The UAE ranked 15th in an index rating countries’ residency-in-return-for-investment programmes
Assets dropped by 8.1 per cent from a year earlier to their lowest level since April 2013, central bank data showed
The drafts will be available for public comment over a six-week period, and the zone plans to accept its first applications for financial service operating licences by the end of this year
Mobily shares have been suspended since June, when the market regulator halted trading until the operator disclosed the financial impact of an investigation into its accounts.
For Abu Dhabi’s Mubadala, the purchase is part of a push to invest in assets other than oil.
The cash payment will be funded by the sale of part of its land bank in Saudi Arabia, the company said
Dubai’s stock index slid 1.3 per cent, heading for a second straight daily close below its 200-day average
The current CEO Ahmad Bin Byat has been promoted to vice-chairman and managing director while COO Fadel Al Ali will take over as CEO
The Saudi Arabian company had already received SAR 250m from Arabian Shield Cooperative Insurance Co in late March
The deal is expected to be completed during the second half of 2015, the bank said in a statement
Aeroports de Paris, insurer AXA and construction group Eiffage are among the companies in the consortium led by France’s Caisse des Depots (CDC).
The countries set up a joint committee in May to finalise some 20 projects across sectors ranging from defence to transport infrastructure
The private equity firm acquired Al Faris Restaurant, which operates the Johnny Rockets franchise in the UAE and Oman.
The bank is expecting to see a double-digit growth in loans this year, the CEO said.
The assent was granted at a board of governors’ meeting on Monday, a statement said.
The bank said the employee had received about $100,000 from a client and transferred it through his personal account to a third account
The telecoms firm is lifting a ban on foreign ownership of its shares, with a new cap set at 20 per cent of its stock
Sheikh Mohammed bin Zayed al-Nahyan replaces President Sheikh Khalifa bin Zayed al-Nahyan at the head of the fund
The company is seeking to agree a $2.69bn debt restructuring plan with investors
Housing and utility costs, which made up 44 per cent of all expenses, rose 7.8 per cent year-on-year
The deal is expected to increase Japanese investments in Oman
No details have been disclosed as yet about where or when the joint investments would be made
As per the law, all financial institutions in the UAE are now required to disclose information about financial accounts held by US citizens
In the past two years, Natixis has increased staffing levels in Dubai by around 50 per cent to 45 people
Abu Dhabi-based Emirates Development Bank has been created by the merger of Emirates Industrial Bank and Emirates Real Estate Bank
Dubai and Abu Dhabi were also ranked most expensive cities for expats in the Middle East, according to a new survey
Private wealth in the UAE is estimated to reach $1 trillion by 2019, boosted by buoyant equity markets and a growing economy, a new study shows.
Gulf Finance, part of Dubai’s Shuaa Capital, provides finance to small and mid-sized firms in the UAE.
The restructuring comes as the drop in oil prices crimped available funds as competition for assets grows
Saudi’s market regulator has said foreign institutions can buy stocks directly from June 15, but it has not so far announced the award of any licences