Money & Business - Gulf Insider

1 year ago

BRICS: India Likely Dumping the U.S. Dollar

BRICS member India is likely dumping the U.S. dollar in the forex markets to safeguard the rupee from falling, reported Reuters. The Indian rupee reached an all-time low of 85.96 on January 1, 2025, as the U.S. dollar strengthened. The development ruffled a lot of feathers in the Indian markets as the imports and exports sector took a hit. The Reserve Bank of India (RBI) directed state-run banks to dump millions worth of U.S. dollars to protect the rupee. On the direction of the RBI, state-run banks offloaded their U.S. dollar reserves to limit the damage to the rupee. The RBI is likely keeping a close tab on the development and is interfering in the currency markets. This is not the first time that BRICS member India has sold the USD to save the rupee, it has been accused several times of dumping the U.S. dollar. Click here to read more

1 year ago

Goldman Sees “Significant Risks” EU NatGas Prices Rally Higher Amid European Cold Snap

Samantha Dart, co-head of global commodities research at Goldman Sachs, said colder-than-average weather across the EU “is a stronger driver” than the halt in Russian NatGas exports via Soviet-era pipelines running through Ukraine, which will, in turn, pressure EU NatGas prices higher. By Friday, EU NatGas prices reached levels not seen in over a year, exceeding 50 EUR/MWh. “While this week’s key headline in natural gas has been the halt in the residual Russian gas flows through Ukraine, the main tightening driver of NW European gas fundamentals this winter is in our view colder-than-average weather currently forecast for the next two weeks, aided by low wind power and Norwegian production outages observed in December,” Dart said. She continued: “If this cold forecast realizes without other offsets, we see significant risks that TTF prices rally towards oil-switching economics in a 63-84 EUR/MWh range in the coming months, well above our 40 EUR/MWh 2025 TTF base case under average weather, to help manage European gas storage.” The latest data from Bloomberg shows that EU Natgas storage is 71.8% full at the start of the new year—this is well below the 16-year average of 74.29% for the same point in time. This indicates that increased heating demand and tightening supplies will force the continent to draw down supplies at the […]

1 year ago

Trump Calls On The UK To Open Up The North Sea And Get Rid Of Wind Farms

U.S. President-elect Donald Trump has called for opening up the UK North Sea to oil and gas and getting rid of windmills, in response to the recent announcement by Texas-based Apache that it would cease oil and gas production in the region due to the uneconomical windfall tax. “The U.K. is making a very big mistake. Open up the North Sea. Get rid of Windmills!” President-elect Trump posted late on Thursday on social media platform Truth Social. Trump attached an article about Apache’s recent announcement that it would exit the UK North Sea. In November 2024, U.S. oil producer Apache said that it plans to cease oil production at its assets in the UK North Sea by 2030, due to the windfall tax on operators. Apache’s parent company APA Corporation said in an SEC filing that its assessment of the impact of the windfall tax, officially known as the Energy Profits Levy (EPL), resulted in findings that continued production in the UK North Sea would be uneconomical. The ruling Labour Party’s Autumn Statement confirmed that the windfall tax on UK North Sea operators is rising to 38% from 35%, effective November 1, 2024. The tax will now expire on 31 March 2030, a year later than the previous tax […]

1 year ago

The Factors That Will Drive Oil Prices In 2025

This year in oil has been marked by chronic trader pessimism about Chinese demand and an equally chronic downplaying of supply disruption risks. This has made for a rather stable year in prices—and the stability could continue in 2025, on a few conditions. Brent crude and West Texas Intermediate appear set to end the year at nearly the same levels that they started. WTI started 2024 at a little over $70 per barrel and is about to end a little below that. Brent crude looks like it will post a little more noticeable loss, starting the year at $77 per barrel and ending at a bit over $74 at the time of writing. The biggest reason for this somewhat unnatural stability in oil prices has been the focus on China. Every single report on oil prices this year has featured Chinese economic data or oil import figures in its lead. This is set to continue in 2025 amid a flurry of reports predicting peak oil demand growth for the world’s biggest importer. China’s very own state oil giants are saying it. CNPC said earlier this month that it expected demand growth to peak in 2025, moving the peak year from […]

1 year ago

India Rupee Drops For 7th Straight Year As Headwinds Swirl Near Year-end

The Indian rupee fell for a seventh straight year in 2024, largely due to headwinds in the last quarter, including Donald Trump’s U.S. election victory-spurred surge in the dollar, while locally, slowing growth and a wider trade deficit weighed. The rupee dropped 2.8% in 2024 to end the year at 85.6150 per U.S. dollar. It fared better than many of its Asian peers, which declined between 3% and 12% due to the dollar’s strength and multiple twists and turns in the outlook on U.S. policy rates. The rupee was only marginally weaker at the end of September. But it slid nearly 2.2% in the last quarter and hit multiple record lows, with the lifetime low of 85.8075 coming on Dec. 27. Despite the rupee’s struggles in the last three months, it remains the least volatile major Asian currency, excluding the pegged Hong Kong dollar, largely due to the Reserve Bank of India’s routine two-sided interventions. When portfolio inflows jumped in the July-September quarter, the rupee benefited only marginally as the central bank absorbed dollar inflows, lifting the country’s forex reserves (INFXR=ECI), opens new tab to an all-time high of $704.89 billion. On the other hand, RBI has routinely stepped in to sell […]

2 years ago

Enabling Financial Innovation: Rana Almaeeli, CE, SINNAD

Driven by a vision to create a responsive, proactive, and solution-oriented financial services company, Rana Almaeeli established SINNAD. In this interview, Almaeeli talks to us about her leadership journey in the financial services sector and addressing the ever-evolving needs of customers. Gulf Insider’s Business Leaders in the Middle East 2024 features a series of interviews with those at the helm of thriving, successful businesses in the region. From finance, education, and automotive to real estate, and more, we highlight the stories of success, journeys, and lessons learned. Can you share your journey at SINNAD and what motivated you to be part of this ﬁnancial services company from its inception? My journey at SINNAD began at the very start of our establishment as a subsidiary of The BENEFIT Company, regulated by the Central Bank of Bahrain and licensed as an Ancillary Service Provider. I was driven by a vision to create a ﬁnancial services company that truly understands and responds to client needs and realized that payment solutions not only facilitated payments but also fostered genuine relationships and trust with clients. It was essential to build a foundation that prioritized innovation and adaptability, ensuring we could meet the evolving demands of […]

2 years ago

Continuous Innovation: Roberto Mancone, CEO, Beyon Money

Roberto Mancone, CEO of Beyon Money, discusses the company’s commitment to constant innovation. He shares insights on product development, customer-centric app updates, and the democratization of financial services through technology. Can you discuss a recent innovation that has made an impact on your operations, the larger industry, or your customers? When it comes to innovation, it’s less about recent advancements and more about constant evolution. Given the nature of our business and the competitive environment, we innovate almost every three months. Innovation takes two forms: First, we continuously update our app’s UI, UX, and overall experience based on customer feedback, ensuring it remains user-friendly and engaging. The app is our primary communication tool, so keeping it up-to-date is essential. Second, we innovate through our products. For example, we introduced the Signature Prepaid Card—the only one of its kind in the market. We’ve also improved our remittance services, allowing customers to send money across multiple corridors. Our most significant innovation, however, has been in investment products. Flexi Invest and Fixed Invest created new demand, enabling clients to manage their liquidity and earn returns instead of letting money sit idle in bank accounts. I call this the democratization of innovation. Through technology, […]

2 years ago

Building Innovative Dining Concepts: Madan Perattur, CEO of Remya Management

Madan Perattur, CEO of Remya Management, which oversees popular dining destinations in Bahrain such as Black Angus, Klub 360, Wrangler, Texas Longhorn, Rodeo, and Eat Greek, shares his insights on innovation, leadership, and his passion for hospitality in this exclusive interview. Can you discuss a recent innovation that has made an impact on your operations, the larger industry, or your customers? In the hospitality sector, innovations have been introduced to enhance understanding and response to customer preferences, draw in new patrons, and retain loyal clientele. A restaurant concept is the cornerstone of its identity, encompassing aspects like design, menu, culture, and overall experience. It highlights various components that define the restaurant’s individuality and differentiate it from competitors. A well-articulated restaurant concept attracts diners seeking unforgettable dining experiences. Merging multiple concepts, collaborating with media to get the message out, and leveraging social media are all innovations that are constantly shaping the F&B landscape. Interactive dining experiences, unique marketing strategies, refreshing interiors to create a vibrant atmosphere, and offering digital menus featuring distinctive food options ensure that we stay on top of the game all year round. What are the biggest lessons learned while introducing innovation in your operations of Black Angus? […]

2 years ago

Leading Innovation in Finance: Bas Kooijman, CEO, DHF Capital

Bas Kooijman, CEO and Asset Manager of DHF Capital S.A. discusses how innovation, technology, and human expertise are reshaping asset management, offering unique solutions to enhance client experience and financial success. Can you discuss a recent innovation that has made an impact on your operations, the larger industry, or your customers? One of the most significant innovations we’ve implemented at DHF Capital has been the development of our proprietary asset management software. This system integrates advanced algorithms that allow us to rebalance client portfolios in real time, ensuring that we are always adjusting to market volatility while aiming for steady returns. In the world of financial management, especially in markets like Forex, this is a game-changer. It enables us to offer a level of risk management and efficiency that was previously only available to high-net-worth individuals or large institutional investors. Our goal with this tool has been to democratize wealth creation by making sophisticated asset management strategies more accessible to a broader audience. The innovation also aligns with our broader vision of blending human expertise with cutting-edge technology. While the software handles the day-to-day intricacies of portfolio management, it’s still overseen by our experienced traders who can step in during […]

2 years ago

Building a Legacy: Yusuf Abdulatif Althawadi, Managing Director, Bahrain Marina Development Company

Yusuf Abdulatif Althawadi, Managing Director, Bahrain Marina Development Company W.L.L talks about leading the ambitious Bahrain Marina project, the lessons learned, building communities, and the power of delegation in this interview. Can you share a recent innovation that has impacted your operations, the industry, or clients? From the inception of the Bahrain Marina project, our goal was clear: to craft a development that harmonizes contemporary luxury with Bahrain’s vibrant cultural legacy. I worked closely with our design experts to implement strategic modifications to the design, ensuring that Bahrain Marina would not just be another real estate venture, but an integrated destination that mirrors the aspirations of both current and future Bahraini generations. The project is built on the site of the historic Marina Club, a location that holds special meaning for many Bahrainis. This site carries treasured memories for older generations, and our goal is to create new memories for future generations. By integrating the club’s historic marina into the development, we added a unique dimension for boat enthusiasts, transforming The Marina Club into a modern marine destination offering world-class services. Every residential apartment has been designed to feature breathtaking views, ensuring a luxurious and comfortable living experience. The project’s […]

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BRICS: India Likely Dumping the U.S. Dollar

Goldman Sees “Significant Risks” EU NatGas Prices Rally Higher Amid European Cold Snap

Trump Calls On The UK To Open Up The North Sea And Get Rid Of Wind Farms

The Factors That Will Drive Oil Prices In 2025

India Rupee Drops For 7th Straight Year As Headwinds Swirl Near Year-end

Enabling Financial Innovation: Rana Almaeeli, CE, SINNAD

Continuous Innovation: Roberto Mancone, CEO, Beyon Money

Building Innovative Dining Concepts: Madan Perattur, CEO of Remya Management

Leading Innovation in Finance: Bas Kooijman, CEO, DHF Capital

Building a Legacy: Yusuf Abdulatif Althawadi, Managing Director, Bahrain Marina Development Company

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