Saudi’s stock market fell 8.6 per cent from the beginning of May until Thursday’s close
Author: Mary Sophia
Indonesia lists two green sukuk valued at $2bn on Nasdaq Dubai
Sukuk listings in Dubai now total $61.5bn, the largest amount of any listing centre in the world
UAE’s tax authority to start penalising violators of tobacco scheme
Penalties have been set for nine types of violations, with fines reaching up to Dhs50,000
Most GCC stock markets fall as banking shares drop
Dubai’s index is down 7.4 per cent this month, though still up 1.3 per cent year-to-date
Saudi court accepts AHAB’s bankruptcy filing, rejects liquidation
The bankruptcy filing was seen as a key test of Saudi Arabia’s new law for handling insolvency disputes
UAE investors are among the world’s most optimistic – survey
UAE investors were found to be extremely bullish on equities, according to the survey by UBS
Saudi mall operator Arabian Centres falls below IPO price in first trading
Arabian Centres’ share sale was the kingdom’s third biggest since Saudi lender NCB raised $6bn in 2014
Developer Arada gets $1bn loan for two major Sharjah projects
The two Islamic facilities will be used to finance the Aljada and Nasma Residences projects
Property props up Dubai stock market
The index has risen only 0.3 per cent this year, while it has lost 7.7 per cent since the beginning of May
Saudi fines 16 banks, including Dubai lender for ‘violations of responsible finance’
The violations related to the percentage of debt that individuals had to bear in proportion to their monthly income
Saudi imposes tax on e-cigarettes and sugary drinks
The kingdom will levy a 100 per cent tax on electronic cigarettes and products used in them, and a 50 per cent tax on sugared drinks
Finding investment opportunities in the education sector
At an exclusive event hosted by Gulf Business and Allied Investment Partners, leading experts discussed investment within the education sector
IMF urges Saudi to consider raising VAT rate
The IMF said the introduction of a value-added tax has been very successful, but the rate is low by global standards
Goldman Sachs bought Commerzbank’s claim in Saudi’s biggest debt saga
The US investment bank bought $100m of Bahraini bank International Bank Corporation’s debt
MSCI adds Saudi Arabia to emerging markets index
A total of 30 Saudi Arabian securities would be added to the index
UAE’s Finablr extends IPO closing by a day to May 14
The company has been seeking to raise $200m from the sale of new stock ahead of a flotation on the London Stock Exchange
Saudi, Dubai stock markets drop after tanker attacks
Two Saudi oil tankers were among vessels targeted by a “sabotage attack” off the coast of the UAE
Kuwait assembly urged to debate expat remittance tax bill
The bill states that foreign workers would be taxed by up to 5 per cent on their money transfers abroad
Abraaj founder given more time to raise bail
Naqvi was arrested in the UK last month and has been awaiting possible extradition to the US where he faces charges of fraud
Dubai’s Emirates Investment Bank CEO resigns
Khaled Sifri joined the bank in 2008
Abu Dhabi’s Gulf Capital, Waha Capital have held early merger talks
The talks have taken place over the last few months and may or may not lead to a deal
Saudi’s Arabian Centres prices IPO at lower end, books covered
Arabian Centres owns 19 malls, making it the leading owner and operator of shopping malls in Saudi
Abraaj founder does not post $20m bail, remains in jail
Arif Naqvi was granted bail on Friday by the UK court
UAE’s Majid Al Futtaim to raise up to $650m in green sukuk
The proceeds of the sukuk will back environmentally-friendly projects
Abu Dhabi’s ADCB’s Q1 profit falls 5%, sees cost synergies from three-way merger
ADCB finalised the bank’s integration with Union National Bank and Al Hilal Bank last week
Saudi stock market plunges to nearly eight-month low
Oil prices weighed on Saudi’s financial and petrochemical shares
Saudi Telecom issues $1.25bn debut sukuk
Saudi Telecom’s new bonds will be listed on the Irish Stock Exchange
Abraaj founder wins bail appeal in London
He is accused of defrauding US investors by inflating positions held by Abraaj in order to attract greater funds from them
