Mena News

 

  Arabtec Holding’s rights issue oversubscribed
Jul , 09 , 2013  
  Dubai-based Arabtec Holding’s AED2.4bn rights issue was 30% oversubscribed. The offer period was extended by two weeks after shareholders requested more time to participate.
 

Read More

  Dubai Holding could raise USD1bn
Jul , 09 , 2013  
  Dubai Holding could raise USD1bn from the sale of its minority stake in two telecom firms.
 

Read More

  S&P assigns Dubai Investments’ affiliate ‘BB’ rating
Jul , 09 , 2013  
  Dubai Investments Park Development Company LLC (DIPDC), a wholly ‐ owned subsidiary of Dubai Investments PJSC – the largest investment company listed on the Dubai Financial Market – has been assigned a long ‐ term corporate credit rating of ‘BB’ by Standard & Poor’s Ratings Services (S&P) with a stable outlook. The rating on DIP reflects S&P’s overall assessment of DIP and Dubai Investments PJSC. Alpen Capital (ME) Limited and Nomura International plc acted as the Rating Advisors to DIPDC. Dubai Investments Park is a unique, self ‐ contained mixed ‐ use industrial, commercial and residential complex operated by DIPDC. Spread across an area of 23 square kilometers, it is a city within a city offering world ‐ class infrastructure and outstanding facilities and services. Khalid Kalban, Chairman of DIPDC and MD & CEO of Dubai Investments PJSC, said: “We are pleased with the outcome and appreciate the diligence and hard work put in by S&P in the rating process with DIPDC. As a benchmark rating, this positions us well to take advantage of favourable market conditions, with a view to enhance our overall shareholder value.” This S&P stable outlook is based on its expectations of growing earnings from the company’s property rental portfolio with long ‐ term leases. The ratings report highlighted the key strengths of DIP, especially its strategic location and high occupancy across industrial and warehouse spaces. The report also assessed the significant restructuring initiated by DI on its construction ‐ related operations over the last three years. The rating also took into consideration the company’s liquidity status and access to unused short ‐ term bank revolving credit facilities.
 

Read More

  Ooredoo’s Myanmar license "step forward"
Jul , 09 , 2013  
  Qatar’s mobile phone major Ooredoo has made a great and successful step forward in expanding its reach in Asean by picking up a mobile phone licence in Myanmar, a country seen as the last frontier for this industry and thus guaranteeing high rewards, Gulf Times stated. It seems that Ooredoo has made a very generous offer to the Myanmar government by pledging to invest no less than $15bn into a complete 3G rollout in a country where just 4 out of 100 people are currently using mobile phones. It is very likely that the investment will pay off over the 15-year licence period, and certain turbulences surrounding the successful award will also quickly cool down. The landmark win of the tender underpins Ooredoo’s presence in the Southeast Asian market and will quickly establish the new brand as a household name. The company, through its recent investment into Indonesia’s mobile phone provider Indosat, has already grown its customer base to 58.5mn. Ooredoo is also an active investor in Starhub, Singapore’s leading integrated communication provider, has also invested in LTC, the incumbent fixed and mobile network provider in Laos, and also cooperates with a broadband network provider in the Philippines. With the Myanmar engagement and continuous expansion in the region, observers feel that Ooredoo’s customer base in Southeast Asia could easily grow to about 100mn subscribers over time, with Myanmar being the key market in the region. However, Ooredoo will now have to build up its network in the country literally from scratch. The company is, together with the winner of the second licence, Telenor, contractually obliged to start operating a mobile phone network within nine months and connect one quarter of the population to mobile services within a year. By 2018, three-quarters of the country’s citizens are expected to have access to the network. If either of the two firms fails, the Myanmar government said it has France’s Telecom-Orange and Marubeni Corp of Japan as a “back-up option”. One thing where Ooredoo might have to adjust its marketing strategy to local animosity is that certain members of the Buddhist religious community in Myanmar have voiced reservation towards a company coming from the Middle East. However, this should be rather seen as a challenge than a problem and Ooredoo can certainly prove that successful business expansion will quickly overcome irrational concerns of a small minority.
 

Read More

  Recovery in German services sector
Jul , 07 , 2013  
  Germany’s service sector rebounded in June, with the Purchasing Managers Index rising to 50.4 from 49.7 in May, falling short of the market estimate of 51.3.
 

Read More

  Italy’s budget deficit widens in 1Q13
Jul , 07 , 2013  
  Italy’s budget deficit stood at 7.3% of GDP in 1Q13 due to an increase in expenditure. This is higher than the 6.6% level recorded in 1Q12.
 

Read More

  Copper futures fall on US jobs report
Jul , 07 , 2013  
  Copper futures declined on some upbeat jobs report from the US, reigniting fear among investors of an end to the US quantitative easing program. Copper futures for September delivery fell 3.5% to USD3.065 a pound on the NYMEX.
 

Read More

  Decline in natural gas futures on forecast of moderate temperatures
Jul , 07 , 2013  
  Natural gas futures decreased on forecasts of moderate temperatures across eastern US. Natural gas futures for August delivery declined 2.9% to USD3.583 per mBtu.
 

Read More

  Gold short-covering ran out of steam
Jul , 03 , 2013  
  Gold futures ended lower as the recent short-covering from its low of the year evaporated helped by strengthening U.S. Dollar against a group of major currencies. Gold futures for August delivery fell 1.0% to USD1,243.40 an ounce on the NYMEX.
 

Read More

  World Bank cuts growth forecast for Indonesia
Jul , 03 , 2013  
  The World Bank lowered its 2013 economic growth forecast for Indonesia to 5.9% from 6.2% earlier.
 

Read More

[First Page] [Prev] 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 [Next] [Last Page]

  
New Page 1
Privacy Statement

Copyright © 2012 LOTUS All Rights Reserved
Developed By Superlink