Egypt is losing ground as a top haven for emerging market debt investors, and interest rate cuts could make its short-term treasuries less attractive to foreign buyers in coming months, a report by CI Capital Asset Management said yesterday.
Thousands of people attended the first day of an auction of vehicles owned by indebted Saudi Arabian tycoon Maan al-Sanea and his company, a sale which officials say will go towards repaying about 18bn riyals ($4.8bn) owed to creditors.
Qatar’s leading project management consultancy Astad won a special recognition award for their product ‘Sanad’, the integrated suite of contracts, at the ‘Construction Week Oman Awards’ recently held in Muscat.
The pound rose yesterday after Britain and the EU reached a landmark deal on a two-year transition after Brexit that will buy businesses and citizens time to adjust to life after the divorce.
Alibaba Group Holding said it will invest an extra $2bn in Southeast Asian e-commerce firm Lazada Group and tapped a top executive to run the business, as it takes on rivals such as tech titan Amazon in an aggressive expansion in the region.
Two units of Standard Chartered Bank were fined in Singapore yesterday a total of $4.9mn for breaches of the city-state’s law against money laundering and terrorism financing.
China elevated a key confidante of President Xi Jinping to one of the top positions in government yesterday as Beijing cracks down on riskier financing and a debt build-up that may pose systemic risks to the world’s second-largest economy.
Sherborne Investors, led by activist investor Edward Bramson, has taken control of a 5% stake in Barclays, cheering other shareholders who hope the move could herald a shake-up of the British bank.
European Central Bank policymakers are shifting their debate to the expected path of interest rates as even some of its most dovish rate setters accept that lucrative bond buys should end this year, sources close to the discussion said.
Qatar Life and Medical Insurance Company (QLM), a wholly-owned subsidiary of Qatar Insurance Company, has expanded its network of medical service providers in Russia, which is the host of this year’s FIFA World Cup.
Global bond issuances were worth above $1.15tn in 2018. Major issuances came from the Federal Republic of Germany, the European Investment Bank and CVS Health Corp.