Saturday 30 May 2015

Oman keeps investing in diversification

Oman's government has responded to low oil prices by cutting spending on defence and subsidies while continuing to invest in diversifying the economy, official figures showed on Tuesday. The plunge of crude prices since last year has slashed the government's net oil reven


Egypt picks arrangers for dollar bond

Egypt as picked five banks to arrange fixed income investor meetings from Thursday ahead of a potential dollar-denominated bond issue, a document from lead arrangers showed on Tuesday. The sovereign, rated B3/B-/B by Moody's/Standard and Poor's/ Fitch, has mandated BNP Pa


H+K, Buchanan launch financial consultancy

Hill+Knowlton Strategies (H+K), a leading communications consultancy, and UK-based Buchanan, a major financial communications consultancy have joined forces to launch a specialist financial communications division dedicated to Middle East and Africa (MEA). H+K Financial combines


Trussbridge launches new office in UAE

Trussbridge Group, an independent financial advisory firm, has launched its new office in the UAE, primarily targeting the underserved mid-market sector in the Middle East. The new office will offer independent and dedicated investment banking advice and execution to regional cor


Oman swings to $1.4bn Q1 budget deficit

Oman posted a budget deficit of OR544.6 million ($1.41 billion) in the first three months of this year, swinging from a OR215.4 million surplus a year earlier, provisional finance ministry data showed on Tuesday.      Oman's 2015 budget plan envisages gov


Key Islamic finance training launched in Bahrain

The General Council for Islamic Banks and Financial Institutions (CIBAFI), the global umbrella of Islamic financial institutions, has launched its first executive programme on strategy and leadership for Islamic financial institutions. It is offered in partnership with the Ivey B


Samsung's Cheil to acquire affiliate Samsung C&T

Samsung Group's holding company Cheil Industries Inc said on Tuesday that it will acquire affiliate Samsung C&T Corp by September, the latest step in the restructuring of South Korea's biggest conglomerate. The move combines what analysts consider as two key companies


Bahrain government plans more subsidy cuts

Electricity and water subsidies will be the next to be axed as part of the Bahrain government's cost-cutting measures, it has emerged. The Cabinet last week announced it was scrapping meat subsidies altogether from August 1, as well as increasing fees for government services


UAE bank lending growth picks up to 8.4pc

Bank lending in the United Arab Emirates (UAE) rose 8.4 per cent from a year earlier in April, speeding up from 8.2 per cent growth in March, central bank data showed on Tuesday. Money supply (M3) growth, however, fell to 6.4 per cent in April, the slowest rate since September 20


Dubai bourse to add trading-at-last session

Dubai Financial Market, the emirate's main stock exchange, will add a five-minute "trading-at-last session" to its daily routine as it adjusts the pre-closing session next month, it said on Monday. The pre-closing session, which now runs for 10 minutes starting at 1

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