Al Arabi Morning News

Transcription

1. Al Arabi Morning News Issue-1655 (07 September 2016) GCC Market Indices Current Close Previous Close Muscat Securities Market Saudi Stock Exchange Kuwait Stock Exchange Qatar Exchange Bahrain Stock Exchange Index 5,769.36 6,190.35 5,399.71 10,713.23 1,128.12 Index 5,748.56 6,204.08 5,380.80 10,839.73 1,135.26 Dubai Financial Market Abu Dhabi Securities Exchange 3,544.19 4,515.41 3,546.23 4,512.01 Change D/D MTD YTD Point 20.80 (13.73) 18.91 (126.50) (7.14) % 0.36 (0.22) 0.35 (1.17) (0.63) % 0.60 1.82 (0.37) (2.52) (1.23) % 6.72 (10.44) (3.84) 2.72 (7.22) (2.04) 3.40 (0.06) 0.08 1.14 0.99 12.48 4.83 Source: B lo o mberg, OA B invest World Markets* Country Value Change D/D Europe Commodity Prices* % FTSE 100 DAX CAC 40 United States DJIA United Kingdom Germany France 6,826.05 10,687.14 4,529.96 (53.37) 14.92 (11.12) (0.78) 0.14 (0.24) USA 18,538.12 46.16 0.25 S&P 500 NASDAQ USA USA 2,186.48 5,275.91 6.50 26.01 0.30 0.50 Asia Pacific NIKKEI 225 Japan 16,959.51 (120.67) (0.71) HANG SENG Hongkong 23,714.99 (73.94) (0.31) Arab Market Indices Tunis Se Index Tunis 5,443.91 0.34 0.01 EGX 30 Index Egypt 8,202.43 (68.33) (0.83) Palestine Sec. Exchange Palestine 516.10 - - Blom Stock Index Lebanon 1,143.62 0.45 0.04 Price Change USD USD % Brent Crude (per bbl) Updated 47.65 0.39 0.83 WTI Crude (per bbl) Updated 45.18 0.34 0.76 Oman Crude Oil (Last Closing) 43.82 (0.18) (0.41) 1,352.07 2.19 0.16 20.00 (0.04) (0.21) Platinum (per oz) 1,104.80 6.08 0.55 Copper, MT 4,620.00 (6.00) (0.13) Aluminium, MT 1,589.00 9.00 0.57 Lead, MT 1,946.50 (23.00) (1.17) Zinc, MT 2,321.00 (40.00) (1.69) 10,110.00 40.00 0.40 Gold100 OZ (per oz) Silver (per oz) Nickel, MT D/D Source: Bloomberg, OABinvest- at 7:30AM M uscat time Source: Bloomberg, OABinvest- at 7:30AM M uscat time Cross Rate for Major Currencies* Currency Code USD/1 Unit Units/1 USD Euro EUR 1.1182 0.8944 Bri ti s h Pound GBP 1.3357 0.7488 Ja pa ne s e Ye n JPY 0.0097 103.089 Oma ni Ri a l OMR 2.6062 0.3863 Source :Oanda, Not e: all prices/ indices are updat ed t ill 7.30 AM M uscat t ime.* market s are closed on Sat urday and Sunday 1
2. DOMESTIC NEWS Sultanate ’s 9th five-year plan in execution stage The world economic conditions resulting from the oil price drop at the second half of 2014 have significant effect on the economic decisions in the various countries of the world in general and on countries of the region in particular. Source: Oman Observer 1.2 mn passengers transported by Mwasalat since its launch Ahmed bin Ali al Balushi (pictured), CEO of Oman National Transport Company, Mwasalat, said the company will launch Al Khoudh-Sultan Qaboos University (SQU) route in September and Muscat-Duqm route during the last quarter of 2016. Source: Oman Observer Orpic plans strategic fuel reserve at Al Jifnain in Oman Orpic, the Sultanate’s refining and petrochemicals flagship, plans to develop its high-tech fuel storage and distribution terminal at Al Jifnain on the outskirts of Muscat Governorate, into a national strategic reserve in the next phase of its expansion. Source: Oman Observer Ministry extends block 50 concession for another three years Singapore-based Rex International Holding said that the Ministry of Oil and Gas (MoG) has extended an exploration and production sharing agreement with its subsidiary Masirah Oil for Block 50 for another three years from the end of the current phase to March 2020. Source: Times of Oman Omantel receives bid for WorldCall stake Oman Telecommunications Company (Omantel) on Tuesday said that the company has received another non-binding offer from WorldCall Services Limited, a Pakistan-based company, to acquire Omantel’s sharers in Worldcall Telecom Limited Company in Pakistan. Source: Times of Oman Market for commercial trucks picking up, says Ford Trucks’ regional chief Market for commercial trucks started showing signs of recovery in Oman and other Gulf states, thanks to ongoing construction activities and new economic strategies adopted by different governments. Source: Times of Oman REGIONAL NEWS Ex MMG chief Al Mojil says CMA should free assets to pay shareholders In an exclusive interview with Argaam, Adel Al Mojil, former chairman of Mohammad al Mojil Group (MMG) says the Saudi market regulator should restore the company’s frozen assets in order to be able to pay back shareholders and lenders. Source: Argaam Dubai’s Deyaar, Millennium & Copthorne ink deal for 3 hospitality projects Dubai-listed Deyaar Development has inked a deal with Millennium & Copthorne to operate three hospitality projects in the emirate, the developer said on Tuesday during the Cityscape exhibition. Source: Argaam Saudi Arabia sees MSCI inclusion by 2018-end, says Al-Jadaan Saudi Arabia’s market regulator, the Capital Market Authority (CMA) is on its way to joining the MSCI Emerging Markets’ index in 2018, after the kingdom’s market regulated amended its regulations to give foreign investors greater access to its stock exchange, CMA chairman Mohammed Al-Jadaan told Bloomberg. Source: Argaam 2
3. Saudi Arabia Said to Weigh Canceling $20 Billion of Projects Saudi Arabia is intensifying efforts to shrink the highest budget deficit among the world’s biggest 20 economies, aiming to cancel more than $20 billion of projects and slash ministry budgets by a quarter, people familiar with the matter said. Source: Bloomberg Barclays Egypt attracts two bidders, from Morocco & UAE, in sale process The sale of British bank Barclays' Egyptian business has attracted bids from the two largest banks in Morocco and the United Arab Emirates, two sources familiar with the matter said on Tuesday. Source: Zawya Takaful premiums up 20% in 2 years Islamic insurers in the Gulf Corporate Council (GCC) region saw gross contributions (gross premiums) increase by an impressive 20 per cent or so year-on-year in 2014 and 2015. Source: Oman Tribune Saudi's ADC weighs bid for land rig operator Dalma –sources Saudi Arabia's Arabian Drilling Company (ADC) is considering bidding for Dalma Energy, sources told Reuters, in a deal which could value the land rig operator at more than $500 million. Source: Zawya Contractors for Expo 2020 works to be named soon The initial works on the Expo 2020 site have commenced — with the land now ready and the Expo Dubai Bureau set to announce the names of contractors executing the infrastructure work. Source: Zawya Jarir’s sales hit by lower government spending, says chairman Retail spending at Jarir Marketing Co.’s stores have witnessed a decline due to lower government spending, although consumer purchases were in the high single digits, chairman Muhammad Alagil was quoted as saying by Reuters on Monday. Source: Argaam S&P revises outlook on Wataniya to stable; affirms at ‘BBB’ S&P Global Ratings has revised its outlook on Saudi-listed Wataniya Insurance Co. to stable from negative and affirmed its “BBB” counterparty credit and financial strength ratings on the insurer, the ratings agency said in a report. Source: Argaam INTERNATIONAL NEWS Asia stocks hit one-year high as soft U.S. data quells Fed hike talk The dollar took a tumble and Asian stocks rose to one-year highs on Wednesday after surprisingly weak U.S. services sector activity put paid to already slim chances of an interest rate hike by the Federal Reserve as early as this month. Source: Reuters Fed's Williams says U.S. economy in good shape, wants rate hike A top Federal Reserve official on Tuesday repeated his call for gradual interest rate hikes, evidently unfazed by a slowdown in U.S. job gains and sluggishness in the services sector that now has traders betting against any rate hike at all this year. Source: Reuters Oil edges lower amid scepticism about output freeze Oil prices inched lower on Wednesday as market participants remained skeptical that producers will reach an agreement to freeze output to rein in a global supply glut. Source: Reuters 3
4. UBS Handed Setback in $2 Billion Mortgage Buy-Back Lawsuit A UBS Group AG unit was found by a federal judge to have violated some contracts with mortgage-backed securities trusts that hold loans, putting it at risk of having to buy back more loans or pay damages in a $2 billion lawsuit. Source: Bloomberg Oman Arab Bank - Investment Management Group (IMG) PO Box 2010, Ruwi, 112, Muscat-Oman. Tel: +96824754576 Fax: +96824125125 , Web site: http://www.oabinvest.com , E-mail: research@oabinvest.com Disclaimer: This report has been prepared and issued by the IMG-Oman Arab Bank SAOC on the basis of publicly available information. While the utmost care has been taken to ensure that the facts stated are accurate, neither Oman Arab Bank SAOC nor any of its employees shall be in any way responsible for the contents. 4