* Anglo-South African financial group Old Mutual Plc reported consolidated full-year 2017 IFRS profit after tax attributable to equity holders of the parent of £909 million, up 59% from a restated year-ago profit of £570 million. CEO Bruce Hemphill told analysts that the group remained on course for the "material" completion of its breakup into four separate businesses.
* The African Export-Import Bank signed a memorandum of understanding with the Export Credit Insurance Corp. of South Africa to launch a $1 billion financing program to promote and expand trade and investments between South Africa and other African countries.
* The African Development Bank issued $2 billion of international bonds, Cbonds reported. The notes, maturing 2021, carry a coupon of 2.625%.
MIDDLE EAST AND NORTH AFRICA
* The Saudi Arabian Monetary Authority raised its repo rate to 225 basis points from 200 basis points and the reverse repo rate to 175 basis points from 150 basis points, effective immediately. The increase comes a week before the U.S. Federal Reserve meeting on March 21.
* Saudi Arabia-based conglomerate Saad Group, which collapsed in 2009, has requested a meeting with creditors in a final attempt to reach a deal and end a dispute over claims amounting to 16 billion Saudi Arabian riyals, insiders told Reuters. Saudi authorities are set to begin auctioning March 18 billions of dollars of assets belonging to businessman Maan al-Sanea and his Saad Group.
* Saudi Arabia picked Citi, Goldman Sachs, HSBC and Morgan Stanley as the main banks to arrange the country's next planned issuance of U.S. dollar-denominated bonds, insiders told Reuters.
* Investment firm Kingdom Holding Co., has restarted discussions with local and foreign lenders to raise as much as $1 billion in loans, weeks after chairman and owner, Saudi Prince Alwaleed bin Talal, was released from detention, insiders told Bloomberg News. The loan would reportedly be backed by the investment firm's stake in Banque Saudi Fransi.
* Saudi Arabian Finance Minister Mohammed al-Jadaan and Yemeni central bank Governor Mohammed Mansour Zammam co-signed a deposit agreement, under which $2 billion will be deposited in Yemen's central bank account to help boost the war-torn country's financial and economic situation, the Saudi Press Agency reported.
* Bupa's shareholding in Bupa Arabia will increase to 39.25% from 34.25% as a result of an agreement to acquire a portion of Nazer Group's stake in Bupa Arabia at 100 riyals per share, totaling 400 million riyals.
* Arabian Shield Cooperative Insurance Co. received regulatory approval to increase its capital through the issuance of bonus shares, from 200 million riyals to 300 million riyals.
* Malath Cooperative Insurance and Reinsurance Co. said it has been advised to increase technical reserves to meet potential claims and that it is expected to negatively impact the firm's financial results for fiscal year 2017. Malath will review the amount of reserves required and the financial impact and include the details in its 2017 results.
* CI Capital Holding Co. SAE said it intends to list its shares on the Egyptian Exchange through an IPO and will offer up to 246.9 million ordinary shares, representing up to 43.6% of its share capital following completion of the IPO and a capital increase. The Egyptian investment bank expects to complete its offering in the second quarter.
* The Israel Securities Authority said that cryptocurrency companies will be excluded from the Tel Aviv Stock Exchange indexes, Globes reported.
* UAE-based financial institution Finance House PJSC said it has purchased a further 925,000 shares in Insurance House PSC, bringing its total shareholding in the company to 45.15%, or 54,175,000 shares.
* Ahli United Bank KSCP signed an agreement to launch finance portfolio in partnership with Tamkeen. The new portfolio will be managed by the bank's Al Hilal Islamic Finance Services.
* The Central Bank of Oman raised the rate of interest payable on capital deposits to 1.5% per annum from 1% per annum, retroactively effective from Jan. 1.
* Fitch Ratings took various ratings actions on three Bahraini lenders, including downgrading the long-term issuer default ratings of National Bank of Bahrain BSC and BBK BSC to BB- from BB+, with stable outlooks, following a similar action on the sovereign. Fitch also downgraded Ahli United Bank BSC's long-term issuer default rating to BBB- from BBB+, with a stable outlook.
EAST AND WEST AFRICA
* Kenya has promised to repeal within six months a law capping interest rates on loans in exchange for a six-month extension of the IMF's $1.5 billion reserve credit facility that otherwise would have expired March 14, Financial Afrik said.
* U.K.-based Stanbic Africa Holdings Ltd. proposed to acquire up to an additional 59 million ordinary shares in Kenya-based Stanbic Holdings Plc, Reuters wrote.
* Central Bank of Nigeria Governor Godwin Emefiele told CNBC that the regulator will delay its next monetary policy committee meeting, initially set for March 19 and 20, until the first week of April at the latest, Reuters reported. A disagreement between the Senate and President Muhammadu Buhari over nominees for the committee prompted the central bank to cancel an interest rate-setting meeting in January and maintain rates at 14% due to a lack of quorum.
* Ivory Coast issued a eurobond with a 29-year maturity, the longest maturity ever for a euro-denominated bond from sub-Saharan Africa, as part of the state's attempt to plug a €2 billion hole in its budget, Financial Afrik wrote.
CENTRAL AND SOUTHERN AFRICA
* Former Angolan central bank Governor Valter Filipe da Silva was charged by the country's prosecutors' office in relation to an alleged fraud against the government, in which $500 million was attempted to be transferred in 2017 from the central bank to an account in the U.K., according to Reuters.
* Mauritian Prime Minister Pravind Jugnauth described President Ameenah Gurib-Fakim's decision not to resign from her post as "deplorable and unworthy," Reuters reported.
IN OTHER PARTS OF THE WORLD
Asia-Pacific: UBS merging Asia-Pacific units; Punjab National Bank detects more fraud
Europe: BNP Paribas in final talks to buy RBI unit; Munich Re launches €1B buyback
Latin America: BNDES profit falls slightly in 2017; Sura sets up Mexican unit
North America: Senate passes Dodd-Frank revision bill; Wells Fargo faces sanctions
North America Insurance: California mulls public insurance option; GOP health proposal will cut premiums
In yesterday's Daily Dose feature, some email alerts were not sent because of technical issues.
Sheryl Obejera, Henni Abdelghani, Pádraig Belton and Mariana Aldano contributed to this report.
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