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Most GCC markets recovered during the week ended September 26, 2008. Saudi, Kuwaiti and Bahraini markets continued their weak performances. Saudi’s All Share Tadawul Index shed 3.4% during the week. Concerns regarding the global financial crisis restricted the Saudi market from entering positive territory. Additionally, bleak performances by blue-chip companies added to the selling pressure. [...]
London, Thursday, September 25, 2008 ARANCA News Report (www.aranca.com) French state controlled energy major, EDF plans to buy British Energy (BE) in a £12.5 billion (USD$23.2 billion) deal. After shareholder and regulatory approval, the French utility firm will take over eight nuclear plants owned by British Energy. EDF also unveiled plans to build four new [...]
London, Wednesday, September 24, 2008 ARANCA News Report (www.aranca.com) :Warren Buffett’s Berkshire Hathaway Inc. has announced plans of investing at least $5 billion in Goldman Sachs Group Inc. As part of the deal Berkshire will buy $5 billion of perpetual preferred stock at a 10 percent dividend. Berkshire will also receive warrants to buy $5 [...]
London, Tuesday, September 23, 2008 ARANCA News Report (www.aranca.com) :Japan’s biggest investment bank, Nomura Holdings has agreed to buy the Asia- Pacific operations of the bankrupt US investment bank Lehman Brothers. As part of the deal Nomura will acquire Lehman’s Asia-Pacific M&A unit, derivatives, electronic trading and prime brokerages division. However, trading assets and trading [...]
London, Monday, September 22, 2008 ARANCA News Report (www.aranca.com) :In an attempt to provide liquidity to strained financial markets, some of the largest central banks are discussing a long-term plan to accept as collateral assets denominated in foreign currencies. The U.S Federal Reserve, the Bank of Japan, the European Central Bank and the Bank of [...]
London, Friday, September 19, 2008 ARANCA News Report (www.aranca.com) :Cracking down on short-sellers, the U.S. Securities and Exchange Commission (SEC) issued an emergency order temporarily banning short-selling. The SEC order aimed to protect investors, banned the short-selling of 799 financial stocks. The temporary ruling expires at 11:59 p.m. EDT on October 2. The ban can [...]
London, Monday, September 01, 2008 ARANCA News Report (www.aranca.com) :Britain’s manufacturers from all sectors are feeling the impact of slowing economic activity in the UK and Eurozone reported a survey published by the Engineering Employers Federation (EEF). Despite posting twelve consecutive quarters of growth, the balance of expected output and orders fell into negative territory [...]
London, Monday, September 01, 2008 ARANCA News Report (www.aranca.com) :As economic growth slowed, UK house prices fell the most in August since 2001, real-estate data firm Hometrack reported on Monday. This is the eleventh straight month when British home prices slipped – a drop of 0.9 percent from July and a 5.3 percent drop since [...]
