Oil prices ease, focus shifts to next OPEC+ move | Reuters
Brent crude futures snapped a three-day rally on Friday in light trading before the Christmas holidays, but the benchmark ended the week higher, with the market focusing on next steps by OPEC+ and the impact of the Omicron variant.
Brent crude futures settled 71 cents lower at $76.14 a barrel at the early close of 1300 GMT, rising by about 3% on the week.
U.S. markets are closed on Friday for the Christmas holiday.
Oil prices have recovered this week as fears over the impact of the highly infectious Omicron variant on the global economy receded, with early data suggesting it causes a milder level of illness.
Friday, 24 December 2021
IHS Markit adds #Saudi bonds to iBoxx index, Tadawul says | ZAWYA MENA Edition
IHS Markit adds Saudi bonds to iBoxx index, Tadawul says | ZAWYA MENA Edition
Saudi exchange operator Tadawul said in a tweet on Wednesday that IHS Markit had included the Saudi government Sukuk market in its iBoxx global government bond index.
Saudi Capital Market Authority said in a statement that the inclusion will help the sukuk and debt instruments market indices to be followed by international investors.
CMA expected that a further 27 government debt instruments listed on Tadawul will join the index starting from Jan. 31, 2022, making up around 0.19 percent of iBoxx's weight.
Saudi exchange operator Tadawul said in a tweet on Wednesday that IHS Markit had included the Saudi government Sukuk market in its iBoxx global government bond index.
Saudi Capital Market Authority said in a statement that the inclusion will help the sukuk and debt instruments market indices to be followed by international investors.
CMA expected that a further 27 government debt instruments listed on Tadawul will join the index starting from Jan. 31, 2022, making up around 0.19 percent of iBoxx's weight.
Royal Jordanian Airlines Seeks State Bailout to Offset Losses and Fund New Fleet - Bloomberg
Royal Jordanian Airlines Seeks State Bailout to Offset Losses and Fund New Fleet - Bloomberg
Royal Jordanian Airlines is seeking about $282 million in state funding to help offset revenue lost during the Covid-19 pandemic and help finance an order of new jets.
The Middle Eastern carrier is looking for an initial injection of 100 million dinars ($141 million) to see it through the first half of next year, followed by another of the same amount later on, Chief Executive Officer Samer Majali said in an interview.
Royal Jordanian understands that the government has limited resources but needs assistance to remain competitive, Majali said Thursday.
“It’s to cover the losses incurred since the second quarter of 2020 and help us bring back our network and expand and renew our fleet,” he said. “It’s less than we lost but it will be enough.”
Royal Jordanian Airlines is seeking about $282 million in state funding to help offset revenue lost during the Covid-19 pandemic and help finance an order of new jets.
The Middle Eastern carrier is looking for an initial injection of 100 million dinars ($141 million) to see it through the first half of next year, followed by another of the same amount later on, Chief Executive Officer Samer Majali said in an interview.
Royal Jordanian understands that the government has limited resources but needs assistance to remain competitive, Majali said Thursday.
“It’s to cover the losses incurred since the second quarter of 2020 and help us bring back our network and expand and renew our fleet,” he said. “It’s less than we lost but it will be enough.”
Ardonagh Nears Takeover of Insurance Broker MDS - Bloomberg
Ardonagh Nears Takeover of Insurance Broker MDS - Bloomberg
Ardonagh Group has agreed to buy Portuguese insurance broker MDS Group.
U.K.-based Ardonagh announced the acquisition, which will be funded with equity and debt, in a statement Thursday that confirmed an earlier Bloomberg News report. Financial terms were not disclosed.
The deal is valued at more than 200 million pounds ($268 million), according to a person familiar with the matter, who asked not to be identified discussing confidential information. Ardonagh is buying MDS from Sonae Group and IPLF Holding.
MDS manages more than 500 million euros ($567 million) in insurance premiums, generating annual revenue of about 75 million euros. The Lloyd’s of London broker has a presence in Portugal, Brazil, Spain, Angola, Mozambique, Switzerland and Malta, according to its website.
Founded in 2017, Ardonagh operates as an independent insurance broker with four units -- international, specialty, advisory and retail. It’s recently been growing through acquisitions, while also exploring options for its retail unit that could include an initial public offering.
Earlier this month, Ardonagh was valued at $7.5 billion after raising new money from investors including Abu Dhabi Investment Authority and existing backers Madison Dearborn Partners and HPS Investment Partners.
Ardonagh Group has agreed to buy Portuguese insurance broker MDS Group.
U.K.-based Ardonagh announced the acquisition, which will be funded with equity and debt, in a statement Thursday that confirmed an earlier Bloomberg News report. Financial terms were not disclosed.
The deal is valued at more than 200 million pounds ($268 million), according to a person familiar with the matter, who asked not to be identified discussing confidential information. Ardonagh is buying MDS from Sonae Group and IPLF Holding.
MDS manages more than 500 million euros ($567 million) in insurance premiums, generating annual revenue of about 75 million euros. The Lloyd’s of London broker has a presence in Portugal, Brazil, Spain, Angola, Mozambique, Switzerland and Malta, according to its website.
Founded in 2017, Ardonagh operates as an independent insurance broker with four units -- international, specialty, advisory and retail. It’s recently been growing through acquisitions, while also exploring options for its retail unit that could include an initial public offering.
Earlier this month, Ardonagh was valued at $7.5 billion after raising new money from investors including Abu Dhabi Investment Authority and existing backers Madison Dearborn Partners and HPS Investment Partners.
Oil prices ease, focus shifts to next OPEC+ move | Reuters
Oil prices ease, focus shifts to next OPEC+ move | Reuters
Brent crude futures snapped a three-day rally on Friday in light trading before the Christmas holidays but the benchmark was still headed for a weekly gain, with the market focusing on next steps by OPEC+ and the impact of the Omicron variant.
Brent crude futures fell 75 cents, or 1%, to $76.10 a barrel by 1121 GMT, following a 2.1% gain in the previous session. The benchmark was still on track for a weekly gain of about 3.5%.
U.S. markets are closed on Friday for the Christmas holiday.
Oil prices have recovered this week as fears over the impact of the highly infectious Omicron variant on the global economy receded, with early data suggesting it causes a milder level of illness.
Brent crude futures snapped a three-day rally on Friday in light trading before the Christmas holidays but the benchmark was still headed for a weekly gain, with the market focusing on next steps by OPEC+ and the impact of the Omicron variant.
Brent crude futures fell 75 cents, or 1%, to $76.10 a barrel by 1121 GMT, following a 2.1% gain in the previous session. The benchmark was still on track for a weekly gain of about 3.5%.
U.S. markets are closed on Friday for the Christmas holiday.
Oil prices have recovered this week as fears over the impact of the highly infectious Omicron variant on the global economy receded, with early data suggesting it causes a milder level of illness.
Oil prices ease in holiday trade, market focus on next OPEC+ move | Reuters
Oil prices ease in holiday trade, market focus on next OPEC+ move | Reuters
Brent crude futuressnapped a three-day rally on Friday in light trade, with many investors away for the holidays, but the benchmark was still headed for a weekly gain, with the market focusing on the next step by OPEC+ and the impact of the Omicron variant.
Brent crude futures slid 39 cents, or 0.5%, to $76.46 a barrel by 0544 GMT, following a 2.1% gain in the previous session. The benchmark was still on track for a weekly gain of about 4%.
U.S. markets are closed on Friday for the Christmas holiday.
Oil prices have recovered this week as fears over the impact of the highly infectious Omicron variant on the global economy receded, with early data suggesting it causes a milder level of illness.
Brent crude futuressnapped a three-day rally on Friday in light trade, with many investors away for the holidays, but the benchmark was still headed for a weekly gain, with the market focusing on the next step by OPEC+ and the impact of the Omicron variant.
Brent crude futures slid 39 cents, or 0.5%, to $76.46 a barrel by 0544 GMT, following a 2.1% gain in the previous session. The benchmark was still on track for a weekly gain of about 4%.
U.S. markets are closed on Friday for the Christmas holiday.
Oil prices have recovered this week as fears over the impact of the highly infectious Omicron variant on the global economy receded, with early data suggesting it causes a milder level of illness.
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