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Major Gulf markets mixed ahead of U.S. inflation data
  + stars: | 2022-11-08 | by ( ) www.reuters.com   time to read: +2 min
Nov 8 (Reuters) - Major stock markets in the Gulf were mixed in early trade on Tuesday as crude oil prices fell and caution prevailed ahead of the release of U.S. inflation data. Crude prices hit their highest since August on Monday amid speculation leaders in top crude importer China were weighing an exit from the country's strict COVID-19 restrictions. Chinese health authorities doused that speculation on Saturday, reaffirming the country's commitment to its strict zero-COVID policy. State developer Nakheel secured 17 billion dirhams ($4.63 billion) in financing from local banks for new projects, including Dubai Islands and other waterfront developments. read moreThe transaction comprises 11 billion dirhams in refinancing and additional funds of 6 billion dirhams through a syndicate of three local lenders.
"Humanity has a choice: cooperate or perish,” Guterres told delegates gathered in the seaside resort town of Sharm el-Sheikh. And our planet is fast approaching tipping points that will make climate chaos irreversible,” he said. Signatories to the 2015 Paris climate agreement pledged to achieve a long-term goal of keeping global temperatures from rising by more than 1.5°C above pre-industrial levels. Guterres said that goal will only stay alive if the world can achieve net zero emissions by 2050. The World Trade Organization, meanwhile, said in a report published on Monday that it should tackle trade barriers for low carbon industries to address the role of global trade in driving climate change.
COP27: What are they saying at the climate summit?
  + stars: | 2022-11-07 | by ( ) www.reuters.com   time to read: +4 min
Nov 7 (Reuters) - World leaders, policymakers and delegates from nearly 200 countries are at the COP27 U.N. climate summit in Egypt, where they hope to keep alive a goal to avert the worst impacts of climate change. MIA MOTTLEY, PRIME MINISTER OF BARBADOS[1/4] Secretary-General of the United Nations Antonio Guterres speaks during the COP27 climate summit, in Sharm el-Sheikh, Egypt November 7, 2022. FORMER U.S. VICE PRESIDENT AL GORE"We have a credibility problem all of us: We're talking and we're starting to act, but we're not doing enough." MA'RUF AMIN, VICE PRESIDENT OF INDONESIA"One year after Glasgow, there has been no significant global progress. For this reason COP27 must be used not only to enhance ambition, but also implementation, including the fulfilment of support from developed to developing countries."
Brent crude futures recouped most losses after dropping by more than $1/bbl earlier in the session on China lockdowns worries. read moreSaudi Arabia's benchmark index (.TASI) rose 0.7%, extending gains from the previous session, led by a 3% rise in Riyad Bank (1010.SE). Dubai's main share index (.DFMGI) gained 0.9%, with blue-chip developer Emaar Properties (EMAR.DU) rising 2.3%. In ABu Dhabi, the index (.FTFADGI) advanced 1.2% to hit a record high, buoyed by a 2.1% jump in the country's biggest lender, First Abu Dhabi Bank (FAB.AD). Outside the Gulf, Egypt's blue-chip index (.EGX30) advanced 2.4%, as most of the stocks on the index were in positive territory.
Sheikh Tahnoun bin Zayed Al Nahyan, shown in December, is the U.A.E.’s national security adviser and brother of its president. ABU DHABI—The United Arab Emirates sent its national security adviser to Riyadh in September on a secret mission to dissuade Saudi Arabia’s crown prince from pushing an oil-production cut that would anger the U.S. and risk painting oil producers as Russian allies, people familiar with the trip said. The Emirati official, Sheikh Tahnoun bin Zayed Al Nahyan, a brother of the U.A.E.’s president, met with Saudi Crown Prince Mohammad bin Salman and echoed Washington’s view that reducing output wasn’t economically necessary and warned of geopolitical fallout, the people said.
A helicopter flies over the downtown skyline, amid the coronavirus disease (COVID-19) outbreak, as seen from the Cleveland Clinic hospital in Abu Dhabi, United Arab Emirates, April 20, 2020. ADQ, the smallest of Abu Dhabi's three main sovereign wealth funds, began in 2018 as a vehicle for holding state assets. ADQ and the UAE foreign ministry did not respond to emailed requests for comment. Among recent deals, ADQ launched a $300 million technology fund in March with Turkey's sovereign wealth fund to invest in venture capital funds and opportunities inside Turkey. "They are the ones that promote UAE economic diplomacy, its regional and global influence," he said.
According to UAE state media WAM, UAE President Sheikh Mohamed bin Zayed al-Nahyan (pictured) and his Russian counterpart Vladimir Putin will be discussing the countries' "friendly relations," alongside "regional and international issues and developments of common interest." The president of the United Arab Emirates, Sheikh Mohamed bin Zayed al-Nahyan, will head to Russia on Tuesday to meet his counterpart Vladimir Putin. According to UAE state media WAM, both leaders will be discussing the countries' "friendly relations," alongside "regional and international issues and developments of common interest." The UAE ruler's visit comes a week after OPEC+, an alliance of oil producers which includes Russia and the UAE, agreed to impose deep output cuts to shore up crude prices despite calls from the U.S. to pump more to bolster the global economy. Following the announcement of the UAE leader's visit, Dubai's former finance chief said on Twitter that Mohamed was heading to Russia to "[defuse] a European war that exhausted the world."
Oct 11 (Reuters) - President Vladimir Putin said on Tuesday that Russia was not working against anyone on energy markets, a week after Washington criticised a decision by OPEC+ to steeply cut oil production. Speaking with the United Arab Emirates' President Sheikh Mohammed bin Zayed al-Nahyan, Putin said Russia aimed to create stability on energy markets and ensure that supply and consumption were balanced. Register now for FREE unlimited access to Reuters.com Register"Our actions are aimed at creating stability in the global energy markets, so that both consumers of energy resources and those involved in production, suppliers to the global markets feel calm, stable and confident. U.S. President Joe Biden has called on his administration and Congress to explore ways to boost U.S. energy production and reduce OPEC's control over energy prices after the cartel's "shortsighted" production cuts. The Kremlin on Sunday praised OPEC+ for agreeing production cuts that it said had successfully countered the "mayhem" sown by the United States in global energy markets.
Oct 10 (Reuters) - The United Arab Emirates foreign ministry said on Monday that President Sheikh Mohammed bin Zayed al-Nahyan's visit to Russia aims to help reach "effective political solutions" to the Ukrainian crisis, state news agency WAM reported. The ministry added that UAE "seeks to achieve positive results to reduce military escalation, reduce humanitarian repercussions, and reach a political settlement to achieve global peace and security." Register now for FREE unlimited access to Reuters.com RegisterReporting by Nayera Abdallah Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.
UAE president to meet Russia's Putin on Tuesday -WAM
  + stars: | 2022-10-10 | by ( ) www.reuters.com   time to read: +1 min
DUBAI, Oct 10 (Reuters) - United Arab Emirates President Sheikh Mohammed bin Zayed al-Nahyan will travel to Russia on Tuesday to meet with President Vladimir Putin, UAE state news agency WAM reported on Monday. The announcement came less than a week after OPEC+, a group of oil producers that includes the UAE and Russia, agreed steep oil production cuts in defiance of U.S. pressure. The decision by Saudi-led OPEC and its Russia-led allies, the grouping known as OPEC+, has further strained relations between Washington and its traditional Gulf allies in Riyadh and Abu Dhabi, sources have said. read moreU.S. President Joe Biden's administration had pushed hard to prevent the production cut, hoping to keep a lid on gasoline prices ahead of midterm elections in which his Democratic Party could lose control of Congress. Biden flew to Jeddah in July for a Gulf summit to try to mend relations, but left without securing a deal for higher oil production.
UAE signs energy agreement with Germany's Scholz
  + stars: | 2022-09-25 | by ( ) www.reuters.com   time to read: +1 min
German Chancellor Olaf Scholz gestures during his joint news conference with Georgian Prime Minister Irakli Garibashvili following their meeting in Berlin, Germany, September 14, 2022. REUTERS/Christian MangSept 25 (Reuters) - The president of the United Arab Emirates, Sheikh Mohammed bin Zayed al-Nahyan, has signed an agreement with German Chancellor Olaf Scholz that covers accelerating energy security and industrial growth, the state news agency (WAM) reported on Sunday. Abu Dhabi National Oil Company (ADNOC) signed an agreement to supply liquefied natural gas (LNG) to German utility RWE , the report said. ADNOC will deliver the first shipment in late 2022 for use in the trial operation of a floating natural gas terminal in Brunsbuettel, the report said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Moataz Mohamed; Editing by David ClarkeOur Standards: The Thomson Reuters Trust Principles.
IHC's bid is the latest in a long-running saga of moves to snap up stakes in GEA companies. Shares in investment holding company Grupo SURA (SIS.CN), the jewel in GEA's crown which owns the largest stake in Nutresa, rose almost 7% in the morning session. IHC is a partner of the Gilinski Group, stockbrokers told Reuters. If the latest bid is successful, Grupo Gilinski will become Nutresa's largest shareholder. Gilinski Group also secured a 38% stake in Grupo SURA following several bids and transactions last year.
Factbox: World leaders to attend Queen Elizabeth's funeral
  + stars: | 2022-09-12 | by ( ) www.reuters.com   time to read: +6 min
Canadian Prime minister Justin Trudeau and Sophie Gregoire Trudeau attend the funeral of Her Majesty Queen Elizabeth II in Westminster Abbey. Jack Hill/Pool via REUTERSRegister now for FREE unlimited access to Reuters.com RegisterLONDON, Sept 19 (Reuters) - Queen Elizabeth's state funeral will take place in London on Monday and a host of world leaders, royalty and other dignitaries will attend. Countries that have not been invited include Syria and Venezuela because London does not have normal diplomatic relations with those states. Britain has also not invited representatives from Russia, Belarus or Myanmar after it imposed economic sanctions on those countries. Related ContentFactbox: Plans for Queen Elizabeth's state funeral on MondayFactbox: Comments from crowds in London on Queen ElizabethFactbox: World leaders to attend Queen Elizabeth's funeralFactbox: Order of service for Queen Elizabeth's state funeralWindsor Castle, Queen Elizabeth's home and now final resting placeWestminster Abbey - traditional church for royals in life and death(This story was refiled to correct spelling of first name of Belize governor general)Register now for FREE unlimited access to Reuters.com RegisterCompiled by Farouq Suleiman and Kate Holton Editing by Deepa Babington and Frances KerryOur Standards: The Thomson Reuters Trust Principles.
As Russia bombs its neighbor, what has become the biggest European war since 1945 has had an outsized impact far south, in the Middle East. Here are four ways the Ukraine war has affected the Middle East over the last six months:Energy exporters are cashing inThe war has seen oil prices rise to as much as a 14-year high. Despite vowing to turn Saudi Arabia into a pariah, US President Joe Biden visited Saudi Arabia in a landmark trip last month. Saudi Arabia: #How_many_wives_would_you_takeSaudi men took to Twitter to ask each other how many wives they’d like to take. According to the 2019 report by the Doha International Forum called State of Marriage in the Arab World, information on polygamy in Saudi Arabia is not readily available.
Șeicul lui Manchester City le va achita fanilor toate cheltuielile pentru deplasarea la finala UCLProprietarul lui Manchester City, şeicul Mansour bin Zayed al Nayan, va plăti călătoria fanilor care vor asista la finala Ligii Campionilor la fotbal, pe 29 mai, la Porto, a anunţat clubul englez. Finala ar fi trebuit să aibă loc la Istanbul, însă a fost mutată în Portugalia, unde situaţia sanitară este mai bună. Pe lângă plata biletelor, fanii ar fi trebuit să suporte și costurile pentru testarea PCR obligatorie, ceea ce ar fi făcut aproape imposibilă deplasarea. Această iniţiativă vine la circa o lună după ce Manchester City a participat la proiectul eşuat al unei Super Ligi europene disidente, proiect care a stârnit nemulţumirea fanilor celor şase cluburi engleze implicate. City a fost printre primele cluburi care au renunţat la acest proiect, la mai puţin de 48 de ore după ce el a fost prezentat.
Persons: bin Zayed, Iniţiativa îşi Organizations: Manchester City, UCL, Ligii Campionilor, englez, City Locations: Porto, Istanbul, Portugalia, City, .
9 aprilie 2015: Președintele aliniază un curcubeu la Aeroportul Internațional Norman Manley înainte să plece de la Kingston, Jamaica. 16 aprilie 2015: Președintele se îndreaptă pe jos, prin grădina Casei Albe, spre sala unde este așteptat să semneze un act de reautorizare din 2015. 14 mai 2015: Președintele a găzduit un summit la Camp David cu Consiliul de Cooperare al Golfului. 8 iunie 2015: Președintele a fost la summitul G7 de la Krün, Germania. 13 iulie 2015: Președintele și personalul său de securitate națională zâmbesc la scurt timp după ce au fost informați despre acordul nuclear cu Iranul.
Persons: Pete Souza, Barack Obama, Alan Gross, Michelle Obama, Akira Cooper, Malia, Chuck Kennedy, Shaun Donovan, Montgomery, John Lewis . Fotograful, Edmund Pettus, Maxwell, Doamna, Marian Robinson, Norman Manley, Obama, cubanez Raul Castro, Președintele, Shinzo Abe, Washington, David, Laurel ., bin Mahmoud al - Said, J, Scott Thomson, Jeremy, Jeremy Bernard, Ben Rhodes, Ella, Joe Biden, Beau Biden, Sfântul Anton de, Cancelarul Angela Merkel, Katie Beirne, Rodgers, Biden, Papa Francisc . Acesta, șeic Mohammed Bin Zayed Al Nahyan, Ella Rhodes, națională Ben Rhodes, Vladimir Putin, Comediantul, Seinfeld Organizations: Casei, Prima, Oval, Albă, Air Force, Universitatea Tehnică din, Camera, World, Lincoln, Președintele, New Jersey ., Academia Navală, Whitney, Națională, Fotbal, FIFA, națională Locations: Cuba, Lawrence, Kansas, Akira, O’Neal, Selma, fluierând, Universitatea Tehnică din Georgia, Atlanta, Afganistanului, Elveția, Kingston, Jamaica, cubanez, american, Panama City, Panama, Japoniei, Oman, Camden, New Jersey, Annapolis, Maryland, Sfântul Anton de Padova, Wilmington, Carolina de Nord, Krün, Germania, New York, Dillingham, Alaska, Sud, Statele Unite, Abu Dhabi, Emiratele Arabe, Est, SUA, rus, Rusiei, Antalya, Turcia, San Bernardino, California
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