Edition:
United States

Saeed Azhar

UPDATE 1-Abraaj exposure drags Air Arabia to a $166 mln 2018 loss

Feb 14 2019

DUBAI, Feb 14 Air Arabia suffered a 609.5 million dirham ($166 million) loss in 2018 as it took impairments on its exposure to collapsed private equity firm Abraaj, knocking its shares on Thursday as analysts said its dividend could be hit.

Qatar revamps investment strategy after Kushner building bailout

Feb 13 2019

LONDON/NEW YORK/DUBAI When news emerged that Qatar may have unwittingly helped bail out a New York skyscraper owned by the family of Jared Kushner, Donald Trump's son-in-law, eyebrows were raised in Doha.

Qatar revamps investment strategy after Kushner building bailout

Feb 11 2019

LONDON/NEW YORK/DUBAI When news emerged that Qatar may have unwittingly helped bail out a New York skyscraper owned by the family of Jared Kushner, Donald Trump's son-in-law, eyebrows were raised in Doha.

INSIGHT-Qatar revamps investment strategy after Kushner building bailout

Feb 11 2019

* Jared Kushner an ally of Saudi prince who led Qatar boycott

Insight: Qatar revamps investment strategy after Kushner building bailout

Feb 11 2019

LONDON/NEW YORK/DUBAI When news emerged that Qatar may have unwittingly helped bail out a New York skyscraper owned by the family of Jared Kushner, Donald Trump's son-in-law, eyebrows were raised in Doha.

INSIGHT-Qatar revamps investment strategy after Kushner building bailout

Feb 11 2019

* Jared Kushner an ally of Saudi prince who led Qatar boycott

MIDEAST STOCKS-Saudi slides on weakness in blue-chips, UAE hit by property woes

Feb 10 2019

* Saudi loses momentum on banking, petrochemical shares * Telco, Industries Qatar weigh on Qatari stocks * Aldar, First Abu Dhabi Bank suffer in Abu Dhabi * DAMAC down 3.2 percent, weighing on Dubai By Marwa Rashad and Saeed Azhar RIYADH/DUBAI, Feb 10 Most Gulf markets fell on Sunday, led by Saudi and Qatari stocks, as investors cut positions in blue-chip stocks after last week's weakness in global stocks amid lingering uncertainty about the world economy. Saudi stocks began the day on a positive note after a rally in construction and cement stocks following a royal decree to reimburse rising expatriate fees that will help labour-intensive sectors. But weakness in key banking and petrochemical shares quickly changed investor sentiment. The benchmark index ended 0.5 lower with Al Rajhi Bank down almost 1 percent and Saudi Basic Industries off by a similar margin. Christine Lagarde, managing director of the International Monetary Fund, said on Saturday oil exporters have not fully recovered from the oil price shock of 2014. However, news of the royal decree on expat fees still lifted shares of cement and construction companies. Eastern Province Cement ended almost 1 percent higher, Arab Cement rose 1.9 percent and construction firm AlKhodari added 0.6 percent. The Saudi government is allocating 11.5 billion riyals ($3.1 billion) under a scheme that reimburses some companies who struggled to pay steadily increasing fees for expatriate work permits in 2017 and 2018 and waives the hikes for some unable to pay. Qatar's index, one of the world's best performing markets last year, fell 0.6 percent with market heavyweight Industries Qatar dropping 0.7 percent and Vodafone Qatar down 1.8 percent. Abu Dhabi shares were hit by selling in Aldar Properties which ended 1.9 percent lower and First Abu Dhabi Bank which dropped 0.9 percent. Dubai was dragged down by DAMAC Properties , which dropped 3.2 percent. The firm has been hit hard by the property downturn in Dubai. EFG Hermes expects DAMAC to report a net profit of 214 million dirhams ($58.28 million) in the fourth quarter, more than half what it reported in the same quarter in 2017. SAUDI ARABIA The index lost 0.5 pct to 8,573 points DUBAI The index shed 0.5 pct to 2,530 points QATAR The index fell 0.6 pct to 10,441 points ABU DHABI The index slid 0.6 pct to 5,082 points EGYPT The index ended flat at 14,764 points KUWAIT The index was flat at 5,442 points OMAN The index was up 0.2 pct at 4,158 points BAHRAIN The index fell 0.6 pct to 1,410 points ($1 = 3.6405 Qatar riyals) ($1 = 3.6726 UAE dirham) (Editing by Andrew Cawthorne)

Oman Aviation seeks adviser for multi-billion financing - sources

Feb 04 2019

DUBAI, Feb 4 Oman Aviation Group, a government entity in charge of investments in the country's civil aviation sector, is seeking an adviser for debt financing of around $5 billion, two sources familiar with the matter said.

UPDATE 1-Actis pushes for investor vote on Abraaj fund takeover

Jan 31 2019

DUBAI, Jan 31 British private equity firm Actis plans to instigate an investor vote from next week on its proposed takeover of one of Abraaj's biggest funds, seeking indemnity from potential legal claims against the Dubai buyout group, said a source close to Actis.

Actis hits stumbling block in bid for Abraaj fund -sources

Jan 31 2019

DUBAI, Jan 31 British private equity firm Actis has hit a stumbling block in its bid to take over one of Abraaj's biggest funds as it seeks indemnity from future potential legal claims against the Dubai buyout group, three sources close to the matter told Reuters.

World News