The Islamic facility was arranged in June 2012 and was set to mature in 2020
The UAE has signed a deal with the US to implement the Foreign Account Tax Compliance Act from early next year, says financial firm
Growing private wealth and a slowdown in wealth creation in traditional Western markets made the Middle East an increasingly attractive option for the European lender
Going public, in any sense, is a transformational event. Wherever you plan to list, the…
Almost 90% of GCC business leaders admit market volatility – survey
The Fed decided to raise interest rates for the first time in nearly a decade yesterday
Palestine’s former prime minister said additional taxes could help the government boost revenues during the period of low oil
The announcement was made via Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed’s Twitter account
The firm’s last profit payment on its Dhs 4.4bn sukuk was issued in June this year
The joint fund will be managed and operated by Abu Dhabi’s Mubadala Development Company and two Chinese state entities
About 16 per cent of all ratings assigned to GCC banks were negative
The Swiss insurer said that it will fully close its general insurance business in the Middle East by 2016
An EY survey of GCC consumers found 64 per cent would feel comfortable switching to a digital-first bank
Islamic finance experts also push for standardised practices across the industry
The Amsterdam-based lender was penalised after some of its staff were found to have engaged in practices that breached rules set by the regulator
Julian Wynter was group head of internal audit for the lender and has also held country head roles in Malaysia and Japan.
The new investors do not plan any changes to the overall “strategy of the company and have no plans to buy rest of the outstanding shares,” a statement said
Kingdom Holding did not disclose the identity of the buyer
The statement comes as Standard & Poors cut its ratings for Saudi Arabia’s long-term foreign and local currency sovereign credit by one notch to ‘A-plus/A-1’
Standard & Poor’s cut its ratings for Saudi Arabia’s long-term foreign and local currency sovereign credit
Low oil prices, instability in the global economy and the prospect of monetary tightening have hurt sentiment
The Shura Council advises the government on legislation
Average salaries for professional occupations are set to rise by 1.7 per cent next year, finds Robert Half report
Net foreign assets at Saudi Arabia’s central bank fell 1.2 per cent from the previous month in September
Moderation in government spending will slow credit growth, tighten funding and weaken asset quality
The Qatari fund has acquired a 44 per cent stake in the Manhattan West project from Brookfield Property Partners
The company is seeking funds to refinance loans taken for the Emal projects, sources said
Rising rates might also impact the bank’s third quarter earnings, the lender’s chief executive said
Emaar Malls made a net profit of Dhs 376m in the three months to Sept. 30
The new premium banking offering will provide customers with a dedicated relationship manager available 24/7