Brookfield, one of the largest direct investors in the Middle East, says the region is a significant long term destination for investors. That's as the GCC undergoes a structural transformation from oil-based economies to more diversified economies creating scale across infrastructure, real estate and private equity. Jad Ellawn, Managing Partner & Regional Head of Middle East at Brookfield spoke t...
Brookfield, one of the largest direct investors in the Middle East, says the region is a significant long term destination for investors. That's as the GCC undergoes a structural transformation from oil-based economies to more diversified economies creating scale across infrastructure, real estate and private equity. Jad Ellawn, Managing Partner & Regional Head of Middle East at Brookfield spoke to Bloomberg’s Horizons Middle East and Africa anchor Joumanna Bercetche on the growth of the GCC. (Source: Bloomberg)
Sasol Ltd. ’s profit plunged on lower crude prices even as the fuel and chemical producer boosted output and hedged against oil volatility. The company’s net income dropped 95% to 241 million rand ($15 million) in the six months through December from 4.6 billion rand a year earlier, Sasol said in its earnings statement on Monday. The top manufacturer of fuel and chemicals from coal expects sustain...
Sasol Ltd. ’s profit plunged on lower crude prices even as the fuel and chemical producer boosted output and hedged against oil volatility. The company’s net income dropped 95% to 241 million rand ($15 million) in the six months through December from 4.6 billion rand a year earlier, Sasol said in its earnings statement on Monday. The top manufacturer of fuel and chemicals from coal expects sustained risk of a fall in oil prices, which largely determines the value of its products. Strategic measures to increase output, add renewable energy and utilize carbon offsets are “strengthening our foundation business, helping us to mitigate ongoing global market volatility and macroeconomic headwinds, building resilience for the future,” Chief Executive Officer Simon Baloyi said in the statement. The company has completed its 2026 hedging program with an oil price floor of $59 a barrel and is more than 45% done with the 2027 financial year, according to an earnings presentation. The program includes hedges on the rand. Sasol benefits when the local currency is weaker against the dollar. “Given the prevailing market conditions, a broader range of hedging instruments has been utilized to maintain downside protection,” Baloyi said. Sasol under Baloyi has focused on ramping up production at its Secunda operations hub, which means higher emissions from a company that is already South Africa’s second biggest emitter of greenhouse gases. Measures to increase the quality of coal have helped to grow output. Sasol also moved away from a plan to use more gas in operations as a way to cut emissions and instead increase the use of renewable energy and carbon credits. It’s secured more than 1,200 megwatts of renewable energy against a target of reaching 2,000 megawatts by 2030. Sasol’s environmental footprint still remains a concern . Shares jumped earlier this month after a local media report that South African Electricity and Energy Minister Kgosientsho Ramokgopa is working on a proposal...
Good morning . The UK risks losing its tariff advantage as President Donald Trump plans a 15% global rate. European officials warn of trade disruption. And take a look at how a luxury Moorea villa offers a self-improvement escape. Listen to the day’s top stories . The UK risks losing its tariff advantage as Donald Trump plans a 15% rate for all nations after the Supreme Court struck down his earli...
Good morning . The UK risks losing its tariff advantage as President Donald Trump plans a 15% global rate. European officials warn of trade disruption. And take a look at how a luxury Moorea villa offers a self-improvement escape. Listen to the day’s top stories . The UK risks losing its tariff advantage as Donald Trump plans a 15% rate for all nations after the Supreme Court struck down his earlier levies, potentially raising export costs by £3 billion and erasing Britain’s preferential 10% deal. China, India and Brazil benefit after the court’s ruling, with New Delhi postponing a trip to the US aimed at finalizing their interim deal . The dollar and futures on the S&P 500 declined. The European Parliament’s trade chief, Bernd Lange , will propose freezing the ratification process of the European Union’s trade deal with the US until details are received from the Trump administration on its trade policy. European Central Bank President Christine Lagarde warned Trump’s latest tariff moves risk disrupting the EU-US trade “equilibrium.” US Trade Representative Jamieson Greer told CBS that the president’s Supreme Court tariff setback won’t undo trade deals with partners. Trump imposed the new global tariffs under emergency powers, citing a balance-of-payments crisis , though economists doubt it. Trump said he's considering limited military strikes to pressure Iran into signing a new nuclear deal, but bombing the country may have the opposite effect. Iranian Foreign Minister Abbas Araghchi is expected to resume talks with US special envoy Steve Witkoff in Geneva on Thursday. Meanwhile, students in Tehran staged anti-government rallies at several universities for a second day. French President Emmanuel Macron appointed David Amiel as budget minister in a reshuffle that has drawn criticism from opposition parties . Macron wrote to Trump to ask for the lifting on sanctions imposed on officials including former EU Commissioner Thierry Breton. And France will summon US Ambass...
US President Donald Trump says he is considering limited military strikes to pressure Iran into signing a new nuclear deal but bombing the country may not have the desired effect. The US has ramped up its military presence in the region even as US Iran talks are set to resume in Geneva. Alan Eyre, Distinguished Diplomatic Fellow at the Middle East Institute and Former Senior US Diplomat spoke to B...
US President Donald Trump says he is considering limited military strikes to pressure Iran into signing a new nuclear deal but bombing the country may not have the desired effect. The US has ramped up its military presence in the region even as US Iran talks are set to resume in Geneva. Alan Eyre, Distinguished Diplomatic Fellow at the Middle East Institute and Former Senior US Diplomat spoke to Bloomberg’s Horizons Middle East and Africa anchor Joumanna Bercetche about the likely outcome from US action in the region. (Source: Bloomberg)
A rumour on social media brought dozens of fortune seekers to a field on the outskirts of mining town Springs In a township 30 miles east of Johannesburg, a mechanical digger filled in holes in the dark brown earth, bringing to an end a brief but intense gold rush that saw dozens of fortune seekers descend on what was once a cattle field. Less than two weeks ago, a rumour spread like wildfire on s...
A rumour on social media brought dozens of fortune seekers to a field on the outskirts of mining town Springs In a township 30 miles east of Johannesburg, a mechanical digger filled in holes in the dark brown earth, bringing to an end a brief but intense gold rush that saw dozens of fortune seekers descend on what was once a cattle field. Less than two weeks ago, a rumour spread like wildfire on social media: someone had found gold while digging a hole for a fence post in a field on the edge of Gugulethu, an informal settlement of dirt roads and metal shacks on the outskirts of mining town Springs. Continue reading...
If you want to catch a falling knife, you need to have a good reason. Unfortunately for investors of these three companies, there's likely more downside ahead.
If you want to catch a falling knife, you need to have a good reason. Unfortunately for investors of these three companies, there's likely more downside ahead.