MIDEAST STOCKS-Car rental firms surge on Saudi bourse on women driving news:
"Shares of car insurance and rental companies rallied on the Saudi Arabian stock market on Wednesday after news that women would be allowed to drive, although the broader market was flat.
Qatar’s stock market fell sharply, ending a six-day winning streak.
Saudi King Salman on Tuesday issued a royal decree lifting the driving ban; it will be implemented by June 24, 2018, according to state news agency SPA."
'via Blog this'
Solely aggregation of news articles, with no opinions expressed by this service since 2009 launch on this platform. Copyright to all articles remains with the original publisher and HEADLINES ARE CLICKABLE to access the whole article at source. (Subscription by email is recommended,with real-time updates on LinkedIn and Twitter.)
Wednesday 27 September 2017
Qatar Air Eyes New 747 Deal as Embargo Spurs Cargo Demand - Bloomberg
Qatar Air Eyes New 747 Deal as Embargo Spurs Cargo Demand - Bloomberg:
"Qatar Airways Ltd. is considering whether to order more Boeing Co. 747 jumbo freighters as global air cargo rebounds and the Persian Gulf carrier responds to a blockade of its home country.
The jets, featuring a hinged nose that flips open to load oversize equipment, would help the Doha-based carrier make good on its ambition to become the largest international cargo operator in the world, Chief Executive Officer Akbar Al Baker told reporters Monday during a visit to Seattle to take delivery of the first of Qatar Air’s two 747-8 freighters."
'via Blog this'
"Qatar Airways Ltd. is considering whether to order more Boeing Co. 747 jumbo freighters as global air cargo rebounds and the Persian Gulf carrier responds to a blockade of its home country.
The jets, featuring a hinged nose that flips open to load oversize equipment, would help the Doha-based carrier make good on its ambition to become the largest international cargo operator in the world, Chief Executive Officer Akbar Al Baker told reporters Monday during a visit to Seattle to take delivery of the first of Qatar Air’s two 747-8 freighters."
'via Blog this'
China's CEFC wins preliminary government approval for Rosneft deal: sources
China's CEFC wins preliminary government approval for Rosneft deal: sources:
"Privately-run conglomerate CEFC China Energy has obtained preliminary state approval for its proposed $9.1 billion investment in Russian oil major Rosneft (ROSN.MM), three sources with knowledge of the matter told Reuters.
CEFC said earlier this month it will buy a 14.16 percent stake in Rosneft from a consortium of Glencore (GLEN.L) and the Qatar Investment Authority, strengthening energy ties between Moscow and Beijing.
The approval was received just about a week after the deal was announced, the sources said."
'via Blog this'
"Privately-run conglomerate CEFC China Energy has obtained preliminary state approval for its proposed $9.1 billion investment in Russian oil major Rosneft (ROSN.MM), three sources with knowledge of the matter told Reuters.
CEFC said earlier this month it will buy a 14.16 percent stake in Rosneft from a consortium of Glencore (GLEN.L) and the Qatar Investment Authority, strengthening energy ties between Moscow and Beijing.
The approval was received just about a week after the deal was announced, the sources said."
'via Blog this'
GCC Investors Ignore Spat to Buy Qatar's Battered Stocks: Chart - Bloomberg
GCC Investors Ignore Spat to Buy Qatar's Battered Stocks: Chart - Bloomberg:
"Institutional investors from the six-state Gulf Cooperation Council, who fueled a selloff of Qatari stocks when a Saudi-led group of nations cut ties with the sheikhdom in June, are returning. They have been net buyers of Qatari stocks every day since Sept. 18, when the main equity gauge fell to a five-year low, acquiring 15.6 million riyals ($4.2 million) of shares on Monday, the most since April. Saudi Arabia, the United Arab Emirates and other Arab states cut diplomatic and commercial ties with the country amid accusations of funding terrorists, a charge Qatar denies."
'via Blog this'
"Institutional investors from the six-state Gulf Cooperation Council, who fueled a selloff of Qatari stocks when a Saudi-led group of nations cut ties with the sheikhdom in June, are returning. They have been net buyers of Qatari stocks every day since Sept. 18, when the main equity gauge fell to a five-year low, acquiring 15.6 million riyals ($4.2 million) of shares on Monday, the most since April. Saudi Arabia, the United Arab Emirates and other Arab states cut diplomatic and commercial ties with the country amid accusations of funding terrorists, a charge Qatar denies."
'via Blog this'
Qatar imports rebound in August, suggesting sanctions impact fading
Qatar imports rebound in August, suggesting sanctions impact fading:
"The value of Qatar’s imports rebounded sharply in August from July, government data showed on Wednesday, suggesting the economic impact of sanctions imposed by other Arab states is fading.
Imports plunged by over a third after Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut diplomatic and transport ties with Doha on June 5.
The sanctions - over accusations of supporting terrorism, which Doha denies - disrupted shipping routes to Qatar and closed its land border with Saudi Arabia, over which food and building materials were imported."
'via Blog this'
"The value of Qatar’s imports rebounded sharply in August from July, government data showed on Wednesday, suggesting the economic impact of sanctions imposed by other Arab states is fading.
Imports plunged by over a third after Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut diplomatic and transport ties with Doha on June 5.
The sanctions - over accusations of supporting terrorism, which Doha denies - disrupted shipping routes to Qatar and closed its land border with Saudi Arabia, over which food and building materials were imported."
'via Blog this'
REFILE-UPDATE 2-Qatar's Commercial Bank in talks to sell United Arab Bank stake
REFILE-UPDATE 2-Qatar's Commercial Bank in talks to sell United Arab Bank stake:
"Qatari’s third-biggest lender, Commercial Bank, is in talks to sell its $217 million stake in Abu Dhabi-listed United Arab Bank, joining several Qatari companies exiting the United Arab Emirates (UAE) due to a widening Gulf rift. The potential buyer is a UAE-based strategic investor, two sources said, without giving its name. One of the sources said Commercial Bank (CBQ) had been considering selling its 40 percent stake in United Arab Bank even before June when Doha’s spat with some of its Arab neighbours began, but the Gulf crisis accelerated its plan."
'via Blog this'
"Qatari’s third-biggest lender, Commercial Bank, is in talks to sell its $217 million stake in Abu Dhabi-listed United Arab Bank, joining several Qatari companies exiting the United Arab Emirates (UAE) due to a widening Gulf rift. The potential buyer is a UAE-based strategic investor, two sources said, without giving its name. One of the sources said Commercial Bank (CBQ) had been considering selling its 40 percent stake in United Arab Bank even before June when Doha’s spat with some of its Arab neighbours began, but the Gulf crisis accelerated its plan."
'via Blog this'
Bond Sale Day Is Great Timing for Saudis to Ramp Up the Charm - Bloomberg
Bond Sale Day Is Great Timing for Saudis to Ramp Up the Charm - Bloomberg:
"All it does is give Saudi women a privilege others have had for more than a 100 years, but this is a landmark decision for the kingdom. And it’s great timing too. Saudi Arabia is in the market to sell dollar bonds today, it’s second this year. The decision to lift a ban that activists have fought for decades is a sign the kingdom is serious about transforming its society, one of the world’s most conservative, as part of a larger drive to diversify the Arab world’s biggest economy away from oil."
'via Blog this'
"All it does is give Saudi women a privilege others have had for more than a 100 years, but this is a landmark decision for the kingdom. And it’s great timing too. Saudi Arabia is in the market to sell dollar bonds today, it’s second this year. The decision to lift a ban that activists have fought for decades is a sign the kingdom is serious about transforming its society, one of the world’s most conservative, as part of a larger drive to diversify the Arab world’s biggest economy away from oil."
'via Blog this'
MIDEAST STOCKS-FTSE worries weigh on Saudi although car insurers outperform
MIDEAST STOCKS-FTSE worries weigh on Saudi although car insurers outperform:
"Car insurance and rental companies were some of the chief gainers in a generally weak Saudi Arabian stock market early on Wednesday after news that women would be allowed to drive.
King Salman on Tuesday issued a royal decree lifting the driving ban; it will be implemented by June 24, 2018, according to state news agency SPA.
There are about 10 million women, including foreigners, over the age of 20 living in the kingdom. Shares in all of the 30 listed insurers that provide auto insurance rose, led by Alrajhi Co for Cooperative Insurance, which surged 9 percent."
'via Blog this'
"Car insurance and rental companies were some of the chief gainers in a generally weak Saudi Arabian stock market early on Wednesday after news that women would be allowed to drive.
King Salman on Tuesday issued a royal decree lifting the driving ban; it will be implemented by June 24, 2018, according to state news agency SPA.
There are about 10 million women, including foreigners, over the age of 20 living in the kingdom. Shares in all of the 30 listed insurers that provide auto insurance rose, led by Alrajhi Co for Cooperative Insurance, which surged 9 percent."
'via Blog this'
Focus on lower fees makes ETFs more attractive
Focus on lower fees makes ETFs more attractive:
"Growing up in a small farming community outside Kansas City, Vince Morris saw his share of poverty on farms, in the suburbs and the inner city. Seeing families struggling first-hand, he helped when he could, and as he earned an economics degree from the University of Kansas, it gave him an appreciation of the importance keeping costs down. Mr Morris, who is president of financial services at Bukaty Companies, a brokerage, advises companies on their retirement plan design, investment policy, due diligence and monitoring. Among the FT 401 list of leading US retirement advisers, he has allocated the most client assets to exchange traded funds — cheap tradeable baskets of assets."
'via Blog this'
"Growing up in a small farming community outside Kansas City, Vince Morris saw his share of poverty on farms, in the suburbs and the inner city. Seeing families struggling first-hand, he helped when he could, and as he earned an economics degree from the University of Kansas, it gave him an appreciation of the importance keeping costs down. Mr Morris, who is president of financial services at Bukaty Companies, a brokerage, advises companies on their retirement plan design, investment policy, due diligence and monitoring. Among the FT 401 list of leading US retirement advisers, he has allocated the most client assets to exchange traded funds — cheap tradeable baskets of assets."
'via Blog this'