TAQA sees $3bn refinancing by end '10 - CFO

Companies and Markets

• Saudi petchems slip as global market wobbles weigh

  28 September 2010,UPDATE 4: Dubai's Emaar Properties falls 0.8% ahead of a board meeting on Wednesday.

• Dubai Islamic up on Tamweel stake

  27 September 2010,Dubai's benchmark index DFM hits a 20-week high in early trade on Monday.

• Saudi Electric at 17-month high; index flat

  26 September 2010,UPDATE 3: Saudi Electricity rises for a second session since winning a $480m gov't contract.

• Bank and telecoms lift Saudi to 3-month high

  21 September 2010,Saudi's main benchmark rises 0.3 percent to 6,435 points, its highest finish since June 21.

• Saudi stocks lead Arab Gulf higher on oil, global growth

  20 September 2010,UPDATE 3: Saudi benchmark stock index rises to the highest in almost three months.

• Saudi dips in sluggish trade

  19 September 2010,Bluechips show little movement as Saudi Arabia's TASI ends lower for a second session in three.

Results

• Dubai Islamic full-year net falls as impairments rise

  11 February 2010,'Decline is primarily due to the conservative and prudent approach adopted by the bank.'

• Emirates NBD Q4 profit up, credit impairments rise

  11 February 2010,UAE bank's total income for 2009 up 28% to AED10.8bn ($3bn) vs $2.3bn for 2008.

• Saudi shares close 1.1% lower

  6 February 2010,Banking index sheds nearly 1%, led by Samba Financial which drops 3.1%.

• Dubai's Mashreq posts $33m Q4 net loss

  5 February 2010,Dubai's largest lender by market value makes AED2.1bn ($572m) impairment allowances in 2009.

• Dubai-listed Aramex Q4 net profit up 28%

  30 January 2010,Logistics firm posts fourth quarter net profit of AED49.5m ($13.48m), beats analysts' forecasts.

• Saudi bourse falls for third day

  30 January 2010, Saudi Arabia's benchmark TASI closes 0.5 percent down at 6,221 points.

IPO

• UAE's first IPO delayed over weak market - source

  19 July 2010,Banking source says Shuaa IPO will not take place before the fourth quarter.

• Saudi Arabia leads Gulf IPO activity in H1 2010

  18 July 2010,Kingdom accounts for seven of the eight IPOs in Gulf during first six months.

• Kuwait confirms interest in China AgriBank IPO

  22 June 2010,Finance minister says Kuwait interested in taking $800m stake in lender.

• Insurance companies set to launch Saudi IPOs

  20 March 2009,Four firms win approval for offerings in April in bid to raise a total of $69m.

• Mideast IPO activity slumps at end of 2008

  4 January 2009,Ernst & Young says just three IPOs in Oct, Nov compared to 10 in same period in 2007.

• Nakheel in talks with bankers over IPO - report

  4 January 2009,UK media report suggests developer could look at dual listing in Dubai and London.

Equity

• No big deal(s)?

  15 October 2009,Private equity firms in the Middle East are low on leverage and high on cash, with around $11bn of unspent capital in their coffers.

• Capital gains

  6 July 2009,Gulf Capital CEO, Dr Karim El Solh on why the crisis is creating opportunities for the private equity industry.

• Egypt's Olympic Group announces share buyback

  15 December 2008,Domestic appliance maker's board approves acquisition of 5% of company's stock.

• Mubadala increases stake in chip maker AMD, joint venture

  9 December 2008,Abu Dhabi fund renegotiates deal following sharp drop in company's share price.

• Travco chairman El-Chiaty eyes increase in TUI stake

  1 December 2008,Egyptian businessman looks to reinvest in German tour operator after share slump.

• Bahrain's Ithmaar Bank to up BBK stake via Shamil swap

  1 December 2008,Share-swap to act as merger between the two banks after shareholder approval.

Funds

• The rise and fall

  10 March 2010,A look at the UAE's best and worst performing stocks.

• Taking stock

  10 January 2010,Even the most practiced soothsayer will struggle to make any predictions for the next decade, says Matthew Lynn.

• Bullion bandwagon

  13 September 2009,The price of gold hit $1,000 for only the fourth time in history early last week. But some experts say its current price is unsustainable.

• Trading confidence

  8 May 2009,The global credit crisis has wreaked havoc with regional stock exchanges. Claire Ferris-Lay talks to Malcolm Wall Morris, CEO of the Dubai Gold & Commodities Exchange about how he is trying to boost investor confidence across the Gulf.

• ME share of global hedge fund to rise by 30%, 2013

  20 April 2009,ME investors will own 7.5% of total global hedge fund assets end-2013 - survey.     

• Hedge funds see $155 billion of withdrawals

  21 January 2009,Investors pulled $155 billion out of hedge funds last year, according to new data.

Sukuk

• Kuwait's IIG defaults on $152.5m sukuk

  26 July 2010,Company confirms second default this year; firm names KPMG as its advisor for restructuring options.

• Dar al-Arkan signs swap deal to lower sukuk costs

  23 June 2010,Saudi real estate firm signs deal to lower costs to cover 50% of $450m bond.

• NBAD sees retail revenues rise by 20% in 2010

  22 June 2010,National Bank of Abu Dhabi sees higher lending driving increase this year.

• Qatar Islamic Bank invests $343.6m in gov't sukuk

  20 June 2010,Investment is governed by an 8-year lease that runs until June 1, 2018 - statement.

• Islamic finance steps up

  21 November 2009,Natsuko Waki looks at why governments in the Middle East and Asia are taking on a greater role to deepen Islamic finance markets.

• Dubai’s debt move

  7 November 2009,Investors anxiously await the fate of Nakheel’s $3.5bn sukuk, & the next installment of Dubai’s $10bn bailout fund.

Bonds

• GFH sees accord to extend $100m loan in July

  5 July 2010,Firm said it expects to finalise agreement before maturity on Aug 10.

• Bahrain's BBK will not launch bond till markets stabilise

  5 July 2010,CEO says markets are too volatile to launch its planned benchmark bond.

• Oman's Bank Sohar swings to profit in Q1

  13 April 2010,Oman's fifth-largest bank by market value swung to a first-quarter net profit of OR2.83m ($7.35m).

• On the defensive

  6 December 2009,Khalaf Al Habtoor, chairman of Dubai's Al Habtoor Group, tells why the Gulf state is too big to fail.

• Qatar Commercial bank to use bonds for growth

  12 November 2009,Qatari bank to apply proceeds from $1.6bn bonds to repay debt, future expansion.

• Oman annual inflation falls to 1.25% in Sept

  10 November 2009,Omani consumer price index stood at 130.1 points in Sept after a brief uptick in Aug.

Regulatory

• Kuwait bourse halts trading in 24 firms

  16 August 2010,Trading is halted after the firms fail to publish their second-quarter earnings on time - bourse statement.

• Qatar seeks to support its financial markets

  29 June 2009,Qatar's central bank governor says new measures could be introduced amid downturn.

• US moves to seize US assets of Iranian bank's 'front'

  17 December 2008,New-York based unit owns 40% in 36-storey tower on Fifth Avenue, says Justice Dept.

• India unveils $4bn economic stimulus package

  7 December 2008,Export incentive schemes, value-added tax cuts follow interest rate reductions. 

• UAE allows ministers to be company directors

  2 December 2008,Constitution change by Federal National Council legalises already existing situation.

• Islamic finance sector needs more sharia scholars

  1 December 2008,Fewer than 100 scholars worldwide qualified to sit on sharia compliance boards, says expert.