Thursday 5 May 2016

S&P Global forum to discuss Saudi markets

S&P Global (formerly McGraw Hill Financial) will host its sixth annual Financial Leaders’ Forum in Riyadh, Saudi Arabia, next week. The gathering, being held in Saudi Arabia for the first time, will explore the critical factors affecting business currently in Saudi Arab


Citigate launches Sierra Leone diamond project

Citigate Commodities Trading Limited, a Dubai-based company, has announced the acquisition and launch of a 79.9-sq-km diamond mine in Sierra Leone. The announcement was made at a gala event, at the Ritz Carlton DIFC, and was hosted by Citigate International CEO Tohib Iyiola. The


Kuwait releases $250m aid to Morocco

Kuwait has released $250 million in financial aid to Morocco, the remaining sum of assistance to the North African country, a report said. The $250 million released by Kuwait for the kingdom is one-fifth of the MD 1.5 billion promised to Morocco and Jordan by the GCC, according t


BBK’s capital securities list on Bahrain Bourse

Bahrain Bourse (BHB) yesterday (May 3) signed two agreements with BBK, the first is to list the bank’s perpetual tier 1 convertible capital securities (bonds) and the second to assign BHB as a registrar for the bondholders of the securities, reported the Gulf Daily News, our sist


Mumtalakat showcases investment strategy

The investment strategy of Mumtalakat, Bahrain’s investment arm, was showcased by the company’s chief executive Mahmood Al Kooheji during a keynote interview at the Euromoney Saudi Arabia Conference, held yesterday (May 3) at Al Faisaliah Hotel in Riyadh, reported the Gulf Daily


Saudi's Tadawul to select IPO advisers soon

The banks to advise the Saudi Stock Exchange on its initial public offering (IPO) will be selected in the coming days, the bourse's CEO said on Tuesday, suggesting that it could opt for both local and international banks to provide broader expertise. Reuters reported in March


Saudi working on SME bourse rules for 2017 launch

 Saudi Arabia is working to finalise the rules for a new stock market dedicated to small and medium-sized businesses that it expects to launch early in 2017, the chief executive of Tadawul, the kingdom's bourse, said on Tuesday. Tadawul announced last month that it plann


Trading of Dubai Parks and Resorts rights issue set to start

The rights issue of Dubai Parks and Resorts is due to be tradable on the Dubai Financial Market (DFM) exchange between May 4 and May 18, the DFM announced today. The rights issue will be solely tradable with a distinct trading symbol (DUBAIPARKSRI), not the symbol of the main stock of


UAE Exchange wins Dubai Quality Gold Award

UAE Exchange, a leading global remittance, foreign exchange and payment solutions brand, has won the coveted Dubai Quality Gold Award (DQGA). The Dubai Department of Economic Development (DED) announced the winners of the Business Excellence Awards 2015 during a glittering ceremo


Saudi plans major stock market reforms

Saudi Arabia announced a string of reforms to its stock market that could attract billions of dollars of fresh foreign money and smooth sales of state assets as the kingdom grapples with damage to its finances caused by low oil prices. When Riyadh opened its bourse to direct fore

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