Dubai Creates New Fund Class To Lure Asset Managers

The qualified investor funds (QIFs) can be offered only to experienced professional investors and require less regulation.

Saudi’s Savola Says Had Initial Talks With Americana Shareholder

Kuwait’s Americana issued a statement earlier this week saying it had no knowledge of any talks with Savola on a possible acquisition.

UAE’s NMC Health Lifts Profit 27% On Higher Occupancy

Outpatient numbers grew by nearly 14 per cent and in-patient numbers by 12 per cent during the first half of the year.

Saudis To Impose 20% Foreign Ownership Limit On Stocks

The Kingdom’s bourse is expected to open to direct investment by foreign institutions in the first half of next year.

Stock News: Saudi Arabia The Main Attraction Amid Summer Lull

The Kingdom’s benchmark rose for the 13th time in 15 sessions on Sunday to reach a new six-year peak.

MSCI Lifts Weights Of Some Qatar Stocks On Foreign Ownership Reform

Qatar National Bank will have its foreign inclusion factor raised to 0.13 from 0.06, Industries Qatar to 0.13 from 0.06, and Qatar Islamic Bank to 0.25 from 0.21.

Qatar’s Mesaieed Says Will Not Be Added To MSCI Index

Mesaieed’s shares rose five per cent to a five-month high on Thursday after MSCI’s initial statement last week.

UK To Soon Decide Whether To Charge Ex-Barclays Bankers Over Qatar

The bank is accused of making undisclosed payments to investor Qatar Holdings in 2008.

Bahraini Bank ABC Upsizes Loan Facility To $750m

Funds from the loan will be used for general corporate lending purposes, it said.

Qatar’s Mesaieed Surges After MSCI Adds Stock To All-Country World Index

The company’s shares jumped as much as 10 per cent – their daily limit – in early trade.

Emaar Says No Decision Yet On Timing Of Malls Unit IPO

The listing is expected to raise Dhs8-Dhs9 billion, making it one of the region’s largest equity offers since 2008.

DIFC Investments Plans Sukuk Issue

Sources suggested that the new sukuk, if successful, would be used to refinance a $1 billion syndicated loan taken in May 2012.

Unexpected Drop In Eurozone Output Clouds Recovery Hopes

High unemployment, sluggish reforms and conflicts in Ukraine, Gaza and Iraq are holding back the region.

Saudi’s Savola Says Started Initial Talks On Acquiring Kuwait’s Americana

Savola said in a bourse filing that talks have not yet reached a stage that would require disclosure.

Kuwait Finance House Says Waits For Regulatory Approval On New CEO Hire

KFH, whose former chief executive Mohammed al-Omar retired in May, did not say when it expected the regulator to respond.

TAQA Ends Talks To Buy 50% Stake In Iraqi Kurdistan Power Plant

The Abu Dhabi-owned oil explorer and power supplier said that the project does not match the company’s growth strategy.

Ras Al Khaimah Sounds Out Banks For Syndicated Loan

The emirate also sent out requests for proposals for an Islamic bond deal in June.

Abu Dhabi’s TAQA Swings To Q2 Profit On Record Oil Production

TAQA reported a net profit of Dhs239 million ($65.1 million) for the second quarter compared with a loss of Dhs172 million a year earlier.

Abu Dhabi’s TAQA Says No Bond Issue Until 2017 At Earliest

The company said that it expects to pay 2016 maturities from improved operational cash flow and asset sales.

UAE’s Al Etihad Credit Bureau To Launch First Phase In September

The much-awaited bureau will begin to issue consumer credit reports to financial institutions next month, it said.

Emirates Signs $425m Loan For Two A380 Jumbo Jets

The Dubai-based carrier is the world’s largest operator of Airbus’ A380 jets.

UAE’s RAK Ceramics Posts Dhs150m H1 Net Profit

Total revenues generated during the first half of this year declined by 4.4 per cent to reach Dhs1.66 billion compared to the same period last year, the company said.

RBS Preparing To Sell International Arm Of Private Bank, Coutts

The sale could net RBS between $720 million and $1.1 billion, according to sources.

Bahrain’s Al Baraka Bank Posts 3.8% Rise In Q2 Net Profit

The bank made a net attributable profit of $43.8 million for the three months to June 30, it said in a statement.

Dubai’s Drake & Scull Q2 Net Profit Drops 41%

The company made a profit of Dhs25.88 million ($7.05 million) in the three months to June 30.

Alitalia Secures Rescue With Long-Awaited Etihad Deal

In addition to Etihad’s investment, which will pay for a 49 per cent stake in the Italian carrier, shareholders also agreed to a 300 million euro capital hike.

Qataris Move To Snap Up IHG’s Paris Flagship Hotel Le Grand

The sale, which is not expected to complete until next year, continues IHG’s strategy of selling on its hotels and then managing them under contract.

Rising Interest Rates May Revive Appetite For Islamic Commodity Deals

Islamic finance has developed alternative inter-bank tools, but higher interest rates are expected to boost murabaha trading, luring back western borrowers looking for cheap finance.

Alitalia Set To Seal Etihad Investment, Secure jobs

The deal foresees Etihad taking a 49 per cent stake in Alitalia and investing 1.2 billion euros ($1.6 billion) in the airline over the next three years.

Dubai’s Amlak Says Debt Restructuring Proposal Approved

The company said that it would shortly make an initial payment to creditors of approximately Dhs2 billion ($545 million), with the remaining debt to be paid over a 12- year period.