Private equity investments into MENA reach Dhs 1.5bn in 2014

Private equity investments in the Middle East and North Africa rose 118 per cent last year, a new report shows

Saudi billionaire Prince Alwaleed’s Kingdom Holding posts 13% Q2 profit rise

The firm attributed the profit rise to higher income from its associates and joint ventures and lower costs

Middle East funds turn negative as oil drops again

Only 13 per cent of investment firms expect to raise their equity allocations to the Middle East in the next three months, a survey shows

Abu Dhabi, Dubai exchanges explore possibility of stock futures

The exchanges have established a joint committee which will examine the issue over the next few months

UAE fuel price deregulation to have ‘one-off’ impact on inflation – Stan Chart

The bank has revised its average inflation forecast for 2016 to 4.3 per cent from 4 per cent previously

Dubai regulator fines Arqaam $50,000 over money laundering rules

A periodic risk assessment by authorities identified deficiencies in Arqaam’s systems and controls to prevent money laundering

UAE credit growth expected to be nearly flat in 2015 – Mashreq CEO

He also forecast that the country’s banking sector profits would rise about 10 per cent in 2015

UAE to cut state spending by 4.2% this year – central bank

Consolidated government spending is expected to drop to Dhs 460.6bn in 2015 from Dhs 480.8bn in 2014

Standard Chartered appoints audit head as new UAE chief executive

Group head of internal audit Julian Wynter will replace Mohsin Nathani, who resigned from the bank in April, sources said

RBS ends plan to sell UAE transaction services to ADCB

The deal was called off in part because ADCB asked at a late stage to select which of RBS’ customers it would take, sources said

Dubai Financial Market Q2 net profit drops 48%

The firm, which runs securities trading in Dubai, made a net profit of Dhs 132.4m in Q2

UAE’s First Gulf Bank Q2 profit boosted by lending rise

FGB made a net profit of Dhs 1.45bn for the three months to June 2015, up 8 per cent to Q2 2014

Kuwaiti MPs head to UK to check on sovereign wealth fund’s London office

They plan to check how investments are being made and whether enough official oversight exists

Dubai Holdings unit says to pull out of Malta telecoms company

Emirates International Telecommunications Malta, which holds a 60 per cent share in Go, did not say how it plans to divest its stake

Iran eyes $185bn oil and gas projects after sanctions

Iran will focus on its oil and gas, metals and car industries with an eye to exporting to Europe, a top official said

Bahraini insurer ARIG plans full ownership of Takaful Re

ARIG already owns 54 per cent of Dubai-based Islamic reinsurer Takaful Re

Dubai’s Emaar Malls Q2 profit rises 43%

Emaar Malls made a net profit of Dhs 412m in the second quarter of 2015

Dubai’s Union Properties says plans three projects worth $544.5m

The developer did not provide any details about the projects

Doha, Dubai most expensive Middle Eastern cities for expats

A new index finds that the cities are among the most expensive worldwide for beer and wine

UAE’s inflation rate up 4.2% y-o-y in June

Housing and utility costs saw the biggest jump in June as they rose 10.2 per cent, statistics show

Abu Dhabi Commercial Bank Q2 net profit up 21%, beats estimates

The lender made a net profit attributable to shareholders of Dhs 1.28bn in the second quarter of 2015

Stock news: Most Gulf markets edge up

Dubai’s index inched up 0.1 per cent as heavyweight bank Emirates NBD jumped 3.5 per cent

Chairman of Abu Dhabi’s Al Hilal Bank resigns

Ahmed Ateeq al-Mazrouei, chairman of the lender since 2008, has left for personal reasons, sources said

Abu Dhabi’s Emirates Motor Company closes $175m debut loan

Noor Bank was the initial lead arranger for the syndicated structured facility

Dragon Oil’s largest shareholder ENOC says no to dividend payment

ENOC, which owns 54 per cent of Dragon Oil, in June offered 750 pence per share to buy out minority shareholders

Dubai’s Mashreq Q2 net profit climbs 11%

For the first half of 2015, the bank reported a net profit of Dhs 1.3bn, up 11.6 per cent from a year earlier

Dubai’s Emirates NBD Q2 net profit rises 26%

The lender made a profit of Dhs1.65bn in the second quarter of 2015, compared to Dhs1.31bn in the same period of 2014

Investcorp acquires Saudi testing services company

The value of the deal, Investcorp’s fifth in Saudi Arabia, was not disclosed

Bahrain’s Arcapita buys part of Abu Dhabi property project for $200m

The firm acquired phase one of Saadiyat Beach Residences, a residential real estate complex in Abu Dhabi

Stock news: Iran nuclear deal may dampen Gulf by depressing oil prices

The deal might specifically affect Saudi bourse, which is the most sensitive in the Gulf to oil prices due to its heavyweight petrochemical sector