Under the deal, a portion of the mixed-use retail development will be funded by ADCB
UAE consumer inflation rose 4.9 per cent year-on year in August while it rose 0.9 per cent month-on-month
Gulf currencies pegged to the US dollar have come under pressure but Fitch said that the decision to remove the pegs will most likely be political
Emirates NBD did not provide any more details of the potential offer
The certificates, rated BB by Standard & Poors, were issued by its unit Damac Real Estate Development Ltd
The real estate entities rated by S&P have “sufficient headroom in their credit ratios” to handle the slowdown, the agency said
The bank aims to help facilitate investments from the Gulf region into Africa, primarily Nigeria, says CEO
Financiers are concerned their talent will be lured away by the “attractiveness” of Western markets, survey finds
Gains from financial investments failed to offset lower income from disposals and higher costs
The kingdom issued new regulations governing credit agencies’ operations in Saudi Arabia last year
The service will allow customers to tweet the bank for enquiries about their current or savings account and credit cards
Price guidance for the five-year bond was maintained in the area of 7 per cent
Qatar National Bank has been granted a license to open a branch inside the kingdom
Swiss authorities are involved because transactions related to the probe involved Swiss financial institutions, a source said
The UAE and Saudi Arabia have fared better than their GCC counterparts because of economic diversification, says report
The three-year facility is structured as a bullet loan which means the principal will be repaid at the end of the term
Employees in the kingdom are expected to record a 5 per cent salary hike in 2016, the report by Hay Group found.
The bank said last month that its board had proposed the Basel III compliant bond, subject to shareholder and regulatory approval
KPMG Saudi Arabia’s managing partner Tareq al-Sadhan is leaving the company at the end of December
A drop in oil prices, which hit a six-and-a-half-year low last month, has pushed some Gulf state budgets into deficit for the first time in years
The Saudi economy is forecast to keep expanding strongly this year, showing little impact from the oil price drop, according to the IMF
Licences for new banks will be given according to criteria set out by the central bank, a statement said
Qatari officials have announced plans to spend around $200bn on infrastructure projects over the next decade or so
The joint venture, called ICON Arabia, is planning to bring 15 new food and beverage brands to the region
The agreement is aimed at generating new business opportunities in the GCC and India
Automotive and retail sectors saw the highest growth in salaries so far this year, a new survey showed
The increase in foreign ownership from the present level of up to 75 per cent for retail businesses comes after tumbling oil prices have slashed government revenues
The UAE’s economic diversification, smart city vision and political stability have all helped fuel the job market, says analyst
Ibrahim Alassaf said the kingdom was well-prepared to cope with the plunge of crude prices