Markets News & Analysis
News
Majid al-Futtaim acquires regional Carrefour franchise for AED2.5bn
Majid al-Futtaim to raise capital through hybrid bond sale
New Saudi regulation expected to limit stock market speculation
Regulation set to narrow initial public offering valuation gap
Investors move away from high yield bonds
Regional high yield bond coupons have halved compared to three years ago
Dar al-Arkan share price plunges
Saudi real estate firm Dar al-Arkan announced it will not distribute dividend
Dubai Islamic Bank leads trading on emirate's bourse
Share swap allowed bank to fully acquire Islamic home finance provider Tamweel
Abu Dhabi stocks on the rise
Abu Dhabi Securities Exchange reports improving trading volumes and value
Qatar Petroleum plans flotations worth $50bn
Four of Qatar Petroleum’s units will offer shares in coming years
DFM General Index first-quarter value rises 12.7 per cent
But trading increases only 1.7 per cent year-on-year
Dubai repays bonds worth $909m
Dubai’s benchmark index rises 1.88 per cent as a result of repayment
Drake & Scull profits and revenues rise
Contractor’s total orderbook is AED9bn
Fivefold increase in Middle East banking mergers and acquisitions
Middle East region is an exception to downwards trend in global banking mergers and acquisitions
Arabtec shareholders approve $1.75bn capital raise
More than half capital raised will fund Arabtec oil and gas, infrastracture and power expansion
Qatar investment firm to launch major IPO in May
Qatar Holding will transfer $3bn into the company’s assets
Industry welcomes DMCC’s steps to support conflict-free gold
Dubai Multi-Commodities Centre promotes responsible sourcing of precious metals
DMCC calls for Africa to play greater role in commodity markets
Dubai Multi Commodities Centre eager to attract more African business
EFG Hermes revenues up 8 per cent
Egyptian firm EFG Hermes was sole adviser to Orascom demerger
Comment
Bonds lead over foreign funding
Riyadh split on opening up share ownership to foreigners, so will focus on building debt market instead
Dubai faces rising competition
Growth plans of regional financial centres threaten Dubai International Financial Centre’s hub status
Region behind on renminbi usage
The Middle East could lose out in building relations if it does not adopt trading with Chinese currency
Analysis
Slow rise for Saudi petrochemicals shares
Local producers currently trade lower than their global peers
Value of M&A activity down 64 per cent in first quarter
Value of Middle East merger and acquisitions fell to $2.6bn in first quarter
