Exclusive: NMC Health targets US and Africa in next wave of acquisitions - The National:
NMC Health, which joined the FTSE 100 list of companies last September, is looking to the United States and Africa for future investments, after sealing its first acquisition in the UK this week, its chief executive said.
No deal talks are taking place at present, Prasanth Manghat told The National, but expansion in both markets is a target from 2019.
“The US is a very promising market and we hope it will be our next one to break into, although it’s too early to discuss specific opportunities,” said Mr Manghat .
Tuesday, 21 August 2018
World’s biggest sovereign fund worried about trade wars
World’s biggest sovereign fund worried about trade wars:
The managers of Norway’s sovereign wealth fund, the world’s biggest, expressed concern Tuesday about global trade tensions, which could heavily impact its value.
The fund posted a positive return of 1.8 percent, or 167 billion kroner ($19.8 billion), in the second quarter, helping erase a loss of 171 billion kroner in January-March that was attributed to a volatile stock market.
The Government Pension Fund Global, which saw its total value swell to 8.33 trillion kroner by the end of June, manages the country’s oil revenues in order to finance Norway’s generous welfare state when its oil and gas wells run dry.
The managers of Norway’s sovereign wealth fund, the world’s biggest, expressed concern Tuesday about global trade tensions, which could heavily impact its value.
The fund posted a positive return of 1.8 percent, or 167 billion kroner ($19.8 billion), in the second quarter, helping erase a loss of 171 billion kroner in January-March that was attributed to a volatile stock market.
The Government Pension Fund Global, which saw its total value swell to 8.33 trillion kroner by the end of June, manages the country’s oil revenues in order to finance Norway’s generous welfare state when its oil and gas wells run dry.
Early SPR Release May Reflect Trump's Concern Over Oil Prices - Bloomberg
Early SPR Release May Reflect Trump's Concern Over Oil Prices - Bloomberg:
The U.S. sale of 11 million barrels of oil from its emergency stockpile will likely do little to offset the impact of sanctions on Iran.
That timing of the sale -- with the barrels set to hit the market in October and November -- may reflect the White House’s concern over tight supplies amid the renewal of U.S. sanctions, according to analysts at ClearView Energy Partners LLC. The Trump administration has asked allies to halt all imports of Iranian oil by Nov. 4, stoking global supply fears. Yet an 11-million-barrel sale over two months likely won’t do much to offset the impact of sanctions, which the administration estimates will remove 700,000 to 1 million barrels a day of Iranian crude from the global market by early November.
The U.S. sale of 11 million barrels of oil from its emergency stockpile will likely do little to offset the impact of sanctions on Iran.
That timing of the sale -- with the barrels set to hit the market in October and November -- may reflect the White House’s concern over tight supplies amid the renewal of U.S. sanctions, according to analysts at ClearView Energy Partners LLC. The Trump administration has asked allies to halt all imports of Iranian oil by Nov. 4, stoking global supply fears. Yet an 11-million-barrel sale over two months likely won’t do much to offset the impact of sanctions, which the administration estimates will remove 700,000 to 1 million barrels a day of Iranian crude from the global market by early November.
Oil Advances as Strategic Reserve Release Points to Tight Supply - Bloomberg
Oil Advances as Strategic Reserve Release Points to Tight Supply - Bloomberg:
Crude rose the most in more than two weeks as a U.S. plan to sell strategic oil reserves intensified concerns about tightening global supplies.
Futures in New York rose as much as 2.5 percent on Tuesday. Almost 2 percent of the U.S. petroleum reserve will be released later this year just as sanctions are anticipated to begin choking off Iranian crude exports. In the near term, American oil inventories probably declined last week, and the weakening greenback boosted the appeal of dollar-denominated commodities.
“The strength is really primarily from the weak dollar and also you’re getting another week of expectations that you will see crude stocks drop,” said Gene McGillian, manager of market research at Tradition Energy. “The fundamental picture is tighter than it was a year ago.”
Crude rose the most in more than two weeks as a U.S. plan to sell strategic oil reserves intensified concerns about tightening global supplies.
Futures in New York rose as much as 2.5 percent on Tuesday. Almost 2 percent of the U.S. petroleum reserve will be released later this year just as sanctions are anticipated to begin choking off Iranian crude exports. In the near term, American oil inventories probably declined last week, and the weakening greenback boosted the appeal of dollar-denominated commodities.
“The strength is really primarily from the weak dollar and also you’re getting another week of expectations that you will see crude stocks drop,” said Gene McGillian, manager of market research at Tradition Energy. “The fundamental picture is tighter than it was a year ago.”
UAE-owned Spanish energy company Cepsa ready to launch listing in September- sources | ZAWYA MENA Edition
UAE-owned Spanish energy company Cepsa ready to launch listing in September- sources | ZAWYA MENA Edition:
The Abu Dhabi owner of Spanish energy company Cepsa is expected to opt for an IPO instead of a private stake sale and plans to launch the listing as early as September, according to four banking sources familiar with the deal.
While parallel negotiations for a potential sale are ongoing, sources said a Madrid listing was the more likely option.
Two of the sources said the business would be valued at around 10 billion euros ($11.44 billion). Once companies announce an intention to float the listing usually takes place a few weeks later.
The Abu Dhabi owner of Spanish energy company Cepsa is expected to opt for an IPO instead of a private stake sale and plans to launch the listing as early as September, according to four banking sources familiar with the deal.
While parallel negotiations for a potential sale are ongoing, sources said a Madrid listing was the more likely option.
Two of the sources said the business would be valued at around 10 billion euros ($11.44 billion). Once companies announce an intention to float the listing usually takes place a few weeks later.
Oil hits one-week high as Iran-driven rally gathers pace | Reuters
Oil hits one-week high as Iran-driven rally gathers pace | Reuters:
Oil rose to its highest level in a week on Tuesday, ahead of a forecast drawdown in U.S. crude inventories and buoyed by the prospect of U.S. sanctions on Iran, though the trade dispute between Washington and Beijing kept traders and analysts cautious.
Brent crude LCOc1 futures for October delivery rose 42 cents to settle at $72.63 a barrel. The global benchmark earlier hit $72.95 a barrel, the highest level since Aug. 14.
U.S. West Texas Intermediate crude futures for October delivery CLc2, the most active contract, rose 42 cents to settle at $65.84 a barrel. The September contract CLc1 expired on Tuesday and settled 92 cents higher to $67.35 a barrel.
Oil rose to its highest level in a week on Tuesday, ahead of a forecast drawdown in U.S. crude inventories and buoyed by the prospect of U.S. sanctions on Iran, though the trade dispute between Washington and Beijing kept traders and analysts cautious.
Brent crude LCOc1 futures for October delivery rose 42 cents to settle at $72.63 a barrel. The global benchmark earlier hit $72.95 a barrel, the highest level since Aug. 14.
U.S. West Texas Intermediate crude futures for October delivery CLc2, the most active contract, rose 42 cents to settle at $65.84 a barrel. The September contract CLc1 expired on Tuesday and settled 92 cents higher to $67.35 a barrel.
Oil builds momentum with fourth day of gains | Financial Times
Oil builds momentum with fourth day of gains | Financial Times:
Is the pain finally over for oil bulls? Oil prices are on track for their fourth straight session of gains, suggesting a possible end is in sight to several weeks of steady declines.
In midday trading, the price of West Texas Intermediate, the US standard, was up 1.26 per cent to $67.27 a barrel, while Brent, the international benchmark, had advanced 0.43 per cent to $72.52.
The move higher comes as the market balances the impending bite on supply from Iran sanctions with the announcement yesterday that the US had approved the sale of crude oil from its Strategic Petroleum Reserves to help inject additional supplies into the global oil market.
Is the pain finally over for oil bulls? Oil prices are on track for their fourth straight session of gains, suggesting a possible end is in sight to several weeks of steady declines.
In midday trading, the price of West Texas Intermediate, the US standard, was up 1.26 per cent to $67.27 a barrel, while Brent, the international benchmark, had advanced 0.43 per cent to $72.52.
The move higher comes as the market balances the impending bite on supply from Iran sanctions with the announcement yesterday that the US had approved the sale of crude oil from its Strategic Petroleum Reserves to help inject additional supplies into the global oil market.
