Analyst news

• Goldman Sachs vindicated but bruised in court battle with Libyan fund

  16-10-2016 18:38 via news.yahoo.com
  
  By Claire Milhench LONDON (Reuters) - The outcome of a two-and-a-half-year legal battle between Goldman Sachs and Libya's $67 billion (53.88 billion pounds) sovereign fund is a triumph for the Wall Street giant, which was vindicated despite embarrassing revelations about how some of its bankers conducted business. The London High Court found in favour of Goldman Sachs on Friday, with Judge Vivien Rose dismissing the fund's arguments, made over the course of a bruising seven-week trial. While the
  
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• MIDEAST MONEY-Saudi regulator limits valuation changes in accounting shift

  16-10-2016 18:29 via news.yahoo.com
  
  * Listed Saudi firms to adopt IFRS by 2017 * IFRS rules could have allowed big swings in valuations * But regulator directs cost model to be retained initially * Impact uncertain for large, complex groups By Celine Aswad DUBAI, Oct 16 (Reuters) - Saudi Arabia's securities regulator has acted to prevent big swings in the valuations of companies' assets after they shift to new accounting standards next year. As part of efforts to bring the Saudi stock market into the global investing mainstream, t
  
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• MIDEAST STOCKS-Markets fall across region, NCB earnings hit Saudi

  16-10-2016 15:25 via news.yahoo.com
  
  * Saudi's National Commercial Bank misses Q3 estimates * Latest in a string of weak Saudi bank earnings * BUPA Arabia falls after Q3 profit drop * National Bank of Oman falls on earnings report * Orange Egypt jumps after deal to obtain 4G licence By Celine Aswad DUBAI, Oct 16 (Reuters) - The performance of banking shares weighed on Saudi Arabia's market index on Sunday after the largest listed bank reported profits below analysts' expectations, while indexes for other markets in the region also
  
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• MIDEAST MONEY-Accounting shake-up presents challenge for Saudi companies

  16-10-2016 12:28 via rocketnews.com
  
  * Listed Saudi firms to adopt IFRS by 2017
  * Asset revaluations could boost property companies
  * Higher depreciation charges could hit industrials
  * Impact uncertain for large, complex groups
  By Celine Aswad
  DUBAI, Oct 16 (Reuters) – Saudi Arabian companies already grappling with the effects of low oil prices and government austerity measures face a fresh challenge from new accounting standards that could provide windfall gains for some but saddle others with higher charges.
  As part of ef
  
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• BUZZ-Saudi's NCB falls on Q3 earnings miss as impairments rise

  16-10-2016 09:07 via news.yahoo.com
  
  ** Shares in National Commercial Bank, Saudi Arabia's biggest listed lender, fall 0.8 percent to 35.60 riyals ** Net profit in three months to Sept. 30 was 1.96 billion riyals ($522.74 million), down 1.6 percent from same period of 2015 ** Three analysts had forecast on average NCB would make quarterly profit of 2.31 billion riyals ** Bank cited 18. ...
  
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• Ooredoo Maldives to list on local stock market

  16-10-2016 08:27 via news.yahoo.com
  
  Ooredoo Maldives plans to sell part of its equity in an initial public offer on the island nation's stock exchange, its Qatar-based parent firm said on Sunday. The offer, made under the terms of its licence obligations, will be open to both local and international investors, Ooredoo said. Ooredoo Maldives is currently fully owned by Ooredoo Kuwait , which in turn is 92.1 percent controlled by Ooredoo.
  
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• Speech transcripts show Clinton avoided blaming Wall Street

  16-10-2016 01:37 via news.yahoo.com
  
  WASHINGTON (AP) — Hillary Clinton generally avoided direct criticism of Wall Street as she examined the causes and responses to the financial meltdown during a series of paid speeches to Goldman Sachs, according to transcripts disclosed Saturday by WikiLeaks.
  
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