The bank’s net attributable profit for the three months to June 30 was $125.9 million, compared with $93.2 million in the corresponding period of 2013.
The law, originally announced in late May, allows foreigners to own more than 49 per cent of a company in special cases.
The sale is one of the largest asset disposals by the state-owned investment unit since the 2009 debt crisis.
Ardian has made a bid on portfolios that Abu Dhabi Investment Authority (ADIA) is looking to sell, Bloomberg reported.
The goal of labour policy is full employment of the Saudi workforce, a report from the labour ministry said.
The Dubai developer’s net profit was boosted by increased revenues from its malls and hospitality businesses.
The alternative investment fund Investcorp posted a 25 per cent gain in annual net profit.
Ominvest said last month it had written to ONIC Holding about forming a strategic arrangement between the two firms
The value of shares brought by foreigners through swap agreements rose to SAR3.53 billion in July, from SAR1.66 billion in June.
The fund’s return fell despite a strong rise in the Kingdom’s stock market, in which it is one of the major investors.
In May, Dubai Investments divested a 66 per cent equity stake in Globalpharma, which contributed a profit of Dhs472 million.
Revenue for the second quarter was Dhs2.19 billion, up 74 per cent year-on-year.
The court ruled that the firm had to repay all three groups of creditors the total amount of $1.56 billion under its restructuring plan.
The conglomerate plans to make its first big repayment early, in exchange for more time before a second and much larger obligation needs to be repaid.
The opening of the Saudi market to direct foreign investment is expected to attract a lot of active money.
The Dubai benchmark added 0.5 per cent in the first hour of trade with builder Arabtec rising 1.5 per cent.
The developer is offering its investors an option to convert its Global Depositary Receipts (GDRs), listed on the London bourse into ordinary shares that would be listed on Dubai’s stock market.
The revival of the capital gains tax on Indians buying property overseas could have a knock on effect on Dubai’s residential property market, according to a real estate consultancy.
Twitter reported a 124 per cent jump in quarterly revenue to $312 million, beating expectations for $283.1 million.
The IMF warned that tensions arising from the conflict between Russia and Ukraine could spill over to the global economy, prompting slower growth.
Capital from the Middle East accounted for 13 per cent of the total cross border investment coming into Europe, a new report says
The S&P GCC index dropped by 1.8 per cent during the second quarter of the year, according to a report by NBK.
Expenditure rose to a record high of $63.6 billion in the year that ended in March.
It did not disclose the value of the deal, nor the size of the stake being sold.
The company made a net profit of BD10.4 million ($27.6 million) in the three months to June 30.
Net profit climbed to Dhs103 million ($28.1 million) in the three months to June 30 from Dhs92 million a year earlier, the company said in a statement.
Ismaik cut his stake to 28.77 per cent from 28.85 per cent, the website of the Dubai Financial Market showed.
Other Gulf markets will also lure more foreign investment if the Saudi market opens, experts say.
Dubai’s largest lender expects to see its lending grow by four to five per cent this year, the bank’s finance head Surya Subramanian told reporters.
Aramex posted a second-quarter net profit of Dhs80.8 million compared with Dhs72.3 million in the corresponding period of 2013.