Wednesday, May 25, 2011
The following is a Zawya Dow Jones selection of stories translated from Arabic newspapers published on May 25.
UNITED ARAB EMIRATES:
AL BAYAN
EGYPT TO SELL $1B US-BACKED EUROBONDS TO FUND BUDGET DEFICIT
The Egyptian government plans to sell five-year Eurobonds worth $1 billion, to finance the budget deficit and diversify its borrowing sources in light of a shrinking domestic market, said Finance Minister Samir Radwan.
SAUDI RAJHI HEAVY INDUS TO SET AED15B STEEL COMPLEX IN KAEC
Saudi Arabia's Emaar the Economic City, the developer of the King Abdullah Economic City, or KAEC, has signed a contract to rent out plots of land in the city to the local Al Rajhi Heavy Industries Co. to implement a 15 billion U.A.E. dirhams ($4.08 billion) project.
BANQUE MISR TO SELECT ADVISOR FOR STAKE SALE IN SAUDI SAMBA
Egypt's state-run Banque Misr is currently evaluating offers from five investment banks to select one as advisor for its planned stake sale in Saudi Arabia's Samba Financial Group.
Website: www.albayan.ae
AL ITTIHAD
ABU DHABI GAS DEVT AWARDS $699M DEALS TO DEVELOP SHAH FIELD
Abu Dhabi Gas Development Co., or Al Hosn Gas, has awarded deals worth $699 million that are part of its local Shah Field development project--a joint venture with U.S.-based Occidental Petroleum Corp.
Website: www.alittihad.ae
EGYPT:
AL AHRAM
UK BG, MALAYSIA PETRONAS INVESTS IN EGYPT PROJECTS AT $2.5B
The joint investments of the two oil and gas firms U.K.-based BG Group and Malaysia's Petronas in projects in Egypt amount to $2.5 billion.
Website: www.ahram.org.eg
OMAN:
AL WATAN
OMAN DUQM ECON ZONE SEEN TO ATTRACT UP TO $15B INVEST OVER 10 YRS
Oman's Duqm Economic Zone is expected to attract investments worth between $10 billion and $15 billion over the next ten years with a refinery and petrochemical industries complex set to be among the first projects implemented there.
Website: www.alwatan.com
KUWAIT:
AL WATAN
KUWAIT INVESTMENT CO'S UNIT PLANS TO LIST ON LOCAL BOURSE
Kuwait's Al Joan International Holding Co., a unit of mainly state-owned Kuwait Investment Co., plans to list on the local bourse after it meets the listing requirements.
Website: www.alwatan.com.kw
By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
25-05-11 0956GMT
