Saudi firms cope with austerity but more pain lies ahead | GulfNews.com:
"Saudi Arabian companies are faring better in an era of austerity than many investors feared, but they face more pain in the coming months as gains from cost-cutting and efforts to improve efficiency become more difficult.
The world’s largest oil exporting country is in the grip of a protracted adjustment to low crude prices, which have caused a state budget deficit of nearly $100 billion and forced the government into spending cuts.
For decades, almost every corner of the economy has depended on lavish flows of petrodollars, so the austerity is bad news for Saudi corporate earnings."
'via Blog this'
Wednesday, 4 May 2016
Taqa denies selling its oil and gas assets | GulfNews.com
Taqa denies selling its oil and gas assets | GulfNews.com:
"Abu Dhabi National Energy Company (Taqa) said on Wednesday that it is not engaged in discussions with any entity to sell its oil and gas assets. The company did not give any further details in a statement on Abu Dhabi Stock Exchange.
Reuters reported on Sunday that Taqa was considering whether to sell its overseas oil and gas assets to another Abu Dhabi state-owned entity.
Taqa operates in 11 countries with assets in power generation, water desalination, oil and gas exploration and production, pipelines and gas storage."
'via Blog this'
"Abu Dhabi National Energy Company (Taqa) said on Wednesday that it is not engaged in discussions with any entity to sell its oil and gas assets. The company did not give any further details in a statement on Abu Dhabi Stock Exchange.
Reuters reported on Sunday that Taqa was considering whether to sell its overseas oil and gas assets to another Abu Dhabi state-owned entity.
Taqa operates in 11 countries with assets in power generation, water desalination, oil and gas exploration and production, pipelines and gas storage."
'via Blog this'
IEA’s Atkinson Says Brighter Times Are Ahead for Oil - Bloomberg
IEA’s Atkinson Says Brighter Times Are Ahead for Oil - Bloomberg:
"Neil Atkinson, of the International Energy Agency, and Bloomberg’s Javier Blas, discuss the outlook for oil and if the market will balance in 2017. They speak with Guy Johnson on Bloomberg Television’s "On The Move." (Source: Bloomberg)"
'via Blog this'
"Neil Atkinson, of the International Energy Agency, and Bloomberg’s Javier Blas, discuss the outlook for oil and if the market will balance in 2017. They speak with Guy Johnson on Bloomberg Television’s "On The Move." (Source: Bloomberg)"
'via Blog this'
Saudi Stock Exchange to Launch IPO - Bloomberg
Saudi Stock Exchange to Launch IPO - Bloomberg:
"Saudi Arabia’s stock exchange is poised to appoint banks to manage its initial public offering and will make an announcement within a few days, its chief executive officer said. The Tadawul Stock Exchange has carried out an “IPO-readiness exercise,” and consulted foreign investors about ways to structure the Saudi market to make it more accessible to them, Khalid Abdullah Al Hussan said in an interview on Tuesday at the Euromoney conference in Riyadh. Bloomberg's Desley Humphrey reports to "On the Move" host Guy Johnson."
'via Blog this'
"Saudi Arabia’s stock exchange is poised to appoint banks to manage its initial public offering and will make an announcement within a few days, its chief executive officer said. The Tadawul Stock Exchange has carried out an “IPO-readiness exercise,” and consulted foreign investors about ways to structure the Saudi market to make it more accessible to them, Khalid Abdullah Al Hussan said in an interview on Tuesday at the Euromoney conference in Riyadh. Bloomberg's Desley Humphrey reports to "On the Move" host Guy Johnson."
'via Blog this'
Gulf Capital Buys 100% of Multibrands - Bloomberg
Gulf Capital Buys 100% of Multibrands - Bloomberg:
"Karim El Solh, chief executive officer of Gulf Capital, discusses the deal between Gulf Capital and Multibrands, considered one of the biggest private equity deals in the food and beverage space. He speaks to Manus Cranny on "Bloomberg Markets Middle East." (Source: Bloomberg)"
'via Blog this'
"Karim El Solh, chief executive officer of Gulf Capital, discusses the deal between Gulf Capital and Multibrands, considered one of the biggest private equity deals in the food and beverage space. He speaks to Manus Cranny on "Bloomberg Markets Middle East." (Source: Bloomberg)"
'via Blog this'
MIDEAST STOCKS-Bourses falls but blue chips rebound lifts Abu Dhabi | Reuters
MIDEAST STOCKS-Bourses falls but blue chips rebound lifts Abu Dhabi | Reuters:
"Most stock markets in the Middle East followed global bourses lower on Wednesday because of weak oil prices and concern about lacklustre global growth, but rebounding blue chips lifted Abu Dhabi.
In Saudi Arabia, the main index fell 0.8 percent in a broad-based decline. Many stocks exposed to consumer demand were weak, with retailer Fawaz Alhokair sliding 1.3 percent, but low-cost supermarket chain Alothaim - which could attract more customers during an economic slowdown - rose 2.4 percent.
Dubai's stock market fell 0.5 percent to 3,308 point but closed 52 points off its intra-day low. It has lost 7.7 percent from a five-month peak hit on April 24."
'via Blog this'
"Most stock markets in the Middle East followed global bourses lower on Wednesday because of weak oil prices and concern about lacklustre global growth, but rebounding blue chips lifted Abu Dhabi.
In Saudi Arabia, the main index fell 0.8 percent in a broad-based decline. Many stocks exposed to consumer demand were weak, with retailer Fawaz Alhokair sliding 1.3 percent, but low-cost supermarket chain Alothaim - which could attract more customers during an economic slowdown - rose 2.4 percent.
Dubai's stock market fell 0.5 percent to 3,308 point but closed 52 points off its intra-day low. It has lost 7.7 percent from a five-month peak hit on April 24."
'via Blog this'
Iran tries to end its isolation but so much stands in the way - FT.com
Iran tries to end its isolation but so much stands in the way - FT.com:
"The run-off in Iran’s parliamentary elections seems to have given Hassan Rouhani, the centrist president, a workable parliamentary majority if his followers combine with reformists and independent conservatives against Islamist hardliners. The outcome also appears to endorse last year’s deal between Iran and world powers, which traded economic sanctions relief for restraints on Tehran’s nuclear programme.
The president should now be better placed to enact some of the economic reforms to attract the investment Iran desperately needs. Ultimate power, however, still rests with Ayatollah Ali Khamenei, the supreme leader, and theocratic institutions that answer to him, including the Islamic Revolutionary Guard Corps and the judiciary."
'via Blog this'
"The run-off in Iran’s parliamentary elections seems to have given Hassan Rouhani, the centrist president, a workable parliamentary majority if his followers combine with reformists and independent conservatives against Islamist hardliners. The outcome also appears to endorse last year’s deal between Iran and world powers, which traded economic sanctions relief for restraints on Tehran’s nuclear programme.
The president should now be better placed to enact some of the economic reforms to attract the investment Iran desperately needs. Ultimate power, however, still rests with Ayatollah Ali Khamenei, the supreme leader, and theocratic institutions that answer to him, including the Islamic Revolutionary Guard Corps and the judiciary."
'via Blog this'
Saudi opens door to short sellers to lure investors - FT.com
Saudi opens door to short sellers to lure investors - FT.com:
"Saudi Arabia has announced a series of market reforms aiming to make its $400bn bourse more attractive to foreign investors ahead of a much-anticipated listing of state oil company Saudi Aramco.
The Capital Market Authority, the market regulator, plans by the first half of next year to implement the new regulations, including allowing securities lending and covered short selling, a first for the markets of the Gulf states. Limits on qualified foreign investors in companies listed on the bourse, known as Tadawul, will also be lifted."
'via Blog this'
"Saudi Arabia has announced a series of market reforms aiming to make its $400bn bourse more attractive to foreign investors ahead of a much-anticipated listing of state oil company Saudi Aramco.
The Capital Market Authority, the market regulator, plans by the first half of next year to implement the new regulations, including allowing securities lending and covered short selling, a first for the markets of the Gulf states. Limits on qualified foreign investors in companies listed on the bourse, known as Tadawul, will also be lifted."
'via Blog this'
Abu Dhabi Indefinitely Delays LNG-Import Plant - Bloomberg
Abu Dhabi Indefinitely Delays LNG-Import Plant - Bloomberg:
"Abu Dhabi is putting the construction of an onshore liquid natural gas import plant on ice… permanently. Bloomberg's Anthony DiPaola reports on "Bloomberg Markets Middle East." (Source: Bloomberg)"
'via Blog this'
"Abu Dhabi is putting the construction of an onshore liquid natural gas import plant on ice… permanently. Bloomberg's Anthony DiPaola reports on "Bloomberg Markets Middle East." (Source: Bloomberg)"
'via Blog this'
MIDEAST STOCKS-Gulf markets retreat in early trade | Daily Mail Online
MIDEAST STOCKS-Gulf markets retreat in early trade | Daily Mail Online:
"Stock markets in the Gulf followed international bourses lower early on Wednesday after oil prices slipped again overnight and concern about lacklustre global growth weighed on investors.
Riyadh's index shed 0.2 percent in the first 45 minutes of trade in modest volume. Shares in the retail and petrochemical sectors were the main laggards.
Jarir Marketing and Fawaz Alhokair, two of the largest retailers in the kingdom, dropped 1.3 and 0.8 percent respectively. But low-cost supermarket chain Alothaim , which could attract more customers during an economic slowdown, rose 1.8 percent."
'via Blog this'
"Stock markets in the Gulf followed international bourses lower early on Wednesday after oil prices slipped again overnight and concern about lacklustre global growth weighed on investors.
Riyadh's index shed 0.2 percent in the first 45 minutes of trade in modest volume. Shares in the retail and petrochemical sectors were the main laggards.
Jarir Marketing and Fawaz Alhokair, two of the largest retailers in the kingdom, dropped 1.3 and 0.8 percent respectively. But low-cost supermarket chain Alothaim , which could attract more customers during an economic slowdown, rose 1.8 percent."
'via Blog this'
Subscribe to:
Posts (Atom)