Abu Dhabi's Aabar Investments is preparing a bond that can be exchanged for shares in Italian bank UniCredit SpA, a source familiar with the matter said on Monday.
A spokesman for Aabar, which has a stake of just over 5 per ce
Investors enjoying near-record levels for major stock indexes will scrutinise housing data and other economic indicators in the coming week for hints about the timing of US interest rate hikes to see if the rally will continue.
Brent crude oil fell to around $54 a barrel on Monday, its lowest for more than a month, on rising global inventories and signs of a possible nuclear deal with Tehran that could allow more Iranian oil exports.
Western powers are h
Brent crude rose towards $57 a barrel on Wednesday, paring some of the previous session's sharp losses, after data showed US crude stocks fell for the first time in two months.
The benchmark closed nearly 4 per cent down in th
Gulf stock markets rose in early trade on Sunday after oil made further gains and local companies reported upbeat results.
Brent crude jumped 2.2 per cent to $57.80 per barrel on Friday, posting its largest two-week gain in 17 yea
The new head of Saudi Arabia's securities regulator said the kingdom remained on track to open its $510 billion stock market to direct foreign investment in the first half of this year.
Mohammed Al-Jadaan, founding partner at
When Saudi Arabia announced last July that it would open its stock market to direct foreign investment, a common worry among fund managers was that when the reform finally took place, the market would simply be too expensive to buy.
Most Gulf stock markets maintained their positive momentum on Sunday, supported by good corporate news, but major petrochemical producer Industries Qatar tumbled and dragged down the Doha bourse after announcing a dividend cut.
Gulf stock markets rose on Thursday after oil rebounded slightly from its Wednesday low and several companies made positive announcements.
Supported by a fall in US crude oil inventories, Brent futures bounced around $51 per barre
Several companies in the United Arab Emirates have decided to hold off on initial public offers of shares because of the weakness of stock markets, the head of the securities regulator said on Wednesday.
"There are some IPOs