UK woos Saudi Aramco with new IPO rules

London is seen as one of the frontrunners for what is expected to be the world’s largest IPO

Bahrain’s Investcorp sells Spanish firm Esmalglass for $693m

Investcorp had bought Esmalglass in July 2012

Goldman, JPMorgan, HSBC vie for lead roles on ADNOC retail unit IPO

The listing of ADNOC’s distribution business is planned before the end of the year

Middle Eastern debt issuance up 53% in H1

Despite the increase, banking fees fell 15 per cent during the period

National Bank of Kuwait Q2 net profit up 10.7%

The bank’s net profit for the first half of the year rose 9.3 per cent due to higher net interest income

Qatar says has $340bn in reserves, can weather Arab sanctions

The Qatar central bank claims to have $40bn in reserves plus gold, while the QIA has $300bn in reserves

Dubai Financial Market expects two listings this year – report

The stock market has met with six or seven firms to discuss potential listings, an official has said

How to measure the greenness of finance

Green bonds are gaining traction in the Middle East

Three ways Fintech is transforming everyday life

FinTech comes to the fore in the GCC

With advances in financial technology developing at pace, we look at how the GCC fits into the global picture

Abu Dhabi fund ADIA eyes direct private equity investments

ADIA last year broadened its focus in Asian private equity markets, particularly China and India

Expat dependent fee takes effect in Saudi Arabia

Residence permits will not be renewed and exit/re-entry visas will not be issued for expatriates unless the fees are paid

UAE’s Abraaj to fully acquire African coffee chain Java House

The acquisition was made from private equity firm Emerging Capital Partners

Qatar stock index sinks 3.1% ahead of deadline in GCC diplomatic crisis

Stocks tumbled across the board on Sunday, with 41 lower and only one higher

Saudi GDP falls for first time since financial crisis

GDP, adjusted for inflation, shrank 0.5 per cent year-on-year between January and March, its first fall since 2009

The mysterious (and continuing) fall in Saudi foreign reserves

The kingdom’s net foreign assets shrank by $36bn in the first four months of 2017

Bahrain’s Gulf International Bank obtains retail licence as part of digital push

The bank plans to launch digital banking services in Bahrain next year

Qatar riyal FX market in chaos as GCC diplomatic row continues

Bankers in the region believe the riyal’s peg to the dollar remains solid

How VAT legislation will change business set up models in the UAE

Group VAT registrations and how they affect UAE businesses

Qatar’s three-way bank merger aims to be completed by year-end

The merger will create the country’s second largest lender

Restoring Saudi state allowances will cost SAR5-6bn

Riyadh slashed the allowances last September to save money

Saudi restores public sector allowances as new Crown Prince appointed

The order is anticipated to restore six months of annual bonus to state employees

Saudi could be upgraded to emerging markets status by MSCI in 2019

MSCI estimated 32 major Saudi stocks would gain emerging market status

Qatar sovereign fund deposits dollars in local banks as precaution

New deposits by the Qatar Investment Authority were believed to total several billion dollars, a source said

Barclays and four of its former bosses charged over 2008 Qatar fundraising

Barclays said it was considering its position over the charges and awaited further information

UAE President restructures board of Abu Dhabi wealth fund ADIA

The Abu Dhabi Investment Authority is one of the world’s richest sovereign wealth funds

UAE’s Dana Gas gets injunction from English court blocking claims on $700m sukuk

The Abu Dhabi-listed energy company announced last week that its outstanding sukuk were not sharia-compliant and were therefore unlawful

Dana Gas’s sukuk holders say firm’s offer “repudiation” of English law

Dana said on Tuesday it had received legal advice that its Sukuk, which mature in October, were not compliant with the Islamic sharia code

Abu Dhabi investigators foil attempt to steal $173m from UAE bank account

Nearly 40 Asian and European individuals have been arrested in connection with the crime

Bahrain launches new rules for fintech firms

Bahrain’s framework provides a virtual space for companies to test their technology-based ideas

Abu Dhabi’s Dana Gas gets injunction blocking claims on $700m sukuk

Dana announced on Tuesday that it had recently received legal advice that its Sukuk were not sharia-compliant