MIDEAST STOCKS-Saudi petchems up on firmer oil, GFH shines in Bahrain | Reuters:
"Most stock markets in the Gulf posted minor gains on Sunday, reflecting last week’s positive close in international stocks and on the back of firmer oil prices. In Saudi Arabia, the benchmark index edged up 0.1 percent, lifted by gains in the petrochemical sector. Oil prices last week hit their highest in more than three years, with Brent crude oil trading at $74.87 a barrel, as the market awaited news from Washington on possible new U.S. sanctions against Iran."
'via Blog this'
Sunday, 6 May 2018
Billions on the line for firms as Trump weighs Iran pullout
Billions on the line for firms as Trump weighs Iran pullout:
"From airplanes to oilfields, billions of dollars are on the line for international corporations as President Donald Trump weighs whether to pull America out of Iran’s nuclear deal with world powers. Regardless of where they are headquartered, virtually all multinational corporations do business or banking in the U.S., meaning any return to pre-deal sanctions could torpedo deals made after the 2015 agreement came into force. That threat alone has been enough to scare risk-averse firms, like Boeing Co., into slow-walking deals agreed to months ago. A complete pullout by the U.S. would wreak further havoc and likely frighten off those considering making the plunge."
'via Blog this'
"From airplanes to oilfields, billions of dollars are on the line for international corporations as President Donald Trump weighs whether to pull America out of Iran’s nuclear deal with world powers. Regardless of where they are headquartered, virtually all multinational corporations do business or banking in the U.S., meaning any return to pre-deal sanctions could torpedo deals made after the 2015 agreement came into force. That threat alone has been enough to scare risk-averse firms, like Boeing Co., into slow-walking deals agreed to months ago. A complete pullout by the U.S. would wreak further havoc and likely frighten off those considering making the plunge."
'via Blog this'
RPT-Cautious Saudi bankers give reality check on country's economic health | Reuters
RPT-Cautious Saudi bankers give reality check on country's economic health | Reuters:
"Saudi Arabia’s banks are preparing for muted lending growth this year, providing a reality check on the state of the country’s economy and government efforts to stimulate growth. Saudi Arabia unveiled its Vision 2030 plan in 2016 to transform the country’s economy, which is still suffering the after effects of the slump in oil prices, recession and austerity measures to cut the state deficit. “Vision 2030 is in the future, but we’re dealing with the reality of now,” said one senior Saudi banker. “We’re having to be more careful and client demand is weak anyway.” "
'via Blog this'
"Saudi Arabia’s banks are preparing for muted lending growth this year, providing a reality check on the state of the country’s economy and government efforts to stimulate growth. Saudi Arabia unveiled its Vision 2030 plan in 2016 to transform the country’s economy, which is still suffering the after effects of the slump in oil prices, recession and austerity measures to cut the state deficit. “Vision 2030 is in the future, but we’re dealing with the reality of now,” said one senior Saudi banker. “We’re having to be more careful and client demand is weak anyway.” "
'via Blog this'
Iran Opposes Higher Oil Prices, Signaling Divide With Saudis - Bloomberg
Iran Opposes Higher Oil Prices, Signaling Divide With Saudis - Bloomberg:
"Iran, faced with a possible restoration of U.S. sanctions, came out against higher oil prices, signaling a split with fellow OPEC member Saudi Arabia, which is showing a willingness to keep tightening crude markets. A “suitable price” for crude is $60 to $65 a barrel, Amir Hossein Zamaninia, deputy oil minister for international and commercial affairs, said in an interview Sunday in Tehran. Oil Minister Bijan Namdar Zanganeh said earlier in the day that Iran supports “reasonable” oil prices and is not an advocate of costlier crude. Brent crude futures surged to almost $75 a barrel on Friday as traders braced for the possible re-imposition of U.S. restrictions on Iran, the third-biggest producer in the Organization of Petroleum Exporting Countries. Saudi Arabia, the world’s largest oil exporter and OPEC’s biggest producer, is said to want crude closer to $80 a barrel, in part to support the valuation of state energy giant Aramco before a planned initial public offering."
'via Blog this'
"Iran, faced with a possible restoration of U.S. sanctions, came out against higher oil prices, signaling a split with fellow OPEC member Saudi Arabia, which is showing a willingness to keep tightening crude markets. A “suitable price” for crude is $60 to $65 a barrel, Amir Hossein Zamaninia, deputy oil minister for international and commercial affairs, said in an interview Sunday in Tehran. Oil Minister Bijan Namdar Zanganeh said earlier in the day that Iran supports “reasonable” oil prices and is not an advocate of costlier crude. Brent crude futures surged to almost $75 a barrel on Friday as traders braced for the possible re-imposition of U.S. restrictions on Iran, the third-biggest producer in the Organization of Petroleum Exporting Countries. Saudi Arabia, the world’s largest oil exporter and OPEC’s biggest producer, is said to want crude closer to $80 a barrel, in part to support the valuation of state energy giant Aramco before a planned initial public offering."
'via Blog this'
Bahrain's GFH Financial hires GIB to seek Saudi listing | ZAWYA MENA Edition
Bahrain's GFH Financial hires GIB to seek Saudi listing | ZAWYA MENA Edition:
"Bahrain-based investment firm GFH Financial Group has hired Gulf International Bank to help it seek a cross-listing on Saudi Arabia's stock market, it said on Sunday.
GFH disclosed plans last year to seek a listing on Saudi Arabia's stock exchange (Tadawul) as part of a strategy to participate in Saudi Arabia's privatisation programme in sectors such as education and healthcare.
GFH said in a statement on Sunday that the move was subject to the approvals of the Bahrain central bank and Saudi Arabia's Capital Market Authority."
'via Blog this'
"Bahrain-based investment firm GFH Financial Group has hired Gulf International Bank to help it seek a cross-listing on Saudi Arabia's stock market, it said on Sunday.
GFH disclosed plans last year to seek a listing on Saudi Arabia's stock exchange (Tadawul) as part of a strategy to participate in Saudi Arabia's privatisation programme in sectors such as education and healthcare.
GFH said in a statement on Sunday that the move was subject to the approvals of the Bahrain central bank and Saudi Arabia's Capital Market Authority."
'via Blog this'
RPT-MIDEAST STOCKS-Gulf moves in line with global stocks, Saudi petchems up on soaring oil | Reuters
RPT-MIDEAST STOCKS-Gulf moves in line with global stocks, Saudi petchems up on soaring oil | Reuters:
"Gulf stock markets opened in positive territory on Sunday, mirroring gains in global stocks late last week and boosted by soaring oil prices. Weaker-than-expected jobs data in the United States eased worries about a potential acceleration in the pace of U.S interest rate hikes from the Federal Reserve. This, combined with gains in tech shares such as Apple, gave support to U.S. stocks last Friday. Oil prices hit their highest in more than three years, with Brent crude settling up at $74.87 a barrel, as the market awaited news from Washington on possible new U.S. sanctions against Iran."
'via Blog this'
"Gulf stock markets opened in positive territory on Sunday, mirroring gains in global stocks late last week and boosted by soaring oil prices. Weaker-than-expected jobs data in the United States eased worries about a potential acceleration in the pace of U.S interest rate hikes from the Federal Reserve. This, combined with gains in tech shares such as Apple, gave support to U.S. stocks last Friday. Oil prices hit their highest in more than three years, with Brent crude settling up at $74.87 a barrel, as the market awaited news from Washington on possible new U.S. sanctions against Iran."
'via Blog this'
Subscribe to:
Posts (Atom)