June 24, 2013
A Kuwaiti sheikh is suing UBS AG for $21.4 million, alleging the Swiss bank failed to pay him for helping it become lead arranger on a $9 billion asset sale by the Kuwaiti telecommunications operator Zain, a Dubai court heard on Sunday.
The Russian Direct Investment Fund (RDIF) and Mubadala Development Company (Mubadala), the Abu Dhabi-based investment and development company, have announced the launch of a $2 billion co-investment fund to pursue opportunities in Russia.
June 23, 2013
Morocco will begin deregulating prices for some basic goods in the next two weeks, its first step towards reducing subsidies, its general affairs minister told Reuters.
Egypt's central bank left its main overnight interest rates unchanged as expected on Thursday, as economic growth remains tepid more than two years after the uprising that ousted Hosni Mubarak.
BP has agreed a price for any gas produced from Oman's Khazzan project as part of a commercial framework agreement with the government, the British energy company said on Thursday.
Gold plunged to its lowest in more than 2-1/2 years on Thursday, with investors exiting in droves after the U.S. Federal Reserve gave its most explicit signal yet that it plans to bring the era of easy money to an end.
Fitch Ratings has affirmed Jebel Ali Free Zone FZE's (JAFZ) Long-term Issuer Default Rating (IDR) at 'B+', with a Stable Outlook.
First Gulf Bank (FGB) has signed an agreement to acquire Dubai First, the consumer financial services business, from Dubai Financial Group for AED 601 million in cash.
The Iranian currency, the rial, rose further on Thursday on hopes the country's economy could improve under its next president, a relative moderate elected last week.
The GCC economies are expected to grow at 5.6 per cent by the end of this year, said a report citing a top regional banking official.
June 20, 2013
In April 2013 Qatar’s trade balance of goods showed a surplus of QAR 35.2 billion, i.e. an increase of QAR 0.8 billion, (2.2 per cent) compared to the same period of 2012, accordint to the QSA.
State-owned Abu Dhabi Marine Operating Co (Adma-Opco) has awarded a 2.8 billion dirhams ($766 million) contract to a local firm to develop an offshore field as its expands production of crude oil.
Tunisia's first issue of a sukuk (Islamic bond) is likely to be postponed to next year, adding to pressure on government finances, because of disruptions to legislative business.
The subscriptions to IPOs (initial public offerings) in the Saudi stock market dropped drastically during the year, according to a recent economic study.
Kuwait's acting oil minister said yesterday current oil prices were "fair" and that the Gulf Arab state was producing around 3 million barrels of crude per day.