Economics and Policy
The European Union's foreign policy chief has met Egyptian President Mohamed Morsi to encourage the country's feuding political leaders to seek a national consensus in tackling mounting economic and political problems.
However on the same day, Egypt's highest judicial body urged the top prosecutor to step down less than five months after the president appointed him.
Companies and Business
Morgan Stanley named veteran banker Sammy Kayello as the chief executive and chairman of its business in the Middle East and North Africa, replacing Kamal Jabre who is relocating to London for a senior investment banking role.
Saudi Arabia’s Riyad Bank posted a 5.5 per cent rise in its first-quarter profits on Sunday, beating analysts’ forecasts.
Abu Dhabi state-owned telecoms company Etisalat has lined up an $8 billion dual-tranche loan facility to finance its bid to acquire Vivendi’s stake in Maroc Telecom, bankers working on the deal said.
Khalifa Industrial Zone Abu Dhabi (Kizad) announced that it has awarded a Dhs100 million contract for the construction of phase 1 of its pre-built warehousing (PBWH) to UAE-based System Construct.