First, Abu Dhabi National oil Company Posted its first profit since 2016. We asked how they did it. We are very happy with the result after two years of a Transformation Program that we gained the benefits of 3. 6 billion. We have seen the result in the First Quarter. We are very happy with the result. The business is much more lean and focused. We should get the benefit of that going into the future. We also had discussion of potential asset sales. Is that still on the table now that you have returned to profit . Definitely not, we are very happy with our assets as a longterm holder. We see a lot of benefits and assets and holding assets. There is a lot of potential in terms of spending and getting more cash flow out of the business. We are very happy with the assets as they are. What about Capital Expenditure . You have returned to profitability would changeou have extra money to spend. This year, we are wrapping up cafex. The board has approved that in the last meeting. We should st
Tone of his statements may tell us a lot. Rishaad 8 00 a. M. In the emirates, this is Bloomberg Markets middle east. Markets dive into the and show you the landscape across the asiapacific region. Gmm is the function on your terminal and you can see that the leader on the board today is australia after that surprising retail figure coming up to the upside. Were seeing a rally on the asx 200, with Retail Stocks and macro funds reportedly selling into the rally. But we are seeing the rest of the market with a little bit of a mixed picture, including hong kong and china. And theres down, really is this anticipation ahead of that communist Party Congress in the fall that we arent going to get a lot of policy guidance, so perhaps investors will be staying on the sideline. What are you watching . Yousef there are quite a few other asset classes, the energy has quite a bit of movement. That is taking a bit of a breather, halting gains after the longest winning streak this year stop it is down
Stocks, opec, and other producesd greed agreed to further output cuts. We ask about future steps to rebalance the market. First i want to start with saying we have analyzed the jvc report presented to us by the jcc. It by the jtc. Based on actual data, but also on forecasts. I can say that we have a fairly diversified range of opinions which we have looked into. They will give us grounds to be optimistic. We can see that they are being revised upwards based on the economics of the Global Economy. We believe we have solid grounds to assume the Global Economy is headed in the right direction, and this should boost demand. The traders eye speaks to and a lot of other key people okehats the traders i sp to, and a lot of other key people, how much room do you q3, q4 . Maneuver in a can you make the adjustments to make to where you want those inventories, be it more partners, more cuts . Give me a sense of whether everything is on the table, if it is necessary. Guest let remind you let me re
Weeks of the year as u. S. Group shrank, opec, and other producers agreed to further output cuts. We ask about future steps to rebalance the market. First, i want to start with saying we have analyzed the jvc report presented to us by the jtc. It did have good and thorough analysis. It is based on actual data, but also on forecasts. I can say that we have a fairly diversified range of opinions, which we have looked into. They will give us grounds to be optimistic. The gdp forecast, for example, we can see that they are being revised upwards based on the economics of the Global Economy. We believe we have solid grounds to assume the Global Economy is headed in the right direction, and this should boost demand. Reporter the traders i speak to and a lot of other key people, how much room do you have to maneuver in q3, q4 . The situation changes. Do you have the leverage to topt, make the adjustments get to where you want with those inventories, be it more partners, more cuts . Give me a s
And greeces efforts to escape their shackles could be at risk amid disputes over the imfs role and calls for debt relief. We speak to the former greek finance minister at 8 30. The cash markets opened in london, 30 west ago. Of euro stoxx 50, up 3 4 1 . , up, despite the initial call for unilever to be downgraded. Copper, a great story this morning. Copper will hit a thousand dollars. Will hit 8,000. Futures are down over 1 . I think we have to wait for the cac futures to go through the opening rotation. Contra down 1 would be to Everything Else on the board. Bunds open down. Yields are playing a little bit higher. The equity story around the world is slightly stronger. Bund yield,. 23 . You have got bund yields rising, stop prices pushing a little bit higher. This seems to be applicable for risk on at the moment. We have two year Government Bond yields in spain on the move as well. On the left, you can also see the dollar has had a mixed session. It is a little bit of a move against d