Regional News

  Bloomberg Investment Holding Group, which plans to sell shares on the Qatar Stock Exchange through an offering that opens next week, is seeking acquisitions that will lift earnings even if sales continue to decline. The company will either borrow or issue additional stock to buy new businesses because all of the proceeds from the initial public offering is going ...

  Bloomberg Jerusalem-based maker of chips and software for driverless cars Mobileye NV jumped most in 6 months after announcing strategic partnership with HERE, mapping consortium forged by German automakers. Shares of Mobileye rose 9.8 percent to $38.44 in New York, the most since June 30. The stock is still down 9.1 percent this year. Automakers and technology companies are ...

  Bloomberg Energy companies in the Middle East reduced their borrowing by 26 percent in 2016 as an increase in oil prices late in the year provided revenue needed for exploration and production. Bonds and loans issued by energy producers in the six-nation Gulf Cooperation Council declined 26 percent to $17.5 billion from a record $23.7 billion in 2015, data ...

  Bloomberg Iran qualified 29 international oil companies to bid in upcoming tenders for crude and natural gas development projects as the Persian Gulf state seeks investment in energy. China National Petroleum Corp., Royal Dutch Shell Plc and Total SA are among the companies that will be invited to bid in tenders, according to a list published on the website ...

    MUSCAT/ Reuters Oman’s government released a 2017 budget plan on Sunday that projected a smaller deficit but included fresh austerity steps and tight curbs on spending because of low oil prices, which are hurting state revenues. Government spending this year is projected to total 11.7 billion rials ($30.4 billion) and revenues 8.7 billion rials, which would result in ...

  Doha / Reuters Qatari construction firm Investment Holding Group (IHG) will launch an initial public offer of its shares next week in a boost for the country’s stock market, which has seen only two new listings since 2010. The contracting and trading business will offer 49.8 million shares, or 60 percent of its capital, at a price of 10.1 ...

  Bloomberg Saudi Telecom Co. is working with JPMorgan Chase & Co. to evaluate options including increasing its stake in Turkish telecommunications investor Oger Telecom, according to people familiar with the matter. The Riyadh-based firm could buy a stake in Oger Telecom from Saudi Oger, which holds 65 percent, to boost its current holding of 35 percent, said the people, ...

  Bloomberg Solar manufacturers led by China’s Trina Solar Ltd. are probably selling at a loss after prices fell to a record low this week. The global spot market price for solar panels fell 2.4 percent to an average of 36 cents a watt on Dec. 28, according to PVinsights. That’s the bottom end of the cost range for most ...

  Bloomberg It was a tumultuous autumn for Jim Carr. Canada’s pipeline point man was a key player in decisions by Prime Minister Justin Trudeau’s government to approve a major liquefied natural gas project in September and a pair of crude-oil proposals from Kinder Morgan Inc. and Enbridge Inc. last month, preceded by a string of regulatory and environmental concessions ...

  Bloomberg The purchase of 55,000 tonnes of sugar by Egypt’s state commodity buyer GASC on Monday was a direct, non-tender deal, traders said on Tuesday. GASC, the General Authority for Supply Commodities, said on Monday had bought the white sugar for delivery between Jan. 7 and Jan. 20. Dealers said on Tuesday the purchase was made in Egyptian pounds ...