More than QR20bn added to capitalisation on higher FOL, Q1 results:
"Higher foreign ownership limits and buoyancy in the first quarter financials had their way in lifting the Qatar Stock Exchange to near-9,200 levels and add capitalisation more than QR20bn this week. More than 69% of the traded constituents extended gains this week which saw Qatar and China explore opportunities, including mutual listing of Qatari and Chinese exchange traded funds (ETFs) in both markets. Foreign funds’ substantially strengthened buying interests helped the 20-stock Qatar Index gain 278 points or 3.12% this week which saw Qatar Industrial Manufacturing Company (QIMD) considering setting up a float glass project with an estimated initial investment of QR700mn."
'via Blog this'
Friday, 20 April 2018
Trump's tweet gatecrashes OPEC's celebration
Trump's tweet gatecrashes OPEC's celebration:
"With oil prices hitting $75 per barrel, it was meant to be one of the smoothest meetings OPEC has had in recent years.
The night before the meeting, the ministers gathered in Jeddah celebrated with a traditional Saudi sword dance - just as U.S. President Donald Trump had done when he visited Saudi Arabia last May.
Little did they know that Trump was about to spoil their post-meeting party when he tweeted that oil prices had rallied too far.
"
'via Blog this'
"With oil prices hitting $75 per barrel, it was meant to be one of the smoothest meetings OPEC has had in recent years.
The night before the meeting, the ministers gathered in Jeddah celebrated with a traditional Saudi sword dance - just as U.S. President Donald Trump had done when he visited Saudi Arabia last May.
Little did they know that Trump was about to spoil their post-meeting party when he tweeted that oil prices had rallied too far.
"
'via Blog this'
Surprise: Russia-Saudi Oil Alliance Could Push Prices Down - Bloomberg
Surprise: Russia-Saudi Oil Alliance Could Push Prices Down - Bloomberg:
"As the market reaction to the strikes on Syria demonstrated, increased tensions in the Middle East often force oil prices higher. Until some easing of the markets Thursday, crude had been trading at the highest level in more than three years:
Observers understandably worry about production disruptions or the interference in the shipping of crude oil in the Middle East -- nearly a third of the world’s daily waterborne oil shipments pass through the Strait of Hormuz. General unease about heightened political and military tensions in the region can push prices higher even when these two risk factors are not present -- and even when events occur in a place like Syria, which is a bit player in global oil markets.
Yet we may be seeing a radical development affecting how these markets work. The dynamic of growing concerns over Middle Eastern flare-ups and rising prices will remain important. Concerns about a U.S. withdrawal from the Iran deal, for example, are making markets nervous. Yet, the new politics of the region suggest another scenario is also a possibility -- geopolitical risk could actually bring with it the threat of lower prices, not higher ones, at least in the medium and long run.
"
'via Blog this'
"As the market reaction to the strikes on Syria demonstrated, increased tensions in the Middle East often force oil prices higher. Until some easing of the markets Thursday, crude had been trading at the highest level in more than three years:
Observers understandably worry about production disruptions or the interference in the shipping of crude oil in the Middle East -- nearly a third of the world’s daily waterborne oil shipments pass through the Strait of Hormuz. General unease about heightened political and military tensions in the region can push prices higher even when these two risk factors are not present -- and even when events occur in a place like Syria, which is a bit player in global oil markets.
Yet we may be seeing a radical development affecting how these markets work. The dynamic of growing concerns over Middle Eastern flare-ups and rising prices will remain important. Concerns about a U.S. withdrawal from the Iran deal, for example, are making markets nervous. Yet, the new politics of the region suggest another scenario is also a possibility -- geopolitical risk could actually bring with it the threat of lower prices, not higher ones, at least in the medium and long run.
"
'via Blog this'
Explainer: If Trump revives Iran sanctions, they'll take time to come back
Explainer: If Trump revives Iran sanctions, they'll take time to come back:
"Reports of the Iran nuclear deal’s imminent demise might just be premature.
President Donald Trump will decide by May 12 whether
to restore U.S. economic sanctions on Tehran, which would be a severe blow to the 2015 pact between Iran and six major powers.
Under the deal, Tehran agreed to curb its nuclear program in return for relief from economic sanctions. Trump’s predecessor, Barack Obama, struck the pact to try to keep Iran from building a nuclear weapon but Trump believes it has “disastrous flaws.”"
'via Blog this'
"Reports of the Iran nuclear deal’s imminent demise might just be premature.
President Donald Trump will decide by May 12 whether
to restore U.S. economic sanctions on Tehran, which would be a severe blow to the 2015 pact between Iran and six major powers.
Under the deal, Tehran agreed to curb its nuclear program in return for relief from economic sanctions. Trump’s predecessor, Barack Obama, struck the pact to try to keep Iran from building a nuclear weapon but Trump believes it has “disastrous flaws.”"
'via Blog this'
DP World should rethink port deals in Somalia: foreign minister
DP World should rethink port deals in Somalia: foreign minister:
"Somalia’s foreign minister said on Friday that Dubai state-owned port operator DP World DPW.DI should reconsider its contract with the breakaway region of Somaliland and work with federal authorities so Somalia’s sovereignty is not violated. “We are asking DP World to reconsider these agreements,particularly the one in Berbera port since Somaliland is claiming to be a state independent from Somalia,” Ahmed Isse Awad, Somalia’s foreign minister, told Reuters in an interview. He said DP World’s agreement to develop an economic zone and port in Somaliland’s Berbera “bypassed the legitimate authority” of Somalia, triggering “misunderstanding and disagreement” that remained unresolved."
'via Blog this'
"Somalia’s foreign minister said on Friday that Dubai state-owned port operator DP World DPW.DI should reconsider its contract with the breakaway region of Somaliland and work with federal authorities so Somalia’s sovereignty is not violated. “We are asking DP World to reconsider these agreements,particularly the one in Berbera port since Somaliland is claiming to be a state independent from Somalia,” Ahmed Isse Awad, Somalia’s foreign minister, told Reuters in an interview. He said DP World’s agreement to develop an economic zone and port in Somaliland’s Berbera “bypassed the legitimate authority” of Somalia, triggering “misunderstanding and disagreement” that remained unresolved."
'via Blog this'
DP World should rethink port deals in Somalia: foreign minister
DP World should rethink port deals in Somalia: foreign minister:
"Somalia’s foreign minister said on Friday that Dubai state-owned port operator DP World DPW.DI should reconsider its contract with the breakaway region of Somaliland and work with federal authorities so Somalia’s sovereignty is not violated. “We are asking DP World to reconsider these agreements,particularly the one in Berbera port since Somaliland is claiming to be a state independent from Somalia,” Ahmed Isse Awad, Somalia’s foreign minister, told Reuters in an interview. He said DP World’s agreement to develop an economic zone and port in Somaliland’s Berbera “bypassed the legitimate authority” of Somalia, triggering “misunderstanding and disagreement” that remained unresolved."
'via Blog this'
"Somalia’s foreign minister said on Friday that Dubai state-owned port operator DP World DPW.DI should reconsider its contract with the breakaway region of Somaliland and work with federal authorities so Somalia’s sovereignty is not violated. “We are asking DP World to reconsider these agreements,particularly the one in Berbera port since Somaliland is claiming to be a state independent from Somalia,” Ahmed Isse Awad, Somalia’s foreign minister, told Reuters in an interview. He said DP World’s agreement to develop an economic zone and port in Somaliland’s Berbera “bypassed the legitimate authority” of Somalia, triggering “misunderstanding and disagreement” that remained unresolved."
'via Blog this'
Trump accuses Opec of driving up oil prices ‘artificially’
Trump accuses Opec of driving up oil prices ‘artificially’:
"Donald Trump has launched a broadside against Opec for pushing oil markets to the highest level since 2014, saying that crude prices have been driven up “artificially” by the cartel.
The US president’s statement, made in one of his customary early morning tweets, followed comments by Saudi Arabia’s energy minister on Friday that the world economy could cope with higher oil prices as crude approached $75 a barrel.
“Looks like OPEC is at it again. With record amounts of Oil all over the place, including the fully loaded ships at sea, Oil prices are artificially Very High! No good and will not be accepted!” Mr Trump tweeted."
'via Blog this'
"Donald Trump has launched a broadside against Opec for pushing oil markets to the highest level since 2014, saying that crude prices have been driven up “artificially” by the cartel.
The US president’s statement, made in one of his customary early morning tweets, followed comments by Saudi Arabia’s energy minister on Friday that the world economy could cope with higher oil prices as crude approached $75 a barrel.
“Looks like OPEC is at it again. With record amounts of Oil all over the place, including the fully loaded ships at sea, Oil prices are artificially Very High! No good and will not be accepted!” Mr Trump tweeted."
'via Blog this'
The continuing blockade of Qatar makes no sense
The continuing blockade of Qatar makes no sense:
"If state-backed newspapers in Riyadh are to be believed, the next chapter in the stand-off between Gulf states could see Saudi Arabia turn its tiny, gas-rich neighbour Qatar into an island. This would involve excavating a Suez-style canal on the land border between the two countries. To reinforce this topographical engineering, a dump for toxic waste would be planted in between. The story may well be apocryphal — the latest in a sustained propaganda campaign which has failed thus far to intimidate the Qatari emirate into bending to the will of rival dynasties. It is symptomatic nonetheless of how riven the Gulf states still are 10 months since Saudi Arabia and the United Arab Emirates initiated a trade and diplomatic embargo on Qatar, to the detriment of all. Saudi Arabia has long resented the reluctance of the geographical minnow on its eastern flank to accept a shadow role. Instead, with the independent powers of patronage that Qatar has cultivated thanks to its prodigious gas reserves, the ruling al-Thani family have adopted a consistently maverick foreign policy stance. Qatar’s meddling in regional conflicts, its support for the Islamist Muslim Brotherhood, and the revolution in the Arab media engendered by the Doha-based broadcaster Al Jazeera, have made it a wayward member of the club in the view of rival dynasties. They have not forgiven Qatar either for its wholehearted backing of Islamists in the uprisings that swept Syria, Libya and Egypt during the Arab Spring, when Saudi royals feared their own powers could come under threat."
'via Blog this'
"If state-backed newspapers in Riyadh are to be believed, the next chapter in the stand-off between Gulf states could see Saudi Arabia turn its tiny, gas-rich neighbour Qatar into an island. This would involve excavating a Suez-style canal on the land border between the two countries. To reinforce this topographical engineering, a dump for toxic waste would be planted in between. The story may well be apocryphal — the latest in a sustained propaganda campaign which has failed thus far to intimidate the Qatari emirate into bending to the will of rival dynasties. It is symptomatic nonetheless of how riven the Gulf states still are 10 months since Saudi Arabia and the United Arab Emirates initiated a trade and diplomatic embargo on Qatar, to the detriment of all. Saudi Arabia has long resented the reluctance of the geographical minnow on its eastern flank to accept a shadow role. Instead, with the independent powers of patronage that Qatar has cultivated thanks to its prodigious gas reserves, the ruling al-Thani family have adopted a consistently maverick foreign policy stance. Qatar’s meddling in regional conflicts, its support for the Islamist Muslim Brotherhood, and the revolution in the Arab media engendered by the Doha-based broadcaster Al Jazeera, have made it a wayward member of the club in the view of rival dynasties. They have not forgiven Qatar either for its wholehearted backing of Islamists in the uprisings that swept Syria, Libya and Egypt during the Arab Spring, when Saudi royals feared their own powers could come under threat."
'via Blog this'
Saudi energy minister: world has ‘capacity’ to absorb high oil price
Saudi energy minister: world has ‘capacity’ to absorb high oil price:
"Saudi Arabia’s energy minister said on Friday that the world economy had the “capacity” to absorb higher prices, the day after crude hit the highest level since 2014. Khalid al-Falih, who has led Opec’s 1.8m barrel a day supply reduction deal with Russia, said that while the kingdom was not targeting a specific price, it had little fear current levels above $70 a barrel would cut into rising consumption. “I have not seen any impact on demand with current prices. We have seen prices significantly higher in the past, twice as much as where we are today,” Mr Falih said at a technical meeting in Jeddah to review the impact of the cuts."
'via Blog this'
"Saudi Arabia’s energy minister said on Friday that the world economy had the “capacity” to absorb higher prices, the day after crude hit the highest level since 2014. Khalid al-Falih, who has led Opec’s 1.8m barrel a day supply reduction deal with Russia, said that while the kingdom was not targeting a specific price, it had little fear current levels above $70 a barrel would cut into rising consumption. “I have not seen any impact on demand with current prices. We have seen prices significantly higher in the past, twice as much as where we are today,” Mr Falih said at a technical meeting in Jeddah to review the impact of the cuts."
'via Blog this'
OPEC, Russia Find Reasons to Keep Cutting After Hitting Goal - Bloomberg
OPEC, Russia Find Reasons to Keep Cutting After Hitting Goal - Bloomberg:
"The oil stockpile surplus that’s weighed on prices for three years is all but gone, but instead of celebrating victory OPEC and Russia are finding reasons to continue production cuts.
The group’s historic agreement has achieved impressive results, wiping out 97 percent of the targeted inventory surplus. Yet the cuts should continue because another important goal -- boosting investment in oil and gas production back to sufficient levels -- remains far out of reach, said Saudi Energy Minister Khalid Al-Falih.
His most important ally, Russian counterpart Alexander Novak, agreed there’s no reason to stop just because the pact’s initial goal -- stockpiles back in line with the five-year average -- is at hand."
'via Blog this'
"The oil stockpile surplus that’s weighed on prices for three years is all but gone, but instead of celebrating victory OPEC and Russia are finding reasons to continue production cuts.
The group’s historic agreement has achieved impressive results, wiping out 97 percent of the targeted inventory surplus. Yet the cuts should continue because another important goal -- boosting investment in oil and gas production back to sufficient levels -- remains far out of reach, said Saudi Energy Minister Khalid Al-Falih.
His most important ally, Russian counterpart Alexander Novak, agreed there’s no reason to stop just because the pact’s initial goal -- stockpiles back in line with the five-year average -- is at hand."
'via Blog this'
More countries needed in OPEC, non-OPEC pact: UAE's Al Mazrouei | ZAWYA MENA Edition
More countries needed in OPEC, non-OPEC pact: UAE's Al Mazrouei | ZAWYA MENA Edition:
"Further oil producers need to join Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers in curbing supply, UAE oil minister Suhail Mohamed Al Mazrouei told a German newspaper.
"OPEC members and non-OPEC producers over-delivered on the supply cuts they promised... But we must include further countries in the pact," the Handelsblatt newspaper quoted him as saying in an interview published on Friday.
OPEC members, Russia and other non-OPEC producers have reduced output since January 2017 aiming to reduce inventories and support prices.
"
'via Blog this'
"Further oil producers need to join Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers in curbing supply, UAE oil minister Suhail Mohamed Al Mazrouei told a German newspaper.
"OPEC members and non-OPEC producers over-delivered on the supply cuts they promised... But we must include further countries in the pact," the Handelsblatt newspaper quoted him as saying in an interview published on Friday.
OPEC members, Russia and other non-OPEC producers have reduced output since January 2017 aiming to reduce inventories and support prices.
"
'via Blog this'
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