Iran plans to buy 114 Airbus jets on Rouhani’s Europe visit - FT.com:
"Iran is planning to sign a contract with European aircraft maker Airbus to buy 114 planes in what would be the first big deal to emerge from Tehran’s landmark nuclear pact with global powers.
The Airbus deal is the highlight of a visit to Rome and Paris this week by President Hassan Rouhani that is turning into a business bonanza.
Following the implementation of the nuclear accord last week, and the lifting of many sanctions, Mr Rouhani’s government is determined to show Iranians the economic benefits of its diplomacy."
'via Blog this'
Sunday 24 January 2016
‘Ushers and butlers’ … how fawning politicians welcomed world’s rich | UK news | The Guardian
‘Ushers and butlers’ … how fawning politicians welcomed world’s rich | UK news | The Guardian:
"Politicians are acting as “ushers and butlers” to the world’s wealthy, allowing the seemingly unstoppable construction of mansions, mega-basements and luxury apartments in London at the expense of housing for the poor and middle classes.
These are the claims made by researchers from Goldsmiths, Sheffield and York universities following a two-year study of the capital’s super-rich neighbourhoods. They conclude that London has become one of a handful of international havens for the very wealthy, thanks to central and local government kowtowing to their demands.
The deference of the UK government has facilitated the construction and extension of mega-mansions for the several thousand ultra-high net worth individuals, with assets of at least £21m, and the 80 billionaires who now live in London. This has driven up house prices, leaving the “majority of precarious white collar and manual service class workers unable to afford a mortgage”."
'via Blog this'
"Politicians are acting as “ushers and butlers” to the world’s wealthy, allowing the seemingly unstoppable construction of mansions, mega-basements and luxury apartments in London at the expense of housing for the poor and middle classes.
These are the claims made by researchers from Goldsmiths, Sheffield and York universities following a two-year study of the capital’s super-rich neighbourhoods. They conclude that London has become one of a handful of international havens for the very wealthy, thanks to central and local government kowtowing to their demands.
The deference of the UK government has facilitated the construction and extension of mega-mansions for the several thousand ultra-high net worth individuals, with assets of at least £21m, and the 80 billionaires who now live in London. This has driven up house prices, leaving the “majority of precarious white collar and manual service class workers unable to afford a mortgage”."
'via Blog this'
Europe's big banks remain wary of doing business with Iran | World news | The Guardian
Europe's big banks remain wary of doing business with Iran | World news | The Guardian:
"A week after the lifting of sanctions against Iran, major European banks are still reluctant to handle Iranian payments as they remain wary of being the first to test the reaction of US authorities.
Despite guidance issued by the US treasury aimed at reassuring Europe that it was permissible to do business with Iran, excluding a number of entities and individuals that remain blacklisted, the continent’s big banks still err on the side of caution.
The Guardian approached 10 banks this week to see if they would process Iranian payments. The majority were unwilling to disclose whether they had plans to deal with Iran, a few said there was no change in their existing policy, and the London-based Standard Chartered, which was fined £400m by the US authorities in 2012, issued a statement to make clear it was not dealing with anyone or any entity that had anything to do with Iran."
'via Blog this'
"A week after the lifting of sanctions against Iran, major European banks are still reluctant to handle Iranian payments as they remain wary of being the first to test the reaction of US authorities.
Despite guidance issued by the US treasury aimed at reassuring Europe that it was permissible to do business with Iran, excluding a number of entities and individuals that remain blacklisted, the continent’s big banks still err on the side of caution.
The Guardian approached 10 banks this week to see if they would process Iranian payments. The majority were unwilling to disclose whether they had plans to deal with Iran, a few said there was no change in their existing policy, and the London-based Standard Chartered, which was fined £400m by the US authorities in 2012, issued a statement to make clear it was not dealing with anyone or any entity that had anything to do with Iran."
'via Blog this'
Iran marks comeback with talks to buy 160 European planes | Reuters
Iran marks comeback with talks to buy 160 European planes | Reuters:
"Iran unveiled an expanded shopping list for more than 160 European planes - including 8 superjumbos - and dangled another big order in front of Boeing (BA.N) at Tehran's first major post-sanctions business gathering on Sunday.
In a sign of Tehran's determination to compete with established carriers across the Gulf, Transport Minister Abbas Akhoondi said Iran's emergence from isolation would restore a "natural balance" in the region and urged foreigners to invest.
"I hold your hands in friendship," he told an audience of 300 airlines, suppliers, lessors and bankers at an aviation conference in Tehran."
'via Blog this'
"Iran unveiled an expanded shopping list for more than 160 European planes - including 8 superjumbos - and dangled another big order in front of Boeing (BA.N) at Tehran's first major post-sanctions business gathering on Sunday.
In a sign of Tehran's determination to compete with established carriers across the Gulf, Transport Minister Abbas Akhoondi said Iran's emergence from isolation would restore a "natural balance" in the region and urged foreigners to invest.
"I hold your hands in friendship," he told an audience of 300 airlines, suppliers, lessors and bankers at an aviation conference in Tehran."
'via Blog this'
Kuwait Plans $100 Billion Sovereign Fund, Al-Anba Reports - Bloomberg Business
Kuwait Plans $100 Billion Sovereign Fund, Al-Anba Reports - Bloomberg Business:
"Kuwait plans a new state-owned fund to manage as much as $100 billion in local assets with the goal of selling them to private investors in five to seven years, Al-Anba newspaper reported.
The new sovereign wealth fund will include local assets managed by Kuwait Investment Authority, which has been burdened by its domestic mandate and will focus more on its international portfolio, Al-Anba reported, citing unidentified officials. Stakes in local companies, as well as power and water projects, will be included in the new fund, it said.
A slump in oil is prompting energy producers across the Middle East to consider savings and project delays as they grapple with crude’s descent to near a 12 year low. Saudi Arabia’s net foreign assets dropped to $640 billion in October, the lowest level in three years, while Kuwaiti Finance Minister Anas Al-Saleh has raised the prospect of introducing income, corporate and sales taxes to compensate for lost oil revenue."
'via Blog this'
"Kuwait plans a new state-owned fund to manage as much as $100 billion in local assets with the goal of selling them to private investors in five to seven years, Al-Anba newspaper reported.
The new sovereign wealth fund will include local assets managed by Kuwait Investment Authority, which has been burdened by its domestic mandate and will focus more on its international portfolio, Al-Anba reported, citing unidentified officials. Stakes in local companies, as well as power and water projects, will be included in the new fund, it said.
A slump in oil is prompting energy producers across the Middle East to consider savings and project delays as they grapple with crude’s descent to near a 12 year low. Saudi Arabia’s net foreign assets dropped to $640 billion in October, the lowest level in three years, while Kuwaiti Finance Minister Anas Al-Saleh has raised the prospect of introducing income, corporate and sales taxes to compensate for lost oil revenue."
'via Blog this'
After sanctions, Iranian and foreign firms await the good times | Reuters
After sanctions, Iranian and foreign firms await the good times | Reuters:
"A decade ago, Foad Fanaei packed his belongings and left sanction-hit Iran in the hope that the family's engineering firm would thrive in Qatar.
Starting up in the Gulf Arab state proved to be hard for a 27-year-old outsider who had to grapple with Qatar's complex business laws and navigate the international financial constraints imposed over Iran's nuclear program.
Since then Fanaei has endured years of financial losses but kept the business going in the hope that one day the nuclear-related sanctions would be lifted. Cherishing the same hope, his father continued to run a parent company in Iran."
'via Blog this'
"A decade ago, Foad Fanaei packed his belongings and left sanction-hit Iran in the hope that the family's engineering firm would thrive in Qatar.
Starting up in the Gulf Arab state proved to be hard for a 27-year-old outsider who had to grapple with Qatar's complex business laws and navigate the international financial constraints imposed over Iran's nuclear program.
Since then Fanaei has endured years of financial losses but kept the business going in the hope that one day the nuclear-related sanctions would be lifted. Cherishing the same hope, his father continued to run a parent company in Iran."
'via Blog this'
MIDEAST STOCKS-Major bourses rebound after oil, global stock markets recover | Reuters
MIDEAST STOCKS-Major bourses rebound after oil, global stock markets recover | Reuters:
"Major stock markets in the Middle East rebounded on Sunday, joining the global market rally at the end of last week as investors took solace in the bounce-back in crude oil prices.
Brent surged 10 percent to $32.18 a barrel on Friday, as bearish traders who had taken out record short positions scrambled to close them.
The benchmark S&P 500 U.S. equity index rallied 2 percent and registered its first positive week of 2016 and the MSCI All Country World Index rose 2.7 percent."
'via Blog this'
"Major stock markets in the Middle East rebounded on Sunday, joining the global market rally at the end of last week as investors took solace in the bounce-back in crude oil prices.
Brent surged 10 percent to $32.18 a barrel on Friday, as bearish traders who had taken out record short positions scrambled to close them.
The benchmark S&P 500 U.S. equity index rallied 2 percent and registered its first positive week of 2016 and the MSCI All Country World Index rose 2.7 percent."
'via Blog this'
Mideast Stocks Advance After Oil Rebounds Most in Five Months - Bloomberg Business
Mideast Stocks Advance After Oil Rebounds Most in Five Months - Bloomberg Business:
"Stocks across Middle Eastern markets surged after oil prices rebounded and global equities rallied.
The DFM General Index climbed 5.2 percent, the most in more than a year, to close at 2,757.08 as traders exchanged 415 million shares, 63 percent above the 12-month daily average volume. Qatar’s QE Index and Abu Dhabi’s ADX General Index climbed 4.6 percent and 2.7 percent, respectively. Saudi Arabia’s Tadawul All Share Index soared as much as 6.8 percent before paring gains to 3.6 percent at 2:23 p.m. in Riyadh.
Oil advanced the most since August on Friday, boosting the outlook for the countries of the six-nation Gulf Cooperation Council, for which crude remains the biggest source of revenue. The equity advance also followed Friday’s surge in world stocks, the sharpest rally since June 2012, amid speculation central banks will expand stimulus measures to counter turmoil in financial markets."
'via Blog this'
"Stocks across Middle Eastern markets surged after oil prices rebounded and global equities rallied.
The DFM General Index climbed 5.2 percent, the most in more than a year, to close at 2,757.08 as traders exchanged 415 million shares, 63 percent above the 12-month daily average volume. Qatar’s QE Index and Abu Dhabi’s ADX General Index climbed 4.6 percent and 2.7 percent, respectively. Saudi Arabia’s Tadawul All Share Index soared as much as 6.8 percent before paring gains to 3.6 percent at 2:23 p.m. in Riyadh.
Oil advanced the most since August on Friday, boosting the outlook for the countries of the six-nation Gulf Cooperation Council, for which crude remains the biggest source of revenue. The equity advance also followed Friday’s surge in world stocks, the sharpest rally since June 2012, amid speculation central banks will expand stimulus measures to counter turmoil in financial markets."
'via Blog this'
RPT-Specialist funds pick up Iran stocks ahead of warier big investors | Reuters
RPT-Specialist funds pick up Iran stocks ahead of warier big investors | Reuters:
"Two decades after he hauled a suitcase full of cash onto the floor of the Moscow stock exchange to buy up shares in the aftermath of communism, Dominic Bokor-Ingram has taken a similar early punt on Iran.
The Briton launched a joint venture fund with Iranian investment group Turquoise Partners on Sunday, just one day after the announcement most international sanctions on Iran would be lifted in return for restrictions on Tehran's nuclear programme.
He was not alone. Clemente Cappello, CEO of London-based Sturgeon Capital, bought the first stocks for his new Iran fund in December."
'via Blog this'
"Two decades after he hauled a suitcase full of cash onto the floor of the Moscow stock exchange to buy up shares in the aftermath of communism, Dominic Bokor-Ingram has taken a similar early punt on Iran.
The Briton launched a joint venture fund with Iranian investment group Turquoise Partners on Sunday, just one day after the announcement most international sanctions on Iran would be lifted in return for restrictions on Tehran's nuclear programme.
He was not alone. Clemente Cappello, CEO of London-based Sturgeon Capital, bought the first stocks for his new Iran fund in December."
'via Blog this'
IMF cuts UAE’s growth forecast for 2016 as oil prices crash | The National
IMF cuts UAE’s growth forecast for 2016 as oil prices crash | The National:
"The IMF has again cut the UAE’s growth forecast for this year on collapsing oil prices, a worsening Chinese economy and looming regional public spending cuts.
The UAE will grow at 2.6 per cent this year, a cut of 0.5 of a percentage point against the fund’s October projection of 3.1 per cent growth, and the slowest growth rate the country has experienced since 2010.
The UAE’s fiscal deficit is expected to widen to 7.5 per cent of GDP, the fund expects, but will depend heavily on what happens to the oil price this year. The IMF had forecast a deficit for this year of 4 per cent."
'via Blog this'
"The IMF has again cut the UAE’s growth forecast for this year on collapsing oil prices, a worsening Chinese economy and looming regional public spending cuts.
The UAE will grow at 2.6 per cent this year, a cut of 0.5 of a percentage point against the fund’s October projection of 3.1 per cent growth, and the slowest growth rate the country has experienced since 2010.
The UAE’s fiscal deficit is expected to widen to 7.5 per cent of GDP, the fund expects, but will depend heavily on what happens to the oil price this year. The IMF had forecast a deficit for this year of 4 per cent."
'via Blog this'
MIDEAST STOCKS-Saudi, Egypt surge more than 3 pct in early trade | Reuters
MIDEAST STOCKS-Saudi, Egypt surge more than 3 pct in early trade | Reuters:
"Saudi Arabia and Egypt's stock markets rebounded more than 3.0 percent in early trade on Sunday, as investors took solace in the end of week rebound in oil prices and global bourses.
Saudi's index surged more than 6.0 percent in the opening minutes of trade and touched 5,834 points, before falling back to 5,680 points, but was still up 4.0 percent.
Petrochemical stocks, which have been battered by weakness in oil prices, carried the bourse higher. The sub-sector index climbed over 6.5 percent in first 10 minutes of trade."
'via Blog this'
"Saudi Arabia and Egypt's stock markets rebounded more than 3.0 percent in early trade on Sunday, as investors took solace in the end of week rebound in oil prices and global bourses.
Saudi's index surged more than 6.0 percent in the opening minutes of trade and touched 5,834 points, before falling back to 5,680 points, but was still up 4.0 percent.
Petrochemical stocks, which have been battered by weakness in oil prices, carried the bourse higher. The sub-sector index climbed over 6.5 percent in first 10 minutes of trade."
'via Blog this'
MIDEAST STOCKS-UAE, Qatar join global equities rebound | Reuters
MIDEAST STOCKS-UAE, Qatar join global equities rebound | Reuters:
"Major Gulf bourses soared more than 4.0 percent in early trade on Sunday, joining a global stock market rally after oil prices rocketed at the end of last week.
Dubai's index rebounded 6.4 percent in the opening minutes of trade, recouping most of last week's losses.
Arabtec and Emaar Properties jumped 10.9 and 8.5 percent respectively."
'via Blog this'
"Major Gulf bourses soared more than 4.0 percent in early trade on Sunday, joining a global stock market rally after oil prices rocketed at the end of last week.
Dubai's index rebounded 6.4 percent in the opening minutes of trade, recouping most of last week's losses.
Arabtec and Emaar Properties jumped 10.9 and 8.5 percent respectively."
'via Blog this'
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