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16 Oct 2014   Saudi bank in $6 bn IPO 
 
(MENAFN - AFP) Saudi Arabia's National Commercial Bank is going ahead with an initial public offering worth $6 billion despite opposition from Muslim clerics.

The IPO from Sunday, making NCB the last Saudi bank to go public, is expected to be one of the largest in the world this year.

"It will be very, very highly watched", said Beshr Bakheet of the privately-held Osool ...

 
(MENAFN - AFP) US automaker Chrysler recalled more than 900,000 vehicles for safety issues on Thursday, including for an alternator problem that can cause engines to stall.

Chrysler, the third biggest US automaker and part of Fiat Chrysler, said it will recall about 470,000 vehicles with 3.6 liter V-6 engines to address the alternator problem.

About 90 percent of the ...

 
(MENAFN - AFP) US billionaire investor Warren Buffett's investment company has cut its holdings in British supermarket giant Tesco, which is grappling with falling profits and probe by the financial watchdog.

Berkshire Hathaway has cut its holding in the world's third-biggest supermarket group to below three percent, according to a stock market filing published on Thursday.

Buffett, ...

 
(MENAFN - AFP) European stocks closed mixed on Thursday, with German shares staging a late comeback after fears the eurozone could be heading toward a fresh crisis spread turmoil through markets for much of the day.

London's benchmark FTSE 100 index ended down 0.25 percent at 6,195.91 points, while in Paris, the CAC 40 lost 0.54 percent to 3,918.62 points.

Meanwhile ...

 
(MENAFN - AFP) A Chinese-led consortium was the only group to enter a bid for a high-speed train project connecting Mexico City and the central city of Queretaro, the transport ministry said Thursday.

The China Railway Construction Corp. presented on Wednesday a $4.3 billion plan to build the trains and 210-kilometer (130-mile) railway, the ministry said in a statement.

The ...

 
(MENAFN - AFP) A Spanish judge on Thursday ordered ex-IMF head Rodrigo Rato to pay a three-million-euro ($3.8 million) court bond as a probe of suspect spending at a bailed-out bank goes ahead, a judicial source said.

Judge Fernando Andreu also ordered a second suspect, Miguel Blesa, to pay a bond of 16 million euros in the case, in which Blesa and Rato face possible fraud ...

 
(MENAFN - AFP) Russian President Vladimir Putin warned Europe Thursday its gas supplies could be at risk as he prepared for talks with Ukraine counterpart Petro Poroshenko at an Asia-Europe (ASEM) summit overshadowed by the crisis.

NATO meanwhile said it had seen no sign of any major Russian pullback from the Ukrainian border despite Putin saying earlier this week nearly ...

 
(MENAFN - AFP) Nigeria's chaotic megacity Lagos on Wednesday sought to impose a one-day ban on the use of the car horn, hoping to raise awareness about damaging noise pollution and improve quality of life.

The occasional honk still rang out on the crowded streets of the country's financial capital yet drivers, public transport users and pedestrians said they noticed that ...

 
(MENAFN - AFP) Saudi Arabia is seeing "sporadic" cases of the Middle East Respiratory Syndrome coronavirus (MERS-CoV), which has killed 324 people in the country, the health ministry said Thursday.

The kingdom has been hardest hit by MERS, which has also appeared in about 20 other nations.

The ministry said it has recorded "sporadic cases of MERS-CoV around the kingdom" ...

 
(MENAFN - AFP) Ebola's escalating spread constitutes the worst global health emergency in years, world leaders warned, vowing to dramatically step up the response to the virus that has already killed nearly 4,500 people.

As of Sunday, 4,493 people had died out of a total of 8,997 cases in the outbreak now affecting seven countries, according to latest figures from the World ...

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