Monday, 11 August 2025
Watch Mideast Funds Adopt Wall Street Pay Model - Bloomberg
Watch Mideast Funds Adopt Wall Street Pay Model - Bloomberg
A growing number of job candidates are asking Middle Eastern sovereign wealth funds to offer them carried interest awards- a type of performance-based pay tied to investment gains. As Alex Dooler explains to Lizzy Burden on Horizons Middle East and Africa, the new approach marks a shift from their traditional reliance on high salaries and lifestyle perks. (Source: Bloomberg)
#Qatar Gas $1 Billion Loan Adds to Middle East Funding Frenzy - Bloomberg
Qatar Gas $1 Billion Loan Adds to Middle East Funding Frenzy - Bloomberg
Qatar Gas Transport Co. is seeking a $1 billion syndicated loan, according to a person familiar with the matter, adding to the flurry of Middle East borrowers that have tapped Asian lenders recently.
Mizuho Bank Ltd. is the sole mandated lead arranger and bookrunner of the five-year deal, the person said, who asked not to be identified discussing private matters. The deal carries a greenshoe option, which allows the size to increase by an additional $330 million, the person said.
The loan, which is being syndicated to the broader market, pays an interest margin of 82 basis points over the benchmark Secured Overnight Financing Rate, the person said, adding that the proceeds are for general corporate purposes.
Qatar Gas didn’t immediately respond to a request for comment.
Qatar Gas joins a slew of Middle East borrowers, notably from the Gulf States, keen to tap banks in Asia to diversify fundraising beyond their domestic capital markets. Saudi Investment Bank, for example, just launched a syndicated loan of as much as $750 million, while Saudi Electricity Co. is in the market with a $1 billion facility.
Qatar Gas, more commonly known as Nakilat, is expanding its liquefied natural gas fleet as the nation seeks to reinforce its position as a leading global supplier of clean energy, according to local media. The borrower last month launched its first financing package with the Export-Import Bank of Korea to build 25 conventional Korean-built LNG vessels.
Qatar Gas Transport Co. is seeking a $1 billion syndicated loan, according to a person familiar with the matter, adding to the flurry of Middle East borrowers that have tapped Asian lenders recently.
Mizuho Bank Ltd. is the sole mandated lead arranger and bookrunner of the five-year deal, the person said, who asked not to be identified discussing private matters. The deal carries a greenshoe option, which allows the size to increase by an additional $330 million, the person said.
The loan, which is being syndicated to the broader market, pays an interest margin of 82 basis points over the benchmark Secured Overnight Financing Rate, the person said, adding that the proceeds are for general corporate purposes.
Qatar Gas didn’t immediately respond to a request for comment.
Qatar Gas joins a slew of Middle East borrowers, notably from the Gulf States, keen to tap banks in Asia to diversify fundraising beyond their domestic capital markets. Saudi Investment Bank, for example, just launched a syndicated loan of as much as $750 million, while Saudi Electricity Co. is in the market with a $1 billion facility.
Qatar Gas, more commonly known as Nakilat, is expanding its liquefied natural gas fleet as the nation seeks to reinforce its position as a leading global supplier of clean energy, according to local media. The borrower last month launched its first financing package with the Export-Import Bank of Korea to build 25 conventional Korean-built LNG vessels.
Australia's Santos extends due diligence deadline for $18.7 billion ADNOC-led offer | Reuters
Australia's Santos extends due diligence deadline for $18.7 billion ADNOC-led offer | Reuters
Santos (STO.AX), opens new tab said on Monday it had extended the period of exclusive due diligence to an international consortium led by Abu Dhabi's National Oil Company (ADNOC), which had offered $18.7 billion for Australia's second biggest gas producer.
The period for exclusive due diligence has been extended until August 22, it said.
ADNOC's investment arm XRG, along with Abu Dhabi Development Holding Company (ADQ) and private equity firm Carlyle, had offered $5.76 (A$8.89) per Santos share when the proposal was announced in mid-June.
XRG now stands on the cusp of a deal that would give it stakes in major operations across Australia and Papua New Guinea— pending regulatory approval. Santos has already expressed its support for the takeover.
If the deal goes through, Santos will form the Asia-Pacific platform of a global LNG business, as ADNOC looks to diversify beyond the Middle East amid rising geopolitical tensions in the region.
Santos (STO.AX), opens new tab said on Monday it had extended the period of exclusive due diligence to an international consortium led by Abu Dhabi's National Oil Company (ADNOC), which had offered $18.7 billion for Australia's second biggest gas producer.
The period for exclusive due diligence has been extended until August 22, it said.
ADNOC's investment arm XRG, along with Abu Dhabi Development Holding Company (ADQ) and private equity firm Carlyle, had offered $5.76 (A$8.89) per Santos share when the proposal was announced in mid-June.
XRG now stands on the cusp of a deal that would give it stakes in major operations across Australia and Papua New Guinea— pending regulatory approval. Santos has already expressed its support for the takeover.
If the deal goes through, Santos will form the Asia-Pacific platform of a global LNG business, as ADNOC looks to diversify beyond the Middle East amid rising geopolitical tensions in the region.
Gulf shares mixed on corporate earnings, US inflation | Reuters
Gulf shares mixed on corporate earnings, US inflation | Reuters
Stock markets in the Gulf were mixed on Monday as investors weighed earnings reports while awaiting key U.S. inflation data and the expiry of a U.S. tariff deadline on China.
U.S. consumer prices, scheduled for Tuesday, will offer clues on the Federal Reserve's path for rate cuts. A hotter than expected reading could dampen expectations for near-term interest rate reductions. Traders are currently pricing in about a 90% probability of an easing in September and at least one more cut by year-end.
Monetary policy shifts in the U.S. have a significant impact on Gulf markets, where most currencies are pegged to the dollar.
Saudi Advanced Industries Co (2120.SE), opens new tab slumped 9.5% to hit more than two-year low after the investment firm posted a second-quarter net loss, compared to profit a year earlier.
Shares of MBC Group (4072.SE), opens new tab dropped 4.1% to 30.3 riyals per share, their lowest since listing in January. The media giant reported a 38% decrease in quarterly net profit.
Among other losers Al-Dawaa Medical Services Co (4163.SE), opens new tab dropped 6.3% as the healthcare service provider reported a 9.7% year-on-year decline in quarterly net profit.
The Abu Dhabi benchmark index (.FTFADGI), opens new tab fell for a fourth day, dipping 0.1%, with Abu Dhabi Islamic Bank (ADIB.AD), opens new tab dropping 1.9% and Ghitha Holding (GHITHA.AD), opens new tab declining 4.8%.
In contrast, Apex Investment (APEX.AD), opens new tab advanced 4.3% and Dana Gas (DANA.AD), opens new tab rose 1.6%.
Dubai's benchmark stock index (.DFMGI), opens new tab was up 0.1%, aided by gains in consumer discretionary, utilities, communication and industry shares. Tolls operator Salik (SALIK.DU), opens new tab added 1.7% and Amlak Finance (AMLK.DU), opens new tab surged 10.1%.
The Qatari benchmark index (.QSI), opens new tab gained 0.1%, supported by a 0.5% rise in Industries Qatar (IQCD.QA), opens new tab and a 1.5% increase in Qatar Electricity and Water (QEWC.QA), opens new tab.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab was down 0.6% after a seven-session winning streak and hitting a fresh record high in the previous session. Abu Qir Fertilizers (ABUK.CA), opens new tab lost 1.1% while Talaat Moustafa Group (TMGH.CA), opens new tab shed 0.6%.
Egypt's annual urban consumer price inflation dropped to 13.9% in July from 14.9% in June, while core inflation rose to 11.6% year-on-year in July from 11.4% in June, the central bank said late on Sunday.
Stock markets in the Gulf were mixed on Monday as investors weighed earnings reports while awaiting key U.S. inflation data and the expiry of a U.S. tariff deadline on China.
U.S. consumer prices, scheduled for Tuesday, will offer clues on the Federal Reserve's path for rate cuts. A hotter than expected reading could dampen expectations for near-term interest rate reductions. Traders are currently pricing in about a 90% probability of an easing in September and at least one more cut by year-end.
Monetary policy shifts in the U.S. have a significant impact on Gulf markets, where most currencies are pegged to the dollar.
Saudi Arabia's benchmark stock index (.TASI), opens new tab slipped for a third straight session, ending 1% lower, with most constituents posting losses.
Saudi Advanced Industries Co (2120.SE), opens new tab slumped 9.5% to hit more than two-year low after the investment firm posted a second-quarter net loss, compared to profit a year earlier.
Shares of MBC Group (4072.SE), opens new tab dropped 4.1% to 30.3 riyals per share, their lowest since listing in January. The media giant reported a 38% decrease in quarterly net profit.
Among other losers Al-Dawaa Medical Services Co (4163.SE), opens new tab dropped 6.3% as the healthcare service provider reported a 9.7% year-on-year decline in quarterly net profit.
The Abu Dhabi benchmark index (.FTFADGI), opens new tab fell for a fourth day, dipping 0.1%, with Abu Dhabi Islamic Bank (ADIB.AD), opens new tab dropping 1.9% and Ghitha Holding (GHITHA.AD), opens new tab declining 4.8%.
In contrast, Apex Investment (APEX.AD), opens new tab advanced 4.3% and Dana Gas (DANA.AD), opens new tab rose 1.6%.
Dubai's benchmark stock index (.DFMGI), opens new tab was up 0.1%, aided by gains in consumer discretionary, utilities, communication and industry shares. Tolls operator Salik (SALIK.DU), opens new tab added 1.7% and Amlak Finance (AMLK.DU), opens new tab surged 10.1%.
The Qatari benchmark index (.QSI), opens new tab gained 0.1%, supported by a 0.5% rise in Industries Qatar (IQCD.QA), opens new tab and a 1.5% increase in Qatar Electricity and Water (QEWC.QA), opens new tab.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab was down 0.6% after a seven-session winning streak and hitting a fresh record high in the previous session. Abu Qir Fertilizers (ABUK.CA), opens new tab lost 1.1% while Talaat Moustafa Group (TMGH.CA), opens new tab shed 0.6%.
Egypt's largest developer, TMG, posted a 26.6% fall in second-quarter net profit attributable to shareholders, compared to the previous three months.
Egypt's annual urban consumer price inflation dropped to 13.9% in July from 14.9% in June, while core inflation rose to 11.6% year-on-year in July from 11.4% in June, the central bank said late on Sunday.
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