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Ashmore to buy 40% Petron stake

The Philippines cleared Ashmore, the emerging markets investment fund, to buy Saudi Aramco’s 40 per cent stake in Petron Corp, the country’s biggest petrol refiner, for $550m

Closer look for bargain assets

Zabeel Investments, an equity investor with ties to Dubai’s ruling family, is making forays into the US property market with an eye on the opportunities available there

Arcapita seeks to get its hands dirty

The Islamic investment bank is focusing on pushing into the Middle East and Asia as its blend of private equity, real estate and infrastructure investment seeks new markets

Middle East operator eyes MTN

The prospect of a bidding war for MTN, a fast-growing mobile phone operator in emerging markets, increased after a leading Middle East telecoms group expressed interest in the Johannesburg-listed group

Shell and Repsol drop Iran gas project

Pair’s withdrawal from the $10bn-plus development deals heavy blow a blow to Tehran’s attempts to expand its energy exports in the face of US and international sanctions

Spanish gas groups fear reliance on Algeria

Some executives are wary of Sonatrach’s entry into southern Europe’s gas market, going so far as to describe the African state’s energy company as a ‘Gazprom on the Med’

Editorial Comment: Living in a world of $200 oil

Another doubling in oil prices is about conceivable. It would cause serious economic disruption, global tension and currency crises for some poor nations

Dubai’s Minerva bid ends months of speculation

The Dubai government has launched a takeover approach for the London developer, after a period of months in which other suitors revealed their interest

Citi moves executive to Middle East

Citigroup is preparing to signal the growing importance of Middle East clients for its investment banking division by moving one of its global heads to the region

Austin Reed intends to expand

The clothing retailer announces increased profits 18 months after it was taken private by Dawnay,Day, the investment group

Bank opens the door to Europe

Hedge funds to put down roots in Middle East

Spencer keeps Africa close to heart

Spencer launches Africa fund

DIC turns to emerging markets

The Arab comic-book hero

Lex: Bharti and MTN

Saudi green light for Nomura

NBK chief raises red flag on risk

Abu Dhabi fund seeks credit rating

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