United Arab Emirates News
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The U.S. and its allies will expand backing for Syrian rebels and consider all options short of deploying American troops if diplomacy doesn’t halt a bloody civil war, U.S. Secretary of State John Kerry said.
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Two United Arab Emirates banks raised $1.3 billion from bonds sales and Morocco plans to boost the size of its existing dollar-denominated notes as Middle East issuers take advantage of falling borrowing costs.
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Qatar’s central bank governor said his country hasn’t changed its support for pegging the riyal to the U.S. dollar after Reuters reported that the bank’s director of research urged a more flexible exchange rate.
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Dubai and Qatar deserve to be upgraded to emerging-market status at MSCI Inc. next month, T. Rowe Price Group Inc. said, after the emirates failed to satisfy the index provider’s requirements for four years.
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Mediclinic International Ltd., South Africa’s largest private-hospital owner by market value, said fiscal full-year sales advanced 12 percent on higher patient numbers and rising average income per stay.
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The New York Yankees will be an investor in Major League Soccer’s expansion team in New York, which will be controlled by Manchester City Football Club.
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Sembcorp Industries Ltd., the biggest utility in Southeast Asia, formally opened its $1 billion Salalah water and power plant in Oman.
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Emirates Telecommunications Corp., the largest publicly traded company in the United Arab Emirates, said its Nigerian unit secured a $1.2 billion loan to refinance existing debt and grow its network.
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Dubai shares declined the most in more than a month on investor bets gains this year are overdone and as stocks in Europe and Asia retreated from a five-year high. Abu Dhabi’s gauge also decreased.
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Pilatus Flugzeugwerke AG wants to sell its new PC-24 from 2017 as the Swiss maker of military trainer aircraft expands its private-plane offering to take on Embraer SA and Textron Inc.’s Cessna.
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