News Centre

Gunvor Launches US$ 900 Million Revolving Credit Facility

Date 13/10/2014

Gunvor Group Ltd ("Gunvor" or the "Group") is pleased to announce the launch of the syndication of a US$ 900 million Revolving Credit Facility (the "Facility") in favor of Gunvor International B.V. and Gunvor SA (the "Borrowers"). The Facility will replace the maturing tranche of the Borrower's Revolving Credit Facility dated 6 December 2013 and be used to finance general corporate and working capital requirements.

Platts: Global Petrochemical Prices Fell 3% In September - Lackluster Derivative Demand, Falling Crude And Naphtha Prices

Date 13/10/2014

Prices in the $3-trillion-plus global petrochemicals market continued to fall in September, following the drop in upstream energy prices, according to the just-released monthly Platts Global Petrochemical Index (PGPI). The PGPI is a benchmark basket of seven widely used petrochemicals and is published by Platts, a leading global energy, petrochemicals and metals information provider and a top source of benchmark price references.

ASIC Facilitates Foreign Companies Offering Securities

Date 13/10/2014

ASIC today released guidance to facilitate foreign companies making offers of CHESS Depository Interests (CDIs) over their shares and options to investors in Australia.

ADX Releases Smart App

Date 13/10/2014

Abu Dhabi Securities Exchange (ADX) announced today at GITEX 2014 the launch of its first smart mobile app.  The Mobile Application provides investors with enhanced services and the opportunity to experience the latest technologies ADX offers with real-time quotes, news & announcements and tools that keep investors up-to-date with market activities.

Major Banks Agree To Sign ISDA Resolution Stay Protocol

Date 13/10/2014

The International Swaps and Derivatives Association, Inc. (ISDA) today announced that 18 major global banks (G-18) have agreed to sign a new ISDA Resolution Stay Protocol, which has been developed in coordination with the Financial Stability Board to support cross-border resolution and reduce systemic risk. This represents a major step in strengthening systemic stability and reducing the risk that banks are considered ‘too big to fail’.

SIFMA Statement On The New ISDA Resolution Stay Protocol

Date 13/10/2014

SIFMA today issued the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, on today’s announcement that 18 major global banks (G-18) have agreed to sign a new ISDA Resolution Stay Protocol:
                
“SIFMA supports the agreement between banks and regulators to delay termination of derivatives contracts in the event of resolution of a related troubled financial institution to better manage systemic risk.  Both our sell-side and buy-side members have been highly engaged in this important industry initiative. ” 

Cairo Amman Bank Weekly Economic Monitor

Date 12/10/2014

Click here to download Cairo Amman Bank's Weekly Economic Monitor.

Dubai Financial Market Performance – Q3, 2014

Date 12/10/2014

The Dubai Financial Market General Index increased by 27.9% to 5042.9 points at the end of this quarter compared to 3942.8points at the end of second quarter 2014. At the sectoral level, all nine indexes represented on DFM ended the quarter in the green, with Real Estate and Construction sector increasing the most by 40.5%, followed by the Financial and Investment Services and the Industrial sectors by 31.2%, and 24.3% respectively. The Banking and Services indices up 21.3%, and 16.7% respectively.

DFM Showcases Key Outlines Of “Smart Borse” And Latest Solutions During GITEX 2014

Date 12/10/2014

DFM eye-openers at the exhibition:

• Demo version of the new smart phone application enables users to track stock portfolio and access their investment charts
• New website includes refined Market Watch which provides investors with real time data and “Market Depth”
• Showcasing the features of DFM eIPO platform, successfully utilized during the IPOs of Marka and Emaar Malls 

ADX Partakes In GITEX 2014

Date 12/10/2014

Abu Dhabi Securities Exchange (ADX) is partaking today Sunday the 12th of October in GITEX Technology Week 2014, which is taking place at the Dubai World Trade Centre from October 12th - 16th. ADX is joining other Abu Dhabi government entities to display the latest in IT offerings from the Emirate. Abu Dhabi Systems and Information Centre (ADSIC), the government entity in charge of Abu Dhabi’s ICT agenda, has been charged by the General Secretariat of the Executive Council with hosting the entities on one stand delivering an experience for GITEX visitors that will show the depth and breadth of Abu Dhabi’s digital offering.