Banque Saudi Fransi Q1 Net Profit Rises 22.7%, Beats Forecasts

The bank attributed its rise in net profit to an increase in total operating income.

Qatar National Bank Q1 Net Profit Up 10.1%, Beats Forecast

The bank reported a net profit of $741.7 million for the first quarter of 2015.

Dubai’s ICD Acquires Stakes In Three Hotels

The fund’s latest acquisitions include the W Hotel in Washington D.C., a majority stake in New York’s Mandarin Oriental and minority stake in One&Only Cape Town.

Saudi’s Jarir Marketing Q1 Net Profit Rises 22.7%, Beats Forecasts

It made a net profit of SAR247 million in the three months to March 31.

IMF Sees Low Potential Economic Growth Around World

Potential growth was already slowing in richer economies before the financial crisis due to aging populations and a drop in technological innovation.

No UAE Government Bond Law Before Year End -Official

A formal law could help develop the country’s bond market and cover any future budget deficits due to low oil prices.

Standard Chartered UAE CEO Becomes Latest Executive To Depart

Nathani will remain at the bank during his notice period and ensure a smooth transition to a successor, the lender said.

IMF Endorses Islamic Finance, Warns It Must Be Implemented Better

The lender has urged Islamic finance sector to design proper rules and implement them consistently.

Dubai’s Pacific Control Systems Raises Dhs1bn In 72-Month Loans

The syndication was a mix of conventional and Islamic financing structures, a bourse filing said.

Kuwait Fund To Lend Egypt $1.5bn Over Next Five Years

Kuwait, Saudi Arabia and the United Arab Emirates have provided billions of dollars of aid to Egypt in the past two years.

Saudi’s Riyad Bank Q1 Net Profit Rises 8.6%

The bank said it made $312 million in the three months to March 31.

Kuwait’s Aayan Seeks Rescheduling Of $586.7m Debt

As part of the restructuring plan, Aayan plans to liquidate some of its portfolio of listed Kuwaiti companies.

Saudi’s Almarai Q1 Profit Gains 12% On Higher Sales

The firm made a profit of SAR306.5 million ($81.7 million) during the first quarter of 2015.

Saudi Poultry Firm Al Watania Plans Stock Market Float – Sources

Bankers will make formal presentations to the company this month and Al Watania will decide on who will advise it on its Saudi listing by May.

UAE Joins Asian Infrastructure Investment Bank

The UAE follows a number of other Gulf countries such as Saudi Arabia, Kuwait, Oman and Qatar that have flocked to join the new Asian bank.

Oman’s Bank Dhofar Sets Price, Ratio For OMR45m Rights Issue

The lender received shareholder approval for the offering on March 30.

Stock News: Dubai Leads Gulf Markets Up After Iran Nuclear Deal

The main Dubai stock index climbed 1.6 per cent in early trade on Sunday.

Abu Dhabi Industrial Group Senaat Posts 5% Profit Rise In 2014

Senaat’s revenue increased by 16 per cent to Dhs13.4 billion in 2014.

Saudi Bank Aljazira Names Advisers For $800m Rights Issue

The rights issue will be used to strengthen its capital base and finance its activities, the bank said.

Senegal President Asks Saudi-Based IDB To Help Organise Sukuk Bond

Senegal aims to issue between $500 million and $1 billion in debt on international markets this year.

Middle East Funds Moving To Cash As Risks Rise -Survey

It is the first time since the survey was launched in September 2013 that the bears outweigh the bulls for both equities and fixed income simultaneously.

UAE’s Mubadala 2014 Profit Drops On Investment Income, Provisions

The fund said in a statement it made a net profit of Dhs1.04 billion in 2014, down from Dhs1.45 billion in the previous year.

Bahrain’s BKIC Takes 10.8% Stake In Takaful International

BKIC bought 6.7 million shares of Takaful International valued at $1.52 million from Kuwait’s Osoul Investment Co, a statement said.

Dubai’s DP World To Buy Canada’s Fairview Container Terminal For $457m

The terminal, in Prince Rupert, British Columbia, has a capacity of 850,000 twenty-foot equivalent unit (TEU).

UAE Companies Law Eases Flotations, Seeks More Investment

The law reduces the minimum “free float” of shares in company flotations on the UAE’s two main stock markets to 30 per cent from 55 per cent.

Stock News: Stronger Oil Supports Saudi; Hollywood Deal Lifts Dubai

Brent crude oil futures reversed early losses to rally to $55.50 barrel.

Dubai Bank CBD To Buy $817m Of UAE Company Loans From RBS

The portfolio of loans was mostly to large United Arab Emirates-based companies.

Bahrain Launches Wakala Liquidity Tool For Islamic Banks

The one-week wakala contracts will allow the banks to deposit excess funds with the central bank.

StanChart Senior CEO Shankar Quits In Latest Management Change

V. Shankar has resigned as CEO of Europe, Middle East, Africa and Americas after 13 years at the bank.

Kuwait’s NBK Sets Price Guidance For Capital-Boosting Bond

The lender has set price guidance for the bond, which will boost its Tier 1 — or core — capital, at 5.875 per cent on Wednesday.