Lower oil prices had only a minor impact on UAE credit conditions, with no effect on demand for business loans or credit standards, a new survey shows.
Brent crude hit a new 2015 high of $66.93 per barrel on Thursday before easing slightly on Friday.
Currently, a fixing is scheduled for every day other than Friday.
Net profit in the three months to March 31 was KD12 million.
The investment will produce an average semi-annual cash return of 12 per cent, GFH said.
the central bank did not elaborate on why it took the action against Future Bank and Iran Insurance Co.
A number of Saudi insurance firms have been loss-making for years because of severe competition in the market.
RBS, 79 per cent owned by the British government, is shrinking its corporate and institutional banking business in the Middle East.
The timing for the listing would be dependent on approval from Kuwait’s Capital Markets Authority.
The office opening is part of the fund’s strategy to shift its focus from Europe to Asia and the US.
The majority of UAE residents want to leave behind an inheritance but only a fraction are confident of doing so, a new survey says.
Any deal would require the approval of the board of directors, the shareholders and the regulators, United Finance said in a statement.
Kuwait’s regulator is looking to improve the investment environment in the country.
The lender reported a marginal increase in first-quarter net profit.
The conglomerate said its net profit was Dhs282 million in the first quarter of 2015.
NBAD made a net profit of Dhs1.42 billion in the first quarter of 2015.
The size of the issue was capped at $500 million and books exceeded $650 million with more accounts to respond.
The group is aiming to work with state firms such as TOKI, Emlak Konut and Kiptas.
The new fund will focus on companies interested in doing business in Oman as well as other Gulf countries, East Africa, and South and Southeast Asia.
One third of companies in the country have increased counter offers to avoid losing key employees, finds Robert Half survey.
Rated Baa1/A+ by Moody’s and Fitch, ENBD has mandated HSBC, Morgan Stanley, Standard Chartered Bank and itself as bookrunners.
Net foreign assets reached SAR2.59 trillion in March, their lowest level since July 2013.
Both the DFM and ADX say they are in talks to attract market makers.
The approval was granted at the firm’s annual shareholder meeting, according to a bourse filing.
Emirates NBD, First Gulf Bank, Gulf International Bank, HSBC, Noor Bank and Standard Chartered will provide the loan, three sources told Reuters.
The transaction will increase the company’s total borrowing to $600 million.
The new business will be developed as a joint venture with Bahrain-based brokerage Mubasher Financial Service.
The firm made a net profit of Dhs67.7 million ($18.4 million) in the three months to March 31.
Kirdar will replace Abdul-Rahman Salim al-Ateeqi, who will retire as chairman at the end of the current fiscal year on June 30.
The Dubai-based firm could raise between $750 million and $1 billion from the bond.