Egypt to offer 2 billion Egyptian pounds in 5- & 10-year bonds
The five-year bonds mature on April 10, 2017, and carry a 16.55 percent coupon. The ten-year bonds mature on April 3, 2022, and carry a 17 percent coupon.
July 17, 2012 10:30-
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Saudi drops to 3-week low; Emaar lifts Dubai
Shares in Zain Saudi slumped to a record low on Monday amid a slow initial take-up of its rights issue, while Saudi Arabia's index fell to a near three-week low. But Emaar Properties lifted Dubai's bourse.
July 17, 2012 10:17 -
Oman’s bank Muscat second quarter profit up 19 percent
Q2 net profit 35 million rials, beats estimates; H1 profit 68.4 million rials; Impairments for H1 down slightly, at 25 mln rials
July 16, 2012 4:54
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Ex-deutsche CEO Ackermann joins Kuwait NBK’s advisory board
Josef Ackermann, the former chairman and chief executive of Deutsche Bank, has joined the international advisory board of National Bank of Kuwait, the Gulf state's largest lender said on Monday.
July 16, 2012 4:53 -
Iraq initials oil block deal with Kuwaiti-led group
Iraq initialled an oil block exploration and development contract with a consortium led by Kuwait Energy on Monday as part of its drive to attract more foreign investment following years of war and sanctions.
July 16, 2012 4:52 -
Bahrain’s GFH restructures $45 million debt
Bahrain, restructuring, Islamic investment bank Gulf Finance House, $100 million wakala-structured facility, Bahrain-based Liquidity Management Centre
July 16, 2012 4:51
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NBAD appoints Yasin head of brokerage unit
National Bank of Abu Dhabi (NBAD), the largest lender by market value in the United Arab Emirates, has appointed Mohammed Ali Yasin as head of its brokerage subsidiary.
July 16, 2012 4:49 -
Markets lackluster as summer lull deepens
Gulf Arab bourses are likely to remain lacklustre on Monday as a summer trading lull, regional political tensions and sustained volatility on global equity and oil markets make investors wary of raising their risk exposure.
July 16, 2012 11:55 -
UAE’s TAQA gets $355 million financing for Ghana project
TAQA, which is owned 75 percent by the government of Abu Dhabi, will expand the Takoradi 2 (T2) power plant's capacity from 220 megawatts to 330 megawatts, the firm said in a statement.
July 16, 2012 11:35
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UAE nuclear plant gets environmental OK
The no objection certificate from the environmental regulator is one of several approvals needed for construction to begin on the two reactors at the Barakah nuclear power plant.
July 16, 2012 11:15 -
Saudi’s Mobily says second quarter net profit up 22 percent
The firm, an affiliate of the United Arab Emirates' Etisalat , said it made a net profit of 1.421 billion riyals ($379 million) in the three months to June 30, up from 1.164 billion riyals in the year-earlier period.
July 16, 2012 11:00 -
Iran renews Hormuz closure threats
Iran renewed threats on Sunday to close the Strait of Hormuz unless sanctions against it were revoked, though it remains unclear how Tehran could shut down the vital oil shipping channel given the significant American military presence there.
July 16, 2012 10:45
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Libor scandal forces Barclays from UAE rate panel
British bank Barclays plans to pull out of the rate-setting panel for interbank lending in the United Arab Emirates because of its involvement in the Libor scandal in Britain, industry sources told Reuters on Sunday.
July 16, 2012 10:28 -
Brent stays above $102 on China stimulus hopes
Asia shares extend rally as China growth within expectations; Bernanke's semi-annual monetary policy report key this week; Brent to retrace to $101.26 –technicals; Coming Up: U.S. retail sales mm June
July 16, 2012 10:26 -
Iraq signs gas contract with Pakistan Petroleum
Iraq signed an initial gas exploration contract with Pakistan Petroleum on Sunday as part of its push to attract more foreign investment to develop its energy sector following years of war and sanctions.
July 15, 2012 5:16
