saudi arabia

 

Jump in Islamic tax liabilities worries Saudi banks

Feb 22 2018

A jump in retroactive Islamic tax liabilities faced by Saudi banks is creating concern about damage to their earnings and the government’s motives in demanding the money.

MSCI decision on Saudi Arabia to be independent of Aramco listing

Feb 22 2018

MSCI’s impending decision on whether to upgrade Saudi to emerging market status will be independent of the stock market’s ability to absorb the listing of Saudi Aramco.

OPEC, allies aim to cooperate beyond 2018: UAE energy minister

Feb 20 2018

UAE Energy Minister said that OPEC and non-OPEC oil producers will continue their cooperation beyond 2018 to help avoid any future oil glut or shortage.

Jaitley meets Saudi King; discusses ways to boost ties

Feb 19 2018

Jaitley met Saudi King Salman and discussed with him ways to boost bilateral economic and trade cooperation.

For timing of Aramco IPO, watch forward oil price curve

Feb 19 2018

Industry experts are focusing on the current level of oil prices. However another key consideration for Saudi officials in floating up to 5 % of the state oil producer.

Jaitley to embark on two-day Saudi Arabia visit on Saturday night

Feb 17 2018

Jaitely would be leaving Saturday night on a two-day official visit to Saudi Arabia to co-chair the 12th India-Saudi Arabia Joint Commission Meeting.

Oil extends gains on Saudi commitment to cut, weak dollar

Feb 15 2018

Oil prices extended gains from the previous session, pushed up by a weak dollar and by comments from Saudi Arabia that it would rather see an undersupplied market.

United Arab Emirates banks eye end to $22 billion Saudi debt saga

Feb 13 2018

Banks in the UAE are hopeful of recovering some funds in 2018 from the multibillion-dollar collapse of Saudi Arabia’s Saad Group and Ahmad Hamad al-Gosaibi & Bros Co.

Italy’s SACE plans to back $1.6 bn in debt to Saudi Arabia: CEO

Feb 12 2018

Italy’s export credit agency SACE plans to back $1.6 billion in loans to Saudi Arabia over the next 12 to 18 months, the agency’s chief told Reuters.

Navy chief visited Saudi this week, focus on deepening defence ties

Feb 09 2018

Navy Chief visited Saudi Arabia from February 4-8 and held extensive talks with its top defence brass to further consolidate cooperation between the armed forces.

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Stocks In News

 

ULTRATECH CEMENT

Ultratech Cement leads race to take over Binani Cement

Offers around Rs 6,200 cr, 20% stake in co to unsecured financial creditors

Dalmia Bharat offers Rs 6,300 Cr

Dalmia seen to lose as UltraTech offering equity stake to creditors

Final decision on winner to be ratified by NCLT

Business Standard Reporst

IRB INFRA

4 companies put in bids for 9 operational national highways under ‘toll-operate-transfer’ model

Brookfield Asset mgmt, Macquarie, IRB Infra and Roadis- NIIF are cos in fray

NHAI hopes to generate more than Rs 6000 cr Under TOT model

auction will involve five highways running across Andhra Pradesh and four in Gujarat
total length of these highways is just under 700 km

Successful bidder to get toll collection rights for 30 years

BALAJI AMINES

Ministry of Commerce recommended Central Govt Anti dumping duty on Dimethylacetamide

Recommend duty for 5 Yrs on DMAC originating from China and Turkey

ADANI TRANSMISSION

Co bags Rajasthan Project

Received a LOI to construct, own, operate and maintain Fatehgarh-Bhadla transmission project in Rajasthan

Received LOI from PFC Consulting Ltd, an arm of Power Finance Corporation

With this project, ATL will strengthen its existing presence in Rajasthan with 2 operational transmission projects and 4 under construction assets

On completion of this acquisition cumulative transmission network will reach 12000 ckt kms, out of which ~9000 ckt kms under operation

Transformation capacity of ATL will also increase to 19,300 MVA from 35 substations

FORTIS HEALTHCARE

To be out of F&O if it does not declare quarterly results by March 1

All existing F&O contracts will expire on March 28

No fresh contracts will be available if the firm fails to submit results for quarters ended September and December 2017 by March 1

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