Contact to sell $83 mln in securitized notes
CAIRO: Egyptian car purchase financer Contact on July 7 is selling LE 470 million ($83 million) in bonds securitizing expected car payments, the chief underwriter said on Monday. The bond,…
Stevie Wonder cheers up Glastonbury after football failure
Motown legend Stevie Wonder made sure Glastonbury's 40th anniversary came to a joyful end on Sunday despite England's disheartening World Cup football defeat. The American soul pioneer treated the audience…
Comeback night at BET Awards
It was comeback night at the BET Awards. Kanye West opened Sunday's show in his first TV appearance since dissing Taylor Swift at last year's MTV Video Music Awards. T.I.…
Documentary probes chronic failures of US public schools
Record dropout rates, demoralized teachers, parents forced to enter a drawing to get their kids enrolled: Davis Guggenheim's portrait of US public schools is a sobering one. "Schools are not…
Dubai's Arabtec eyes contracts in new mkts, says CEO
DUBAI: Dubai construction heavyweight Arabtec is focusing on winning projects in new markets following the downturn in Dubai and does not require any additional funding, its chief executive said on…
Iran cbank says has sold gold to boost reserves
TEHRAN: Iran increased its foreign currency reserves by $9 billion by selling sold gold and through foreign exchange transactions, its central bank chief said on Monday, state broadcaster IRIB reported.…
Gulf banks need more provisioning, says AMF
BASEL, Switzerland: Some Gulf banks need more provisions to scrub themselves clean from problems from the credit crisis and their lending must become more prudent to avoid future bubbles, the…
Bahrain property seen subdued for some time, says report
MANAMA: Bahrain's property market is likely to remain subdued for some time due to lack of financing, while oversupply in both the residential and commercial sector will put further pressure…
Weak Gulf steel demand may lead to oversupply, says trade
DUBAI: Weak steel demand in the Gulf region might lead to oversupply in the market forcing prices to fall further in the coming weeks, steel traders said on Monday. Construction…
Dubai's DAE may postpone Boeing, Airbus orders, says report
PARIS: Dubai's financial woes may force majority state-owned Dubai Aerospace Enterprise (DAE) to renegotiate some 220 aircraft orders with Boeing and Airbus, French daily Les Echos said on Monday. The…