4 Burst results for "Aramco Sabic"

"aramco sabic" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

11:49 min | 2 years ago

"aramco sabic" Discussed on Bloomberg Radio New York

"The U. S. soccer stable circle from president Donald Trump the the Chinese did not behave well over the virus in the early stages and that again suggestions it may have come from inside the birch tree in Wuhan yeah I've seen it in the V. impact may be if it's any more trade restrictions on China that could be the result so it's just another what are you ready for investors after we had that tempted valued Welch as in April is much more risk all of this morning yes Europe is opening up slowly very very slowly trying to restart economies in the U. K. is thinking about the but there's still lots of fish is about the direction of the global economy so the moment as a P. five hundred E. mini futures is down by one percent every year a few socks fifty features which is something three and a half percent right now China Japan close for holidays and in terms of of the rest of the markets the embassy on Hong Kong index down by three point four percent hang Seng dropping almost four percent of the cost you'll see index down two and a half percent so a few markets in Asia open off the roof the appalling PMI numbers hitting a record low in Indonesia Malaysia Vietnam the Philippines we get a lot of European PMI data today from its V. Spain and Sweden so this lump expected public to be no bass AT Europe and in the oil markets right now another drop full features the retailer could feature some seven percent to eighteen dollars thirty five Brent crude twenty five dollars ninety eight so sit down by one point seven percent I thought it was interesting yesterday vulture in Saudi Arabia the Tadawul index slumping almost seven and a half percent why is that well the response to the old price shock coming from the finance minister talking about painful measures including deep spending cuts for Saudi Arabia so is becoming very real the oil price slump of what it means for those with the colonies and you can even see Saudi Aramco sabic basic industries group just absolutely on the loss of the profits a year early really dire figures for them but very much in the same vein as you're talking about there in terms of the impact is in Gulf markets and vertically in Saudi Arabia but anyway let's cross seven out to Berlin where Richard Jones of the markets life team joins us there Richard it's interesting morning because equities and respect what seems to be very much on the back foot off the wall what had been a bit of a rally in April I mean is it just down to those renewed tensions between Washington and Beijing yes good morning Roger well I think that that does renew tensions are definitely I think that sort of the of the icing on the cake here I think that if if we look at the the sharp sell off in US on Friday European equities are trading down sharp which you connect the futures are trading down sharply this morning after Friday's bank holiday here I I think the highlight three different ideas are three different drivers behind the down move in equities I think the good news on the first thing that is I think the good news regarding slightly better numbers need to be the corona virus I've now been fully priced by the market I think in recent weeks certainly throughout a call when we've had good news of falling for talisman sections stocks have reacted positively that doesn't seem to be happening now and that indicates to me that the good news with regard to the virus is already discounted in equity valuations and the second thing I'd say is that even with the economy's partially reopening in Europe and and talk to them and in the United States as well it's not going to lead to a return to normality for quite a long time I think consumers are going to remain cautious I think household spending habits won't return to their pre pandemic levels anytime soon and so therefore I think earnings for a lot of companies are going to remain suboptimal and it is also starting to weigh on stocks and will continue to in the coming weeks and months and I think that I think the thing that you highlighted the resumption of that rate and other tensions between China and the US are all will also gonna make it difficult to generate any material upside in stocks I mean if we if we if we rewind back to last year we saw the impact of how souring relations between China and the U. S. what that did to stocks and the broader general sentiment I think that he returned to this land we had some pretty punchy rhetoric from the US over the weekend I think it's also going to weigh on equity valuations of if there's a corona virus and the and the pandemic wasn't bad enough I think any resumption of trade trade another tensions between China and the US are really going to weigh on stocks yeah the terrorists the radicals being that effect on trump saying he will be the ultimate punishment for China Richard thanks very much Richard Jones they're for real time market commentary and analysis check out markets live MLI V. on your Bloomberg terminal care now in all top stories Boris Johnson will be taking part in the global virtual funded conference to try to raise seven billion pounds to back the search for a vaccine and therapies against the coronavirus meanwhile the U. K. will trial new track and trace procedures all the all of white next week which if successful could help the country to ease the lockdown pretty books Charles Capel reports the government said it has increases daily testing capacity to over one hundred thousand tests today while also developing a contact tracing up and hiring up to eighteen thousand people to work on the strategy also this week the prime minister Boris Johnson will lay out a roadmap to relax in the country's lockdown and talks on a free trade agreement between the UK and the U. S. will begin on Sunday the U. K. reported three hundred and fifteen additional deaths the fewest since the end of March in London Charles Capel putting that daybreak Europe business confidence in the U. K. slumped the most on record last quarter as financial corporate leaders said they see no quick recovery from the shut down respondents to delight survey said they expect revenue this year to be twenty percent lower than previously thought and most of the dead sea Dimond returning to pre virus levels into the middle of next year interesting though vulture that I see some of all big corporate leaders it needs the U. K. may actually get a bit of extra time because of the coronavirus you got fifteen companies in the fifty three fifty according to our research with the chairman's G. for change because I've been in place for eight to ten years because the virus they may now she gets a little bit more leeway so interesting to see some of the sort of consequences now owned business in the U. K. from the virus meanwhile when it comes to Europe and the virus infection rates that you continue to decline the was affected countries reporting fewer casualties fonts is to extend its health emergency to the twenty fourth of July saying any private to relaxation could trigger a second wave of cases it's he reported the fewest new virus death since is it's locked down we started two months ago well fatalities in space at the lowest in six weeks and in Germany the fewest since the end of March as you mentioned that with with with Richard Jones the trump administration is stepping up its attacks on China saying this quite enormous evidence that the current virus outbreak image from a map in Wuhan and that Beijing covered it up the secretary of state Mike Pompeii it stopped short of saying the infection was man made but he said this isn't the first time the world's next post will virus as a result of fate is in Chinese research ball of the intelligence committee continues to do its work they should continue to do that and verify so that we are certain I can tell you that there is a significant amount of evidence that this came from that laboratory and walk meanwhile president trump is raising the expected death toll in the U. S. saying as many as a hundred thousand Americans could now died from corona virus and White House sources are telling Bloomberg that president Donald Trump had to intelligence briefings before he imposed travel restrictions on China on the thirty first of January on the twenty third of Jan he was told that the infection was set to spread globally but that being infected wouldn't be deadly for most people a week later the president was briefed that Beijing wasn't sharing key data about the pandemic Malaysian factory output has slumped to record lows in April Bloomberg's Brian Curtis is more from Hong Kong this finding suggests a deeper contraction in Asia's manufacturing hubs PMI's for Indonesia Malaysia Vietnam the Philippines all falling further below fifty and posting their weakest readings ever according to IHS Markit meantime South Korea Taiwan and Japan dropped to their lowest since two thousand nine it shows that even with China on the mend well it's just not strong enough to jumpstart anyone's engine in all gong Brian Curtis Bloomberg daybreak Europe meanwhile one perfect is reversing his bets on airlines again Bloomberg's son of Palmer has more now Buffett said Berkshire Hathaway completely exited its stakes in the four major U. S. airlines the sales of shares of delta southwest American Airlines group and United made up most of Berkshire's six and a half billion dollars in equity sales in April during his live streamed annual meeting yesterday Buffett said the business has fundamentally changed following the economic fallout from the corona virus pandemic buffets had an on again off again relationship to airline stocks over the years but again for now he's off Susanna Palmer Bloomberg daybreak Europe right let's get the latest now in global news from the endurance of the I. you start with the picture yes indeed watching good morning finds a city in Spain has recorded the lowest daily fatalities from corona virus for weeks as restrictions begin to ease that starts in a city where the number of new deaths fell to the lowest in almost two months that's as the country prepares to gradually ease it's a lockdown later today yesterday there were one hundred and seventy four additional fatalities bringing the total to twenty eight thousand eight hundred and eighty full Baines run is walkers and cyclists took to the streets for the first time in almost two months as a nation eases one of Europe's tightest lock downs yesterday the fewest new coronavirus death involved in six weeks were recorded their one hundred and sixty four new fatalities now when funds travel restrictions will stay in place the government is preparing to impose a mandatory quarantine for those trying to enter the country if they test positive for coronavirus from Paris Bloomberg's onion news reports French media also reported that Paris seconds because the airport is unlikely to reopen before end September weather country plans to start lifting its locked down for may eleventh it will take longer to re open borders the interior ministers said he also recommended that the French don't book their summer holidays yet in Paris and then use boom Bloomberg daybreak Europe causing it to New Zealand which has hit a major milestone after recording daily new cases of coronavirus today Bloomberg's treaty with this says this is raising hopes they can fill out that relaxes lockdown restrictions next week the minister of health reported zero new cases for the first time since the lockdown began in New Zealand on March twenty five prime minister Justin are doing the sit to the side mile even with the move to level two which might allow more hospitality and retail businesses to open in Wellington Tracy with this Bloomberg daybreak Europe and Ireland is moving closer to forming a new government the green policies agreed to enter formal talks with the country's two traditional major parties fina gale and fina full the two rivals agree to try to form a government that was last month but they need a third coalition member for a parliamentary majority global news twenty four hours a day on it and QuickTake by Bloomberg powered by more than twenty seven hundred journalists and analysts symbol the one hundred and twenty countries I'm young.

president Donald Trump Wuhan
"aramco sabic" Discussed on WAFS Biz 1190

WAFS Biz 1190

03:23 min | 3 years ago

"aramco sabic" Discussed on WAFS Biz 1190

"Mean, it looks good. It looks it looks as if it's going really well. So do you think? Being phenomenal as an investor and you've seen plenty of bone issues. Would you say this is something to to buy more often the secondary market on the reading of the data that you have I suspect it's going to be too pricey in the secondary market. But I don't know. I mean, if I say to a fun match to buy something he does he sells. So you been. They'll probably by now rather than. Okay. But you could rich aka could it could cheap an perhaps in the second in this. I'm not sure I mean, I think the demand is so massive. That from what I read. It's it's going to go. Well, okay. Is this a seminal moment? Eight let's say in society as a as a turning point in sight, easy story, the Aramco SABIC, and you can tag on the story because it is the big based in the market is it a pivotal moment. Yeah. I think so I mean around coast, clearly, a very powerful company, and definitely the way this is gone must be a real boost to their their ambitions per Ramco. Now, I know that you go and see the people when you're Dhabi when you're in Kuwait. And when you're in various other countries, the oil markets on a five-month high. Are you seeing are you seeing any step change of flow of money from the southern wealth funds in t I think the sovereign wealth funds clearly doing. A lot better than they were when the price was twenty thirteen so, yeah, no, we we definitely accumulating more and and invested more. I I suppose the question as as in terms of the oil market. Do you see a new momentum? When you go. I didn't you talk to the investors in this region. What is the risk appetite right now when you talk to? It for vestments. It's good. I mean, looking like the rest of the world probably more alternatives than just shall we say straight equities or straight bonds. So everyone globally is raising their that target in in alternative. So I would expect to see globally going from about fifteen percent to twenty percents over the next over the next few years. So so hopefully, we can help help some of these these big asset owners achieve that target say if they maturity shift their targets there's a natural level of fight for the business. I mean five percents of the global pots of money is a huge sum of money. It doesn't sound huge amount. But it, but it, but it is. It's anybody talking about what Norway did in terms of their new edict. Let's say four four emerging markets in shifting their position on defeating. That's going to have a material impact at all among no material. Impact because they they they came up with more of a compromise. I think it was yesterday. Yeah. I think I think it will be it will be it will be a sensible steady move. I think I'm on Grinch watch recession watch all around the world. I ahead. It's on my Bloomberg. And when you see the fed pivoting, so I would say so aggressively maybe.

Aramco SABIC Bloomberg Kuwait Norway fifteen percent five-month
"aramco sabic" Discussed on WAFS Biz 1190

WAFS Biz 1190

06:52 min | 3 years ago

"aramco sabic" Discussed on WAFS Biz 1190

"JT Morgan see CEO, Jamie diamond made a rare appearance to market the deal himself at a luncheon New York this week last week. The house vice president and head of strategy. Research in the United Arab members. Welcome back to the program. We'll helmet. In many ways, this is a huge milestone in fixed income world. You're sitting there on the front lines of the equity story, arguably this is an inflection point as well. You look at some of the best performing sector so far. This year is Saudi Arabia look at double digit returns in banks intil, coz and consumer services does does this market shift for you is that a time for a rotation. Aalto Saudi Matia that story. I mean, the index has barely started. We've only seen four percent of the expected bustle Infos into Saudi then the crossed the nine thousand level last week. Let's see how the session today goes. Because now we're on the ninth consecutive days of gains and historically the maximum. We've got his eleven on the Dow and that's only nine oh current systems without and six. So the Roddy we're seeing today is very strong breathe would be expected. That's normal. It's a healthy correction, but you still have a lot of flows coming with nine hundred million end of this month and another six billion end of may. And the story would continue all throughout the second half of the year. So I think it's Thirdly got gotta say that it sets up a pretty spended backdrop if they did want to IPO Saudi Aramco, you would mundane that the Sabat deal with Piff the Aramco SABIC deal really sets the pitfall this often wealth fund and Ferdie substantial position. Why high what are the ramifications Smith subsequently, I think I think? Songs are still working on getting quota before the IPO with quieting Savak on expanding the downstream business. But for now, the PIF got seventy billion dollar cash injection. They can use that for infrastructure projects domestic he antivirus file away from local equities as well. And I think that probably that uses the concern of some of the stories we've been seeing earlier in the year that the F or other Jerry's would be heavy sellers. Into the end extreme though, it wasn't our view is still think they wouldn't even heavily on their own index, and obviously the deed with arm communes of the has use Assad location to Saudi equities my forty five percent overnight. So that's a big diversification in our view. It's the Saudi Aramco story with with the latest with the despond sale could take away perhaps capital that might have been destined to the Tadao this so much activity on the fixed income side. Let's let's be Frank here. There's a limited amount of capacity. These markets have and a limited amount of interest from abroad. There's not much to go around. I think from the perspective, obviously, the fixed income market has always been much bigger than the equities market tried by the end of the day. The only way this would affect Cup going into Saudi Arabia outflows from passive emerging ETF's. And the hasn't been the case in these twenty five billion dollars today so Saudi sharing that would be three percent once on on way on full benchmark, and that should be good for Saudi equities waiting for the for the price on these bombs hopefully tomorrow morning, we're gonna spend a bit of time with dot follow inside the Arabia. Maybe give us a bit of an indication. How important is it that that's the Gulf intelligence seminal harm portent is that the pricing for this comes in twenty much at the price of the sovereign high important market message is that old or is it not that important? I think I think it's important that it's all close to the sovereign pricing. Definitely and judging from the demand numbers that you guys reported. I would assume that the price. Thing would be fairly got. All of your other calls for the region, especially around the United Arab Emirates. We have this ongoing story of mega mergers. The latest iteration of that is the possibility of a merger between w slumming Bank and fab how likely is it that is going to come to fruition in the near term where you were sitting. I mean, sure it makes sense structurally. But I think I think to be honest, we have to look at what happened with and, but I mean, first of all both banks denied that there's any merger talks about this also happened in the case of ABC DNB. But for now, I think the focus would be on fully completing the Emma ABC N B, which is set to be effective on the first of may. I think before we got the synergies out of this deal. I highly doubt that we got another the going so closely. So if you if you look at the time knowing fob and by those completed twenty seventy and I four thirty twenty seventeen eighty was officially announced eight September. And September two thousand eighteen so if there's any truth to the to the deal between other band and five I would assume that this will come later. Okay. So he's still think he's still thinking come in the banking space Fave, Kuwait buses Konta, but with this union, you a story again, another leg in the consolidation is still the ranking for you as far as you're concerned, the weight versus kata, but where does the UAE fit into that jigsaw? I think I think you're banks. We definitely prefer them over you a year in the state of this point because most of the markets overweigh, three state banks, but banks are actually, you know, look relatively cheap as well versus regional peers, and they also are benefiting from incoming infidel hub ABC NBC will will generate around two hundred million dollars of passive inflows Fatah's raising foreign ownership limit that would be around eight hundred million in may and June. So we're talking about sizable inflows also MSNBC for actually opening up the foreigners. So. By definitely look like an attractive story within the U E itself. So even if you don't want to shift from other regional banks, I think shift from real estate tobacco's, probably the right course of action, especially after on the state earlier this year. Really got our attention as we were looking through your research is that you are bringing back some of the Qatari names in your calls. Run us through what the thinking here is after just a few weeks ago. You were saying this index is far too expensive. So the names we we we like them outside then that's right now. So these are the kind of socks that are the last to increase foreign ownership limit and improve individual limits, and they are benefiting from inflows may and June. Unlike the likes of Qatar fuel, for example, but the way to hedge the straight of if you if you're a hedge fund than you wanna buy the straight. You will the the index definitely because the heavyweights are still expensive. And I think they have further down to thought about any Edison Craddock nights at great have you with this this morning Mohamed vice president and head of Minnesota over at ESPN as research in the U A coming up on the show Agnone distribution dividends.

Saudi Arabia Aalto Saudi Matia IPO Saudi Aramco Saudi Aramco United Arab Emirates vice president United Arab JT Morgan ABC Aramco SABIC Qatar Jamie diamond Arabia New York Emma ABC N B CEO Roddy PIF
"aramco sabic" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:05 min | 3 years ago

"aramco sabic" Discussed on Bloomberg Radio New York

"And it's bankers. They are preparing to kickoff. What could be at least a ten billion dollar offering this week with pricing set to come as early as Tuesday. No sources say interest in the most highly anticipated sale of the year already told the more than twenty six billion dollars JT Morgan see CEO, Jamie diamond made a rare appearance to market the deal himself at a lunch in New York this week last week rather. Vice president and head off Meena strategy research in the United Arab members. Welcome back to the program. Muhammad in many ways, this is a huge milestone in fixed income world, you're sitting there on the frontlines of the equity story, arguably this is an inflection point as well. You look at some of the best performing sector so far. This year is Saudi Arabia look at double digit returns in banks in telcos and consumer services. Does does this market shift for you is that a time for a rotation? Ulta Saudi Matia that story. I mean, the industry has barely started. We've only seen four percent of the expected bustle goes into Saudi then the crossed the nine thousand level last week. Let's see how the session today goes. Because now we're on the nine consecutive days over gains and historically the maximum. We've got his eleven on the Dow, and that's only nine thousand six so the Roddy we're seeing today is very strong. A breather would be expected. That's normal. It's a healthy correction. But you still have a lot of flows coming with nine hundred million end of this month and another six billion and of may and the story would continue all throughout the second half of the year. So I think it's thirty one's got to say that it sets up a pretty spend a backdrop if they did want to Saudi Aramco, you'd mundane that the Sabat deal with Piff, the Aramco SABIC deal really sets the pitfall this fund in Ferdie substantial position, why high what are the ramifications? I think I think are still working on getting them quota for fuel with acquiring Savak and expanding the downstream business, but for now the get seventy billion dollar cash injection. They can use that for infrastructure projects domestic anti from local equities as well. And I think that probably the uses the concern of some of the stories we've been seeing earlier in the year that the PIF or other juries will be heavy sellers into the extreme though, it wasn't our view is still think they wouldn't be heavily on their own index. And obviously the deed with Armco means that the F has use aside location to forty five percents overnight. So that's a big diversification in our view. The Saudi Aramco story with the with the latest respond sale could could take away perhaps capital that might have been destined towards the Tadao this so much activity on the fixed income side. Let's let's be Frank here. There's a limited amount of capacity. If these markets have an unlimited amount of interest from abroad, there's not much to go around. I think from perspective, obviously, the fixed income market has always been much bigger than the equities market tried by the end of the day. The only way this would affect Cup going into Saudi Arabia, see outflows from passive emerging markets ETF's. And the hasn't been the case in these twenty five billion dollars today so Saudi Sharon dot will be three percent. Once it on on wait on full benchmark and that should be good for yet. With this waiting for the price on these bonds, hopefully tomorrow morning, we're going to spend a bit of time with cut it out Fale inside the Arabia. Maybe who gives a bit of an indication how important is it that and that's the Gulf intelligence seminar. Han -portant is at that. The pricing for this comes in twenty much the price of the sovereign hunt. Potent market message as that or is it not that important. I think I think it's important that it's all close to the sovereign pricing. Definitely and judging from the demand numbers that you guys reported. I would assume that the pricing would be fairly got. Well, let's get to some of your other calls for the region, especially around the United Arab Emirates. We have this ongoing story of mega mergers. The latest iteration of that is the possibility of a merger between with w slumming. Thank and fat. How likely is it that is going to come to fruition in the near term for where you were sitting. I mean, sure it makes sense structurally. But how likely I think I think what happened with and, but I mean, first of all most banks denied that there's any merger talks about this also happened in the. But for now, I think the focus would be on fully completing the Neo. ABC NBC, which is set to be effective on the first of may. I think before we get the synergies out of this deal. I mean, I highly doubt that we get another going so closely. So if you if you look at the time fob by those competed than twenty-seven twenty seventeen eighty officially announced eight September on September two thousand eighteen so if there's any truth to the to the deal between the band and five I would assume that this would come later. Okay. So. East of calm in the banking space fav- Kuwait versus Konta, but with this you need you a story again, another leg in the consolidation. Is that still the ranking for you as far as you're concerned, the weight versus, but where does the UAE fit into that jigsaw? I think you're e banks prefer them over here in the state at this point because most of the market to overweight, three state banks, but banks are actually, you know, a look relatively cheap as well versus regional peers, and they also are benefiting from incoming influence hub. ABC NBC will will generate around two hundred million dollars of passive inflows Fava's raising foreign ownership limit that would be around eight hundred million in June. So we're talking about sizable inflows also. Opening up to foreigners. So definitely look like an attractive story within the itself. So even if you don't want to shift from other regional banks, I think shift from the state tobacco is probably the right course of action, especially after their only real estate earlier this year. Really got our attention as we were looking through your research that you are bringing back some of the Qatari names in in your calls run us through what the thinking here is after just a few weeks ago. You were saying this index is far too expensive. So the names we oughta outside then that's right now. So these are the kind of socks that are the last to increase foreign ownership limit and improve individual limits, and they are benefiting from influence, and may and June and like the likes of Qatar fuel, for example. But the way to hedge the straight of if you if you're a hedge fund and you want to buy the straight you will index definitely because the heavyweights are still expensive. And I think they have further down to go. Okay. What about any nights? Vice president and head of strategy of ESPN as research in the U A coming up on the show. I've known distribution.

Saudi Arabia Saudi Aramco Vice president United Arab Emirates ABC Muhammad United Arab Ulta JT Morgan Qatar Meena Arabia Jamie diamond CEO Armco Savak New York