by Asharq Al-Awsat | Oct 21, 2009 | Business
WASHINGTON, (AFP) — The International Finance Corp., a wing of the World Bank, said Wednesday it would list its first Islamic bond in the Middle East. The IFC Hilal Sukuk, a greenback-denominated 100 million dollar issue with a five-year maturity, will be listed with...
by Asharq Al-Awsat | Oct 20, 2009 | Business
RIYADH, (Reuters) – Saudi-based Kingdom Holding, controlled by billionaire Prince Alwaleed bin Talal, posted a 53.7 percent drop in third-quarter net profit after it made losses on the sale of stakes in local listed firms. Kingdom, which is one of the largest...
by Asharq Al-Awsat | Oct 20, 2009 | Business
RIYADH, (Reuters) – Power utility Saudi Electricity 5110.SE said it would borrow from banks and use Islamic bond to help finance a 6.88 billion riyals ($1.84 billion) contract signed on Tuesday. The Gulf’s largest utility by market value signed the...
by Asharq Al-Awsat | Oct 20, 2009 | Business
KUWAIT CITY (AFP) – OPEC member Kuwait plans to spend 18 billion dinars (63 billion dollars) over the next four years on 250 massive projects, a newspaper reported on Tuesday. The projects are included in a four-year programme approved by the cabinet on Monday and...
by Asharq Al-Awsat | Oct 19, 2009 | Business
RIYADH, (AFP) — Saudi petrochemicals giant Sabic said Sunday it doubled earnings in the third quarter against the previous period as the global economy bottomed out and its product prices surged on higher oil prices. Saudi Basic Industries Corp., the Gulf’s...
by Asharq Al-Awsat | Oct 19, 2009 | Business
RIYADH (Reuters) – Saudi-based Savola Group is in talks to buy British sugar refiner and sweetener group Tate and Lyle Plc’s stakes in sugar refineries in Egypt and Saudi Arabia, a Savola executive said on Monday. The talks are about Tate &...
