World Bulletin/News Desk
Qatar wants to become the biggest shareholder in Royal Dutch Shell by raising its stake to 7 percent to strengthen its ties with the oil company and further invest its wealth in western assets, a report said on Friday.
The Middle East Economic Survey (MEES) said Qatar's sovereign wealth fund, the Qatar Investment Authority, was looking to raise its stake from below 3 percent, which would make it the biggest shareholder, above Blackrock's 5 percent.
Shell declined to comment on the report.
In May, MEES reported that Qatar was looking to buy 3-5 percent of Shell. Shell confirmed at the time that Qatar had bought a large stake.
British stock market rules require any party to disclose a holding of over 3 percent in a listed company. Qatar has not made such a disclosure.
QIA has been the most active of the region's sovereign wealth funds in recent years, deploying profit from its natural gas riches into assets ranging from German sportscar maker Porsche to British bank Barclays.
A senior executive of the Qatari fund said in April the financial crisis had restricted investment in commodities and he expected a supply-demand gap to emerge by 2016 or 2017.
Apart from Shell, QIA has bought stakes in French oil major Total and European utilities Energias de Portugal and Iberdrola.
The fund has also been buying into Xstrata, amassing a stake of 12.3 percent and blocking the London-listed miner's merger with trader Glencore.
Shell operates multi-billion dollar natural gas projects in Qatar.
The tanker loaded the Kurdish crude at the Turkish port of Ceyhan around Aug. 8, and made a partial delivery to Croatia via a ship-to-ship transfer last week.
Soaring Chinese demand for commodities like coal has underwritten Mongolia's rapid growth, with more than 90 percent of its exports sold to China.
In a sign of frustration at the lack of broad support for reform, Sheremeta said on his Facebook page that he no longer wanted to "fight against yesterday's system".
McDonald's operates 438 restaurants in Russia and sees the country as one of its top seven major markets outside the United States and Canada
A tanker has docked at Es Sider and begun loading 600,000 barrels of oil, said Mohamed El Harari, spokesman for state-run National Oil Corp
Ethiopia, Africa's largest coffee grower, is set to continue talks with global buyers in hopes of branding and trademarking its world-renowned coffee and boosting national revenue.
Russia has banned the import of EU food products including fruit and vegetables from Poland, whose total food exports to Russia were worth around $1.5 bln last year.
Ukraine is prepared to compromise on the price until a lawsuit it has filed against Gazprom is resolved, minister Yuri Prodan said.
Finnish electricity specialist Hiekkala: 'Finland and Baltic countries have possibilities to replace the import from Russia by own capacity or Nordic import.'
The Bahraini-based Dar Group (Al-Shair and Partners) and its Egyptian subsidiary, Dar al-Handasah, were awarded the contract worth some $1.8 billion to draw up the master plan for Egypt's Suez Canal development project.
Citizens unable to pay their credit card bills can apply to Finance Ministry to have their debts expunged.
Greek Cypriot Farmers’ Union EKA general secretary Panicos Hambas said that the Russian sanctions on the Greek Cypriot export of citrus fruits could lead Turkish Cypriot farmers to export their own fruits to Russia via Turkey.
The closing off of a major export market threatens to hurt segments of the euro zone economy at a time when growth is pretty poor anyway.
Thailand avoided recession in the second quarter, the state planning agency said on Monday, but questions remain about the pace and depth of growth.
The new ban would not apply to foreign automakers' production inside Russia. Ford, Volkswagen , Ford Renault, Toyota and Hyundai Motor Co all have production facilities inside Russia.
Across Asia's low-cost garment manufacturing industry in particular, there have been more strikes as unions use a shortage of skilled workers to press for better pay and improved safety