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Tuesday, 21 June 2016

Boeing confirms signing jetliner deal with Iran Air | Reuters

Boeing confirms signing jetliner deal with Iran Air | Reuters:

"Boeing Co signed an agreement to sell jetliners to Iran Air, the company said on Tuesday, confirming Iranian statements about the historic deal to sell 100 jetliners to the airline.

The tentative agreement, which marks Boeing's first sale to Iran since its Islamic Revolution in 1979, resulted from the nuclear accord reached with the country last year.

The agreement brings more work to Boeing's factories in Washington state and South Carolina, and helps the aerospace and defense company catch up with a $27 billion, 118-plane order Iran placed with Airbus in January."



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MIDEAST STOCKS-Gulf mostly firm; Egypt regains some ground | Reuters

MIDEAST STOCKS-Gulf mostly firm; Egypt regains some ground | Reuters:

"Most Gulf bourses firmed on Tuesday as fresh merger speculation moved stocks in Abu Dhabi, though Saudi Arabia's stock market lost steam as oil prices fell back. Egypt's bourse partially recovered from sharp losses but remained technically bearish.

National Bank of Abu Dhabi pulled back 1.7 percent after surging 20 percent in the previous two days on news of its merger talks with First Gulf Bank. FGB closed flat.

But Union National Bank added 4.6 percent after Arqaam Capital said in a note that after the proposed merger between NBAD and FGB, "we expect UNB to be next"."



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Full Show: Bloomberg Markets Middle East (06/21) - Bloomberg

Full Show: Bloomberg Markets Middle East (06/21) - Bloomberg:




"Bloomberg Markets Middle East hosted by Manus Cranny and Rishaad Salamat. Guests include Sanjay Uppal, chief executive officer at StraitsBridge, Angus Nicholson, market analyst at IG, Sebastien Henin, head of asset management at The National Investor, and Li Ka-Shing, chairman at CK Hutchison. (Source: Bloomberg)"



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MIDEAST STOCKS-Gulf firms in early trade but NBAD cools | Reuters

MIDEAST STOCKS-Gulf firms in early trade but NBAD cools | Reuters:

"Stock markets in the Gulf were firm early on Tuesday, supported by opinion polls and bookmakers' odds suggesting the "Remain" camp might win Britain's referendum on European Union membership this week, and as oil held over $50 a barrel.

In Abu Dhabi, National Bank of Abu Dhabi pulled back 1.7 percent after surging 20 percent in the previous two days on news of its merger talks with First Gulf Bank.

But FGB edged up 0.4 percent, and Union National Bank added 2.1 percent after Arqaam Capital said in a note that after the proposed merger between NBAD and FGB, "we expect UNB to be next"."



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What You Need to Know About Abu Dhabi’s Plan for a Megabank: Q&A - Bloomberg

What You Need to Know About Abu Dhabi’s Plan for a Megabank: Q&A - Bloomberg:

"National Bank of Abu Dhabi PJSC and First Gulf Bank PJSC, the two largest banks in the oil-rich emirate of Abu Dhabi, said on Sunday that they’re in early stage merger talks. A combination would create a regional powerhouse with assets of about $170 billion and a larger market valuation than Deutsche Bank AG and Credit Suisse Group AG.
What’s happened so far?
Bloomberg News was first to report on Thursday that the banks were considering a potential merger. On Sunday, in a brief statement to the Abu Dhabi stock exchange, the lenders said they’d formed working groups composed of senior executives to explore a potential combination. NBAD surged by the maximum daily limit on Sunday on speculation that the deal would effectively be a takeover of NBAD by FGB. Other bank stocks rallied."



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