Stake Sale Plan Behind Ooredoo’s Potential London Listing?

London Zoo announces birth of Sumatran tiger cub, critically endangered species

Regulator to Highest Fines in a Decade By Suzi Ring – 2013-10-04T15:11:31Z The U.K. finance regulator recorded its largest month of fines in more than a decade in September, buoyed by a 137.6 million-pound ($221.2 million) penalty against JPMorgan Chase & Co. (JPM) over the London Whale debacle. Industry fines totaled 169.5 million pounds last month and brought total penalties from the Financial Conduct Authority in 2013 to 339.5 million pounds, according to statistics published today by Wolters Kluwer NV (WKL) , Europe s largest tax and legal publisher. The year-to-date total is larger than any other full year since 2002. The regulator fined JPMorgan as part of a probe into losses exceeding $6.2 billion on a derivatives position built by a trader who came to be known as the London Whale because his bets were so large. The past year has also seen the regulator punish banks embroiled in the scandal over rigging of the London Interbank Offered Rate, or Libor. The FCA is endeavoring to keep up with the international trend towards greater levels of fining and is continuing the trajectory started in the U.K. by the Financial Services Authority in its latter years, said Barnabas Reynolds, a London lawyer at U.S. law firm Shearman & Sterling LLP. The FSA became the FCA in April this year. FCA fines increased considerably last year hitting 313.4 million pounds at the end of 2012 compared with 66.1 million pounds in 2011.

A secondary listing in London has some obvious attractions for companies in the Middle East global visibility, diversified investor base and increased liquidity: not surprising then that Qatar-based Ooredoo, a regional telecom giant with global growth aspirations, is considering such a move. The telco, formerly known as Qatar Telecom, has sent out a request for proposal to banks to study the merits of a secondary stock market listing in London, bankers familiar with the matter say. Besides the obvious, the plan for a secondary stock listing could also mean that Ooredoo whose GDRs already trade sparsely on the LSE may be looking at raising fresh cash and/or that a big investor is looking to sell down its stake. The telco is majority-owned by the Qatar government and counts the Abu Dhabi Investment Authority as one of its biggest shareholders, according to data. For the Qatari government, a partial stake sale would still leave them in control of the company, while helping raise cash to fund some of the Persian Gulf states ambitious spending plans. Whatever the reason, a London listing is expected to help garner a better valuation, or at least that would be the belief behind such a move. After all, the local Doha-based market isnt very liquid and any big stake sale there will likely impact its stock price. Ooredoo shares last traded at QAR140.90 on the Qatar Exchange, far lower than the QAR157.97 that investment bank EFG Hermes values them at. Victor Sunyer, a director at Delta Partners, a telecom advisory and investment company, reckons it also makes increasing sense for operators that have a more diversified portfolio to pursue a listing abroad. Here they have a very narrow investor base and they are bound by the local markets. The Qatari telco, which has been aggressively expanding abroad, operates subsidiaries across the Middle East, North Africa and South East Asia. But not all agree to the benefits of a secondary listing.

London steals title of best city in the world from Paris

Zoo keepers kept a careful eye on the first-time mum through hidden cameras installed to keep watch without disturbing her. By Associated Press, LONDON Call it Cub Cam: Hidden cameras have captured the birth of a Sumatran tiger cub, London Zoos first in 17 years. The zoo announced Wednesday that five-year-old tiger Melati had given birth to the cub over the weekend following a six-minute labor. Craig Whitlock and Anne Gearan The primary mission for the long-range Global Hawks will be to keep watch on North Korea. Rise of Islamist extremists threatens Syrias Christians Loveday Morris Syrias conflict is threatening its reputation as one of the most religiously diverse countries in the Middle East. Kerry, Hagel vow U.S. wont be fooled by Iran Anne Gearan and Craig Whitlock Cabinet leaders insist they will go into Iran talks with eyes open but say the U.S. also has a duty to try. It said zookeepers had kept Melatis 105-day pregnancy under wraps so they could keep a careful eye on the tiger, installing hidden cameras so as not to disturb the first-time mother. The cub is the grandchild of the zoos last tiger cub, Hari the father of Melati. The cub whose sex and name are not yet known was born six months after the opening of the zoos new tiger territory exhibit, which is designed to encourage breeding of the critically endangered species. The zoo said its new arrival will not be shown for a few weeks.

Here are the top 10 best cities for 2013: 1. London WASHINGTON (AP) President Barack Obama decided to stay home from economic summits in Asia as Democrats stepped up pressure on congressional Republicans to rein in their tea party faction and reopen the government with no strings attached. Associated Press When fall weather has us hankering for a bowl of warmth, we tend to think of chili and beef stew. Associated Press LOS ANGELES (AP) An attorney in a municipal corruption case that nearly bankrupted a struggling Los Angeles suburb complained bitterly in court Friday about a judge’s decision to allow the chief defendant to plead no contest in an unannounced hearing. Associated Press Busan (South Korea) (AFP) – With box office takings in Asia growing faster than anywhere else in the world, more studios from Hollywood and beyond are seeking local partners to tap into the region, say industry players. AFP Conakry (AFP) – Guinea’s opposition called on Friday for the annulment of parliamentary elections held on September 28, alleging that the vote had been tarnished by widespread fraud. AFP31 mins ago Tunis (AFP) – The Tunisian press voiced scepticism Friday on the eve of crisis talks between ruling Islamists and their secular rivals following the July assassination of a prominent opposition MP. AFP New details emerged about the life of Miriam Carey on Friday, the day after she rammed barricades and led police on a car chase near the U.S. Capitol. Eric Spillman reports from the KTLA newsroom on Oct. 4, 2013. KTLA – Los Angeles Yahoo asked Americans signing up for coverage under the Affordable Care Act to share their experience and tell us why they’re seeking health insurance through the marketplace exchange that launched Oct. 1.