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China's Kaisa to unveil offshore debt restructuring plan HONG KONG: China property developer Kaisa Group Ltd will hold a conference call for its offshore bondholders next week to discuss a proposed restructuring plan, a notice on the company's website said.The call, to be held on Monday morning at 1000 local time(0200 GMT), will provide an overview of the struggling homebuilder's current situation, the proposed acquisition of the company by Sunac China, and its restructuring plan.Kaisa has been mired in crisis since late last year after the local government in its home base of Shenzhen blocked sales at some of its projects in the city and the subsequent departure of a string of senior executives.Its restructuring is being closely watched by offshore investors in Chinese corporate debt as it will be the first property developer to go through the process, providing a guide as to how foreign creditors might be treated in similar future situations.Analysts said they expect the ...

China grants 20 more Internet brokerage licences SHANGHAI: China has granted online brokerage licences to 20 firms in a fresh round of approvals, showing the growing interest in the sector as Internet finance takes off in the country and greater retail interest boosts brokers' earnings.Among the brokerages that received the new licences were Soochow Securities Co Ltd, Shanxi Securities Co Ltd and China International Capital Corp, according to a list published on the Securities Association of China's website.The government made its first ...
Dubai's Damac Properties proposes 10pc bonus share issue DUBAI: Dubai's Damac Properties has proposed a 10 percent bonus share issue equivalent to 500 million dirhams ($136.1 million), the developer said in a bourse statement on Monday.Earlier this month, Damac reported a fourth-quarter net profit of $249.8 million, up 11 percent from the year-ago period.DAMAC's 2014 full-year profit was $937 million, up from $641.5 million in 2013, the company said in a filing to London's bourse.Copyright Reuters, 2015 ...
Shares in Realia surge after FCC cancels sale plans MADRID: Shares in property firm Realia surged as much as 19 percent on Friday after core shareholder, Spanish builder FCC, said late on Thursday it would not sell its 37 percent stake in the firm.Realia is majority owned by FCC and bailed-out lender Bankia. It has been on the market for a year and is one of the few Spanish property groups to have survived the country's 2008 real estate crash.Copyright Reuters, 2015 ...
Saudi Dar Al Arkan Q4 profit up 9 pct, misses view DUBAI: Saudi Arabia real estate firm Dar Al Arkan posted an 8.9 percent increase in fourth-quarter net profit on Monday, missing analyst forecasts despite higher margins on property sales and lower costs.The company made a profit of 156.8 million riyals ($41.81 million) in the three months to Dec. 31, up from 144 million riyals in the prior-year period, according to a bourse filing.Analysts polled by Reuters on average forecast Dar Al Arkan would make a ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln