Kuwait lifts restrictions on foreign ownership of local lenders - The National:
Kuwait will allow foreign investors to own and trade shares in the Arabian Gulf country's banks ahead of index-compiler MSCI's anticipated decision next year to upgrade Kuwait to emerging-market status.
The decree allows foreign investors to own up to five per cent of a Kuwaiti bank's capital directly or indirectly, state-owned Kuna news agency reported on Saturday citing the Ministry of Commerce and Industry. Any levels exceeding that limit will require the Central Bank of Kuwait's approval.
"The latest move comes in accordance with Decree 694/2018, which notes that the non-Kuwaiti investor shall be allowed to own and trade in Kuwaiti banks' shares," Kuna reported.
Saturday, 15 December 2018
Air Berlin’s administrator sues #Etihad for up to €2 billion
Air Berlin’s administrator sues Etihad for up to €2 billion:
The administrator of German airline Air Berlin is suing Abu Dhabi-based Etihad for up to €2 billion in damages, a Berlin court heard on Friday.
The administrator alleges that the Abu Dhabi airline did not meet its financial obligations to Air Berlin, in which it was the majority shareholder.
“The claims are for payment of $500 million and the establishment that the defendant is obliged to pay further damages. The Chamber has provisionally set the amount in dispute at up to €2 billion,” the court said in a statement, Reuters reported.
The administrator of German airline Air Berlin is suing Abu Dhabi-based Etihad for up to €2 billion in damages, a Berlin court heard on Friday.
The administrator alleges that the Abu Dhabi airline did not meet its financial obligations to Air Berlin, in which it was the majority shareholder.
“The claims are for payment of $500 million and the establishment that the defendant is obliged to pay further damages. The Chamber has provisionally set the amount in dispute at up to €2 billion,” the court said in a statement, Reuters reported.
Analysts Who Warned of Emerging-Market Rout Expect Painful 2019 - Bloomberg
Analysts Who Warned of Emerging-Market Rout Expect Painful 2019 - Bloomberg:
If Jason Daw is right, some of the world’s biggest investors are setting themselves up for a major disappointment.
The Singapore-based strategist at Societe Generale, one of the few to anticipate the slump in emerging markets beginning in January, sees no imminent turnaround for the asset class. He said the modest rally in currencies since September, led by Turkey’s lira, Brazil’s real and South Africa’s rand, is temporary and that slower global growth and additional tightening by the Federal Reserve will continue to weaken developing-nation currencies.
“It will be a multi-year process for investment behavior to adapt to less generous dollar liquidity conditions after a decade of easy money,” he said. “The hurdle for capital to flow back into emerging markets is high and a significant macro catalyst is required to turn the narrative around.”
If Jason Daw is right, some of the world’s biggest investors are setting themselves up for a major disappointment.
The Singapore-based strategist at Societe Generale, one of the few to anticipate the slump in emerging markets beginning in January, sees no imminent turnaround for the asset class. He said the modest rally in currencies since September, led by Turkey’s lira, Brazil’s real and South Africa’s rand, is temporary and that slower global growth and additional tightening by the Federal Reserve will continue to weaken developing-nation currencies.
“It will be a multi-year process for investment behavior to adapt to less generous dollar liquidity conditions after a decade of easy money,” he said. “The hurdle for capital to flow back into emerging markets is high and a significant macro catalyst is required to turn the narrative around.”
#Qatar Ruler Says Talks With Saudi Begin Only When Embargo Lifted - Bloomberg
Qatar Ruler Says Talks With Saudi Begin Only When Embargo Lifted - Bloomberg:
Qatar’s ruler said negotiations to end the feud with its neighbors can only begin after the Saudi-led group ends the embargo on the gas-rich country.
“Our position on the solution hasn’t changed,” Emir Sheikh Tamim bin Hamad Al Thani said at a conference in Doha on Saturday. “The blockade should be lifted and the dispute resolved with dialogue based on mutual respect and non-intervention in the internal affairs of states.”
Last week, Sheikh Tamim spurned an invitation from Saudi Arabia’s King Salman to attend a gathering of Gulf monarchies, which was seen as a sign of thawing relations after 18 months of Qatar’s boycott by the kingdom, the United Arab Emirates, Bahrain and Egypt.
Qatar’s ruler said negotiations to end the feud with its neighbors can only begin after the Saudi-led group ends the embargo on the gas-rich country.
“Our position on the solution hasn’t changed,” Emir Sheikh Tamim bin Hamad Al Thani said at a conference in Doha on Saturday. “The blockade should be lifted and the dispute resolved with dialogue based on mutual respect and non-intervention in the internal affairs of states.”
Last week, Sheikh Tamim spurned an invitation from Saudi Arabia’s King Salman to attend a gathering of Gulf monarchies, which was seen as a sign of thawing relations after 18 months of Qatar’s boycott by the kingdom, the United Arab Emirates, Bahrain and Egypt.
#Qatar's private sector grew almost 6 percent in 2018 despite oil price volatility | Reuters
Qatar's private sector grew almost 6 percent in 2018 despite oil price volatility | Reuters:
Qatar’s private sector grew by almost 6 percent in 2018 despite volatile oil prices, its finance minister said on Saturday.
Last year the economy saw outflows, but 2018 was a good year with most of the growth coming from the private sector, Ali Sharif al-Emadi told the Doha Forum on Saturday.
Qatar’s public sector institutions, including its sovereign wealth fund, had injected more $40 billion into Qatari banks during the initial months of its rift with Saudi Arabia and its allies to help the banking sector mitigate the impact of fund outflows.
Qatar’s private sector grew by almost 6 percent in 2018 despite volatile oil prices, its finance minister said on Saturday.
Last year the economy saw outflows, but 2018 was a good year with most of the growth coming from the private sector, Ali Sharif al-Emadi told the Doha Forum on Saturday.
Qatar’s public sector institutions, including its sovereign wealth fund, had injected more $40 billion into Qatari banks during the initial months of its rift with Saudi Arabia and its allies to help the banking sector mitigate the impact of fund outflows.
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