Bloomberg/New York Bond investors are looking for orientation points this week in a fog of panic that’s paralysed parts of the world’s biggest and safest debt market. Roughly $340bn of Treasuries are on the way. That burst of supply could help a market starved of high-quality securities if it... Read more
Dr Sulaiman Al Habib Medical Group plans to start the sale of a 15% stake in initial public offering Dr Sulaiman Al Habib Medical Group, one of Saudi Arabia’s largest private healthcare operators, plans to start the sale of a 15 percent stake in an initial public offering next... Read more
Prepared by previous government, plan ‘does little to alleviate country’s dire financial situation,’ they say The 2020 Lebanese state budget approved by the legislature this week, which forecasts a 6% deficit, will not solve the country’s economic crisis, experts say. Rabih Haber, CEO and general manager of the Statistics... Read more
Oil giant aims to incentivize its 73,000 staff with the share scheme, according to its IPO prospectus Saudi Aramco is to offer $1 billion in shares to employees as part of its initial public offering (IPO) next month, according to the official prospectus. The move is part of a... Read more
Saudi Aramco, the world’s largest oil company, took another step on its lengthy path to a stock market listing on Saturday, saying that it would announce a final price for its shares on Dec. 5, with trading expected to start in mid-December. The company announced last week that it... Read more
The GCC equity market continued to be quiet during Q3 2019, with only one company listing on the Kingdom of Saudi Arabia’s Tadawul as compared with three in the same quarter last year across a range of sectors. However, the region’s debt market was active and witnessed iconic transactions... Read more
Credit demand from the government and public sector enterprises will fuel lending growth in the UAE in 2019 and 2020 amid stable but subdued economic growth, Moody’s Investors Service said. Maintaining its stable outlook for the UAE banking system, the ratings agency said strong capital, stable funding, and healthy... Read more
Turkey is set to introduce blockchain-based digital currency, according to data compiled by Anadolu Agency from the country’s Annual Presidential Program. Turkey will launch the currency after its design, development and testing phases are completed. Testing is expected to start in 2020. The announcement comes as China is preparing... Read more
Banque du Liban said raising capital by $4bn would help banks ‘confront the current situation and any future developments particularly in the face of a possible credit downgrade’ Lebanon’s central bank asked local lenders to raise their capital by 20% in the next year, the state-run National News Agency... Read more
Transfer of money by Saudis outside the kingdom also down 9% compared to last year Expatriates in Saudi Arabia sent SR93 billion ($24.8bn) overseas in the first nine months of the year – down 11 percent for the same period in 2018. However, according to figures released by the... Read more