2014.1
GIC, Macquarie buy majority stake in Iglu
Singapore sovereign wealth fund GIC Pte Ltd and Macquarie Capital have formed a joint venture which has bought a majority stake in Iglu, an Australian student accommodation provider with a property portfolio worth about $132 million.
Qatar Navigation unit secures $425 mln ship financing
Qatar Shipping, a unit Qatar Navigation, has secured a 12-year, 1.55 billion riyals ($425.65 million) loan from a consortium of international banks, according to a bourse filing on Thursday.
Gulf’s economies to stay robust despite cheaper oil
Gulf Arab economies are likely to keep growing robustly over the next two years as government spending remains high, even though somewhat softer oil prices may cut into government revenues, a Reuters poll showed on Monday.
BAE progresses on Saudi deal, courts buyers for Eurofighter
Defence company BAE Systems said it was making progress on a deal with Saudi Arabia over the pricing for Eurofighter jets, and was seeking other buyers for the aircraft after the collapse of a potential sale to the United Arab Emirates.
Saudi Binladin’s construction products arm to file for IPO
Saudi Arabia’s Construction Products Holding (CPC) is planning an initial public offering (IPO) within months, possibly paving the way for more listings by family controlled Saudi companies.
Huge port project starts operating: Emaar
Emaar Economic City, a big Saudi real estate firm, has started operations at the country’s first privately owned port and will more than triple investment in the facility over the next five years, the company’s chief executive said.
Piggyback mobile service to launch in Q1: Saudi Mobily
Saudi Arabia’s Mobily will start leasing its mobile phone network to a new operator to launch a rival service in the first quarter, an executive said, kicking off the biggest shake-up in the kingdom’s telecommunications market in six years.
Emirates Steel seeks $1.3 bln loan to refinance debt, buy assets
Abu Dhabi’s Emirates Steel is in talks with banks for a $1.3 billion loan to help refinance an existing facility and raise cash to purchase assets from its parent firm, three banking and industry sources aware of the matter said on Wednesday.
Abu Dhabi investor to exit Mongolia bank after governance row
A foreign investor has moved to sever ties with Mongolia’s largest private lender, Golomt Bank, because of its concerns over the lender’s weak corporate governance standards, according to documents and a source familiar with the matter.
MAF to invest $816 mln in Dubai over 5 yrs
Dubai mall developer Majid Al Futtaim (MAF) said it will invest another three billion dirhams ($816.7 million) over the next five years to expand its business in the emirate, seeking to take advantage of a trade and tourism boom at its home base.