The firm has faced a cash shortage after failing to receive payments from investments in Egypt and Kurdistan, which put pressure on prices of its sukuk.
Copyright
© Zawya.com
Business Blog
The company plans to reach a similar agreement with the holders of some $700mln in outstanding sukuk that will mature in October
Copyright
© Zawya.com
Shares in two Saudi banks that are in early merger talks moved in opposite directions on Thursday while other regional markets moved little in thin volumes.
Copyright
© Zawya.com
Here are some factors that may affect Middle East stock markets on Thursday.
Copyright
© Zawya.com
Two Saudi banks soared in early trade on Wednesday after saying they were in initial stages of a merger helping lift the mood in other lenders while shares of Abu Dhabi's TAQA slump after a corporate rating downgrade.
Copyright
© Zawya.com
Shares in Saudi Arabia's Alawwal Bank rose 9% and SABB saw a rise of 6.8%
Copyright
© Zawya.com