Banks in the UAE are much stronger than they were during the financial crash of 2008, the chief executive of Dubai’s largest lender said.
The majority of employees expect a pay rise of five per cent while only a fraction of employers are set to award that level of increase this year.
The lender said last month that it was mulling options for raising up to $300 million of capital at the earliest opportunity.
ISIL said they would target Japanese citizens after the Asian country pledged $200 million in humanitarian aid to countries fighting the group.
Almost 44 per cent of the GCC’s private wealth is focused in Saudi Arabia, while the UAE controls around 30 per cent, a new study shows.
Sector-wide profit growth this year is expected to drop to five or six per cent from 22 per cent in 2014.
The listing followed a demerger of OCI NV’s engineering and construction business from its fertilizer and chemicals business.
The GCC states have been mulling the introduction of VAT since 2007 to broaden their revenue base.
The company appointed Abdul Rahman Jareb Rashed Al Hareb as the new chairman, replacing Sheikh Maktoum Hasher Al Maktoum.
He replaces Kris Babicci, who stepped down from the post in October.
NPS secured the refinancing deal from a group of banks and financial institutions.
The adjournment will allow time for all creditors to sign an agreement which formally pledges each will assent to the plan put forward by Dubai World.
The contractor made a profit of Dhs13 million ($3.54 million) in the last quarter of 2014.
The carrier made a net profit of Dhs64.6 million ($17.59 million) in the last quarter of 2014.
POSCO signed the deal to sell a 38 per cent stake plus new shares of POSCO Engineering & Construction to Saudi’s PIF.
The loan is being arranged by Emirates NBD and will have a 10-year term and an amortising structure, sources said.
The company said that its revenues will mainly originate through ticketing, hotels and retail segments in the project.
The company has asked lenders to provide pricing guidance for a one, three or five-year loan.
Brent oil is back around $55 per barrel after a loss of as much as three per cent on Wednesday.
It plans to increase its capital to SAR5.72 billion from SAR4.76 billion by issuing one bonus share for every five held.
The IMF projected growth to reach 3.8 per cent in 2014/15 and to rise to five per cent over the medium term.
ENBD raised A$400 million from its last kangaroo bond issue in April last year.
The deal is QNB’s biggest syndicated loan to date and proceeds will be used for general corporate purposes.
KFH said it would take all legal measures available against Investment Dar to try to collect the debt it was owed.
United Finance describes itself as Oman’s largest non-bank financial institution.
The licence will allow the firm to fund small businesses and help finance cross-border deals between Saudi and the UAE.
The annual Saudi inflation rate was 2.4 per cent in December, the lowest level since at least September 2012.
Dubai Holding also has no plans to raise cash at the parent level as it seeks to reduce its debts, its chief executive said.
The deal, worth $9.5 million, marks Julphar’s entry into Bangladesh and is part of its expansion in Asia.
The Dubai-based bank is marketing the Australian dollar- denominated seven-year notes to yield about 225 basis points above the swap rate, a document from leads showed.