Thursday 30 June 2016

Oman sells $500m six-year sukuk

Oman's government has sold a $500 million six-year sukuk in a private placement, a document from the lead manager showed on Wednesday. The sukuk's profit rate is 3.5 per cent and the Ijara-structured instrument will be repaid in three equal instalments after four, five an


Investcorp eyeing opportunities presented by Saudi reform plan

Investcorp is seeking more opportunities in Saudi Arabia, aiming to capitalise on the kingdom's plans for a significant reform of its economy, the co-chief executive of the alternative investment specialist said on Wednesday. Under Saudi Arabia's Vision 2030 initiative th


Mideast bourses announce Eid al-Fitr closures

Middle Eastern securities exchanges have announced plans to close for upcoming Eid al-Fitr holidays. The Saudi Stock Exchange will be closed throughout next week and reopen on Sunday, July 10. The Dubai, Kuwait and Oman markets will close from Tuesday, July 5 and r


MasterCard to include 40m micro, small merchants

MasterCard set a goal to connect 40 million micro and small merchants to its electronic payments network within five years, expanding on the company’s Universal Financial Access 2020 commitment made last year. To date, financial inclusion has been predominantly centred on p


Investcorp lists portfolio fund on Saudi bourse

Bahrain-based Investcorp, a global provider and manager of alternative investment products, has announced the successful listing of its Gulf Opportunity Fund I portfolio company, L'azurde Company for Jewellery on the Saudi Stock Exchange. L'azurde is the first majority pr


ACC wins Mashreq HQ building contract

Mashreq, one of the UAE’s leading banks, said it has signed up Arabian Construction Company (ACC) to build its new corporate headquarters in Downtown Dubai. The work is due to start later this year. The bank, which has been headquartered out of Deira since it began operatio


Afkar fund listed on Dubai Financial Market

Afkar Capital’s Exchange Traded Fund (ETF), under the trading symbol “UAETF", has been listed on Dubai Financial Market (DFM), which operates as a secondary market for the trading of securities. The fund is designed to replicate the S&P UAE BMI Liquid 20/35 C


Dubai ICD's profits slip on lower oil, gas revenues

Investment Corporation of Dubai (ICD), which holds stakes in some of the emirate's top companies, posted a 3.7 per cent drop in profit last year as revenue from oil and gas products and services fell. Profit attributable to equity holders of the company slipped to Dh22.9 bill


EuroMena Fund invests $20mn in Credit Libanais

The EuroMena Fund, a private equity fund run by the Capital Trust Group, recently invested $20 million in the capital of Credit Libanais, one of the leading Lebanese alpha banks. The fund took part of a sale arranged by Credit Libanais Investment Bank (Clib) of 9.41 million shares held


Aligning board talent with strategy ‘key challenge’

Three-quarters of directors say the alignment of board talent with the company’s long-term strategy is a critical challenge for their board, according to a new report released by professional services group KPMG. Three in five cite a need for greater diversity of background

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