The firm aims to raise $25 million in an initial public share offering (IPO).
The refinery could be converted into a storage terminal or might be shut down permanently following the cancellation of the investment, an official said.
Erich Pfister joins the bank from Credit Suisse, where he was head market area United Kingdom and international.
Money raised from the offering will be used to fund upgrades of its network infrastructure as well as expand its super-fast 4G LTE offering in the kingdom.
The group will acquire almost 10 per cent stake in British trading firm East India Company along with a 40 per cent share in its fine foods subsidiary.
Under the reported plan, HP will separate its computer and printer businesses from its corporate hardware and services operations.
With Europe flirting with deflation, Japan not far from recession and a slowing economy in China, there are worries the recovery from the deep 2007-2009 crisis is losing traction.
Private Banking in the region is set to grow further this year, as nationals switch from protecting their wealth to growing it.
The developer is also looking to list its hospitality unit following the $1.6 billion Emaar Malls Group listing last month.
Mergermarket attributed the sharp decline in total values to the lack of inbound mergers and acquisitions.
Emaar sold a 15.4 per cent stake in Emaar Malls Group (EMG) in an initial public offer last month, raising $1.6 billion.
DFM chairman Essa Kazim said that the bourse expects to receive one more listing before the year-end.
Emaar’s shares, which were sold at Dhs2.90 in the heavily oversubscribed IPO, rose to Dhs3.49 on the market.
The bank will book a profit of KD25 million from the sale in its 2014 accounts, it said in a bourse filing.
The bank will sell 300 million shares to Saudi individual investors and 200 million shares to the state-run Public Pension Agency at a price of SAR45 per share.
The introduction of debt listing and trading is expected to expand the exchange’s activities and make it easier for local companies to sell debt instruments.
The Portuguese financial group’s problems have been escalating since accounting irregularities were identified at one of its holdings earlier this year.
The bond represents the cheapest five-year funding raised by Emirates NBD in the last six years.
Bourses in Saudi Arabia, Qatar, Kuwait and Oman will close for the whole week starting October 5.
NBF Islamic will offer a series of retail banking products in the initial stage but the bank plans to diversify Islamic offerings.
Under the new deal, the repayment date of the biggest chunk of debt under Dubai World’s $25 billion restructuring would be extended.
Rashad Ali al-Musafir, the bank’s chief financial officer, would replace Kalmoor as acting CEO for an interim period, the bank said in a bourse filing.
The Dubai-based port operator has been accused of bribery by the Djibouti government.
The statement follows the Investment Corporation of Dubai’s stake purchase in Dangote Cement in September for $300 million.
In exchange for the plot of land, Barwa received QAR1.04 billion in cash, while the government also settled QAR1.5 billion of the developer’s bank loans.
Investor orders topped $1.6 billion for NBO’s issue, a source with knowledge of the deal said.
Al Nowais Investments, an Abu Dhabi-based private firm is leading a consortium to build Egypt’s first coal-fired power plant in the Suez area.
Funds dedicated to sukuk are a rare breed, with only 20 currently marketed in the Gulf.
Global’s management team comprising Group CEO Ghunaim, CEO Bader al-Sumait, and executive vice presidents had resigned prior to its general meeting in September.
The International Monetary Fund did not give details of the reforms and government officials were not available for comment.