The value of the sale was not disclosed
The new mechanism could potentially impact millions of expats who live and work in the kingdom
A high profile event in Madrid highlighted the growing ambitions of European countries in the realm of Islamic finance
The firm attributed the profit drop to lower income from associates and joint ventures
Mubadala will buy 9.99 per cent of Investcorp immediately
The bank posted a 4.8 per cent fall in second-quarter net profit
Dubai’s average residential real estate price plunged 11 per cent in 2015
New regulation lowering requirements on foreign investors and allowing them to own larger stakes was expected in 2017
Revenues also fell by around 44 per cent to Dhs 100m in the second quarter
Most UAE residents do not buy home and personal belongings insurance policies
The bank employs around 200 people in Lebanon
The company has around $6bn of claims against it collapsed in 2009
Violators could face fines of up to Dhs 100,000
Verifone MENA vice president and general manager Ozgur Ozvardar on what’s next for the industry
Fees for completed M&A deals fell but there was a significant increase in syndicated lending fees and debt capital fees
In US dollar terms, the 20-year annualised rate of return on ADIA’s portfolio fell to 6.5 per cent in 2015
Barclays has begun a formal process to sell its Egyptian unit
The bank made a net profit of Dhs 1.91bn in the three months to June 30
The investment fund could buy up to 15 very large crude carriers
The slowing was most evident in Dubai, according to a central bank survey
S&P said sovereign creditworthiness in the Middle East and North Africa had continued to decline this year
Billionaire Prince Alwaleed’s firm agreed to exchange its stake in FRHI last December
The bank’s profit was boosted by its purchase of Turkey’s Finansbank
Any privatisation plans in Kuwait will not include its oil production facilities
UK bank financing to the GCC may slow, but impact will be minimal
The rise in allowances is partly because of a few organisations doing a market correction
Brexit vote and pound devaluation impacted amount sent by UK expats
Markets will share information on banking, financial services, security and regulations
The all-share index closed at 6,499.88 points in the first half of the year
Joseph Abraham succeeds Abdulla Saleh al-Raisi