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  • UAE-economy-minister-cuts-2012-GDP-growth-outlook

    UAE feels no pressure to issue bonds

    The government of the United Arab Emirates will further discuss its plan to introduce a law allowing public debt issues at the federal level, and it feels no pressure to issue bonds despite a budget deficit, Obaid Humaid al-Tayer, Minister of State for Financial Affairs, said on Tuesday.

    June 19, 2012 5:26
  • India BPCL

    India’s BPCL starts rupee payments for Iran oil

    Indian state-run refiner makes its first rupee payment for Iran oil; Payment, equivalent to $482.19 mln, in settlement of last year's imports; Other Indian refiners expected to follow suit this week or the next

    June 19, 2012 5:25
  • Fujairah fuel storage

    Iran to add 1.1 billion litres oil production storage by 2013

    Iran plans to increase its oil products storage capacity by 1.1 billion litres (6.9 million barrels) by next March, oil ministry news service Shana said on Tuesday.

    June 19, 2012 5:23
 
 
  • Saudi Crown prince Salman

    Prince Salman named Saudi heir at time of turmoil

    Saudi Arabia's King Abdullah has appointed his defence minister, Prince Salman, as heir apparent, opting for stability and a continuation of cautious reforms at a time of challenges for the world's biggest oil exporter.

    June 19, 2012 10:30
  • HSBC

    Fitch cuts HSBC bank Middle East VR rating

    Fitch has cut HSBC Bank Middle East's viability rating (VR) one notch because of asset quality concerns, while keeping its long-term default rating at 'AA-', one notch below the main HSBC group.

    June 19, 2012 10:18
  • petrofac

    Iraq picks Petrofac for $95 million contract

    Iraq has picked British oil services firm Petrofac for a $95 million contract to carry out maintenance work for its new offshore terminals and sub-sea pipelines at the Gulf, an Iraqi oil official said on Monday.

    June 18, 2012 6:12
 
  • Saudi-Arabian-Airlines-Catering-company

    Saudi Airline catering unit IPO seeks $350 million

    The catering unit of Saudi Arabian Airlines is seeking to raise 1.3 billion riyals ($350 million) by floating 30 percent of its shares, the prospectus showed as the initial public offer opened to retail investors on Monday.

    June 18, 2012 6:08
 
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