In a bid to maximize benefit from high consumer demand, SABIC issues a five year dollar denominated bond projected to be worth USD1 billion.
Middle East
Oman's Bank Dhofar to merge with Bank Sohar despite CEO resignation
CEO resignation would not deter the merger of the two Omani banks. In an announcement, Bank Dhofar's CEO Anthony Mahoney had resigned from the bank.
Ooredoo partners with Myanmar women's organization for entrepreneurship program
Ooredoo, the Qatari telecommunications company, had entered into a partnership with the Cherie Blair Foundation for Women to provide assistance to businesswomen.
MAF's Carrefour hypermarkets to be pulled from Egypt and Syria
Majid Al Futtaim Holding, the Gulf region's exclusive franchisee for Carrefour, is pulling out of Egypt and Syria.
Oman set to enter into an agreement for world class cargo operations
Oman is now opening itself to world class cargo operations. The Omani Government had laid out plans to make significant investments in new cargo facilities in various airports in the country.
Latest News
The executive council had earmarked funds for construction of hospitals and roads in Abu Dhabi. The executive council of Abu Dhabi last Wednesday approved funds worth AED15.
Sofitel would be opening hotels in Qatar and Saudi Arabia. Sofitel, the luxury hotel brand, is owned by French company Accor, was said to be in active discussion to sign new hotels located in Qatar and Saudi Arabia.
Social feeds in the Middle East announced that Samsung's Galaxy S4 would also be available in gold finish.
Stanford Asia Holding, a subsidiary of Stanford Marine Group, received a USD 300 million loan facility.
Saudi Arabia's taxi business is in chaos with the conflicting regulations, leading to the pull out of investors.
The new joint venture to participate in projects in the Middle East and Africa comprised of Arabtec and Samsung Engineering Co.
Private equity firm Investcorp had purchased paper products company Paper Source for an unspecified amount.
Saad Al Muhannadi and Rachid Al Naimi were appointed as President of the Qatar Foundation and CEO of Qatar Foundation Investments respectively.
MediSafe closes funding from known investors. MediSafe one of the best mobile medication management solution providers, recently announced it had raised USD1 million in funding.
