Abeer Abu-Omar
@AbeerAO1
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Bloomberg deputy UAE bureau chief, Middle East economics reporter based in Dubai. Views mine. Email: [email protected] @business
UAE
Joined December 2011
#Trojena is set to host the 2029 Asian Winter Games. But set in a region with little snowfall, it’s emerging as a great challenge to MBS’s flagship project of #Neom. #SaudiArabia #giaprojects
https://t.co/zwf3V9s2BE
@cmarie_burke @AbeerAO1 @ZainabFattah @JournoDebjit
bloomberg.com
Trojena is designated to host the 2029 Asian Winter Games. But set in a region with little snowfall, it’s emerging as a great challenge to MBS’s flagship project
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Ostracized by the West for 25 years and saddled by a debt pile, the wooing of the United Arab Emirates by Zimbabwe President Emmerson Mnangagwa has handed the economy a lifeline. https://t.co/d8SSQYkT6E via @economics @AbeerAO1
bloomberg.com
Shunned by the West, Zimbabwe’s UAE Gamble Hands Economy a Lifeline
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A key portfolio manager at Dubai’s Magellan Capital has departed months ahead of the hedge fund’s planned $700 million launch. Story with @AbeerAO1
https://t.co/AlWr1d10Tm via @markets
bloomberg.com
A portfolio manager at Dubai’s Magellan Capital has departed months ahead of the hedge fund’s planned $700 million launch, which is set to rank among the largest debuts in the United Arab Emirates.
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3 takeaways from Saudi budget data in the 1st half of 2024: 1. Saudi needs oil at $95 to balance its budget 2. Adding domestic investments by the sovereign wealth fund, the figure rises to $112 3. Oil price is lower than that, at $77, meaning deficits will persist
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Saudi Arabia will put less money into the oil industry than initially predicted in its goal to invest $1 trillion in strategic sectors by 2030. Goldman estimates 73% will now be added in non-oil sectors, more than initially predicted at 66%. https://t.co/tvMkKTwJam via @markets
bloomberg.com
Saudi Arabia is expected to put less money into the oil industry than initially predicted in its goal to invest $1 trillion in strategic sectors by the end of the decade.
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Saudi Arabia got the largest IMF growth downgrade among major economies. Fund officials told us yesterday the call to cut GDP was entirely due to oil production cuts. Read more here. https://t.co/B3slDxnpb6 via @economics
bloomberg.com
The International Monetary Fund has downgraded its growth projections for Saudi Arabia by more than any other major economy it tracks, reflecting the kingdom’s decision to reduce oil supplies.
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Saudi Arabia is going through the most precarious moment in its economic transformation. Eight years, into the unveiling of Vision 2030, the plan faces delays, setbacks and overhauls. Take a look at the key stress points facing the kingdom. https://t.co/dOo5X2IELo via @economics
bloomberg.com
Saudi Arabia faces the most precarious moment yet of its economic reinvention.
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According to Goldman, #Israel and #SaudiArabia have had the worst falls in sovereign-risk scores this year among emerging markets. Each because of deteriorating fiscal outlooks. For Israel, the war in Gaza. For KSA, MBS's giga-projects. https://t.co/HQHtkYycgL
@AbeerAO1
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Nuggets on Dubai’s financial hub by @AbeerAO1 “This year is going to be our busiest year ever” says regulator which issued 112 new financial services licenses in 2023. Issuance so far this year is 50% up on last year. 27 of world’s 29 systemically important banks operate in DIFC.
Dubai’s financial center is expecting a record number of firms to set up in the Middle East business hub this year
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Cool story by @BenBartenstein on the gatekeepers financiers need to know for access to one Abu Dhabi royal who controls a massive pile of private and state assets. https://t.co/4zJ4YrDUH9 via @business
bloomberg.com
Abu Dhabi royal Sheikh Tahnoon controls a massive pile of private and state assets—and his gatekeepers can make or break a deal.
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Confirming an earlier Bloomberg scoop, Abu Dhabi is tapping markets for the first time since 2021 with a three-tranche bond. With current oil levels, the emirate probably doesn't need the funds but take a look why it may be raising debt now. https://t.co/3XfelvmAbl via @markets
bloomberg.com
Abu Dhabi is selling its first eurobonds in about three years, as expectations fade that US interest rates will fall soon.
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Iranian state media appears to be downplaying a strike US officials attributed to Israel. Bloomberg's @JoumannaTV reports on the latest developments: https://t.co/8CbbGQZUVv
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Saudi Arabia will need oil prices close to $100 to balance its budget this year, according to the IMF. Our own estimates -taking into account SWF spending- suggest Brent needs to be closer to $110 to achieve a balance. https://t.co/RQUC7na3kz via @markets
bloomberg.com
Saudi Arabia will need a higher oil price than previously thought this year as the OPEC+ leader spearheads the group’s production cuts, according to the International Monetary Fund.
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Microsoft is taking a $1.5 billion stake in the UAE's G42 and Microsoft President Brad Smith will join G42 board. It's the latest move by G42 away from China and toward the US tech industry. https://t.co/FCAnH0n0xS by @AbeerAO1 and me
bloomberg.com
Microsoft Corp. will invest $1.5 billion in the United Arab Emirates’ top artificial intelligence firm, G42, after the Abu Dhabi-based company worked out an unusual deal with the US government to end...
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During the first session of Bloomberg Dialogues today, @SultanAlQassemi spoke about Arts and Politics in the Middle East, going into how world politics shaped artists’ work in the region. A truly captivating discussion. Special thanks to @ZiadMDaoud for arranging the talk.
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Probably one of the most high profile IPOs in Abu Dhabi. Read about the consideration to list Etihad here.
#AbuDhabi is considering a listing for #Etihad Airways, potentially making it the first of the Gulf’s major hub carriers to become publicly-traded https://t.co/PmFkgU8UGM via @markets @NicolasParasie @DNair5
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A pleasure to sit down with @AbeerAO1 at @investopia_ae. The long-term trajectory of #Bitcoin is crystal clear, and @SkyBridge is proud of our conviction in digital assets.
bloomberg.com
Anthony Scaramucci’s hedge fund, SkyBridge Capital, has returned 16% so far this year amid a rally in Bitcoin.
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Biggest takeaway from the IMF’s regional economic outlook for the Middle East? A $30 billion rise from last year in financing needs for emerging market and middle income economies across the Middle East and North Africa to $186 billion. https://t.co/KGZO5CawwP via @bbgequality
bloomberg.com
The International Monetary Fund said shockwaves from the Israel-Hamas war could long reverberate through Middle Eastern economies and have already contributed to a $30 billion rise in their financing...
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Despite very different economic dynamics, both Saudi Arabia and Argentina’s economies were in 1.1% contraction last year. The IMF says the reason Saudi GDP slipped and weighed down on the wider region is mainly because of one thing: oil. https://t.co/lOhY4Xlqrr via @economics
bloomberg.com
Saudi Arabia’s economy had one of its steepest contractions of the past two decades after reducing oil output to support crude prices, according to the International Monetary Fund, a slump matched...
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