Two Bahraini banks in merger talks as consolidation picks up
Bahrain's Al Salam Bank and BMI Bank, an affiliate of Oman's Bank Muscat, have announced plans to merge, a tie-up which would create the kingdom's third-largest bank by assets, the lenders said in a statement.
Reuters - Thu 23May13 07:10 GMT
Dubai's MAF picks banks for hybrid bond sale - leads
Dubai's Majid Al Futtaim (MAF), which is buying Carrefour's stake in a regional joint venture, has picked five banks to arrange the sale of a dollar-denominated hybrid bond, a document from lead arrangers showed.
Reuters - Thu 23May13 06:10 GMT
Abu Dhabi's ADCB sells USD300m of subordinated bonds
Abu Dhabi Commercial Bank will sell USD 300 million in a subordinated bond on Wednesday, according to the deal arranger, just over two months after its last debt markets outing.
Reuters - Wed 22May13 12:08 GMT
Enterprise Qatar's USD100m fund targets SMEs
Enterprise Qatar (EQ), a corporation established in 2008 backed by the Qatari government, is set to launch a QAR 364 million (USD 100 million) fund aimed at financing small and medium enterprises (SMEs), a top-level official from the company told Zawya.
Zawya - Thu 23May13 08:34 GMT
Egypt sets sights on USD296m Dakahlia agro complex
The Egyptian government is considering the establishment of an agricultural industries complex, covering a total land area of 303 acres in the governorate of Dakahlia, for an estimated USD 296 million, an official from the state investment agency told Zawya.
Zawya - Thu 23May13 08:32 GMT
Egypt to seek funding for Heliopolis metro revamp
The Public Transport Authority of Cairo governorate is set to offer the Heliopolis metro network re-development as part of a Public Private Partnership (PPP) project by August, an official source told Zawya.
Zawya - Thu 23May13 08:36 GMT
Algeria sets USD200m for 6,000 housing units
The Algerian government has approved the construction of a 6,000-unit housing project in the southern province of Ouargla. Estimated at around USD 200 million, the development is set to start this month, an official source told Zawya.
Zawya - Thu 23May13 08:37 GMT
Algeria to build seven dams by end-2013
Algeria's ministry of water resources has set aside DZD 41 billion (USD 512 million) for the construction of seven dams to be located in the states of Batna, Tizi Ouzou, Souk Ahras, El Taref, Tissem silt, Al Shalf and Sidi Bel Abbès, a ministry official told Zawya.
Zawya - Thu 23May13 08:38 GMT
France backs call to put Hezbollah armed wing on EU terror list
France is ready to support a British initiative to put the armed wing of Hezbollah on the European Union's list of terrorist organisations, an official said on Thursday, confirming comments by Foreign Minister Laurent Fabius.
Reuters - Thu 23May13 07:10 GMT
QAR360bn fund boost for health, education in Qatar
HH the Emir Sheikh Hamad bin Khalifa al-Thani yesterday issued Law No 6 of 2013, establishing the Health and Education Fund with a capital of QAR 360 billion, providing a solid base for the realisation of Qatar's ambitious growth plans.
Gulf Times - Thu 23May13 06:23 GMT
Carrefour sells stake in Middle East supermarket JV for EUR530m
France's Carrefour said Wednesday it is selling its 25% stake in a Middle Eastern joint venture to local partner Majid Al Futtaim Holding for 530 million euros (USD 686 million), as Europe's largest retailer continues to purge its portfolio of businesses across the globe.
Zawya Dow Jones News - Thu 23May13 05:16 GMT
Gulf stocks seen rangebound; mixed US Fed message
Stocks in the Gulf region are seen trading in a tight band early Thursday after some mixed signals overnight from the U.S. Federal Reserve regarding monetary policy in the world's biggest economy, but local market sentiment remains supported by a relatively bright economic outlook.
Zawya Dow Jones News - Thu 23May13 05:01 GMT
Mena power projects threatened by poor funding
Power generation projects in the Middle East and North Africa (Mena) are facing obstacles because of poor funding resources given the huge costs of such ventures, according to an Arab government group.
Emirates 24|7 - Thu 23May13 04:31 GMT
New chapter in governance in UAE
Mobile government will work round the clock and will be a one-stop shop for everything, says UAE Vice-President
Gulf News - Thu 23May13 04:27 GMT
Brent slips below USD102 on weak China data, strong dollar
Brent crude futures slipped below USD 102 per barrel on Thursday as fresh data from China cast doubt on the strength of recovery in the world's second-biggest oil consumer and the dollar weighed on commodity markets.
Reuters - Thu 23May13 04:15 GMT