Saudi Arabia bans beIN Sport from broadcasting in country - BBC Sport:
Saudi Arabia has barred beIN Sport - the Premier League's official Middle East broadcasters - from operating in the country.
It means there is now no legitimate way to watch English top-flight football in a nation whose public investment fund is trying to complete a takeover of Newcastle United.
The proposed £300m buyout is awaiting Premier League approval.
"The decision is nonsensical on every single level," said Qatar-based beIN.
The Saudi government claims the broadcaster has "abused its dominant position through several monopolistic practices".
Tuesday, 14 July 2020
#Lebanon PM Says In Contact With #Kuwait, #Qatar, Iraq for Help - Bloomberg
Lebanon PM Says In Contact With Kuwait, Qatar, Iraq for Help - Bloomberg:
Lebanon is in contact with Kuwait, Qatar and Iraq to help the country face its worst financial crisis in decades, Prime Minister Hassan Diab said.
The contacts were positive and “very encouraging,” he said at a cabinet session Tuesday, according to the official twitter account of the presidency.
Lebanon dispatched Abbas Ibrahim, head of general security who is known for his ties to Gulf countries, to Kuwait. No details of his visit has been reported so far.
The prime minister also accused local politicians of trying to obstruct the process. “Is it possible that a political party leader’s main concern is to obstruct help? This is shameful and even amounts to national treason. What we heard from our brothers in Arab countries about their talks with Lebanese politicians is shameful.”
Lebanon is in contact with Kuwait, Qatar and Iraq to help the country face its worst financial crisis in decades, Prime Minister Hassan Diab said.
The contacts were positive and “very encouraging,” he said at a cabinet session Tuesday, according to the official twitter account of the presidency.
Lebanon dispatched Abbas Ibrahim, head of general security who is known for his ties to Gulf countries, to Kuwait. No details of his visit has been reported so far.
The prime minister also accused local politicians of trying to obstruct the process. “Is it possible that a political party leader’s main concern is to obstruct help? This is shameful and even amounts to national treason. What we heard from our brothers in Arab countries about their talks with Lebanese politicians is shameful.”
Oil rises slightly as OPEC+ complies with production cuts - Reuters
Oil rises slightly as OPEC+ complies with production cuts - Reuters:
Oil prices rose slightly on Tuesday as OPEC and its allies cut production by more than agreed to in June, although demand concerns lingered due to increased cases of COVID-19 in the United States. Brent crude LCOc1 futures settled up 18 cents at $42.90 a barrel, after moving lower earlier in the session. U.S. West Texas Intermediate (WTI) crude CLc1 futures rose 19 cents to $40.29 a barrel.
Crude futures strengthened in post-settlement trading, rising after the American Petroleum Institute, a trade group, said U.S. crude inventories fell more than expected in the latest week.
The market will be watching for additional weekly data Wednesday from the U.S. Energy Information Administration. [EIA/S]
Analysts estimate that U.S. gasoline stockpiles fell by 600,000 barrels and crude oil inventories by 2.1 million barrels last week, a preliminary Reuters poll showed.
Oil prices rose slightly on Tuesday as OPEC and its allies cut production by more than agreed to in June, although demand concerns lingered due to increased cases of COVID-19 in the United States. Brent crude LCOc1 futures settled up 18 cents at $42.90 a barrel, after moving lower earlier in the session. U.S. West Texas Intermediate (WTI) crude CLc1 futures rose 19 cents to $40.29 a barrel.
Crude futures strengthened in post-settlement trading, rising after the American Petroleum Institute, a trade group, said U.S. crude inventories fell more than expected in the latest week.
The market will be watching for additional weekly data Wednesday from the U.S. Energy Information Administration. [EIA/S]
Analysts estimate that U.S. gasoline stockpiles fell by 600,000 barrels and crude oil inventories by 2.1 million barrels last week, a preliminary Reuters poll showed.
European, Middle Eastern & African Stocks - Bloomberg #UAE #SaudiArabia #Qatar close
European, Middle Eastern & African Stocks - Bloomberg:
Updated stock indexes in Europe, Middle East & Africa. Get an overview of major indexes, current values and stock market data in Europe, UK, Germany, Russia & more.
Updated stock indexes in Europe, Middle East & Africa. Get an overview of major indexes, current values and stock market data in Europe, UK, Germany, Russia & more.
#Saudi Stock Market Sees IPO Activity Returning After Virus Slump - Bloomberg
Saudi Stock Market Sees IPO Activity Returning After Virus Slump - Bloomberg:
Saudi Arabia’s stock exchange expects share sales to pick up after coming to a halt during the early stages of the coronavirus pandemic.
There are as many as 10 companies planning initial public offerings on the Tadawul, as the exchange is known, Chief Executive Officer Khalid Al Hussan said in an interview with Bloomberg. The stock exchange is planning to complete its own share sale within the next 24 months, he said.
“We have already listed five companies so far and there are at least nine to 10 companies to come,” Al Hussan said. “If all the applications get listed this year it would be one of the best IPO years.”
Saudi Arabian companies are taking the lead in new offerings on the Middle East’s biggest stock exchange at a time when IPOs across the region have been scarce.
Saudi Arabia’s stock exchange expects share sales to pick up after coming to a halt during the early stages of the coronavirus pandemic.
There are as many as 10 companies planning initial public offerings on the Tadawul, as the exchange is known, Chief Executive Officer Khalid Al Hussan said in an interview with Bloomberg. The stock exchange is planning to complete its own share sale within the next 24 months, he said.
“We have already listed five companies so far and there are at least nine to 10 companies to come,” Al Hussan said. “If all the applications get listed this year it would be one of the best IPO years.”
Saudi Arabian companies are taking the lead in new offerings on the Middle East’s biggest stock exchange at a time when IPOs across the region have been scarce.
#SaudiArabia's Tadawul to launch derivatives market on August 30 | ZAWYA MENA Edition
Saudi Arabia's Tadawul to launch derivatives market on August 30 | ZAWYA MENA Edition:
The Saudi Stock Exchange (Tadawul) will launch its exchange-traded derivatives on August 30, 2020.
The first exchange-traded derivatives product is an index futures contract, the Saudi Futures 30 (SF30). This contract is based on the MSCI Tadawul 30 Index (MT30).
“The launch of The Derivatives Market is a significant step to further advance the Saudi capital market, providing investors with a full and diversified range of investment products and services,” Tadawul said in a statement.
“The SF30 will provide investors with hedging tools to more effectively manage risk and will deliver expanded opportunities to gain exposure to the Saudi capital market,” the statement added.
The Saudi Stock Exchange (Tadawul) will launch its exchange-traded derivatives on August 30, 2020.
The first exchange-traded derivatives product is an index futures contract, the Saudi Futures 30 (SF30). This contract is based on the MSCI Tadawul 30 Index (MT30).
“The launch of The Derivatives Market is a significant step to further advance the Saudi capital market, providing investors with a full and diversified range of investment products and services,” Tadawul said in a statement.
“The SF30 will provide investors with hedging tools to more effectively manage risk and will deliver expanded opportunities to gain exposure to the Saudi capital market,” the statement added.
MIDEAST STOCKS-Most Gulf stocks slip on downbeat IMF forecast; #Qatar ticks higher - Reuters
MIDEAST STOCKS-Most Gulf stocks slip on downbeat IMF forecast; Qatar ticks higher - Reuters:
Most of the major Middle East stock markets eased on Tuesday, after International Monetary Fund revised its growth projections downwards for the region due to the double blows of lower oil prices and the coronavirus crisis.
The COVID-19 pandemic has hit sectors such as tourism and trade, while low oil prices and crude production cuts have strained the finances of regional oil exporters and impacted remittances.
The benchmark index in Saudi Arabia slipped 0.3%, with Samba Financial Group losing 1% and Mobile Telecommunications sliding 5.7%.
The telecoms firm reported a net profit of 59 million riyals ($15.73 million) in the second-quarter, down from 130 million riyals a year earlier.
Most of the major Middle East stock markets eased on Tuesday, after International Monetary Fund revised its growth projections downwards for the region due to the double blows of lower oil prices and the coronavirus crisis.
The COVID-19 pandemic has hit sectors such as tourism and trade, while low oil prices and crude production cuts have strained the finances of regional oil exporters and impacted remittances.
The benchmark index in Saudi Arabia slipped 0.3%, with Samba Financial Group losing 1% and Mobile Telecommunications sliding 5.7%.
The telecoms firm reported a net profit of 59 million riyals ($15.73 million) in the second-quarter, down from 130 million riyals a year earlier.
Oil dips on demand fears as OPEC+ considers output increase - Reuters
Oil dips on demand fears as OPEC+ considers output increase - Reuters:
Oil prices fell on Tuesday on worries that new restrictions to stem surging U.S. and Asian coronavirus cases could threaten a recovery in fuel demand just as OPEC+ producers prepare to increase output from August.
Brent crude futures fell 44 cents to $42.28 a barrel by 0840 GMT and U.S. West Texas Intermediate (WTI) crude futures slid 53 cents to $39.57.
The governor of California, the United States’ most populous state, on Monday ordered bars to shut and restaurants, movie theatres, zoos and museums to cease indoor operations as coronavirus cases soared.
California’s moves follow the recent reinstatement of some restrictions in other states, such as Florida and Texas. New restrictions were also introduced in Asia and Australia.
Oil prices fell on Tuesday on worries that new restrictions to stem surging U.S. and Asian coronavirus cases could threaten a recovery in fuel demand just as OPEC+ producers prepare to increase output from August.
Brent crude futures fell 44 cents to $42.28 a barrel by 0840 GMT and U.S. West Texas Intermediate (WTI) crude futures slid 53 cents to $39.57.
The governor of California, the United States’ most populous state, on Monday ordered bars to shut and restaurants, movie theatres, zoos and museums to cease indoor operations as coronavirus cases soared.
California’s moves follow the recent reinstatement of some restrictions in other states, such as Florida and Texas. New restrictions were also introduced in Asia and Australia.