Ahli United Bank To Issue Tier 1 Bonds, Meet Investors From Thursday

The lender chose Goldman Sachs, HSBC and Morgan Stanley to arrange investor meetings for the bonds.

Saudi British Bank Q1 Net Profit Up 3.2%, Beats Forecasts

The bank, an affiliate of HSBC Holdings, said it made SAR1.12 billion in the three months ending March 31.

Saudi Bank Samba Sees 3.1% Q1 Net Profit Gain

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

Majority Of UAE Residents Use Funds From Bonus To Pay Debts, Bills

Emiratis are the most likely to spend their bonus amounts while Indian expats are most likely to invest their bonus payments in a savings scheme, a new survey says.

Bahrain-Based Retailer Jawad Raises $235m Loan

The group is the franchise operator of clothing brand Mango and restaurant chains Papa Johns and Burger King in the Gulf.

UAE Islamic Insurers Considering Mergers

A committee to oversee Islamic insurance is set to be established in the UAE by the end of this year to help standardise the sector.

Abu Dhabi’s Mubadala GE Capital Says No Plans To Change Shareholdings

Mubadala GE Capital was set up in 2009 as a 50:50 venture to invest globally in GE Capital-originated commercial finance assets.

Private Equity House Abraaj Closes $990m Sub-Saharan Africa Fund

The new African fund will focus on well-managed, mid-market firms in sectors most likely to benefit from demand driven by the rapid expansion of the middle class.

Saudi Regulator Lifts Suspension On PetroRabigh shares

Trading in PetroRabigh was suspended by the Capital Market Authority on Sunday after the company did not commit to listing rules.

Bahrain’s GFH Says To Review London, Kuwait Listings

GFH did not give details of what its review would involve or say when it might be completed.

Saudi’s PetroRabigh Says Plans $1.9bn Rights Issue

The company said that it will use the money raised to help fund its expansion.

Bahrain Sovereign Fund Wants To Double Assets Under Management In 7 Years

The fund is seeking targets in Europe and the U.S., and select markets in the Far East, across multiple sectors including logistics and industrials.

Dubai Govt Launches Dhs600m SME Fund For Emirati Entrepreneurs

The fund will offer between Dhs50,000 and Dhs5 million to start-ups and existing businesses in Dubai.

Dubai’s Financial Court System Seeking Ties With China

Discussions had begun with court officials in Shanghai confirmed DIFC Courts’ Registrar Mark Beer.

Saudi Market Regulator Halts PetroRabigh Shares For Disclosure Rule Breach

The suspension would remain in place until the company meets regulatory requirements on disclosure, the CMA said.

UAE Bank NBAD Targets Africa, Asia For Wealth Management Growth

NBAD has been focusing on growing its fee-paying businesses such as wealth management as it aims to offset high levels of competition in traditional banking products.

Biggest Gulf Hedge Fund Launch For 5 Years Eyes Ethical Bets

Kothari Investment Partners is looking to appeal to a broader investment base, including ethical investors in Europe.

Dubai Refiner ENOC Marketing $1.5bn Long-Term Underwritten Loan – Sources

The syndication phase was launched on Wednesday and will allow additional lenders to join in the facility.

Abraaj Says Completes Investment With TPG In Saudi’s Kudu

The deal is a first in the region for TPG, which manages about $65 billion of capital.

Qatar Lends Palestinians $100m To Pay Salaries

Palestine is in the midst of an economic crisis triggered by a row with Israel over taxes.

US Firm Apollo Plans To Expand Into Mideast Via Dubai Joint Venture

Apollo is the world’s third-largest alternative asset manager after Blackstone Group and Carlyle Group.

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.