business - INTERNATIONAL AGENCY FOR JOURNALISM AND STRATEGIC STUDIES

Two Gulf Banks Close to Deciding on Mega Merger

Kuwait Finance House and Bahrain’s Ahli United Bank BSC’s boards will meet this week to consider valuation reports on a potential merger, a deal that would create the Gulf’s sixth-biggest lender with $92 billion in assets. ...

Bahrain got first funds from GCC aid last year

Bahrain has received the first instalment of a $10 billion aid package pledged by its Gulf allies last year, its central bank governor told Bloomberg TV in an interview. “This has been within the programme we have agreed. The first payment was last year and I think this year this will continue,” Rasheed Mohammed Al Maraj said in Davos. ...

BAE Systems sells control of vehicles arm to Rheinmetall

British defence giant BAE Systems has sold a majority stake in its Land UK tank and combat vehicle division to German rival Rheinmetall for £28.6m. ...

GCC states to focus on more diversification

The global economy will see slower growth in 2019, but the overall outlook remains positive for the GCC, with many countries such as the UAE focused on their diversification strategies, experts said. ...

UAE is the most attractive IT market in MEA, Fitch Solutions says

The Emirates has scored 68.4 points out of a potential 100 in the new regional index ...

Saudi bonds to join JPMorgan index in $119B Gulf addition

Saudi Arabia and four other Gulf nations will join JPMorgan Chase & Co.’s emerging-market bond indexes this month, potentially paving the way for billions of dollars in inflows into the securities. ...

Saudi Arabia to build oil refinery in South Africa

Saudi Arabia is planning to build an oil refinery in South Africa, as part of a huge investment in the country. Saudi Arabia’s Minister of Energy, Khalid Al-Faleh, said yesterday that the Kingdom is planning to build an oil refinery and petrochemical factory as part of investments worth tens of billions of dollars in South Africa, Reuters reported. ...

Nissan says Ghosn received $9m in improper payments

  Nissan and Mitsubishi have said Carlos Ghosn received "improper payments" totalling €7.8m ($8.9m; £6.9m) from a joint venture between the carmakers. ...

Passport

the passport  ...

Nuclear plant in Anglesey suspended by Hitachi

Hitachi has said it will suspend work on a multi-billion-pound UK nuclear project because of rising costs. ...

Global sukuk issuances to reach up to $115bn in 2019 with oil wild card

The global issuance of Sharia-complaint foreign and local currency bonds this year is expected to reach as much as $115 billion (Dh422.1bn), the same level of 2018, with oil prices being a determining factor of total size of sales, according to S&P Global Ratings. ...

London business district keeps Gulf partners close ahead of Brexit

Fintech and green finance will be high up the agenda of Lord Mayor of London Peter Estlin – who represents London’s financial district – as he visits Abu Dhabi, Dubai and Kuwait City next week to discuss new opportunities for collaboration. ...