Middle East

A logo of Emaar

Dubai's Emaar looks to raise $1.58 billion from malls unit's IPO

Dubai's Emaar Properties is seeking to raise as much as 5.8 billion dirhams ($1.58 billion) from an initial public offer of shares in its shopping malls unit that is expected to be the Gulf's biggest stock sale since 2008.

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Abdel Fattah al-Sisi

Egypt president says no magic bullet for power problems after major blackout

President Abdel Fattah al-Sisi prepared Egyptians on Saturday for more blackouts after lights went out across much of the country this week, saying it would take time and cost the cash-strapped state $12 billion to upgrade the decrepit power grid.

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Boeing

Emirates airline says Ex-Im Bank not critical for its plane financing

Emirates, Dubai's flagship airline, would not have trouble buying planes from Boeing Co (BA.N) even if the U.S. Congress fails to renew the U.S. Export-Import Bank's charter later this month, a senior company executive said on Friday.

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Oil refinery in flame

Iraq's Baiji Refinery repairs to take at least a year

Kurdistan Regional Government's (KRG) Natural Resources Minister Ashti Hawrami on Thursday said it would take more than a year to repair the Baiji Refinery after it was damaged in a series of attacks by Islamic State militants since June.

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Goldman Sachs

Goldman Sachs plans sukuk issue as Islamic finance goes mainstream

Goldman Sachs (GS.N) is reviving plans to issue at least $500 million worth of Islamic bonds, a sign that Islamic finance is going mainstream as big conventional banks seek to tap Middle Eastern money.

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Abu Dhabi Skyline

Abu Dhabi's Waha Capital in $575 mln hedging deal on half of AerCap stake

Abu Dhabi's Waha Capital has entered into a $575 million hedging deal on half of its stake in AerCap Holdings, the Emirati investment company said on Wednesday.

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Oak Hill Capital Partners

Oak Hill Capital to buy Berlin Packaging for $1.43 billion

Private equity firm Oak Hill Capital Partners said it would buy container maker Berlin Packaging LLC for $1.43 billion from Bahrain-based investment firm Investcorp Bank BSC INVB.BH.

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Glow by EndyMed

OHMK Medical Technology invests $7 million in EndyMed Ltd

Israeli-company EndyMed Ltd has reached an agreement with the Chinese OHMK Medical Technology, which will acquire 47.93 million EndyMed shares (28.94 percent share capital and voting rights), for $7 million.

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Suez canal near Ismailia port city

Egypt plans to dig new Suez Canal costing $4 billion

Egypt plans to build a new Suez Canal alongside the existing 145-year-old historic waterway in a multi-billion dollar project aimed at expanding trade along the fastest shipping route between Europe and Asia.

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Smoke trails are seen as rockets are launched towards Israel

Gaza death toll rises; Hamas fires rockets at Tel Aviv

An Israeli air strike on the home of Gaza's police chief killed 18 people on Saturday, Gaza's health ministry said, and Hamas fired the largest salvo of rockets yet on Tel Aviv since the start of the Jewish state's offensive in the Palestinian enclave.

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Cellcom

Israeli mobile phone co Cellcom to offer TV over Internet

Cellcom, Israel's largest mobile phone operator, said on Tuesday it will offer television services over the Internet as it seeks to look for new sources of revenue amid heavy competition in the cell phone market.

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Emerging Markets

Moody's: EMEA high-yield market remains set for another record year, as private equity IPOs continue

With high-yield bond issuance of USD13.8 billion in May, and cumulative issuance reaching USD70 billion, 2014 looks well placed to set another issuance record according to Moody's

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Turkish Flag

Turkey lifts block on access to YouTube: official

Turkey's telecoms regulator removed an official order blocking access to YouTube (GOOGL.O) from its website on Tuesday after the country's top court ruled last week that the ban was a breach of human rights.

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Newsonair.com

Iranian hackers use fake Facebook accounts to spy on U.S., others

In an unprecedented, three-year cyber espionage campaign, Iranian hackers created false social networking accounts and a bogus news website to spy on military and political leaders in the United States, Israel and other countries, a cyber intelligence firm said on Thursday.

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YouTube

Turkish telecoms watchdog says waiting on ruling to unblock YouTube

Turkish telecoms watchdog BTK said on Friday it had not yet received a ruling by Turkey's top court ordering the removal of a two-month block on video-sharing website YouTube

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