Saudi family group feels the pain
Ahmad Hamad Algosaibi & Brothers Company is one of the oldest and most respected family-owned conglomerates in Saudi Arabia. But one of its subsidiaries has defaulted on financial obligations to other banks
Saudi rules out GCC bank u-turn (Gulf Times)
Saudi Arabia and three other Gulf states will proceed with their monetary union plan and the location of a Gulf central bank would not be open for renegotiation, the Saudi finance minister said.
Gulf central bank won’t be moved, Saudis say (Zawya)
01 June 2009 Dubai: The Gulf Cooperation Council’s (GCC) location of the planned Gulf central bank in Riyadh is not open to negotiation despite objections by the UAE, a Saudi official said on Sunday.
Heated debate fails to agree on African aid
There has been little consensus in an online debate launched by the FT this week on whether more or less foreign development assistance will help reduce poverty in the continent
Envoy to visit Syria as Obama ups detente
Barack Obama is set to send his Middle East envoy to Syria in the most concrete sign yet of rapprochement between Washington and Damascus
Qatar to buy $4.1bn property from banks
The emirate has offered to buy real estate investments as the government steps up efforts to support the domestic financial sector against the fallout from the credit crunch
Yemen wants Saudis to block cash for separatists (AlertNet)
Source: Reuters (Adds details from state news agency in paragraph 5-6) RIYADH, May 31 (Reuters) – Yemeni President Ali Abdullah Saleh will ask King Abdullah of Saudi Arabia to block the flow of funds from Yemeni …
Abraaj Capital Opens Saudi Office, Sees Growth Opportunities (Mena Report)
Dubai-based private equity group Abraaj Capital, which has raised about US$ 7 billion since inception in 2002, announced today the opening of its office in the Saudi Arabian capital Riyadh with a dedicated investment team to tap growing opportunities in the largest Arab economy.
Women chip away at barriers to advancement
Political, social and economic factors have combined to allow an increase in equal opportunities in the United Arab Emirates despite continuing male resistance
Hizbollah tries to secure IMF funds
Hizbollah has held talks with the IMF and the EU as it seeks to secure continued financial support for Lebanon if the alliance it leads wins next month’s elections
Iran defuses bomb on board domestic flight: report (AFP via Yahoo! News)
Iranian security officials have defused a handmade bomb on board a domestic flight headed from Ahvaz, in the west of Iran, to the capital Tehran, Fars news agency reported.
Six killed in raid on Hamas hideout
Forces loyal to Mahmoud Abbas raided a Hamas hideout in the West Bank just days after the Palestinian president promised in Washington to fulfil his security commitments
Abraaj Capital opens Saudi office (AME Info)
Dubai-based private equity group Abraaj Capital, which has raised about $7bn since inception in 2002, announced the opening of its office in the Saudi Arabian capital Riyadh with a dedicated investment team to tap growing opportunities in the largest Arab economy.
Hizbollah in IMF talks ahead of poll
Lebanon’s Hizbollah has held talks with the International Monetary Fund and the European Union as it seeks to secure continued financial support for Lebanon should the…
Saudi executive’s accounts frozen
The kingdom’s central bank has ordered its banks to freeze the accounts of Maan al-Sanea, a businessman and significant shareholder in HSBC
Bomb found, defused aboard Iranian jet (MSNBC)
Security personnel defused a homemade bomb found on an aircraft during a domestic flight in Iran late on Saturday, Iranian media said.
UAE’s Abraaj Capital says in talks for Saudi deals (Reuters via Yahoo! Singapore News)
RIYADH, May 31 (Reuters) – Abraaj Capital, the Middle East’s biggest private equity firm, is in talks with several Saudi firms for deals that could be worth between $150 million and $200 million each, the head of its new Saudi branch said on Sunday.
Lebanon bloc warns of economic stakes
A senior figure in the ruling pro-western bloc suggests support from key financial allies could dry up if the opposition, dominated by Hizbollah, wins parliamentary elections
