Main headlines
June 10, 2013
Russia’s Rosneft is under no pressure to sell assets to fund debt repayments and will decide how to streamline its business once cost savings from a takeover of rival TNK-BP become clear, its finance chief said.
The UAE and Qatar will see a gradual surge in foreign investment inflows of up to $3 billion if they get elevated to the emerging market status tomorrow, investment managers said.
The regulation allows a shareholder who does not want to or cannot subscribe for the share increase to sell his rights for financial benefit.
Emaar Properties has unveiled its newest residential development in the city.
Taking cue from the strength in global equities, the Muscat Securities Market general index traded in positive territory, gaining 0.79 per cent to close at 6,549.61 on Sunday.
The Dubai and Abu Dhabi benchmarks fell yesterday, led by real estate stocks, that had some of the biggest gains this year ahead of index compiler MSCI Inc.’s decision on its review of UAE’s and Qatar’s possible upgrade to emerging market from its current frontier status.
June 9, 2013
Qatar's Central Bank said on Thursday it would issue 1 billion Qatari riyals ($300 million) worth of sukuk and 3 billion riyals worth of bonds next week.
A project that aims to nearly double the amount of power produced in Bahrain to help meet its future water and electricity demands is gathering pace.
The Central Bank of Egypt (CBE) announced a $1.6bn increase in Egypt’s net foreign currency reserves to $16.04bn at the end of May, but analysts warn this is a “temporary phenomenon”.
Dubai Global furniture solutions leader Intermetal, a Group Harwal Company, has invested Dh75 million to establish a new factory in Dubai.
The Abu Dhabi Department of Economic Development (ADDED) said yesterday economic conditions in the emirate improved considerably in the first quarter this year led by an outstanding performance of local banks and the stock market that was further boosted by high global oil prices and inflow of tourists into the emirate.
Prime Minister Mohammed Salem Basindwa met on Saturday a Russian economic and investment delegation, headed by Russian deputy minister of Economic Development Alexei Likhachev who is currently visiting Yemen.
Sudan's central bank has issued a directive prohibiting individuals from importing all types of gold including refined and bars unless an import permit is acquired from the Ministry of Commerce.
The statement comea a few weeks ahead of planned protests for 30 June and amid an already-ailing economy one year into President Mohamed Morsi’s tenure.
June 6, 2013
The waivers were granted to major oil importers China, India, Malaysia, Republic of Korea, Singapore, South Africa, Sri Lanka, Turkey, and Taiwan.
