MSCI is expected to announce whether it will include Saudi in its emerging market index later this week
Salah Amin replaces Jamal Bin Ghalaita, who is retiring.
The move came after the US Federal Reserve raised its target range for the federal funds interest rate by a quarter point
The company sold its 5.4 per cent stake for about $52m
Japan’s Softbank Group will participate in the fund as a strategic investor
Palmex received the licence from the Central Bank of Bahrain
Auctus is the second creditor, after Kuwait’s Public Institution for Social Security, to start legal action in the Cayman Islands
Demand for Middle East private equity funds has been hurt by allegations that Dubai’s Abraaj misused investor money
The affected firms failed to regularise their activities during a grace period given by the bank
Abraaj, which bankers estimate has debt of about $1bn, is grappling with allegations that it misused investor money
Kuwait’s Public Institution for Social Security has reportedly refused to join other creditors in the debt freeze
Survey finds that 41 per cent of UAE respondents plan to start saving in 2018
Mashreq sees opportunities in consumer and corporate banking, sources said
The standstill will see Abraaj’s $1bn debt frozen for around 90 to 120 days, sources said
Abraaj is being advised on the matter by US investment bank Houlihan Lokey
Cayman Islands chief justice Anthony Smellie described the AHAB dispute as “one of the largest Ponzi schemes in history”
Companies can now make their VAT payments in any of the 150 UAE Exchange branches in the country
Recently introduced qualification and indemnity requirements are expected to significantly reduce number of consultants
The resignations come even as Abraaj is facing allegations of misusing investor money
NCB said last week that former chief executive Saeed al-Ghamdi had resigned
Khalid Abdullah Al Muhairi has been appointed as the chairman of Abu Dhabi Securities Exchange
The research analysts covered dozens of companies from Central and Eastern Europe, the Middle East, Africa and Turkey
The bank bought a stake in Construction Products Holding for $75m in 2011
Located at the DIFC Gate Village, the development was completed in March
The kingdom implemented the tax at the start of the year
The company is looking to invest in consumer-led sectors and renewable energy
Consolidation has increased across the Gulf banking sector over the past two years
The talks come after Abraaj indicated it may step down as the manager of the fund
The agreement will expand Emirates NBD’s international presence to 13 markets
The futures will begin trading in the third quarter