Saudi Telecom, whose goal is to repay a USD1.2 billion debt, is planning to sell off its subsidiary to raise the funds.
Middle East
AT&T provides IP VPN services to Africa and the Middle East
AT&T, with its hub in Dubai, has offered IP virtual private network services to multinationals doing business in the Gulf region and in Africa.
KKR and Abraaj jockeying for 60% of Kudu
Kudu, the Saudi Arabian fast food chain, had opened bidding for 60% of its shares with KKR and Abraaj as the firms front running for the bids.
Egypt's Citadel Capital plans capital hike
Egyptian private equity firm Citadel Capital said on Sunday it would increase its capital following the clearance it had won from the company's shareholders.
Dubai and other Gulf indices climb after US-Russia deal on Syria stockpile was finalized
The stock markets of the Middle East breathed a sigh of relief as the US-Russia agreement on Syria's chemical weapons averted a military strike.
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Renowned Middle Eastern scientist Hayat Sindi called for more investments in the field of science and technology to foster inventive spirit and innovation.
According to CSCEC CEO Yu Tao, the company's experience in building and maintaining housing projects would be key to address the needs of the GCC countries.
The aid by Kuwait to Egypt would consist of USD2 billion in a central bank deposit, USD1 billion grant and USD1 billion in oil products.
The sale of three Edition-branded properties are nearing completion according to Marriott CEO Arne Sorenson.
Virgin Atlantic's partnership with Delta Air is sought to be replicated in the Gulf region. Virgin Atlantic's Richard Branson is contemplating the option of forging an east-focused alliance with a major carrier from the Gulf region.
The USD2 billion deposit by the Qatari government in support of former Egyptian President Mursi's government was converted to bonds by the current administration in Egypt.
Dubai's and Abu Dhabi's indices jump in value as Russian intervention on Syrian impasse promise to avert US airstrikes.
Sources told Bloomberg that the joint venture firm of Saudi Aramco and Total, Satorp, would be putting its first fuel up for sale this month.
Islamic lenders Al Salam Bank and BMI Bank agreed on a share swap merger deal. According from a statement released on Monday by Islamic lender Al Salam Bank, it had agreed on merging with fellow Bahrain-based lender BMI.
