Egyptian cellphone operator Mobinil would prefer to list more shares on Cairo's stock exchange to meet new ownership rules than sell a bigger stake to a local company, its CEO said on Monday.
France Telecom owns 94 per cent of
Kuwait's financial watchdog is giving investment funds until the end of June to comply with new rules on the ownership of individual financial securities.
The country is home to a large number of investment firms which have been hard hit b
Long-awaited legislation that is meant to liberalise the economy of the United Arab Emirates may bring only modest changes, because of strong opposition from some Emiratis who fear they could lose out to foreigners, say analysts.
Foreign ownership limits in Qatar, a key issue in the Gulf state's potential upgrade by index compiler MSCI, are likely to remain at 25 per cent through June, the bourse's chief executive officer said yesterday.
"I wouldn't expect news on
Saudi Arabia's plans to open up its stock market will limit direct foreign ownership to investors with at least $5 billion under management and allow each to hold a maximum 5 per cent of a stock's issued share capital, sources said.
Qatar is in talks with individual firms to raise foreign ownership limits yet is not planning a blanket increase despite a requirement by index complier MSCI, a Doha bourse official told Reuters.
MSCI has extended a review on whether to up
First Gulf Bank, the UAE's second largest lender by market value, said it is raising its foreign share ownership limit to 25 percent from 15 percent, as it seeks to attract more investors.
The bank's board approved a proposal to raise the
The proposal to grant hundred per cent ownership of businesses in the UAE to foreigners has received a major boost with the officials in charge of economic development in Abu Dhabi backing the move, said a report.
Abu Dhabi’s Department of
United Gulf Bank (UGB) has transferred its ownership in Jordan Kuwait Bank (JKB) to Burgan Bank after receiving the relevant regulatory approvals.
UGB and Burgan Bank are part of the Kipco Group and the transfer of JKB shares to Burgan is