Saudis Are Right To Warn of a Worrisome Collapse in Oil Supply – Bloomberg — www.bloomberg.com
Highlights:
– Saudi Arabia’s Oil Minister Abdulaziz bin Salman has warned that worldwide oil production could fall by 30 million barrels a day by the end of the decade because there is not enough being spent on the exploration for and development of new resources. That implies the production of less than 70 million barrels a day.
– This serves as a recognition of two things: First, the world’s need for affordable oil isn’t going to disappear anytime soon; and second, despite its oil reserves, Saudi Arabia can’t supply it all by itself.
– Have potential investors been so bullied, or so scared, by environmental campaigners that they are unwilling to sink capital in new oil production?
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Abu Dhabi Investment Partners With Greystar to Build Rental Homes Around London – Bloomberg — www.bloomberg.com
Highlights:
– The U.K.’s purpose-built rental housing market is attracting greater investor interest as a sustained lack of housing supply in the country makes renting more attractive.
– Demographic trends and a severe structural undersupply of housing is driving demand for high-quality rental homes in the U.K.,” said Mark Allnutt, Greystar’s senior managing director in Europe.
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Living at AlJurf
Find Out More About Living at AlJurf
AlJurf Gardens harnesses nature’s raw beauty and combines it with refined heritage-inspired architecture and contemporary design to present a sanctuary of wellness and calm.
Throughout the villa spaces, the refined and controlled raw beauty of nature is repeated in different scales, to showcase its exquisiteness across every typology of homes, gardens and courtyards.
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Indian Bankers Book Bumper Fees From Record $18 Billion in IPOs – Bloomberg — www.bloomberg.com
Highlights:
– The wave of listings in India has tracked the wider trend in Asia, where companies have raised about $181 billion this year, an unprecedented level.
– Kotak Mahindra’s Venkataraman expects 2022 will see a similar amount of fundraising or a little more. But risks such as the spread of the omicron variant of the coronavirus, rising inflation and interest-rate increases could damp the sentiment in the market.
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Dutch Urban Farming Startup Infarm Gets Backing From Qatar Wealth Fund – Bloomberg — www.bloomberg.com
Highlights:
– Infarm said it has raised more than $500 million — ranking it among the best-funded vertical farming companies — and has a valuation of more than $1 billion.
– We see vertical farming as a way to enhance food security in every part of the world,” Mansoor bin Ebrahim Al-Mahmoud, chief executive officer of QIA, which has assets estimated at roughly $360 billion, said in a statement.
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Binance Gets Its First Gulf Crypto Regulatory Nod in Bahrain – Bloomberg — www.bloomberg.com
Highlights:
– If successful, this would mark the first regulatory approval for a Binance entity within the Middle East or North Africa.
– Rain Financial Inc. became the first licensed crypto-asset platform in the region when it secured approval from the kingdom’s central bank to operate in 2019. Earlier this year, Bahrain’s monetary authority granted another license to Manama-based CoinMENA.
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ESG: will profits become an endangered species?
Highlights:
– Saving the planet endangers profits for Big Oil. Royal Dutch Shell says oil production peaked in 2019. Shell, BP and America’s Exxon have written off tens of billions of dollars on stranded, uneconomic assets. Future profits require investments in new technology to bear fruit.
– Saudi Aramco, one of the world’s most profitable companies, continues to stake its future — and $39bn of forecasted annual capital expenditure — on oil. But its ebitda margins are steadily contracting, from 70 per cent in 2016 to 58 per cent in pre-pandemic 2019.
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