The OPEC member’s fiscal surplus is forecast to narrow to 9.3 per cent of GDP in 2014.
Arabtec confirmed on Tuesday that it had laid off a “limited number” of staff to improve productivity.
The deal will see the light rail system starting to operate in 2018-20 in Lusail City.
Mark Watts, who joined the bank in 2010, resigned for personal reasons, sources said.
The company’s stock fell its daily limit of 10 per cent for a second session in a row.
One-year dollar/Saudi riyal forwards jumped as high as 50.50 points, their highest level since the Arab Spring uprisings hit the Middle East in March 2011.
The transaction is earmarked to price in the area of six per cent, a document from lead arrangers showed.
The delay in the start-up of the plant was due to construction work falling behind the original timetable, a statement to the Saudi stock market said.
The stake will be sold to Labregah Real Estate Co, a wholly owned subsidiary of Qatari Diar, the developer said in a statement on Qatar’s bourse.
The purchase of Vela paves the way for a deal which makes Bahri the world’s fourth-largest owner of very large crude carriers (VLCCs).
Al Suwadi Power Co and Al Batinah Power Co, each offered a 35 per cent stake to the public in offerings worth a combined $162.9 million.
As per the deal, bonds can be listed and traded through the exchange by local and international investors, with NBAD using its account with Euroclear to process the transactions.
The investment will be conducted through Egypt’s International Company for Agro-Industrial Projects.
Gulf Arab allies have sent billions of dollars in aid to Egypt after Mursi’s fall, which analysts say saved the country from bankruptcy.
Nomura Asset Management and Lazard Asset Management have opened new offices in Dubai this year.
Qatar’s central bank chief Sheikh Abdullah said future sales of government bonds with longer maturities would depend on both liquidity conditions and investor demand.
Hasan Ismaik who resigned from Arabtec on Wednesday, holds a 28.85 per cent stake in the company.
Al Rajhi is the Kingdom’s biggest listed lender and the world’s largest Islamic bank,
The loan has a lifespan of 15 years but there is a grace period of ten years before repayments begin, a statement to Riyadh’s bourse said.
The transaction, which will boost the bank’s Tier 2 – or supplementary – capital, will support Banque Saudi Fransi’s capital base and future growth.
Under the proposed new arrangement, the Reserve Bank of India would buy the dollars from authorised currency dealers, instead of the Indian oil buyers tapping the currency market.
According to the report, 3.3 per cent of UAE households hold private wealth of at least $1million.
The company confirmed the appointment of Mohamed Al Fahim as Arabtec’s acting CEO for an unspecified “temporary period”.
Dubai builder Arabtec’s share price plunged as much as 50 per cent in the last six weeks.
A new survey finds that a quarter of finance professionals said that lack of career progression was one of the main reasons for changing jobs.
The country’s net foreign assets are currently worth about $730 billion.
RAKBANK, rated BBB-plus by Fitch, attracted books of over $1.5 billion for its offer.
The lender has gathered more than $2.25 billion in orders for its bond sale so far.
The lender has mandated Bank of America-Merrill Lynch, HSBC and Morgan Stanley to arrange the bond sale.
The lender expects to price a deal this week, a document from lead managers said.