Qatar’s ties with emerging markets in Asia seen strengthening:
Growth in the emerging market and the developing economies’ group is set to remain steady at 4.7% in 2018 and 2019. Among the emerging market and the developing economies, the growth prospects of many energy exporters have been lifted by higher oil prices, but growth was revised down for certain countries, reflecting country-specific factors, tighter financial conditions, geopolitical tensions, and higher oil import bills.
Qatar and China mark the 30th anniversary of the official establishment of diplomatic relations between the two friendly countries. Trade volume between Qatar and China was at $10.6bn in 2017 on the strength of energy exports — namely natural gas — from Qatar, as well as Chinese shipments of electronics and building materials to Qatar.
Qatar is already the second largest supplier of LNG to China. The volume of LNG imports from Qatar is expected to rise substantially in the near future as the demand for energy is growing at a rapid pace in China. Chinese companies are looking to enter the Qatari market to tap the growing demand for various products and services.
Sunday 4 November 2018
Investors Scarred by Saudi Shocks See Bigger Risks Than Qatar - Bloomberg
Investors Scarred by Saudi Shocks See Bigger Risks Than Qatar - Bloomberg:
Investors stunned by Saudi Arabia’s unpredictable foreign policy under Crown Prince Mohammed bin Salman are unlikely to drop their guard even if the kingdom succumbs to U.S. pressure to resolve its conflict with neighboring Qatar and end the war the Yemen.
While both issues shocked the investor community when they first erupted, they have since been eclipsed by aggressive policies at home and abroad. Last month, investors put the prince’s tactics under the spotlight after the killing of Saudi critic Jamal Khashoggi at the consulate in Istanbul caused an international uproar, sending the kingdom’s credit risk rising by the most in the world.
“One thing is for certain: the price of Western support or tolerance for the Saudi regime became more expensive,” said Julian Rimmer, a trader at Investec Bank Plc in London. “Western governments are under pressure from within to hold the Saudis to account over the Khashoggi murder which is interpreted as emblematic of wider wrongdoing, most notably in Yemen.”
Investors stunned by Saudi Arabia’s unpredictable foreign policy under Crown Prince Mohammed bin Salman are unlikely to drop their guard even if the kingdom succumbs to U.S. pressure to resolve its conflict with neighboring Qatar and end the war the Yemen.
While both issues shocked the investor community when they first erupted, they have since been eclipsed by aggressive policies at home and abroad. Last month, investors put the prince’s tactics under the spotlight after the killing of Saudi critic Jamal Khashoggi at the consulate in Istanbul caused an international uproar, sending the kingdom’s credit risk rising by the most in the world.
“One thing is for certain: the price of Western support or tolerance for the Saudi regime became more expensive,” said Julian Rimmer, a trader at Investec Bank Plc in London. “Western governments are under pressure from within to hold the Saudis to account over the Khashoggi murder which is interpreted as emblematic of wider wrongdoing, most notably in Yemen.”
Qatar Gives Top Jobs to Executives, Younger Royals in Revamp - Bloomberg
Qatar Gives Top Jobs to Executives, Younger Royals in Revamp - Bloomberg:
Qatar’s ruler elevated younger royals and prominent business executives to top leadership positions on Sunday in the biggest shake-up since the gas exporter retooled its economy and political alliances to resist a Saudi-led boycott imposed in 2017.
The changes, which include the top jobs at Qatar Petroleum and Qatar Investment Authority, the country’s sovereign wealth fund, could put the economy on a stronger footing as regional heavyweight Saudi Arabia faces increasing pressure to end the rift following last month’s killing of prominent Saudi critic Jamal Khashoggi in Istanbul.
“The Qatari leadership is most certainly exploiting the geopolitical context to highlight its commitment to fixing the bureaucracy and longstanding systemic challenges in government,” said Ayham Kamel, head of the Eurasia Group’s Middle East and North Africa research team in New York.
Qatar’s ruler elevated younger royals and prominent business executives to top leadership positions on Sunday in the biggest shake-up since the gas exporter retooled its economy and political alliances to resist a Saudi-led boycott imposed in 2017.
The changes, which include the top jobs at Qatar Petroleum and Qatar Investment Authority, the country’s sovereign wealth fund, could put the economy on a stronger footing as regional heavyweight Saudi Arabia faces increasing pressure to end the rift following last month’s killing of prominent Saudi critic Jamal Khashoggi in Istanbul.
“The Qatari leadership is most certainly exploiting the geopolitical context to highlight its commitment to fixing the bureaucracy and longstanding systemic challenges in government,” said Ayham Kamel, head of the Eurasia Group’s Middle East and North Africa research team in New York.
Emirates seeks Rolls-Royce A380 engine deal, nothing finalised | Reuters
Emirates seeks Rolls-Royce A380 engine deal, nothing finalised | Reuters:
Emirates is edging towards a deal with Rolls-Royce (RR.L) to power its latest Airbus (AIR.PA) A380 superjumbos but has not yet reached a final agreement, the Dubai-based airline said on Sunday.
The fate of a lifeline order for up to 36 of the double-decker aircraft, of which Emirates already has over 100 in operation, has been widely questioned due to inconclusive talks over a separate deal between Emirates and engine makers.
“We are getting closer (to a deal with Rolls-Royce) but have not crossed the line yet,” a spokesperson for the Dubai-based carrier said, asked about the status of negotiations with the British engine maker.
Emirates is edging towards a deal with Rolls-Royce (RR.L) to power its latest Airbus (AIR.PA) A380 superjumbos but has not yet reached a final agreement, the Dubai-based airline said on Sunday.
The fate of a lifeline order for up to 36 of the double-decker aircraft, of which Emirates already has over 100 in operation, has been widely questioned due to inconclusive talks over a separate deal between Emirates and engine makers.
“We are getting closer (to a deal with Rolls-Royce) but have not crossed the line yet,” a spokesperson for the Dubai-based carrier said, asked about the status of negotiations with the British engine maker.
MIDEAST STOCKS-Qatar firms after cabinet reshuffle; other markets subdued | Reuters
MIDEAST STOCKS-Qatar firms after cabinet reshuffle; other markets subdued | Reuters:
Qatari stocks ended firmer on Sunday following a government reshuffle, while markets elsewhere in the region, including Saudi Arabia, were mostly weaker in lacklustre trade.
Qatar, the world’s top liquefied natural gas producer, announced the appointment of the heads of its biggest bank and state-run oil firm to two key ministerial posts, in the first reshuffle since early 2016.
It also announced a board restructuring for state-run Qatar Petroleum (QP) and Qatar Investment Authority (QIA), the world’s ninth largest sovereign wealth fund with about $300 billion in assets.
Qatari stocks ended firmer on Sunday following a government reshuffle, while markets elsewhere in the region, including Saudi Arabia, were mostly weaker in lacklustre trade.
Qatar, the world’s top liquefied natural gas producer, announced the appointment of the heads of its biggest bank and state-run oil firm to two key ministerial posts, in the first reshuffle since early 2016.
It also announced a board restructuring for state-run Qatar Petroleum (QP) and Qatar Investment Authority (QIA), the world’s ninth largest sovereign wealth fund with about $300 billion in assets.
UAE's ADNOC to boost oil output capacity to 4 million bpd by 2020 | Reuters
UAE's ADNOC to boost oil output capacity to 4 million bpd by 2020 | Reuters:
State energy giant Abu Dhabi National Oil Company (ADNOC) plans to increase its oil production capacity to 4 million barrels per day by the end of 2020 and 5 million bpd by 2030 after new oil and gas finds, the company said on Sunday.
Abu Dhabi’s Supreme Petroleum Council (SPC) on Sunday approved ADNOC’s new integrated gas strategy and its plan for capital investment between 2019-2023, the company said in a statement.
The SPC approved AED 486 billion ($132.33 billion) in capex to support ADNOC’s five-year growth plan, Abu Dhabi Crown Prince Sheikh Mohammed Bin Zayed, who headed the SPC’s meeting, said earlier on his Twitter account.
State energy giant Abu Dhabi National Oil Company (ADNOC) plans to increase its oil production capacity to 4 million barrels per day by the end of 2020 and 5 million bpd by 2030 after new oil and gas finds, the company said on Sunday.
Abu Dhabi’s Supreme Petroleum Council (SPC) on Sunday approved ADNOC’s new integrated gas strategy and its plan for capital investment between 2019-2023, the company said in a statement.
The SPC approved AED 486 billion ($132.33 billion) in capex to support ADNOC’s five-year growth plan, Abu Dhabi Crown Prince Sheikh Mohammed Bin Zayed, who headed the SPC’s meeting, said earlier on his Twitter account.
Saudi king to make week-long domestic tour amid Khashoggi crisis | Reuters
Saudi king to make week-long domestic tour amid Khashoggi crisis | Reuters:
Saudi Arabia’s King Salman will embark on a week-long domestic tour on Tuesday, a senior government official told Reuters, as the absolute monarchy faces its worst political crisis in a generation over the murder of journalist Jamal Khashoggi.
It is the first such trip for the 82-year-old king since he acceded to the throne of the world’s top oil exporter in 2015, according to local media, which reported expected stops in the provinces of Qassim and Hail, both northwest of Riyadh.
Online news site Sabq said the king would launch health, education and infrastructure projects, but few other details were immediately available.
Saudi Arabia’s King Salman will embark on a week-long domestic tour on Tuesday, a senior government official told Reuters, as the absolute monarchy faces its worst political crisis in a generation over the murder of journalist Jamal Khashoggi.
It is the first such trip for the 82-year-old king since he acceded to the throne of the world’s top oil exporter in 2015, according to local media, which reported expected stops in the provinces of Qassim and Hail, both northwest of Riyadh.
Online news site Sabq said the king would launch health, education and infrastructure projects, but few other details were immediately available.
Qatar reshuffles cabinet, boards of Qatar Petroleum and Qatar Investment Authority | Reuters
Qatar reshuffles cabinet, boards of Qatar Petroleum and Qatar Investment Authority | Reuters:
Qatar appointed the heads of its biggest bank and state-run oil firm to two key ministerial posts in a cabinet reshuffle on Sunday which comes amid a protracted dispute with Arab states.
The country’s ruler issued decrees restructuring the boards of state-run Qatar Petroleum (QP) and Qatar Investment Authority (QIA), the world’s ninth largest sovereign wealth fund with about $300 billion in assets.
It was the first government reshuffle in Qatar, the world’s top liquefied natural gas producer, since early 2016. The tiny but wealthy country has been facing a diplomatic and economic boycott by Saudi Arabia, the United Arab Emirates, Bahrain and Egypt since June 2017.
Qatar appointed the heads of its biggest bank and state-run oil firm to two key ministerial posts in a cabinet reshuffle on Sunday which comes amid a protracted dispute with Arab states.
The country’s ruler issued decrees restructuring the boards of state-run Qatar Petroleum (QP) and Qatar Investment Authority (QIA), the world’s ninth largest sovereign wealth fund with about $300 billion in assets.
It was the first government reshuffle in Qatar, the world’s top liquefied natural gas producer, since early 2016. The tiny but wealthy country has been facing a diplomatic and economic boycott by Saudi Arabia, the United Arab Emirates, Bahrain and Egypt since June 2017.
Iran’s Rouhani shores up political support as US sanctions loom | Financial Times
Iran’s Rouhani shores up political support as US sanctions loom | Financial Times:
Iran’s president Hassan Rouhani is capitalising on European support for the nuclear deal abandoned by Donald Trump to shore up his political standing at home as US oil sanctions take effect on Monday.
After spending months trying to stem a crisis triggered by the US president’s decision in May to withdraw from the 2015 accord Mr Rouhani sealed with world powers, the Iranian leader has begun to cut a more confident figure.
“The US cannot win this new plot against Iran,” Mr Rouhani told reporters last week. “I tell those who do trade with Iran that this US pressure is temporary but our relations with you are permanent.”
Iran’s president Hassan Rouhani is capitalising on European support for the nuclear deal abandoned by Donald Trump to shore up his political standing at home as US oil sanctions take effect on Monday.
After spending months trying to stem a crisis triggered by the US president’s decision in May to withdraw from the 2015 accord Mr Rouhani sealed with world powers, the Iranian leader has begun to cut a more confident figure.
“The US cannot win this new plot against Iran,” Mr Rouhani told reporters last week. “I tell those who do trade with Iran that this US pressure is temporary but our relations with you are permanent.”
Wall Street’s Turnaround on Saudis Signals Return to Business as Usual - Bloomberg
Wall Street’s Turnaround on Saudis Signals Return to Business as Usual - Bloomberg:
For a moment, Wall Street seemed to be inching away from Saudi Arabia. Now, it’s already inching back.
A month after the murder of government critic Jamal Khashoggi in the Saudi consulate in Istanbul, bankers say the rewards of doing business with the oil-rich kingdom far outweigh the risks.
While the Khashoggi affair has dented the image of reformer and modernizer cultivated by 33-year-old Crown Prince Mohammed bin Salman, there is simply too much money at stake.
For a moment, Wall Street seemed to be inching away from Saudi Arabia. Now, it’s already inching back.
A month after the murder of government critic Jamal Khashoggi in the Saudi consulate in Istanbul, bankers say the rewards of doing business with the oil-rich kingdom far outweigh the risks.
While the Khashoggi affair has dented the image of reformer and modernizer cultivated by 33-year-old Crown Prince Mohammed bin Salman, there is simply too much money at stake.
Qatar names QNB CEO as trade and industry minister
Qatar names QNB CEO as trade and industry minister:
Qatar on Sunday appointed the chief executive of Qatar National Bank (QNB) as the Gulf Arab state’s trade and industry minister.
Ali Ahmed al-Kuwari was named to the post in a cabinet reshuffle that included changes to the justice, labour and social affairs ministries.
QNB, the Middle East’s largest lender by assets, is 50 percent owned by the Qatar Investment Authority, Qatar’s sovereign wealth fund.
Qatar on Sunday appointed the chief executive of Qatar National Bank (QNB) as the Gulf Arab state’s trade and industry minister.
Ali Ahmed al-Kuwari was named to the post in a cabinet reshuffle that included changes to the justice, labour and social affairs ministries.
QNB, the Middle East’s largest lender by assets, is 50 percent owned by the Qatar Investment Authority, Qatar’s sovereign wealth fund.
Oil rally faces tidal wave of supply | Reuters
Oil rally faces tidal wave of supply | Reuters:
The oil market’s two-year bull run is running into one of its biggest tests in months, facing a tidal wave of supply and growing worries about economic weakness sapping demand worldwide.
After topping out at more than $75 and $85 a barrel just a month ago, both U.S. crude and Brent benchmark futures have grappled with near-relentless selling. For a time, prices had some support on hopes that renewed U.S. sanctions on Iran would force barrels off the market.
That changed in the last week. The world’s three largest producers - Russia, Saudi Arabia and the United States - all indicated they were pumping at record or near-record levels, while the United States said it would allow waivers that could allow buyers to keep importing Iranian oil, lessening the threat of a supply crunch.
The oil market’s two-year bull run is running into one of its biggest tests in months, facing a tidal wave of supply and growing worries about economic weakness sapping demand worldwide.
After topping out at more than $75 and $85 a barrel just a month ago, both U.S. crude and Brent benchmark futures have grappled with near-relentless selling. For a time, prices had some support on hopes that renewed U.S. sanctions on Iran would force barrels off the market.
That changed in the last week. The world’s three largest producers - Russia, Saudi Arabia and the United States - all indicated they were pumping at record or near-record levels, while the United States said it would allow waivers that could allow buyers to keep importing Iranian oil, lessening the threat of a supply crunch.
MIDEAST STOCKS-Banking shares help Qatar rise amid mixed Gulf markets | Reuters
MIDEAST STOCKS-Banking shares help Qatar rise amid mixed Gulf markets | Reuters:
Qatar’s stock market rose in early trade on Sunday, buoyed by banking shares, while other regional markets were mixed.
Qatar’s main index was up 0.5 percent to 10,326 points in the first hour of trading with Qatar Islamic Bank , Qatar National Bank (QNB), and Masraf Al Rayan rising.
Qatar Islamic Bank was up 2.4 percent, while QNB and Masraf Al Rayan were each up 0.5 percent. Petrochemicals, metals and fertiliser producer Industries Qatar was up 0.7 percent.
Qatar’s stock market rose in early trade on Sunday, buoyed by banking shares, while other regional markets were mixed.
Qatar’s main index was up 0.5 percent to 10,326 points in the first hour of trading with Qatar Islamic Bank , Qatar National Bank (QNB), and Masraf Al Rayan rising.
Qatar Islamic Bank was up 2.4 percent, while QNB and Masraf Al Rayan were each up 0.5 percent. Petrochemicals, metals and fertiliser producer Industries Qatar was up 0.7 percent.
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