Good times continue for the GCC
Thursday, July 31st, 2008 Posted in Oil, Regional News | No Comments »2008 GDP for the GCC is set to surpass $1T (+36% yoy) along with an impressive doubling of cement capacity by 2010, not to mention similar increases expected in petrochemicals, natural gas and other industries. Economic and investment boom ...
For Saudi Aramco, sky is the limit
Thursday, July 31st, 2008 Posted in Oil | No Comments »At an estimated production cost of $2.00 per barrel, Saudi Aramco's annual net revenues are expected to top an eye-popping $200 billion. The world's largest oil producer has also set its sights on becoming a leading petrochemical manufacturer, where a ...
Oil Futures Slip But Still Pumped Up
Tuesday, July 29th, 2008 Posted in Oil | No Comments »This is not the first time a prominent figure from OPEC has publicly commented on high oil -- emphasis this time around on geopolitical pressures. (See clip excerpt below.) Obviously the weak dollar and speculators have been major factors ...
HSBC head sees convergence between Islamic and conventional markets
Thursday, July 24th, 2008 Posted in Islamic Finance | No Comments »Mr. Mukhtar Hussain, HSBC global CEO for the Middle East and North Africa, forsees significant and sustained growth in Islamic financial services driven by public spending on infrastructure, estimated by one account at a staggering $2.1 trillion. See Financial Times article.
McDonald’s on the march!
Thursday, July 24th, 2008 Posted in General | No Comments »American fast food icon McDonald's reports almost 9% (8.8%) gains in its Asia Pacific, Middle East, and Africa stores, leading the produce-consuming giant to analyst-trumping gains in the second quarter of 2008. At a time when US market volatility confounds ...
GE, Abu Dhabi Announce $8B JV — Reuters
Tuesday, July 22nd, 2008 Posted in JVs, SWF | No Comments »General Electric shares may have short circuited after the company's surprising earnings miss earlier this year. HOWEVER, Mr. Immelt clearly has his eyes set on high growth and Abu Dhabi's investment arm is showing unequivocal support of its partner ...
Islamic bonds rising
Tuesday, July 22nd, 2008 Posted in Industrial investment, Islamic Finance | No Comments »Investors from Europe and the US seeking to increase their exposure in the Gulf region helped boost sales of Islamic bonds to $17 billion at the end of June, representing a 17 perecent increase over the previous year. Fueled by soaring oil prices, the ...
Australia’s Myer soon to outfit Dubai homes
Tuesday, July 22nd, 2008 Posted in Retail | No Comments »Australia's largest department store, Myer, will be opening its first overseas stores in Dubai in 2009 before opening another four stores in the UAE, reports the Sydney Morning Herald (7/21). "Three of the 10 largest shopping malls in the world ...
Collective US net worth over a barrel
Monday, July 21st, 2008 Posted in Oil | No Comments »Despite robust growth that has seen collective US net worth rise from $3.4 trillion in 1970 to a current level of $56 trillion, the price of a single barrel of oil has dramatically exploded during the same period from $3.18 to $140.00. The net worth of America, as ...
Airbus, Boeing gain on major Abu Dhabi order
Tuesday, July 15th, 2008 Posted in Regional News | No Comments »The emirate continues its broad expansion into the global airlines market as strong petroleum prices boost its purchasing power. In all, $25B was laid down for major orders for the ME as the region continues to grow its network of ...
