The lender attributed improved revenues and cost controls for the growth in profit
Low oil prices have raised speculation that the riyal could be unpegged from the dollar
Regional governments can generate at least 10 per cent of their gross domestic product through a number of non-tax revenue options, new research shows
Director-general of the Arab Monetary Fund says the industry grew 20 percent between 2000 and 2015
US bank warns of further declines if the currency’s strength continues
Insurance requests were up three times the average during the first week of the year, finds new survey
Banks need to provide an optimised and consistent user experience across all channels
Budgeting will come more easily the longer you stay with it, writes Jamie Scott
Benefits such as bonuses could also be affected as earnings predicted to grow at slowest rate in three years in 2016
Retail slowdown could mean bigger discounts with ‘part-sale’ already starting at 30 per cent
The recent Fed rate hike may have consequences for the GCC economies in more ways than one, writes Binod Shankar
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 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
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’