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PART OF $2bn PACKAGE
SEC signs $366m loan for Jeddah power plant
Saudi Electricity Co (SEC) has signed a $366 million loan agreement with the Japan Bank for International Cooperation (JBIC) and two Japanese banks to help finance the construction of a 2,650 megawatt (MW) power plant in Jeddah.
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BARCLAYS TO ADVISE ON DEAL
Al Jazeera weighs bid for $1bn Turkish pay-TV
Television broadcaster Al Jazeera is considering a bid for a majority stake in Turkish digital pay-TV operator Digiturk, three banking sources aware of the plans said, in a move by the Qatar-backed broadcaster to further expand its footprint.
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CAPITAL BOOST
Saudi SABB prices $400m sukuk issue
Saudi British Bank (SABB), an affiliate of HSBC Holdings, has completed a SR1.5 billion ($400 million) capital-boosting sukuk issue, it said on Wednesday.
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ANALYSIS
Saudi expulsions leave broken dreams in Africa, Asia
More than a million people from across the world - managers, maids, accountants and laborers - have left Saudi Arabia since March, after years or even decades working in the Gulf state, which sustains its own citizens with oil revenues.
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SPECIAL REPORT
Libya coastguard ill-equipped for big mission
More than two years after the fall of Gaddafi, the country's coastguard is just not up to the task. It does not have radar or a single helicopter, or even adequate gear for the officers who go out to sea in small inflatables.
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IMAGE OF THE DAY
Qatar National Day
Qatari Heritage policemen ride camels during National Day celebrations in Doha on December 18.
Top Trade News
 | Industry Sectors |
Technip wins $400m Kuwait PMC contract
Technip said it has won a $400 million project management consultancy services contract from Kuwait Oil Company for the construction of its new oil and gas infrastructure facilities, as well as upgrading of existing facilities.
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Dubai retailer MAF plans $5bn investment by 2018
Dubai retail group Majid Al Futtaim (MAF), the sole franchisee of Carrefour hypermarkets in the region, aims to invest $1 billion a year for the next five years in the Middle East to double the size of its business.
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Kurdish oil exports 'only with Iraq approval'
Iraq is keen to see oil shipped via pipeline from the northern Kurdish region but any exports must be approved by Baghdad, Deputy Prime Minister for energy Hussain al-Shahristani said, after flows on the pipeline started last week.
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Emaar approves bonds-to-shares conversion
Holders of Dubai-based developer Emaar Properties' convertible bonds will receive 18.7 million new shares in the company after its board approved conversion of the instruments, the company said on Wednesday.
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Saudi expulsions leave broken dreams in Africa, Asia
More than a million people from across the world - managers, maids, accountants and laborers - have left Saudi Arabia since March, after years or even decades working in the Gulf state, which sustains its own citizens with oil revenues.
More…
Sabic to distribute $2.4bn dividends in H2
Saudi Basic Industries Corporation (Sabic), the world's biggest petrochemicals group by market value, said on Wednesday it would distribute dividends worth SR9 billion ($2.4 billion) for the second half of 2013.
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Dubai Istithmar sells stake in landmark Miami hotel
Dubai World unit Istithmar World has sold its 50 per cent stake in Miami Beach's landmark Fontainebleau hotel to south Florida developer Turnberry, a source close to the seller said on Tuesday.
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Etisalat completes first phase of key IT project
UAE's leading telecom services operator Etisalat has announced the completion of the first phase of a major business transformation project being implemented by Ericsson aimed at enhancing customer care and billing procedures.
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Nine officials held in Oman graft trials
Nine state officials and private sector executives have gone on trial in Oman on charges of taking or offering bribes, in a widening crackdown on corruption in the sultanate's oil industry and related sectors.
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Infiniti launches new models in Lebanon
Luxury automotive brand Infiniti has launched its new QX60 and QX70 luxury crossover segment models in the Lebanese market.
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Deadly human MERS virus also infects camels
Scientists have proved for the first time that the Middle East respiratory syndrome (MERS) virus that has killed 71 people can also infect camels, strengthening suspicions the animals may be a source of the human outbreak.
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Al Jazeera weighs bid for $1bn Turkish pay-TV
Television broadcaster Al Jazeera is considering a bid for a majority stake in Turkish digital pay-TV operator Digiturk, three banking sources aware of the plans said, in a move by the Qatar-backed broadcaster to further expand its footprint.
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Deloitte launches university for Europe, MEA
Deloitte has launched a new university for Europe, the Middle East and Africa to help staff - and ultimately clients - navigate market changes and stay on the leading edge of learning and innovation.
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2013 deadliest for desperate migrants, says report
More than 7,000 migrants may have perished at sea or while crossing deserts trying to reach a safe haven this year, believed to be the deadliest on record, the International Organisation for Migration (IOM) said.
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