Wednesday 28 September 2016

Kuwait urged to set up secondary debt market

Kuwait's government cannot issue a sovereign bond without the creation of a secondary debt market first, Ali Mousa Al Mousa, the chairman of Commercial Bank of Kuwait, said on Tuesday. Kuwait plans to issue up to KD3 billion ($10 billion) in US dollar-denominated bonds and su


Bahrain hires banks for dual-tranche dollar bond

The Kingdom of Bahrain is planning a dual-tranche, benchmark sized US dollar denominated bond issue, according to a lead. The sovereign has mandated Bank ABC, BNP Paribas, Credit Suisse, JP Morgan, Standard Chartered Bank to arrange a series of investor meetings across the Middle


New BCCI centre to help foreign investors

The Bahrain Chamber of Commerce and Industry (BCCI) has opened a new centre to help foreign investors, including those with existing businesses in Bahrain, to reinvest their profits in the economy, reported the Gulf Daily News, our sister publication. To read further, pl


Saudi Arabia cuts public sector bonuses

Saudi Arabia's government has decided to curb to some financial perks for public sector employees, according to a live broadcast of the cabinet's weekly meeting. "The cabinet has decided to stop and cancel some bonuses and financial benefits," read a line of tex


Abraaj Group acquires stake in Mexican fashion footwear firm

The Abraaj Group, a leading investor operating in global growth markets, today announced the acquisition, through its Funds, of a significant minority stake in Capa de Ozono (CDO), a leading fashion footwear designer, distributor and retailer in Mexico. Capa de Ozono was establis


Egypt eyes $10bn in foreign investment

Egypt hopes to attract $10 billion in foreign direct investment (FDI) next year and will automate the process of establishing a company, its investment chief said, highlighting efforts to revive the economy and earn much-needed hard currency. The most populous Arab country has be


MEPS launches wireless system for POS devices

Middle East Payment Services (MEPS), a leading payment services provider, has launched the Apex Electronic Cash Register (Apex-ECR) wireless integration system for its POS devices at various stores and retailers across Jordan.  This step was taken in line with its ongoing ef


Algeria plans bank privatisations

Algeria plans to allow its dominant state banks to list on the local stock exchange to help develop its financial markets and diversify sources of funding after the oil price slide, a senior financial official said. The plan will open the door for foreign investors to acquire con


Payment solutions account for 40pc of fintech in GCC

Payment solutions account for approximately 40 per cent of all financial technology (fintech) business in the GCC, said a new report by The Boston Consulting Group (BCG), a global management consulting firm. fintech companies in the GCC now account for 7 per cent of all fintech b


Dubai to host top payments industry event

Dubai has been chosen as the venue for the leading payments event PayExpo Mena, which will be take place from December 5 to 7. PayExpo Mena ( will gather over 1,000 industry leaders from the entire payments chain from all over the world to meet, network, do busines

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