Wednesday, June 17, 2015

Weaker oil may pressure Gulf; Suez news positive for Egypt, Qatar’s secretive sovereign fund to restructure, say sources.

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Finance and Economy
Qatar's secretive sovereign fund to restructure, say sources
A spokesman for the QIA, which is estimated by industry tracker the Sovereign Wealth Center to have $304 billion of assets, declined to comment.
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Oman's Phoenix Power $146 mln float heavily oversubscribed
Phoenix Power is a vehicle which owns, maintains and operates the Sur Independent Power Project, which generates 2,000 megawatts of electricity and was officially inaugurated in April.
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Oil's turnaround may support Gulf markets

Stronger oil prices may buoy Gulf stock markets on Tuesday, but retail investors' disappointment with the slow pace of foreign fund inflows in Saudi Arabia and the approach of the Muslim holy month of Ramadan could cap any gains.
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Energy
Weaker oil may pressure Gulf; Suez news positive for Egypt
With corporate news flow drying up ahead of the Muslim holy month of Ramadan, oil prices are likely to be one of the main drivers of investor activity in the Gulf.
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El Sewedy Electric to develop solar power plant in Upper Egypt
Egypt is aiming for renewable energy to contribute 20 percent to the country's overall energy usage by 2020.
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OPEC says oil market oversupply to ease, but raises output again
If OPEC keeps pumping at May's rate, the report indicates there will be an excess supply of 440,000 bpd in the second half of 2015.
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Real Estate
Egypt enters into initial deal for 15 projects worth $10 bln with China
Financing agreements for the projects will be signed between late June and September, the ministry said in a statement.
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550 hotels under construction in Saudi Arabia

Experts and specialists in the Saudi tourist accommodation sector forecast that Saudi hotel brands are planning to increase their investments and expand outside the Kingdom through franchising, reports Saudi-based Al-Hayat.
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     News
Alwaleed says Twitter interim CEO Dorsey should not be permanent head
Jack Dorsey, a co-founder of Twitter, was named interim head on Thursday after chief executive Dick Costolo abruptly announced he was stepping down effective July 1.
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OMEGA family welcomes Oscar winner Eddie Redmayne
The extraordinary young talent was announced as an international brand ambassador for luxury Swiss watchmaker OMEGA
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Value Retail eyes GCC customers

"Through our different platforms, we work to raise awareness and to develop our relationship with GCC customers," says Desirée Bollier, CEO of Value Retail.
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France nears 1 bln euro Kuwait deal to sell Airbus helicopters
Over the past year, Paris has sealed more than $15 billion dollars of military contracts in the region, including with Egypt, Qatar and Saudi Arabia.
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