MSCI will decide in June whether to review Saudi for inclusion in its emerging market index
The talks are at an early stage but “signs so far are positive”, a source said
The new initiative, called FinTech Hive, will focus on providing mentorship to start-ups and entrepreneurs
Emirates NBD noted a jump in construction activity and sentiment during the month but relatively little job growth
The move is part of a drive to attract more foreign investment
The government is due to get commitments from banks over the next two weeks for a $3bn loan
The company holds stakes in Emirates Airline and Emirates NBD
The new rules include limits on risk exposure and annual report requirements
Kuwait’s emir appointed previous chairman Essam Abdul Mohsen al-Marzouq to head the oil ministry
Michael Hasenstab, chief investment officer of Templeton Global Macro, looks at how emerging markets across the world might perform in 2017
No specific reason was given for the departures
QIIB plans to open a bank in Morocco with local lender Credit Immobilier et Hotelier
The amount represents an increase of 424 per cent compared to 2015, according to Magnitt
The company said it approached financiers to wave “a number of restrictive covenants” in its original restructuring terms in 2014
The move could increase trading liquidity in the market
The government is mulling changes to income tax and changes to fees charged for hiring foreign workers
On Wednesday, Utico CEO said that PIF planned to buy a “significant minority stake” in the utility
The new tariff system is anticipated to particularly impact drivers of vehicles worth Dhs50,000 or less
Deposits fell earlier this year as the government placed less money with domestic banks
Public Investment Fund (PIF) has entered into a binding agreement with the private utility provider
The lender’s deputy group CEO is among those leaving, according to sources
Kuwait plans to sell as much as $10bn of US dollar-denominated bonds in international markets
The move is hoped to help ADX boost liquidity and attract more foreign investors
The stake will be used to support the bank’s expansion, said Shuaa
The kingdom is reportedly discussing plans to impose a tax of between 2 to 6 per cent on remittances
A merger of two state-owned firms will create a new bank for OFWs
The country is seeking to clamp down on commission-led products, according to Globaleye
Fees from the Middle East reached $581m during the first nine months of 2016
The new bank would be run in compliance with Islamic banking principles
Careem said the cash would be used to help with its expansion plans