Nawras plans to raise up to US$608 million in IPO

OMAN. Sets price range of 702-902 baisas; Final IPO price to be determined on October 24; Retail investors to subscribe initially at higher end.

• Egypt's balance of payments moves into surplus
• Dubai Holding unit to seek extension on US$555 million loan repayment, say bankers
• Winning IT strategies for the Retail CIO

Oracle hires former HP's Mark Hurd

INTERNATIONAL. Hurd, a close friend of Oracle CEO Larry Ellison will replace Charles Phillips, who has resigned, Oracle said in a statement on Monday.

• UAE Central Bank acts on Iranian accounts
• Barclays picks Bob Diamond as new chief
• Dubai Holding unit delays repayment of loan for second time

Oracle hires former HP's Mark Hurd

INTERNATIONAL. Hurd, a close friend of Oracle CEO Larry Ellison will replace Charles Phillips, who has resigned, Oracle said in a statement on Monday.

• Construction work starts at Brighton College School in Abu Dhabi
• Drake & Scull subsidiary awarded project worth US$38 million by CAMPCO Properties
• Independent research firm includes SAGE SA in banking tech report