Tired of cheap oil, Saudis eye price boost to drive Aramco IPO | GulfNews.com:
"Two years after triggering an oil price war, Saudi Arabia has seemingly had enough of cheap crude amid budget pressures, fear of a future supply shortage, and as it seeks to offload a stake in state-owned producer Aramco.
The change in tone comes as Opec and other producers such as Russia may resume talks on stabilising output when they meet in Algeria later this month, after a similar effort to boost oil prices collapsed in April due to Saudi-Iranian tensions.
“The Saudis are going to Algeria for a freeze,” said a source in the Organisation of the Petroleum Exporting Countries who is familiar with the matter and declined to be identified."
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Friday, 2 September 2016
Moody’s upgrades DP World and JAFZ ratings | GulfNews.com
Moody’s upgrades DP World and JAFZ ratings | GulfNews.com:
"Moody’s Investors Service has upgraded the long-term issuer rating of DP World Limited (DPW) to Baa2 from Baa3 and the long-term issuer rating of Jebel Ali Free Zone FZE (JAFZ) to Baa2 from Baa3. The outlook on all ratings is stable.
“Our decision to upgrade DP World’s ratings is a result of the company’s credit metrics broadly meeting the criteria for an upgrade in conjunction with Moody’s recognising that the company retains a degree of financial cushion in its credit metrics at the Baa2 level despite the current challenging global trade environment,” said Rehan Akbar, a Moody’s Assistant Vice President — Analyst. “JAFZ’s upgrade directly reflects the company’s close interlinkages with parent DP World as well as the robustness of its credit profile.”"
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"Moody’s Investors Service has upgraded the long-term issuer rating of DP World Limited (DPW) to Baa2 from Baa3 and the long-term issuer rating of Jebel Ali Free Zone FZE (JAFZ) to Baa2 from Baa3. The outlook on all ratings is stable.
“Our decision to upgrade DP World’s ratings is a result of the company’s credit metrics broadly meeting the criteria for an upgrade in conjunction with Moody’s recognising that the company retains a degree of financial cushion in its credit metrics at the Baa2 level despite the current challenging global trade environment,” said Rehan Akbar, a Moody’s Assistant Vice President — Analyst. “JAFZ’s upgrade directly reflects the company’s close interlinkages with parent DP World as well as the robustness of its credit profile.”"
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Asia clamour spurs Saudis to look at boosting bond sale - FT.com
Asia clamour spurs Saudis to look at boosting bond sale - FT.com:
"Saudi Arabia’s first international debt sale has generated so much interest from Asian investors that the kingdom is weighing a full pipeline of bonds to follow a $15bn initial auction as early as October, according to bankers briefed on the sale.
The clamour for Saudi sovereign debt, which could be the largest emerging market issuance in history, comes as record-low interest rates in mature economies has prompted investors to pour money into developing markets at a record pace, overlooking the risks in some of the world’s least stable economies."
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"Saudi Arabia’s first international debt sale has generated so much interest from Asian investors that the kingdom is weighing a full pipeline of bonds to follow a $15bn initial auction as early as October, according to bankers briefed on the sale.
The clamour for Saudi sovereign debt, which could be the largest emerging market issuance in history, comes as record-low interest rates in mature economies has prompted investors to pour money into developing markets at a record pace, overlooking the risks in some of the world’s least stable economies."
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Iran’s Top 30 Equities Report - PDF
Iran’s Top 30 Equities Report - rupertbu@gmail.com - Gmail:
https://drive.google.com/file/d/0Bw5RZpEKugGwTFpIUVZrMXR5dUE/view?usp=sharing
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https://drive.google.com/file/d/0Bw5RZpEKugGwTFpIUVZrMXR5dUE/view?usp=sharing
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