(Reuters) – Qatar’s central bank has sent a draft circular on new Basel III capital rules to conventional and Islamic banks that includes requirements for issuance of instruments such as hybrid bonds, it said on Thursday. “This is a consultative circular. The final version is slated to be completed once a QIS (quantitative impact study) is undertaken for national banks,” the central bank said in a written […]
(Reuters) – The Dubai-based investment firm that bought English soccer club Leeds United in December after lengthy negotiations sold more than half of its 100 percent holding less than six months later, financial statements show. GFH Capital, a subsidiary of Bahraini Gulf Finance House, offloaded a 10 percent stake to Bahrain-based International Investment Bank earlier this year and its second quarter financial statement showed it had now […]
By Dinesh Nair (Reuters) – A unit of Libya’s sovereign wealth fund is in talks to buy a 35-percent stake in state-owned Tunisie Telecom from a conglomerate owned by Dubai’s ruler, three sources aware of the matter said. Dubai Holding’s arm, Emirates International Telecommunications LLC (EIT), is trying to reduce debt and is set to take a huge hit on the stake it bought for $2.25 billion […]
(Reuters) – Saudi Telecom’s (STC) Indonesian unit has picked Moelis & Co to advise it on negotiations with lenders as the operator steps up efforts to restructure a $1.2 billion Islamic loan, two sources familiar with the matter said. STC backed the loan for Axis Telekom, its Indonesian arm, in 2011. But Axis’s poor performance has put the company in breach of some of the terms, four […]
Abraaj Group announced the acquisition of a “significant” stake in two student accommodation assets in the Turkish city of Istanbul. The value of the stake was not disclosed. Abraaj will invest in Republika Academic Apartments along with Turkish institutional investor BLG Capital, which is also the developer of Republika. The transaction gives Abraaj “substantial ownership” of two properties located in Istanbul’s student areas of Ortakoy and Buyucekmece. […]
By Cristiane Lucchesi – Aug 14, 2013 (Bloomberg) Mubadala Development Co., the Abu Dhabi sovereign-wealth fund, is in talks to buy some of the assets of former Brazilian billionaire Eike Batista for about $1 billion, two people with direct knowledge of the matter said. The negotiations are for stakes in oil producer OGX Petroleo (OGXP3) & Gas Participacoes SA, MMX Mineracao & Metalicos SA and LLX Logistica […]
Bloomberg By George Smith Alexander & Anto Antony – Aug 13 India’s economy is growing at the slowest pace in a decade, companies are burdened by record debt and governance is so bad that even local cement billionaire Kumar Mangalam Birla is reluctant to invest in the country. Yet some foreign entities, from Diageo Plc to Qatar’s government, are undaunted, finding buying opportunities as Indian firms look […]
Two Gulf Arab borrowers have attracted heavy investor demand for international bond sales in the past two weeks, but higher yield premiums are prompting many other potential issuers in the region to seek alternative funding sources. In the case of Saudi Arabia, companies that might have issued bonds in the international market may now choose to issue in the country’s liquid riyal-denominated bond market. In May, a […]
BEIJING/MOSCOW (Reuters) – China’s biggest energy firm PetroChina will join Exxon Mobil in developing Iraq’s giant West Qurna oilfield and is in talks with Lukoil to buy into a second project at the field, industry sources said on Friday. China is already the top foreign player in Iraq’s southern oilfields and a deal at West Qurna would boost its dominance and could make PetroChina the biggest single […]
SYDNEY (Reuters) – Etihad Airways, which has aggressively expanded its global reach through codeshares and minority stake investments, expects to build alliances in China and the Americas as the Abu Dhabi-based carrier targets more double-digit growth in the years ahead. “We will continue to work with other airlines to broaden our network,” said Etihad CEO James Hogan on the sidelines of the Australia Pacific Aviation Summit in […]
Visa Inc. (V), MasterCard Inc. and some of the biggest U.S. banks agreed to a settlement of at least $6.05 billion in a price-fixing case brought by retailers over credit-card swipe fees. The total value of the settlement is $7.25 billion to a class of about 7 million merchants in the U.S. that accept Visa and MasterCard credit cards and debit cards, a law firm for the […]
A mining company is concerned the postponement of public hearings on its NICO project could delay construction plans and add another year to a project that’s already taken three-and-a-half years to review. Fortune Minerals Ltd. wants to build a cobalt-gold and bismuth mine at its Nico property, located about 90 kilometres north of Behchoko, N.W.T. A hearing was scheduled to be held in Behchoko at the Elizabeth […]
Before you jump into the markets, take the time to learn from the missteps of novice investors. Here are three common first-time investing mistakes. Not having a plan A common mistake among first-time investors is that they lack a solid plan that will carry them through good and bad times, says Mark Holder, chief investment officer at Oklahoma-based portfolio management firm Stone Fox Capital Advisors. Failing to […]
