Hikma Pharmaceuticals is prepared to make many acquisitions with the funds it has set aside. Hikma Pharmaceuticals, based out of London, says it has set aside US$600 million to pay for acquisitions it would be making in the Middle East and Africa.

According to its CEO, Majid al Futtaim is earmarking between US$600 million and US$1 billion for acquisitions this year.

Egypt set to return the taxes collected from the QNB acquisition of NSGB. (Photo : Reuters)The image is the Arabic logo of the Qatar National Bank. In an announcement, the Egyptian government has said it would be refunding taxes it has collected from the acquisition by Qatar National Bank of National Societe Generale Bank.

Arabtec is preparing to do a rights issue worth around US$650 million. Arabtec, the contractor based out of Dubai and partly owned by Aabar Investments of Abu Dhabi, is now preparing for a US$650 million rights issue scheduled on June 9.

Emirates NBD to do bond issue. Amidst healthy demand, the Emirates NBD had launched a bond issue worth US$1 billion to allow the Dubai lending institution a focused price guidance.

Air Arabia finalizes a deal for loans from two GCC banks to help pay for the ordered A320 Airbus fleet.

Dar Al Arkan lowers yield of new sukuk bond issue to 6%. Dar Al Arkan, the Saudi Arabian real estate developer, after its previous announcements has now tightened the price range of its planned sukuk issue.

Nebras Power would invest overseas. Qatar has created a US$1 billion investment firm to expand its businesses in Barclays Plc to power and water assets in foreign countries.

Dar Al Arkan prepares for benchmark sized sukuk issue. Dar Al Arkan Real Estate Development Company of Saudi Arabia is in the midst of preparations to sell a benchmark sized Islamic bond or sukuk.

Saudi Arabian shares increase led by property and petrochemical companies. The majority of the increases in the benchmark stock index of Saudi Arabia was attained in the last four months.