Kuwait May Coordinate With Saudis on $20 Billion Bond Clash - Bloomberg:
"Kuwait is open to liaising with neighboring Saudi Arabia on its planned debt sale as the two OPEC nations prepare to test investor appetite for about $20 billion of bonds.
“If it’s required and if our advisers think we should coordinate in terms of timing we would do that,’’ Kuwaiti Finance Minister Anas Al-Saleh said in a phone interview Monday, referring to the country’s plan to raise as much as $9.9 billion in September. “We have very strong ties.’’"
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Wednesday, 13 July 2016
Kuwait Plans to Sell Oil Stakes - Bloomberg
Kuwait Plans to Sell Oil Stakes - Bloomberg:
"Kuwait is trying to boost the efficiency of its oil industry by selling stakes in some units of the state oil producer. Bloomberg's Zainab Fattah reports on "Bloomberg Markets Middle East.""
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"Kuwait is trying to boost the efficiency of its oil industry by selling stakes in some units of the state oil producer. Bloomberg's Zainab Fattah reports on "Bloomberg Markets Middle East.""
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MIDEAST STOCKS-Gulf stocks benefit from EM inflows ahead of stimulus moves | Reuters
MIDEAST STOCKS-Gulf stocks benefit from EM inflows ahead of stimulus moves | Reuters:
"Gulf stock indexes benefited from fund inflows into emerging markets on Wednesday, with all advancing for a second day, as central banks in major global markets signalled the prospect of further economic stimulus.
The Bank of England is due to have its first post-Brexit policy meeting on Thursday, where analysts are expecting the central bank to cut UK interest rates to calm markets. In Japan, there are also expectations of further economic stimulus this month.
"The lower-for-longer interest rate environment and the positive knock-on effect on emerging markets is clearly seen through the sizeable foreign inflows that regional equities are currently enjoying," said Mohamed El Jamal, managing director of capital markets at Abu Dhabi's Waha Capital."
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"Gulf stock indexes benefited from fund inflows into emerging markets on Wednesday, with all advancing for a second day, as central banks in major global markets signalled the prospect of further economic stimulus.
The Bank of England is due to have its first post-Brexit policy meeting on Thursday, where analysts are expecting the central bank to cut UK interest rates to calm markets. In Japan, there are also expectations of further economic stimulus this month.
"The lower-for-longer interest rate environment and the positive knock-on effect on emerging markets is clearly seen through the sizeable foreign inflows that regional equities are currently enjoying," said Mohamed El Jamal, managing director of capital markets at Abu Dhabi's Waha Capital."
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Airbus A380 Cut May Mark Beginning of End for Superjumbo - Bloomberg
Airbus A380 Cut May Mark Beginning of End for Superjumbo - Bloomberg:
"Airbus Group SE announced a drastic cut in production of its flagship A380 superjumbo, acknowledging that demand has fallen far short of original projections and raising the prospect of the world’s biggest passenger plane being prematurely axed.
The build rate for the double-decker will be slashed by more than half to one plane a month by 2018, Airbus revealed Tuesday. Contrasting the success of the rest of the Airbus line, the company delivered the surprise damper just hours after pulling in several massive orders for its popular A320-type single-aisle jet at the Farnborough Air Show in the U.K."
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"Airbus Group SE announced a drastic cut in production of its flagship A380 superjumbo, acknowledging that demand has fallen far short of original projections and raising the prospect of the world’s biggest passenger plane being prematurely axed.
The build rate for the double-decker will be slashed by more than half to one plane a month by 2018, Airbus revealed Tuesday. Contrasting the success of the rest of the Airbus line, the company delivered the surprise damper just hours after pulling in several massive orders for its popular A320-type single-aisle jet at the Farnborough Air Show in the U.K."
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MIDEAST STOCKS-Gulf markets get direction from first earnings burst | Reuters
MIDEAST STOCKS-Gulf markets get direction from first earnings burst | Reuters:
"Investors in Gulf stock markets will look to digest the first blast of second-quarter company earnings on Wednesday, as banks in Saudi Arabia, Qatar and Oman provide positive cues with estimate-beating profit increases.
Qatar National Bank, the largest bank in the Middle East and Africa by assets, delivered a 10 percent jump in second-quarter net profit after market hours on Tuesday, aided by the inclusion of Turkey's Finansbank in its accounts for the first time.
The bank, always the first lender in Qatar to post numbers, is seen as a bellwether for the Qatari banking industry due to its sheer size and dominant market share in many aspects of local banking."
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"Investors in Gulf stock markets will look to digest the first blast of second-quarter company earnings on Wednesday, as banks in Saudi Arabia, Qatar and Oman provide positive cues with estimate-beating profit increases.
Qatar National Bank, the largest bank in the Middle East and Africa by assets, delivered a 10 percent jump in second-quarter net profit after market hours on Tuesday, aided by the inclusion of Turkey's Finansbank in its accounts for the first time.
The bank, always the first lender in Qatar to post numbers, is seen as a bellwether for the Qatari banking industry due to its sheer size and dominant market share in many aspects of local banking."
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Huge stocks overhang threatens oil price recovery: IEA | Reuters
Huge stocks overhang threatens oil price recovery: IEA | Reuters:
"The global glut in oil is refusing to ease and acts as a major dampener on crude prices despite robust demand growth and steep declines in non-OPEC production, the International Energy Agency said on Wednesday.
The IEA, which coordinates the energy policies of industrial nations, said it had revised up its forecasts of 2016 and 2017 global oil demand growth by 0.1 million barrels per day from last month to 1.4 million and 1.3 million bpd respectively.
It said demand was growing thanks to good consumption in India, China and, surprisingly, Europe."
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"The global glut in oil is refusing to ease and acts as a major dampener on crude prices despite robust demand growth and steep declines in non-OPEC production, the International Energy Agency said on Wednesday.
The IEA, which coordinates the energy policies of industrial nations, said it had revised up its forecasts of 2016 and 2017 global oil demand growth by 0.1 million barrels per day from last month to 1.4 million and 1.3 million bpd respectively.
It said demand was growing thanks to good consumption in India, China and, surprisingly, Europe."
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