United Arab Emirates
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As American defense companies prepare to feel the ill effects of the sequester on their bottom lines, the companies are increasingly looking to court new customers abroad.
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DUBAI, Oct 11- Limitless, the indebted property arm of Dubai World, has reached an agreement with creditors to restructure a $1.2 billion Islamic loan, the company said on Thursday. Limitless will also shortly commence a procees to transfer ownership of itself to the Dubai government from conglomerate Dubai World, it said in a statement.
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*Middle East allocated much more of sukuk than expected. DUBAI, Oct 11- Turkey's first sovereign sukuk issue was a public relations triumph but it's been a financial disappointment so far in the secondary market, showing the risks of over-allocating debt deals to a single region.
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DUBAI, Oct 11- Qatar International Islamic Bank launched a $700 million sukuk on Thursday, arranging banks said, at the lower end of revised price guidance in a reflection of healthy demand for the deal. HSBC, Standard Chartered and QNB Capital. QIIB's sukuk would follow an issue from Qatar Islamic Bank.
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Oct 11- Money supply in the United Arab Emirates grew 2.6 percent year-on-year at the end of August, ending a series of four straight monthly declines, central bank data showed on Th u rsday. Bank lending growth in the world's No. 3 oil exporter edged down to 3.2 percent year-on-year in August from a seven-month peak of 3.7 percent in July, the data also showed.
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DUBAI, Oct 11- Qatar International Islamic Bank will issue a $700 million sukuk on Thursday, arranging banks said, and has revised earlier price guidance in a reflection of healthy demand for the deal. HSBC, Standard Chartered and QNB Capital. QIIB's sukuk would follow an issue from Qatar Islamic Bank.
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Oct 11- The United Arab Emirates central bank's foreign currency assets rose to 189.1 billion dirhams in August from 186.8 billion in the previous month, mainly because of a rise in holdings of foreign securities, its data showed on Thursday. UAE C.BANK FOREIGN CURRENCY ASSETS AUG 2012 JULY 2012.
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KUWAIT, Oct 11- Morocco's King Mohammed plans to tour Gulf Arab countries in the next few weeks to discuss investment and bilateral relations, a senior Kuwaiti official said on Thursday. King Mohammed will travel to countries in the Gulf Cooperation Council, which comprises Saudi Arabia, the United Arab Emirates, Kuwait, Bahrain, Qatar and Oman, Jarallah said.
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KUWAIT, Oct 11- Morocco's King Mohammed plans to tour Gulf Cooperation Council countries in the next few weeks to discuss investment and bilateral relations, a senior Kuwaiti official said on Thursday. King Mohammed is expected to visit Kuwait as part of the tour in October or November, he said.
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DUBAI, Oct 11- Yemen's only liquefied natural gas terminal began exporting LNG again this week, ship tracking data showed on Thursday, after being forced to shut when its feed pipeline was blown up in late September.
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FRANKFURT, Oct 11- Abu Dhabi's sovereign wealth fund Aabar sold the remainder of its 3.07 percent stake in Daimler on Oct. 5, the German automotive group said in a regulatory filing on Thursday.
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*Euro crisis has hit Morocco hard. KUWAIT/ RABAT, Oct 11- Morocco's King Mohammed will make a rare tour of Gulf Arab countries before the end of the year as his cash-strapped government tries to drum up investor interest in a sovereign bond.
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SINGAPORE, Oct 11- U.S. crude steadied above $91 a barrel on Thursday, as traders balanced escalating geopolitical risks with signs of weakening global oil demand. nudged up six cents to $91.31 a barrel in early Asia trading, after dropping more than a dollar the previous session.
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NEW YORK-- Shares of basmati rice seller Amira are rising in their first day of trading Wednesday on the New York Stock Exchange after the company raised $90 million in an initial public stock offering. Amira Nature Foods Ltd., which is based in the United Arab Emirates, sells packaged rice grown in India in more than 40 countries.
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*Qatar banks attract global bankers with pay, security. DUBAI, Oct 10- Qatar is luring high-profile bankers away from foreign firms by offering better pay and prospects, as the cash-rich Gulf state builds the talent needed to expand its financial footprint across the region.
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KUWAIT, Oct 10- In a luxury hotel suite, away from prying eyes, twenty Kuwaiti female guests at a traditional wedding party segregated by the sexes watch the men via a video link. "The most important thing now is getting a university degree," said Noora al-Jaber, 28, who married seven years ago.
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DUBAI, Oct 10- Banque Saudi Fransi:. *Q3 net profit 662 million versus 760 million riyals year-ago- statement. *Says Q3 profit drop 12.9 percent versus year-ago.
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DUBAI, Oct 10- J.P. Morgan Chase Inc has hired Ahmed Saeed from Nomura Holdings to head up its Middle East business focused on public sector clients, the U.S. bank said in a statement on Wednesday.
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DUBAI, Oct 10- Qatar International Islamic Bank. HSBC, Standard Chartered and QNB Capital. QIIB's sukuk would follow a sukuk issue from Qatar Islamic Bank last week, which raised $750 million at a profit rate of 2.5 percent.
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DUBAI, Oct 10- Frontier Resources International Plc has signed an exploration and production sharing agreement with the Omani government for a 100 percent interest in Oman's Block 38, Frontier said in a statement on Wednesday. The EPSA runs for six years on the Mudayy Block, covering an area of 17,425 square kilometres in the Dhofar region of southwest Oman.
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DUBAI, United Arab Emirates-- Flights were snarled at the Middle East's busiest airport in Dubai early Wednesday after a backup system needed to deal with heavy fog failed, forcing airlines to divert dozens of planes.