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Finance News & Analysis

Gas terminal

Development banks lend on Egyptian hydrocarbons storage Subscription

Gas import infrastructure project has secured finance

Petrochemicals plant

Liwa Plastics looks for February financing closeSubscription

Orpic escapes liquidity squeeze

Dubai International Financial Centre

Barclays cuts 150 jobs in UAE corporate banking armSubscription

British bank the latest lender to reduce staff in the country amid economic slowdown

Egypt farm

Egypt plans to set up commodities exchangeSubscription

Egypt is currently the world’s largest importer of wheat

UAE finance

Union Properties in discussions for loanSubscription

Developer still seeking finance for four projects

Oman money

Oman announces further debt issuanceSubscription

Muscat to tap domestic market again

Moody’s upgrades Qatar bank

Qatari banks face slumping profits in 2016Subscription

Ratings agency S&P says deposit growth to slow down markedly amid fall in liquidity

Saudi Aramco

Saudi Aramco considers sukukSubscription

Size of issuance yet to be decided

A construction crane crashed into the Grand Mosque in Mecca on 12 September, killing 107 people

Riyadh completes Mecca crane accident inquirySubscription

Saudi Arabia is expected to make an announcement on findings within weeks

Egypt housing

Egyptian banks ink housing loanSubscription

Egypt requires at least 500,000 new homes to be built every year for five years to keep up with population growth

Funding: Jabal Omar Development Company received a $1bn loan from NCB, a new entrant to the MEED 100

Jabal Omar misses first loan repaymentSubscription

Saudi Arabian developer fails to make first payment of a finance deal arrange in late 2015

Abu Dhabi skyline

Abu Dhabi Commercial Bank’s 2015 profit jumps 17 per centSubscription

Income from consumer and wholesale banking operations helps lender’s profitability

Egyptian Exchange

Egypt plans IPO for state-owned contractor Subscription

Move is part of broader government scheme to list public companies

A construction crane crashed into the Grand Mosque in Mecca on 12 September, killing 107 people

Saudi Binladin Group eyes private sector property developmentSubscription

Firm is reducing dependence on government construction contracts

Solar panels

Dewa seeks advisers for $27bn clean energy fundSubscription

Dubai Green Fund aims to provide low-cost loans for green energy sector

Riyadh

Algosaibi presents settlement detailsSubscription

Claimants have been invited to enter process to agree amounts of their claims

Tehran in Iran

Italian export credit agency inks Iran dealSubscription

Agreement covers claims paid by Sace to Italian companies after sanctions were imposed

Saudi Arabia currency

GCC to defend currency pegsSubscription

GCC states have adequate reserves to maintain pegs for years

Dubai triples renewables target

Commercial banks say 'no' to Egyptian renewablesSubscription

No appetite from international lenders, development banks reach maximum capacity

Aramex headquarters in Dubai

Aramex buys New Zealand’s logistics companySubscription

Logistics firm buys 100 per cent of the company’s business in New Zealand and Australia

China's President Xi Jinping (right) shakes hands with Egypt's President Abdul Fattah al-Sisi

China's president signs Egypt finance dealsSubscription

Beijing builds Middle East ties

Photovoltaic solar power

Egypt to announce new renewables tariffsSubscription

New round of projects under study

Mobily

Mobily swings to fourth-quarter profitSubscription

Full-year 2015 loss narrows for Saudi telecoms firm

Power station

Development banks to finance Egyptian IPPSubscription

American multinational takes equity stake

Riyadh

Riyadh-listed STC’s fourth-quarter net profit drops 20 per centSubscription

Rising cost of services and increase in operating expenses affected profitability

Hossam Abougabal

Cairo must let go of large state-owned companiesSubscription

Letting go of large state-owned companies will create more efficient operations that can drive growth in the private sector

Hospitality Management Holdings signs contract with Mobarak Hotels to operate Coral al-Medina hotel in Saudi Arabia

Medina site work halt leaves more questions than answersVideoSubscription

Contractors and bankers to closely watch Saudi Binladin Group and Ministry of Finance’s future course of action

Philippa Wilkinson

GCC gets serious on subsidiesSubscription

After years of debate, the region’s governments are finally cutting subsidies, but the timing is poor

Philippa Wilkinson

Saudi Arabia's aid to EgyptSubscription

Egypt’s support for Saudi Arabia’s Islamic coalition coincides with a major aid package

Andrew Roscoe

Saudi Arabia seeks to take pressure off balance sheetsSubscription

IWPP model will ease burden on government spending