
MIDEAST STOCKS-Saudi, Egypt edge up as oil rebounds; other Gulf mkts slip | Reuters:
"Bourses in Saudi Arabia and Egypt recovered earlier losses and edged higher on Tuesday as crude prices bounced back, while other major Gulf stock markets slid.
Brent climbed 82 cents over $30 a barrel at 1218 GMT on Tuesday, lifted by hopes that OPEC and non-OPEC producers may be edging closer to a deal to tackle one of the biggest supply gluts in decades.
Traders and managers in the region believe that if Brent prices break below $30 - the new psychological barrier most investors are eyeing - then bourses will remain vulnerable to further declines."
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"Bourses in Saudi Arabia and Egypt recovered earlier losses and edged higher on Tuesday as crude prices bounced back, while other major Gulf stock markets slid.
Brent climbed 82 cents over $30 a barrel at 1218 GMT on Tuesday, lifted by hopes that OPEC and non-OPEC producers may be edging closer to a deal to tackle one of the biggest supply gluts in decades.
Traders and managers in the region believe that if Brent prices break below $30 - the new psychological barrier most investors are eyeing - then bourses will remain vulnerable to further declines."
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Stock markets dip as oil falls towards $30 - FT.com
Stock markets dip as oil falls towards $30 - FT.com:
"Stock markets are in retreat as a renewed slide in oil prices towards $30 a barrel rattles investors and encourages buying of gold, Treasuries and the yen.
The pan-European Stoxx 600 is down 0.9 per cent after the FTSE Asia-Pacific index shed 1.6 per cent. China’s Shanghai Composite lost 6.4 per cent and US index futures suggest the S&P 500 will lose 12 points to 1,865.
Nervousness over corporate earnings is pressing Wall Street’s benchmark — investors are particularly wary of what Apple will reveal after the closing bell on Tuesday."
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"Stock markets are in retreat as a renewed slide in oil prices towards $30 a barrel rattles investors and encourages buying of gold, Treasuries and the yen.
The pan-European Stoxx 600 is down 0.9 per cent after the FTSE Asia-Pacific index shed 1.6 per cent. China’s Shanghai Composite lost 6.4 per cent and US index futures suggest the S&P 500 will lose 12 points to 1,865.
Nervousness over corporate earnings is pressing Wall Street’s benchmark — investors are particularly wary of what Apple will reveal after the closing bell on Tuesday."
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Airbus Delays Causing ‘Large Financial Impact’ for Qatar - Bloomberg Business
Airbus Delays Causing ‘Large Financial Impact’ for Qatar - Bloomberg Business:
"Qatar Airways Chief Executive Officer Akbar Al Baker told Bloomberg his company is expanding services to Iran at the same time as adding ultra-long haul routes with new flights to Chile’s capital Santiago and Auckland in New Zealand using Boeing Co.’s 777-LR aircraft. The Gulf carrier was scheduled to take delivery of the first Airbus A320neo by the end of last year but has faced delays due to shortcomings of the engines, Al Baker said, citing issues with performance in the region’s high temperatures. The airline will also deploy Airbus A350s on more routes this year including Phuket, Marrakesh and Lisbon, Al Baker said."
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"Qatar Airways Chief Executive Officer Akbar Al Baker told Bloomberg his company is expanding services to Iran at the same time as adding ultra-long haul routes with new flights to Chile’s capital Santiago and Auckland in New Zealand using Boeing Co.’s 777-LR aircraft. The Gulf carrier was scheduled to take delivery of the first Airbus A320neo by the end of last year but has faced delays due to shortcomings of the engines, Al Baker said, citing issues with performance in the region’s high temperatures. The airline will also deploy Airbus A350s on more routes this year including Phuket, Marrakesh and Lisbon, Al Baker said."
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Probe clears Malaysian PM Najib, says $681 million transfer a Saudi gift | Reuters
Probe clears Malaysian PM Najib, says $681 million transfer a Saudi gift | Reuters:
"Malaysia's attorney-general cleared Prime Minister Najib Razak of any criminal offense or corruption on Tuesday, and said a controversial transfer of $681 million into his personal bank account was a gift from Saudi Arabia's royal family.
The leader of the main opposition party denounced the findings, which came after months of pressure on Najib to resign over the scandal, saying the appointment of the attorney-general by the prime minister himself suggested a conflict of interest.
The involvement of the Saudi royal family is an unexpected twist in the saga over the mysterious funds transfer and the troubles of indebted state fund 1Malaysia Development Berhad (1MDB), whose advisory board Najib chairs."
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"Malaysia's attorney-general cleared Prime Minister Najib Razak of any criminal offense or corruption on Tuesday, and said a controversial transfer of $681 million into his personal bank account was a gift from Saudi Arabia's royal family.
The leader of the main opposition party denounced the findings, which came after months of pressure on Najib to resign over the scandal, saying the appointment of the attorney-general by the prime minister himself suggested a conflict of interest.
The involvement of the Saudi royal family is an unexpected twist in the saga over the mysterious funds transfer and the troubles of indebted state fund 1Malaysia Development Berhad (1MDB), whose advisory board Najib chairs."
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MIDEAST STOCKS-Saudi, Egypt fall as oil, global bourses decline | Reuters
MIDEAST STOCKS-Saudi, Egypt fall as oil, global bourses decline | Reuters:
"Bourses in Saudi Arabia and Egypt fell in early trade on Tuesday as investors cashed out following a resumption in declines of global stocks and worries over further weakness in oil markets.
Brent broke below $30 a barrel in Asian trade, as fresh worries about oversupply from top producers Saudi Arabia and Iraq spooked the market.
In Riyadh the stock index fell 1.6 percent in the first half hour of trade, with petrochemical stocks weighing on the bourse."
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"Bourses in Saudi Arabia and Egypt fell in early trade on Tuesday as investors cashed out following a resumption in declines of global stocks and worries over further weakness in oil markets.
Brent broke below $30 a barrel in Asian trade, as fresh worries about oversupply from top producers Saudi Arabia and Iraq spooked the market.
In Riyadh the stock index fell 1.6 percent in the first half hour of trade, with petrochemical stocks weighing on the bourse."
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MIDEAST STOCKS-UAE, Qatar trade lower as oil turns south | Reuters
MIDEAST STOCKS-UAE, Qatar trade lower as oil turns south | Reuters:
"Stock markets in the United Arab Emirates and Qatar fell in early trade on Tuesday, following Asian shares lower as oil prices broke below the $30 a barrel mark.
Brent fell 3.0 percent to $29.58 a barrel in Asian trade, as fresh worries about oversupply from top producers Saudi Arabia and Iraq spooked the market.
Japan's Nikkei fell 2.3 percent while Hong Kong's Hang Seng Index fell 1.9 percent, with MSCI's broadest index of Asia-Pacific shares outside Japan falling 1.1 percent after two days of gains since late last week."
'via Blog this'
"Stock markets in the United Arab Emirates and Qatar fell in early trade on Tuesday, following Asian shares lower as oil prices broke below the $30 a barrel mark.
Brent fell 3.0 percent to $29.58 a barrel in Asian trade, as fresh worries about oversupply from top producers Saudi Arabia and Iraq spooked the market.
Japan's Nikkei fell 2.3 percent while Hong Kong's Hang Seng Index fell 1.9 percent, with MSCI's broadest index of Asia-Pacific shares outside Japan falling 1.1 percent after two days of gains since late last week."
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