Saudi C.Bank Gov Says Rates Reasonable, No Impact From Fed

Saudi Arabia, which pegs its riyal currency to the U.S. dollar, has kept its repo rate at 2.0 per cent since January 2009.

Saudi 2014 Economic Growth Of 4.4% Achievable – Central Bank Governor

Saudi Arabia’s central bank governor said that he expected the private sector to drive growth in the Kingdom.

Emaar Plans $2.5bn Listing Of Shopping Mall Unit

The proceeds “will be primarily distributed as dividend” to Emaar shareholders, the firm said.

New York Takes London’s Crown As World’s Top Financial Centre

Qatar, Dubai and Riyadh ranked 26, 29 and 31 respectively on the Global Financial Centres Index.

UAE’s ADCB To Buy Back Further Shares In 2014 – CEO

Abu Dhabi Commercial Bank bought back seven per cent of its shares last year after it secured approval for a 10 per cent buyback.

Oman Central Bank Says No Quick Introduction Of Islamic Instruments

The need for Islamic interbank tools is relatively acute in Oman because its Islamic banking regulations prohibit the use of commodity murabaha.

Kuwait Central Bank Sees GDP Growth Of Up To 3.5% In 2014

Kuwait also expects its ratio of non-performing loans to decline in 2014.

Sharjah Ruler Approves 7% Rise In Government Spending In 2014

Public sector wages and operating costs have driven up Sharjah’s government spending in 2014.

Gulf Arab Rift Has No Effect On Central Bankers Meet -Kuwait

Kuwait’s central bank governor said the dispute had not marred relations between his counterparts from the six-member Gulf Cooperation Council (GCC).

Saudi Arabia To Name And Shame Corrupt Officials

The Shoura Council has also asked the Kingdom’s anti-corruption agency to provide a report on the graft situation in the country.

Abu Dhabi’s Inflation Rises 2.1% In 2014

Housing, water and electricity costs rose 1.5 per cent in the last two months and were the largest contributors to the overall increase in the consumer price index.

Oman Central Bank Tells Lenders To Avoid Conflicts Of Interest

The move coincides with a wide-ranging government crackdown on corruption.

UAE’S Emirates REIT To Raise At Least $135m In Dubai IPO

The company plans to use the proceeds for possible future acquisitions and investment in existing assets.

UAE’s First REIT To Announce IPO On Nasdaq Dubai

Emirates REIT, which was formed in 2010, has eight properties valued at over Dhs1.1 billion.

UAE’s NBAD Picks Banks For Five-Year Aussie Bond-IFR

The lender has picked ANZ, Citigroup, HSBC and itself to arrange the Kangaroo bond.

Kuwait Budget Spending Up 8% Year-On-Year In April-Jan

The International Monetary Fund warned Kuwait in December to restrain the rising public sector wage bill and subsidies.

Qatar’s Doha Insurance To Launch $120m Rights Issue March 17

Doha Insurance has said the capital boost would increase financial solvency and improve its credit rating.

New CEO Of Kuwait’s NBK Backs Bank’s Regional Strategy

NBK’s Islamic banking business has helped to boost profits, the executive said.

Qatar’s Barwa Bank Names Subeai As Acting CEO

Khalid Yousef al-Subeai was previously CEO of The First Investor, Barwa’s wholly-owned investment banking unit.

Qatar May Face Higher Costs Of Hiring Foreign Workers – IMF

The publicity about deaths of migrant construction workers in Qatar could affect the availability and cost of hiring new workers, said the fund.

Caution May Return On Ukraine-Russia Crisis, Egypt Clashes Could Weigh

Regional shares were dampened last week due to the Ukrainian crisis but recovered lost ground as the situation seemed to have calmed.

Dubai’s Competitive Advantage Will Not Last Forever – Experts

Dubai needs to diversify its sectors to weather future economic risks, according to experts.

Dubai’s Rising House Prices Pose Economic Risk- Expert

Rising house prices could affect Dubai’s regional competitiveness, an expert has said.

CAPM Says Plans First IPO On Main Dubai Exchange In 5 Years

Around 55 percent of the company’s equity, or 275 million shares, will be offered to the public in the IPO at Dhs1 per share on the Dubai Financial Market, CAPM said.

Dubai’s DMCC To Boost Islamic Commodity Trade With Tie-Ups

The DMCC partnered with global brokerage firm BGC Partners this week to promote the platform to a wider international trading community.

Banque Saudi Fransi Loses Key Equity Banker To Jadwa Investment

Jallal, who was senior vice-president of investment banking at Saudi Fransi Capital, the investment banking unit of BSF, resigned last month.

First Gulf Bank To Set Up $1.07bn Sukuk In Malaysia

Funds from the programme will go toward expanding the bank’s day-to-day business.

Saudi IPO Market Set For Booming 2014 As Regulator, Issuers Eye Deals

The Kingdom’s stock market saw five IPOs in 2013 worth around $506 million, down in both volume and value from 2012.

Dubai World Prepays $284.5m To Creditors – Sources

The conglomerate obtained money for the prepayment from asset sales.

Bahrain To See Further Bank Mergers This Year – Central Bank Governor

In 2013, there were four separate examples of consolidation in the Bahraini banking sector.