Edition:
United Kingdom

Davide Barbuscia

Aramco picks banks for debut international bond: sources

14 Feb 2019

DUBAI Saudi Aramco has selected banks to arrange its first international debt sale, which will help it finance the acquisition of a stake in Saudi Arabian Basic Industries Corp (SABIC), two sources familiar with the matter said on Thursday.

Saudi court rejects AHAB’s filing under bankruptcy law

13 Feb 2019

DUBAI/RIYADH, Feb 13 A commercial court in Dammam has rejected an application by the conglomerate Ahmad Hamad Algosaibi and Brothers (AHAB) to settle its debt under a new Saudi bankruptcy law, AHAB told Reuters on Wednesday.

IMF sees no credit crunch in Oman, advises speedy fiscal reforms

12 Feb 2019

DUBAI, Feb 12 Oman is not facing a credit crunch but the Gulf Arab oil producer should speed up implementation of fiscal reforms like the introduction of a value-added tax (VAT), an IMF official said.

REFILE-Lebanon has not asked for IMF programme, IMF official says

11 Feb 2019

DUBAI, Feb 11 Authorities in Lebanon, which has one of the world's highest debt to GDP ratios, have not asked the International Monetary Fund to provide funding, the IMF's regional head told Reuters on Monday.

Saudi Arabia would need oil at $80-$85 a barrel to balance budget: IMF official

11 Feb 2019

DUBAI Top oil exporter Saudi Arabia would need oil priced at $80-$85 a barrel to balance its budget this year, an International Monetary Fund official said.

IMF Lagarde says oil exporters have not fully recovered from oil shock, cautions against 'white elephant projects'

09 Feb 2019

DUBAI Oil exporters have not fully recovered from the dramatic oil price shock of 2014, the head of the IMF said on Saturday, and she cautioned against spending money on "white elephant projects".

Etihad approaches banks for over $500 million for Boeing deliveries - sources

06 Feb 2019

DUBAI Abu Dhabi’s Etihad Airways has approached banks to raise over $500 million (386 million pounds) to finance four Boeing 787 Dreamliners it previously ordered, two sources familiar with the matter said.

UAE releases $496 million frozen funds, ending Kuwait dispute

05 Feb 2019

DUBAI A dispute between Dubai and Kuwait appeared to have ended on Tuesday as the United Arab Emirates' central bank authorized the release of $496 million which had been frozen at Dubai's state-owned Noor Bank since late 2017.

Exclusive: Abu Dhabi expected to extend bailout loan to Dubai, sources say

05 Feb 2019

ABU DHABI/DUBAI, Abu Dhabi is expected to roll over for the second time $20 billion (15 billion pounds) of debt, due next month, that it extended to Dubai during its financial crisis a decade ago, three sources familiar with the matter said.

Oman Aviation seeks adviser for multi-billion financing - sources

04 Feb 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.

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