Monday 25 May 2015

ICBC Dubai bond's orders near $2.5bn

Industrial and Commercial Bank of China, the country's largest bank by assets, is due to price on Monday a benchmark-sized, five-year debut bond issued by its Dubai branch, a document from lead managers said. The deal, rated A1 by Moody's, has garnered orders totalling cl


Sedco sees more global presence by 2025

Sedco Holding Group, a leading Shariah-compliant organisation based in Saudi Arabia, has unveiled its growth strategy for 2025 through expansion of its investment ventures across the globe. The company is responsible for a diverse spectrum of operating companies in industries suc


C40 launches city credit rating to fund projects

The C40 Cities Climate Leadership Group (C40) and the Children's Investment Fund Foundation (CIFF) launched a new Creditworthiness Network to help selected cities achieve a credit rating in order to finance climate-related projects. The programme will kick-off with a Creditwo


Bank Nizwa drops United Finance merger plan

Oman's Bank Nizwa has withdrawn its proposal for a merger with United Finance , Nizwa said on Monday, after United received rival offers and invited all suitors to enter a formal bidding process. In February, Nizwa approached United Finance with a merger proposal, but other p


Modern Exchange launches third Bahrain outlet

Modern Exchange Company (MEC) Bahrain has opened its third outlet in the kingdom at Gudaibiya Avenue, close to Dasman Centre. The outlet was formally inaugurated and dedicated to customers by company director Abdulla Esam Fakhro, said a report in the Gulf Daily News (GDN),


Gulf mixed, Egypt falls further on MSCI index fears

Gulf stock markets were mixed on Sunday after oil prices diverged while it remained unclear whether the truce in Yemen would be extended. Egypt's market extended losses on speculation that it might eventually lose emerging market status. Brent crude edged up on Friday but U.S


ICBC Dubai plans $500m bond issue

Industrial and Commercial Bank of China, the country's largest bank by assets, plans to issue a US dollar-denominated benchmark bond through its branch in the Dubai International Financial Centre, sources aware of the matter said on Sunday. It would be the first bond issue by

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