Google+ Followers

Saturday, 15 November 2014

Goldman Leads $1.15bn Project Loans For Dubai Theme Parks - Gulf Business

Goldman Leads $1.15bn Project Loans For Dubai Theme Parks - Gulf Business:



"Goldman Sachs is expected to sign a $1.15 billion project financing loan for Dubai Park and Resorts this week, which will finance the construction of a $2.9 billion amusement park complex in Dubai, banking sources said on Wednesday.



The loan has been underwritten by Goldman Sachs, which led and structured the deal, Abu Dhabi Commercial Bank, Commercial Bank International, Emirates National Bank of Dubai, and Noorbank, the sources said.



Dubai Park and Resorts is part of property developer Meraas Holding, which is owned by Dubai’s ruler Sheikh Mohammed bin Rashid al-Maktoum."



'via Blog this'

EU Seeks Clear Economic Strategy From Ukraine - WSJ - WSJ

EU Seeks Clear Economic Strategy From Ukraine - WSJ - WSJ:



"The European Union won’t organize a donors’ conference until Ukraine’s government lays out a clear new economic strategy, the bloc’s new enlargement chief said Friday.



In a fresh sign of European concern about the pace of Ukraine’s economic reforms, Johannes Hahn said he told Kiev officials that they need to set clear priorities for outside investment before a date for a conference can be set.



“They asked to have it as soon as possible...and we are crystal clear on that,” Mr. Hahn told a small group of reporters. “As long as they don’t come forward with a strategic concept about the future development of the country, we are not willing to fix a date.”"



'via Blog this'

It is for Oman to make the tough choices | GulfNews.com

It is for Oman to make the tough choices | GulfNews.com:



"Recently, conflicting political and economic reports have been emerging about Oman. On a positive note, the Omani capital of Muscat was in the spotlight by hosting a high-profile meeting between the US, the EU and Iran over Tehran’s nuclear programme.



Signalling a major diplomatic success for the sultanate, the meeting was the first of its kind within the Gulf Cooperation Council (GCC) on a topic of such significance to the six-nation grouping.



On the negative side, the meeting coincided with a disturbing piece of news raised by the rating agency Standard & Poor’s about the sultanate’s public finance levels. The cause of the concern is understandable, namely the adverse effect of a steady drop in oil prices on the state of the broader economy."



'via Blog this'

Russian State Rail Stations Operator Fails to Redeem Bonds - Bloomberg

Russian State Rail Stations Operator Fails to Redeem Bonds - Bloomberg:



"A company managing Russian train stations, part of state-owned Russian Railways, failed to redeem bonds this week, citing delays in third-party payments. 




OAO RZhD-Razvitie Vokzalov, 25 percent owned by a unit of Russian Railways, will repay 176.4 million rubles ($3.7 million) of notes later this month after missing a Nov. 10 deadline, it said an e-mailed statement today. The yield on Russian Railways’ euro-denominated note due in May 2021 increased 20 basis points to a two-month high of 5.28 percent at 4:06 p.m. in Moscow, data compiled by Bloomberg show.



Sanctions against Russia over President Vladimir Putin’s role in Ukraine are making it harder for companies to refinance, with corporate ruble-bond sales dropping 59 percent this year from the same period of 2013. Russian Railways spokesman Grigory Levchenko said by phone that RZhD-Razvitie Vokzalov’s decision “doesn’t, in any way, affect Russian Railways’ conscientious fulfillment” of its own debt obligations."



'via Blog this'

OPEC Diplomacy Picks Up With Iraq-to-Libya Chiefs - Bloomberg

OPEC Diplomacy Picks Up With Iraq-to-Libya Chiefs - Bloomberg:



"OPEC producers are stepping up their diplomatic visits before the group’s meeting in two weeks, potentially seeking a consensus on how to react to oil prices that have plunged to a four-year low. 




Libyan Prime Minister Abdullah al-Thani flew to Riyadh yesterday just as Iraqi President Fouad Masoum left the kingdom after a two-day visit where he met with King Abdullah, the official Saudi Press Agency reported. Rafael Ramirez, Venezuela’s foreign minister and representative to OPEC, held talks in Algeria and Qatar. Saudi Arabia’s Oil Minister Ali Al-Naimi toured Latin America.



“The Saudis will not walk the road alone, they want to see everyone share the burden with them,” Kuwait-based analyst Kamel al-Harami said by phone. Saudi Arabia, the world’s biggest oil exporter, is trying to build consensus among fellow members of the Organization of Petroleum Exporting Countries before they meet Nov. 27 in Vienna, he said."



'via Blog this'