Amran's Feed
Sep 12, 2013

Saudi oil min says ready to meet crude demand

SEOUL, Sept 12 (Reuters) – The global oil market is well
balanced and top exporter Saudi Arabia ready to supply whatever
volume of crude is needed to meet demand, Saudi Oil Minister Ali
al-Naimi said on Thursday.

Saudi Arabia produced record high volumes of crude in August
as it boosted output for the second time in two years to cushion
the global oil market from supply disruptions. Naimi’s comments
come after producer group OPEC this week sought to reassure
consumers there is sufficient supply to cover a plunge in
Libya’s output.

Mar 10, 2013

Dubai lender ENBD eyes bond sale to repay government funds: sources

DUBAI (Reuters) – Emirates NBD ENBD.DU (ENBD), Dubai’s largest lender, has hired six banks to help arrange a benchmark-sized subordinated bond sale, four sources familiar with the plan said, as it seeks to reduce government support for its capital ratios.

ENBD has hired HSBC Holdings (HSBA.L: Quote, Profile, Research, Stock Buzz), National Bank of Abu Dhabi NBAD.AD, Citigroup Inc (C.N: Quote, Profile, Research, Stock Buzz), J.P. Morgan Chase (JPM.N: Quote, Profile, Research, Stock Buzz), Societe Generale (SOGN.PA: Quote, Profile, Research, Stock Buzz) and itself for the planned sale, two of the sources said, speaking on condition of anonymity as the matter is not public.

Mar 10, 2013

Dubai lender ENBD eyes bond sale to repay govt funds – sources

DUBAI, March 10 (Reuters) – Emirates NBD (ENBD),
Dubai’s largest lender, has hired six banks to help arrange a
benchmark-sized subordinated bond sale, four sources familiar
with the plan said, as it seeks to reduce government support for
its capital ratios.

ENBD has hired HSBC Holdings, National Bank of Abu
Dhabi, Citigroup Inc, J.P. Morgan Chase,
Societe Generale and itself for the planned sale, two
of the sources said, speaking on condition of anonymity as the
matter is not public.

Nov 21, 2012

Gulf investors shrug off Iran risk

DUBAI (Reuters) – Gulf investors are far less nervous about the possibility of a U.S. or Israeli strike against Iran after the re-election of U.S. President Barack Obama, paving the way for further stock market gains in the world’s top oil producing region.

A year ago, investors – already grappling with the Arab Spring unrest that toppled regimes in North Africa – viewed the threat of a strike on Iran’s nuclear facilities and Tehran’s possible retaliation against U.S. interests in the Gulf as the number one risk in the region.

Oct 30, 2012

Exclusive: UAE’s Dana Gas won’t repay bond – sources

DUBAI (Reuters) – Dana Gas DANA.AD is set to become the first United Arab Emirates (UAE) company to fail to pay an Islamic bond on maturity, three sources familiar with the matter said on Tuesday, sending its stock and bond prices sharply lower.

The UAE’s largest listed natural gas firm, hit by payment delays from Egypt and Iraq’s Kurdistan region, will not repay a $920 million convertible Islamic bond, or sukuk, when it matures on Wednesday, the sources said.

Oct 30, 2012

UAE’s Dana Gas won’t repay bond-sources

DUBAI, Oct 30 (Reuters) – Dana Gas is set to
become the first United Arab Emirates (UAE) company to fail to
pay an Islamic bond on maturity, three sources familiar with the
matter said on Tuesday, sending its stock and bond prices
sharply lower.

The UAE’s largest listed natural gas firm, hit by payment
delays from Egypt and Iraq’s Kurdistan region, will not repay a
$920 million convertible Islamic bond, or sukuk, when it matures
on Wednesday, the sources said.

Oct 30, 2012

Exclusive: UAE’s Dana Gas won’t pay bond on maturity – sources

DUBAI (Reuters) – Dana Gas DANA.AD is set to become the first United Arab Emirates (UAE) company to fail payment of an Islamic bond on maturity, three sources familiar with the matter told Reuters on Tuesday.

The UAE’s largest listed natural gas firm, hit by payment delays from Egypt and Iraq’s Kurdistan region, will not repay a $920 million convertible Islamic bond, or sukuk, when it matures on Wednesday, the sources said.

Oct 30, 2012

UAE’s Dana Gas won’t pay bond on maturity-sources

DUBAI, Oct 30 (Reuters) – Dana Gas is set to
become the first United Arab Emirates (UAE) company to fail
payment of an Islamic bond on maturity, three sources familiar
with the matter told Reuters on Tuesday.

The UAE’s largest listed natural gas firm, hit by payment
delays from Egypt and Iraq’s Kurdistan region, will not repay a
$920 million convertible Islamic bond, or sukuk, when it matures
on Wednesday, the sources said.

Sep 17, 2012

Exclusive: Batelco eyes CWC assets in $1 billion telco deal – sources

DUBAI (Reuters) – Bahrain Telecommunications Co BTEL.BH is in talks with Cable & Wireless Communications (CWC.L: Quote, Profile, Research, Stock Buzz) to buy its assets in Monaco and a host of island nations, a deal potentially worth around $1 billion, three banking and industry sources said.

Batelco, whose move to buy a stake in Zain Saudi 7030.SE collapsed last year, is circling the Monaco & Islands portfolio of CWC, the British telecoms group operating in the Caribbean and formed through a demerger of Cable & Wireless in 2010.

Mar 29, 2012

HSBC buys key Lloyds banking units in UAE

DUBAI (Reuters) – HSBC (HSBA.L: Quote, Profile, Research, Stock Buzz), Europe’s largest bank, is buying the onshore retail, corporate and commercial banking business of Lloyds Banking Group (LLOY.L: Quote, Profile, Research, Stock Buzz) in the United Arab Emirates, to strengthen its Middle East presence.

HSBC is buying gross assets valued at $769 million at the end of 2011 and is expected to complete the deal in the second half of this year.