Investors in Saudi Arabia’s stock market, the largest in the Middle East, should halt their speculative activities to support the bourse and ensure normal growth based on good corporate performance, the country’s largest bank said.
National Commercial Bank (NCB) said Tadawul All Share Index (TASI), Saudi Arabia’s main equity index has stagnated and is facing a strong resistance level.
Citing market figures, it said that during post-regional political outbursts, the index has peaked at end of April at 6,724 and has been hovering around 6,700.
Friday 27 May 2011
gulfnews : Emirates NBD closes exchange offer for notes
Emirates NBD announced on May 10 an Exchange Offer addressed to holders of Emirates NBD subordinated step-up floating rate notes due in 2016.
Holders were invited to offer to exchange their existing notes for new senior notes with a maturity date of May 31, 2018.
On May 18 it was announced that the new notes would pay a margin of 150bp over three-month US dollar Libor.
Holders were invited to offer to exchange their existing notes for new senior notes with a maturity date of May 31, 2018.
On May 18 it was announced that the new notes would pay a margin of 150bp over three-month US dollar Libor.
Dewa seeks $1.5 billion abroad for private power plant - The National
Dubai's state utility has begun an international campaign to finance its first private power and water plant.
Officials from the Dubai Electricity and Water Authority (Dewa) plan to visit Japan and Europe next month to pitch a US$1.5 billion (Dh5.5bn) power and water desalination project to banks, said Waleed Salman, Dewa's vice president of strategy and business development.
The company selected potential bidders this week for the project. HSBC is advising.
Officials from the Dubai Electricity and Water Authority (Dewa) plan to visit Japan and Europe next month to pitch a US$1.5 billion (Dh5.5bn) power and water desalination project to banks, said Waleed Salman, Dewa's vice president of strategy and business development.
The company selected potential bidders this week for the project. HSBC is advising.
Qatar seen ordering more A380s-report | Reuters
Qatar Airways plans to increase its order for Airbus (EAD.PA) A380 passenger jets at the Paris Air Show, Flight International reported.
The Gulf airline has five of the world's largest passenger jets on order, worth $375 million each at current list prices.
It could also place an order for A330 freighters.
The Gulf airline has five of the world's largest passenger jets on order, worth $375 million each at current list prices.
It could also place an order for A330 freighters.
Why al-Jazeera sustains Qatar state of affairs | The Australian
It is the founder, bankroller and controller of al-Jazeera, which is playing such a pivotal role in inspiring the Arab Spring. Yet its fabulously wealthy ruling family led by the Emir, the Sandhurst-trained Sheikh Hamad bin Khalifa al-Thani, 59, is as autocratic and non-democratic as any of the Middle Eastern despots the broadcaster is viewed as having helped overthrow or place under siege.
In country after country, al-Jazeera's widely admired reporting is seen to stir revolution in the Arab world.
At the same time, that has not stopped the conundrum that Qatar is coming to the aid of other autocratic regimes.
In country after country, al-Jazeera's widely admired reporting is seen to stir revolution in the Arab world.
At the same time, that has not stopped the conundrum that Qatar is coming to the aid of other autocratic regimes.
Gulf Islamic bond sales seen set for revival | Alrroya
A recent spate of Islamic bond issues in the Gulf region is setting up the fledging sector for a strong second half of 2011, as borrowers look to benefit from attractive pricing and improving investor sentiment.
The flurry of activity, including two Gulf sukuk issues in the past week - by Islamic Development Bank and Sharjah Islamic Bank - and several more in the pipeline, were seen as signs the sukuk market may be embarking on a recovery.
"The recent sukuk issues could be the beginning of what may be a resurgence of the sukuk market in this region," said Chavan Bhogaita, head of the markets strategy department at National Bank of Abu Dhabi.
The flurry of activity, including two Gulf sukuk issues in the past week - by Islamic Development Bank and Sharjah Islamic Bank - and several more in the pipeline, were seen as signs the sukuk market may be embarking on a recovery.
"The recent sukuk issues could be the beginning of what may be a resurgence of the sukuk market in this region," said Chavan Bhogaita, head of the markets strategy department at National Bank of Abu Dhabi.
Is Dubai property really showing signs of recovery? « ArabianMoney
One swallow does not make a summer and the same might be said for a Dubai real estate recovery. There have been some good signs recently, namely a fall in mortgage rates, a stabilization of rents and asking prices, a new source of demand from Arab uprising refugees and an increase in second-hand property sales.
But it is a bit early to say if this is more than a temporary upturn that will be dashed by the huge upcoming supply of property of all types in Dubai. The completion of the super-tall Torch tower in Dubai Marina this month, for example, brought another 675 apartments into the Dubai inventory.