* The U.K. Financial Conduct Authority is pressing ahead with plans to create a new category within its premium listing regime, effective July 1, that exempts state-controlled companies from certain requirements, seen as a controversial move to help attract Saudi Arabian Oil Co.'s planned IPO to London. The FCA said the new listing category will exempt a country from having to enter into a controlling shareholder agreement with the company it controls, adding that the requirement "can be impracticable" for sovereigns.
* Saudi Arabia has started increasing oil output as prices have risen again and amid complaints from big consuming countries including the U.S., The Wall Street Journal reported, citing oil officials in Riyadh. The move comes ahead of a June 22 meeting of countries belonging to the Organization of the Petroleum Exporting Countries and other oil producing nations, including Russia.
* Saudi Arabia, Kuwait and the United Arab Emirates issued a joint statement pledging as much as $2.5 billion in support of Jordan, including a deposit into its central bank, to help the country weather ongoing political and economic crisis, Reuters reported, citing Saudi state news agency SPA.
MIDDLE EAST AND NORTH AFRICA
* Qatar's Commercial Bank PSQC
* In its forensic review of two of Abraaj Group Ltd.'s
* Separately, al-Zaabi said the regulator is planning to launch a "green securities index" as part of the sustainability project of the local financial market it recently launched, AlIttihad reported.
* Al Hilal Bank PJSC
* Shuaa Capital PSC
* Gulf Union Co-operative Insurance Co.'s shareholders approved the board's proposal to reduce the company's capital by 18.37% to 400 million Saudi Arabian riyals from 490 million riyals, in a bid to offset losses.
* Oman International Development & Investment Co. SAOG
* The Libyan central bank said it plans to impose fees on foreign currency transactions as part of efforts to bridge the gap between the official and black market rates, Bloomberg News reported. The country's official exchange rate is around 1.36 dinars to the U.S. dollar, while on the black market, the rate is at around 6.2 dinars to the dollar.
* A.M. Best upgraded the long-term issuer credit rating to "bb+" from "bb" and affirmed the financial strength rating of B (Fair) of Al Ittihad Al Watani (L'Union Nationale) Société Générale D'Assurances du Proche Orient SAL. The outlooks of these ratings were revised to positive from stable. Separately, the agency affirmed the B++ (Good) financial strength rating and the "bbb" long-term issuer credit rating of Lebanon-based Bankers Assurance SAL, with stable outlooks.
EAST AND WEST AFRICA
* Nigerian President Muhammadu Buhari approved the nomination of Folashodun Adebisi Shonubi as deputy governor of the country's central bank, The Guardian reported. The appointment remains subject to Senate confirmation.
* Tanzanian tycoons Aunali and Sajjad Rajabali have acquired 7 million Equity Group Holdings PLC
* Eveline Tall has been named executive chairman of Senegalese private equity firm M&A Capital, Financial Afrik reported.
CENTRAL AND SOUTHERN AFRICA
* Moody's downgraded Gabon's issuer and senior unsecured debt ratings to Caa1 from B3 and revised the outlook to stable from negative, citing the government's heightened liquidity pressures and continued institutional weaknesses.
* South African insurer Sanlam Ltd.
* A South African police unit dubbed the Hawks has raided the Johannesburg and Durban branches of India-based Bank of Baroda and seized documents as part of an ongoing investigation into corruption allegations involving former South African President Jacob Zuma and the controversial Gupta family, Reuters reported. Bank of Baroda emphasized that the operation was related to the Hawks' investigation into the Guptas and not an investigation into the lender, The Economic Times noted.
* South African Finance Minister Nhlanhla Nene said the government will step up its "defense mechanism" amid "very challenging times" in the country's economy, Reuters wrote. The rand dropped to 13.2875 against the U.S. dollar on June 8, its lowest level so far this year, the newswire noted.
* Mauritius-based SBM Holdings Ltd.
* Angola's kwanza has depreciated by 34.1% against the euro since the country's central bank abandoned its currency peg in January, Macauhub reported.
IN OTHER PARTS OF THE WORLD
Asia-Pacific: Dai-ichi Life top contender for Suncorp life ops; ICICI Bank faces US scrutiny
Deza Mones, Henni Abdelghani, Sophie Davies and Helen Popper contributed to this report.
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