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International

IMF snips US 2014 growth outlook
The International Monetary Fund (IMF) on Wednesday said it expects the US economy to grow even more slowly this year than it predicted a month ago due to weakness in the first quarter.
DIB-led team to advise 
on PIA restructuring
The Government of Pakistan has appointed the consortium headed by Dubai Islamic Bank (DIB) as the financial advisor on the restructuring of Pakistan International Airlines Corporation (PIAC) leading to private sector partnership in the core operations of the airline.
Jazeera Airways profit plunges 34.7%
Jazeera Airways Group on Wednesday reported an operating revenue of KD29.3 million and a net profit of KD4.9 million for the first half of 2014.
KIPCO on track to hit revenue goal
Kuwait Projects Co (Kipco), the Gulf state’s largest privately owned investment company, said it was on track to hit its target of a double-digit rise in revenue this year after reporting an 18 per cent increase in the first half.
Middle East firms face $91billion refinancing needs
For bank and bond debt due to mature over the next four years, European investment-grade companies face refinancing needs of about $1.06 trillion.
Saudi to open stock market to foreigners
CMA plans to open up $530b market to international investors
Latham & Watkins advises Mobily
Latham & Watkins has advised Etihad Etisalat, or Mobily, a leading telecommunications operator in Saudi Arabia, in connection with a $200 million murabaha facility made available by Export Development Canada.
Oman Cement posts 4.3% H1 net profit hike
Oman Cement reported a 4.3 per cent increase in net profit before tax for the first half of 2014, despite a drop in sales for the period.
Vodafone Egypt to invest $1.3billion over 3 years
Vodafone Egypt will invest around EŁ9.5 billion ($1.3 billion) over the next three years to improve its network, its recently-appointed chief executive officer said.
Tough Indian stance stalling trade pact
Efforts to assuage Indian concerns about a landmark global trade pact appear to have failed, sources involved in the discussions said on Monday, setting off a frantic rush to win its support before a Thursday deadline.
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