Limitations on market access are frowned upon by index compliers such as MSCI and FTSE, whose indices are tracked by trillions of dollars of institutional wealth globally
The UAE’s banking customers are five times more likely to say that their view of their banks has improved rather than worsened in the last six months
The number of millionaires in the country is expected to increase from 59,000 in 2015 to 96,000 by 2020
The amount was more than 2.5 times covered by contributions from banks
Cyber criminals had duped Aramco into making a payment for an order of naphtha from ONGC into their own bank account
The lender’s earnings were boosted by an 10 per cent year on year gain in net interest income, made from traditional banking operations
SABIC could make an announcement regarding the potential joint ventures in the first quarter of 2016, a senior official said
With oil prices, governments are having to shore up their finances by borrowing in the capital markets and investing less money in their banking systems
The Capital Market Authority told licensed brokers that they would have to open an account in the name of each client rather than using the name of the broker or someone else
Investcorp acquired properties in the metropolitan areas of Las Vegas, Denver, Chicago, Atlanta and Dallas, it said in a statement
Oil price volatility and a slowdown in economic growth could hit the GCC insurance industry’s growth this year, a new report shows
The kingdom is grappling with a budget deficit which economists estimate could total $120bn or more this year
Almost 70 per cent of Middle East businesses are family-owned, a new report shows
The fund, which is estimated to have more than $500bn of assets, is studying whether to liquidate assets that generate annual returns of below 9 per cent
Saudi Arabia has shown interest recently in purchasing flexible assault naval vessels like the Mistral helicopter carriers sold to Egypt as well as multi-purpose Fremm frigates
Export earnings of oil producing countries in the Middle East and North Africa region fell by $360bn in 2015
The report, however, warned that GCC governments’ capital spending levels could dip if oil prices continue to fall
The interest payments which IPIC said on Thursday it would be paying are on bonds belonging to 1MDB Energy Limited And 1MDB Energy (Langat) Limited
Investcorp’s latest deal complements other companies in its portfolio that have similar interests
The bank reported a net profit of QAR 3.11bn in the third quarter of this year
Both companies will bid for solar power projects that will be tendered at national and state levels, a statement said
Dubai’s stock index was up 1.0 per cent at 3,694 points after an hour
The refinery, the country’s largest is now operating normally, KNPC said
The UAE has been ranked as having the world’s second most developed Islamic economy ecosystem following Malaysia
Usman Ahmed will also head the bank’s Islamic investment banking division
The publicly traded certificates will be used to invest in mid-sized Mexican businesses that have strong growth potential
New EY report urges GCC governments to relook at existing pension fund models to ensure they are sustainable
The official said the bank would grow by “mid-single-digits” in 2015 and its capital was sufficient for this level
The offering from Emirates SembCorp Water & Power could raise up to $350m
Assets shrank 11.2 per cent from a year earlier to their lowest level since February 2013