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Dubai / Reuters Saudi Arabia will issue a local currency sukuk, or Islamic bond, this month, Saudi finance minister Mohammed Al Jadaan told Al Arabiya News on the sidelines of the G20 summit in Hamburg. The government is expected to tap both the local and international bond markets this year, depending on the level of demand and the pricing it ...

RIYADH / Reuters Morgan Stanley named a new chief executive of its office in Saudi Arabia on Monday, as the firm carries out work on high-profile deals like the initial public offering of state oil giant Aramco. Abdulaziz Alajaji was previously head of corporate banking at JPMorgan & Chase Co in the kingdom. Rival JPMorgan enjoys a strong position in ...

Bloomberg HSBC Holdings Plc is in talks to resolve a U.S. probe into its sale of toxic mortgage bonds a decade ago, according to people familiar with matter, a negotiation that could offer an early look at how the Trump Justice Department will deal with global banks. The London-based bank has had at least one meeting with the Justice Department ...

Bloomberg Barclays Plc is on a hiring spree to boost its investment banking and market operations in Japan, one year after it shut its cash equity business and cut 120 jobs. The UK firm plans to hire more than 10 bankers and sales staff this fiscal year to advise on mergers and sell investment products, Kentaro Kiso, president of Barclays ...

Bloomberg While the Bank of Japan (BOJ) faced down the market with its offer to buy an unlimited amount of bonds, the battle over yield control may have only just begun. The swift action allowed the BOJ to quickly assert authority over the 10-year yield, bringing it down from a five-month high of 0.105 percent. The question is how far ...

Bloomberg Wal-Mart Stores Inc. sold yen bonds for the first time in seven years, taking advantage of falling fundraising costs and Japanese demand for securities issued by well-known US firms. The US retailer offered 170 billion yen ($1.5 billion) of five-year, seven-year and 10-year notes, in its first yen issuance since selling 100 billion yen of debt in July 2010. ...

Abu Dhabi / Emirates Business Etihad Holidays has launched operations in Saudi Arabia, Kuwait, Oman and Bahrain to provide a wide choice of package holiday options to travellers in the four countries. The move follows the successful introduction of Etihad Airways’ holiday division in the UAE, UK, Germany, India and North America. Launched in 2004, Etihad Holidays offers dynamically packaged ...

Bloomberg Chinese aircraft builder Comac won approval from the nation’s aviation regulator to start mass production of its homemade ARJ21 regional jet, paving the way for deliveries to customers. The Civil Aviation Administration of China issued production certificates for the 90-seater Advanced Regional Jet, state-owned Commercial Aircraft Corp. of China Ltd., or Comac, said in a statement, adding it aims ...

Sharjah / Emirates Business Air Arabia, the Middle East and North Africa’s first and largest low-cost carrier (LCC) launched its inaugural flight to Sohar, making it the first international flight to commence operations at the Sohar Airport. The Air Arabia flight will operate three times a week, on Sundays, Mondays and Wednesdays, departing from Sharjah International Airport (SHJ) at 08:00 ...

DUBAI / Reuters Wataniya Airways is to resume flights on Tuesday for the first time since ceasing operations in 2011, according to state news agency KUNA. Wataniya halted operations after three years in business due to its financial situation and political instability in the Middle East. The Kuwaiti airline will restart with a scheduled service on July 11 to Tbilisi, ...