Market Updates - 31 Jan
Egypt
Egypt's ruling military council lays out rules governing upcoming presidential elections
Companies will be sold to the private sector along strict professional guidelines, Planning Minister says
Egypt trims 3 and 5-year bond sale as yields climb
Majority of Islamist parties in Egypt to boycott a protest planned today
OTH asks Egyptian Exchange to lift suspension of conversion of GDRs into shares and vice versa
Citadel Capital appoints Hatem Saleh as CEO of Gozour’s dairy division
Saudi Arabia
SAMA to play bigger role in financial supervision
Saudi Arabia to cover any oil shortages
Kingdom seeks negotiated solution to Syria crisis
Al Khodari signs partnership agreement with Balfour Beatty and Saudi Kier for railway project bid
UAE
Central Bank will cap credit card interest rate in 2012
New Dubai passenger terminal in operation by next year
Plan approved for 100 new and refurbished schools in Abu Dhabi
Air Arabia CEO warns company could raise fuel surcharge if jet fuel prices rise
DP World says it handled 54.7 TEU container units in 2011, +10.3% y-o-y
Dubai Investments FY2011 net profit declines 74.9% on drop in asset values
Abu Dhabi said to be in talks to divest Mubadala’s Aldar Stake, a claim denied by Mubadala
FGB releases strong FY2011 results, beating estimates, positive surprise on the dividends side
NBAD to release FY2011 results today
Qatar
Iran, Qatar discuss customs cooperation
Qatar weighs value-added tax proposal
QCB launches centralised gateway for e-payment
Oman
Al Jazeera Steel FY2011 profits surge
Majan Glass FY2011 profits decline, misses estimates
OIB earns OMR18 million in FY2011, up 2% y-o-y
Bank Muscat continues capital raising spree with plans for OMR150 million private placement
Al Ahli Bank FY2011 profit rises 29% y-o-y to OMR18.2 million, board approves acquisition of Middle East Brokerage Co. at 1x book
Nawras releases preliminary financial results for 4Q2011, net profit stagnant y-o-y at OMR11.9 million
Bahrain
Bahrain attracted USD300 million in 2011