Main headlines

June 10, 2013

The interest generated by the bid demonstrates the confidence that the local financial institutions place in supporting the local industrial sector
12:31 GMT

Qatar Petrochemical Company (QAPCO) has secured a QAR 1.1 billion facility from Barwa Bank to fund its expansion plans.

Al Noor is the second UAE healthcare company to launch an IPO and list on the LSE
12:22 GMT

Abu Dhabi healthcare firm Al Noor Hospitals plans to raise between $320 million and $390 million by offloading up to 34 percent of the company's stock through a flotation in London, it said on Monday.

Gulf Bank will jointly work with Korea Eximbank to provide financial solutions to Korean companies in Kuwait
11:38 GMT

Gulf Bank, with The Export Import Bank of Korea (Korea Eximbank), signed a Memorandum of Understanding which aims at collaboratively financing the industrial and commercial projects in the state of Kuwait.

The stock exchange's benchmark index dropped for its sixth day of declines
11:37 GMT

Egyptian three- and nine-month treasury bill yields climbed at auction on Sunday, with investors thin on the ground due to concerns over political unrest ahead of anti-government protests planned for June 30.

According to prosecution records, J.B. abused her post at the Dragon Mart administration and forged the blank cheques worth more than Dh1.3 million and wrote J. T.’s name as the beneficiary
10:52 GMT

A former woman executive with Nakheel allegedly fled to her home country after embezzling more than Dh1.3 million worth of tenancy contract cheques, a court heard.

“We are not moving as some expected us to move. We are moving at our own pace..."
10:46 GMT

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.

UAE would attract significant capital flows in additional foreign investment
07:00 GMT

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.

This new financial tool is arguably an addition to the markets and will further boost trading on those markets
06:00 GMT

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 launches new residential project
05:30 GMT

Emaar Properties has unveiled its newest residential development in the city.

Al Batinah Development was the top gainer for the day.
05:00 GMT

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 Abu Dhabi measure was down 0.25 per cent to 3590.43.
05:00 GMT

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 Central Bank to issue 4 billion riyals of debt
14:36 GMT

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.

Bahrain's  consumption now is nearly 3,000MW per day
11:36 GMT

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.

May forecast of foreign reserves were to increase to $19bn by the end of this year
06:58 GMT

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”.

Intermetal has set up a 300,000 square foot factory fully equipped with advanced manufacturing capabilities including CNC bending and routing machines
06:19 GMT

Dubai Global furniture solutions leader Intermetal, a Group Harwal Company, has invested Dh75 million to establish a new factory in Dubai.