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Issue 1018 - 01 July 2016

New Bahrain Bourse fund

Free

The authorities have been trying to shore up confidence in the local stock market, with a $100m fund recently launched to provide stability to the Bahrain Bourse. The seed investors in the fund include local banks BBK and National Bank of Bahrain, Bahrain Mumtalakat Holding Company and Osool, the investment arm of the Social Insurance Organisation and Military Pension Fund.

Bahrain
Issue 1097 - 06 February 2020

UAE: $2bn aid package for Nouakchott

Subscriber

The UAE says it will provide $2bn for a series of investment and development projects in Mauritania, along with a soft loan (it is not clear if the loan is included in the headline figure, or will form a separate line of assistance). The package was announced following talks on 2 February between Mauritanian President Mohammed Ould Cheikh El Ghazouani and Abu Dhabi Crown Prince and UAE Armed Forces deputy supreme commander Sheikh Mohammed Bin Zayed Al-Nahyan at the Presidential Palace in Abu Dhabi.

United Arab Emirates (UAE)
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Qatar National Bank Group (QNB Group) has bought 49% of the Bank of Commerce and Development (BCD), a leading Libyan private bank. 

Qatar
Free

It is a question often asked, the frequent subject of private conversations and regional chat show debates: how Islamic is Islamic finance?

Issue 941 - 21 February 2013

UAE: $2.5bn grant to Bahrain

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The Abu Dhabi Fund for Development (ADFD) has committed $2.5bn to Bahrain, representing 25% of the total promised by the Gulf Co-operation Council (GCC) development programme. According to an 18 February report by UAE state news agency Wam, a memorandum of understanding was signed in Manama by Bahrain’s finance minister Mohammed Al-Khalifa and ADFD acting director general Mohammed Saif Al-Suwaidi.

Bahrain | United Arab Emirates (UAE)
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After a long gestation, the $530bn Saudi stock exchange, known as Tadawul, finally opened to foreign investors on 15 June. While Saudi Arabia hopes the move will eventually attract significant investment, caution is likely to be the prevailing sentiment among incoming investors over the short term. Only HSBC has received a qualified investor (QFI) licence so far, though others, including the Ashmore Group, have applied. Local asset manager Jadwa Investment has already warned that activity on the exchange is likely to be subdued over the summer.

Saudi Arabia
Subscriber

Atradius Dutch State Business has highlighted a significant series of claims and payment delays. The Dutch export credit agency has received claims on Saudi Arabia and run into payment delays from Qatar and Bahrain “where risk was written in both cases with the 100% support of the government”, director

Subscriber

Western powers have added more sanctions to a raft of measures intended to pressure Iran into modifying its nuclear ambitions, but a pocket of finance is still available for businesses seeking to trade with the Islamic Republic.

Iran
Issue 1083 - 21 June 2019

Regional FDI trends

Subscriber

The sharp rise in Saudi Arabia’s outward foreign direct investment meant the kingdom overtook both the UAE and Kuwait to become the leading source of outbound FDI from the Gulf last year. Outward investments from the UAE totalled $15.1bn in 2018, up from $14.1bn in 2017, but still below Saudi Arabia’s $21.2bn. Kuwaiti outbound FDI declined sharply, to $3.8bn in 2018 from $9bn one year earlier, according to the United Nations Conference on Trade and Development (Unctad)’s latest World Investment Report.

Subscriber

As the Saudi solvency crisis has unfolded market speculation has focused on any business relationship between the Al-Gosaibi and Al-Sanea companies, in an attempt to explain why two so seemingly successful family businesses have fallen into difficulty.

Saudi Arabia
Issue 935 - 08 November 2012

Saudi-China trade at a record high

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China has overtaken the US to become Saudi Arabia’s largest trading partner, with bilateral trade hitting $64.3bn in 2011. GSN takes a look at the interesting history of a relationship which has largely been driven by Riyadh.

Saudi Arabia
Issue 1070 - 29 November 2018

Qatar: Court no-show costs Al-Thani

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A company chaired by Sheikh Nawaf Bin Jassim Bin Jabr Al-Thani – a younger brother of former Qatari premier Sheikh Hamad Bin Jassim (HBJ) – has lost a claim for €65m ($74m) made in a British court, in part because the sheikh failed to give oral evidence.The dispute dates to 2008 when Qatar National Hotels Company – which is now owned by Qatar Investment Authority and renamed Katara Hospitality – paid €68m to buy into a business that was part-owned and run by Gerard Guez and his wife Jacqueline Rose.

Qatar
Subscriber

Riyadh announced a three-tranche bond issue on 11 April, raising a total of $11bn. The funds comprised $4.5bn in seven-year bonds priced at 140 basis points over US Treasuries, $3bn in 12-year notes at 175 basis points and $3.5bn in 31-year notes at 210 basis points. According to the Ministry of Finance, the total order book for the issue reached $52bn. It is the second time this year Riyadh has raised external financing; in March it added $6bn to an existing $10bn loan facility agreed in 2016.

Saudi Arabia | Qatar
Subscriber

Moody’s Investors Service’s annual Banking System Outlook for Qatar remains stable, unchanged since 2010. “The outlook reflects Qatar’s benign economic environment and the rating agency’s expectation that Qatari banks will maintain strong financial metrics, including low levels of non-performing loans, robust earnings and sound capitalisation,” Moody’s said in a statement on 9 April.

Qatar
Issue 851 - 18 April 2009

New Bahrain bourse to open in 2010

Subscriber

When launched in Q1 10 the new Bahrain Financial Exchange (BFX) will offer to members a platform to trade multiple asset classes including capital

Bahrain