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Wednesday, 8 June 2016

Saudi Scales Back on Renewable Energy - Bloomberg

Saudi Scales Back on Renewable Energy - Bloomberg:




"Saudi Arabia is dialing back on its pledges for renewable energy. Riyadh has reduced its targets from 50% of the energy mix to just under 10% amid plans to burn more natural gas. Bloomberg's Anthony DiPaola reports on "Bloomberg Markets Middle East." (Source: Bloomberg)"



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How Will the Saudi Plan Impact Stocks? - Bloomberg

How Will the Saudi Plan Impact Stocks? - Bloomberg:




"Bassel Khatoun, chief investment officer of MENA equities at Franklin Templeton Investments, discusses Saudi Arabia's National Transformation Program, their bond sale and where he sees opportunity. He speaks to Manus Cranny and Rishaad Salamat on "Bloomberg Markets Middle East." (Source: Bloomberg)"



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MIDEAST STOCKS-Property developers support Saudi bourse | Reuters

MIDEAST STOCKS-Property developers support Saudi bourse | Reuters:

"Property shares helped lift the Saudi bourse in early trade on Wednesday as two developers said they were in talks with the housing ministry to build more homes.

Shares in Dar Al Arkan Real Estate Development Co jumped 9.2 percent to 5.95 riyals, after surging by its daily 10 percent limit on Tuesday.

After the market close on Tuesday, the developer said it was in talks with the government to provide housing units under the kingdom's economic reform plan. It did not give further details."



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Taqa to seek debt refinance abroad | The National

Taqa to seek debt refinance abroad | The National:

"Abu Dhabi National Energy Company will this week start doing the rounds of potential bond investors as it seeks to refinance a maturing portion of its large debt load.

The company, which is known as Taqa, announced through the Abu Dhabi Stock Exchange that it would start making presentations to investors this week.

Taqa, a majority government-owned utility with overseas oil, gas and power interests, said it could not confirm its bank syndicate for the bond issue, the “roadshow" schedule or the amount.

"



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