Amran's Feed
May 18, 2011

Abu Dhabi to rein in state firms’ bond binge

ABU DHABI, May 18 (Reuters) – Abu Dhabi plans to curtail
bond sales by state companies and review the investments they
hold to ease through the sale of sovereign bonds and ensure the
firms’ actions benefit the economy.

The plan to centralise fundraising and crack down on
undisciplined issuance in the biggest of the seven United Arab
Emirates has been in the works for at least six months and may
take another year to complete, several people familiar with
official discussions told Reuters.

Apr 7, 2011

Bahrain’s security now may cost it stability later

DUBAI (Reuters) – A brutal crackdown by Bahrain’s Sunni rulers has crushed dissent but also alienated its Shi’ite majority, raising the risk of a simmering civil conflict that could threaten the rest of the oil-producing region.

Shi’ite Muslims, who have long complained of economic and political discrimination, say the aftermath of a crackdown on pro-democracy protests has become darker as arrests, disappearances and the dismissal of hundreds of mainly Shi’ites from their jobs become more common.

Apr 7, 2011

Analysis: Bahrain’s security now may cost it stability later

DUBAI (Reuters) – A brutal crackdown by Bahrain’s Sunni rulers has crushed dissent but also alienated its Shi’ite majority, raising the risk of a simmering civil conflict that could threaten the rest of the oil-producing region.

Shi’ite Muslims, who have long complained of economic and political discrimination, say the aftermath of a crackdown on pro-democracy protests has become darker as arrests, disappearances and the dismissal of hundreds of mainly Shi’ites from their jobs become more common.

Mar 19, 2011

UAE’s Etisalat walks away from $12 billion Zain deal

DUBAI (Reuters) – UAE telecom firm Etisalat ETEL.AD scrapped on Saturday its $12 billion offer to buy a controlling stake in Kuwaiti rival Zain (ZAIN.KW: Quote, Profile, Research, Stock Buzz), citing Zain’s divided board, extended due diligence and regional unrest.

Etisalat said it had ended discussions with a unit of Zain major shareholder Kharafi Group to gather the shares to tender to its offer, the Abu Dhabi-based firm said in a statement.

Mar 19, 2011

UAE’s Etisalat walks away from $12 billion Zain deal

DUBAI (Reuters) – UAE telecom firm Etisalat (ETEL.AD: Quote, Profile, Research) scrapped on Saturday its $12 billion offer to buy a controlling stake in Kuwaiti rival Zain (ZAIN.KW: Quote, Profile, Research), citing Zain’s divided board, extended due diligence and regional unrest.

Etisalat said it had ended discussions with a unit of Zain major shareholder Kharafi Group to gather the shares to tender to its offer, the Abu Dhabi-based firm said in a statement.

Feb 17, 2011

Saudi Arabia, jolted by Egypt, alarmed by Bahrain

DUBAI (Reuters) – Saudi Arabia, shaken by the loss of a key ally in Egyptian President Hosni Mubarak, must now worry that protests in neighbouring ally Bahrain may embolden its own Shi’ite population to push for reform.

Thousands of overwhelmingly Shi’ite protesters, inspired by uprisings in Egypt and Tunisia, took to Bahrain’s streets this week demanding more say in the Gulf Arab kingdom where a Sunni Muslim family rules over a majority Shi’ite population.

Feb 17, 2011

Analysis: Saudi Arabia, jolted by Egypt, now alarmed by Bahrain

DUBAI (Reuters) – Saudi Arabia, shaken by the loss of a key ally in Egyptian President Hosni Mubarak, must now worry that protests in neighboring ally Bahrain may embolden its own Shi’ite population to push for reform.

Thousands of overwhelmingly Shi’ite protesters, inspired by uprisings in Egypt and Tunisia, took to Bahrain’s streets this week demanding more say in the Gulf Arab kingdom where a Sunni Muslim family rules over a majority Shi’ite population.

Feb 15, 2011

Borse Dubai not asked to trim LSE stake – source

DUBAI, Feb 15 (Reuters) – Borse Dubai has not been asked to
trim its 20-percent stake in the London Stock Exchange (LSE.L: Quote, Profile, Research, Stock Buzz)
to facilitate a merger between the LSE and the Toronto share
market operator TMX (X.TO: Quote, Profile, Research, Stock Buzz), a source familiar with the matter
said on Tuesday.

Borse Dubai [BRSDB.UL], which holds a 20.6 percent stake in
the LSE and is owned by the ruler of the Gulf Arab emirate, will
become the single largest shareholder in the new entity with an
11.3 percent stake if the deal is completed.

Dec 16, 2010

DIC to replace CEO; core banks agree to debt plan

DUBAI (Reuters) – Dubai Holding’s DUBAHC.UL private equity arm DIC will replace its chief executive as major lenders agree to the investment company’s plans to restructure $2.6 billion of debt, sources said on Thursday.

Dubai International Capital’s (DIC) Chief Investment Officer David Smoot will replace Anand Krishnan as CEO, two sources familiar with the matter told Reuters.

Dec 14, 2010

DealTalk: Hochtief’s ACS defence not Qatar’s motive

DUBAI/FRANKFURT (Reuters) – For all the talk of Qatar riding to the rescue of ACS (ACS.MC: Quote, Profile, Research, Stock Buzz) bid target Hochtief (HOTG.DE: Quote, Profile, Research, Stock Buzz), the German construction group may find the Gulf state’s end game is not as friendly as it first seemed.

Although Qatar jumped on a 9.1 percent stake in Hochtief at a bargain price, that does not necessarily mean the emirate has sided with its management, a banker close to Qatar said.