Middle East

UAE Firm Formalizes African Deal

Mulk Holdings forms joint venture with Suzan General Trading in Africa. The UAE2 billion dinar conglomerate Mulk Holdings has recently unveiled its first venture into the African continent through an agreement with Suzan General Trading.


Bahri to fund Vela purchase with sukuk bonds

Bahri's purchase of Aramco's Vela fleet now needs to be paid through sukuk bond issue. Saudi Arabia's National Shipping Co's acquisition of Saudi Aramco's marine subsidiary placed it in debt.

Saudi Electric Chooses Banks for Sukuk

Saudi Electric would float new sukuk bonds through two banks. The Gulf region's largest utility company, Saudi Electricity Co has chosen two banks to schedule meetings with fixed income investors from Europe and North America for possible debt agreements.

Marks and Spencer Takeover Speculation Rife

M&S again reported to be subject of takeover bid, this time from the Qatari Investment Authority. The famed British retailer Marks and Spencer became rife with bid speculation again after a year of weak trading and flat share prices.


Latest News

Bahrain based Investcorp claims recovery from recession. Investcorp of Bahrain is on an expansion quest in the Gulf region, choosing to be closer to home compared to previous thrusts into Asia and Africa for new business and ventures.
Lender engages six banks to facilitate bond sale. Dubai's largest lender, Emirates NBD, has engaged the services of six major banking institutions to arrange a subordinated bond sale for the company.
Investment Dar sells off stake to pay debts. The controlling shareholder for Aston Martin, the British car maker is Investment Dar Co. The company has agreed to sell its stake in the beleaguered Bahraini Islamic Bank for US$92 million as the company restructures its debts.
Bank extends loan to DAFZA Dubai Airport Freezone (DAFZA) was granted a credit line of AED500 million (US$136million) by Abu Dhabi Islamic Bank (ADIB).
Tiger Global buys Cobone. The largest daily deal company in the Middle East, Cobone. com was purchased by Tiger Global Management. The international investment firm gave additional funds to the Middle East Company to expand its long term obligations at home.
Dubal and Sinoway Forges Partnership. It was reported Saturday that Dubal or Dubai Aluminium has purchased a twenty percent share in a joint venture project in China.
Qatar set to sell three year and five year bills and bonds worth QR4 billion. Qatar is set to sell QR4 billion or US$1. 1 billion in three year and five year bills and sukuk bonds.
Damac Properties enters into a branding partnership with Paramount Hotel & Resorts. (Correction: Paramount Hotels & Resorts in the first paragraph) Damac Properties, the renowned Dubai property developer has entered into a partnership with Paramount Hotels & Resorts to develop and operate a US$1 billion or 3.
Zamil purchases remaining stake in Advantec to be full owner. Zamil Industrial Investment Company has recently announced that it has completed the purchase of Advantec Coils Private Ltd.
Islamic bonds to be issued by Emirates Airline. The world's largest airline in terms of international traffic, Emirates Airline would begin holding meetings with investors for the possible sale of Islamic bonds called sukuks.
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