Full Show: Bloomberg Markets Middle East (06/14) - Bloomberg:
"Bloomberg Markets Middle East hosted by Manus Cranny and Rishaad Salamat. Guests include Paul Haswell, partner at Pinsent Masons and Jahangir Aka, managing director of MENA at Neuberger Berman. (Source: Bloomberg)"
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Tuesday, 14 June 2016
MIDEAST STOCKS-Gulf firms but volumes low as investors await MSCI | Reuters
MIDEAST STOCKS-Gulf firms but volumes low as investors await MSCI | Reuters:
"Gulf stock markets rose on Tuesday but many investors stood on the sidelines before MSCI's decision later in the day on whether it would consider Saudi Arabia for inclusion in its emerging markets index.
International index compiler MSCI is to announce after the close on Tuesday whether it will put Saudi Arabia on review for possible inclusion as early as mid-2017.
Inclusion would bring billions of dollars of passive foreign funds into the market, but fund managers are split on whether Saudi Arabia is likely to be put on review this year."
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"Gulf stock markets rose on Tuesday but many investors stood on the sidelines before MSCI's decision later in the day on whether it would consider Saudi Arabia for inclusion in its emerging markets index.
International index compiler MSCI is to announce after the close on Tuesday whether it will put Saudi Arabia on review for possible inclusion as early as mid-2017.
Inclusion would bring billions of dollars of passive foreign funds into the market, but fund managers are split on whether Saudi Arabia is likely to be put on review this year."
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MIDEAST STOCKS-Gulf edges up in early trade but volumes small | Reuters
MIDEAST STOCKS-Gulf edges up in early trade but volumes small | Reuters:
"Gulf stock markets rose in early trade on Tuesday but many investors stood on the sidelines before MSCI's decision later on whether it will consider Saudi Arabia for inclusion in its emerging markets index.
Riyadh's index edged up 0.1 percent after an hour of trade, with Saudi Basic Industries adding 0.6 percent.
While many institutional investors and portfolio managers are staying clear of the market because of uncertainties such as the June 23 vote on whether Britain will leave the European Union, Saudi retail investors bought small to mid-sized shares. The insurance sub-index added 0.7 percent.
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"Gulf stock markets rose in early trade on Tuesday but many investors stood on the sidelines before MSCI's decision later on whether it will consider Saudi Arabia for inclusion in its emerging markets index.
Riyadh's index edged up 0.1 percent after an hour of trade, with Saudi Basic Industries adding 0.6 percent.
While many institutional investors and portfolio managers are staying clear of the market because of uncertainties such as the June 23 vote on whether Britain will leave the European Union, Saudi retail investors bought small to mid-sized shares. The insurance sub-index added 0.7 percent.
"
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IEA sees global oil market returning to surplus in early 2017 | Reuters
IEA sees global oil market returning to surplus in early 2017 | Reuters:
"Oil supply and demand will balance in the second half of 2016 after a series of unplanned production outages, but the market is expected to tilt into surplus in the first half of next year, the International Energy Agency said on Tuesday.
The agency said demand growth in 2017 is likely to be flat at around 1.3 million barrels per day (bpd), the same level at which it estimates growth for this year, having revised up its May 2016 forecast of 1.2 million bpd.
"Again, on the planning assumption that OPEC oil production grows modestly in 2017, we expect to see global oil stocks build slightly in the first half of 2017 before falling slightly more in the second half of 2017. For the year as a whole, there will be a very small stock draw of 0.1 million bpd," the IEA said in its monthly report.
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"Oil supply and demand will balance in the second half of 2016 after a series of unplanned production outages, but the market is expected to tilt into surplus in the first half of next year, the International Energy Agency said on Tuesday.
The agency said demand growth in 2017 is likely to be flat at around 1.3 million barrels per day (bpd), the same level at which it estimates growth for this year, having revised up its May 2016 forecast of 1.2 million bpd.
"Again, on the planning assumption that OPEC oil production grows modestly in 2017, we expect to see global oil stocks build slightly in the first half of 2017 before falling slightly more in the second half of 2017. For the year as a whole, there will be a very small stock draw of 0.1 million bpd," the IEA said in its monthly report.
"
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UAE's IPIC takes Malaysia fund dispute to London court, seeks $6.5 billion | Reuters
UAE's IPIC takes Malaysia fund dispute to London court, seeks $6.5 billion | Reuters:
"Abu Dhabi's state-owned International Petroleum Investment Co (IPIC) asked a London court to arbitrate in a dispute with Malaysian state fund 1MDB, in which it is claiming about $6.5 billion, IPIC said on Tuesday.
The submission to the London Court of International Arbitration alleges that 1MDB and Malaysia's finance ministry failed to perform their obligations under a debt restructuring agreement involving the companies last June.
Malaysia's finance ministry dissolved 1MDB's board of advisers and took over its remaining assets last month. The fund is the subject of money-laundering investigations in at least six countries."
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"Abu Dhabi's state-owned International Petroleum Investment Co (IPIC) asked a London court to arbitrate in a dispute with Malaysian state fund 1MDB, in which it is claiming about $6.5 billion, IPIC said on Tuesday.
The submission to the London Court of International Arbitration alleges that 1MDB and Malaysia's finance ministry failed to perform their obligations under a debt restructuring agreement involving the companies last June.
Malaysia's finance ministry dissolved 1MDB's board of advisers and took over its remaining assets last month. The fund is the subject of money-laundering investigations in at least six countries."
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Saudi Markets: Are Stocks Poised for a Rally? - Bloomberg
Saudi Markets: Are Stocks Poised for a Rally? - Bloomberg:
"Saudi Arabian stocks may be due a rally as more than 40% of the Tadawul All Shares Index's 172 members have buy signals. Bloomberg's Dana El Baltaji reports on "Bloomberg Markets Middle East." (Source: Bloomberg)"
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"Saudi Arabian stocks may be due a rally as more than 40% of the Tadawul All Shares Index's 172 members have buy signals. Bloomberg's Dana El Baltaji reports on "Bloomberg Markets Middle East." (Source: Bloomberg)"
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