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SCTH launches second phase of Old Yanbu’s Al-Sour district renovation project

Author: 
ARAB NEWS
Fri, 2017-01-27
ID: 
1485465855092185900

RIYADH: Prince Sultan bin Salman, head of the Saudi Commission for Tourism and National Heritage (SCTH), launched the second phase of the Al-Sour district renovation project in Old Yanbu in the presence of Prince Faisal bin Salman, governor of Madinah and chairman of the Tourism Development Council, the mayor of Yanbu Engineer Mosaed Al-Salim, head of the Yanbu Municipality Fahad Al-Mash’aan, and a number of other officials, on Wednesday.
The second phase will refurbish 100 buildings over an area of 8,100 square meters, including 32 commercial buildings, six cultural buildings, 12 residential buildings and five administrative buildings. The project is funded by SABIC, ARAMCO, the Royal Commission of Jubail and Yanbu, and a number of other partners.
SCTH and project partners completed renovation and restoration of Al-Layl Market, one of the oldest markets in the kingdom. The market was reopened upon completion by the president of the SCTH and the governor of Madinah, allowing citizens to resume commercial activity after 50 years of inactivity.
The project is part of the Custodian of the Two Holy Mosque’s Program for Care of National Heritage, which is being carried out by the SCTH with support from King Salman himself.
The president of SCTH said the success of restoring life to the Al-Layl Market and Al-Sour District comes in line with directives of King Salman, who strongly believes in the urgency of focusing on national heritage. He praised King Salman’s national program aimed at restoring national heritage to the heart of citizens and the country.
He noted that the success of the first phase of the project was a result of sound coordination between authorities. He also pointed to the significance of the market and district, which serve as promising and attractive location for citizens to earn a decent living.
He also addressed the budget of the SCTH and Program for Cultural Heritage, which will allow for the construction of a new museum and resumption of work on museums that were halted last year due to budgetary constraints, as well as the investments in the tourism sector as part of the national transformation program.

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Jazan govt hospital saves life of soldier injured in explosion

Author: 
Mohammed Rasooldeen
Fri, 2017-01-27
ID: 
1485465855072185600

JAZAN: Jazan’s King Fahad Central Hospital medics and paramedics removed shrapnel from soldier struck by an explosion.
The soldier sustained a direct hit from the explosion when shrapnel had pierced into his neck. The patient was rushed to the Emergency Department of the hospital where he was given treatment by inserting a ventilator tube, according to according to an official from the Ministry of Health.
It was a complicated surgery, the official said, attributing its success to the efficient surgical team of the hospital.
Meanwhile, a specialized medical team at the South Al-Qunfudah Hospital conducted a successful nephrectomy on a 23-year-old woman, who was suffering from acute kidney failure on Tuesday.
The woman had been suffering from severe lower back pain, and after making the required tests at South Al-Qunfudah Hospital; she was diagnosed with a failure of one of her kidneys and the presence of many stones. Finally, she underwent a successful nephrectomy surgery, according to the team.
The same hospital staff also conducted an operation on a patient in his 70s to remove a large prostate tumor that he had for more than six years.
Both patients are in good health and their conditions are stable, an official said.
In addition to the medical treatment given in local hospitals, the ministry also provides services for patients who cannot find treatment in the Kingdom.
The official said those patients considered for treatment abroad are individuals whose diseases cannot be treated in the Kingdom.
The Saudi government spent more than SR1 billion to treat 4,723 Saudi patients abroad, he noted. Under the scheme, the High Medical Commission approved treatment for 2,781 patients, while the remaining patients were treated abroad on royal decrees.
The decision to treat patients abroad is based on a royal decree or on a recommendation made by the High Medical Commission, which deals with these acute cases.
The health official said there is no ceiling for overseas medical allocations and all deserving patients will be given the needed opportunities for medical treatment abroad.

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IDB reaffirms commitment to support development in Gambia

Author: 
Rodolfo C. Estimo Jr.
Fri, 2017-01-27
ID: 
1485465855032185100

RIYADH: Mansour Mukhtar, vice president for sector operations for the Jeddah-based Islamic Development Bank (IDB), said the bank has several capacity building and technical assistance programs, including through its Reverse Linkage project, in which Gambia can benefit to complement its financing activities.
IDB officials said they are committed to supporting development in Gambia.
Muhammad Jameel Yusha’u, senior communications specialist, said that Mukhtar was on an official mission in Senegal.
Mukhtar stressed IDB’s commitment after Adama Barrow, new Gambian president, lauded the bank’s efforts in helping Gambia in developmental projects during their meeting.
A Saudi Press Agency report said,“President of Gambia Adama Barrow has lauded efforts exerted by the Islamic Development Bank for supporting his country in the field of development projects.”
Mukhtar led a delegation to Senegal where Adama Barrow, new Gambian president, is staying. Barrow received the IDB delegation.
He conveyed the goodwill message of IDB President Dr. Bandar Hajjar “who is committed to working with African member countries in several areas to support their social and economic development.”
Mukhtar told Barrow that IDB had been active in Gambia since 1980 and that it had received financing worth $690 million and at present there are 14 active projects totaling $158 million in the African country.
The IDB vice president said that he hoped that the implementation of bank-supported portfolio will improve and opportunities for collaboration strengthened with the support and guidance of the new Gambian president.

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Cameroonian delegation visits Kingdom in preparation for Haj

Author: 
Rodolfo C. Estimo Jr.
Fri, 2017-01-27
ID: 
1485465855062185400

RIYADH: A Cameroon delegation visited the Kingdom recently to hold talks with Saudi authorities and make arrangements for this year’s Haj pilgrimage.
An embassy spokesperson said the delegation was headed by Abdoulkarim Dewa, head of the Cameroonian Haj National Commission.
Cameroonian Ambassador Iya Tidjani and Jeddah Consul General Oumarou Issa joined the delegation to meet with State Secretary Hussein bin Mohammed Sharif of the Saudi Ministry of Haj and Umrah.
The spokesperson said that the delegation, which discussed with Saudi authorities the country’s quota for this year, signed for 4,500 pilgrims although its regular quota is 10,000.
The delegation also signed agreements on housing in Makkah and Madinah, transportation, as well as food catering with local firms.

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Earnings Barrage: This Is What GOOGL, MSFT, INTC And SBUX Reported

In what is one of the busiest reporting days of the quarter, Microsoft, Intel, Google, Starbucks, and more all reported earnings after the close.Here is a quick recap:

GOOGL: Q4 non-GAAP EPS miss $9.36, Exp. $9.64; Revenue $26.0BN, Exp. $25.2BN; Revenue ex-TAC $21.2BN, Exp. $20.6BN

  • 4Q paid clicks +36.0%, est. +25.7%
  • 4Q Google other rev. $3.40b
  • 4Q rev. ex-tac $21.2b
  • 4Q cost-per-click -15.0%, est. +10.7%
  • 4Q adj. operating profit $8.49b, est. $8.18b (range $6.12b- $9.30b)
  • 4Q Google advertising rev. $22.4b
  • 4Q free cash flow $6.34b
  • 4Q capital expenditures $3.08b

* * *
MSFT: Q2 EPS non-GAAP EPS beat $0.83 (Ex-LinkedIn $0.84), Exp. $0.79; Revenue $25.9BN, Exp. $25.3BN; Rev. ex-LinkkedIn: $25.8BN, Exp. $25.3BN

  • 2Q rev. by business unit:
    • More Personal Computing $11.82b vs est. $11.44b (5 ests. compiled by Bloomberg News)
    • Intelligent Cloud $6.86b vs est. $6.68b (5 ests.)
    • Productivity and Business Processes $7.38b vs est. $7.02b (5 ests.)
  • Sees “strong demand” for cloud-based services

* * *

INTC: Q4 non-GAAP EPS beat $0.79, Exp. 0.75, Revenue $16.4BN, Exp. $15.8BN

  • Sees 1Q adj. EPS 65c +/- 5c, est. 61c
  • Sees 1Q adj. GM 63% +/- Couple Pts, est. 61.9%
  • Sees 1Q rev. $14.8b +/- $500m, est. $14.5b
  • Sees year rev. roughly flat; expected to grow in low single digits excluding Intel Security Group from both years
  • Client computing rev. $9.1b, up 4% y/y
  • DCG rev. $4.7b, up 8% y/y
  • 4Q adj. gross margin 63.1% vs est. 63.1%

* * *

SBUX: Q1 EPS match non-GAAP EPS $0.52, Exp. $0.52; Revenue $$5.73BN, Exp. $5.83BN, Q1 Comps +3%, Exp. +3.7%

  • Sees revenue growth 8-10%, Saw growth in the double digits.
  • 1Q China/Asia Pacific comp. sales +5%, est. +3% (Consensus Metrix, average of 26)
  • 1Q Americas comp. sales +3%, est. +3.9%
  • 1Q EMEA comp. sales -1%, est. +1.8%
  • 1Q adj. operating margin +20.0%
  • 1Q China/APAC operating margin 21.2%
  • 1Q EMEA operating margin 16.8%
  • 1Q net new store openings in Americas 251

And how the respective shares are reacting:

The post Earnings Barrage: This Is What GOOGL, MSFT, INTC And SBUX Reported appeared first on crude-oil.top.


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Earnings Barrage: This Is What GOOGL, MSFT, INTC And SBUX Reported

In what is one of the busiest reporting days of the quarter, Microsoft, Intel, Google, Starbucks, and more all reported earnings after the close.Here is a quick recap:

GOOGL: Q4 non-GAAP EPS miss $9.36, Exp. $9.64; Revenue $26.0BN, Exp. $25.2BN; Revenue ex-TAC $21.2BN, Exp. $20.6BN

  • 4Q paid clicks +36.0%, est. +25.7%
  • 4Q Google other rev. $3.40b
  • 4Q rev. ex-tac $21.2b
  • 4Q cost-per-click -15.0%, est. +10.7%
  • 4Q adj. operating profit $8.49b, est. $8.18b (range $6.12b- $9.30b)
  • 4Q Google advertising rev. $22.4b
  • 4Q free cash flow $6.34b
  • 4Q capital expenditures $3.08b

* * *
MSFT: Q2 EPS non-GAAP EPS beat $0.83 (Ex-LinkedIn $0.84), Exp. $0.79; Revenue $25.9BN, Exp. $25.3BN; Rev. ex-LinkkedIn: $25.8BN, Exp. $25.3BN

  • 2Q rev. by business unit:
    • More Personal Computing $11.82b vs est. $11.44b (5 ests. compiled by Bloomberg News)
    • Intelligent Cloud $6.86b vs est. $6.68b (5 ests.)
    • Productivity and Business Processes $7.38b vs est. $7.02b (5 ests.)
  • Sees “strong demand” for cloud-based services

* * *

INTC: Q4 non-GAAP EPS beat $0.79, Exp. 0.75, Revenue $16.4BN, Exp. $15.8BN

  • Sees 1Q adj. EPS 65c +/- 5c, est. 61c
  • Sees 1Q adj. GM 63% +/- Couple Pts, est. 61.9%
  • Sees 1Q rev. $14.8b +/- $500m, est. $14.5b
  • Sees year rev. roughly flat; expected to grow in low single digits excluding Intel Security Group from both years
  • Client computing rev. $9.1b, up 4% y/y
  • DCG rev. $4.7b, up 8% y/y
  • 4Q adj. gross margin 63.1% vs est. 63.1%

* * *

SBUX: Q1 EPS match non-GAAP EPS $0.52, Exp. $0.52; Revenue $$5.73BN, Exp. $5.83BN, Q1 Comps +3%, Exp. +3.7%

  • Sees revenue growth 8-10%, Saw growth in the double digits.
  • 1Q China/Asia Pacific comp. sales +5%, est. +3% (Consensus Metrix, average of 26)
  • 1Q Americas comp. sales +3%, est. +3.9%
  • 1Q EMEA comp. sales -1%, est. +1.8%
  • 1Q adj. operating margin +20.0%
  • 1Q China/APAC operating margin 21.2%
  • 1Q EMEA operating margin 16.8%
  • 1Q net new store openings in Americas 251

And how the respective shares are reacting:

The post Earnings Barrage: This Is What GOOGL, MSFT, INTC And SBUX Reported appeared first on crude-oil.top.


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Bonds, Dow, & Dollar Rise As Peso & VIX Protection Pounded

Anyone else get this feeling today…

 

S&P 2,300; Dow 20,100 early on but couldn’t extend gains…

 

NOTE Dow was closed right at 20100…

 

Despite the best efforts to crush VIX once again, the S&P could not hold on to gains… (NOTE that VIX was extremely wild around the 10.8 area where it died yesterday as Dow 20k hit)

 

VIX dropped intraday to its 2nd lowest level in 10 years…

 

It looks like the Short-squeeze ammo just ran out…

 

What happens next?

 

The Peso was pounded all day…

 

And the Dollar rebounded modestly… (pushing the Dollar Index back above 100)

 

Yen was the biggest loser today but all the majors lost ground as the greenback strengthened (though remains down on the week)

 

Remember, tonight is the last trading day for China before they go away for Golden Week (which has historically meant a weaker dollar and stronger gold)…

 

Despite stock gains and VIX decline, bonds were bid today (accelerating after a solid 7Y auction)

 

Gold and Silver are now lower on the week as copper and crude catch the reflation bug…

 

Gold and silver both broke below key levels ($1200 and $17)…

 

Bonus Chart: S&P hit 2,300 Record Highs today… and the gap between hope and reality yawns ever wider…

 

Bonus Bonus Chart: Today was the worst day for US Macro data since August…

The post Bonds, Dow, & Dollar Rise As Peso & VIX Protection Pounded appeared first on crude-oil.top.


No Image

Bonds, Dow, & Dollar Rise As Peso & VIX Protection Pounded

Anyone else get this feeling today…

 

S&P 2,300; Dow 20,100 early on but couldn’t extend gains…

 

NOTE Dow was closed right at 20100…

 

Despite the best efforts to crush VIX once again, the S&P could not hold on to gains… (NOTE that VIX was extremely wild around the 10.8 area where it died yesterday as Dow 20k hit)

 

VIX dropped intraday to its 2nd lowest level in 10 years…

 

It looks like the Short-squeeze ammo just ran out…

 

What happens next?

 

The Peso was pounded all day…

 

And the Dollar rebounded modestly… (pushing the Dollar Index back above 100)

 

Yen was the biggest loser today but all the majors lost ground as the greenback strengthened (though remains down on the week)

 

Remember, tonight is the last trading day for China before they go away for Golden Week (which has historically meant a weaker dollar and stronger gold)…

 

Despite stock gains and VIX decline, bonds were bid today (accelerating after a solid 7Y auction)

 

Gold and Silver are now lower on the week as copper and crude catch the reflation bug…

 

Gold and silver both broke below key levels ($1200 and $17)…

 

Bonus Chart: S&P hit 2,300 Record Highs today… and the gap between hope and reality yawns ever wider…

 

Bonus Bonus Chart: Today was the worst day for US Macro data since August…

The post Bonds, Dow, & Dollar Rise As Peso & VIX Protection Pounded appeared first on crude-oil.top.