Mashreq, Dubai's third-biggest lender by assets, is interested in acquiring Citigroup's Egyptian retail business, Mashreq's chief executive said on Sunday.
United Arab Emirates
HSBC Asset Management buying bonds of commodity exporters, Russia, Brazil
HSBC Global Asset Management, an arm of HSBC Holdings (HSBA.L), is buying bonds of commodity exporting countries because their valuations have dropped so far with the plunge of oil prices, an executive said.
Emirates Airline expects drop in annual fuel costs
Dubai's Emirates Airline [EMIRA.UL] expects lower oil prices to translate into fuel savings in the financial year ending this month but is braced for foreign exchange hits in markets such as Europe, India and Russia, its chief operating officer said.
Dubai Aerospace explores StandardAero sale - sources
Dubai Aerospace Enterprise Ltd, an aircraft leasing and maintenance company controlled by the government of Dubai, is looking to sell its aviation services unit, StandardAero, for more than $1.8 billion, according to people familiar with the matter.
Dubai World's debt restructuring gets 100 pct creditor backing
State-owned Dubai World has received backing from all its creditors for a $14.6 billion restructuring plan, a court heard on Sunday, paving the way for the deal to be formally approved by May.
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United Arab Emirates-based RAK Ceramics RKCE.AD, one of the world's biggest makers of floor and wall tiles, said on Sunday that it would sell its stake in a joint venture with U.S. firm Laticrete for an undisclosed sum.
Ezra Holdings Ltd (EZRA.SI), a Singapore-listed oilfield service company, said on Wednesday it has put on hold a plan to list its subsea services unit in the United States, prompted by unfavourable market conditions.
Citigroup has received 10 bids for its consumer banking business in Egypt, three sources with knowledge of the matter said on Tuesday, with banks from the United Arab Emirates prominent among potential purchasers.
A diplomatic push by Venezuela and Iran for an OPEC oil output cut has failed to soften the refusal of the group's Gulf members to do so for now, delegates said on Monday.
Dubai World has reached agreement with a "substantial majority" of creditors to back its $14.6 billion debt restructuring, the state-owned conglomerate said on Monday, putting the emirate on track to clear the last big hangover from a debt crisis.
Iran's supreme leader Ayatollah Ali Khamenei told Venezuela's president on Saturday he backed coordinated action between Tehran and Caracas to reverse a rapid fall in global oil prices which he described as a "political ploy hatched by common enemies".
Falling world oil prices will hurt countries across the Middle East unless Saudi Arabia, the world's biggest crude exporter, takes action to reverse the slump, Iran's deputy foreign minister told Reuters.
A big oil price slide will hurt Iran's attempts to rescue battered living standards, but economic pain is unlikely to soften its stance in nuclear talks or end aid to allies such as Syria, matters seen by its ruling clerics as strategic priorities.
Arab OPEC producers expect global oil prices to rebound to between $70 and $80 a barrel by the end of next year as a global economic recovery revives demand, OPEC delegates said this week in the first indication of where the group expects oil markets to stabilize in the medium term.
