After Airbus, Iran edges toward historic Boeing deal | Reuters:
"Iranair is discussing a historic aircraft purchase with Boeing, potentially matching an order for over 100 jets from Airbus, but obstacles to both deals need to be resolved so that last year's accord to lift sanctions can be honored, its chairman said.
The Iranian flag carrier is also talking to Boeing about providing support for its aging fleet following the deal between Tehran and six major powers to ease economic sanctions in return for curbs on Iran's nuclear activities.
"Meetings and negotiations are going on. We hope that in the future we can reach an understanding with each other," Iranair Chairman Farhad Parvaresh told Reuters in an interview."
'via Blog this'
Monday, 6 June 2016
MIDEAST STOCKS-Saudi shares rise before reform details; Gulf mixed | Reuters
MIDEAST STOCKS-Saudi shares rise before reform details; Gulf mixed | Reuters:
"Saudi Arabia's stock market rose on Monday before the kingdom announces details of its economic reform plan. Other Gulf markets were mixed as the start of the religious holiday of Ramadan thinned trading volumes.
The National Transformation Plan, part of reforms intended to make the Saudi economy less dependent on oil revenue, was to be presented to the cabinet for approval late on Monday. Details were to be disclosed in daily news conferences with ministers starting on Monday evening.
It was not clear which economic policies would be discussed in the news conferences, but the broad reform plan is known to include subsidy cuts, tax increases, sales of state assets, a government efficiency drive and efforts to spur private-sector investment."
'via Blog this'
"Saudi Arabia's stock market rose on Monday before the kingdom announces details of its economic reform plan. Other Gulf markets were mixed as the start of the religious holiday of Ramadan thinned trading volumes.
The National Transformation Plan, part of reforms intended to make the Saudi economy less dependent on oil revenue, was to be presented to the cabinet for approval late on Monday. Details were to be disclosed in daily news conferences with ministers starting on Monday evening.
It was not clear which economic policies would be discussed in the news conferences, but the broad reform plan is known to include subsidy cuts, tax increases, sales of state assets, a government efficiency drive and efforts to spur private-sector investment."
'via Blog this'
Full Show: Bloomberg Markets Middle East (06/06) - Bloomberg
Full Show: Bloomberg Markets Middle East (06/06) - Bloomberg:
"Full episode of "Bloomberg Markets Middle East." Guests include: Ali Majed Al Mansoori, chairman of the Abu Dhabi Department of Economic Development and Tim Fox, group head of research and chief economist at Emirates NBD. (Source: Bloomberg)"
'via Blog this'
"Full episode of "Bloomberg Markets Middle East." Guests include: Ali Majed Al Mansoori, chairman of the Abu Dhabi Department of Economic Development and Tim Fox, group head of research and chief economist at Emirates NBD. (Source: Bloomberg)"
'via Blog this'
Abu Dhabi's Al Mansoori: Worst Is Over for Abu Dhabi - Bloomberg
Abu Dhabi's Al Mansoori: Worst Is Over for Abu Dhabi - Bloomberg:
"Ali Majed Al Mansoori, chairman of the Abu Dhabi Department of Economic Development, discusses the UAE's growth targets, the price of oil and the fiscal challenges of the UAE. He speaks exclusively to Manus Cranny on "Bloomberg Markets Middle East." (Source: Bloomberg)"
'via Blog this'
"Ali Majed Al Mansoori, chairman of the Abu Dhabi Department of Economic Development, discusses the UAE's growth targets, the price of oil and the fiscal challenges of the UAE. He speaks exclusively to Manus Cranny on "Bloomberg Markets Middle East." (Source: Bloomberg)"
'via Blog this'
MIDEAST STOCKS-Saudi bourse moves little before reform announcement | Reuters
MIDEAST STOCKS-Saudi bourse moves little before reform announcement | Reuters:
"Saudi Arabia's stock market moved little in early trade on Monday before the announcement of details of the kingdom's economic reform plan, while most other Gulf bourses edged down.
The National Transformation Plan (NTP), a key part of efforts to make the Saudi economy less dependent on oil revenue, will be put before the cabinet for approval on Monday, a senior Saudi source told Reuters.
Details of the NTP will be disclosed in daily news conferences with ministers starting on Monday evening. Although it is not clear exactly which economic steps will feature in the news conferences, the wider reform plan includes subsidy cuts, tax rises, sales of state assets, a government efficiency drive and efforts to spur private sector investment.
"
'via Blog this'
"Saudi Arabia's stock market moved little in early trade on Monday before the announcement of details of the kingdom's economic reform plan, while most other Gulf bourses edged down.
The National Transformation Plan (NTP), a key part of efforts to make the Saudi economy less dependent on oil revenue, will be put before the cabinet for approval on Monday, a senior Saudi source told Reuters.
Details of the NTP will be disclosed in daily news conferences with ministers starting on Monday evening. Although it is not clear exactly which economic steps will feature in the news conferences, the wider reform plan includes subsidy cuts, tax rises, sales of state assets, a government efficiency drive and efforts to spur private sector investment.
"
'via Blog this'
Saudi’s May PMI at six month high | GulfNews.com
Saudi’s May PMI at six month high | GulfNews.com:
"Saudi Arabia Purchasing Managers’ Index (PMI) rose to 54.8 in May from 54.2 in April, the highest reading since November 2015. Both output and new orders grew at a strong pace last month, with the sub-indices at 60.6 and 58.1 respectively.
Domestic demand has been the main driver of order growth, with respondents citing new project start-ups and the introduction of new products as contributing to new business last month. New export orders declined for the second month in a row, reflecting soft external demand. However, the decline in export orders was marginal in May.
Encouragingly, employment growth picked up slightly in May, but remains relatively modest with this subindex at just 510, below the average for the first quarter of 2016. Purchasing activity gained momentum last month, with the quantity of purchases index rising to 57.4 and the stocks of purchases (inventories) index rising to 53.2. This likely reflects both increased orders in May as well as expectations of improved future demand."
'via Blog this'
"Saudi Arabia Purchasing Managers’ Index (PMI) rose to 54.8 in May from 54.2 in April, the highest reading since November 2015. Both output and new orders grew at a strong pace last month, with the sub-indices at 60.6 and 58.1 respectively.
Domestic demand has been the main driver of order growth, with respondents citing new project start-ups and the introduction of new products as contributing to new business last month. New export orders declined for the second month in a row, reflecting soft external demand. However, the decline in export orders was marginal in May.
Encouragingly, employment growth picked up slightly in May, but remains relatively modest with this subindex at just 510, below the average for the first quarter of 2016. Purchasing activity gained momentum last month, with the quantity of purchases index rising to 57.4 and the stocks of purchases (inventories) index rising to 53.2. This likely reflects both increased orders in May as well as expectations of improved future demand."
'via Blog this'
Al Habtoor on Spending Millions on Polo - Bloomberg
Al Habtoor on Spending Millions on Polo - Bloomberg:
"Despite being a sport for the rich and famous, polo is growing and not just in its traditional home of the United Kingdom. Ahead of Europe's biggest tournament, Polo in the Park, Al Habtoor Group CEO Mohammed Al Habtoor, the son of billionaire Khalaf Al Habtoor, spoke to Bloomberg's Mark Barton about spending millions playing the sport he loves and his big plans to grow it further in the Middle East. (Source: Bloomberg)"
'via Blog this'
"Despite being a sport for the rich and famous, polo is growing and not just in its traditional home of the United Kingdom. Ahead of Europe's biggest tournament, Polo in the Park, Al Habtoor Group CEO Mohammed Al Habtoor, the son of billionaire Khalaf Al Habtoor, spoke to Bloomberg's Mark Barton about spending millions playing the sport he loves and his big plans to grow it further in the Middle East. (Source: Bloomberg)"
'via Blog this'
Al Habtoor not taking ‘company public in foreseeable future’ | GulfNews.com
Al Habtoor not taking ‘company public in foreseeable future’ | GulfNews.com:
"UAE-based Al Habtoor Group said on Sunday it does not “anticipate taking the company public in the foreseeable future,” even as it has been considering for an Initial Public Offering (IPO) for a number of years.
“We continually review our options with regards to our future strategy. We have been considering an IPO for a number of years, and this situation remains unchanged,” Noura Badawi, a spokeswoman at Al Habtoor said in an emailed statement, adding “we constantly update our records, as part of this ongoing process.”
However, in an interview to Bloomberg TV, Mohammad Al Habtoor, the company’s vice-chairman and chief executive officer, said they are closer to an IPO. The company, which has been trying to list on the primary market since 2000, is planning to make more acquisitions as it prepares to expand its hospitality portfolio.
"
'via Blog this'
"UAE-based Al Habtoor Group said on Sunday it does not “anticipate taking the company public in the foreseeable future,” even as it has been considering for an Initial Public Offering (IPO) for a number of years.
“We continually review our options with regards to our future strategy. We have been considering an IPO for a number of years, and this situation remains unchanged,” Noura Badawi, a spokeswoman at Al Habtoor said in an emailed statement, adding “we constantly update our records, as part of this ongoing process.”
However, in an interview to Bloomberg TV, Mohammad Al Habtoor, the company’s vice-chairman and chief executive officer, said they are closer to an IPO. The company, which has been trying to list on the primary market since 2000, is planning to make more acquisitions as it prepares to expand its hospitality portfolio.
"
'via Blog this'
UAE’s non-oil private sector output surges to 8-month high | GulfNews.com
UAE’s non-oil private sector output surges to 8-month high | GulfNews.com:
"The UAE’s non-oil private sector output surged to an eight-month high last month, according to the Emirates NBD Purchasing Managers’ Index (PMI).
The May PMI rose to 54 from 52.8 in April, the second highest reading so far this year. “The main driver behind the improvement in business conditions last month was a strong growth in output, with this subindex rising to 59.9 — the highest reading since September 2015,” said Khatija Haque, Head of MENA Research at Emirates NBD.
Private sector activity increased at the fastest pace in eight months during May, helped by a pickup in new business growth. However, data pointed to areas of underlying fragility, as both employment and input buying rose only slightly. The expansion of the latter was the least marked since September 2011. Cost pressures intensified but remained historically subdued, while output prices fell for the seventh month running."
'via Blog this'
"The UAE’s non-oil private sector output surged to an eight-month high last month, according to the Emirates NBD Purchasing Managers’ Index (PMI).
The May PMI rose to 54 from 52.8 in April, the second highest reading so far this year. “The main driver behind the improvement in business conditions last month was a strong growth in output, with this subindex rising to 59.9 — the highest reading since September 2015,” said Khatija Haque, Head of MENA Research at Emirates NBD.
Private sector activity increased at the fastest pace in eight months during May, helped by a pickup in new business growth. However, data pointed to areas of underlying fragility, as both employment and input buying rose only slightly. The expansion of the latter was the least marked since September 2011. Cost pressures intensified but remained historically subdued, while output prices fell for the seventh month running."
'via Blog this'
Making Sense of the Markets in the Middle East - Bloomberg
Making Sense of the Markets in the Middle East - Bloomberg:
"Mark Diab, chief executive officer at Man Investments Middle East, and Bloomberg's Tracy Alloway discuss growth in the Middle East, how a Fed rate hike will impact the region and the possibility of a riyal peg getting undone. They speak to Manus Cranny on "Bloomberg Markets Middle East." (Source: Bloomberg)"
'via Blog this'
"Mark Diab, chief executive officer at Man Investments Middle East, and Bloomberg's Tracy Alloway discuss growth in the Middle East, how a Fed rate hike will impact the region and the possibility of a riyal peg getting undone. They speak to Manus Cranny on "Bloomberg Markets Middle East." (Source: Bloomberg)"
'via Blog this'
JBC's Benigni: OPEC's Strategy Is Working - Bloomberg
JBC's Benigni: OPEC's Strategy Is Working - Bloomberg:
"Johannes Benigni, chairman and founder of JBC, discusses the outcome of the OPEC meeting and what's ahead for oil. He speaks to Manus Cranny on "Bloomberg Markets Middle East." (Source: Bloomberg)"
'via Blog this'
"Johannes Benigni, chairman and founder of JBC, discusses the outcome of the OPEC meeting and what's ahead for oil. He speaks to Manus Cranny on "Bloomberg Markets Middle East." (Source: Bloomberg)"
'via Blog this'
Saudi central bank bans use of options against riyal: executive | Reuters
Saudi central bank bans use of options against riyal: executive | Reuters:
"Saudi Arabia's central bank has told banks it is banning the use of options and other derivatives to speculate against the riyal, in a new effort to reduce pressure on its currency peg, a senior executive at a Saudi bank told Reuters on Sunday.
The Saudi Arabian Monetary Agency "wants to make sure that there is no snowball effect against the riyal in the forwards markets", the executive said, declining to be named because of commercial sensitivities.
"So now banks in the country are banned from accepting any options against the riyal." Non-speculative trade in the riyal forwards market is not forbidden, the executive added."
'via Blog this'
"Saudi Arabia's central bank has told banks it is banning the use of options and other derivatives to speculate against the riyal, in a new effort to reduce pressure on its currency peg, a senior executive at a Saudi bank told Reuters on Sunday.
The Saudi Arabian Monetary Agency "wants to make sure that there is no snowball effect against the riyal in the forwards markets", the executive said, declining to be named because of commercial sensitivities.
"So now banks in the country are banned from accepting any options against the riyal." Non-speculative trade in the riyal forwards market is not forbidden, the executive added."
'via Blog this'
Exclusive: Saudi reform plan approved by top economic council | Reuters
Exclusive: Saudi reform plan approved by top economic council | Reuters:
"Saudi Arabia's National Transformation Plan, a pivotal element of the "Vision 2030" reforms announced in April by Deputy Crown Prince Mohammed bin Salman, will be put before the cabinet for approval on Monday, a senior Saudi source told Reuters.
The plan is expected to flesh out sector-by-sector details of the implementation of Prince Mohammed's program, which is intended to restructure the kingdom's entire economy and make it less dependent on oil revenue.
"The Council of Economic and Development Affairs has approved the final draft of the National Transformation Plan, which is one of the plans adopted and part of the 2030 vision, which was launched and adopted by the Saudi deputy crown prince, president of CEDA," the source said."
'via Blog this'
"Saudi Arabia's National Transformation Plan, a pivotal element of the "Vision 2030" reforms announced in April by Deputy Crown Prince Mohammed bin Salman, will be put before the cabinet for approval on Monday, a senior Saudi source told Reuters.
The plan is expected to flesh out sector-by-sector details of the implementation of Prince Mohammed's program, which is intended to restructure the kingdom's entire economy and make it less dependent on oil revenue.
"The Council of Economic and Development Affairs has approved the final draft of the National Transformation Plan, which is one of the plans adopted and part of the 2030 vision, which was launched and adopted by the Saudi deputy crown prince, president of CEDA," the source said."
'via Blog this'
MIDEAST STOCKS-Saudi shares fall before reform news; Zain up on refinancing | Reuters
MIDEAST STOCKS-Saudi shares fall before reform news; Zain up on refinancing | Reuters:
"Saudi Arabia's stock market fell on Sunday the details of the kingdom's economic reforms are announced, but telecommunications operator Zain Saudi soared in response to a loan refinancing. Other regional markets were mixed.
The Saudi index dropped sharply late in the session and closed 1.2 percent lower.
The Saudi government is expected to announced on Monday details of economic reforms that it originally outlined in April. That may include targets in a drive to make government more efficient, efforts to involve the private sector in development, and possibly fiscal steps to curb a budget deficit caused by low oil prices."
'via Blog this'
"Saudi Arabia's stock market fell on Sunday the details of the kingdom's economic reforms are announced, but telecommunications operator Zain Saudi soared in response to a loan refinancing. Other regional markets were mixed.
The Saudi index dropped sharply late in the session and closed 1.2 percent lower.
The Saudi government is expected to announced on Monday details of economic reforms that it originally outlined in April. That may include targets in a drive to make government more efficient, efforts to involve the private sector in development, and possibly fiscal steps to curb a budget deficit caused by low oil prices."
'via Blog this'
Subscribe to:
Posts (Atom)