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Egypt’s Al Ahly football club mulls IPO
Al Ahly Sporting Club, Egypt's most decorated football club, is eyeing a potential IPO with 49 percent of the company's shares up for public offering, the company's chairman Yasin Mansour told Alarabiya.
The club's board of directors is…
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Saudi Jabal Omar Development Co. gets approval to restructure a $800m loan
Jabal Omar Development Co., got the Saudi ministry of finance approval to restructure the company’s remaining loans worth SR3 billion riyals, it said in a filing.
The restructuring deal includes the conversion of SR1.5bn of the total…
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Saudi Industrial Development Fund, Al Rajhi Bank partner for national industries growth
The Saudi Industrial Development Fund (SIDF) signed an agreement with Al Rajhi Bank to provide a documentary credit service, SPA reported.
The fund aims at stimulating the growth of national industries through the partnership with the…
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Barcelona, Man City drop club crypto sponsors amid concerns
Concerns about two cryptocurrency companies led to two of Europe’s leading soccer clubs, Barcelona and Manchester City, dropping short-lived sponsorship agreements on Friday.
Premier League champion City suspended a deal with 3Key…
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Dubai investor close to $600m deal with Saudi’s largest dental clinics
A Dubai-based investment company is nearing a $600 million deal to buy a majority stake in Saudi Arabia’s largest provider of dental and dermatology care, Bloomberg reported citing people familiar with the matter.
Gulf Islamic…
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Gold falls as the dollar rises after strong US retail sales data
Gold prices fell, on Tuesday, from their highest levels in more than five months, with the rise of the dollar after strong data on US retail sales for the month of October, making the precious metal more expensive for holders of other…
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America is using millions of barrels of strategic oil reserves as prices rise
Data from the US Energy Information Administration revealed today, Wednesday, that the government has withdrawn 3.2 million barrels, during the past week only, from the strategic oil reserve, as crude prices remained near their highest…
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Russian-Emirati cooperation in the development of hydrogen technologies
The Russian Ministry of Industry and Trade signed with the UAE Ministry of Industry and Advanced Technologies a memorandum of understanding aimed at strengthening industrial cooperation in the development of hydrogen technologies.
This…
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Turkish lira collapses again after Erdogan vows to fight interest rates
Statements by Turkish President Recep Tayyip Erdogan, on Wednesday evening, in which he pledged to fight interest rates, led to a new decline of the Turkish lira by 2.5 percent.
Erdogan vowed earlier in the day to continue his fight…
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BlackRock sees coal, oil power projects facing investment challenges
Coal and oil-fired power generation projects will find it difficult to secure investments, BlackRock Inc. Managing Director Eduard Ruijs said on Wednesday.
Natural gas-fired power plant projects could find investments, he told an energy…
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