Meet Peggy Whitson, Ax-2 Commander - Axiom Space

The Ax-2 Mission is the second private mission to the ISS.It will blast off from NASA Kennedy Space Center in May 2023 on a SpaceX Falcon 9 rocket with the crew flying in a Crew Dragon spacecraft.It will be a ten day mission consisting of research projects.The four person crew will also include two Saudi Arabian Mission Specialists.

When Can I Buy Shares of...? - Saudi Aramco Listing Still On

The public listing of Saudi Arabia's state-owned oil titan,Saudi Aramco,is still going to happen,insisted CEO Amin Nasser to CNBC on 23 September 2018.The plan to make an Initial Public Offering of Saudi Aramco shares has been postponed indefinitely while the company pursues a large 70% stake in Saudi Basic Industries,a petrochemicals concern.
According to Mr.Nasser:
From our side,I just want to say-reiterate-that the Government has announced that they are committed to the IPO.
It's a major deal.We are doing the due diligence currently.And you cannot list while you are going through an acquisition of this size.*
Saudi Aramco explains:
To achieve our vision,we continue to make progress on our journey to grow additional value and strengthen our resilience to crude oil market volatility through the strategic integration of our downstream operations and the development of our chemicals business.
The scale of our upstream and downstream operations,and our expertise across the hydrocarbon value chain,position us to identify and capitalise on new opportunities and enter new markets.
The expansion of our downstream activities will increase our global presence,creating greater sustainable competitive advantage.*
Mr.Nasser adds:
The National Transformation Programme,designed to build the institutional capacity needed to achieve the ambitious goals of Saudi Arabia's Vision 2030,reaffirms Saudi Aramco's role as an important driver of the Kingdom's growth and enables the expansion of our commercial ecosystem.

As Market Falls,Fed Banker Explains China Slowdown,US Prospects-plus how many rate hikes in 2016

A slowdown in Chinese manufacturing in December,coupled with fears of intensifying conflict between Iran and Saudi Arabia,left global markets in a tailspin Monday.The Caixin/Markit China Manufacturing PMI fell to 48.2 in December from November's 48.6,the 10th straight monthly decline.A reading below 50 indicates contraction of the sector.The Reuters consensus estimate for December was 49.0.In response to the China index and the exogenous event in the Middle East,the S&P 500 Index fell 31.28,or 1.53%.Opinions on Wall Street were split over how significant the slippage was for the 2016 outlook.*
For San Francisco Federal Reserve Bank President John Williams,who spoke to CNBC at the American Economic Association annual conference,it's important to realise China is undergoing a pivot to slower growth,and a pivot away from manufacturing to the consumer sector.I think this is an ongoing process that China is going through,Mr.Williams said.We realise we're in a global economy and we're affected by it.The Chinese stock market is not a major concern as far as systemic risk right now.What we need to do is,focus on maximum employment and price stability.We're focused on the attainment of our objectives.*
We're in very good shape.Unemployment is at 5% and GDP growth is a little over 2%.We're a little ahead of the pack in getting back to full employment and on a sustainable path.Where we're being hit hard is on our net exports,a significant part of our economy.Inflation is one thing we're still struggling to get up to our goal of 2%.We're on a pace to add continued job gains.That's very positive for the economy-a growth path of 2-2.5 GDP and unemployment edging back down to 5%.*
There are always unforeseen events:the dollar,oil prices.I have a medium-term outlook.I want to focus on what's happening over the next 2-5 years.I'm not concerned about the ups and downs of market moves.We have a capitalist system and that's what happens.We're on a growth course that would lead to 3-5 Fed rate hikes in 2016,Mr.Williams projected.

Middle East Threats Help Keep Oil Prices Up

Saudi Arabia's Interior Ministry spokesman Mansour Turki said there was information about a possible act targeting a mall or Saudi Aramco installations.We passed this information to the security forces to be on alert.*
The threat was not specified,but it could be from Houthi rebels in neighbouring Yemen that Saudi Arabia has been in conflict with since 26 March,conducting numerous air strikes on the Iran-backed Houthis with Persian Gulf and other allies participating.It could also be a threat from al-Qaida in the Arabian Penninsula,which has carried out raids on Saudi territory before,or from ISIL,both of which groups are active in Yemen.
Frayed nerves were in evidence Saturday as guards at a shopping mall in central Riyadh barred single men from entering and searched female shoppers' bags,Reuters reported.AQAP militants had staged a car bomb attack on the Aramco refinery at Abqaiq in 2006,but were killed when security forces opened fire on them,causing one of the two car bombs to explode,which in turn damaged a pipeline.After the attack,a dedicated Facilities Protection Force was set up with 40,000 personnel.*
Meanwhile,a proposed pan-Arab security force to counter ISIL and other Islamist extremists is moving closer to reality.On Wednesday,Arab defence chiefs will confer in Cairo on specifics about the force such as how it will be constituted;what its role will be;and the details of financing it,according to the Arab League.The drive was spearheaded by Egypt in the wake of ISIL's February killing of 21 Coptic Orthodox Christians who were citizens of Egypt working in Libya.
On Sunday,there was more trouble when ISIL released a video showing at least 28 Ethiopian Orthodox Christians being executed in two different Libyan locations,on a beach and in the desert,some by shooting and some by beheading.ISIL referred to the victims as followers of the cross from the enemy Ethiopian Church.
The United States condemns in the strongest terms the brutal mass murder purportedly of Ethiopian Christians by ISIL-affiliated militants in Libya,National Security Council spokeswoman Bernadette Meehan said.This atrocity once again underscores the urgent need for a political resolution to the conflict in Libya to empower a unified Libyan rejection of terrorist groups.*
West Texas Intermediate crude closed up 0.64,or 1.15%,to 56.50 bbl;while Brent crude inched up .07,or 0.11%,to 63.52 bbl in Monday trading.Other factors in the increase included a smaller stockpile of WTI crude and a decline in the number of US oil rigs.

Saudi Aramco Raises Asian Oil Prices;Brent and WTI Prices Follow Suit

Saudi Aramco Oil Co. has raised its prices for all crude grades to be sold to Asia in May by thirty cents,based on strong refining margins in the region and a strong Dubai crude benchmark price.These factors could reflect strong Asian demand for oil.It is the second month in a row the state-owned energy titan has raised crude prices.
Other factors boosting crude prices may include the continued fighting in Yemen between a Saudi-led coalition of states and Iranian-backed Houthi Shiite rebels,and a weaker US dollar on Friday's lackluster employment report;as well as the realisation that sanctions on Iranian oil will not be meaningfully lifted for at least a year,even if the recently achieved framework agreement receives final approval from US and Iranian authorities.Morgan Stanley issued a report saying that,while clearly a bullish headline,a final deal and full lifting of sanctions still faces a number of obstacles.Even if a final deal is reached,we do not expect any physical market impact before 2016,said Adam Longson,head of oil research at the investment bank.
Oil prices on both sides of the Atlantic rose sharply Monday.NYMEX WTI crude futures rose 6.1 % to close at 52.14 bbl;while London Ice Futures Brent crude climbed 5.8% to 58.12 bbl.These were the largest one-day percentage increases since 3 February.
Another factor being cited in the oil price rise was a decline in the US dollar versus the euro Monday.The EURUSD pairing rose 0.06%.New York Federal Reserve Bank president William Dudley also made some concerning remarks,noting that a stronger dollar has given a significant shock to the US economy and low oil prices will exact a meaningful drag on growth as they shackle the energy industry's exploration plans.

Prospects in Energy and Tech

The Permian Basin is an energy-rich sedimentary formation primarily in West Texas and Southeast New Mexico.Permian Basin shale oil is said to be second only to Saudi Arabia.Pioneer Energy is the Permian,said CNBC host Jim Cramer.EOG Resources is there,too,and so is Cemerex Energy.
Energy is the hottest IPO sector,up 27% in 2014.*
Google made 20 acquisitions in robotics in 2013-also in artificial intelligence.It's no longer just search.It's a way to be diversified without buying a bunch of names.This is truly a robotics company.They have their eye on the future.Ten to fifteen years out,it seems Google has gobbled up all the talent.
IBM and CISCO also buy into artificial intelligence,while Intel is now into wearable tech and robotics.3-D imagery and artificial intelligence are disruptive.
Intel has raised its guidance and was upgraded by Morgan Stanley.Intel's going right to 40.Business is much stronger,the yield's still three and change.We have a leader in old tech.You have to dust off the old playbook of what to do when Intel gets it right.The engineers are in charge-a 100% change in leadership.They are in gaming;they are in mobile.Look out,Samsung.*
Sony is bringing PlayStation TV out this fall.*
I think that Yahoo is a buy off of Alibaba going public soon,Cramer noted.*
Goldman Sachs has upgraded Hewlett-Packard from sell to neutral.HP's management has executed far better than we anticipated,Goldman said.The stock has appreciated 50% since it was downgraded.*
Twitter's COO Ali Rowghani has resigned-perhaps on a lack of user growth.Twitter does not intend to hire a replacement.On day to day usage and monetising,Twitter isn't in the same league as Facebook,CNBC's John Forte pointed out.*
The merged Sprint/T-Mobile company is to be branded T-Mobile.A definitive agreement is still weeks away.They agreed on a two billion breakup fee.They have to develop a playbook for DOJ opposition.Without the merger,neither firm is capitalised enough to compete with the other two telecoms,CNBC colleague David Faber said.
Sprint(S),T-Mobile US Inc(TMUS),Intel(INTC),Hewlett-Packard(HPQ),Pioneer Energy(PXD),Google(GOOG),Facebook(FB),Cemerex Energy(XEC),EOG Resources(EOG)

MH-370:Big Shift in Search Area;Obama to Saudi Arabia

Of a sudden,the Australian Maritime Safety Authority shifted the search area for the MH-370 airliner.John Young,Managing Director of the agency,said the international investigating committee in Malaysia,folowing a re-analysis of radar data from when the plane was still in contact,had provided new information to the effect that the aircraft was traveling faster than had been thought,meaning it ran out of fuel before it could have reached the old search area.The new area is 1100 kilometers?700 miles northeast of the old area,bringing it out of the Roaring Forties,the area of the worst weather and sea states in the Indian Ocean.
The hundreds of pieces of debris previously spotted by satellites in the old search area may still be parts of the downed plane.They may have drifted from the new search area.
This shift is typical of such investigations,which are constantly reevaluating the situation.
The new area is 1044 miles due west of Perth,and cuts the air transit time from four hours to three.In consequence,search aircraft will use less fuel in transit,and so will have an extra hour to search.Couple that with better visbility and the new area is much more advantageous to searchers.
Satellites have been retasked to focus on the new area.Four of the ten aircraft scheduled for the day were already surveying the new site.It's not at all frustrating,because we train for this every day,said Commander William Marks,US Navy,spokesman for the Seventh Fleet,which is providing the advanced P-8 Poseidon reconnaissance aircraft to the effort.To the pilots and air crew,this is just what they train for.We have a continuous 24-hour presence over the region.This is one of our missions,and we're very proud to be a part of it.*
For the Americans,the visit of President Barack Obama to Saudi King Abdullah in Riyadh today is to reassure Saudi Arabia that the US remains a loyal strategic partner.Saudi Arabia is concerned that the White House is getting too close to distrusted Iran,and that the President was weak when he cancelled plans to attack the Assad forces in Syria because of Congressional opposition.Despite growing US energy independence,the Kingdom of Saudi Arabia remains one of the United States' oldest and most important allies in the Middle East.

US-Saudi Talks Focus on Syria

US Secretary of State John Kerry continues his journey to the Middle East and Asia this weekend.The trip began June 21 and extends through July 2.On Tuesday 25 June,Mr.Kerry held talks with Saudi Arabia's Foreign Minister,Prince Saud al-Faisal,in Jeddah,Saudi Arabia.
In remarks following their meeting,His Royal Highness described the talks with John Kerry as having been a fruitful,constructive discussion,transparent and open-minded.At the top of their agenda was the crisis in Syria.
Perhaps the most ominous development is the involvement of foreign forces,Prince Saud noted,foremost of which is the motions of Hezbollah with support from Iran's national guard in the mass murder of Syrians,with unlimited military support from Russia.This critical turn of events cannot be overlooked.
Over and above the regime's genocide against its own people,this adds an even deadlier element in the form of an all-out foreign invasion that breaks every international law,protocol and principle.This violates the Syrian land and turns it into a battleground for global and regional conflicts and puts it under the mercy of sectarian struggles.
Syria can only be considered an occupied land.This requires a firm stand and speedy action from the international community.
I would like to commend the US decision to send military aid to the Free Syrian Army,and express my relief for what I heard today from the US Secretary of State concerning both changing the balance of forces on the ground and maintaining the legitimacy of the Syrian National Coalition as the sole representative of the Syrian people,Saudi Foreign Minister Prince Saud said.
Mr.Kerry is currently meeting in Amman,Jordan and Jerusalem with Jordanian,Israeli and Palestinian officials on advancing the Middle East peace process.From there,he will travel to Brunei for ASEAN meetings.

Kerry Gathers His Thoughts Before First Overseas Trip

Our lives as Americans are more entwined than ever before with the lives of those in other countries we may never have visited.My friends,no politicians can put this genie back in the bottle,said new Secretary of State John Kerry at the University of Virginia in Charlottesville on the eve of his first overseas trip,to Europe and the Middle East.Our citizens deserve a strong foreign policy to protect our place in the world.
This is a time to continue to engage for the sake of our safety and economy-95% of the world's customers live outside our own country.These investments in foreign engagement are paying for themselves.Indonesia is placing the largest order for aircraft that Boeing has ever filled.China is out second largest trading partner.Eleven of our fifteen largest trading partners used to be beneficiaries of US foreign assistance.
We are a country without any permanent enemies.Senator John McCain and I worked for 10 years to bring about relations with Vietnam.Our trade with Vietnam has increased more than 700% since then.
Our foreign service personnel screen for potential security threats on far shores before they can reach the homeland.A transatlantic partnership will match the scope and ambition of our transpacific partnership talks.
Jobs and trade are not the whole story;nor should they be.Failed states are among our greatest security threats.Deploying diplomats today is much cheaper than deploying troops tomorrow.It's national security insurance that we're buying,as Senator Lindsey Graham said.Diplomats fight corruption overseas and support the rule of law.All of that danger and risk that they take makes us more secure.
Countries are more secure and prosperous when women and girls are afforded more opportunities.Today more than a quarter of the Afghan parliament is women.
Foreign assistance is an investment in a stronger America.For the first time in history,young people around the world act as a global cohort.We need to help them and us use this remarkable network in a positive way.There is no pause button on the future.Responding is the American thing to do.
The greatest challenge is not in the hands of diplomats,but of Congress.We can't be strong in the world if we are not strong at home.My credibility as a diplomat is strongest when America puts its own fiscal house in order-and that has to be now.Let's not lose this opportunity because of politics.
After World War II,we didn't spike the football;we created a more level playing field,and we are stronger for it today.Now we face a similar crossroads as new markets bloom in every part of the world.Our sense of responsibility has to be exercised.What happens over there matters right here,and it matters that we get this right,Secretary of State John Kerry concluded before departing for the UK,Germany,France,Italy,Turkey,Egypt,the UAE,Saudi Arabia and Qatar this weekend.

GE Makes New Saudi Commitment

General Electric,active in Saudi Arabia since 1942,has made a new commitment to invest 1 billion dollars there in the fields of energy,health care and innovation.The GE Innovation Center will be a collaborative place that will foster innovation in its DNA and drive a culture of co-creation to realise Vision 2020,the company says.The Center will open in early 2013 in the Eastern Province's Dharhan TechnoValley.
Vision 2020 emphasises Energy Diversification;Education;Research and Development;Quality Health Care;and Human Capital.The GEIC will bring together different players from customers,to academics and think tanks to collaborate and co-create,with the shared goal of finding solutions to realise Vision 2020.Reportedly 92% of Saudis feel innovation can drive a competitive economy.GE will work to incubate local innovation through the GEIC.
GE is providing Saudi Arabia with military and commercial aircraft jet engines;health care technologies and training;gas turbine technology through the GE Manufacturing Technology Center,or GEMTEC;and financial solutions.GEMTEC manufactures and services high tech energy equipment in the form of highly reliable and efficient gas turbines,which are characterised by operational flexibility and reduced emissions.
GEMTEC supports Saudi Arabia's strategic direction for the future.It currently employs 350 people,50% of whom are Saudis.GE is expanding GEMTEC to provide hundreds of new jobs in several new buildings.

Federal Rules Impel SAIC To Split Itself Up

Federal conflict of interest rules are forcing SAIC,the former Science Applications International Corporation,to divide into two separate companies.The rules make it harder for a company that combines services and solutions functions as SAIC does to compete for contracts.Under the leadership of new CEO General John P. Jumper,US Air Force retired,the IT-oriented research group will spin off its 4 billion dollar a year services business from the larger 7 billion a year solutions business.
The services business will provide systems engineering and technical assistance,plus financial analysis and program office support.The solutions business will offer science and technology for national security,engineering and health projects such as communications,intelligence,logistics and electronic warfare initiatives.
SAIC was founded by a small group of scientists led by physicist J. Robert Beyster,PhD in 1969.The FORTUNE 500 company addresses complex and critical technology-related needs such as cancer research at its SAIC-Frederick subsidiary in Maryland.SAIC-Frederick develops and applies advanced technologies to translational research,accelerating the delivery of new cancer and AIDS treatments.The activity supports the National Institutes of Health's Frederick National Laboratory for Cancer Research,employing nanotechnology,genomics and biomedical imagery in both basic and applied research.
SAIC employs about 40,000 people at locations from Virginia to Saudi Arabia,Bahrain and the United Arab Emirates.
SAIC,Inc(SAI)

Advantage View:Inside Saudi Arabia

Robert W. Jordan,former U.S. Ambassador to Saudi Arabia,has been assessing the kingdom's position in the recent wave of change sweeping the Middle East.King Abdullah is seen as a very sincere,non-corrupt ruler by his people.
We do need to carefully watch the middle class and the jobless.That could percolate over the next several years.Fifty percent of Saudis under 18 have poor prospects,but the people are impressed by the kingdom's investments in infrastructure.
There is tremendous liquidity in the Middle East,but Iran's hands are at work in the Yemen,Bahrain and Lebanon troubles.
The oil field security in Saudi Arabia is good.Overall,the business view is positive.
In Bahrain,it appears the king and crown prince will likely survive.They appear to have gotten a grip on the troubles,the former ambassador feels.
Mr.Jordan is currently Partner in Charge of Middle East Practice at law firm Baker Botts LLP.The firm has offices in Abu Dhabi,Dubai and Riyadh,Saudi Arabia.
Although a Saudi Arabian firm has created two exchange-traded funds based on the country's Tadawul stock market,they are not traded on U.S. exchanges as of yet.The Gulf Cooperation Council etfs are only available ex-Saudi Arabia.
iShares MSCI GCC Countries ex-Saudi Arabia(IGCC)

Saudi Aramco's Long View

Saudi Aramco,Saudi Arabia's state oil firm,sees its prospects from a long term perspective.Oil demand in the West is currently very sluggish,according to Khalid al-Fallih,CEO of Saudi Aramco,but Saudi Arabia can survive on lower prices than others can,given the scale of its production.The world has 9-10 trillion barrels of oil.If we look at history,Mr.al-Fallih says,the industry has been able to replace its reserves and more.Our expectations in technology,both in discovery and production,have been very,very bullish.It's gonna take decades to shift from oil in any meaningful way.There is a happy medium,Mr.al-Fallih assures us,where consumers will not be hurt and investors will support exploration.

A Big Investor's View

Prince Alwaleed bin Talal of Saudi Arabia,a Citigroup investor since 1991,described Citi as a core investment for him.The fact that CEO Vikram Pandit was left in office proves that the government doesn't want to run the company.I expect to see Citi's dividend raised in three years,the prince said.Until then,we are prepared to accept the dividend cut.We need to give Mr.Pandit some time.He's a man of a mission,of strong vision.Citi is still far from being a nationalized entity,Prince Alwaleed insisted.The deal allows a bounce-back if the markets improve.Frankly,the recent share price destruction is the fault of Citi's previous management,His Royal Highness observed.

Shop Talk

Hello to the U.K.,where I advertised this week.The U.K. and the rest of the world are focused on a truly global firm today,Citigroup,whose stock has fallen below five dollars a share.One of the most impressive aspects of the news is the loyalty of Citi's investor, Prince Alwaleed of Saudi Arabia.His Royal Highness has not only not sold his stake in the financial giant;but increased it from less than four up to five percent.He is more than an investor;he is a great friend.Anyone with an interest in the firm should be thanking Prince Alwaleed for being indefatigable.If only the trading floor of the New York Stock Exchange were inspired by his judgement,instead of bolting like a herd of crazy buffalo.

Shop Talk

This week I advertised in Saudi Arabia.To you of the Kingdom,my wishes for God's favor-blessed be His name.The Beijing Olympics are almost over.What will Olympics fans do then?I suppose we will dream of the Vancouver winter games in 2010.At least we won't have to wait four years for the next Olympics like we used to.

Responding To Rough Markets

In recent congressional testimony,Ben Bernanke,chairman of the Federal Reserve,said financial markets are stressed,but central bank efforts have helped.The Federal Reserve will act in a timely manner to support growth.Commodity prices and the housing market will weigh on the economy in coming quarters.It is important to recognize that downside risks to growth remain.Inflation could go higher because of energy,food and the weak dollar.Commodity price gains and price rises suggest the upside risk of inflation.The economic situation has become distinctly less favorable.The economy took a significant turn for the worse in early January.Credit conditions may tighten considerably further.The federal deficit is bigger and more threatening than it was in 2001.We're in a worse position to respond to a crisis.The unemployment rate is likely to go higher.The decline in home prices is creating a broad set of issues.Nonetheless,the former professor doesn't think foreign investors have lost confidence in the U.S..U.S. banks should take steps to raise more capital.Some bank failures could take place.The capital ratios of the largest banks remain good.Sheila Bair,chairman of the Federal Deposit Insurance Corporation,agrees.She says 99% of banks are well-capitalized.About 76 banks are on the troubled list,representing around 22 billion dollars U.S. in assets.We're in a challenging environmment,but we have a 52 billion insurance fund.There will be a bit of an uptick in bank failures this year.To handle this,the FDIC wants to bring back 25 retired bank examiners.There are 1200 FDIC employees working in bank receivership.Senator Evan Bayh(D-Indiana) has just returned from a trip to the Middle East.There he met with heads of sovereign wealth funds who are helping U.S. firms such as Citigroup(C) by infusing capital.Senator Bayh said he was reassured by the officials in Abu Dhabi,Qatar and Saudi Arabia.They want to do the right thing.They are eager to meet any U.S. standards.Saudi Arabia's fund is 300 billion,Qatar's is 50 billion,and Abu Dhabi's is the largest in the world at 550-900 billion dollars.To increase their wealth,many retail investors are looking to exchange-traded funds such as the PowerShares Builders Europe 100(ADRU),which is yielding 7.33%,or the SPDR KBW Regional Banking ETF,which yields 6.13%.