Trump administration swift to act with America First Energy Plan | The National:
"The first act of the Trump administration after Friday’s inauguration was to post on the White House website an America First Energy Plan, which promises to free America "from dependence on foreign oil". The statement of intent also says that president Donald Trump will ditch "harmful and unnecessary policies, such as the Climate Action Plan and the Waters of the US rule," the former being former president Barack Obama’s detailed 2013 plan to reduce US carbon dioxide emissions and promote renewable energy sources, the latter a 2015 initiative to beef up protection for US waterways from industrial pollution. The new administration says, however, that "for too long we’ve been held back by burdensome regulations on our energy industry", pledging to take a more pro-hydrocarbon path. "
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Saturday, 21 January 2017
UAE markets pause but maintain bullish posture | GulfNews.com
UAE markets pause but maintain bullish posture | GulfNews.com:
"The Dubai Financial Market General Index (DFMGI) pulled back by 30.20 or 0.81 per cent last week to end at 3,690.39, as volume fell. Performance among individual issues was mixed with 18 advancing while 20 declined. At the beginning of the week the index managed to peak slightly above the prior week’s high of 3,728.80 but quickly encountered resistance at 3,736.74, the high for the week. The low for the week was 3,648.32, above the prior week’s low of 3,627.86. Therefore, even though the week ended lower the uptrend was maintained on a weekly basis as we did have a higher weekly high and higher weekly low. The short-term uptrend is now beginning its fourth week and it is part of a larger ten-week uptrend that begun off the November swing low. In turn, that uptrend is part of a larger 12-month uptrend that starts from the January 2016 low. As discussed last week this larger 12-month uptrend has become dominant again as the DFMGI broke out of an eight-month consolidation phase two weeks ago and triggered a bullish continuation of this trend. Therefore, the probability of the DFMGI eventually continuing higher has increased."
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"The Dubai Financial Market General Index (DFMGI) pulled back by 30.20 or 0.81 per cent last week to end at 3,690.39, as volume fell. Performance among individual issues was mixed with 18 advancing while 20 declined. At the beginning of the week the index managed to peak slightly above the prior week’s high of 3,728.80 but quickly encountered resistance at 3,736.74, the high for the week. The low for the week was 3,648.32, above the prior week’s low of 3,627.86. Therefore, even though the week ended lower the uptrend was maintained on a weekly basis as we did have a higher weekly high and higher weekly low. The short-term uptrend is now beginning its fourth week and it is part of a larger ten-week uptrend that begun off the November swing low. In turn, that uptrend is part of a larger 12-month uptrend that starts from the January 2016 low. As discussed last week this larger 12-month uptrend has become dominant again as the DFMGI broke out of an eight-month consolidation phase two weeks ago and triggered a bullish continuation of this trend. Therefore, the probability of the DFMGI eventually continuing higher has increased."
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China-U.S. trade tensions high on Big Oil's worry list | Reuters
China-U.S. trade tensions high on Big Oil's worry list | Reuters:
"Oil executives and Middle East producers are concerned that trade tensions between the United States and China risk clouding the outlook for global energy demand growth and a recovery in the price of oil. "It is not unique to our country to feel a certain level of anxiety (about tensions). But there is a lot of wisdom on both sides... I hope this anxiety will prove unfounded," Saudi Energy Minister Khalid al-Falih told Reuters. Chinese President Xi Jinping offered a vigorous defense of free trade in Davos on Tuesday, underscoring Beijing's desire to play a greater global role as the United States turns inward."
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"Oil executives and Middle East producers are concerned that trade tensions between the United States and China risk clouding the outlook for global energy demand growth and a recovery in the price of oil. "It is not unique to our country to feel a certain level of anxiety (about tensions). But there is a lot of wisdom on both sides... I hope this anxiety will prove unfounded," Saudi Energy Minister Khalid al-Falih told Reuters. Chinese President Xi Jinping offered a vigorous defense of free trade in Davos on Tuesday, underscoring Beijing's desire to play a greater global role as the United States turns inward."
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ATR says aircraft deal with Iran imminent | Reuters
ATR says aircraft deal with Iran imminent | Reuters:
"Turboprop maker ATR has completed commercial negotiations with IranAir for the sale of at least 20 aircraft and expects to be able to sign a contract very soon, the head of the Franco-Italian aircraft maker said on Friday. The deal will come after Iran, which had not directly purchased a Western-built plane in nearly 40 years, signed contracts with Europe's Airbus (AIR.PA) and U.S. rival Boeing (BA.N) last year to purchase about 180 jets. That became possible after an agreement between Iran and six major powers lifted most international sanctions imposed on Tehran, in exchange for Iran curbing its nuclear program. "
'via Blog this'
"Turboprop maker ATR has completed commercial negotiations with IranAir for the sale of at least 20 aircraft and expects to be able to sign a contract very soon, the head of the Franco-Italian aircraft maker said on Friday. The deal will come after Iran, which had not directly purchased a Western-built plane in nearly 40 years, signed contracts with Europe's Airbus (AIR.PA) and U.S. rival Boeing (BA.N) last year to purchase about 180 jets. That became possible after an agreement between Iran and six major powers lifted most international sanctions imposed on Tehran, in exchange for Iran curbing its nuclear program. "
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UAE authorities throw out conviction of Oaktree Capital executive
UAE authorities throw out conviction of Oaktree Capital executive:
"Authorities in the United Arab Emirates have quashed the conviction of a London-based executive of Oaktree Capital who was convicted in absentia of a $264m theft and sentenced to three years in prison. Oaktree, one of the biggest distessed-debt investors in the world, said in a statement on Friday that the prosecutor in Sharjah had dropped the case against Martin Graham, a 38-year-old Briton who remains a senior vice president at the firm. Oaktree’s vice chairman, John Frank, said in the statement:"
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"Authorities in the United Arab Emirates have quashed the conviction of a London-based executive of Oaktree Capital who was convicted in absentia of a $264m theft and sentenced to three years in prison. Oaktree, one of the biggest distessed-debt investors in the world, said in a statement on Friday that the prosecutor in Sharjah had dropped the case against Martin Graham, a 38-year-old Briton who remains a senior vice president at the firm. Oaktree’s vice chairman, John Frank, said in the statement:"
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