2013.10
Dubai wants to be centre for Islamic business
Dubai unveiled plans on Saturday to become a centre for business that follows Islamic principles in areas from banking and insurance to food processing, tourism and education.
Dubai govt firm to refund $24.3 mln to developer
A Dubai government-owned firm will refund $24.3 million to a property developer after a land deal turned sour, in a case at a special tribunal set up to settle claims against Dubai World that could help restore investor confidence in the emirate.
Citi, Qatar bank stall Al Jaber’s $4.5 bln debt talks
Citigroup Inc and International Bank of Qatar (IBQ) are holding up negotiations to restructure $4.5 billion in debt of Abu Dhabi conglomerate Al Jaber Group, further complicating drawn-out talks, three sources familiar with the matter said.
Global fund firms fret over new UAE fee structure
International funds selling investments in the UAE plan to lobby financial regulators to ease new product registration fees which they complain are much higher than the charges on local operators, and could run into tens of thousands of dollars.
Petronas to spend $35 bln on Canadian LNG project
Malaysia’s state oil firm Petronas plans to spend $35 billion to develop shale gas assets in Canada and build a liquefied natural gas (LNG) export terminal linking the country to energy hungry Asian markets, company officials said.
True Corp infra fund listing to raise up to $2.55 bln
Shareholders of True Corp PCL have voted to list an infrastructure fund to raise 60 billion to 80 billion baht ($1.92 billion to $2.55 billion) to help pay some of the Thai telecommunications group’s $3.3 billion debt.
Indonesia raises 20.2 trln rph from retail bonds
Indonesia raised 20.2 trillion rupiah ($1.75 billion) from a retail bonds issue, slightly above than an indicative target of 20 trillion rupiah, the debt office said on Monday.
CP Land to raise $319 mln with property fund sale
The Thai real estate company controlled by Charoen Pokphand Group (CP) plans to raise about 10 billion baht ($319 million) with the sale of a property fund next month, the company said in a statement on Monday.
JG Summit plans to borrow $1.2 bln for Meralco buy
Philippine conglomerate JG Summit Holdings Inc plans to raise around 50 billion pesos ($1.2 billion) via bank loans and debt issuance to finance its acquisition of 27 percent of Manila Electric Co, JG Summit President Lance Gokongwei said.
Philippines Travellers International sets IPO price guidance
The Philippines’ Travellers International Hotel Group Inc has set an indicative IPO price of 10.65 to 11.88 pesos per share as it looks to raise as much as $499 million, or about half of what it had initially planned from the share offer.