Economy






Petchem stocks weigh down market

JEDDAH: Saudi Arabia’s benchmark Tadawul All-Share Index ended Sunday’s trading in the red at 9,732.52 points, down 35.57 points or 0.36 percent from its previous day close.



Gulf stock markets dip, tracking oil

DUBAI: Most Gulf stock markets slipped after oil prices fell, while Egyptian equities extended gains following the delay of an unpopular capital gains tax.



Energy giant Sonatrach appoints new CEO

ALGIERS: Algeria’s state energy firm Sonatrach has picked a new chief executive to replace an interim head appointed less than a year ago and has also replaced more than 20 other managers in a major s



IAFC bids to raise $400 million for aircraft financing

DUBAI: International AirFinance Corporation (IAFC) has picked two banks to arrange a $400 million Islamic loan to finance the provision of five aircraft, one of the arrangers of the facility said.



Bank Sohar launches $250m 3-year debut loan

DUBAI: Oman’s Bank Sohar has invited banks to participate in a $250 million debut loan to fund its general business activities, with the marketing of the deal expected to close by end of June, the arr



Algeria records trade deficit of $4.3 billion

ALGIERS: OPEC member Algeria recorded a trade deficit of $4.3 billion for the first four months of 2015, reversing a $3.4 billion surplus a year earlier, due to lower energy earnings as global oil pri



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