Davide Barbuscia

'Financial surrealism': Lebanese opt for beer over banks

Jun 17 2021

BEIRUT Faced with the choice of leaving their savings stuck in the bank or investing them at a huge loss, some Lebanese people are opting to take a punt. For them, it's the only sensible option in a financial system warped by crisis.

Lebanon's banks stuck in reverse: jobs go, lending dives

Jun 17 2021

BEIRUT Lebanon's banks, which once powered the economy by sucking in billions of dollars of deposits from abroad, are shedding staff, watching loan books shrink and chasing liquidity to stay afloat.

Analysis-Investors forgiving as Oman's austerity drive hits bumps in the road

Jun 02 2021

DUBAI Oman may be rowing back on an austerity plan to fix its shaky finances in the face of protests over unemployment but investors are cutting the Gulf state's new ruler some slack for now.

Exclusive-Qatar Petroleum hires banks to run 'jumbo' bond sale in June

May 31 2021

DUBAI Qatar Petroleum (QP) has hired international banks for a multi-billion dollar debut public bond sale by the end of June, two sources said, as lower oil and gas prices prompt Gulf energy firms to raise cash.

MIDEAST DEBT-UAE sukuk standards slow issuance, distort prices, investors say

May 31 2021

DUBAI, May 31 The adoption by the United Arab Emirates of certain sharia-compliance standards has slowed the issuance of Islamic bonds from the Gulf, adding to a chronic supply-demand imbalance, market sources said.

Jobs, not promises: Omanis protest for fourth day

May 26 2021

DUBAI Citizens of Oman took the streets on Wednesday for a fourth day of demonstrations, braving a heavy security presence to demand that the country's ruler follow through on promises to create thousands of jobs.

Oman orders speedier job creation amid protests over unemployment

May 25 2021

DUBAI Groups of Omanis demanding jobs held fresh protests on Tuesday, activists said, in the biggest challenge yet to the Gulf state's new ruler, who ordered the government to accelerate plans to create thousands of jobs.

Abu Dhabi judge rules in favour of Dubai Islamic Bank in NMC case

May 25 2021

DUBAI A judge in Abu Dhabi ruled in favour of Dubai Islamic Bank and against the administrators of NMC, in a case that could complicate the private healthcare firm's multi-billion-dollar debt restructuring.

CORRECTION-(OFFICIAL)-UPDATE 3-Saudi Arabia to widen privatisation scope, finance minister says

May 24 2021

DUBAI/RIYADH, July 22 Saudi Arabia will look to sell assets in sectors not previously considered for privatisation, the country's finance minister said on Wednesday, as the country contends with the economic impact of sustained low oil prices.

Bondholders hire Rothschild to help oppose Dubai fund revamp -sources

May 23 2021

DUBAI A group of creditors has hired financial adviser Rothschild and law firm Clifford Chance to help oppose the terms of a proposal by Dubai-listed Emirates REIT to exchange $400 million in Islamic bonds for new instruments, sources said.

World News