Saudi Regulator Halts Trading In Telcos Mobily And Zain Saudi

Mobily and Zain Saudi are embroiled in a money dispute.

Stock News: Saudi Petrochemicals Stocks Lead Riyadh Rebound

Oil prices rebounded three to four per cent after touching five-year lows on Monday.

Dubai World Debt Deal Gets 70% Creditor Agreement So Far

The entity has been in talks to extend the maturity of the largest single repayment under a $25 billion debt restructuring agreement.

Gulf Markets Stabilise After Panic Sell-Off

Brent crude fell nearly $2 a barrel to a five-year low below $68 in early trade on Monday but then pared some losses and climbed towards $70.

Saudi Regulator Suspends Deloitte From Auditing Listed Firms

A circular from the Capital Market Authority said the suspension was due to a case involving an unidentified firm and would stay in place until its conclusion.

Doha Bank Shareholders Approve India Assets Buy

HSBC Bank Oman said in April it had agreed to the sale of its Indian business to Doha Bank.

Stock News: Gulf Markets Choppy; Zain Saudi Plunges

Oil fell nearly $2 a barrel in Asian trade on Monday and both U.S. crude and Brent have fallen for five straight months.

Gulf Stock Markets Bleed After OPEC Lets Oil Slide

Saudi Arabia’s bourse took the biggest hit, dropping 4.8 per cent to 8,625 points, its lowest close since early January.

Saudi’s Sipchem Says Proposes Dividend Of SAR0.65 For H2 2014

Sipchem’s proposed dividend is in line with what it paid in the corresponding period of 2013.

NBAD, HSBC, National Bank Of Egypt Arrange $1.5bn Loan For Egypt’s State Oil Company

The deal is a three year loan facility with each bank arranging $500 million of the loan, NBAD said in a statement.

Oman Raysut Cement Says 2015 Costs To Rise 3% On Gas Price Hike

Raysut will try offset the impact of higher gas prices by making other cost reductions, improving efficiency and restructuring its own prices, according to a bourse filing.

Middle East Wealth Funds To Actively Invest In 2015

Sovereign wealth funds in the region are investing more in emerging markets such as Africa and China as they shift away from Western markets.

Saudi Builder Khodari Hires Advisor For SAR500m Rights Issue

The builder announced the proposed rights issue last Tuesday, saying it will use the money to expand its business.

UAE Dirham Will Remain Pegged To US Dollar – Central Bank

The regulator denied reports that the country was studying the feasibility of continuing the peg between the dirham and the US dollar.

Stock News: Saudi Down To 11-Month Low, Dubai Falls To Five-Month Low After Oil Price Plunge

Brent crude prices have fallen about 10 per cent since regional equity markets last traded on Thursday.

HSBC Oman Says In Talks With Meezan Bank To Sell Pakistan Unit

HSBC Oman, 51 per cent owned by London-listed HSBC, said talks were preliminary and may or may not lead to a sale.

Egypt Repays $2.5bn Deposit To Qatar

The payment brings the amount Egypt has returned to Qatar to $6 billion, leaving $500 million outstanding.

Dubai’s Meraas Says Share Sale To Professional Investors Well Covered

Dubai Parks and Resorts, a unit of Meraas Holding, is selling 40 per cent of its shares.

UAE May Create Body To Monitor FX Peg, No Policy Change Likely

Since 1997, the UAE dirham has been fixed at a rate of 3.6725 to $1.

Dubai World Sets Meetings To Put New Deal To All Creditors

Meetings will take place in London on Dec. 1 and Dubai on Dec. 8.

UAE Dirham Falls To One Year Low Against Dollar In Forwards Market

The dirham is pegged to the dollar at 3.6725 and is trading in the spot market at 3.6730.

Ex Arabtec CEO Plans Sale Of Remaining Stake, Seeks Premium Price

A stock market announcement on Nov. 11 said Aabar had become Arabtec’s largest shareholder after hiking its stake to 34.93 per cent through the purchase of shares from Ismaik.

HSBC To Refund UAE, Oman, Bahrain Customers For Excessive Fees

The lender said it charged them excessive foreign currency fees on debit and credit card transactions.

Commercial Bank Of Qatar Group CEO Resigns, Appointed Board Advisor

Andrew Stevens had been with CBQ, Qatar’s second-largest lender by assets, for 25 years.

Dubai’s Amlak Finance Signs Financial, Debt Restructuring Deal

The Islamic mortgage lender has been negotiating with creditors to finalise the deal, which was approved by shareholders in September.

UAE Regulator Expects Three More Firms On Secondary Market By Mid-2015

Abu Dhabi-based firms The National Investor and Manazel Real Estate became the first companies to begin trading on the platform.

Dubai’s Noor Bank Eyes Turkish Growth To Beat Competition

The bank has arranged syndications for Turkish borrowers worth more than $4.5 billion since 2010, including more than $2.1 billion in the past 18 months.

Stock News: Egypt, Saudi Slide; Funds Start Buying In UAE, Qatar

Bourses in the UAE and Qatar began recouping early-session losses as stocks whose weightings in MSCI’s emerging markets index are set to increase topped trading volumes.

Saudi Builder Al Khodari Proposes $133m Capital Hike

The capital increase will require the approval of the bourse regulator and an extraordinary shareholder meeting, a bourse statement said.

UAE’s Topaz Plans To Raise $550m Loan To Fund Expansion

The company plans to use the proceeds to refinance an existing $380 million loan package at a lower interest rate and to provide cash for potential expansion.