More deals and partners to come for Adnoc after landmark 2018, says Sultan Al Jaber - The National:
The Abu Dhabi National Oil Company plans to conclude new transactions and partnerships next year as it builds on a landmark 2018, during which it secured billions of dirhams in fees and customers for almost half the country’s crude for the coming four decades.
Adnoc will also identify new investment opportunities in 2019, said Dr Sultan Al Jaber, group chief executive and a UAE Minister of State.
“We have a number of exciting transactions and partnerships in the pipeline that we look forward to delivering in the year ahead as part of our 2030 smart growth strategy,” he said.
Saturday, 29 December 2018
Movement, but little progress for #UAE markets
Movement, but little progress for UAE markets:
The Dubai Financial Market General Index (DFMGI) fell by 40.32 or 1.61 to end at 2,469.49. That’s the sixth week out of seven that the index has closer lower. There were 12 advancing issues and 26 declining, while volume fell to a three-week low.
Once again the DFMGI ended at a lower weekly close after falling to a new trend low for the long-term downtrend. Last week’s close was the lowest weekly closing price since the first week of September 2013 and it is a notice for further weakness.
Four weeks ago the index triggered a continuation of its long-term downtrend as it fell below the prior long-term swing low support of 2,590.72 from January 2016, and closed below it on a weekly basis. Since then the DFMGI has continued to fall reaching as low as 2,429.12 last week. That’s a 55.1 per cent correction off the May 2014 peak.
The Dubai Financial Market General Index (DFMGI) fell by 40.32 or 1.61 to end at 2,469.49. That’s the sixth week out of seven that the index has closer lower. There were 12 advancing issues and 26 declining, while volume fell to a three-week low.
Once again the DFMGI ended at a lower weekly close after falling to a new trend low for the long-term downtrend. Last week’s close was the lowest weekly closing price since the first week of September 2013 and it is a notice for further weakness.
Four weeks ago the index triggered a continuation of its long-term downtrend as it fell below the prior long-term swing low support of 2,590.72 from January 2016, and closed below it on a weekly basis. Since then the DFMGI has continued to fall reaching as low as 2,429.12 last week. That’s a 55.1 per cent correction off the May 2014 peak.
#Qatar’s LNG has a very dominant role in Mediterranean market: IEA official - The Peninsula Qatar
Qatar’s LNG has a very dominant role in Mediterranean market: IEA official - The Peninsula Qatar:
Natural gas resources in the eastern Mediterranean are unlikely to be a game-changer given rising supplies in the global gas market, according to the Turkish head of the International Energy Agency (IEA).
Discoveries of new gas resources in the eastern Mediterranean have put some countries in the spotlight, but feasibility, political challenges, and the presence of other major gas producers impose hurdles on projects that may fail to have a major impact on the gas market, Fatih Birol said yesterday.
“Qatar’s liquefied natural gas has a very dominant role in the Mediterranean market,” he told Anadolu Agency. With Qatar, American gas, and incoming supply from a couple of countries in the Middle East region, it looks very difficult economically to constitute a major project in the eastern Mediterranean, plus there are some political issues as well.”
Natural gas resources in the eastern Mediterranean are unlikely to be a game-changer given rising supplies in the global gas market, according to the Turkish head of the International Energy Agency (IEA).
Discoveries of new gas resources in the eastern Mediterranean have put some countries in the spotlight, but feasibility, political challenges, and the presence of other major gas producers impose hurdles on projects that may fail to have a major impact on the gas market, Fatih Birol said yesterday.
“Qatar’s liquefied natural gas has a very dominant role in the Mediterranean market,” he told Anadolu Agency. With Qatar, American gas, and incoming supply from a couple of countries in the Middle East region, it looks very difficult economically to constitute a major project in the eastern Mediterranean, plus there are some political issues as well.”
#Qatar Airways' sustainability, resilience seen in 2018; HIA sees more passengers
Qatar Airways' sustainability, resilience seen in 2018; HIA sees more passengers:
Qatar Airways added a record 23 new destinations over the past 18 months since the unjustified blockade on the country by a quartet of Arab nations, most of which were connected to its global network in 2018.
This is a key indicator of the national carrier’s sustainability and resilience, something which has never been achieved by any other airline.
Many new destinations are coming up in 2019. New routes to both Isfahan (Iran) and Valletta (Malta) have already been announced for the next year, a further testament to Qatar Airways' growth.
Qatar Airways added a record 23 new destinations over the past 18 months since the unjustified blockade on the country by a quartet of Arab nations, most of which were connected to its global network in 2018.
This is a key indicator of the national carrier’s sustainability and resilience, something which has never been achieved by any other airline.
Many new destinations are coming up in 2019. New routes to both Isfahan (Iran) and Valletta (Malta) have already been announced for the next year, a further testament to Qatar Airways' growth.
BlackRock, Capital Group and Pimco Managers Warn of 2019 Risks - Bloomberg
BlackRock, Capital Group and Pimco Managers Warn of 2019 Risks - Bloomberg:
U.S. stocks are looking scary after their worst year in a decade. Credit is risky too. Volatility is back. For many, cash and short-term debt may be the best place to go.
As fund company executives, portfolio managers and strategists at some of the world’s biggest money managers turn to 2019, they’re cautioning that returns could be muted across asset classes. They’re also urging investors to be increasingly selective in the quest for value. Here’s a sampling of views.
U.S. stocks are looking scary after their worst year in a decade. Credit is risky too. Volatility is back. For many, cash and short-term debt may be the best place to go.
As fund company executives, portfolio managers and strategists at some of the world’s biggest money managers turn to 2019, they’re cautioning that returns could be muted across asset classes. They’re also urging investors to be increasingly selective in the quest for value. Here’s a sampling of views.
Oil Bulls Cap Wackiest Year-End in Decade With Bet on 2019 Rally - Bloomberg
Oil Bulls Cap Wackiest Year-End in Decade With Bet on 2019 Rally - Bloomberg:
Hedge funds are keeping their cool in the most tumultuous end of the year for oil since the 2008 financial crisis, betting on better days ahead.
They boosted wagers on rising Brent prices for a third straight week amid expectations that OPEC and allies will follow through on a deal to reduce output. The vote of confidence comes against a backdrop of turmoil in financial markets that saw one measure of oil-price volatility jump the most on record in November and head for its highest year-end level in a decade.
“There is a little more optimism and neutrality coming into markets and we’re getting some positive signs,” said Ashley Petersen, an oil analyst at Stratas Advisors LLC in New York. “It’s not as if demand is tanking tomorrow and supply is going to triple. We’re seeing a little more rationale enter markets, a little more of a wait-and-see mode.”
Hedge funds are keeping their cool in the most tumultuous end of the year for oil since the 2008 financial crisis, betting on better days ahead.
They boosted wagers on rising Brent prices for a third straight week amid expectations that OPEC and allies will follow through on a deal to reduce output. The vote of confidence comes against a backdrop of turmoil in financial markets that saw one measure of oil-price volatility jump the most on record in November and head for its highest year-end level in a decade.
“There is a little more optimism and neutrality coming into markets and we’re getting some positive signs,” said Ashley Petersen, an oil analyst at Stratas Advisors LLC in New York. “It’s not as if demand is tanking tomorrow and supply is going to triple. We’re seeing a little more rationale enter markets, a little more of a wait-and-see mode.”
#Saudi Public Investment Fund boosts investments in 2018 | ZAWYA MENA Edition
Saudi Public Investment Fund boosts investments in 2018 | ZAWYA MENA Edition:
Saudi Arabia’s sovereign investor Public Investment Fund (PIF) has stepped up its expansions this year by implementing transactions with various local and global investors.
The Saudi sovereign wealth fund’s (PIF) new investments are part of the kingdom’s Vision 2030 that aims to diversify economic resources away from oil revenues and invest more heavily in infrastructure.
Accorinvest
In March, AccorHotels signed contracts with a number of investors including the PIF to sell a 55% stake in its subsidiary AccorInvest at a value of $5.4 billion (EUR 4.4 billion).
Saudi Arabia’s PIF, Singapore’s GIC Pte sovereign-wealth fund, Credit Agricole Assurances, Amundi SA, Colony NorthStar Inc. and other investors had joined forces to acquire the majority stake in AccorInvest's property business.
Saudi Arabia’s sovereign investor Public Investment Fund (PIF) has stepped up its expansions this year by implementing transactions with various local and global investors.
The Saudi sovereign wealth fund’s (PIF) new investments are part of the kingdom’s Vision 2030 that aims to diversify economic resources away from oil revenues and invest more heavily in infrastructure.
Accorinvest
In March, AccorHotels signed contracts with a number of investors including the PIF to sell a 55% stake in its subsidiary AccorInvest at a value of $5.4 billion (EUR 4.4 billion).
Saudi Arabia’s PIF, Singapore’s GIC Pte sovereign-wealth fund, Credit Agricole Assurances, Amundi SA, Colony NorthStar Inc. and other investors had joined forces to acquire the majority stake in AccorInvest's property business.
Saudi king brings veterans back into the fold | Financial Times
Saudi king brings veterans back into the fold | Financial Times:
When Ibrahim al-Assaf was detained at the Ritz-Carlton in Riyadh during Crown Prince Mohammed bin Salman’s extraordinary anti-corruption crackdown, many believed it marked an ignominious end to a long career serving the Saudi state.
But just over a year later, Mr Assaf, who spent two decades as finance minister under three kings, finds himself back at the heart of government. On Thursday, King Salman named him foreign minister, a position that has taken on increasing importance as Riyadh grapples with the diplomatic crisis triggered by the killing of the journalist Jamal Khashoggi.
Mr Assaf is one of two veterans given prominent roles in a new cabinet as King Salman ordered broad changes to his government in an apparent bid to bring in experience and more institutional structure to decision making.
When Ibrahim al-Assaf was detained at the Ritz-Carlton in Riyadh during Crown Prince Mohammed bin Salman’s extraordinary anti-corruption crackdown, many believed it marked an ignominious end to a long career serving the Saudi state.
But just over a year later, Mr Assaf, who spent two decades as finance minister under three kings, finds himself back at the heart of government. On Thursday, King Salman named him foreign minister, a position that has taken on increasing importance as Riyadh grapples with the diplomatic crisis triggered by the killing of the journalist Jamal Khashoggi.
Mr Assaf is one of two veterans given prominent roles in a new cabinet as King Salman ordered broad changes to his government in an apparent bid to bring in experience and more institutional structure to decision making.
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