Adia deal shows India ripe for infrastructure investment - The National:
"India's poor infrastructure is creating substantial opportunities for investment as the Indian government pushes to make the sector more attractive for investors amid a desperate need to overhaul of many of the country's most basic facilities.
“The infrastructure problem itself is throwing up a lot of opportunities,” says Shailesh Puranik, the managing director of Puranik Builders, an Indian property developer. “And I think this is one of the best times for international money to come to India because of the favourable market conditions, because of the favourable government at the centre, and because of the favourable policies that we have. They're looking for more and more investment to come in.”
India is likely to see increased foreign investment flowing into the country over the coming years because of these factors, he says."
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Saturday, 21 October 2017
Are fears of a rising threat of disruption to oil industry justified? - The National
Are fears of a rising threat of disruption to oil industry justified? - The National:
"Oil markets have been sanguine about geopolitical risk in recent years.
At the peak of oil prices in 2008, observers ascribed as much as US$10 to $15 per barrel of the price to a “risk premium”. Now, with Iraqi troops advancing on Kirkuk and the US president Donald Trump ceasing to certify the Iran nuclear deal, is it time for the risk premium to return?
Oil prices have risen significantly since their year-low of $44.82 for Brent crude in June. In the week running up to the Kurdish vote, Brent gained $3 to reach a 2017 high of $59.02 on September 25 before falling back a little, closing at $57.17 on Friday. Continuing adherence to the Opec production cuts agreement has been supported by robust demand."
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"Oil markets have been sanguine about geopolitical risk in recent years.
At the peak of oil prices in 2008, observers ascribed as much as US$10 to $15 per barrel of the price to a “risk premium”. Now, with Iraqi troops advancing on Kirkuk and the US president Donald Trump ceasing to certify the Iran nuclear deal, is it time for the risk premium to return?
Oil prices have risen significantly since their year-low of $44.82 for Brent crude in June. In the week running up to the Kurdish vote, Brent gained $3 to reach a 2017 high of $59.02 on September 25 before falling back a little, closing at $57.17 on Friday. Continuing adherence to the Opec production cuts agreement has been supported by robust demand."
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Bulls continue to gain ground | GulfNews.com
Bulls continue to gain ground | GulfNews.com:
"The Dubai Financial Market General Index (DFMGI) advanced by 12.50 or 0.34 per cent last week to close at 3,672.77. That’s the highest weekly close of the past eleven weeks. There were 21 advancing issues and 17 declining while volume jumped to a 35-week high. There were other signs of strengthening last week as well. Although the index didn’t make much progress it did manage to close above the prior week’s high of 3,661.48 on a weekly basis and above the most recent swing high of 3,667.42. Plus, this occurred on much higher volume. Sometimes spikes in volume can be a leading indicator and it looks like that may be the case here. Last week’s high of 3,676.65 pushed up against resistance of 3,681.11, which is the August high and high for the four-month uptrend. Given the bullish signs just discussed, especially higher volume, the odds favour a breakout above the August peak within the near-term. If that occurs a continuation of intermediate-term uptrend (19-week) will be triggered. All of the points above further confirm the likelihood that the minor correction off the August high has completed and the uptrend is getting ready to proceed. Regardless, nothing is for sure until we see further bullish signs as noted. "
'via Blog this'
"The Dubai Financial Market General Index (DFMGI) advanced by 12.50 or 0.34 per cent last week to close at 3,672.77. That’s the highest weekly close of the past eleven weeks. There were 21 advancing issues and 17 declining while volume jumped to a 35-week high. There were other signs of strengthening last week as well. Although the index didn’t make much progress it did manage to close above the prior week’s high of 3,661.48 on a weekly basis and above the most recent swing high of 3,667.42. Plus, this occurred on much higher volume. Sometimes spikes in volume can be a leading indicator and it looks like that may be the case here. Last week’s high of 3,676.65 pushed up against resistance of 3,681.11, which is the August high and high for the four-month uptrend. Given the bullish signs just discussed, especially higher volume, the odds favour a breakout above the August peak within the near-term. If that occurs a continuation of intermediate-term uptrend (19-week) will be triggered. All of the points above further confirm the likelihood that the minor correction off the August high has completed and the uptrend is getting ready to proceed. Regardless, nothing is for sure until we see further bullish signs as noted. "
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PIF gets ready to make its debut on the sovereign wealth fund stage | Arab News
PIF gets ready to make its debut on the sovereign wealth fund stage | Arab News:
"In New York last month, Yasir Othman Al-Rumayyan, CEO of the Saudi Arabian Public Investment Fund (PIF), was asked how its mission has changed from the original mandate when it was set up in 1971. “Now, we’re looking at things differently. It has to make commercial sense, in addition to the developmental aspect. But it has to be efficient, because if it’s not efficient, it’s not going to work out,” he responded. That, in a nutshell, is the new face PIF is showing to the world, and which will be on prominent display in Riyadh next week when it hosts the Future Investment Initiative in front of $22 trillion worth of executives, financiers and policymakers."
'via Blog this'
"In New York last month, Yasir Othman Al-Rumayyan, CEO of the Saudi Arabian Public Investment Fund (PIF), was asked how its mission has changed from the original mandate when it was set up in 1971. “Now, we’re looking at things differently. It has to make commercial sense, in addition to the developmental aspect. But it has to be efficient, because if it’s not efficient, it’s not going to work out,” he responded. That, in a nutshell, is the new face PIF is showing to the world, and which will be on prominent display in Riyadh next week when it hosts the Future Investment Initiative in front of $22 trillion worth of executives, financiers and policymakers."
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Exclusive: Qatar diplomatic crisis delays sale of Gulf shipping firm, sources say
Exclusive: Qatar diplomatic crisis delays sale of Gulf shipping firm, sources say:
"Qatar’s diplomatic crisis is holding up the sale of a shipping company it part owns, one of the latest signs of an emerging corporate fall-out that Doha is facing after Arab countries cut relations in June, sources familiar with the matter said. Saudi Arabia, the United Arab Emirates, Bahrain and Egypt severed diplomatic, trade and transport ties with Qatar in June, accusing it of supporting terrorism - a charge Doha denies. The dispute has hit Qatar’s financial sector, with banks in neighboring Arab states withdrawing billions of dollars from Qatari lenders. Now there are signs that deal-making in the region is also running into difficulties."
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"Qatar’s diplomatic crisis is holding up the sale of a shipping company it part owns, one of the latest signs of an emerging corporate fall-out that Doha is facing after Arab countries cut relations in June, sources familiar with the matter said. Saudi Arabia, the United Arab Emirates, Bahrain and Egypt severed diplomatic, trade and transport ties with Qatar in June, accusing it of supporting terrorism - a charge Doha denies. The dispute has hit Qatar’s financial sector, with banks in neighboring Arab states withdrawing billions of dollars from Qatari lenders. Now there are signs that deal-making in the region is also running into difficulties."
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Oil market is improving and stabilizing, Saudi oil minister says
Oil market is improving and stabilizing, Saudi oil minister says:
"The global oil market is improving and stabilizing, Saudi Oil Minister Khalid al-Falih said in Baghdad on Saturday. In a speech at the opening of the Baghdad International Exhibition, Falih praised the cooperation between Iraq and Saudi Arabia, which he said, contributed to “the improvement and stability we are seeing in the oil market”. Falih is the first Saudi official to make a public speech in Baghdad for several decades. The two countries began taking steps towards detente in 2015 after 25 years of troubled relations starting with the Iraqi invasion of Kuwait in 1990."
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"The global oil market is improving and stabilizing, Saudi Oil Minister Khalid al-Falih said in Baghdad on Saturday. In a speech at the opening of the Baghdad International Exhibition, Falih praised the cooperation between Iraq and Saudi Arabia, which he said, contributed to “the improvement and stability we are seeing in the oil market”. Falih is the first Saudi official to make a public speech in Baghdad for several decades. The two countries began taking steps towards detente in 2015 after 25 years of troubled relations starting with the Iraqi invasion of Kuwait in 1990."
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