DUBAI: Qatar's decision to expand its issues of Treasury bills is succeeding in draining excess liquidity from the banking system, but it also appears to have another, long-term policy purpose: building a complete Qatari riyal yield curve.
That (...)
DUBAI: National Bank of Abu Dhabi is eyeing a return to global debt markets with a five-year dollar bond which could raise up to $750 million and may price as early as Monday.
The lender is targeting a maximum deal size of $750 million at (...)
DUBAI: Kuwaiti financial markets were steady on Sunday after the Islamist-led opposition won control of parliament in an election, a victory which could worsen political tensions but conceivably also lead to fresh government spending (...)
DUBAI: Dana Gas, which faces a $1 billion sukuk maturity in October, posted sharply higher fourth-quarter and yearly profits on Monday, buoyed by an increase in production and higher oil prices.
Abu Dhabi-listed Dana, which has operations in the (...)
DUBAI: A rush of Islamic bond sales from the Gulf region in coming months could give companies much-needed access to funds, but it is likely to end a period of unusually low borrowing costs in the sukuk market.
For perhaps the first time in the (...)
DUBAI: Abu Dhabi Islamic Bank will hold investor meetings for a potential dollar-denominated Islamic bond, or sukuk, starting next week, it said in a statement to the bourse on Wednesday.
Meetings kick off in Kuala Lumpur on Nov. 17, and will (...)
DUBAI: French lender Credit Agricole is considering either issuing an Islamic bond or creating a wider sukuk program that could lead to several issues, as European banks seek to diversify funding, a senior executive said on Thursday.
"It's (...)
DUBAI: Leading global investment banks, including Credit Suisse AG , are cutting research staff in the Middle East to save costs amid tough global conditions and a dearth of work in the region.
Japan's largest investment bank Nomura has shut down (...)
DUBAI: Walk through any of Dubai's immaculate, air-conditioned shopping malls, and the scent of spicy perfume becomes an integral part of the shopping experience.
From boutiques to sales clerks offering samples, there's no shortage of fragrances (...)
DUBAI: HSBC's Middle East unit priced a $500 million Islamic bond on Thursday at 155 basis points above midswaps, carrying a maturity of five years.
The Islamic bond, or sukuk, yielding 3.575 percent, saw regional investors taking up 58 percent (...)
DUBAI: Bank of America Merrill Lynch has poached the top executive at Egyptian investment bank EFG-Hermes in the Gulf to run its business in the Middle East North Africa region, two sources said on Monday.
Phil Southwell has run EFG in the Gulf (...)
DUBAI: HSBC, Europe's largest bank, plans to cut its Middle East workforce by up to 3 percent, the lender said in an emailed statement on Wednesday.
"Fewer than 3 percent of HSBC's total workforce of over 12,000 in the Middle East and North (...)
DUBAI: Abu Dhabi-owned International Petroleum Investment Co (IPIC) priced a dual-tranche dollar bond on Tuesday, the first from a fully government-controlled entity of the emirate this year and the latest from the region to tap strong investor (...)
DUBAI: Dubai-based global ports operator DP World, a unit of conglomerate Dubai World filed an updated prospectus for a $5 billion bond program, raising the possibility of an issue in the near future.
In October, chief executive Mohammed Sharaf (...)
DUBAI: Qatar Telecom (Qtel) will begin a road show for a benchmark-sized dollar bond on Oct 4, and six banks have been mandated to manage the sale, a banker familiar with the matter said.
Qatar International Finance Ltd., a wholly owned (...)
DUBAI/MUSCAT: Omani firm Nawras, a unit of Qatar Telecommunications, could raise as much as $608 million in its 40 percent initial public offering (IPO) after setting a price range of 702-902 baisas per share.
Nawras, which broke the monopoly of (...)
DUBAI: Dubai Holding's main unit will delay repayment on a $555 million loan until Nov. 30, the company said on Tuesday, the second time it has failed to meet a repayment deadline.
DHCOG, a unit of the conglomerate owned by the Gulf Arab (...)
DUBAI: The lure of Islamic bonds appears to be wearing off for conventional borrowers in the Gulf, even as the global industry grows, with high-profile defaults and rising costs souring their appeal.
On a global scale, Malaysia continues to (...)
DUBAI: Qatar International Islamic Bank (QIIB) wants to raise its holding in the Islamic Bank of Britain to a "significant stake" by offering new shares, it said on Wednesday.
The increase is subject to regulatory approval and shareholders of the (...)
DUBAI: Qatari Diar Finance, a part of the property arm of the state sovereign wealth fund, plans to launch a government-backed dual tranche bond this week, the first international issue from Qatar this year.
Early yield guidance for the dual (...)
DUBAI: State conglomerate Dubai World has invited holders of $14.4 billion of its troubled debt to their first full-scale meeting since December last year to sell them a restructuring deal.
Under the deal, already agreed by main lenders, banks (...)
DUBAI: Dubai Holding's main unit will not be repaying a loan that was due on Thursday, saying lenders have agreed to extend the $555 million credit, in the latest blow to investors in Dubai's troubled debt program.
Lossmaking Dubai Holding (...)
DUBAI: Kuwait Projects Company (KIPCO), is considering a benchmark-sized bond issue with a 10-year tenor, lead arrangers said on Wednesday, making it the first offering from a Kuwaiti corporate this year.
KIPCO is Kuwait's largest investment (...)
DUBAI: Dubai construction heavyweight Arabtec is focusing on winning projects in new markets following the downturn in Dubai and does not require any additional funding, its chief executive said on Monday.
The largest builder in the United Arab (...)
DUBAI: United Arab Emirates telecoms services provider raised AED1 billion ($272.3 million) as planned, the company said on Tuesday, to fund a growth plan and compete with market leader Etisalat
Du, owned partly by the ruler of Dubai's investment (...)