Morning briefing: 23 Nov 2012

Oil prices fall after Gaza truce, plus other stories

Economics

Oil prices fell on Friday as a cease-fire agreement between Israel and Hamas that stopped weeklong fighting in the Gaza Strip continued to hold.

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An IMF agreement for a loan to Egypt provides stability, confidence and international support for fiscal consolidation and structural reform. the body has said.

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Companies

One of India's largest listed real estate developers has announced the launch of its first overseas office in the UAE. Indiabulls Real Estate Ltd, which has delivered 3.3 million sq ft developed space valued at $1.75bn in the last four year, has set up in Dubai's Karama area.

More from Arabian Business

 

Dana Gas, in talks to restructure a $920m Islamic bond, is offering bondholders cash and an average 8 percent coupon on two new sukuks to replace the existing one, two sources said.

More from Arabian Business

 

Citadel Capital has agreed with Qatari investors to import liquefied natural gas (LNG) into Egypt from mid-2013, the Egyptian private equity firm has said.

More from Arabian Business

 

Politics

The Egyptian president Mohammed Morsi has sacked the prosecutor general, ordered a retrial of Mubarak officials and placed himself above judicial oversight, in moves condemned by campaigners.

More from The National

 

Guy Fawkes masks have been banned from National Day celebrations in the UAE amid fears that people could wear them to symbolise opposition to the state.

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On the first anniversary of the Bahrain Independent Commission of Inquiry (BICI), Bahrain's government has issued a forceful defence of progress made towards reform.

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