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Friday 24 July 2015
Iran eyes $185 billion oil and gas projects after sanctions | Reuters
Iran eyes $185 billion oil and gas projects after sanctions | Reuters:
"Iran on Thursday outlined plans to rebuild its main industries and trade relationships following a nuclear agreement with world powers, saying it was targeting oil and gas projects worth $185 billion by 2020.
Iran's Minister of Industry, Mines and Trade Mohammad Reza Nematzadeh said the Islamic Republic would focus on its oil and gas, metals and car industries with an eye to exporting to Europe after sanctions have been lifted, rather than simply importing Western technology.
"We are looking for a two-way trade as well as cooperation in development, design and engineering," Nematzadeh told a conference in Vienna."
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"Iran on Thursday outlined plans to rebuild its main industries and trade relationships following a nuclear agreement with world powers, saying it was targeting oil and gas projects worth $185 billion by 2020.
Iran's Minister of Industry, Mines and Trade Mohammad Reza Nematzadeh said the Islamic Republic would focus on its oil and gas, metals and car industries with an eye to exporting to Europe after sanctions have been lifted, rather than simply importing Western technology.
"We are looking for a two-way trade as well as cooperation in development, design and engineering," Nematzadeh told a conference in Vienna."
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MIDEAST STOCKS-Emaar Malls weighs on Dubai; SABIC down before earnings | Reuters
MIDEAST STOCKS-Emaar Malls weighs on Dubai; SABIC down before earnings | Reuters:
"Gulf stock markets traded in a narrow range on Thursday as the operator of the region's biggest mall in Dubai slightly missed earnings forecasts and other bourses lacked strong positive catalysts.
Dubai's index was virtually flat, while Emaar Malls Group (EMG), which operates Dubai Mall, and its parent Emaar Properties fell 1.5 percent and 0.5 percent respectively.
EMG reported a 43 percent rise in second-quarter net profit to 412 million dirhams ($112.2 million). Investment bank EFG Hermes had forecast EMG would make 445 million dirhams and Naeem brokerage had expected 425 million. Quarter-on-quarter, EMG's net profit fell 5 percent."
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"Gulf stock markets traded in a narrow range on Thursday as the operator of the region's biggest mall in Dubai slightly missed earnings forecasts and other bourses lacked strong positive catalysts.
Dubai's index was virtually flat, while Emaar Malls Group (EMG), which operates Dubai Mall, and its parent Emaar Properties fell 1.5 percent and 0.5 percent respectively.
EMG reported a 43 percent rise in second-quarter net profit to 412 million dirhams ($112.2 million). Investment bank EFG Hermes had forecast EMG would make 445 million dirhams and Naeem brokerage had expected 425 million. Quarter-on-quarter, EMG's net profit fell 5 percent."
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MIDEAST WEEKAHEAD-Speculators back in Dubai as Amlak shares surge | Reuters
MIDEAST WEEKAHEAD-Speculators back in Dubai as Amlak shares surge | Reuters:
"A surge in shares of Amlak Finance since they returned to Dubai's stock market last month has raised concerns about a new wave of unbridled speculation on one of the region's biggest exchanges.
The Islamic mortgage lender has soared about 150 percent since it restarted trading in early June after a six-year suspension due to debt problems.
At its latest close of 2.52 dirhams, the stock is far above levels considered fair value by fund managers, many of whom put its value well below 1 dirham."
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"A surge in shares of Amlak Finance since they returned to Dubai's stock market last month has raised concerns about a new wave of unbridled speculation on one of the region's biggest exchanges.
The Islamic mortgage lender has soared about 150 percent since it restarted trading in early June after a six-year suspension due to debt problems.
At its latest close of 2.52 dirhams, the stock is far above levels considered fair value by fund managers, many of whom put its value well below 1 dirham."
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