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Aramco earnings declined as expected, analyst says
  + stars: | 2024-05-08 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAramco earnings declined as expected, analyst saysJaap Meijer, head of research at Arqaam Capital, discusses the factors behind the earnings decline of Saudi Arabia's largest oil producer.
Persons: Jaap Meijer Organizations: Aramco, Arqaam Locations: Saudi
Analyst discusses the UAE's first IPO of 2024
  + stars: | 2024-03-05 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAnalyst discusses the UAE's first IPO of 2024Jaap Meijer, head of research at Arqaam Capital, discusses the initial public offering of Parkin — a public parking operator — the United Arab Emirates' first for 2024.
Persons: Jaap Meijer, Parkin Organizations: Arqaam, United Arab Emirates
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSaudi Arabia continues to have a 'very high growth forecast' for the non-oil sector, analyst saysJaap Meijer of Arqaam Capital discusses the outlook for markets in the Middle East.
Persons: Jaap Meijer Organizations: Saudi, Arqaam Locations: Saudi Arabia
Deputy Finance Minister Ahmed Kouchouk said on Wednesday he expected the IMF board to approve the package at the meeting. In a statement issued by the cabinet on Friday, Kouchouk reiterated that the agreement with the IMF aimed to achieve a flexible exchange rate. Dealers on the black market were selling dollars for 32 to 33 pounds compared to the official rate of about 24.6 to the dollar. "However we do not expect a devaluation to the 32-34 handle as now implied by the London listings or the black market." Since early November, the central bank has been allowing the official rate to weaken incrementally by an average of about 0.01 pounds per day.
Register now for FREE unlimited access to Reuters.com RegisterHe said that PIF's issuance of the first-ever 100-year green bonds showed investor confidence in its credit strength and Saudi Arabia's long-term commitment to energy transition. PIF sold $500 million of the 100-year bonds - the first bonds of that tenor from a debut issuer or a sovereign wealth fund, and the first 100-year issue in the region. Alaoui said the fund was expected to continue issuing green bonds, including green sukuk, or Islamic bonds, and to tap the onshore U.S. market in the coming years. Egypt, due to host the COP27 climate conference next month, became the region's first issuer of sovereign green bonds in 2020. First Abu Dhabi Bank (FAB.AD), which taps the market regularly and is one of the region's most active green issuer, followed up PIF's transaction a day later with a sale of $700 million worth of green bonds.
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