National Bank of Kuwait (NBK) Capital has upgraded its view of Riyadh’s Arab National Bank (ANB) to buy from hold. “ We cut our fair value for ANB by 22 per cent to SR 28.40, which still reflects a 29…
Month: December 2015
IMF forecasts Iran will be fastest-growing Gulf economy
For full coverage of business developments in Iran and the Middle East, see MEED The IMF Article IV report published today called for the Iranian government to continue counter-inflationary policies, fiscal re-balancing and job-creation measures but forecast the Islamic Republic…
UAE leads $120m loan for Aegean Oil
United Arab Bank (UAB) has closed of a $120 million credit facility for Aegean Oil Terminal Corporation, a New York Stock Exchange subsidiary of Aegean Marine Petroleum Network Incorporated (AMPNI). The credit facility marks the first syndicate lead for UAB…
Qatar budget deficit in line with expectations
The deficit of QR 46.5bn ($12.8bn) envisaged inQatar’s 2016 budget reflects the impact of lower oil prices but remains in line with most expectations, analysts say. It will amount to about 5 per cent of Qatar’s forecast GDP in 2016.…
Iran aims for WTO membership
Iran’s Industry, Mining & Trade Minister Mohammad Reza Nematzadeh For full coverage of business developments in Iran and the Middle East, see MEED Industry, Mining & Trade Minister Mohammad Reza Nematzadeh said today that Iran is preparing to join the…
End of Iran sanctions could come in weeks
IAEA director-genera Yukiya Amano For full coverage of business developments in Iran and the Middle East, see MEED Director general of the International Atomic Energy Agency (IAEA) Yukiya Amano said today that the IAEA Board of Governors has closed the…
Saudi bank lending to grow 7-8 per cent in 2016: Fitch
Fitch Ratings says in a new special report that the tougher domestic operating environment is putting pressure on the Saudi banking sector outlook. “The performance and financial metrics of the Saudi banks remained sound in the first half of 2015,…
IAEA approval of Iran final assessment to be unanimous
The International Atomic Energy Agency’s (IAEA’s) 35-member board of governors is expected unanimously to agree on ending an investigation into Iran’s possible development of nuclear weapons and endorse a report that the Islamic republic has adhered to conditions in the…
IAEA Iran review board meeting opens tomorrow morning
For full coverage of business developments in Iran and the Middle East, see MEED The special meeting of the International Atomic Energy Agency’s (IAEA’s) board of governors that will consider the agency’s final assessment of past and present outstanding issues regarding…
Fitch outlook turns negative for NBB and BBK
For full coverage of Middle East business developments, see MEED Fitch Ratings announced today that it had revised its outlook for National Bank of Bahrain (NBB) and Bank of Bahrain & Kuwait (BBK) to negative from stable but affirmed their long-term…