The BI-ME eNewsletter
7th November, 2009, 17:19
Posted: November 7, 2009
INTERNATIONAL. Arab stock markets plummeted for the second week in a row, reflecting retreating confidence on the part of investors who appeared increasingly geared to the performance of global bourses.
INTERNATIONAL. Roubini said oil's jump to US$80 a barrel is unjustified and that a run to US$100 may cause economic stress the way record highs near US$150 did last year.
LEBANON. The Lebanese government has appointed Bank of Beirut SAL to lead the sale of US$500 million in Eurobonds.
INTERNATIONAL. The contract is Aramco's first-ever integrated turnkey drilling award, as part of a strategy to increase collaboration with major oilfield service providers.
MIDDLE EAST BUSINESS SECTORS
MIDDLE EAST BUSINESS COMMENT & ANALYSIS
date:Posted: November 6, 2009
INTERNATIONAL. The gold market operates on a fractional reserve basis. On average there are several claims of ownership on each bar. According to Comex warehouse data there is only 66 tons of registered gold backing 1465 tons for future delivery, or enough to cover 4.5% of outstanding contracts.
date:Posted: November 6, 2009
INTERNATIONAL. Marc Faber said he has some short-term concerns about commodity prices including gold.
He is also reluctant to invest in bonds.
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date:Posted: November 4, 2009
INTERNATIONAL. Rogers said many commodities are still down from record highs. The price of gold will double to at least US$2,000 an ounce in the next decade, he said. Roubini thinks this is 'utter nonsense.'
MIDDLE EAST COUNTRIES
INTERNATIONAL. Saks Fifth Avenue will host its first ever 'winter wonderland' event in partnership with Swarovski, with a magical unveiling set to illuminate the entire Dubai store in crystals for the season.
Inevitable inflation will see gold's upside scenario at US$1,200, says Richard GrayPosted: October 31, 2009
INTERNATIONAL. It's been a dollar vs. gold story ever since the economy ran into trouble last fall, according to Blackmont Metals and Mining Analyst Richard Gray, who sees inevitable inflation down the road.
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