The recent formation of an Iraqi government after a nine-month wait may reverse a downward trend for Dana Gas.
As part of the new cabinet approved by the Iraqi parliament this week, Abdul Kareem Luaibiwas appointed the oil minister, and analysts say he should be a solid partner for foreign companies with interests in Kurdistan, including Dana, based in Sharjah.
Mr Luaibi, the former deputy oil minister, previously managed Iraq's upstream development, including the auction of 11 oil and three gas deals to foreign companies. Dana Gas has been in a awkward position since the former oil minister Hussein Shahristani - now the deputy prime minister for energy - was involved in a decision that contracts awarded unilaterally by Kurdish regional authorities were illegal.
"Foreign oil companies knew exactly what they were getting into when they decided to invest in the Kurdish region," said Mustapha Alani, a senior adviser at the Gulf Research Centre in Dubai. "They knew the legal issues were foggy."
But already there are positive signs from the new government regarding Kurdistan.
Ali Hussain Balou, a top adviser to the Kurdish natural resources ministry, told Reuters that the appointment of Mr Luaibi would contribute to resolving oil-related issues with the central government.
And, one day into his new post, Mr Luaibi said he planned to meetKurdish oil industry officials soon and said dialogue "with our Kurdish brothers will continue in order to reach a resolution that is in the general interest".
Shares of Dana Gas have fallen by 17.4 per cent since September, closing yesterday at 71 fils.
Oil prices have risen to two-year highs at about $90 a barrel but that has yet to be reflected in the price of Dana stock.
A resolution of the contracts wrangle would also mean Dana would be able to export its byproducts from downstream activity at international prices.
[ halsayegh@thenational.ae ]
Company Profile
Name: HyveGeo
Started: 2023
Founders: Abdulaziz bin Redha, Dr Samsurin Welch, Eva Morales and Dr Harjit Singh
Based: Cambridge and Dubai
Number of employees: 8
Industry: Sustainability & Environment
Funding: $200,000 plus undisclosed grant
Investors: Venture capital and government
MO
Creators: Mohammed Amer, Ramy Youssef
Stars: Mohammed Amer, Teresa Ruiz, Omar Elba
Rating: 4/5
Top tips
Create and maintain a strong bond between yourself and your child, through sensitivity, responsiveness, touch, talk and play. “The bond you have with your kids is the blueprint for the relationships they will have later on in life,” says Dr Sarah Rasmi, a psychologist.
Set a good example. Practise what you preach, so if you want to raise kind children, they need to see you being kind and hear you explaining to them what kindness is. So, “narrate your behaviour”.
Praise the positive rather than focusing on the negative. Catch them when they’re being good and acknowledge it.
Show empathy towards your child’s needs as well as your own. Take care of yourself so that you can be calm, loving and respectful, rather than angry and frustrated.
Be open to communication, goal-setting and problem-solving, says Dr Thoraiya Kanafani. “It is important to recognise that there is a fine line between positive parenting and becoming parents who overanalyse their children and provide more emotional context than what is in the child’s emotional development to understand.”
Anti-semitic attacks
The annual report by the Community Security Trust, which advises the Jewish community on security , warned on Thursday that anti-Semitic incidents in Britain had reached a record high.
It found there had been 2,255 anti-Semitic incidents reported in 2021, a rise of 34 per cent from the previous year.
The report detailed the convictions of a number of people for anti-Semitic crimes, including one man who was jailed for setting up a neo-Nazi group which had encouraged “the eradication of Jewish people” and another who had posted anti-Semitic homemade videos on social media.
HEY MERCEDES, WHAT CAN YOU DO FOR ME?
Mercedes-Benz's MBUX digital voice assistant, Hey Mercedes, allows users to set up commands for:
• Navigation
• Calls
• In-car climate
• Ambient lighting
• Media controls
• Driver assistance
• General inquiries such as motor data, fuel consumption and next service schedule, and even funny questions
There's also a hidden feature: pressing and holding the voice command button on the steering wheel activates the voice assistant on a connected smartphone – Siri on Apple's iOS or Google Assistant on Android – enabling a user to command the car even without Apple CarPlay or Android Auto
FA CUP FINAL
Manchester City 6
(D Silva 26', Sterling 38', 81', 87', De Bruyne 61', Jesus 68')
Watford 0
Man of the match: Bernardo Silva (Manchester City)
Profile box
Company name: baraka
Started: July 2020
Founders: Feras Jalbout and Kunal Taneja
Based: Dubai and Bahrain
Sector: FinTech
Initial investment: $150,000
Current staff: 12
Stage: Pre-seed capital raising of $1 million
Investors: Class 5 Global, FJ Labs, IMO Ventures, The Community Fund, VentureSouq, Fox Ventures, Dr Abdulla Elyas (private investment)
'My Son'
Director: Christian Carion
Starring: James McAvoy, Claire Foy, Tom Cullen, Gary Lewis
Rating: 2/5
The five pillars of Islam
COMPANY PROFILE
Name: Haltia.ai
Started: 2023
Co-founders: Arto Bendiken and Talal Thabet
Based: Dubai, UAE
Industry: AI
Number of employees: 41
Funding: About $1.7 million
Investors: Self, family and friends
New Zealand 15 British & Irish Lions 15
New Zealand 15
Tries: Laumape, J Barrett
Conversions: B Barrett
Penalties: B Barrett
British & Irish Lions 15
Penalties: Farrell (4), Daly
Herc's Adventures
Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5
COMPANY PROFILE
Name: Xpanceo
Started: 2018
Founders: Roman Axelrod, Valentyn Volkov
Based: Dubai, UAE
Industry: Smart contact lenses, augmented/virtual reality
Funding: $40 million
Investor: Opportunity Venture (Asia)
A QUIET PLACE
Starring: Lupita Nyong'o, Joseph Quinn, Djimon Hounsou
Director: Michael Sarnoski
Rating: 4/5
UAE v West Indies
First ODI - Sunday, June 4
Second ODI - Tuesday, June 6
Third ODI - Friday, June 9
Matches at Sharjah Cricket Stadium. All games start at 4.30pm
UAE squad
Muhammad Waseem (captain), Aayan Khan, Adithya Shetty, Ali Naseer, Ansh Tandon, Aryansh Sharma, Asif Khan, Basil Hameed, Ethan D’Souza, Fahad Nawaz, Jonathan Figy, Junaid Siddique, Karthik Meiyappan, Lovepreet Singh, Matiullah, Mohammed Faraazuddin, Muhammad Jawadullah, Rameez Shahzad, Rohan Mustafa, Sanchit Sharma, Vriitya Aravind, Zahoor Khan
Naga
Director: Meshal Al Jaser
Starring: Adwa Bader, Yazeed Almajyul, Khalid Bin Shaddad
Rating: 4/5
MEDIEVIL (1998)
Developer: SCE Studio Cambridge
Publisher: Sony Computer Entertainment
Console: PlayStation, PlayStation 4 and 5
Rating: 3.5/5
The specs
Engine: 3.9-litre twin-turbo V8
Power: 620hp from 5,750-7,500rpm
Torque: 760Nm from 3,000-5,750rpm
Transmission: Eight-speed dual-clutch auto
On sale: Now
Price: From Dh1.05 million ($286,000)
Specs: 2024 McLaren Artura Spider
Engine: 3.0-litre twin-turbo V6 and electric motor
Max power: 700hp at 7,500rpm
Max torque: 720Nm at 2,250rpm
Transmission: Eight-speed dual-clutch auto
0-100km/h: 3.0sec
Top speed: 330kph
Price: From Dh1.14 million ($311,000)
On sale: Now
Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
BLACK ADAM
Director: Jaume Collet-Serra
Stars: Dwayne Johnson, Sarah Shahi, Viola Davis, Pierce Brosnan
Rating: 3/5
Manchester City (0) v Liverpool (3)
Uefa Champions League, quarter-final, second leg
Where: Etihad Stadium
When: Tuesday, 10.45pm
Live on beIN Sports HD
'Shakuntala Devi'
Starring: Vidya Balan, Sanya Malhotra
Director: Anu Menon
Rating: Three out of five stars