Daily brief: Egypt expects $4bn in Eurobond sale, Iran back at the Oscars
Egypt is set to sell $4 billion of Eurobonds in three tranches at lower yields than initially expected. Here are the top seven business stories you need to know today.
Saudi oil output, exports to drop in January, data shows
Saudi Arabia’s oil output is likely to drop to around 9.9 million barrels per day in January and exports are down from December, according to industry sources and shipping data, as the OPEC heavyweight plays its part in a global supply-cut deal.
Iran returns to Oscar race with ‘The Salesman’
Iran returned to the Oscar race on Tuesday with domestic drama “The Salesman” in a foreign language film category that included a Danish war drama, a quirky German comedy, Australian entry about a remote Pacific tribe, and the tale of a grumpy Swede.
Real Madrid logo won’t feature Christian cross in Middle East clothing deal
The club crest of Spanish soccer team Real Madrid will not feature the traditional Christian cross on clothing sold in some Middle East countries under a regional deal, after Marka, a retailing group which has been granted exclusive rights to manufacture, distribute and sell Real Madrid products across the region, said it would use the version without the Christian cross due cultural sensitivities.
Dubai airport capacity limits to slow passenger growth as emirate’s new hub emerges
Dubai International Airport, the hub for Emirates airline, expects passenger growth to slow over the next eight years due to capacity limitations, the operator’s chief executive said on Tuesday.
Egypt expects to raise $4 billion in Eurobond sale
Egypt will sell $4 billion of Eurobonds in three tranches, raising twice as much as targeted when it began a roadshow last week, and at lower yields than initially expected, bankers involved in the deal said on Tuesday.
Saudi Aramco asks banks to pitch for world’s largest share sale
Oil and gas company Saudi Aramco has invited banks to pitch for an advisory position on what is expected to be the world’s biggest initial public offering, sources familiar with the matter told Reuters on Tuesday.
Mining firms see little appeal in Egypt’s gold exploration terms
The gold beneath Egypt’s desert could make it a top global producer, but the investment terms on offer are driving away small explorers whose skills the country needs to unlock its mineral wealth.