Amer Khan says he could sense a stock market rally in late 2012 just from the street scene in Dubai, the financial capital of the United Arab Emirates. Tourists were once again jostling for a spot from which to watch the dancing fountains that adorn the downtown area. Recurring traffic jams, increasing retail sales and a rise in airport passengers were other signals for Khan, the senior executive officer at Dubai-based Shuaa Asset Management.
Royal Dutch Shell Plc, Europe’s biggest oil company, said Europe needs a price of $120 per ton of carbon dioxide for natural gas to compete with imported U.S. coal and subsidized renewable energy in power generation.
Royal Dutch Shell Plc, the world’s biggest liquefied natural gas supplier, may delay until 2014 a decision on its Arrow LNG venture that’s forecast to cost $20 billion amid rising expenses for energy projects in Australia.