Kuwait-based Abyaar Real Estate Development Company (Abyaar), which develops and manages properties in the UAE and in Dubai in particular, recently announced a net profit for the first nine months of 2009 of KD5 million ($17.5 million) and an EPS of 6.90 fils (a subdivision of currency used in many Arab countries, where KD1 roughly equals 1000 fils).  Per its chairman, Hesham Abdul Wahab Al Obeid, the firm reduced financing debt during the period by 30%, down to KD 77 million, compared to KD108 million during the same period of 2008.  Owners’ equity also increased, up to KD146 million.

The strong showing begs the question how quickly Abyaar will return to the debt markets; in October 2008 it postponed a proposed sale of Islamic bonds worth up to $1 billion in order to finance its expansion plans.  Rashed Al-Rashdan, its

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TAMPA, FL - November 10, 2009 - MagneGas Corporation (OTCBB: MNGA), a producer of a metal working fuel and natural gas alternative made from liquid waste, announced today that it has entered into a Strategic Alliance Agreement with Kuwait-based TIES International.

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Friday October 30, 2009

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Too big to fail, is still heavy in the derivative market, and primed for a gigantic collapse.

Congress needs a chimney sweep to clean the soot from the smoke they’ve been blowing. Our do nothing congress; well we can’t really say do nothing, they did bail out the banks, and they have raised more money for themselves this session from Insurance, health care and bank lobbyists than in any other one year period, and the year isn’t even over. Now they are spreading the word, the gospel of Obama, it’s time to

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Qatar is a red-hot economy. Last year it grew around 18% and this year it ought to grow another 16%. We saw the headlines in the Gulf Times in the lounge while waiting for our transfer to Dubai.

Qatar’s greatest asset is its natural gas reserves. In fact, the largest gas field in the world is here. Its discoverers were disappointed when they found it in 1971. They were looking for oil.

The boom Qatar now enjoys is the result of some daring investments in liquefied natural gas (LNG) back when people thought doing such a thing was a little batty. Faisal Al Suwaidi, the head of Qatargas, deserves the props for his wager, which have paid off handsomely. Today, Qatar produces about one-quarter of the world’s natural gas.

Qatar supplies such faraway customers as Japan, India and China. Qatargas also operates the largest LNG terminal in Europe at South Hook on

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Pandora’s Box of rate hikes is opened! Is the dollar being removed from oil trades? Deficits do matter, eh? Gold heads toward its all-time high…And Now… Today’s Pfennig!

Good day… And a Terrific Tuesday to you! A Tuesday morning that is seeing a HUGE currency rally VS the dollar on the news that the Reserve Bank of Australia (RBA) opted to go ahead and hike rates now, and not wait for November’s meeting,

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Yahoo! (YHOO) CEO Carol Bartz is bent on refocusing the business, improving its image and bringing in some cash. Management has taken a number of actions to position the company for achievement of these objectives. The first was the disposal of non-core assets and acquisition of small-business targets that could help it augment its new business focus. To this end, the company has disposed off its 39% stake in China ’s largest e-commerce company, Alibaba.com, for $150 million. It has also put up for sale the Yahoo Small Business assets. Rumor has it that the company expects $350-500 million for the business, which has been the main hurdle so far. Renewed talk indicates that the sale could be completed soon. The small business division provides domains, email, Web hosting and other merchant services to customers. The company has made a couple of acquisitions this year. ...

The Organization of the Petroleum Exporting Countries (OPEC) said yesterday (Thursday) that it would keep production quotas at 24.845 million bpd and urge members to adhere to targets, as global demand has yet to return in full.

However, a report from the International Energy Agency (IEA) indicated that demand is recovering more quickly than previously thought, and that OPEC may be playing catch-up as the global recovery gathers steam.

The IEA increased its outlook for global oil demand by nearly 500,000 barrels per day (bpd) for 2009 and 2010, to 84.4 million and 85.7 million bpd respectively.

Perhaps the biggest reason for the increase was surging demand in China, where the Red Dragon’s $587 billion (4 trillion yuan) stimulus plan has resuscitated manufacturing and helped China grow into the world’s largest auto market.

China’s imports of oil hit a record high in July, soaring 18% from the month prior to 19.63 million metric

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C, RMBS, BEHL, TIVO

 

Sunday September 6, 2009

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C, Citigroup, Inc.

C (Citigroup, Inc.) is a global financial services company, provides consumers, corporations, governments, and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management.

The KIA (Kuwait Investment Authority) invested $3 billion in Citigroup (C) and $2 billion in Merrill Lynch when they needed cash following losses stemming from the credit crisis.

Kuwait’s sovereign wealth fund has no plans to sell in the near term stakes in Citigroup Inc.(C) and Merrill

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According to various reports, central bankers from Saudi Arabia–whose capital Riyadh is slated as the home of a planned future regional central bank–are increasingly pessimistic as to the odds of the once much bally-hooed 2010 transition to a single Gulf currency and monetary union across the six-member GCC.  This despite the fact that prices rose 10.5% in the Kingdom in April, the fastest pace in over three decades, and UAE inflation touched the 20-year peak of 11.1% last year.  In the meantime, dollar pegs forced various countries to mirror declining U.S. interest rates despite windfall oil profits and domestic price increases.  Yet certain countries, such as Kuwait and Syria, have already dropped their dollar ties.  Moreover, there is scant evidence that dropping the peg did much for Kuwait’s inflationary pressures.  Some analysts reckon, for instance, that inflation is less tied to fuel and more tied to factors such as food prices, construction materials such

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The Ministry of Electricity and Water in Kuwait recently selected General Electric Co. (GE) for building a 2,000 megawatt power plant. The company had submitted a bid for 770 million dinars ($2.7 billion) for the Subbiya plant.

In April, Kuwait floated a new tender for building turbines for a plant in the north of the country. At that time, the Ministry had expected costs for bringing the plant into effect by 2011 to be far less than 700 million dinars. Kuwait has one of the world’s highest per capita power consumption rates.

Apart from GE, other companies that initially qualified for the project included Germany's Siemens (SI), Japan's Mitsui & Co. (MITSY) and Marubeni Corp., Spain's Iberdrola Ingenieria Y Construccion and Canada's SNC-Lavalin Ltd.

General Electric has products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media

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