MIDEAST STOCKS-Gulf markets slip as Ramadan saps liquidity | Reuters:
"Most Gulf bourses slipped on Thursday, despite higher oil prices, as some local retail investors stepped back from the markets with the beginning of the Muslim holy month of Ramadan.
Saudi Arabia's main index edged down 0.4 percent and Al Rajhi Bank, down 1.0 percent, was the main drag on the benchmark.
Al Rajhi, a leading retail lender which accounts for a large share of Saudi Arabia's interest-free deposits, had risen 3.0 percent this week as investors bet on a hawkish statement by the U.S. Federal Reserve after its policy meeting."
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Thursday 18 June 2015
Emaar Misr sets IPO price at 3.8 Egyptian pounds per share | The National
Emaar Misr sets IPO price at 3.8 Egyptian pounds per share | The National:
"Egypt’s Emaar Misr has priced its initial public offering at 3.8 Egyptian pounds (Dh1.82) per share, its parent firm Emaar Properties said on Thursday.
Emaar said earlier this month the offer would be priced at between 3.5 pounds and 4.25 pounds per share.
Emaar Misr is floating 12.99 per cent of the company, amounting to 600 million shares. Of these, 510 million have been allocated to institutional investors. This tranche was 11 times oversubscribed, Dubai-listed Emaar said in a statement to Dubai Financial Market."
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"Egypt’s Emaar Misr has priced its initial public offering at 3.8 Egyptian pounds (Dh1.82) per share, its parent firm Emaar Properties said on Thursday.
Emaar said earlier this month the offer would be priced at between 3.5 pounds and 4.25 pounds per share.
Emaar Misr is floating 12.99 per cent of the company, amounting to 600 million shares. Of these, 510 million have been allocated to institutional investors. This tranche was 11 times oversubscribed, Dubai-listed Emaar said in a statement to Dubai Financial Market."
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Big five European carriers team up in bid for new strategy amid Gulf competition | The National
Big five European carriers team up in bid for new strategy amid Gulf competition | The National:
"Europe’s big five carriers have joined forces to lobby for a new EU aviation policy to cut passenger taxes and limit strike disruption amid mounting competition from Arabian Gulf rivals.
The chief executives of Europe’s five largest airline groups – Air France KLM, easyJet, the British Airways parent company International Airlines Group, Lufthansa and Ryanair – met on Wednesday in Brussels to agree on four key recommendations.
But unlike their US peers, they have taken aim at taxation, regulation and industrial action by air traffic controllers."
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"Europe’s big five carriers have joined forces to lobby for a new EU aviation policy to cut passenger taxes and limit strike disruption amid mounting competition from Arabian Gulf rivals.
The chief executives of Europe’s five largest airline groups – Air France KLM, easyJet, the British Airways parent company International Airlines Group, Lufthansa and Ryanair – met on Wednesday in Brussels to agree on four key recommendations.
But unlike their US peers, they have taken aim at taxation, regulation and industrial action by air traffic controllers."
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