Edition:
United Kingdom

Tom Arnold

CORRECTED (OFFICIAL)-Hungary targets 4 pct GDP growth unless EU outlook darkens - ministry official

2:47pm GMT

LONDON, Feb 14 Hungary is targeting growth of 4 percent in 2019 and 2020, but if a sharp slowdown in the European Union's broader economy were to see that target missed, it will still outpace the bloc by 2 percentage points, a Hungarian Finance Ministry official said.

Franklin Templeton, Actera eyeing Abraaj's Turkey funds: sources

11 Feb 2019

DUBAI/ISTANBUL U.S. fund manager Franklin Templeton and Turkish private equity firm Actera are among the bidders in talks to take control of Abraaj's Turkish assets after negotiations with other buyers faltered, two sources familiar with the deal said.

UPDATE 1-Six Flags Dubai theme park put on hold as funding withdrawn

06 Feb 2019

DUBAI, Feb 6 DXB Entertainments PJSC said on Wednesday that the Six Flags theme park in Dubai had been put on hold as the financing for the project was no longer available.

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

31 Jan 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

31 Jan 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.

Three Abu Dhabi lenders agree to create $114 billion bank

29 Jan 2019

DUBAI/ABU DHABI Abu Dhabi Commercial Bank, Union National Bank and Al Hilal Bank agreed a merger on Tuesday to create the third-largest bank in the United Arab Emirates.

ADCB's chairman, CEO to fill top positions in new Abu Dhabi merged bank: sources

28 Jan 2019

ABU DHABI/Dubai Abu Dhabi Commercial Bank's chairman and chief executive will fill the top positions within the company to be created after the merger with Union National Bank and Al Hilal Bank, three sources aware of the merger said.

Qatar National Bank hires arrangers for U.S. dollar bond: sources

28 Jan 2019

LONDON/DUBAI Qatar National Bank (QNB), the largest lender by assets in the Middle East and Africa, is planning to issue U.S. dollar-denominated bonds and has hired banks to arrange the debt sale, sources familiar with the matter said.

Qatar banks weigh U.S. dollar bond issuance from Q1 onwards -sources

24 Jan 2019

DUBAI, Jan 24 Qatar banks are expected to issue U.S. dollar bonds from this quarter onwards, hoping to take advantage of any easing in global volatility casued by geopolitical tensions, three sources familiar with the matter said.

RPT-Gulf Capital credit fund halts investments after staff departures -sources

24 Jan 2019

DUBAI Jan 23 Gulf Capital is hiring investment staff after several senior departures in recent months, including two that sources close to the matter said have forced the Middle East private equity firm's credit fund to suspend new investments.

World News

Trump declares U.S.-Mexico emergency for border wall

President Donald Trump on Friday declared a national emergency in a bid to fund his promised wall at the U.S.-Mexico border without congressional approval, an action Democrats vowed to challenge as a violation of the U.S. Constitution.